No wait that’s not right, the Bank of England wants to print 75billion pounds and give it to private banks to pay of a fraction of their bad debts so the UK taxpayer will not see a penny. Apparently that is a better use of the money than paying for 866miles of super high speed railways. I get the figures for the railway from here
Apparently the best way to spend 75billion pounds to get the country out of recession is to pay off a fraction of the debts of private banks.
Paying off a fraction of the debts of private banks is apparently better than paying off the debts of small businesses or paying off the personal debts of the UK people.
The tax payer paying off the debts of the banks is apparently better for the UK economy than paying all the monthly mortgage repayments in the UK for 9months.
Of course it is.
(Total mortgage balances outstanding in the UK is a round a trillion pounds. Assuming the average mortgage has 10 years left to pay that amount monthly amount paid for UK mortgages is around 8,333,333,333GBP or 8.3billion GBP per month. If the 75billion pounds were used to pay the outstanding debts of the people that would equate to about 9 months of mortgage repayments.)
From these figures it is obvious that the Bank of England is not acting in the best interests of the UK taxpayer and are acting in the best interests of the banks who control the Bank of England. The government have give the Bank of England a monopoly on the supply of Sterling so I believe Britain is fascist regime.
Your local politician is assisting the private mega banks instead of you, a law abiding citizen of the UK.
And if there was any doubt the Deputy Governor of the Bank of England admits that he is deliberately trying to wipe out the savings of people who want or are saving money.
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