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THE STUDIO CLUB

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UK Column

Posted on 8 August, 2011 at 14:22
The lie is that we, as a Nation, are bankrupt and therefore we must suffer massive public sector spending cuts to our military and public services in order to help balance the books. The lie is simple, but it is still a lie. Britain is not bankrupt. The International Banks are bankrupt and have hung their £6 trillion of debt around the neck of the British Nation.
 
When a company or sole trader becomes insolvent, receivers are called in to manage the companies affairs, to try and salvage the company as a going concern, and in the worst case, to pay off those who are owed money by the insolvent company. Having placed a company in Receivership, the existing company Directors are hardly the best people to leave controlling the company. A priority will be to remove the company Directors from their posts, or to monitor them in their execution of the receivers instructions.
 
Yet none of this has happened with the International Banks. Having passed through insolvency and into bankruptcy, the Banks have not only been allowed to continue to trade, their debts have been covered from the public purse. This would appear to be madness, but is in fact, much more serious. The failure of the banks is being used as the excuse to strip the UK of effective Armed Forces and a credible defence of the Nation State.
 
We do not need defence cuts, we should simply throw away the worst banks, write off the debts - vast as they are - and leave the bankers to suffer their well deserved bankruptcy. The Government should then print and issue its own money (charging a modest and necessary interest) to fund the Nation’s defence. The same should be done for funding of all other necessary public services and infrastructure. Aside from removing excessive bank interest, better known as usary, from the backs of the population, the government will then be able to more easily and effectively manage inflation, by direct control over the issue of currency, and the growth of the money supply.

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