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| LOVE THE RICH SOD THE POOR |
19 January 2016 - Mark Carney, Governor of the Bank of England, quite obviously simply does not understand the struggles and privations of the people who own the world. 62 billionaires might today own as much as half the world's population, 3.5 billion peasants, but will their God given position continue?
It is among these peasants that most borrowers can be found - many of whom are reckless borrowers and must be punished for their sinful, evil ways. The super rich have relied absolutely for hundreds of years on loan-sharking to wring more from the poor.
Unlike the USA's Janet Yelland, Mark Carney is blocking increases in Base Rate Rises - which in the UK alone would effortlessly gouge another £4 billion a year from poor to rich, for every 0.25% , quarter of a percent, increase. A two or three percent rise, back to "normal rates" will siphon £48 billion from sinful UK borrowers to saintly off-shore, tax-free lenders. In the USA these amounts are treble or quadruple.
In the best of times, before all this nonsense about independent central bankers, the Blessed Margaret Thatcher drove UK BASE rates up to 15.5% ! What bliss; what immense, effortless, risk free income for the world's super-cash-rich. Record UK unemployment made sure that the sweaty workers did not dare to demand wage rises. It is high time we found another Thatcher. Perhaps Yelland, whose instincts seem to be with the superior people, can be worked on. Sure - thousands of families will be made homeless and lose their pathetic assets, but that's the sort of large market force that makes speculating such fun - and so lucrative. Get rid of all that socialist crap and squeeze harder.
See you all at Davos.
********
17 SEPT 2015
Hi Rosie,
STOCK EXCHANGE COLLAPSE AFTER CHRISTMAS? - THE PRICE OF MONEY
You might ask - and I can only guess - if your Moody - Morgan
Stanley forecast of collapse assumes an interest base rate hike in December.
With (relatively poor) UK
borrowers, including most young couples and families, today owing £1.4 trillion
(to the rich) - every 0.25% increase gouges £3.7 billion from the poor to the
rich. Also, City folk love dramatic chaotic movements that they can bet on.
Steady markets are of no use to major players.
If rates go back to 5% - In the UK that’s £66.6 billion per annum, every
year, of effortless, risk free, highly inflationary (no matching productivity
and driving up every cost in the economy) extra funds flowing to The City (and a little
of it to us small savers). Ditto in America but x 5 times. It is little wonder
that the bankers' PR machines continuously pump out the trite self-serving
message "Interest Rates must return to normal" - and "straight
into our pockets".
Increasing interest to crippling levels - such as losing your home - is just the old gangster trap of loan sharking. No nation should do this. LOVEABLE LOANSHARKS
Rates haven't returned to "normal" in Japan -
or the US - or the UK. There are sound reasons to assume they never will again
- because the wealthy worldwide are flooded with cash which hunts second by
second for ultra safe havens with high returns for their (our) cash. There is $32 trillion (80 million good jobs) sitting unused in tax-havens.
However - the pressure from the super rich is very strong
and they might overcome economic common sense and achieve their hungrily
desired extra unearned incomes - bankrupting and making homeless thousands of
families. If so, if rates rise, some rich people will move money from the stock
markets into cash - reducing share prices. But - shares do represent real
business assets - and eventually prices adjust to reflect the reality. Look at
50 years of stock indices.
Is this the same Morgan Stanley that had to be bailed out with $107 billion from the US Government; who did not predict the 2008/09 meltdown; and who has 140 complicated companies to hide its (or other people's) money in offshore tax-havens?
J.P. MORGANS' 140 COMPANIES
When in doubt Do Nowt
Noel
*******
Letter to the Guardian - The media and some Bank of
England Committee members are puzzled by the, very welcome, current spate of
deflation (MPC members play down rate cut speculation - Guardian 26 March
2015). All economists know that UK inflation faithfully shadows Bank Base Rate,
lagging by 1 to 2 years (graph attached); which is the essential cause of
inflation. Unearned-Income inflation, or bad inflation, siphons risk and effort
free money from the poor to the rich, today at the rate per annum of about £3.7
billion per quarter percent (0.25%) of interest. Good inflation, wages led
inflation, rewards work and diminishes debt. The City need only increase Base
Rate to be flooded with extra effortless income, gouged from the poor; a year
later the usurers cunningly blame wages for higher inflation.
Noel Hodson, Oxford.
-----Original Message-----
From: Rosie
Sent: 15 September, 2015 9:29 PM
To: Noel Hodson
Subject: Rosie for what it is worth
A city broker told me that moody and Morgan stanley say
that the market will go up again to 6800 but after December it will go down to
5000 X
Sent from my iPhone
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