Saturday, August 17, 2013

The Financial Collapse of The West ~ The Debt Time Bomb

The debt time bomb that is Britain. Britain, as other western countries, need to Nationalize the Bank of England and all the private banks, close down the gilts market and let the government issue its own money and credit. Money should be the servant not the master of mankind. Fractional reserve lending is a fraudulent banking system as is paying interest on the creation of money.

An apocalyptic documentary regarding the sorry state of the British Economy and it's colossal debt mountain. Warning: Unpleasant content.

If MoneyWeek are to be believed, Britain's love affair with borrowing has put us on a collision course with complete economic, social and political collapse. Osborne cannot save us now. £10 trillion in public funds - MoneyWeek calculations based on historical welfare spend
UK Total Debt as a percentage of GDP - Debt and deleveraging: Uneven progress on the path to growth, McKinsey Global Institute, 2 January 2012
500,000 pensioners in 1909 -- BBC article: The state pension turns 100, 31 July 2008 Average life expectancy - World Bank data, 31 October 2012
An estimated £5 trillion government debt -- IEA article: True level of UK government debt exceeds £5 trillion, 12 November 2012
£120 billion net borrowing -- Office for National Statistics: Public Sector Finances August 2012, 21 September 2012
MP Douglas Carswell quote -- The End of Politics and The Birth of iDemocracy
James Callaghan quote -- British Political Speech, Blackpool 1976, 28 September 1976
America, Japanese and Weimar Republic total debt -- Global Financial Data, Bridgewater's An In-Depth Look at Deleveragings report, February 2012
Salaries and pensions slashed up to 40% - The Guardian: Greece is ripe for radical change, 8 November 2012
Euro zone discussed capital controls -- Reuters, 12 June 2012