Archive for the ‘Finance & Economics’ Category

Jeremy Corbyn wins two Labour leadership election victories but will be enough for the Blairites?<

September 26, 2016

Jeremy Corbyn wins two Labour leadership election victories but will be enough for the Blairites?

By Dark Politricks
Dark Politricks

 Jeremy Corbyn wins yet another Labour election victory
Jeremy Corbyn wins yet another Labour election victory but will it stop the Blairites attempting another coup?

Guess what…

Jeremy Corbyn has won his Labour Leadership election battle against the unknown (to me at least until this content), Owen Smith.

I don’t find it a surprise, I don’t find it a shock I find it a waste of time and a stupid exercise by Blairites and their followers who they co-erced into joining their coup as a massive custard pie in the face. They have really wasted some important months when they should have been attacking the Tories on

  • BREXIT and what’s happening with it (I have no clue).
  • Our new PM Theresa May and how she has gone back on many of David Cameron’s policies – which should really trigger a general election but as the Labour party were in no fit state to fight one they got away with it/
    The re-introduction of Grammar Schools.
  • The possibility of Scotland holding another referendum to leave the UK.
  • China building our nuclear power station and security issues around this.
  • So many other items to mention.

This is what satirist Jonathan Pie thinks about the re-election of Jermey Corbyn.

This year he won with 61.8% of the vote to Smith’s 38.2%.
Last year he won with 59.5% of the vote against the other 3 candidates.

This must tell you something. Maybe that the people and the Labour members want him as their leader no matter how much the press attack him all the time and try and portray him as unelectable?

Are the Blairites mad, do they not realise that the Labour party and the part of the country who are left wing actually WANT Jeremy Corbyn as the leader. Not some air brushed, PR managed, speaker phone in a suit, controlled by HQ who says what he is told to, and has no real opinions or beliefs of his own?

We don’t want constant US led war, like a puppy on a lead.

“Lets go bomb this country now UK our Special Friend”, and then afterwards whilst the people are all still fighting in a civil war, or forming new terrorist groups we can later control for our own ends, we can let all the US corporations get the oil rights such as Halliburton.

Plus all the contracts to rebuild the roads and hospitals that we bombed for no reason in the first place can go to US companies formed for exactly this reason.

Special Friend? The only thing special about our relationship with the USA is that we get to sleep in the wet patch afterwards and have little say when the “special” part is about to start.

We don’t want to to give banks money at 0% interest rates whilst we all have to suffer with 10%+ or if your stuck then WONGA or 1 of the hundreds of pay day loans that have sprung up much more.

Is that not a sign something is wrong?

When the public have to pay 1000s of % APR for their money? Do you know the pay day loans interest rates at the moment.

  • WONGA – 1,177% APR
  • Satsuma Loans – 1575% APR
  • Sunny – 1,299% APR
  • Square Today Short Term Loan – 1265% APR

I could go on, but that seems wrong to me, especially when all these payday banks are owned by the same main banks at the top anyway. It seems to be one of our only growth industries in the UK at the moment along with online Bingo, Poker and Gambling sites. That doesn’t say much for our economy does it?

If your a normal person, I consider myself normal believe it or not, then we don’t want our economy to built on services that milk the common person so that big banks get even richer and the poor poorer. No, we want to re-focus it so that we have a skilled manufacturing base, a decent job for university and apprentices to enter into after work not fill the shelves at Lidl.

We want high tech, high skilled people and a way for those who have fallen off the track due to ill health or long term joblessness to get back into those jobs through free training. Not punishment by taking away benefits because they have an extra room in their flat, or they don’t have a computer so that have to spend their meager benefits on bus fares into town to use the library to search for jobs as they currently have to do.

Call me stupid but we don’t want to privatize everything from education to the NHS. Privatising the National Railways when you think about it can’t be competitive anyway due to not having the ability to have 2 trains running on the same line at the same time to the same place. Isn’t that what competitiveness should all be about?

Unless you are going to allow each railyway company to build their own tracks through the country (which would take decades due to planning permission and all the rest) then you should make our railways a decent public transport option for the nation by making them fast, on time, reliable and cheap. If you did all that more people would leave their cars at home, help the environment and use the trains like they do in Spain and France.

Why is it in Spain I could travel overnight and back to a place the same distance as London for a couple of pounds on a clean railway when here it costs me the best part of twenty pounds, and more if it’s overnight?

No it has to be all about money and putting it into the pockets of companies after we have sold the rights for a few billion. It’s a stupid mentality only dreamt up by the Tories and Blairites.

The same goes for education. Education should be for life. People should be able to re-skill throughout their lives without forking out thousands in loan repayments. You should be able to go to University for free, another Blairite scheme that has just expanded the cost of education to those that can afford it again and again.

Cut the amount of money we spend on a useless Trident scheme that relies on US GPS (so they could turn it off if we went rogue), and the trillions we have spent on wars over the last decade and we could easily afford free education for all for life.

If you are unemployed you should be able to get onto any workplace training scheme or educational course you want for free.

It costs a lot more to have a jobless person claiming benefits for their home, pocket and council tax for years on end than it would for a year or two at a college.

We also have to admit that some of the things Blair and his cronies and followers did that were very bad for the country and it’s future as well as the world’s e.g Iraq, Libya, Syria, Afghanistan and voting in the Tories time again won’t sort that out.

PFI was a nightmare for a start, one that will cost over £200 billion in the next 35 years. This will lead to hospitals and schools going broke if not already due to these huge debts they are with debts for the next 20+ years. Yes we may have build a lot of new schools and hospitals due to PFI, but the one thing we didn’t build was houses – why not?

Was that because we couldn’t find a way to allow the private sector to milk the taxpayer as they do with the others. Currently schools and hospitals have to pay contractors up to £100 or more to change a single light bulb if it breaks in a classroom instead of just calling out their handy man to do the job for them.

I remember being at school with a handy man who did all the odd jobs around the place and we all loved him more than the teachers.

He did everything that needed to be done and he cost a hell of a lot less than what schools are currently paying for fixing anything broken at the moment.

Just think of the waiting time for the private contractors to arrive for one, and then the inflated costs all to fill their pockets. What is the point apart from a one off payment from the private company to fill whatever gaping hole the treasury currently has and then face decades of debt?

Of course it doesn’t worry the MP’s who put it into action as they will be long gone by then. They are probably working for the same companies who are running the PFI schemes they helped push through parliament with their votes no doubt.

Also I don’t want to bail out the banks without jailing the directors as Iceland did. The people who led us into the 2008 crisis in the first place should be punished like any other criminal. I want some justice for all this mess and austerity everyone is facing.

Why are we giving banks money at 0% when we could be making National Bonds for investments in house building that will return a nice profit for investors, much needed jobs flooding in and most of all provide the housing people need?

These are all things Jeremy Corbyn wants to do. I can’t find a fault in it so please leave your comments to what is so stupid about these policies please.

From the Guardian

Jeremy Corbyn has pledged to “wipe the slate clean” after winning a convincing victory in Labour’s bitter leadership battle, securing 62% of the vote.

Speaking after the result was declared in Liverpool, Corbyn thanked his rival, Owen Smith, and urged the “Labour family” to unite after the summer-long contest.

“We have much more in common than that which divides us,” he said. “Let’s wipe that slate clean from today and get on with the work we’ve got to do as a party together.”

Corbyn secured 61.8% of the vote to Smith’s 38.2%. The victory strengthens his hold on a party that has expanded dramatically since the 2015 general election and now has more than 500,000 members. In last year’s contest, he won 59.5% of the vote.

Corbyn won a majority over Smith in every category – members (59%), registered supporters (70%) and trades union affiliates (60%).

 

View the original article at the main Dark Poltricks web site at Dark Politricks where you can get even more #altnews and daily politics away from the lamestream media

By Dark Poltircks

© 2016 By Dark Poltircks

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Five more years of hell as the Tories win the UK election

May 19, 2015

Five more years of hell as the Tories win the UK election

By Dark Politricks

Did any of you foresee the result of the recent UK general election in which the Tories won an overall majority despite every poll leading up to the election calling it too close to call.

There was a general expectation across the media that there would be another hung parliament and probable coalition government with the Lib Dems as King Makers.

The multitude of polls preceding the election were very wrong, whilst the exit poll was spot on.

This led to ex Lib Dem leader Paddy Ashdown to embarrassingly have to “eat his cake” on the subsequent BBC’s Question Time due to his comments on election night TV that:

“If these exit polls are right I will eat my hat” – Paddy Ashdown

His party, the Lib Dems were almost wiped out and went down to single figures losing 49 seats and leaving just 8 MP’s in parliament.

Major party figures including Danny Alexander the ex chief secretary to the Treasury, lost their seats in the decimation of the party.

Along with 2 other party leaders, one of which changed his mind after a day (Mr Farage), the Lib Dems leader Nick Clegg immediately resigned leaving the future of the party in doubt along with Labours.

The Labour party also had a bad night, almost being wiped out in Scotland, and losing 26 seats. However Labour still managed a 30% share of the popular vote despite pundits calling the election “too close to call” right up until the votes came rolling in for the Tories across England.

The Lib Dems were never going to be forgiven by their core voters for joining the right-wing Tories instead of their natural cohorts, the left leaning Labour party, in a coalition. Many Tory back benchers were very unhappy at the unequal number of Lib Dem ministerial posts that were given out to their junior partners in the collation that was, as we were kept reminded, in “national interest”.

Whilst they may have helped prevent some Tory excesses and helped push the amount you can earn before paying income tax up above £10k, they showed their lack of respect for the voters, mostly young and left leaning, when they broke a much publicised pre-election promise never to raise University tuition fees. This promise was broken almost as soon as Nick Clegg got made Deputy PM and access to ministerial chauffeurs and apartments.

Lib Dems sign pledge with top students
The Lib Dems sign pledge with top students never to raise tuition fees

Tax breaks for the rich, a raise in VAT which is a tax raise that affects the poorest the most, a massive failure to reverse the huge police state Labour had built up and a decimation of the benefit system to save money instead of taxing the banksters who had caused the financial crisis were all unforgivable as well.

We were kept being told that the deficit was shrinking whilst in fact it grew along with the national debt. The last Government was not a success story at all.

Maybe Nick Clegg saw joining the Tories as his only chance to get some modicum of power whilst he could. He must have known the writing was on the wall when he basically stuck two fingers up at his constituents and joined the Tories. Letting the banksters get off scot-free, supporting the Tories war on Libya and speaking out for Israel instead of condeming it when it attacked Gaza which was quite common to hear when they were the third-party with no expectation of favours for power. However the change in stance and policy to fit in with the Tories were just some of the things that annoyed grass root Lib Dem voters.

He thought the electorate were willing to vote for constant coalition with a referendum on a change in voting but the country wasn’t ready for the watered down choice they had to make. Maybe if they had made their point after the recent election more people would have been willing to vote for a change.

You just need to look at how the popular vote in the recent election matched seats to see how many people would be pissed about the current voting system.

The Green party and UKIP together won around 16% of the popular vote (5,038,712 votes) yet only returned one MP each to Westminster.

Yet on the other hand the SNP won far less when it came to the popular vote, Scotland has a population of 5.2 million and only 1,454,436 people voted for the SNP, yet they took all but 3 Scottish seats, 56, a massive gain of 50!

They almost managed to take every single seat in Scotland but instead chose to leave one each for the major 3 parties taking the remaining 50 seats. The SNP are sending a nationalist mob down South who want to see an end to the union and more Scottish powers devolved. This includes the articulate and always enjoyable to watch debate, former leader of the party, Alex Salmond as an MP.

People who had never thought about electoral reform are now calling for it.

Those people who say we only just had a referendum on changing our first past the post system seem to forget that the choice on the cards for voters was not a proper proportional system but instead a form of alternative voting. This is where you would mark an alternative candidate who would take your vote if no-one managed an overall majority.

It does seem odd that Scotland’s 1.5 million voters can send 56 MPS to Westminster yet England can vote over 5 million to achieve just 2 MP’s.

From the BBC News site.

UK vote share after 650 of 650 seats

Political Party % of Popular Vote
Conservative Party 36.9%
Labour Party 30.4%
United Kingdom Independence Party 12.6%
Liberal Democrats 7.9%
Scottish Nationalist Party 4.7%
Green Party 3.8%

So now without the Lib Dem’s “Steadying Hand“, as one of their election adverts put it. There to prevent Labour spending all the cash again and there to prevent the Tories from being too mean, we are now left with an overall Conservative majority.

That means that there is no-one to stop them hammering away at the poor whilst letting their rich benefactors and friends all off with tax cuts and a far too complicated tax system that provides enough loop holes for most of the Tory front bench to keep multi million pound trust funds overseas and away from the UK tax man.

Did you know that the UK has the longest tax code in the world?

Surely this is a money bomb for accountants and the rich looking for loop holes.

The Hong Kong tax code, widely held by tax lawyers to be the most efficient in the world, is a mere 276 pages long.

The British tax code which has tripled in size since Blair got into government in 1997 is currently in excess of 17,000 pages!

If our government really wanted to claw back some money from waste they would surely shorten this gargantuan piece of legislature.

As anyone knows the longer and more complicated a piece of legislation the more loopholes and get out of jail cards are to be found within its pages.

Instead they will carry on using their right-wing supporter rags of papers, the Sun and The Daily Mail, to attack benefits claimants and the poor. Obviously forgetting the fact that benefit claimants had nothing to do with the banking crash or the dramatic rise in the national debt and deficit under the previous two administrations.

Why is it we have still not seen any bankers jailed from the illegal behaviour from banks like HSBC who laundered drug cartel money, terrorist funds and more?

Instead they get $1.9 billion fines in-case the banking system is “destabilised“.

I don’t understand why their banking licence could have been kept whilst still jailing the bankers in control of the slush funds and drug cartel accounts as an example. London must continue to be the bankster capital of the world it seems. This won’t change under any Tory administration.

What will change under the new Government?

Well let’s watch embarrassingly as our country, who actually came up with the European Convention on Human Rights, pulls out of the Human Rights Act. This is despite the fact that it was written by Conservatives after World War II to show the newly freed countries that some things related to a countries ethics and morals should be set in stone and not relative to a countries current situation.

This will be something that will not only be a massive blow to civil rights in this country unless replaced by an English Bill of Rights that actually means something and is kept to, not invalidated bit by bit over the years as the US Bill of Rights has  been.

People don’t seem to realise that the Human Rights Act although abused by a small minority of terror suspects in jail or on control orders trying to prevent extradition to countries where they will be tortured – including the USA – is there to protect them as well.

You may read the odd cherry picked Daily Mail horror story about the new Abu Hamza we can’t extradite to a country X or Y where they maybe tortured or executed. Why, because we have morals and see ourselves as a civilised country not a 7th century Islamic State where heads roll as often as the weapons we sell them are unboxed.

The national debt will continue to grow due to the lack of GDP, plus the interest rate apartheid which sees banks loan money from the Bank of England at half a percent whilst the average man now has to rely on WONGA loans with an APR of 1,500%.

The current national debt stands at £1.36 trillion, almost triple the £0.53 trillion it stood at in 2008, the time of the economic collapse and grows at £5,170 per second.

As stated on the National Debt Clock website:

“Mainstream media headlines today are focused on Britain’s record national debt, which just surpassed £1 trillion, a figure that can only exponentially increase unless the entire mechanism of Government finance is overhauled. The truth however is much worse, factoring in all liabilities including state and public sector pensions, the real national debt is closer to £4.8 trillion, some £78,000 for every person in the UK.

Our National Debt Problem

UK National Debt
UK National Debt Over Recent Years

During 2007, the Labour government borrowed £37.7bn, of which £28.3bn was invested in big projects (the balance of £9.4bn represents the current budget deficit). However during the last government during 2013, the Conservative-led coalition borrowed £91.5bn, with just £23.7bn invested.

So when you hear George Osborne talk about fixing the hole in the roof or reducing the deficit / national debt, take it with a big pinch of salt.

Read this article by the BBC on the different terminology and numbers related to national debt and the deficit.

Instead of recouping and saving billions by doing just some of the following ideas they are mostly going to attack the poorest in society, both here and abroad.

Saving some money…

Save £34 billion by not replacing Trident, the non independent nuclear deterrent.

It really pisses me off when I hear MP’s call our rotating Trident submarines at sea an “independent” nuclear deterrent. This is because they all rely on US GPS satellite systems. Unless we put our own GPS system up into space we would always have to ask the permission of our US allies to fire any nuclear missiles anyway. Therefore it makes the whole system redundant. What if we had to go to war with the USA? Why not save the £34bn and spend it on the NHS instead. Nukes are not going to help in the war against terror and when China and the USA finally duke it out our piddly number of missiles is going to be inconsequential when it comes down to it. Satellites will be one of the first victims of any war between the US and China. Falling from the skies like rain drops in any major conflict as China and the USA race to become the superior technological and information power house before any real bullets or nukes are fired. As China showed the world in 2007 when it downed one of it’s own Satellites with weapons from earth, it is willing and able to take the modern battlefield that one step further and into space by making the US armies massive reliance on information and technology redundant.

Not blindly following US Foreign Policy and going to war

We seem to blindly follow US policy as if it’s our own. The wars in Iraq and Afghanistan have cost the UK £20bn by 2010 and the final cost when you add in extras such as the cost to society due to the fact that a large proportion of homeless people, those with mental health problems and prisoners are ex service men will increase that by the end of 2015. Add to that the £1.75bn cost of David Cameron’s war in Libya and the cost we are now dealing with due to the failed states we have created across North Africa, people smuggling into Europe, and increased security checks on immigrants due to fears ISIS is using people trafficking to implant sleeper cells in the country and the cost of recent wars reaches £12bn. This does not even include secret wars such as our involvement training fighters in Syria, Ukraine and Yemen.

Cracking down on Companies avoiding tax

During 2010-11, the HMRC estimated that companies were avoiding tax worth £4.1bn however some campaigners such as Richard Murphy of Tax Research UK, think that the real figure could be £12bn or more. This is not even including the amounts of money “legally” avoided by our huge tax code that gives corporations such as Vodafone the means to avoid £6bn in tax during 2010, an act which spawned the anti-austerity protest group UK Uncut.

Added together legal and illegal tax avoidance could easily be in the £20bn+ figure per fiscal year.

These are just 3 things that could be done to prevent more austerity whilst increasing spending, generating growth by creating jobs and not wasting money on pointless exercises in hubris by going to war to destroy a country only to spend more money trying to re-construct it and deal with the aftermath of failed states such as Libya and the recent people smuggling epidemic.

Has David Cameron even admitted that the hundreds of people dying in the Mediterranean are related to the failed states of Libya and it’s neighbours which we helped create. From Tony Blairs 2004 kiss with Gaddafi in the desert to blockades to prevent immigrants reaching Europe in two easy steps.

Blair meets Gaddafi
Tony Blair makes up with Col Gaddafi in 2004

The problem with people smuggling from Libya to Europe
A cramped boat full of desperate people trying to flee the failed state caused by David Cameron and the Axis of Wars destruction

Will the Tory government do any of these 3 easy ways to save dozens of billions of pounds?

The answer is obviously no.

The divide between the rich and poor will get wider.

The people who keep the lights on in London won’t even be able to afford to live in the city they work in due to the average house costing £350,000. Even in certain rich areas of London like Kensington, up to 70% of houses are classified as “Second Homes”. Even the local paper shops for the rich people of Chelsea are shutting down due to the influx of rich Chinese and Russians buying up our capital city.

Instead the Tories will attack immigrants, benefit claimants, people who cannot get good jobs and rely on job seekers allowance and more diversionary tactics as they continue Maggie Thatcher’s dream of a total privatised country.

We only have 5 more years until we get another chance to vote for a party to represent us. The problem is there doesn’t seem to be a party on the horizon I can see myself putting a cross against anytime soon.

Labour is Tory Lite, and with the resignation of Ed Milliband, a person many could never imagine seeing as PM, much in the same way I can never imagine Boris Johnson as PM, let alone Mayor of London, we have no real party that represents the people anymore.

The Greens did well to get 1 million votes but with our current system of voting, one MP per million votes in England is not going to get us far and they still have an environmental edge that puts many off them despite the fact that if you read their manifesto there would be many aspects to it that you could find yourself agreeing with. Maybe it is just the fact that they are led by a woman and their only MP, Caroline Lucas from Brighton is a woman who puts many working class men off from voting for them.

Personally this election, I did as I said I would and spoilt my ballot paper. This was because there was no-one on it that represented my views. I live in an area where Tories have always ruled and there is no chance of Labour or Lib Dems getting in instead. In one election in my ward Labour and the Lib Dems didn’t even try to contest the seat which allowed the racist BNP to come 2nd!

I hoped enough people would do the same so that even this amount of spoiled papers would have to be recorded along with party numbers and shown in graphs such as the one from the BBC website I put on this page.

From anecdotal evidence from people I spoke to at various events and groups I know quite a few people also spoilt their papers.

The news even carried a story about someone who spent the time and effort to draw a tiny little penis inside the square of an incumbent Tory in Wales. However because the drawing was within the confines of the box it was actually counted as a vote rather than a spoilt ballot!

I would still love to know how many people did write “None of the above” or spoilt their ballot in some way or another.

If you took the effort and time out of your day to go and vote there should be a “None of the above” option by default to measure peoples dissatisfaction with local politicians or political parties. However because there isn’t we should create our own.

Hopefully by the time of the next election a party which doesn’t represent the Axis of War, Austerity, Tax cuts for the rich and attacks on the poor will emerge, a bit like how the Unions created Labour. The only exception is that we don’t want to see our new party being taken away from us slowly and infiltrated by MI5 to ensure when it becomes electable it’s going to be “establishment ready” like MI5 asset Tony Blairs successful attempt to turn Labour from a real Left wing socialist party to Tories with northern accents.

We have plenty of protest groups about but no political consensus or a political body that we can use as an umbrella for them to rest under.

Students, the young unemployed, the people who cannot afford to live anywhere due to the lack of cheap housing, the anti-war brigade, the pro privacy, anti GCHQ/NSA Pirate groups. UK Uncut, Occupy, anti-austerity groups, religious organisations and charities that manage food banks and support the poor. These are just a few of the protest groups around at the moment.

Groups helping wounded soldiers and soldiers disillusioned with the wars they have been forced to fight. People working 50 hour weeks on minimum wage or not being able to take loans out at decent interest rates due to interest rate apartheid. These are more people who might be looking for a new political home.

Basically anybody who doesn’t want to see the gap between the rich and poor get wider would be a perfect member or voter for such a Peoples Party.

In the meantime let’s just hope we still have a public NHS, a decent benefit system and proper jobs with decent pay in 5 years time rather than another tripling of the National Debt and more lies about reducing our debt that the current Chancellor likes to spiel.

View the original article Did you foresee the Tories winning the UK election at the main site www.darkpolitricks.com.

© 2015 Dark Politricks

Are the UK Government using PPI and Banks as a way to put money back into peoples pockets?

March 17, 2013

Are the UK Government using PPI and Banks as a way to put money back into peoples pockets?

By Dark Politricks

I just saw an advert on Channel 5 USA (a UK channel) in which a PPI Claims company said that if you had taken a loan out within 15 years and had added Payment Protection Insurance (PPI) then you could attempt to claim it back.

Now I had taken a load of loans out in my youth, with PPI, and when the first adverts started appearing the adverts were only saying that you could claim the money back if you had taken a loan out within the past 3 years. I didn’t do anything because my loans were 10 years old.

However it seemed that the time length that you could claim for was extending and extending every few months. It seemed to coincide with the UK finances getting worse and our GDP going down and inflation going up.

First I started seeing adverts for 5 then 7 years and then when I first saw an advert earlier this year for 10 years I was straight on the phone. I shouldn’t have gone through one of the “specialist PPI companies” however it was money I wouldn’t have got back if I hadn’t of attempted it in the first place – so in reality it was literally free cash in my pocket.

From an initial 3 years to 15 years is a long time and I have a feeling that the government is hoping that PPI payouts will help stimulate the economy by putting money back into people’s pockets in a stealthy Keynesian method without any government minister having to  admit to it of course! Austerity, Austerity – that is the only way says our supposed economic wizard George Osborne.

It is Georgey boy who’s claim that our deficit and debt would be reduced through his spending cuts and VAT tax rises would have started working by now. Anyone with half an eye can see they blatantly haven’t done the job.

Their are no private jobs rushing in to fill all the public ones he is gutting. He is forcing people off disability allowance onto job-seekers (a much lower benefit) and making them look for jobs that don’t exist.

He is introducing “bedroom” taxes  for the poor so that people with extra rooms have to give up more of their money or move across  the country to places where one bedroom flats exist. All the while he is cutting public services and yet at the same time he has reduced the top rate of tax for the richest people in the country. What happened to “We are all in this together”?

The politicians know the banks were mainly to blame for our current crisis and the UK is one of the most indebted nations on the planet.

This doesn’t only include Government debt but personal debt as well. All through the later 90’s, and the years of the Labour government, people were re-mortgaging their houses and spending the money or having loans literally thrown at them by the banks. I know for a fact I and many other people I know were.

After the first law suit over PPI was won by someone years ago the banks have had to set aside billions in case they had to pay out more to future customers who were mis sold PPI.

From The International Business Times

PPI has become the biggest mis-selling scandal to hit UK banks and they have repeatedly underestimated the scale of the problem.

Britain’s biggest retail bank, Lloyds Banking Group Plc , has set aside 6.8 billion pounds for PPI compensation. Barclays Plc has set aside 2.6 billion and RBS has provisioned 2.2 billion.

So far the banks have set aside around £20 billion and the payouts so far amount to £8.9 billion.

Payment Protection Insurance was meant to protect borrowers against redundancy and sickness , but it was often sold to customers who didn’t want or need it or who couldn’t claim it even if they took it out. People such as those with certain medical conditions or people who were self employed. Often, like myself, I had PPI added to my loans or credit cards without my knowledge!

The worst thing, in my mind anyway, was that if you had to claim (as I did once) the money from the insurance only lasted for a year. Plus the amount the insurance cost you worked out exactly the same as if you had added an extra years worth of  loan to your original debt. It was a total con!

Because the UK finances are in such a state and recent news reports show customers are holding back from buying goods. I have a sneaky feeling that the government is secretly hoping that the PPI payouts will be a way of putting cash into potential shoppers pockets to stimulate the economy. The added benefit of course is that it’s all at the cost of the banks who caused the mess in the first place.

To me it sounds like a good plan. The banksters are the ones who caused the mess and I am not joking when I said they used tot literally  throw loans at people.

For instance I was given a £5,000 loan when I left college with no job or way of paying it back. Then every year the same bank would give me an extra £5,000 – £7,000 loan and overdrafts up to £3,500 to pay back the outstanding amount and give me some more spending cash! It was truly a time when “debt was good” and people didn’t think about the future.

As a young man who didn’t really think he would have to pay back the money anyway (I had a bit of death wish back then, plus the money management skills of a frog) it seemed like free money and I grabbed whatever the banks would offer me. One of the things I often feel our schools let the population down with is real world lessons in living. How to manage money, how to look after yourself, how money works, how to use logic and reason and think for yourself.

Young men are worse than woman who are often taught these skills from their mothers so if the schools are not teaching the boys and they are not getting taught at home they are left to the mercy of the loan sharks and banksters. Shuffling money from one account to another to pay off monthly repayments and sticking to the minimum payment to keep them off your back is not exactly “good” money management!

Unlike other people I know who “went missing” for 5+ years and now have mortgages and are debt free. I honestly OR  stupidly (pick your own word) decided to pay off my debts. Even thought this took over 6 years I managed to do it. Therefore when I saw the opportunity to reclaim all the PPI which amounted to around £5,000 I took it.

Some credit cards I didn’t even realise I had PPI on at the time and on other banks I had no details apart from the name of the bank but their customer service department returned a list of 6 loan accounts taken out within 7 years. I used one of these companies on TV but didn’t realise they took a THIRD of the money as recompense for doing the job you could easily do yourself.

Luckily for me they forgot about one loan and I got £2,000 all to myself without deductions but I would recommend anyone who has ever taken a loan out in the last 15 years to check if they can reclaim the PPI on it.

The Government is not helping us and the banksters who caused the mess are still making billions therefore we should not feel sorry for them in the slightest.

Just remember if the EU can order the Cypriot government to just take 10% of any bank savings without your say then who is to say the UK government won’t do the same?

I would expect the time you can claim for any PPI to continue to go up and up until either the banks have dolled out all the money they said they set aside years ago but haven’t given out yet. Or until the UK GDP rises above a single percentage point for more than 3 months in a row!

To anyone thinking of claiming their PPI back I would definitely recommend everyone to do the work themselves. It is not hard.

You can just write t o the banks customer complaints department and ask for all your loan details that had PPI on them, then write a letter back saying you want your PPI money for any of the following reasons:

  1. You were not informed that the PPI protection would only last a year.
  2. The PPI was added without your consent.
  3. You were self employed which meant the PPI wouldn’t cover you.
  4. You were depressed or had another medical complaint that would have meant the insurance would not be paid out.
  5. You were not informed you wouldn’t get the insurance if you were sacked.
  6. The PPI insurance was not fully explained to you at the time. Most of the employees who sold the PPI will be long gone and those that remain won’t remember what  they said when they sold it to you. Therefore this is probably the best one to use as they will not be able to re-call what they said when they sold the loan to you.

A good thing to do is to write off to one of these PPI companies, get a payment pack sent to you and see what sort of questions they ask you to answer. All they do is use the answers and send the paper work off to the same places you could easily do. Therefore use these packs as a guide and write to the same Financial Ombusdman yourself if  the Bank doesn’t pay out after your first letter of complaint.

Remember – this could be your chance of getting out of any recent debt. If they are going back 15 years then I would guess that the majority of adults in this country would have had a credit card or loan within than time. Even if you don’t think you took PPI out it is worth checking in-case the bank added it on without your knowledge.

View the original article “Are the UK Government using PPI and Banks as a way to put money back into peoples pockets?” at www.darkpolitricks.com

The Too Big To Prosecute Banks

January 20, 2013

The Too Big To Prosecute Banks

By Dark Politricks

Whether you are from the right or the left. A libertarian or Socialist. A person of religion or atheist. It should be clear from all the reports on this site and the many other #altnews (alternative news) sites that a globalist attack on the common person is occurring and probably already here and flourishing.

Guns are only a small part of it and whether you are against gun control in the USA or for it there is no stopping the two tier system that is being constructed around us with every terrorist attack, new domestic spy agency, the war on our liberty and now the two levels of law that plainly exist between us and the too big to prosecute banks.

This was proven the other day when it was basically admitted that HSBC was too big to be prosectued or have people go to jail for their behaviour when  they were caught out breaking numerous embargos, banking with Iran, using Mexican Drug Cartel money and basically being the “bank for terrorists” even going so far as to tell Iranian banks how to format digital transfers so that the USA would not spot and block them.

Just so you don’t think I would make something like this up. Here is an extract from the New York Times:

LAST month, HSBC admitted in court pleadings that it had allowed big Mexican and Colombian drug cartels to launder at least $881 million. The bank also admitted to using various schemes to move hundreds of millions of dollars to nations subject to trade sanctions, including Iran, Cuba and Sudan, in violation of the Trading With the Enemy Act. “On at least one occasion,” according to a statement by Assistant Attorney General Lanny A. Breuer, “HSBC instructed a bank in Iran on how to format payment messages so that the transactions would not be blocked or rejected by the United States.”

Those were some of the transgressions uncovered during a two-year investigation led by the Justice and Treasury Departments and acknowledged by HSBC in a settlement, known as a deferred prosecution agreement, that was filed in a federal court in December. Not a single executive was charged with a crime. Instead, the bank paid $1.9 billion in fines and forfeitures — or roughly 10 percent of the pretax profits it earned in just 2010, one of the more than five years during which it admitted to criminal conduct.

There are now banks that are too big to fail and now with HSBC banks that are too big to prosecute!

Whereas we mere mortals can be hauled up to the local courts for non payment of our loans and mortgages and are charged high fees by our banks when we miss a direct debit or go over drawn we are playing on a very uneven playing field.

We are playing against banks who know that they can take our savings and pensions and gamble them on the worlds biggest casinos e.g Wall St and the London Stock Exchange. Knowing that if they land on black whilst betting red the tax payers of the countries they bet in will be forced to bail them out.

Now with the “Too Big To Prosecute” Banks like HSBC, we have banks that know that they can circumvent laws a normal business cannot, take and launder drug money or even give the local terrorists loyalty cards for being such good customers.

They won’t end up in court like you or me.

They have reached the pinnacle of globalist entities where national laws no longer apply and being an international entity is protection enough from countries wishing to stop their illegal behaviour.

These global monsters are eating up our economies and whilst the poor are being over taxed, worked to death and losing their side of the social contract left, right and centre the swinging doors between business and government allows these beasts to do as they want.

We often heard during the banking crisis that the only real liquidity in the system at the time was drug money and I suspect that the reason HSBC isn’t going to be punished is down to the knowledge by politicians that it was this drug money that was keeping the house of cards that we call our global economic system from toppling over.

As that recent article by Washington said:

  • There are two systems of justice in America … one for the big banks and other fatcats, and one for everyone else. See thisthisthis and this.
  • The system is rigged to allow the big banks to commit continuous and massive fraud, and then to pay small fines as the “cost of doing business”. As Nobel prize winning economist Joseph Stiglitz noted years ago:

The HSBC scandal is just another nail in the coffin of capitalism and the myth that we all live under the same rule of law and can expect to be treated evenly and fairly by  the courts if ever convicted of a crime.

We are living under a globalist Corporatocracy in which global entities can ignore local tax codes by placing their headquarters in tax havens and threaten whole governments that they will just up sticks and move if threatened with over bearing rules and regulations.

Dastardly threats that should they have to play by the same rules as all of us or even have to pay an extra tiny tax on their high frequency trading, trading that means computers trade against others causing huge dips in markets, they will just move to a more “lax” climate. As if there were any more lax places left for them to go.

If you are foolish enough to think that your money is safely invested in one of these bankster operations then you are indeed an idiot.

All we are to these monstrosities is extra spending cash for the casino and if your rich enough to trade properly at big enough amounts then you are just a series of trades to be jumped in front of by the super computers wired up to the trading floor. All so that the Morgan Stanleys and Goldman Sachs of the world can front run you and make money of their knowledge of your own business dealings.

They are no longer companies who’s aim is to make money for their customers. No their aim is now to make money for themselves by using their customers as tools to aid them with their illicit and immoral money making schemes.

This is not capitalism.

This is not even socialism, apart from when the banks fail and get disproportionate hand outs by us tax payers.

This is a mix of gangsterism and fraud all signed off and under written by your very own government.

The more of us who understand this new business model we are now living within the better.

Whether you are from Occupy Wall St or a Tea Party follower you should be just as disgusted as the rest of us who see what is happening in front of us on the daily news channels.

In this new world we are all just worker ants getting ready to serve the Queen for low wages, low benefits and no equality under the law when it all goes tits up.

We are living in a new feudal system in which the hope of King John signing a new Magna Carta or a real Bill of Rights that applies to all of us equally being formed and kept to, is as far fetched as Piers Morgan actually being deported from the United States of America.

Welcome to the new century of too big to fail, too big to prosecute and too big to care a tiny shit about you and your inconsequential problems.

 

View the original article about “too big to prosecute banks” at www.darkpolitricks.com

The Grand Bargain will prove Obama is no progressive and that it’s business as usual in Washington

November 14, 2012

The Grand Bargain will prove Obama is no progressive and that it’s business as usual in Washington

By Dark Politricks

There has been a lot of talk lately about the “Grand Bargain” that is going to be made between Obama and the GOP to try and balance the books and prevent the government’s having to deal with the “deficit cliff” that would massively reduce spending and raise taxes.

This is something Cenk Uygur talks about in this video. About how the real aim is to let the right of centre President Obama make a deal with the Republican party in the lame duck session so that business can continue as usual. The real aim being to once again lett the poor and the middle class suffer by giving away cuts to their services and benefits in exchange for tax cuts to the wealthy. Once again the poor get screwed so the rich can get richer.

This is something that Cenk’s math’s shows is totally unnecessary and can be avoided just by letting the George W Bush tax cuts expire by kicking the ball into the long grass and waiting for a Democratic controlled house.

Although Cenk is obviously a liberal he is someone who attacks both Obama for his non progressive views and his right of centre beliefs.

As I previously stated if Obama WAS a true liberal he would not be doing any of the following:

  • Allowing the Federal government to go after State legal pot dispensaries for medicinal marijuana.
  • Also threatening the new states Colorado and Washington who have recently legalised recreational marijuana with the DEA. Both wasting time, money and ignoring the wishes of the states population. See the Anti State Rights Pledge here.
  • Continuing the war on terror in a more forcible way than his predecessor George W Bush. Including drone strikes that kill 49 civilians to every 1 terrorist.
  • Letting soldiers based in America use Playstation controllers to kill people halfway across the world as if it was just another version of Call of Duty. Then already de-sensitised by not having these soldiers in the “kill zone”, seeing the carnage they have wrought first hand, they use a double tap method to kill anyone else who comes to the aid of the victims whether they are women, children or other non combatants.
  • Introducing blatantly anti-liberal laws such as the NDAA, continuing the State of Emergency enacted after 9.11 and letting the PATRIOT ACT continue on harassing and spying on citizens and journalists alike who are trying to bring some accountability to the government.
  • Allowing his much “celebrated” health care act to become a piece of legislation that both liberals and conservatives hate in that it forces people to pay for a product they may or may not want or use. He modelled it on a Republicans health care plan (Mitt Rommey) and is basically forcing people to become customers of the health insurance companies. A true liberal would have gone for a public option or none at all not giving an already rich sector of business a market that is compelled to buy their product.

Also if Obama was NOT an establishment stooge he would surely be doing all of the following:

  • Locking up the banksters that brought the USA and then the world to it’s knees financially.
  • Not allowing the FED to continue printing money and devaluing the dollar in a race to the bottom that is killing savers and de-meaning true capitalism.
  • Not appointing neo-con and right wing ministers to head up agencies in Homeland Security, the DEA, the CIA and the Department of Defence.
  • Cutting and not increasing the Department of Defences already bloated budget and using the money to fund projects that help middle class Americans NOT the military industrial complex.
  • Reeling back the intrusive surveillance state that has seen a million Americans become holders of top secret intelligence clearance and introduced huge city sized databases such as the one being built under UTAH. All to hold all the information gained by spying on American and Europeans bank records, phone calls, text messages, CCTV footage (see TRAPWIRE) and Internet usage.
  • Allowing big business and well funded lobbyists to dictate his policy instead of trying to take corporate money out of politics.
  • Following the right wing pro-Israeli line that all American Presidents seem to take. Forgetting all their breaches of international law, illegal wars, assassinations in foreign lands, illegal settlement buildings and illegal blockades that Israel constantly inflict on Palestinians and their neighbours.

However Obama is not a true liberal.

He is a centre right politician who is both an establishment stooge and someone beholden to big business and the banksters who robbed the country.

He is also someone all too willing to compromise what little beliefs he has to get bi-paritsan support in Congress whether or not that means sacrificing whatever little principles he may or may not hold.

As Cenk says:

“First of all, let’s establish that no one in Washington actually cares about balancing the budget. If they did, they would love this so-called Fiscal Cliff. It raises taxes and cuts spending, so it would massively reduce the deficit. Isn’t that what all of Washington has been pretending to care about all of this time?

Second, understand that this so-called compromise they are talking about in order to avoid this supposed calamity is a trick. In fact, it’ll be the greatest robbery in American history. Think about it — they say they are worried about all those tax increases and spending cuts. But that’s not true. The Grand Bargain would dramatically increase spending cuts, not alleviate them. So, in fact, the only thing they care about is paying less taxes, as always.

Watch Cenk explain his maths and the unfairness of the “Grand Bargain” below.

Watch uploaded videos from the The Young Turks here.

Follow me on Twitter at twitter.com/darkpolitricks

View the original article on www.darkpolitricks.com here.

f President Obama is a bad President then what will Mitt Romney be like?

September 6, 2012

If President Obama is bad then what is Mitt Romney?

By Dark Politricks

Last week was the GOP conference in which they inaugurated Mitt Romney as their choice for Republican presidential candidate. This was the man that during primaries no Republican commentator really wanted and in the end he was the least bad choice out of a very bad lot. As soon as he was anointed though they all changed their tune pretty fast as all they care about is getting President Obama out of office and handing over the country to corporations and banksters.

Despite Ron Paul sticking it out to the end of the GOP debates he has been overlooked and out of the nominees he was the only one who offered some real choice for the public if nominated.

I’m not saying that I agree with everything Ron Paul stands for but personally I think America needs some form of “America United” ticket that would bring the massively obvious culture war to an end and hopefully restore civil liberties, end the wars, end the FED, end the unauthorised spying and now authorised detention without charge or even execution on Presidential demand.

A ticket of Ron Paul and Dennis Kucinich would have brought Libertarians, Republicans, Democrats, Liberals and independents together to vote for a return to an America which wasn’t constantly at war and didn’t go around the world invading countries because it thought it was “exceptional”.

Hopefully he will stand as an independent or if possible on the libertarian ticket although I think it’s too late for that. Apart from that you have Roseanne Barr and Cindy Sheehan on the Peace and Freedom Party ballot which won’t be on enough ballot papers to even make a dent in the billions of dollars thrown behind Mitt Romney and his attempt to hand the USA over to the Corporations. It looks like the American public are going to get more of the same – just under a different name.

Therefore apart from little differences there is not much choice between Romney and Obama as both are globalists, beholden to the banksters, warmongers and debt drivers and voting Republican really won’t make much difference to your life apart from if your poor as you will probably find yourself in a Middle Eastern desert somewhere fighting another war the country doesn’t want or even need.

From the seemingly non-educated, racist, totally dumb and sometimes loony ideas or comments mentioned by some of the other delegates during the debates and interviews it was clear that Romney was going to be the least worst option from the selection of Republican nominees.

It is also clear to me as an atheist that American Christians will forgive even the most despicable actions as long as the person involved “repents” or pretends to. I know Christians are supposed to forgive so how about forgiving some of the thousands of locked up victims of the war on drugs and ending capital punishment? That would be true forgiveness.

Now I am no Obama fan, I was glad he was voted in purely for the fact that it showed that America could and would now vote for a black President but on the policy side of things I think he has let the country down badly by breaking all the promises he made on the campaign trail.

Some of these promises he could have just enacted when he had control of the Congress and Senate but he chose instead to form bi-partisan support and was rebuffed on many of them. Then after the landslide victory that saw his control of the house fall away to dimwits like Michele Bachmann and co he has had to fight twice as hard to get any policy through. Maybe that was the plan.

It was clear from day one that many Republicans didn’t want to even give Obama a chance despite their passing over to him the worst economy since the great depression and a huge amount of debt as well as two wars, a rendition and torture program that has blackened the USA’s name around the world and a massive TARP balout scheme that enraged many from Tea Partiers to Occupy Wall Street protesters.

Seemingly Clint Eastwood and many other Americans forget that it wasn’t Obama but George Bush that started the longest war in America‘s history in Afghanistan, a war that is now plagued by constant attacks by Afghan troops on NATO soldiers.

They also seem to forget that it was George W Bush that turned Clinton’s legacy into a huge mountain of debt due to his tax cuts to the rich, TARP and his war on terror. It’s truly amazing that only 34% of Americans realise that it was Bush not Obama that passed TARP!

US Debt over the years

If you read up on the history of US national debt you will find that it is Republicans that usually ramp up the debt to fight wars.

World War II saw the US entering new debt territory never seen before starting at 4% of GDP in 1941 it increased to as much as 122% of GDP in 1946 at the end of the war. The next 35 years saw successive governments try to bring down the debt, but then came the Republican God President Reagan. He increased the federal debt by over 50%of GDP to win the Cold War – a money war of attrition the USSR just couldn’t win.

President George W Bush was the next Republican to increase the debt to fight his war on terror, give tax cuts to the rich and bail out the banks.

President Obama was then handed a bad hand that no incumbent would chose to take on willingly and his increasing of the the debt has mainly to be fund economy revival plans after the crash of 2008 – plus the funding and expansion of Bush’s wars.

Whilst it is true Obama has increased the debt ceiling to amounts not seen since the World War he was passed a huge burden from the previous administration and with low growth, a credit crunch and a stalled economy he attempted Keynesian economic policies of borrowing to grow GDP to get out of the hole he was in. Some say Keynes is wrong, others like Paul Krugman say that President Obama just didn’t spend enough on the stimulus in the first place. Whatever the answer the debt mountain may have increased under him but it was definitely not created by Obama.

However President Obama has failed on a number of promises he gave when he was campaigning for his first election and the “change” we expected didn’t turn out as we hoped it would.

He has failed to bring Wall St into line after they recked the economy and instead passed ineffective and bloated laws like the Dodd-Frank act. Many believe he should have re-enacted the Glass Steagall Act and split the banks back up into gambling banks and banks for us “little people” who want to save, borrow and be safe in the knowledge our money won’t be gambled away by an automated front running high frequency trading bots using our money as bets on that biggest of gambling dens known as the US Stock Exchange.

He has failed to repeal the Emergency laws Americans are still living under since 9.11, dictatorial powers that allow him to assassinate Americans abroad without a trial and seemingly label protesters as terrorists just so they that cannot protest against him as we just saw with the arrest of James Tyson 0n his way to protest outside the Democratic National Convention.

Drones now fly the skies of America and the TRAPWIRE system has every American under surveillance at all times.

America is not the place it was before Obama OR George Bush took over the Presidency.

So I don’t think Obama is a good President and I have wrote such in many articles including (but not limited to) who is worse Obama or BushThe very non liberal Democratic partyAmerika a modern day East Germany, Does the American public want more of the same, or more of the same under a different name, and Is President Obama really a Communist or is he more of a dictator?

So please don’t call me an Obama fan because I’m not!

However when it comes to a choice (a non choice really) between Obama and Mitt Romney you should ask yourself the following when casting your vote in the US Presidential Election 2012.

1. Who is more likely to get your country into a war with Iran in the next 4 years Obama or Romney? The British Royal family send their sons into war zones to fight, Prince Harry into Afghanistan and Prince Andrew in the Falklands. However I cannot seem to recall an active US President who  ever had their children in the military and active war zones during their Presidency. If you can think of one please let me know.

2. If the market was let free to run as it (and the Koch brothers) want it to, and a company like Bain capital came along to the place you worked and sacked you because they were going to offshore your job to India or China – who would you trust more to look after your jobs and keep them in America. Would you just put your hands in the air and go “well that’s the free market for you” or would you protest the off-shoring of US jobs that Bain Capital has been so good at during the years and is still doing.

3. Are you worse or better off now than 4 years ago? Are you worse off or better off than you were before Ronald Reagen took office? Before he started his supply side economic experiment and his economic war of attrition with the USSR which saw the countries debt rise, the country turn from an exporting nation to an importer, a country in debt to China and now one mired in constant war.

4. What is more important? Letting already very rich people (billionaires and millionaires) have more money through tax cuts or asking them to pay a little more to help get the country out of the mess it is in. The tax rates during Republican Presidencies in the past were in the 70-90%. Why should they be so low now. Just look at the following graph to see how low the top rate of tax is compared to historical rates during both Republican and Democratic presidencies.

The top bracket of income tax (35%) sits is very low compared to historical rates
A history of the top rate of US income tax over the years.

5 Should the boss of a company be able to pay less tax than his secretary? Only the rich can afford fancy lawyers and accountants to ensure they can use offshore accounts and only pay capital gains tax instead of the normal rates of income tax everyone else has to pay.

6. If you were born a poor child to a single mother in a poor part of town with no money logic dictates that you wouldn’t have the same life chances as a rich child born into privilege. Life just isn’t fair as people say. The poorer child is more likely to end up in prison, die young from poor health, get a worse education and have less opportunity to meet the “right people” and succeed in life.

If you believe in a meritocracy where everyone has the same chance to succeed in life with hard work and a fair even playing field where law breakers (e.g banksters) go to jail and companies don’t get the law retrospectively changed once it’s been found out they have broken it then how does this happen without some kind of intervention by government. Do you think that the governments job is just to let these people live in squalor and probably commit crimes against you just to survive? Or should they try and even out the playing field a little and give everyone the opportunity to succeed in life whether they were born rich or poor?

7. If you think Obama has told lies – what about Romney. He basically invented Obamacare which his state is happily using but rails against it on a national platform. He has flip flopped on more issues than people can count. Could you trust a man,  a “multiple choice” President, who’s answer on a question changes depending on the time of day, his age and the questioner?

8. Do you think a super rich business man who has paid hardly any tax to the country he hopes to run. A man who aims to be the front man for the Koch brothers and give even more money to the top 1% is a man who can be trusted to keep your job safe? Do you think you are more or less likely to have your job off-shored to China or India under Obama or an expert in off-shoring jobs – Romney?

9. Were you born into money or had to earn every penny you own? Have you ever had nothing, I mean zilch. Slept on park benches and friends floors because you had no-one to help you.

What if you lost your job, then your house and family due to your job being off-shored or your company going under. Who do you think is more likely to help you out a Democratic or Republican government. Or do you think the government should not give a flying fxxk about you and just leave you to rot away until you commit a crime that hurts another American citizen and puts you in prison at the expense of the tax paying population?

10. Do you really think life will change a lot if Romney is elected. What things will actually change in your day to day life. Do you trust him to keep any of the few promises he has made so far on policy such as abolishing Obamacare whilst keeping it in his own state?

Let me know the answers in the comment section to the question: If President Obama is bad then what is Mitt Romney?

Simon Jenkins believes we should be giving the printed money to the people NOT the Banksters!

July 28, 2012

By Dark Politricks

I saw an interesting interview with Simon Jenkins on This Week last week in which he described how at the moment we are stuck in a liquidity trap and the only solution we have is to print more money in the hope it sorts out the dying victim e.g the UK.

As he said:

“the government would be better off giving the billions of pounds it plans to pump into the UK economy to the public in the form of a Christmas bonus.”

“The columnist damned the government plan to get out of recession, claiming “it’s fraud, it’s a scam, it’s a lie”.

However as the Bank of England enters phases of printing money – or quantitative easing as they call it, Simon Jenkins believes that they are giving the money to the wrong people i.e the banks.

He believes that instead of increasing the deficit by the Bank of England buying bonds from the banks and paying interest and all the other funny business our economy actually behaves like we should instead be giving the money direct to the people to stimulate demand in the dead economy before we suffer a lost 20 years like Japan.

Keynesian, yes, but he believes that although printing money could eventually drive up inflation – which we are doing already by printing money to give to the banks.

We should instead be printing it and giving it directly to the citizens and tax payers of the UK.

The same people who are now paying for the mistakes of the bankers. He believes that by doing so it wouldn’t be adding to the national debt or increasing the deficit as it wasn’t money being borrowed but printed.

By doing this demand in the economy will be created as the people will use the money to buy goods and services which in turn would help businesses who will start to invest and grow for the future.

Whether you like the idea of not what we have at the moment is a case of the government taking tax payers money as well as printing and borrowing it to hand it over to the same banks who caused the financial collapse of 2008 in the hope that they will in turn use it to help businesses.

In fact what these banks are doing are using the money to shore up their empty vaults to meet Basel Capital requirements that they must hold a certain percentage of money in their bank.

The fact that nearly all these banks have no money and it’s just one big stack of cards waiting to fall down as soon as a country defaults and can’t pay back Bank A, who in turn cannot pay back Bank B who in turn asks the government for another bail out is irrelevant.

Anyone who knows how money is created knows that it is created through debt and new money is created every-time someone takes a loan out. That money is then multiplied and leveraged beyond belief even though it doesn’t physically exist apart from digits in a computer database.

If there was no debt there would be no money – simple.

It’s all one big ponzi scheme anyhow as we all know by now which is run by banksters who launder money for Mexican drug cartels, wide boys who fix Libor interest rates, and interchangeable politicians / bankers who move from one job to the other and then back again.

All as if there was nothing wrong with a politician developing banking policy that helps push millions of Brits over the financial cliff and then go off and work in one of the banks they created policy for once they are finally voted out of office.

Simon believes the politicians and those that demand we must be austere wince at the idea of giving money directly to people as it seems somehow vulgar. As if giving billions of our tax pounds direct to the same people who caused the mess so that they can carry on giving themselves huge wages and bonuses isn’t somehow!

So if we are already using a Keynesian economic policy that is being masked as an Austrian one through the use of the words austerity, the cutting of  public services, and all the other spending cuts that the millionaire front bench don’t rely on then why don’t we try to stimulate demand by giving the money to the people rather than the failed banks and businesses?

We could even tailor this arrangement so that it doesn’t seem so “vulgar” by declaring that the money is a once off (or yearly) dividend to all tax payers who helped bail out the banks. Banks we basically own anyway.

The money could be in the form of a special coupon or voucher that was only redeemable in this country (to stop people putting it in offshore bank accounts or saving it in UK bank accounts).

The voucher would be accepted in any UK based shop or business as legal tender and that company would then be able to redeem it for cash if they so wished from the Treasury by taking it to a bank or a special government office.

To stop people just turning up at banks and transferring the coupons to cash there would be a stipulation that only businesses could redeem the vouchers and only as long as they had a receipt showing the goods or services purchased with said voucher. Other ways could be created to prevent fraudulent black markets transference we Brits are so good at.

Also we could have a “double the value” scheme in which if  the holder of the coupon bought goods made in the UK (not in China with a made in UK sticker on it!) then they would get the item, good or service at a discount. This would help stimulate the UK manufacturing industry.

Obviously this would only apply to tax payers and not people on the dole or those who have no intention of ever working.

Different sizes of voucher would be created just like paper money so that change could be given in other vouchers and there would be a “use by” date of one year to ensure it was spent within a certain time frame. It would basically exist like a dual currency alongside the existing fiat one we call the pound.

You might not like the idea or the theory for many reasons including it’s Keynesian nature but we are already in a double dip recession with no hope of growth on the horizon and a growing national debt due to all the dole money having to be paid out to the public service workers the Tory/Lib Dem coalition have sacked.

If they somehow expected the private sector just to zoom in and suck up all these workers they were poorly mistaken.

Our chancellor George Osborne has failed in what he set out to dogrow the economy and cut the debt so we need some kind of plan.

Giving money to the banks has failed so why not give it to those of us who have basically saved the country anyway?

If 20 million or so people all spending a few billion pounds in the UK economy this year doesn’t help it grow at all then we are truly screwed.

It’s only an idea but one which few people seem willing to consider for some reason.

What if the ultra rich liked paying taxes rather than abusing their power

July 12, 2012

By Dark Politricks

I have just watched last nights episode of Tom Hartmans “The Big Picture” on Russia Today (watch live online here)

Tom is obviously a Democrat and a liberal but in his last segment something he said I found quite interesting.

Basically the leading founding father Thomas Jefferson  knew the dangers of corporations and unlimited greed and said so in a great speech – abbreviated here:

“I hope we shall crush… in its birth the aristocracy of our moneyed corporations, which dare already to challenge our government to a trial of strength and bid defiance to the laws of our country.”

Thomas Jefferson obviously was aware of the dangers of unlimited corporation power, money and influence and it would be good if some of the Tea Party members who are so fond of the founding fathers actually read more of what they actually said about standing armies, corporations, a Federal bank and undue political influence by lobbyists.

Tom Hartman then followed that up with other Presidential quotes throughout the ages all of which said that there was little need for people to earn so much money that it couldn’t be spent in their lifetime.

Not only does it prevent a true meritocracy from occurring – as huge amounts of wealth are passed down the family line like an aristocracy – the thing the founding fathers fought against in the American Revolution. But it leaves people with so much money that could be used for the good of the nation as a whole except many of these super rich people would rather pay no tax at all than do some good for their country. It also showed that high tax rates have no correspondence with job creation, productivity or industrial or technical innovation.

As you can see Tom’s main point was that the top rate of tax has dropped from a whopping 94% in the mid 1940’s, to 70% during the 1970’s and then its current position of 35% and this has no correspondence with the high times of American society.

It does however correspond with huge wealth inequality between the rich and poor. With the richest few percent getting richer and the middle classes basically staying the same. Tickle down economics doesn’t seem to work too well it seems.


Historical US Tax Rates

During the 1950s and early 1960s, the top bracket income tax rate was over 90% and the economy, middle-class, and stock market boomed.

The 1950’s were a golden time in American society where there were plenty of jobs, houses, affordable education and guess what – the richest few percent (those job creators) didn’t up sticks and leave America to another country with lower tax rates. They stayed and paid their taxes.

He also talked about a study that showed that once a person is earning enough money to cover all their basic needs e.g housing, food, travel, clothing etc then earning more money does NOT make them happier.

This reminds me of learning about Maslows hierarchy of needs at college.

Maslow's hierarchy of needs

Once you have all your basics covered, maybe married or in a relationship and doing a job you like or maybe other activities that fulfill your life then your pyramid of needs are satisfied.

The question then becomes what happens to all those people who have so much money that there is nothing left on earth to do with it.

I am talking about people who earn billions of dollars, fly around in private jets, own multiple huge boats and have garages full of the latest Ferrari’s and Porches.

They may play golf all day or do other hobbies but I reckon there is another need that is missing from the pyramid that only comes when all the others are fulfilled and the person has  enough money to achieve or attempt to achieve it plus a certain character trait that is the opposite of altruism – a hunger for power.

Some people are born alpha dogs, others aren’t.

Some people in the old days where physical power was all that mattered would have been battered to the floor and trod over like a carpet (people like Bill Gates or the Koch Brothers for instance).

Today things are different and money (lots of it) equals power or the ability to achieve it through various means. This might mean running a huge global corporation or the attempted ownership of countries and even blocks of them (i.e. the EU).

This is what many people believe the Citizens United Ruling has allowed to occur with the super rich trying to “buy” the Presidency through their use of Super Pacs, and huge financial donations.

Whereas Obama is having to rely on lots of small donations and seems to have lost out on those big money givers he had last time around Mitt Romney only needs to attend a couple of functions with the Koch Brothers and he walks away with a few hundred million dollar bills in his pocket.

These ultra rich are not “wealth generators” or “altruistic job creators” for if they were they would say to themselves:

“Well I have more money than I can ever spend in my lifetime. Or leave to my children who will just end up spoilt entitled brats who probably won’t do a day’s work in their lives. With all this money I will do something good for my country and leave a lasting legacy like the Victorian philanthropists and I don’t mind taking a hit on my immense fortune by opening factories and other businesses in the USA and pay the taxes and benefits that come with creating jobs in my country.”

“Yes it might cost more than off-shoring all my labour and manufacturing to China or India but as I have more money than I could possibly spend it makes no difference to me if I have to pay slightly more in wages or health benefits if it means that it brings jobs back to desolate American towns like Detroit or New Orleans.”

No instead of thinking like this they chose to play king maker and attempt to buy the Presidency with Super Pacs and huge donations to their desired candidate (or the one they are stuck with e.g Mitt Romney)

People with huge amounts of wealth could do immense amounts of good to the people of the earth and I am sure lots of them exist but when the ultimate pyramid slice at the top of Maslows Hierarchy becomes “ultimate power” you end up with Koch Brothers buying Presidencies, Bilderberg, Bohemian Grove and huge experimental projects that are doomed to failure like the Euro.

You also end up with Banksters who have so much money that the only joy they get out of life is making billion dollar gambles with pension funds on the stock market, derivative overloads and the fixing of Libor interest rates. All of which have unintended consequences that affect whole countries and even the world as we are currently experiencing.

You are either this kind of person or you may have an altruistic personality, probably non alpha males, who chose to spend their money on charitable organisations. Building schools and hospitals in under privileged areas and all the sort of things that leave a lasting legacy once they are gone from this earth apart from a mention in a Wikipedia article as one of the banksters who was complicit in the great financial meltdown of 2008.

This leads me to another interesting point in which an ex female banker appeared on the “This Week” programme last Thursday in which she said that due to the “alpha male” culture of bankers in the City of London there was more risk taking and therefore potential for disaster.

If women ran banks and trading floors she reckoned the financial crisis probably would never have happened in the first place.

An interesting thought…

Will a European Revolution emerge out of the Greek tragedy

July 1, 2012

By Dark Politrcks

I’ve just watched a documentary about the problems facing the Greek people at the moment during these times of austerity and supposed “solidarity” between Euro nations.

Some facts from the documentary include:

  • 1 in 3 Greeks are now living below the poverty line.
  • Over 50% of young people are unemployed.
  • New measures have meant that charges for public services that were once free – for example any visit to the hospital now incurs a charge even if you are skint.
  • Whole government departments are being shut down with the poorest Greeks suffering the most. For example they have just closed down the social housing department. This is the department that manages housing for the poorest people who might have no jobs, money or place to live. I cannot even imagine living in a country without a social housing department. Thousands of people have lost their jobs and  millions of poor people will be affected by the closure of this department.
We all know the reasons for the Greek crisis but the person making the documentary didn’t seem to realise the reasons the Greek people were in the position they were.
The complaints of the people on the streets were those heard all around the world from the Occupy Movement to the real Tea Party to protest movements all across Europe.
  • Why should the poor and middle class pay for the mistakes of the Government?
  • Why are  the banks bailed out with tax payer money but then carry on with their casino banking ways. Not providing loans to small businesses whilst betting and losing millions daily on the stock exchange casino.
  • The bailouts are not for the benefit of the people suffering to pay them back they are going straight to pay off debts to other countries and banks. All the while the people suffer austerity measures and the future generations are thrown away to pay off the mistakes of the current banksters and corrupt politicians.
  • Corrupt politicians have taken the shilling to allow corporations build, permits given, eyes turned and so on even if their corrupt measures mean more suffering for the people.
  • Massive tax evasion has left a big hole which would help pay back debt straight away. From the poor to the rich tax evasion has been a national pass time according to some. Apparently 15 billion euros a year in Greece are lost through tax evasion and a new law being brought in means if even €1 is evaded the person faces jail time.

Proud people who once had jobs and money are now going to the many free charity doctors, food handout outlets and clothing swaps that have cropped up all around Greece.

People covered their faces in shame as they saw the camera as they didn’t want people to see how far they have fallen, from someone with a job and money to someone siting in a handout shelter.

The Greek circle of doom is one of debt piled upon debt, job cuts and tax increases all to stay in the magical club of prosperity the EU.

  1. Who will pay these taxes if there are no jobs?
  2. Who is going to pay to go to the hospital when you are injured but have no money?
  3. Who wants to work but can’t find any jobs because the tourism industry has collapsed and the government is decimating public service jobs?
  4. Who wants to survive on food handouts and get their clothes from charity shops and clothing swaps?

We now how the Greeks got in this mess and they should never have been let into the EU in the first place if it wasn’t for that moralist of banks Goldman Sachs helping to hide Greek debt so that they could pass EU tests.

Who went to jail for this massive fraud that has caused immense suffering and will do for years ahead?

We all know the EU was a political project and that the politicians and globalists behind the scenes want to keep it alive at all costs even if millions of people across Europe don’t want to. The Euro is a failure and a single Europe has been a politicians wet dream of politicians from Roman times, to Napoleon, Hitler and now the string pulling puppet masters of Europe.

The question is how long before these politicians realise this massive failure or new ones are elected that will demand real change?

I already know the answer never.

With their nice fat wages, pensions and benefits that are all designed to effect even the most populist politician and bring them into the “establishment fold” politicians ethics and morals are easily turned to dust. I could count on both hands the politicians I know around the world that stick to their words and vote according to their principles rather than their party line or because promises are made to benefit them personally.

If change comes to Europe it will be through a popular revolution as people can only put up with so much before they resort to kicking off.

Whatever happens in Greece will spread across Europe like wildfire. To Spain, Portugal, Italy and if the northern countries start suffering even more then I can see a popular revolution across Europe easily spreading by the younger generation as it’s the youth who’s future has been sold off to pay for the older generations mistakes.

They will take things into their own hands. There is only so much hopelessness a person can take, and a person with a head full of ideas but no outlet for them will find revolutionary groups attractive prospects for their thoughts and dreams.

We are having it bad at the moment in the UK but nothing like Greece.

However if it gets to the stage where whole European countries are going bankrupt and debt piled upon debt is seen as the only answer then we are in for major trouble and we aint seen nothing yet.

If the youth in London riot for fun, joining in looting and arson just because “they can” then imagine what it will be like if Greek austerity measures hit us full on hard like a steam train.

As the poor in Hackney watch from their council flats as the banksters continue to reap in huge rewards even as story after story of banking failures, missing billions, bad bets and hidden fraud fill the papers then they won’t stay happy for long.

When their council homes are taken away and charges increased or cut altogether for public services people rely on then it is only a matter of time.

The Euro has failed the question is how will it be dismantled by the votes of politicians or by the bare hands of the suffering people.

Quiz Are you only against an American police state when “your man” is in the White House?

June 17, 2012

By Dark Politricks

This a pop quiz to see if you are a free thinker who chooses your morals independently of whether “your guy” is in the White House or someone who sees right and wrong whichever side of the coin is in power.

1. Are you someone who is attacking Obama‘s expansion of the war on terror. His increase in drone strikes and failure to close Gitmo. The  killing by Presidential decree and implementation of civil liberty destroying measures such as increased Internet Spying and the implementation of the NDAA?

2. Were you doing the same when George Bush was implementing the PATRIOT ACT and using warrant-less phone hacking. Allowing his Vice President to have a personal execution team to take out enemies of the state and using extraordinary rendition and torture to gain information from prisoners who were mostly innocent people sold to the Americans by the Afghan warlords. Were you decrying  the implementation of drone attacks which de-link the close up smell and emotion of a killing from the deed turning it to nothing more than a real life video game? Did your protests stop when a Democrat “you could believe in” entered the White House and then carried on the Bush policies?

3. Are you someone supporting the Occupy Wall St’s desire to have real banking reformstop bailouts of casino banks that waste billions on bets or “hedges” like JP Morgans’s recent London Whale and want to close the disparity between the top 1% and the rest of America. Do you mind that during the worst depression of our lifetime the wages of those in the top percent of the country have increased by staggering amounts whereas the lowering, devaluing dollar that means lower and middle class families are seeing real price increases, inflation and lowering living standards?

4. Were you supportive of the original Tea Party and Ron Paul when they were making some of the same claims. Did you change your support of economic policy when Bush left and Obama entered the White House. Do you think it matters who sleeps in the White House bed when the FED can print money, loan out billions to foreign and domestic banks on a whim and devalue the dollar in your pocket without any political oversight?

5. Is it moral or ethical to kill an American citizen without any judicial process even if they are not in America at the time of the killing?

6. What about if they were in America? Should the President be able to sign your death warrant like an English King without your knowledge and without any recourse to  court?

7. Is it okay to kill a Jihadist in Pakistan by drone attack because a CIA agent “thinks” they have the right person in Langley, Virginia?

8. Is it still okay if 50 innocent Pakistani villagers, woman and children are also killed at the same time?

9. What about a thousand people? What number is a legitimate figure for “collateral damage” in these kinds of attacks?

10. What if you later find out that the Jihadist wasn’t killed at all and it was a case of mistaken identity. Was the attack still justified? What recourse should the families of the dead victims have against the American government who is supposedly not at war with Pakistan?

11. If a gang of burglars broke into your house in the middle of the night, shot your dog dead, beat you with sticks and de-humanised you in front of your family. Should you have the right to fight back, to kill if necessary to protect your family and possessions?

12. What if the gang wore SWAT uniforms and were following a false tip phoned in by a jealous neighbour or they thought you were smoking marijuana. Should the fact that the state is the gang of thugs killing your pets and beating you make any difference to your right to defend your family and your property?

13. Do you think Obama is bankrupting the country by increasing national debt?

13. What about President Bush or President Reagan? Does your perspective of national debt change depending on whether you are a Republican or Democrat or is debt, debt no matter who is President? Both Bush and Reagan increased the national debt by huge amounts – what is the difference between  a Republican increasing debt and a Democrat?

14. Do you think Obama wants to turn your country into socialist Cuba by having a health policy that actually allows poor people or those with existing conditions to get affordable health care?

15. What would you do if you lost your job due to a bank bailout and a house repossession caused by policies enacted under George W Bush and you couldn’t afford your health insurance?

16. What would you do if you broke your leg or had a serious disease. How would you treat your condition? Would you use the most expensive health care system in the world by turning up at your local Hospital Emergency department?

17. Do you think that a healthy work force is a productive one? Or should people born into poor families through no fault of their own be left to suffer and die due to lack of money?

18. Do you think war should be decided by Presidential decree alone or that Congress should vote on every decision that sends peoples children into harms way? Should Congress vote according to their conscience or their parties line on the matter?

19. Do you agree with the wars in Iraq and Libya. Were you against the war in Iraq when Bush was President and for the war in Libya when Obama was? Why was  that?

20. Do you want your country to turn into a modern day Police state where all communications are listened to, automatically filtered and then decisions about whether you can leave and enter the country or travel by plane decided by a text message or email?

21. Should the TSA be able to touch your wife’s breasts and touch your children’s bodies all in the name of protecting the homeland from terrorists disguised as 4 year old white boys and 80 year old grannies?

22. Should people be able to speak out about government abuses, criminal acts and actions that break international law if they feel that the people have a right to know? Does the law apply to everyone or just the serfs and not the landowners?

23. Should these whistle blowers be punished for breaking “secrets act” laws or praised for following their conscience?

24. Should the American government force private companies to stop trading with people and organisations that try to bring the truth to the people. Knowledge and misdeeds that your government would rather you didn’t know about such as the illegal bugging of UN dignitaries or the massacre of innocent people in a war zone?

25. Do you want to live in a world where it is increasingly hard to tell the difference between your once free country and a banana dictatorship that kills opponents on a whim, uses torture and prison without trial, prints money to cause inflation and goes to war to distract the people from real problems at home?

26. Do you really think that by electing Mitt Romney as the next US President anything will really change?

27. If Mitt Romney is elected do you think jobs will suddenly come flooding back to America from all those companies like his own and Apple who offshore them to Chinese cheap labour camps?

28. Will Romney stop the FED printing money and will the government never raise the national debt under his presidency?

29. Do you think that he will stop or expand the war on terror and increase it more to the homeland by naming US Citizens as domestic terrorists. Do you think you are on one of the government watch-lists right now?

30. What can you do about it?

Please put your ideas in the comment boxes.