What you are seeing unfold here is not one party (Conservative) promising to change a failed policy of the party in government (Labour) as a way of fixing the economy, even though that is exactly what it is supposed to make you believe
Read the article and I will explain why after in my comment:
Tory superbank: Osborne to scrap watchdog and give Bank of England powers to stop meltdown
In a historic move, the Conservatives will give the Bank sweeping controls to regulate banks and building societies.
The plans are Shadow Chancellor George Osborne’s attempt to seize the mantle of reform from Gordon Brown, who granted the Bank independence to set interest rates when Labour won power in 1997.
Liam Byrne, the Chief Secretary to the Treasury, said: ‘David Cameron and George Osborne can talk all they like about banking reform, but when it mattered, they showed their inexperience and called it wrong.
‘They opposed the Government’s action to protect Northern Rock irrespective of the risks to savers and the wider economy.
“That reform must be based on a clear understanding of what went wrong in the first place and a clear determination to put it right.”
The debt crisis had been “at best ignored and at worst encouraged”, he said.
“For this, I believe the finger of blame points directly at the system of financial regulation established by Gordon Brown in 1997.
“At its heart was the tripartite system; a system in which no-one was looking at the big picture, no-one had responsibility and authority to act and no-one was effectively in charge.
“So those bad debts, those risky loans, the soaring house prices, the systemic risk, the asset price bubble – they all fell between the cracks of the system.
“I’m afraid the Government’s proposals that all we need are a few more tweaks and a little bureaucratic tinkering are totally inadequate and risk preventing a recovery.”The reforms would hand greater powers to the ‘Old Lady of Threadneedle Street’ than at any time in its 315-year history, potentially triggering fears of a ‘democratic deficit’ at the heart of government, with too much influence handed to unelected Bank officials.
In putting so much faith in the Bank of England, the Tories will be accused of ignoring that institution’s considerable failings in the lead-up to the financial crisis. Mr King was criticised for doing too little to flag up the dangers of the debt bubble and soaring house prices.
To counter such concerns, the Tories are explicitly aiming to downgrade the status of the Governor within his own institution by creating a third deputy governor, who would oversee the Bank’s new Financial Regulation wing.
The Tory scheme runs directly counter to Treasury proposals this month to boost the FSA’s authority.
And they also clash with proposals from the Liberal Democrats, who will today argue that the FSA should be retained. The LibDems’ Treasury spokesman Vince Cable will also demand that highly paid bankers disclose details of their pay and he will call for Royal Bank of Scotland and Lloyds to be broken up before they are returned to public ownership.
In a speech to the London Stock Exchange today, Mr Cable will say: ‘Some aspects of the financial services industry are simply too big for the British economy to manage safely.
So why is this a bad idea?
As I said above, what you are seeing unfold here is not one party (Conservative) attempting to change a failed policy of the party in government (Labour) as a way of fixing the economy, even though that is exactly what it is supposed to make you believe. You are actually seeing two phases of the same agenda from two parties who are two sides of the same coin.
Shakespeare famously said “All the world’s a stage and the people merely actors”. Well he was not joking. He was warning us of the reality that escapes us. This whole episode is a charade played out for our benefit to gain our support and consent to, if not demand, the next phase of the long term plan. Let me explain how it works.
Since the end of the 1990s the banking regulatory authorities have been weakened by legislation enabling the creation of a huge derivatives bubble which in effect is a bubble with no real assets to back it up. It is simply money out of thin air represented by numbers in a ledger. This de-regulation was going on in the USA starting with Clinton repealing the Glass-Steagall Act in 1999 (even with a majority of Republicans in the Houses) thus expanding the limitations of lending by removing a law that prevented the banks from over lending based on their assets. Then GW Bush made this worse by removing all limits on assets to loans ratios and allowing the banks to make investments with money that did not exist. The same process was going on in Britain during the Blair years and in other western nations. So you see how this is a bi-partisan con trick in most countries.
The fact that the financial regulators in all these western countries were seemingly unaware of the impending situation says to us that either they were limited by weakened legislation and powers of enforcement, or they were allowing this to happen and therefore were part of the problem. The fact that they all walked away with golden handshakes and huge pensions, despite their dreadful job performance, should sound alarm bells at least. This must also make it quite obvious to everyone that this could not possibly have been an oversight by such a large number of experienced people
Well, you would be right. The inflation of the derivatives bubble was not a mistake. It was created by design. We know this because it was leaked from the meetings of the rich and powerful over a decade ago and reported in the independent press on-line. More recently it was leaked from the Bilderberg Meeting in Ottawa in 2006, and reported by Daniel Estulin, that the wealthy elites that host this meeting had discussed the deliberate collapsing of the world economy using the derivatives bubble (and to blame the housing market).
The meeting is full of politicians from all western nations and International groups as well as multinational conglomerates, Royalty, and Media Groups. At this meeting in 2006 were the representatives of banks such as:
Timothy F. Geithner, President and CEO, Federal Reserve Bank of New York
Dermot Gleeson, Chairman, Anglo Irish Bank Group
Ronald S. Lloyd, Chairman and CEO, Credit Suisse First Boston
Frank McKenna, Deputy Chair, Toronto Dominion Bank Financial Group
Gordon Nixon, President and CEO, Royal Bank of Canada
David Rockefeller, Former Member, JP Morgan International Council
Rudolf Scholten, Member of the Board of Executive Directors, Österreichische Kontrollbank AG
Peter D. Sutherland, Chairman, BP plc and Chairman, Goldman Sachs International
Many other banks have been present in years previous and since. However let me take one example in AIB. Dermot Gleeson the Head of Anglo Irish Bank has attended Bilderberg since 2003 to 2009 so has been well aware of the developing plan and his part in it. In 2004 for instance Thomas L. Donilon, Vice-President, Fannie Mae, (and Council on Foreign Relations) was present, presumably to discuss their part in the home loans side show that the US government would blame the crash on. So in the two years since the meeting in 2006 where they decided to inflate the bubble to bursting, AIB doubled the amount of it’s total lending exposure right before the crash in late 2008
Many of the same names re-appeared in the 2008 meeting plus other interesting ones like
Josef Ackermann, Chairman of the Management Board and the Group Executive Committee, Deutsche Bank AG
Ben S. Bernanke, Chairman, Board of Governors, Federal Reserve System
Harold E. Ford, Jr., Vice Chairman, Merill Lynch & Co., Inc
Seppo Honkapohja, Member of the Board, Bank of Finland
William J. McDonough, Vice Chairman and Special Advisor to the Chairman, Merrill Lynch & Co., Inc.
Tom McKillop, Chairman, The Royal Bank of Scotland Group
Rudolf Scholten, Member of the Board of Executive Directors, Oesterreichische Kontrollbank AG
Jean-Claude Trichet, President, European Central Bank
Robert B. Zoellick, President, The World Bank Group
Notable are RBS, AIB, Merril Lynch, the companies at the centre of the collapse in the US, Britain and Ireland that was imminent. As well as these men, there were also present many Finance ministers and, for reference to the article above, also present at the meeting were the following attendees indicating the cross party co-operation for this agenda
Edward Balls, Economic Secretary to the Treasury (Labour)
Kenneth Clarke, Member of Parliament (Conservative)
George Osborne, Shadow Chancellor of the Exchequer (Conservative)
Kenneth Clarke in fact is an ever present participant. George Osborne has been attending for the last 4 years, and Ed Balls has been attending since 2002. So again we see no party lines and long term involvement.
You may ask why we have never heard of any of this considering how important it is. Well the simple answer is because the people who attend this meeting also control your media. A few examples of this are in these recent attendees
Martin H. Wolf, Associate Editor and Economics Commentator, The Financial Times
John Micklethwait, Editor-in-Chief, The Economist
Vendelin von Bredow, Paris Correspondent, The Economist
Adrian D. Wooldridge, Foreign Correspondent, The Economist
Anatole Kaletsky, Editor at Large, The Times
Paul Gigot, Editorial Page Editor, The Wall Street Journal
Donald E. Graham, Chairman and CEO, The Washington Post Company
Matthias Nass, Deputy Editor, Die Zeit
Christine Ockrent, CEO, French television and radio world service
Eric Schmidt, Chairman of the Executive Committee and CEO, Google
Oscar Bronner, Publisher and Editor, Der Standard (Austria)
Nicolas Beytout, Editor-in-Chief, Le Figaro (France)
Juan Luis Cebrian, Grupo PRISA media group (Spain)
Heather Reisman, Chair and CEO, Indigo Books & Music Inc. (Canada)
John Vinocur, Senior Correspondent, International Herald Tribune (USA)
Conrad Black, Telegraph Group
So you see they have the economic and Financial press sewn up so that they only send out the message the Bilderberg Group wants the public to hear. Even the Director General of the BBC has attended around 2002
You may have noticed something in Europe whereby Britain and Ireland’s Prime Ministers both stepped down before the crash and left their fall guys to carry the can. This is what Gordon Brown and Brian Cowan are, however they will probably be well rewarded for this while Tony Blair will be free to become European President and Bertie Ahern will most probably be given a top job in Blair’s administration
Back to the article then, you can see that in Bilderberg there is no difference between Labour and Conservative, or Republican and Democrat. They are simply working together to carry out an agenda phase by phase. Hence Bilderberg has already decided that Gordon Brown will oversee the crash so that the Conservatives will win the next election, leaving George Osborne to implement the next stage of the agenda which is to remove independent regulation of the banks over to the Bank of England. While in Ireland the government has made a report of “urgent” budgetary measures, but has gone on summer break for 3 months and wont deal with it till autumn. By then the IMF will have taken over the country.
At this point you should also be aware that the IMF and World Banks are also owned by private banking families and the IMF ONLY lends money under the condition that they have a say in how the country is run. You have seen this time and again in Africa and the result is that the country ends up handing over it’s resources and lands to the private bankers in lieu of the IMF loans
What most people in Britain are not aware of is that the Bank of England is not exactly what it says on the tin. It is actually controlled by the Rothschild banking family and has been since the Napoleonic wars when Nathan Rothschild basically took over the country by buying up the stock market after it crashed when he gave out a story that his courier had brought news that Napoleon had won the battle of Waterloo, which was a simple and effective con. Recently just like Clinton, Brown gave the Bank total autocracy for monetary policy back in 1998 and since then, just like in the US with the autocratic Federal Reserve, certain financial houses have made extraordinary profits while the country heads for hyper-inflation.
George Osborne then will also give full regulatory powers to the privately run Bank of England to oversee the very banking institutions that control it. This is like asking the captain of one football team to referee the match he is playing in.. The net effect being that the Bank of England controllers will tilt everything in their own favour and use their power to absorb other banks and insurance houses to eliminate their competition and give them an unassailable position from which to orchestrate the new world order’s global financial governance agenda into being. This will be done after the nations have suffered massive hyper-inflation due to the policy of printing money to bail out the indebted banks of toxic debt that only ever existed in a balance sheet and never in reality. This bailout money of course gets re-directed straight back to the creditor banks who just happen to be the controllers of the Bank of England
The exact same thing has happened in the USA with Barrack Obama’s Senate colleagues using a procedural rule to block any attempt to pass Senator De Mint’s Audit the Federal Reserve amendment. Also Obama’s House speaker Nancy Pelosi is the one standing in the way of Ron Paul’s Audit the Fed Bill which now has 273 co-sponsors (63% of the House). At the same time Obama has introduced new legislation, the same as proposed by Osborne, to give the Federal Reserve even more power to regulate every aspect of the US economy, including the banking sector, i.e. themselves. Now does that sound like a President who wants CHANGE ? Seems to me to be exactly what Bush Jnr was pushing for.
So now you can see that in both nations the agenda is the same and the party lines mean nothing to them and are simply a play for the electorate to believe they are in control of their leaders. The reality is the people are not. The people are manipulated by the corporate owned press to elect the party the elites of this world want in power to carry out the next phase of their agenda
What is the agenda? One world government, one world currency, all controlled by the banking families that own our governments and who meet in secret at their Bilderberg club. This one world government will be a total control grid surveillance system. A cashless society. All movements monitored. All transactions monitored. All rights removed.
If this is the future you want you can have it but please don’t condemn the rest of us into it.