On a high turnout (thanks to everybody who took part), last week's Fun Online Poll results were as follows:
Is the Bank of England owned and controlled by the UK Government?
No - 51%
Yes - 42%
Other, please specify - 7%
It's a conspiracy, maaaan! Some of the comments were things like "It's run with startling efficiency by and for a strata of self-serving, cretinous, ####wits", and I agree that the BoE is run largely for the benefit of the banks; but let's not forget that the UK government itself is in thrall to the bankers, which is why UK politicians are desperate to pursue Home-Owner-Ist policies, i.e. keeping house prices as high as possible, which enables banks to lend three times as much money on the same tired old houses, and thus make three times as much profit.
But, for the benefit of the nay-sayers, the Bank Of England is in fact part and parcel of the UK government (if you look at the legal position and the fact that the BoE dutifully pays any profits it makes to HM Treasury and so on); they are one and the same thing - the fact that the whole system is geared up to pandering to the Home-Owner-Ist alliance and not the interests of the wider population suggests to me that one is in control of the other.
And it's not some 'shadowy élite' we are talking about: the Home-Owner-Ist élite do this quite openly - paying themselves billions of pounds a year in bonuses without shame; MPs gaily flipping their 'second homes' for a nice tax-free profits; ex-Prime Ministers merrily accepting £500,000 a year jobs with merchant banks; whole countries (like Ireland) being held to ransom in order to repay wealthy international bond holders etc etc. We know exactly who they are.
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Just for a bit of light relief, this week's Fun Online Poll is "Which is your favourite supermarket?"
Vote here or use the widget in the sidebar. You can vote for more than one if you want. If you wondering why I chose those ten (and not Lidl, Netto, Budgens) is because I chose the top ten supermarkets by market share according to this source.
Male Talkers
3 hours ago
9 comments:
And it's not some 'shadowy élite' we are talking about:
Yes it is. It is directly linked to the BIS and the heirs of Tavistock.
It also happens to be Homeownerist, which is your concern, Mark.
JH, Home-Owner-Ism is just one facet of what bankers get up to. Bankrupting countries and then charging huge fees to bail them out is another one, as it starting wars etc. They're not evil as such, just incredibly greedy. If they could make bigger bonuses by promoting world peace, then they'd do it.
PS, who or what are THOT?
Oooh, a shadowy elite I haven't heard of! And which furthermore, the Internet doesn't seem to know about. Could it be the real thing this time? Come on, JH, spill the beans. A concerned public needs to know.
Ugh, it's annoying how ignorant some people can be. As you say, it's a simple fact that the BoE is government owned and controlled. The result of the poll should have been 100% Yes. The fact that it was anything else speaks poorly for the readers of this blog.
RA, in defence of reader's of this blog, I mentioned the poll over at HousePriceCrash.co.uk, which may have skewed things somewhat.
The city and "bankers" have very little sensitivity to the BoE and its policies.
Do you really think someone trading EUR/USD cares what policy the BoE takes?
Mervyn King isn't smart enough to be part of any conspiracy.
BR, the people who do these lightning trades on EUR/USD are, by and large, not 'bankers' for the purposes of this discussion. And no, they don't care, they'll bet either way.
As a separate issue, MK is perfectly smart enough to pump out propaganda for the HO elite and make it sound plausible, i.e. why interest rates should be kept low, why banks should be bailed out, that QE will somehow benefit the wider economy, and he is paid handsomely for his efforts.
Challenge! MK actually believes what he says. What he should be pulled up for is his moralizing nonsense, for grandstanding and not acting quickly enough.
Bailing out the banks helped anyone that gets paid by a company with a current account, or any savings.
QE runs the risk of higher inflation, better than deflation.
BR, I doubt whether even you believe a single word of what you just said (I dom't think you are that stupid), so I'll ignore it, if you don't mind.
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