The creation of new money (”Quantitive Easing”) by the Bank of England following the 2008 financial crisis has had the effect of massively redistributing Britain’s wealth into the hands of the already rich. The UK’s richest 10% have increased their wealth by 46% since the crisis.
For every £1 of the £375 billion created – (the equivalent of £6000 for every man, woman and child in the UK) – just 8p has ”trickled down” to the real economy. The rest has been gobbled up by inflated financial asset markets and the (London-centric) house-price bubble.
(video by Positive Money)
Privately owned Banks create money as debt out of nothing and then charge interest on it. The job of their placemen and accomplices in government, mainstream political parties, and crucially the media they control, is to ensure that this fraud goes unnoticed or is misunderstood by a distracted and ill-informed population, who will then acquiesce to being enslaved in debt and ‘austerity’…
But there is nothing to prevent any sovereign nation from issuing its own debt-free, interest-free money through its Treasury, based on the wealth, integrity and potential of that nation (in other words its credit) in order to meet the needs and guarantee the security of its people.
BRING BACK THE BRADBURY ! : https://mpbondblog.wordpress.com/2014/02/11/bring-back-the-Bradbury/
The rich have made a killing from Q.E.
Next time it should be injected directly into the real economy instead of the banks.
‘Trickle Down’ economics, explained in detail.