During a 35 minute speech given at the The Open University campus, Milton Keynes, yesterday, Prime Minster David Cameron spent 35 minutes addressing the reality of Britain’s economy.

For the first time ever somebody of authority spelled out the severity of what reporters lightly call “the recession” or “credit crunch”. As Cameron explained, the truth is the total national debt is actually pushing trillions and each child born automatically has thousands of pounds worth of debt on their head. Cuts will need to be made, taxes will need to be implemented and “we’re all in this together”.

This is where the Prime Minster stops telling the truth.

Conscious economists and well read members of the public are already well aware of what dire straits Britain is in. In fact they were screaming and hollering before the recession itself, warning others that it was coming. And then after it hit, they explained why it hit and what it meant.

As a society the first question we should be asking is why has it taken this long for our “elected” politicians to be honest? The truth is they’re there to cover-up the real problem, spin why it happened, and then use typical politician rhetoric to make themselves look good.

The grand deception in this speech, is that he only mentions the Bank of England in passing. Cameron says that the Government’s plans have been okayed by the Bank. What he fails to say is the problem was actually compounded by this megalithic institution and is the root cause of all debt problems. The Bank didn’t okay the Government’s plans, the Bank dictated those plans to the Government. In a financial sense the Bank of England owns Britain!

While Britain was controlling its empire it needed to raise finance to continue warring with other nations. Thus it allowed a private Bank to lend it this money at interest like any other high-street Bank. This deceptively became the Bank of England. Despite what they might tell you, it is a private Bank, run for profit, outside of the Government’s control. Since its inception in 1694 the Royals used loans to extend their physical empire by force, while the Bank used its loans to extend an empire by finance. It wouldn’t take long for Britain to amass a dangerous level of national debt. It would increase every year and by 1844 the government owed the bank over £11m.

The Bank sits in the Private City of London, and the Queen must ask permission to enter!

The deficit simply refers to one year of Government debt. In other words, in one single year the Government has borrowed more from the Bank than it’s made in revenue.

David Cameron tried to pin the blame on the previous Government. Really he should be blaming every Government since 1694 and the Banking system itself; because every year the national debt has risen, and will continue to rise under Cameron’s Government. Why? Because in order for the country to print money and stimulate the economy, it has to borrow at interest!

Re-read that sentence, because it doesn’t make sense. It’s not supposed to make sense. That’s why they never mention it.

If our Government wants to print £1million, it has to go to the Bank of England and ask for it. The Bank will then buy what is essentially an IOU Bond from the Government and print the £1million. The Government is now £1million more in debt to the Bank and has to pay back this loan with interest over about 10 years.

The idea is that with this £1 million the Government can stimulate the economy to the point by which they can pay back the debt. The problem is that we’re in £1.1 trillion in debt already!

There is absolutely no way we can ever pay this debt back, unless we spend decades and decades living in absolute poverty without any public services, while working 12 hours a day with most of our earnings being taxed to pay off the debt.

It will never work.
It doesn’t work by design.

The only solution is to cut the Bank of England out of the equation. Until a political party proposes this, then nobody is worth voting for. They are literally just low level managers for the Bank.

So, do we trudge along under this current system and agree with any new measure proposed because we’re too stupid to understand it, or do we cut to the chase and demand that the Government severs ties with the Bank of England?

It’s your choice – but if you think it’s bad now, what will it be like for your children?

In America they have the End The Fed movement by Ron Paul. The trouble is America is so huge that you can fit England in the state of Texas. In theory it should be much easier for us to wake people up using an End The Bank of England movement because we’ve got much less ground to cover.

Related Articles:
How The Corrupt Private Banking System Rules The World
Bank of England, City of London and The Queen
Intro to Money and its History Before the New World Order

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