Over the last few days I have been thinking about and reading in the papers about the latest 70 billion Quantitative Easing (printing of money) which has been decided by Mervyn King.
This amounts to over £1000 for every person in Britain. It is not extra money he has given us, it is a debt he has saddled us with. Most affected are those with private pension schemes which have seen their pensions fall by as much as thirty percent.
In effect their pensions have been stolen.
I accept something drastic has to be done to save our country and provide jobs and if some sacrifices MUST be made we will all have to accept them.
BUT it is the way the money will be introduced which I can not understand.
It will be all channelled through ,you guessed it the bankers who caused much of the problem in the past.
Why could this "new money" not be used to improve our infrastructure or lent directly by the government to small firms at low interest? We would then get some return on this "investment" and our sacrifices, increase employment and in the end get a return on that money.
Then perhaps it would be worth it but it seems this new money created out of thin air will just boost the bank's balance sheets and the bosses bonuses.
I accept I am not an economist but the results of our country being ruled at the whim of these "experts" have been little short of disasterous.
So I ask the question. Why can the money not be put directly into the economy, businesses and infrastructure etc?
Why do the banks need to be involved at all?
Perhaps there are government forces controlling us, our economy and prospects behind the scenes which act in their interests and not in the national interest. It seems so.
Can anybody who knows how the finance world works please enlighten me? because I can see no logic in the way they are conducting our economy and our country?
I do not understand it. Does anybody?
If you do please tell me.
