Banks and Bombs
George Osborne has handed over control of financial regulation to the bank of England because the tripartite system put in place by labour ‘failed spectacularly’.
If my history serves me right it was The Bank of England who helped William Pitt the Younger kick start income tax to fund wars we didn’t need and it’s The Bank of England who profit from the interest (albeit quite a small one at the moment) on the country’s debt. It’s the Bank of England that own the IOU’s for all the quantitive easing cash that was created from thin air.
To hand control of our financial regulation to The Bank of England is to get rid of regulation all together. How many people are capable of self regulating? The same is true of business.
The move is akin to watching a playground full of children running riot at the hands of underfunded and understaffed dinner ladies and declaring, “you know what, this isn’t working, let’s leave this kid who’s building the water bombs in charge…”
Mervin king builds and supplies water bombs. He cannot be trusted to regulate them.
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