Some of my tweets from this morning, best read from the bottom up:
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Aye… reading Andrew Rawnsley usually makes me want to throw up my breakfast đ
Me too, sometimes
Bless you richard, but starmer is as corrupt as any right wing barrister, because he is one. if you are hoping for his help you will be very disappointed.
Here’s what the labour right are up to today
https://spotlight-newspaper.co.uk/politics/08/24/labour-party-launches-investigation-of-united-nations-institutions/
With respect, If youâre really that stupid you are on the wrong site
UK history now on its way to being re-run namely Churchill as Chancellor returning Britain back to the Gold Standard at the pre-war rate a decision he subsequently realised was the greatest mistake of his life. Again the Treasury pressured him into it but also the governor of the Bank of England and the Labour Party wanted it too! This time it’s not the Gold Standard but balancing the government’s books as though it was still on the Gold Standard and failing to understand trade deals have to be mutually acceptable and therefore there’s no such magic ingredient involved as British Exceptionalism (Britannia rules the waves) anymore!
https://en.wikipedia.org/wiki/Winston_Churchill_in_politics,_1900%E2%80%931939#Chancellor_of_the_Exchequer
Agreed
The level of monetary system literacy in the UK is really poor particularly amongst the politicians. I wonder for example if many understand the crucial lesson from the Labour government seeking an IMF loan in 1976. Namely that the Bretton Woods Agreement was the continuation of a form of global Gold Standard pegged currency arrangement despite the UK leaving the Gold Standard in 1931 and this ended in 1971 when the the United States abandoned it “peg to gold”:-
âThe first real sterling crisis in modern history was in November 1967 when the British government was forced to devalue the pound by around 14 per cent, within the system of fixed exchange rates.â
http://bilbo.economicoutlook.net/blog/?p=33419
Here’s Bill Mitchell’s concluding part to the Labour Party’s massive monetary system illiteracy in 1976:-
http://bilbo.economicoutlook.net/blog/?p=33907
Will they make the same mistake again under Starmer?
So…………..this is really what the end of a chapter in human history looks like then?
And at such a time, to have people of such low, low moral and social calibre to deal with it who are prepared to use any means to maintain their position. Doesn’t look good does it?
500 hundred years from now – and God knows if we will still be here – what will they make of these times? I hope that they will repulsed although I cannot guarantee this will be the case.
I really donât think currently thereâs much hope for the British at the moment for the simple reason theyâre in denial they live in a monetary system economy.
This has to be true if you think about it theyâve made no serious effort to properly understand it for over a hundred years now even though the government temporarily abandoned the Gold Standard to engage in direct government funding of the First World War through QE and banknote printing.
Even today not only are they not aware of this they don’t even realise a pegged currency system for the UK didnât end in 1931 (The UK abandoned the Gold Standard in theory in that year but not in long term practice) it continued up to 1971 when the Americans abandoned it (The UK foolishly subscribed to the Bretton Woods Agreement which was the continuation of pegging sterling to the Americanâs Gold Standard).
Even after 1971 the penny hadnât dropped with the Labour government they hadnât realized the UK now had a floating currency which gave them increased fiscal space to optimise employment levels. Instead they took out a loan with the IMF in 1976.
Unbelievably despite all these lessons both Conservative and Labour parties still believe in balancing the governmentâs books over a set period. All of this surely means the British should be classified or labelled âThe Lost Tribeâ a tribe that doesnât know how to properly operate a monetary system or a democracy for that matter with its FPTP limitation of ideas. We fool ourselves to believe otherwise. This means great change has to happen to stop the economy continuing its decay!
I think weâre only now seeing slight awareness that we live in a fiat currency world
Which is both crass and staggering
I agree but reserve the fact that the lies reside at the very top of our society – even in our so-called legendary places of learning like our top Universities.
Then – amplified by the media and now the internet – they inculcate most of the rest of society with their bullshit.
We must not lose hope in our people – the millions who are lied to day after day about BREXIT and how the Government can run out of money for example.
We must be patient out here with our neighbours and reserve our aggression and contempt for those in the Establishment who basically tell the lies that mislead us and create harm. And we must of course at every opportunity highlight their mendacity all of the time.