An Update – Austerity – An unnecessary Hardship Imposed on Scotland By Westminster’s Nefarious Spivs

 

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2003: International Monetary Fund Call for Chancellor Brown Not to abandon “Prudence” Policies

Gordon Brown was warned by the International Monetary Fund that his borrowing and spending gamble on public services may be going to waste.

In a damaging blow to his recently announced Chancellor’s tax-and-spend strategy,  the IMF said he was being too confident that a rebound in tax revenues will allow him to steer the nation’s finances back into the black.

Mr Brown also unveiled plans last week to borrow an extra £34 billion over five years to keep his spending plans intact.

But the IMF called on him to make early cuts in his plans to put the nation’s finances on a surer footing. It said that the sharp increases in spending on the NHS and teaching carried the “risk of inefficiencies.”

Brown ignored the warning and forged ahead believing he knew better.

The Health Service did indeed gain the benefit of loadsamoney but this was  not properly invested due to the poor negotiating skills of the Health Secretary, John Reid who squandered the bulk of the new money through massive salary increases (while largely maintaining existing terms and conditions of service) in medical staff and other management fields.

New Labour, under Brown’s financial stewardship appeared to be atop the “crest of the financial wave.”

Brown’s strategy needed the economy and tax receipts to remain buoyant,  they didn’t and borrowing increased further between 2003-2007 placing the UK economy at greater risk of a financial downturn for which the country’s finances were ill prepared.

 

 

 

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Austerity-An unnecessary Hardship Imposed on Scotland By Westminster nefarious Spivs

In 2008, Northern Rock, RBS, HBOS and other UK banking institutions seemed destined to fail, largely due to criminal behavior.

80% of losses were attributed to their London and foreign based businesses.

The Westminster government intervened and bailed out the banks.

But in doing so Alistair Darling and Gordon Brown lumbered Scots with repayment of massive debt, added to with extortionate interest charges.

The UK government’s bail out had also lead to the reclassification of  banks as  “public sector assets.”

In consequence public sector liabilities increased from 126% of GDP to 335% of GDP  between 2007 and 2009.  Over 200% !!!!!!!!!!

 

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The UK National Debt

The UK national debt is the total quantity of money borrowed by the Government of the United Kingdom through the issue of securities by the British Treasury and other government agencies.

At the beginning of 2018 UK debt amounted to £1.78 trillion, or 86.58% of total GDP, at which time the annual cost of servicing (paying the interest) amounted to around £48 billion (roughly 4% of GDP or 8% of UK government tax income).

Approximately a third of this debt is owned by the British government due to the Bank of England’s quantitative easing programme.

The debt equates to approximately £40,000 per employed person.

The knock on effect is that each household in Britain pays an average of around £2,000 per year in taxes to just to finance the interest payments.

At the start of 2018  an assessment of the UK’s assets and liabilities indicated that the UK public finances to be among the weakest in the world. Just behind Gambia, Uganda and Kenya.

It was also revealed that around £1 trillion had been wiped off the wealth of the UK’s public sector since the financial crisis, putting it in the second weakest position of the 31 nations assessed. Only Portugal’s public finances were in a worse state.

National debt increased significantly (2010-2015) under the Tory/LibDem coalition government .

The present Tory government has not reversed the trend.  The national debt increased (by £46 billion in 2017) and the chancellor gave up the ghost of forecasting a time when structural debt would be eliminated.

Scots might be lumbered with it forever or until independence is gained

 

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Quantitative Easing (QE)

The start point was with the Bank of England Governor who, (acting on instructions from the Chancellor Alistair Darling),  by sleight of hand created £435bn digital new money.

This, “funny money” finance was then used by the bank to compulsory purchase bonds from controlled resources within the UK.

The real money gilts purchased were then used to bail out the banking sector preventing the failure of the banking sector.

Pension funds were subject to the asset stripping and they want their money back!!!!. but their is no indication of this from the government.

 

 

 

 

Drawbacks of Quantative Easing (QE)

The practice was first implemented, in 2008, in an attempt by the Bank of England to  buy time so that new financial strategies could be put in place.

But the crisis was created through the public taking up offers of low interest payments and easy credit and excessive borrowing for mortgages.

Nothing much has changed in the banking sector since 2008 and in consequence the practice of QE  may need to be retained which brings negative consequences for Scots.

The UK economy is headed for another financial crisis.

 

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What about criminality? 

The banking system including, hedge fund investors, staff and management were not subjected to any formal police or public enquiry with result that it continued operating almost completely unaffected.

No UK banker ever faced criminal behaviour charges.

Bonus schemes were retained and in many cases expanded and London’s financial hub has enjoyed many years of good living at the expense of the Scottish taxpayer.

Adding insult to injury not long after the financial crisis, the UK loaned Ireland £20 billion, (at a knock-down rate of interest) proving that bailing out banks–like reinsurance–is a risk which is global in nature and shared between countries.

In a statement, seeking understanding of his decision to, “prop up” the Irish economy George Osborne, UK Chancellor said, “Ireland is our very closest economic neighbour and we must assist.”

 

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In the aftermath of the crisis, Bank of England officials claimed the UK Chancellor had botched the banking bailout and the Bank would never be able to recover all of the loans let alone match the performance of the US Federal Reserve which reported a $billions profit (out of the crisis). No austerity for the American public.

Sir Mervyn King, Governor of the Bank of England, said: “The sad truth is, in 2008, the idea of focusing efforts on recapitalizing the banking system was a UK idea. We got there first but, like many UK ideas, the Americans developed it much faster and much better.”

The US forced all major banks to take Federal Reserve money, purchasing substantial stakes at around “half their book value.”

The Bank of England, directed by Brown and Darling, acting against the bank governor’s advice, purchased similar financial stakes, but at “full book value.”

A Treasury source later said: “The Government judged that without a taxpayer injection the banks would have collapsed, with consequences for financial stability and people’s money, and it judged that was an unacceptable risk to take.”

 

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But the Westminster government had bailed out banks with global operations and the former chairman of RBS, Sir Philip Hampton,(retd) in November 2012, in his evidence to the House of Lords reminded was very clear that bankers:

Had used many countries central banks as lenders of last resort for many operations in jurisdictions in which they operate.

This is a key part of what central banks do in the jurisdictions that they control.

Just because there might be an independent Scottish Government did not mean that all lender of last resort facilities would disappear. They would be continued.

This also works when a country has a banking and a fiscal union, as in the UK.

The Bank of England would provide “bank of last resort” support to Scotland, if needed.

But should difficulties arise with the foregoing arrangements the final fall-back position (assuming Scotland retained membership of the EU) would be for Scotland to seek assistance from their EU partners.

Requests simply require a majority vote in favour, but the decision is binding on all EU members.

Provision of financial support would not be breaking new ground since this is exactly what happened when Ireland, Spain, Portugal and Greece were extended “bank of last resort” backing from the EU and the Bank of England donated its £20 billion share.

In the last “face to face” with Alex Salmond, in the 2014 Independence Referendum campaign, Alistair Darling, accepted Scotland had every right to use sterling and this would not need the authority of the Bank of England.

The mendacious “mantra of fear” propaganda of “Better Together” that the Bank of England, would not provide a “lender of last resort” facility to Scotland was scurrilous myth.

 

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Gordon Brown Duped His Mugs-R- US Party and Conned Scots For Years – Ignore His Unimpressive Rhetoric

 

 

 

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Gordon Brown Duped His Mugs-R- US Party and Conned Scots For Years

Scots would be well advised to remember the 2014 Independence Referendum and Brown’s heavily promoted (by the BBC, who also provided him a prime time 2 hour slot) address to a group of pensioners just before their weekly bingo session during which he took the level of Better Together’s negativity and scaremongering to a new level.

Repetitive and lacking in credibility he trotted out unsubstantiated scare story’s, previously voiced by Ruth Davidson, about pensions.

It was surprising that Brown chose to speak about pensions, given his appalling record first as Chancellor then as Prime Minister.

Setting the record straight, it was the 1979 Tory Government that systematically reduced the long term value of the state pension by abolishing the link between the state pension and earnings.

New Labour had the chance to reverse the punitive strike against the poorest pensioners in Europe. But failed to do so.

Instead, rubbing salt to the wounds Brown introduced the notorious “pension stealth tax” further reducing the value of pensioners retirement funds by at least £100 billion.

Mocking the electorate in 2000, he then had the temerity to announce that “New Labour” would be be assisting the “poorest” pensioners increasing the state pension by a massive 75p (before tax).

Scots should ignore lying economists. In an independent Scotland pensions will be paid in full and on time, just as they are now.

Scotland is also much better placed to afford pension plan costs than the UK as a whole.

This is evidenced by the fact that expenditure on social protection, which includes pensions, was lower in Scotland than the UK over the last decade.

In all 42% of Scottish tax revenues are spent on social protection in comparison with 43% for the UK.  And 1% is a whole lot of money.

 

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BBC Biased Against Scots!!! – Prove It!! – OK!! – Check This Out!!!

 

 

 

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BBC news & current affairs presenters biased against Scottish Independence

Videos were released on YouTube casting significant doubt on the willingness and ability of the BBC to cover Scottish independence campaigners in an impartial manner.
The leaked videos featured in-house presentations by four senior BBC presenters giving explanatory background briefings to an audience of junior BBC staff.

The presenters, including BBC Scotland’s political editor Brian Taylor, are shown attacking the SNP’s proposed referendum question while claiming that Alex Salmond is ‘not impregnable’. He is also accused of wanting a devo-max option on the ballot paper in order ensure a parachute is in place should Scots fail to back independence.

In the presentations, Scotland is mockingly described as being in financial deficit and requiring subsidy.

Taylor is claims that Alex Salmond wishes to delay a referendum in order to ‘sow dissent’ among Unionist parties, stating:

“Salmond wants a contest as close as possible to the next UK general election because he believes that by then his Unionist opponents will be fighting each other rather than fighting independence and Alex Salmond. He wants to sow dissent among them”.

Taylor further claimed that the Scottish government’s proposed referendum question was not straightforward and simple suggesting that it was designed to elicit a positive response. On the proposed question: “Do you agree that Scotland should be an independent country?”

Taylor said: “Straight forward, simple – except it’s not. The word ‘agree’ according to psephologists is a welcoming word, it draws people in. People like to agree, they don’t like to disagree so the word there is good. Adding:”Why does Alex Salmond favour a second question, devo max, and devo plus, why not just go for independence, which is the one he has the mandate for? Because he wants a fall-back, he wants a parachute should independence fail to win”.

Also featured on the videos is BBC TV political commentator, Andrew Neil, a former editor of The Scotsman and the Sunday Times, BBC TV’s UK political editor, Nick Robinson, and BBC TV’s economics editor. (The Drum) (https://www.youtube.com/watch?v=IepO9cnIk-w)

 

 

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Scots have their say on the video

Proof of institutionalized BBC bias against Scottish Independence. The BBC purport to be even handed this. This proves otherwise.

I find this to be genuinely disturbing. Any doubters that the staff of the BBC are past-masters in deception and double-speak watch this video and learn!

The sole message of the seminar is: “Scottish nationalists are the enemies of the BBC. This is how we will misrepresent them.”

I am delighted that this is being picked up by the wider media community, having found this and other material including the Andrew Neil briefing while searching for BBC footage on other issues.

I was struck by the impression that this event was nothing short of a Ministry of Propaganda meeting to discuss State TV strategy. Taylor is fully dependent on maintaining the union.

Neil. An exiled Scot with very few ties to Scotland. He supports the union so that he can keep pretending London is the same country as Scotland. The current arrangement works for him and he will fight tooth and nail to retain it.

The usual BBC propaganda and Scots sellouts trying to save their high salary, low effort jobs.

Interesting that most of the facts here are positive for an Independent Scotland, the economy for example. Almost like ok guys how do we make all this stuff look bad. Also the UK can’t exist with the Kingdom of Scotland. Wales and Ireland (Northern) didn’t join the UK they where already part of the Kingdom of England.

Where is the part where they tell the audience of journalists from the BBC how to be impartial when dealing with the facts? I must have missed that bit. Can you imagine some of the other meetings which take place well behind closed doors?

The “How to Stop the Scots” seminar.

The BBC shows its true red white and blue colours and its inablity to provide the impartial reporting its own charter declares is its foundation principle. Basically when it comes to anything anti Westminster establishment the BBC are full of bile.

At 30:00 a really key admission. For UK it’s a ‘deficit’ (which nearly all countries big and small are dealing with), however.. For Scotland it’s a ‘subsidy’ (which we generously receive from London- even though the English are sick of paying it). Ladies and gentlemen of the BBC, there’s yer bias.

Who attended this presentation? Are we now to assume that all BBC presenters, producers & editorial staff will follow the lead of Brian Taylor & Andrew Neil?

Andrew Neil has been Westminster based since the 80’s, he probably won’t even be eligible to vote (assuming he doesn’t have a rarely used Scottish residence). Remember, we pay for this ex Rupert Murdoch mouthpiece and his oversized friend.

Hey if Scotland isn’t a successor state to the UK we don’t have to inherit their debt. Yay for us.

They closed down comments contributions to conceal the real tenor of public opinion. Perhaps the upcoming vote is going to be jiggered with fake votes. In Quebec in 1995, the unconstitutional and illegal referendum was NOT about “secession” or “independence.” It was an attempt to blackmail Canadians into accepting the EU system for ALL of Canada, as the basis of North American Union. Some quarter million FAKE citizenship ID’s were created in the half-decade prior: 217,000+ people ALL now UNTRACEABLE.

My response to this… I’m not paying your license tax for this pravda bias!  Stick your BBC up your backside! As for Andrew Neil…

I’m not sure whether to like this, ’cause it proves how biased the BBC is, or dislike it, because of the content.

Taylor gets paid too much by the BBC and he spends his wages on steaks and chips. What a waste of our TV license fee!

BBC Scotland’s online department are coming under increasing pressure, (without response) to explain their decision to suspend comments from political blogs.

Alone among BBC broadcast regions, the blogs of veteran editor Brian Taylor and Douglas Fraser have been closed down to comments from the general public for months.

The Union of the UK is between two countries Scotland and England. Scotland leaving ends that UK and it creates two new states. If Scotland has to re-apply to the EU then so must England/rUK. Shenegen and the Euro are not preconditions of membership.

 

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