However, the recent use by the British government of £57 billion pounds, to prop up a morally hazardous bank, must be advertised loud and wide to enable people to make their own minds up. So thank you, Daily Torygraph, for pursuing this story with such tenacity:
Northern Rock rescue to cost us £1,800 each
As the Torygraph says, the money recently spent on our behalf by Mervyn King, Alistair Darling, and Gordon Brown, is enough loot to pay for:
- A cut in VAT from 17.5 to 6.5 per cent for a year
- The removal of fuel duty for two years
- The suspension of corporation tax for a year
What's even worse than this theft, however, is the unreported story of how this £57 billion pounds will more likely distort the economy - it is far worse than the Torygraph imagines. Because Gordon Brown will blanche at making the necessary government spending cuts or increasing taxes to cover this largesse.
No, what he will do instead is allow the Bank of England to print up all of this money out of thin air, and then when the fractional reserve system gets hold of it, it will fornicate with itself to become an extra £570 billion pounds floating around the economy (or over a trillion dollars). This extra counterfeit money, backed by no real underlying economic goods, will then cause all of the usual horrible economic distortions that any counterfeiter creates by printing fake money, only on a much more dangerous scale than the spiv-up-the-road could create with a state-of-the-art photocopier.
So Gordon won't directly steal this money from us, oh no, unlike the Torygraph report. What he will do instead, to cover up his criminal behaviour, is dilute the value of everything the rest of have in our wallets, which will eventually be worse for us than just taking the £57 billion off us in tax, directly, and certainly much worse than if he cut government spending by the same amount (God forbid). And then when the ensuing inflation hits home, causing bubbles to burst and other terrible economic busts, he will then blame evil and greedy capitalists for rising prices and for causing this ensuing inflation. Who'd be a free market capitalist, trying to use the greatest economic system the human race has ever devised for making the lives of everyone exponentially better than in the past, and which has given even the most work-challenged bums a better standard of living than even the very wealthiest of medieval Kings and Queens?
Oh to be a socialist again and blind to the realities of what Gordon and his mafia mob are up to! (And I include David Cameron in this gang.) Having learned through Ludwig von Mises what they're really up to, the utter criminality and mendaciousness of it all is enough to make you weep.
And all this comes on the back of yesterday's announcement that the Bank of England is going to print up (or electronically transfer from thin air) whatever it takes to make the UK's banks "solvent", whatever the heck that means in this rapidly-approaching-Weimar-Republic-status land we live in, where central banks think that by inflating all currencies together at the same rate, so they all depreciate together in harmony, that no harm will be done. At least no harm will be done to the salaries of all the incumbents in government and in these socialist monetary planning committees. And with stupid British papers reporting idiotic stories such as "Increased Bank Credit to Ease Mortgage Worries" and "Bank to use Rates to Fight Off Recession", you can see why Gordon Brown chooses to inflate rather than to tax or cut spending.
Again, if you want to know the damage this printing press mentality causes, either emigrate to Zimbabwe, or read virtually any of Frank Shostak's amazing pieces, such as this one.
Seriously, if you have any money spare at the moment, get as much of it into gold as you can possibly afford to (or goldmines, if you need a coupon), because that precious metal is going to sky-rocket in the next few years when this Ponzi paper pyramid fountain finally explodes.
Watch out for seriously rigged CPI "inflation" figures, cooked up by various G8 governments, and we'll know it's really got bad when these criminal gangs start blaming gold-hoarders for causing the crisis, and then start confiscating their gold for nominal prices.
At this point we may have to do what the Romans did when their tax collectors came round, and bury the stuff. So now you know why these hoards keep being discovered. At this rate, future archaeologists in the year 4000 are going to amazed why gold hoards suddenly re-appeared again in the 21st century. But then again, all they'll need to do will be to re-read Mises.