Our £4.8 TRILLION debt.

I watched the hour and a half programme, mentioned in the blog below, and have to admit, if I weren’t a pensioner, or if I had brought children into this world, I would have been a lot more horrified and frightened than I am.

On reflection, a lot of people deserve this. I am not referring to voters of any one party as such. I am referring to people who do not take an interest in politics and vote the way their parents voted or their parents before them. These people are really to blame even more than the politicians for the disastrous state the country is now in. My message here is, if you don’t take an interest in politics, you should first blame yourself before you blame others.

The state the country is in is so terrible that it will probably take a dozen generations to repay all the money. 28% of Communist China is the State, 53% of the UK is the State. Bearing in mind that Britain is becoming as oppressive as East Germany was and that, in percentage terms, the State in the UK is twice the size of the State in China, it is no wonder that we are so poor and debt ridden.

The banks cannot be blamed for this.

Yes, the banks cost us dearly, but set against 4.8 trillion pounds, their debt as a drop in the ocean compared with our National Debt. The bank rate is 0.5% per annum, just at this terribly low bank rate, the annual interest on £4.8T is £24 Billion pounds a year, or two billion a month, and that is without repaying any of the capital.

Finally, everybody’s savings are being devalued every day the Bank of England indulge in Quantitative Easing.  QE is just another way of printing more money that we have assets for. This means your pound devalues.

Let’s look at it in simple terms. A small island with fifty people have their own currency. The island has assets worth a million pounds, so the government print out a million pounds of notes and coinage. Then the government decides on Quantitative Easing and prints a further million pounds of notes with no assets to back the currency up with. Where as a note worth £1 was worth £1 we now have a situation that there are £2 million of currency around but only one million pounds worth of assets. So your £1 note in your pocket can only be worth 50p.

So you have been robbed of 50p for every pound you own. The Government has cheated on you and stolen your savings.

It really is as simple as that.


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