The UK banking system

[zArk]

You haven't heard of the "theory/philosophy/history" forum have you Zark...
MODS!

GS(v)

^ nice one GSV

but yet, i still cannot see how this can be classified as theory/philosophy/history when it is an economy challenge.

Yes i do talk of 'sign value' and its ramifications upon our identity but it is a valid challenge upon this economy which is produced through a private corporation.

This should be on the front page of newspapers, at least discussed as indepth as Big Brother TV Show, who David Beckham is shagging, who won the lottery etc etc

 

[A Dashing Blade]

Sale of UK Gold reserves;
Conducted by the Bank of England and sold to who they specified. <--- nice

"Between July 1999 and March 2002 the Bank acted as an agent for the UK Treasury, which initially planned to dispose of 415 tonnes (13.34 million oz) or 58% of the country's gold reserves (the sales target was subsequently revised downwards). The Bank of England held seventeen auctions, initially for 25 tonne (0.80 million oz) lots, the sales quantity per auction later being lowered to the 20 tonne (0.64 million oz) level. The final auction took place on 5th March 2002 and brought the total amount of metal sold on behalf of the UK Treasury to a little over 400 tonnes (12.86 million oz). Following the conclusion of the sales programme the UK was left with a stock of 315 tonnes (10.13 million oz), slightly more than originally forecast.

The sale of UK gold reserves generated a fair amount of controversy. The National Audit Office (NAO) was instructed to prepare a report into the method and execution of the gold sales. This report came to the broad conclusion in January 2001 that, in the designing and implementing of the sales programme, the objective of selling 'in a transparent and fair manner while achieving value for money' had been successful. However, the NAO report suggested that the Treasury review the possibility of adapting the auction design or even using the London gold fixing as an alternative or additional means of selling gold. This conclusion may well explain the subsequent decision (referred to above) to reduce the amount of gold offered at each auction."

http://info.goldavenue.com/Info_site/in_mark/in_ma_lond_boe.htm

National Audit Office report here
http://www.nao.org.uk/publications/nao_reports/00-01/000186.pdf

Dumping 415 tonnes of gold onto the market is never easy, particularly when everyone knows your going to do it. But I don't think an auction process could be described as selling to who they specified. (But hey, you decide)

 

[zArk]

read more;

In the interests of efficiency and security in the bidding process, it is the Bank's current intention that the circle of eligible bidders will comprise members of the London Bullion Market Association (LBMA), including both market makers and ordinary members, and central banks and monetary institutions holding gold accounts at the Bank of England.

http://www.usagold.com/BankofEnglandGold.html

The Bank is selling the Gold to itself.
List of Members of the London Bullion Market Association

http://www.lbma.org.uk/members_list.html


Those eligible to bid included members of the London Bullion Market
Association (both market makers and ordinary members), and central banks and other international monetary institutions holding gold accounts at the Bank of England. Bids had to be received by the Bank of England, either by
authenticated SWIFT message or in paper form, by no later than 11.30am
London time on the auction date. page 10, 5.3

http://www.hm-treasury.gov.uk/media/AA4/F6/GoldReserves.PDF

holding gold accounts at the bank of england!!!!!


this is nothing more than Legalised Theft.

 

[zArk]

when the whole shithouse goes up in smoke, what is going to be used as the yard stick?
Gold.
The age old base for economics

The UK is in deficit year on year and its growing to the tune of £400 billion.
Interest repayments are £67 billion each year

The growth of deficit has been estimated as slow growth .5% or .3% in future years.

What is not being disclosed is that this growth is exponential.

£1.5 trillion in debt, 2005. growth of 470 billion 2004.
the growth will become more than the GDP within a couple of years.

n.b this is official figures

All the gold is being hoarded, ready for this crash.
If the economy is a rollercoaster, we have reached the top of the first ramp, cut loose from the controls and teetering over the edge. There is no going back without a major rescue operation.

^ this is the system that enslaves us by our adherance to it. Its all a fraud. Money is printed out of nothing. The money we value has no intrinsic value. Its all created, its a myth.

 

[beesonthewhatnow]

Best nutter we've had in ages

 

[zArk]

Best nutter we've had in ages

You mean I read the policies, the documents and research the facts?

 

[beesonthewhatnow]

You mean I read the policies, the documents and research the facts?

Errrr, something like that.

 

[zArk]

Errrr, something like that.

deficit 2004 £350 billion
deficit 2005 £400 billion
deficit 2006 £450 billion
deficit 2007 £500 billion

by 2007 the national debt is estimated at £2.5 trillion. Interest will be £113 billion.

The GDP is calculated by percentage, as of 2005
34% collected revenue
30% next years calculated figures of collected revenue
36% borrowing

£400 billion borrowing = Collected Revenue £400 billion
next year the borrowing outweighs the revenue by official figures.

 

[fractionMan]

Errrr, something like that.

Quality.

 

[beesonthewhatnow]

everything i have stated about the Bank of England and World Banking is fact and indisputable.

Honestly, it's not, and it is.

 

[zArk]

Honestly, it's not, and it is.

lol, playing with figures. Its fucking meaningless.

1% gdp growth???
a lower rate of inflation????


imagine borrowing 400 billion a year, lol. Its fucking bonkers, just to pay it back immediately but being short by 3% of repayment (well that figure is manipulated and fudged as part of the GDP, not the loan) and the interest repayment on the entire debt.
Brown has just got passed a policy so that he doesnt have to disclose in the Budget any payments to National Rail. This is £20 billion over 5 years, just lawfully removed from the Budget figures.

Anyone ever seen the total finance papers for everything claimed and spent in the UK?
Its just a game of figures, created through fake money, created out of thin air.

 

[fractionMan]

Its fucking bonkers

No, it's you that's fucking bonkers.

 

[A Dashing Blade]

Hang on a sec zArk, "national debt" . . . are you banging on about consumer debt (ie credit cards, mortgages etc) or government debt (amount of bonds in issue)?

 

[nino_savatte]

zArk is really phildwyer and I claim my £5.

 

[zArk]

well, where is the separation?

consumer borrowing £1.5 trillion
gov. deficit 2005 £37 billion

The Uk public, trade and industry are all intertwined.

Interest rates at the BoE are stable cause the gov have sent industry aboard and brought in cheap labour from aboard. (Mervyn King stated this last year thus no interest rate increase)

House prices affect consumer debt (83% of £1.5 tril is mortgages)
Council Tax increases with house prices, gov get more money but things cost more to buy and so the spiral continues.

So with a GDP of £1.1 trllion a year and a national debt of £1.5 trillion.. the shit has hit the fan. Borrow more or pay less wages? Borrow more or claim more tax? either way the uk public is screwed.

Remove the interest on the loans and the debt is more manageable.

 

[A Dashing Blade]

I wasn't talking about the govvie deficit (gov spending - tax etc receipts), I was talking about Government Debt (often called the "National Debt") which has been financed by the sale of government bonds (aka Gilts, in the US known a T-Bonds, Bunds in Germany etc)

(oh sh*t, now he's going to go off, do some "research" and tell us how they're really issued by the World Bank . . . )

 

[zArk]

I wasn't talking about the govvie deficit (gov spending - tax etc receipts), I was talking about Government Debt (often called the "National Debt") which has been financed by the sale of government bonds (aka Gilts, in the US known a T-Bonds, Bunds in Germany etc)

All the money is printed, issued and debt to the Bank of England.

The government bonds are based within a global system of the world bank managing figures.

Whether the UK debt is consumer debt or governmental debt it is based upon money from the BoE. It is an I.O.U with no return on it.

Take a £20 note to the Bank of England and say

"this note says, "i promise to pay on demand the bearer the sum of.. £20"

they will give you 2 ten pound notes.

ahhahahahaha

can you see the loonacy?

 

[zArk]

but wait it gets funnier;

dont forget the interest on that £20.

you will probably get £10 note + £5 note + £1 coin. hahahaha

if you are lucky.

there is no gold to claim, the bank pwns all

 

[kyser_soze]

Hello-my-name-is-zArk

BZZT

I-took-the-blue-pill-and-was-reinserted-into-the-matrix-but-remember all.

BZZT

Top thread for laughs tho.

 

[zArk]

Hello-my-name-is-zArk

BZZT

I-took-the-blue-pill-and-was-reinserted-into-the-matrix-but-remember all.

BZZT

Top thread for laughs tho.

heh, read Baudrillard before I saw the Matrix mate

 

[zArk]

3 men go for a meal and when the bill comes it amounts to £25. Each man throws in £10 to the pot. They are ethical and tell the waiter to keep £2 as a tip and split the change between each of them.
They all get £1 back each. This means they paid £9 each. 3 x £9 = £27 + the waiters £2 = £29

what happened to the £1 ?

 

[Blagsta]

you can't be serious

 

[Jazzz]

Unfortunately there is a lot of truth in what zark says, though some of the details may be a bit off.

The money scam is quite brilliant and sickening once you realise what it is, and indeed it's the screw behind poverty not only in the UK but globally. Much as people want to blame capitalism, that's a smokescreen.

The fundamental scam was described by William Patterson, founder of the BoE

"The bank hath benefit of interest on all moneys which it creates out of nothing."

That's not even money for old rope! It means the public is having to rent its means of exchange. And much as one cannot bear to think of it, nearly all money in circulation (apart from a small percentage of cash) is in the form of bank loans. Which are created out of ABSOLUTELY NOTHING.

"Banking was conceived in iniquity and born in sin. Bankers own the earth; take it away from them but leave them with the power to create credit; and, with a flick of a pen, they will create enough money to buy it back again. Take this power away from them and all great fortunes like mine will disappear, and they ought to disappear, for then this world would be a happier and better world to live in. But if you want to be slaves of bankers and pay the cost of your own slavery, then let the bankers control money and control credit." Sir Josiah Stamp, Director, Bank of England, c1940.

 

[Crispy]

3 men go for a meal and when the bill comes it amounts to £25. Each man throws in £10 to the pot. They are ethical and tell the waiter to keep £2 as a tip and split the change between each of them.
They all get £1 back each. This means they paid £9 each. 3 x £9 = £27 + the waiters £2 = £29

what happened to the £1 ?

That's freaky. Hang on a minute. Um. Um.

Ah, no - you're adding the £2 on, you should take it off so it equals £25 again. I bet that puzzle doesn't work as well if you change the amounts.

 

[zArk]

That's freaky. Hang on a minute. Um. Um.

Ah, no - you're adding the £2 on, you should take it off so it equals £25 again. I bet that puzzle doesn't work as well if you change the amounts.

it works exceptionally well every single day.
The bill is in the billions of pounds and the 'missing money' disappears into someones pocket.

 

[zArk]

Unfortunately there is a lot of truth in what zark says, though some of the details may be a bit off.

The money scam is quite brilliant and sickening once you realise what it is, and indeed it's the screw behind poverty not only in the UK but globally. Much as people want to blame capitalism, that's a smokescreen.

The fundamental scam was described by William Patterson, founder of the BoE

"The bank hath benefit of interest on all moneys which it creates out of nothing."

That's not even money for old rope! It means the public is having to rent its means of exchange. And much as one cannot bear to think of it, nearly all money in circulation (apart from a small percentage of cash) is in the form of bank loans. Which are created out of ABSOLUTELY NOTHING.

"Banking was conceived in iniquity and born in sin. Bankers own the earth; take it away from them but leave them with the power to create credit; and, with a flick of a pen, they will create enough money to buy it back again. Take this power away from them and all great fortunes like mine will disappear, and they ought to disappear, for then this world would be a happier and better world to live in. But if you want to be slaves of bankers and pay the cost of your own slavery, then let the bankers control money and control credit." Sir Josiah Stamp, Director, Bank of England, c1940.

lovely quotes

 

[zArk]

The UK population is in the clutches of a tyrannical system which has impacted upon the world in the most devasting way imaginable. Countries under this control of private banking systems are interlinked through the BIS, IMF and World Bank. As the western world turns attention to 'terrorists' the general public have little time to pay attention to the machinations of the private monetary system and its effects. The war on terror has taken hundreds of thousands of lives in the name of democracy, a democracy which shields from view the corporations that hold political power in a strangle hold. Iran is now the focus of this War on Terror.
Iran has a National Public Banking System which shines brightly against the torrent of threats by the western privatised countries.

Tariq Ali
he referred to Tacitus' report that Agricola, Roman consul of Britain, gave as his reason for invading peaty, cold, bleak and seemingly unimportant Ireland: "An unoccupied land gives ideas to people in occupied lands."

 

[A Dashing Blade]

. . .
Whether the UK debt is consumer debt or governmental debt it is based upon money from the BoE. It is an I.O.U with no return on it.
. . .

Erm . . . the UK govt has redeemed (ie paid back) a shedfull of gilts over the last 20 years (this is the reason the UK Govt retains it's triple A credit rating, the UK Govt has not defaulted on any Govt bonds over the last 200 years). In fact, the lack of long dated Govt paper is a significant factor in exacerbating the current pensions "crisis".

 

[Blagsta]

it works exceptionally well every single day.
The bill is in the billions of pounds and the 'missing money' disappears into someones pocket.

You need some arithmetic lessons.

 

[beesonthewhatnow]

3 men go for a meal and when the bill comes it amounts to £25. Each man throws in £10 to the pot. They are ethical and tell the waiter to keep £2 as a tip and split the change between each of them.
They all get £1 back each. This means they paid £9 each. 3 x £9 = £27 + the waiters £2 = £29

what happened to the £1 ?

I was shown the maths behind the supposed "missing" pound for this in a first year maths lesson.

If you are seriously using this an example of your point you truely are an ignorant twat.