Thursday, October 16, 2008

Brown and Bretton Woods

Well, well, well, the talk at the EU is of a new Bretton Woods, type "Bretton Woods" in the Search facility at the top of this blog and you will be able to read what I suggested on that topic last August - all too late now I am afraid. Read a report here. Gordon Brown who befouls and besmirches everything with which he comes into contact is presently being hailed as the architect of a 'brilliant' global banking rescue plan - the markets last evening and today are already correctly deciding that Brown's plan is no such thing. As this blog pointed out over the past several days, in the UK the plan by the duo of Scottish schemers involved nothing more sophisticated than a huge transfer of English taxpayer funds across the border to prop up two failed Scottish institutions (with an added pinch of confusion involving Lloyds to allow the BBC and other tame media to misreport the operation). Why the rest of the world wishes to throw their own billions at the failed banks beggars belief. As I posted yesterday at least in Australia the money is being targeted where it might be of some help and also have some positive effect. On the BBC Radio 4 Today programme this morning one of the lame-brained presenters , incapable of rational or logical reasoning after years of propagating New Labour's lies and spin, was trying to get his sorry apology for a brain around the reason why governments having thrown billions at the banks the latter still would not lend to one another at reasonable rates, the reason of course is clear - the bankers, being more savvy than politicians, are fully aware that such money does not exist, it is entirely a figment of Brown and other leaders imaginations, albeit lying within their power to make their fantasies seem real by the use of printing presses. If you did not already visit my post of last August on restoring real value to money "Needed - a new Bretton Woods" you can do so by clicking here, its accompanying post "How Heath betrayed Britain and Nixon the USA in 1971" of two days before is here. This section where I suggested an end October deadline for the process seems particularly IRONIC today, so I quote it here: "Either or both Presidential candidates could endorse the consensus concept of this Economic Conclave, which should be compulsorily achieved by an end October deadline. Congress would then have the utmost legitimacy for implementation early next year."

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