Thursday, July 12, 2012

Can MPs really contemplate months of hols with Pay Day loans at 1737%

A week ago today, the Monetary Policy Committee of the Bank of England, to which MPs have devolved what little power remains in the country from that abnegated to the EU, decided to create yet more billions of pounds from thin air to hand to the largest banks in the land at zero cost.

Last evening, watching a TV programme on the underground railway called Crossrail, from the expiring and choked dinosaur that is Heathrow Airport to the soon to be the greed and EU and FTT destroyed wasteland that will become London's supposed new financial centre at Canary Wharf, we were frequently bombarded by childlike adverts, amongst others, to take out a pay day loan at an advertised APR of 1737%. Yes that rate is correct, I did not miss a decimal somewhere in the middle, I checked online this morning see here.

So Mandarins, Ministers and MPs should maybe think twice before taking off on their weeks of holidays. While many MPs are innumerate there can be no excuse to plead ignorance that when creating money for nothing to give as a free gift to the banks who will then charge desperate consumers, (unable to feed, clothe or shelter themselves between paydays, because of the currency devaluation, inflation and general misery brought about by the policies of successive governments,) at interest rates of 1737% APR, YOUR fellow citizens, MPs' voters and YOUR constituents are being right royally screwed. YOU will bear the blame, were I you I would refuse to quit Westminster while this outrage continues.

If MPs do depart and leaveve the growing crisis to care for itself, then I suggest they take time to run their hands round the neck of those tight collarless summer T shirts we all seem to don at this time if year - tight and uncomfortable are they not, worse still were they hemp, which surely must be what they are now quickly approaching deserving.

Here is a reminder of last week's QE announcement from Mervyn King, wasting anothe £50 Billion to now make a total £375 Billion imaginary digitally created cash, solely existing to defer the day these crooks are all brought to account! At least in the intervening six days we have identified another culprit, namely tennis loving fat-cat Sir Mervyn's side-kick, Paul Tucker!

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