Feb 01

Apparently the latest Bank fraud practised by RBS and Lloyds the Govt run banks owned in our name to get hold of assets inflated by QE and ZIRP is the Enterprise Funding Guarantee scheme. You can read the specifics in The Times but essentially more subsidy to banks to impoverish and kill SMEs (small medium enterprises).

Now people will say that Govt’s hand in these banks is not policy but my only point would be if it is not policy to destroy small businessmen could they come up with policies to better ensure it? To cement large corporations and banks control over assets and people’s lives? If they tried could they do any better this side of a police state?

I do wonder if even the banks know how an economy can work with inflated land prices, zombie businesses, zero investment and no production? What is a cash mountain worth when no one can earn to pay for goods? At that point work houses and concentrated work camps for immigrants the only way to go?

written by reaction \\ tags: , , , , ,