wales export summit

Export warfare truce

Why Wales needs to export LESS, not more

The drive to export more and more

In the material world – the real world – exporting goods and services represents a material loss to a nation.  We produce real tangible goods like food or manufactured goods and then send them away for others to enjoy. Their material gain, our material loss. The importing nation is materially richer while the exporting nation is materially poorer.

So why do all political parties, mainstream media, and “economic experts” insist that we should focus on increasing our exports to strengthen the economy? If not the real economy of lives and stuff, what economy are they talking about? Why does everyone champion the material impoverishment of their own nation?

The reason our “economic experts” encourage increasing exports as a vital economic strategy is because all nations are stuck in an acute state of insolvency. We are insolvent because we have collectively fallen prey to a debt-based monetary system created and foisted upon us by financial parasites – also known as the banking sector. The same banking sector that funds the universities that produce the “economic experts” that advise governments.

The advantage to indebted nations of increasing exports and swinging the balance of trade in its favour, is that the influx of external currencies helps it keep up with the extractive interest payments levied on virtually our entire money supply.

Export Warfare

On a macro-economic level we are all working harder and harder for less and less to keep up to the increasing burden of this financial sector levy. This is the underlying impetus for export warfare being waged around the world. It’s the reason neoliberal economists and their trained parrots, mainstream media and politicians, underline the importance of exporting.

This call to export more and import less is echoed around the world, resulting in fierce competition in a global race to the bottom. Whoever can exploit their nation more by paying their workers less and pillaging their environment “wins”. We get richer by making ourselves poorer. Such is the logic of modern debt-strapped economies.

It is a war only idiots would want to fight, but a very popular war nevertheless.

There can only be losers in this war

One nation’s favourable balance of trade can only come about through another nation’s loss. For every national economy that exports more than it imports, there must be other economies that import more than they export.

Like a game of musical chairs, there can only be winners because there are losers. The importing losers get more stuff, but suffer a shrinking economy due to an outflow of money to the exporting nation. The exporting winners have less stuff to consume but have more money to keep debt foreclosure at bay.

However, given the unrelenting nature of compound interest levied on the entire global money supply, the future for all nations looks bleak.

Nations with an unfavourable balance of trade fall into increased debt-servitude along with growing impoverishment and privatisation of natural resources. (Greece and Latvia come to mind.)

Further down the road, even nations with a favourable trade balance will no longer be able to keep up to the cancerous exponential growth of compound interest and will suffer the same fate as their rivals – debt-serfdom in a neo-feudal financial order. The 2nd Dark Age will be here.

There are no long-term winners in Export Warfare. No one, in the end, will be left standing.

How to quit the war and live in prosperous peace

Export warfare, the race to the bottom, environmental destruction, and impoverishment of our lives is all driven by a dysfunctional monetary system based on debt. It has been created by the 1% for the 1% – to the detriment of the rest of us.

This explains why we are driven to engage in cut-throat export wars. Simply put, we keep our boat floating by sinking others.

What kind of world is that? An insane one. Isn’t it time we said enough is enough?

Saying ‘enough is enough’ is simply replacing our privatised debt-based money with social credit (national debt-free money). More about this here: Independent Wales = Prosperous Wales

Any nation, such as Wales, that decides to return to sound monetary policies (based on social credit not private debt) would be free from the need to engage in export warfare with other nations.

We would be then be free to trade with whom we pleased, not forced to trade just to stay afloat.  Real free trade – not the sham version forced on us these days- would of course continue. We would still want to import cocoa, coffee, and other goods we cannot produce here, and export goods that others want. But it would be free in the sense that it would suit our personal desires and needs, rather than be driven by debt-leveraged corporations and ‘trade missions’. Economies of scale, single markets, trading blocks, etc. would all become largely irrelevant.

Our local Welsh economy, created and sustained by our own labour, could once again become the cake. Export trade would become the dispensable icing. A social credit-based economy would allow just that – and ensure a secure future for our children, and our children’s children.

The alternative, to continue on with our drive for exports complete with trade missions and summits, is to allow our children to be sold into debt-slavery. (Given rising student loans, the high cost of housing, stagnant wages and reduced prospects, it could be said that this has already happened.)

 

 

welsh passport stamp

Only an independent Wales can be prosperous

An independent prosperous Wales

When asked about independence the majority of Welsh people will reply something to the effect that it would be nice but not practical from an economic perspective.

The belief persists that an independent Wales is simply not affordable and we remain dependent on the generosity of the UK state.

But what if the opposite were true? Fact is, the opposite is true.

This following article will explain:

  1. why Wales remains a poorer nation in the UK;
    2. why the world in general has been in a state of economic decline over the past few decades;
    3. how an independent Wales could catapult itself into being the most prosperous country in the world.

Why Wales is the poor man of the UK

Despite gaining some powers through the devolution settlement in 1997, many of the powers needed to transform and invigorate the Welsh economy remain in Westminster and Brussels. We are still shackled to a single currency controlled by the Bank of England with its disastrous monetary policies.

The powers of the Welsh government are similar to a county council but with a wider remit and larger budget. It presides over an allowance of around 15 billion pounds allocated by Westminster each year.

However, we continue to be drained of financial and natural capital by contracts awarded to firms outside of Wales. Public transport and renewable energy exploitation are just two examples of this continuous drain.

Like county councils, the Welsh government is prohibited from stemming this outflow by EU and UK laws, such as the misnamed ‘best-value’ procurement regulations. They require contracts to be awarded to foreign firms that can under-bid local companies due to their scale and ability to leverage debt.

Hence, every year countless sums of money are sucked out of the Welsh economy. They show up as profits for big business and shareholders in London, Frankfurt, and other financial centers around the world.

The result is a booming southeast England while the rest of Britain has to tighten its belt.

The problem is systemic and can only be changed when the Welsh people have the power to alter how the system works. Yet our power as a democratic nation to make laws and improve the nature of the economy are extremely restricted, indeed almost non-existent.

Wales needs a system where taxes are collected and spent in Wales through a combination of nationalisation and awarding of contracts to Welsh companies. By keeping the money flow within the nation the economy is strengthened, not weakened and drained as it is today.

In essence, Wales needs the same powers and privileges that England currently enjoys with its seat of political power in London. Until that happens, Wales will remain a ‘poor man’ of the UK.

Why the world is in economic decline.

BBC produced a report a few months ago highlighting predictions by ‘economic experts’ that the next generation would have reduced prospects and suffer a lower standard of living than the previous generation. What was most astounding about this report was that there was no analysis of why we were collectively becoming poorer or what could be done about it. It was all presented under the false narrative of TINA – there is no alternative.

So are mainstream media and our political elites deliberately deceiving us or are they just simply ignorant of the facts? A bit of both, but more the latter than the former.

Is ignorance an excuse?

A recent survey of MPs conducted by the Positive Money group in London discovered that over 80% of MPs did not even know where money came from, let alone how the private debt-based system works to impoverish and enslave the majority. For details on this survey see: Shocking igonorance of MPs in Westminster

So why are we becoming poorer in the West with stagnant wages, persistent unemployment, government spending cutbacks and rising costs of living?

A scandal so big few can see it

The reason our economy is going down the tubes is that our money system has been privatised and is now based on debt – debt that extracts non-stop interest payments to the 1% while the rest of us must continuously tighten our belts.

In a nutshell, governments have allowed private banking cartels to fabricate virtually our entire money supply out of thin air (97% in the UK) as credit (their credit, your debt) complete with compound interest payments attached.

Allowing an economy’s money supply to be privatised as interest-bearing debt has a host of undesirable consequences, including:

  • an ever increasing extraction of unearned income from the real economy (the 99%) by the financial economy (the 1%)
  • a growing wealth gap between the few and the many
  • a downward pressure on wages and an upward pressure on prices
  • a scandalous housing price bubble dispossessing a whole generation from secure home ownership
  • the proliferation of cheap disposable goods
  • the collapse of small locally based business and the emergence of exploitative trans-national conglomerates
  • the need to engage in ‘race-to-the-bottom’ export warfare and increasing dependence on external markets and the global economy
  • the replacing of free market economies with rigged markets to serve the few (neo-liberalism)
  • the manifestation of acute public and private dependency on a rogue financial sector that is turning us all into debt-slaves (neo-feudalism)
  • the ‘normalisation’ of a parasitic financial economy that is sucking the life out of the real economy – the one we depend on for sustenance.

The killing fields of debt – a faulty design

We now collectively owe far more money to the banking sector than even exists – in the UK and worldwide.

Let that sink in.

It means we have to continue to be more indebted to keep the system ticking over.

It also means that sooner or later the whole system will collapse. Its own destruction is woven into its DNA. That’s not rocket science. It can be proven mathematically by simple arithmetic.

The consequences of attaching compound interest to virtually the entire money supply is first boom, then bust, then increasing poverty, then collapse.

Look at it another way. If you don’t have any debt and have money in the bank – it simply means that someone else is in debt. In a debt-based economy money only comes into existence when borrowed. That’s insane – but true.

A suicidal system

Ever wondered why we obsess about ‘economic growth’? The economy must continually grow to keep up with the increasing interest payments (or unearned wealth extraction – to call it what it actually is) on virtually everything. The unnecessary cost of interest is woven into the price of everything we need to buy. If the economy stops growing the money system collapses.

So we have the necessity of perpetual economic growth on a finite planet. It’s a completely insane and unjust system that is destroying the biosphere upon which we depend – as well as impoverishing us in the process.

So that is the problem … how do we fix it?

The question is, do we want to address this problem now and fix it?

Or do we want to continue to ignore it until we become so debt-enslaved and poor that violent revolution becomes likely?

Considering that fixing the current private debt-based system with a social credit system is relatively simple, I’d opt for that.

The essence of the change needed is to replace the private debt-based money supply with a debt-free money supply (social credit) for Wales. Simply put: change the rules of the the accounting game so that it favours everyone, not just the 1%.

Objections to sane social credit economics?

Some vested interests might claim that it would be far too complicated and disruptive. It’s not. Money is simply an accounting system, not based on anything of intrinsic value or scarcity. (No international currency is based on anything tangible since US President Nixon took the US dollar off the gold standard in 1971.) Switching from private debt to social credit is simply changing the rules of the game, and setting up institutions, (like a publicly owned and controlled national bank of Wales), to implement the changes.

Timid politicians might object that the banks would never allow their power to be diminished. To counter that objection, just one simple word: democracy. Democracy has always been the struggle of the people to throw off the shackles of those who would bind and oppress us. It is a never ending struggle. Why give up on it now?

As for the details, such as

  • would a debt-free Welsh currency be interchangeable with a debt-based English pound (like the Manx pound is)?
  • would the new currency have a pegged exchange rate or be floated?
  • should this new currency be electronic, or paper/coin, or a combination?
  • should a Welsh currency be backed by precious metals like gold and silver, stored in secure vaults?
  • should there be a range of complementary local currencies to support local economies?
  • should we engage in quantitative easing for the people, reducing and largely eliminating personal debt loads?
  • should we institute a universal basic income to replace the current benefits system?
  • should we start a public investment bank to finance local businesses, inventors and entrepreneurs?

You could answer Yes or No to any of these questions. Either way we would still be far, far better off once we have thrown off the suffocating shackles of debt.

These questions are opportunities that should engage the public and our elected representatives and be decided democratically, A social credit (debt-free) monetary system opens the doors to endless possibilities. All of them good.

But we have to start talking!!

An independent Wales the most prosperous country in the world? Are you kidding?

After many decades of neoliberal capture of discourse in mainstream media and  politics, virtually the entire world suffers the debilitating effects of private debt-based finance. This is particularly true of the “big economies”. Ever wondered why the world’s richest countries are  also the world’s biggest debtors? Now you know why.

Moving to a social credit-based economy would be like removing a growing blood-sucking financial leech off your back. A social credit economy would enjoy a health and vitality never experienced before in living memory. It would leapfrog us ahead of all other national economies burdened with debt.

Wages would be higher and the cost of living and housing would be lower. Goods for export could also be priced to undercut all ‘debt burdened’ economies (not that we would be dependent on exporting anymore).  Problems regarding lack of sufficient funding for education, health and social care would cease to exist.

Tax on earned income could be replaced by tax on unearned income (e.g. bank interest). The Welsh nation in a short span of time could enjoy the greatest income security and standard of living anywhere in the world.

Our biggest problem would be stopping the millions of English trying to move to Wales for the good life. Strict migration controls would be essential 😉 .

Of course our number 1 spot would not last. People all over the world would also demand emancipation from the death grip of debt-based finance. As the chains of debt were removed, other nations would catch up no doubt. We would just have to be content with having led the way, like Moses led the Jews out of slavery in Egypt thousands of years ago.

But some country has got to start the ball rolling. Why not us?

Too good to be true? Do your own research.

If you want to learn more about our current dysfunctional economy you can do some of your own research. Check out some of the links below:

Books

Killing the Host – How financial parasites and debt destroy the global economy

J is for Junk Economics – A guide to reality in an age of deception

Debunking Economics – The Naked Emperor Dethroned?

Interest and Inflation free money – An exchange medium that works for everyone

The Grip of Death – A Study of Modern Money, Debt Slavery and Destructive Economics

Websites

internationalmoneyreform.org

jamesrobertson.com

prosperityuk.com

jubileedebt.co.uk

planetponzi.com

Videos

Time for a Gold-backed Welsh Pound?

Solution One: Gold-backed Welsh currency

austerity measures protesterThe Welsh economy is receding, hard times are here. Worse is coming, (as with the rest of the UK and the EU). We are in a recession – which means the volume and circulation of money is shrinking.

The Westminster government is doing its part by cutting the budget and shrinking the money supply further. Why be a little sick when we can be easily made even sicker? !#-*(“!!

The Welsh Assembly needs to actually DO something to turn the Welsh economy around – which is not so hard to accomplish when you start messing around with the money supply.

Don’t be alarmed at that suggestion. The money supply has always been messed around with in the UK, at least since 1695 when the Bank of England was established and the National Debt began (and grown ever since).

And even before that, English monarchs used to call in the silver pennies, melt them down, mix in cheaper metal like copper, and then print a whole lot more coins – and keep the “new money” as additional revenue :D.

Money and fiddling the monetary system are two sides of the same coin.

Or to put it in another way:

if you’re not doing the fiddling – you’re the one being fiddled!

We all know that the banks are screwing us (with the support of the Westminster government bailouts). It has been calculated that interest charges woven into the system (essentially a private banker’s tax) increase the prices of goods and services on average by 35% to 40%.

Isn’t it time we democratically turned the tables here in Wales?

There is a wide range of measures the Assembly could take to get the Welsh economy rolling by massaging the money supply, but for the purpose of simplicity I’m going to focus on only one solution today –  a way of fiddling the money supply that is both simple, legal and foolproof – establishing a gold-backed currency for Wales.

And no, it won’t cost Wales a penny. On the contrary it would increase our money stock substantially. It makes us money. Lots of it. Money for nothing – just like the bankers.

Wels gold-backed moneyEstablishing a gold-backed Welsh pound could be easily accomplished by converting the annual block grant (the tax money the Assembly gets back each year from London) of around £15 billion into physical gold, stored in a ‘Welsh Fort Knox’. Then the Assembly simply deposits £15 billion gold-backed Welsh pounds into the Assembly’s bank account as its yearly budget.

In a sense we’ve just doubled our money. A portion of the gold-backed Welsh pounds may leave Wales, but the £15 billion in physical gold bullion will remain :).

Bank of Scotland and Bank of Clydesdale poundsThe Assembly could use it to pay for their services as they normally would with English pounds. Of course, sufficient amounts of paper Welsh pounds would need to meet local demand and use, like the Bank of Scotland and Clydesdale Bank pounds in Scotland.

Okay, that’s interesting, you may say – but how is that going to help the Welsh economy?

I’m glad you asked.

A gold-backed Welsh currency would be the only currency in the EU that is not just backed by toxic bank debt and fabricated, false confidence. It would quickly establish itself as a currency of substance in stark distinction to debt-based fiat currencies that represent liabilities, not assets. (This worthless debt-based fiat money now rules the world as the Euro, the US dollar and Sterling pound – the rot at the centre of our economic system.)

The stature of gold-backed Welsh pounds would give Welsh business the upper hand in business dealings worldwide. After all, would you rather be paid in gold-backed money, or worthless paper representing toxic debt?

Most importantly, a gold-backed Welsh pound would not be prone to a continual devaluing through inflation – a chronic and unavoidable symptom of debt-based currencies like Sterling and the Euro.

If pegged to the Sterling like the Bank of Scotland and the Clydesdale Bank pounds, the volume of Welsh pounds would grow without cost. If floated on the open market, the value of the Welsh pound in relation to Sterling and other world currencies would rise, as would the Welsh economy in general.

However you look at it, establishing a gold-backed currency would immediately place Wales on a sounder economic footing than our two nearest neighbours, England and Ireland.

The only real debate worth having is whether we let the gold-backed Welsh pound float on the open market, or peg it to the English pound. There’s are benefits to both approaches.

Those who would feel obliged through tradition or pressure to oppose a gold-backed Welsh currency would probably repeat the worn-out mantra:

“Mainstream economists don’t agree to returning to the gold standard.”

Given the state of the economy these days there is a good argument for dismissing anything the “mainstream economists” might advise. Mainstream economics have brought us oppressive debt and now austerity misery while stressing out the ecosystem of the planet. Mainstream economics has been thoroughly discredited.

(If you still have any doubts about the credibility of mainstream economics and government fiscal policies, click here for some education.)

I have floated the idea of a gold-backed Welsh currency to a number of ‘non-mainstream’ economists and the only argument against it was from HW, a dyed-in-the-wool British nationalist, who complained it might undermine the sovereignty of the English pound. (Yes, that’s the same HW who once disclosed his fantasy of blowing up the Welsh Assembly so we could go back to direct rule from London.) In short, there are no credible arguments against a gold-backed Welsh currency.

So how much would Wales gain if it started a gold-backed currency?

5 yeqar gold price increase

Over 5 years the price of gold has risen 168% from £399 per ounce to £1,050 per ounce today. Given the increasingly dire state of debt-based economies, the black-hole of swelling debt, and the continuing march to collapse, reason would say that the price of gold will rise exponentially over the next 5 years. Speculators are predicting a 300% to 1000% increase over the next few years.

But just to be very conservative, let’s say that gold slows in price growth to only a 20% increase per annum over the next 5 years. So 15 billion times 3 billion per annum increase equals 45 billion. So even with a conservative estimate an additional £45,000,000,000 (45 billion) would be created for the Welsh economy over 5 years. Or to put it another way, an additional £15,000 for every Welsh man, woman and child.

Mind you, the fact that China along with International Banks world over have been buying and stockpiling gold like crazy over the past year clearly shows that confidence in debt-based money is crumbling and the world economy will continue to collapse. This means we are quickly approaching a spike in gold prices.  Rises to a 1000% or more over the next 5 years is very likely.

How much would a Welsh gold-backed currency gain in this probable event? – an extra £750 billion pounds, or  £250,000 per woman, man and child – or around 1 million pounds  per two child family!

Seems too incredible to believe? You do the sums. It’s not Rocket Science!

That additional funding could be sent directly to all Welsh residents as a Citizen’s Basic Income (without means testing), along with the elimination of council tax.  The effect would be a super-charged Welsh economy.

The unambitious could retire early and live off the interest. Others could go into business on their own. The bottom line is financial freedom for everyone. No debts. Money in the bank.  Good money –  backed by gold.

The  weakest point to adopting a gold-backed currency for Wales would be our lack of border control; our powerlessness to stem a highly probable flood of economic migrants from England and Ireland. To solve that problem we would need an independent Wales, independent of London and Brussels – step two :).

The bottom line is this: given the perilous state of the world economy with chronic recession and inflation, and another six years of ‘austerity’ in the pipeline pushing us towards an impending economic collapse – what have we got to lose? It’s time to think outside of the box. It’s time to do new things.

Albert Einstein once said that the definition of stupidity is doing the same thing over and over expecting different results. That pretty much sums up the Welsh Assembly’s approach to our economy so far. Isn’t it time we stopped being pig-stubborn and stupid? Isn’t it time we did something different? A gold-backed Welsh currency would be a good start!

Fear of Freedom – A Conspiracy of Silence

debat based money scamThe negative symptoms of the disease are everywhere – congested supermarkets and shopping centres, congested traffic, predatory and prey working conditions, cheap throw-away products, declining standard of living, environmental degradation, loss of work, loss of home, loss of security, loss of health, slipping deeper and deer into debt.

We talk endlessly about ‘the economy’ and its woes such as unemployment, rising cost of living and inflation; we bemoan austerity measures; examine the pro and cons of this measure or that work programme; follow the rise and fall of the stock exchange; debate the stupidity of bank bail-outs; worry about increasing recession …

But … we never ever talk publicly about the root cause of these negative symptoms, the dysfunctional debt-based money creation system. The disease at the centre of the economic system is never discussed, diagnosed, or treated. The disease I am referring to is the system whereby private banking cartels create and control the money supply as debt – enslaving businesses, governments and people alike.

The cause is staring us in the face. Yet we look away, despite the fact that the vast majority of us are negatively affected by this money creation scam.

For example, when an economy becomes reliant on a money supply based almost exclusively on debt, an intensely competitive system emerges, almost anti-social in nature. This ‘dog eat dog’ system emerges, not out of our ‘base human nature’ but out of the need to escape debt by foisting it on others – just to survive. A system of winners and losers. Think about it – if you have money and no debts it’s because someone else had to go in debt (if not, the money you have wouldn’t have existed in the first place). The brutal truth is that the vast majority of us are losers – the current average household debt in the UK is £53,785 (statistics for November 2012, sum includes mortgages).

(“Mmmm … I think I’ll try to become a winner … fuck everybody else!”)

Also, we are increasingly becoming insecure regarding our most basic needs – like having a secure home. The simple and necessary need of having a roof over your head is under increasing threat. Over the past 50 years house ownership (no mortgage) has fallen from over 50% to now around 30%. In other words, our homes are being taken over by the banking sector via price inflation and more and more of us are enslaved by mortgage payments, the only way to avoid homelessness and destitution. Currently in the UK a home is repossessed on average every 15 minutes and 30 seconds. Every day. What kind of a fucked up system is that?

(Mmmm  … so I can choose between being a debt-slave in a house … or debt-free in a cardboard box …”)

And then there’s the end-game. Earth’s health itself is under threat by one of the most absurd and deadly symptoms of the debt-based money system – the need for perpetual economic growth – just to delay inevitable economic collapse. The debt-scam system gives us a choice between trashing Earth or economic destitution.

(“Mmmm … hard choice. I guess we’ll just have to trash the planet.”)

To put it in another way, the debt-based monetary system is cancerous. Like a cancer it grows exponentially until it kills the host. From our direct individual perspective, it first enslaves us in debt, then it impoverishes us by driving us into perpetual economic insecurity.

This cancer also exasperates wealth disparity, as the few become billionaires while more and more of us worry just about getting by the next month.

Like all cancers, the debt-based money system’s need for perpetual exponential growth is eating away at the very biological foundation of this planet. The current monetary system is clearly and demonstrably ecocidal.

The simple, oh so simple, solution is to replace this defective, unjust, and in the end, doomed debt-money-creation system with a sound one that serves everybody justly and equally – replacing the need to slave your life away in demoralising employment, or to destroy the very place we need to survive.

There are a number of reforms to the debt-based money system that have been put forward over the decades and although they differ in approaches and details, they all hold one thing in common: they would all create a far more fair, relaxed and  enjoyable society where chronic economic insecurity and increasing inequalities in wealth would be a thing of the past.

The bottom line is this: replace the debt-based money stock controlled by private interests  with a debt-free money stock(s).

We need to move from a system that creates unsustainable inequality to one that provides sustainable prosperity for all.

If you think that’s a pipe-dream, think again. We have the knowledge. We have the tools. It is a straight-forward commonsense approach to building an economic system based on sound principles, and requires little, if any, cost or government intervention, (apart from a few changes in banking regulations).

So what can you do, you powerless reader, you debt slave, you quiet frightened little mouse?

Learn how the rotten, lecherous debt-money supply works. Inform those around you.

Initiate or participate in a nation-wide debt-repayment strike.

Start a local currency or LETS scheme.

Demand your elective representatives (in all levels of government) inform themselves and establish a public opinion on the issue – (so at least they can be held to account).

Vote for the candidate in elections who understands the dysfunctional debt-money system and is committed to work to change it. No candidates fit the bill? Run yourself!

So come on guys. Let’s get off our butts and start doing something to bring back sanity and justice into the system. Our technology and productive capacity has reached the point where full employment is no longer required to provide for all. The good life is within our reach. Very doable.

We just need to replace the greedy, deceptive snake-oil salesmen controlling our money supply with a sound, open, transparent and democratic money supply that serves all.

We don’t need debt. We need money. We need freedom.

If you can’t be bothered to do anything for yourself, do it for the kids, before they get saddled with an even bigger and more oppressive debt burden than we suffer under today.

– – –

P.S. For the latest figures on the dire debt situation in the UK see: http://www.creditaction.org.uk/

To learn more about the rotten date-based money system check out some informative videos here.

Money talks while Welsh Assembly Members plug their ears

The Grip of Death Monetary ReformEach and every Welsh Assembly member was alerted, at least once, possibly many times, of the importance to attend the talk about money where the roots of the economic recession and excessive debt burdens would be clearly explained.

They were reminded that ‘ignorance is not bliss’ when it came to understanding where money and debt came from – especially since they are in part responsible, through ignorance and inaction, for the sad shape the Welsh economy is currently in.

Out of 60 over-paid Assembly Members alerted, a grand total of six, or 10%,  bothered to show up, listed below:

  1. Darren Miller, Conservative
  2. Alun Ffred Jones, Plaid Cymru
  3. Paul Davies, Conservative
  4. Angela Burns, Conservative
  5. Mark Drakeford, Labour
  6. Julie Morgan, Labour

(Chwarae Teg to Darren Miller who convened Ben’s talk.)

Ben Dyson of Positive Money gave a clear talk about the the origins of our debt crises, explaining how the banks have fraudulently taken over the money supply as interest-bearing debt and now we are all swamped in unrepayable debt (considering we owe more money than there even exists!).

Ben is top-notch at explaining the source of the problem and pointing out exactly how the banks are sucking us dry like leeches forcing us into poverty and “austerity measures” when we should be rolling in riches given the productive capacity of modern industrial society. However, when it comes to solutions, he is sorely lacking.

Perhaps typical for a London-based man, he can’t seem to envision a solution that isn’t centralist and undemocratic. When it comes to managing a debt-free money stock for the economy he is actually dismissive of democratically elected representatives claiming they ‘can’t be trusted’, preferring an unelected body (in London no doubt) to control the United Kingdom of Northern Ireland and Great Britain‘s money supply.

So in other words, he proposes to get people in control of the money supply that is not democratically accountable and cannot be removed by the demos. Of course that’s exactly what we have today were approximately 80 private bankers control virtually the entire UK money stock, how much is  produced, and where it goes.

The difference with Ben’s solution is that the money wouldn’t be created by private banks out of nothing as interest-bearing debt but created from within the government as a debt-free money stock for the UK State. This would be far better that the ridiculous system we slave under these days. but sticks to centralized unaccountability – or to put it in another way, anti-democratic autocracy, no matter how ‘good-willed’ it may be in principle.

Soon after Ben finished his presentation questions were solicited. After the present Assembly Members were given priority with a few timid questions they all got up and left – before discussion with members of the public got going. Typical.

So they didn’t hear our concerns about Ben’s centralized solution. Nor did they hear my proposal that the Welsh Assembly convert their 18 billion pounds yearly block grant from London (or however much it is) into physical gold stocks securely stored somewhere in Wales. We could then produce 18 billion Welsh pounds, backed by gold, to run public services, in stark contrast to the virtually worthless English and Scottish pounds.

Given the escalating price of gold as the debt-based economies continue to collapse, in 5 years Wales would be awash with somewhere around 200 billion in gold reserves and 200 billion gold-backed pounds circulating through our economy, while England chocked on its debts.

Our only concern then would be limiting the huge influx of economic migrants from England!

The public cheered the idea – while Ben looked a little pale. Like the saying goes, you can take the lad out of London, but you can’t take London out of the lad!

Remember, I emailed each and every Assembly Member about the talk and underlined the fact to them that “ignorance is not bliss” when it comes understanding money and the economy. It would appear, given their dismal attendance record and the conduct of the few who came, that they beg to differ.

Leanne’s proposals – re-arranging deck chairs on the Titanic

leanne wood plaid cymruLeanne Wood, newly elected Leader of Plaid Cymru The Party Of Wales, has outlined a programme to revive the Welsh economy see: Plan C. As is usual for virtually all mainstream political parties these days, it boils down to “re-arranging deck chairs on the Titanic” rather than exposing the underlying causes and proposing necessary radical changes to the system.

Unsurprisingly, she starts with the standard put-down of Wales with the usual labour-like-lefty moaning refrain: “we’re sooo poor – it’s not fair!, etc. etc.”.

She then calls for “the devolution of borrowing powers and responsibility over macro-economic levers” and a change in public procurement policy.

Regarding procurement policy, the way it works these days is through competitive bidding – with the ‘best value for money’ (lowest bid) almost invariably winning. Yes, that means that outside corporate interests can usually win these bidding wars ensuring that tax money returned to Wales quickly disappears again, keeping the economy short on cash.

Leanne Wood is absolutely correct in questioning this ‘best value’ approach to public procurement but her proposals to change it is just hot air and would never fly – because it directly conflicts with one of Plaid Cymru’s most cherished goals – to become another vassal state of the European Union.

The EU is all about protecting the interests of the financial elites and corporate power. It is the EU that forces competitive tendering and ‘best value’ procurement ensuring that money always moves up, and the growing divide between the uber-rich and the rest of us is maintained and strengthened. You only have to see the current brutalisation of the Greek, Spanish and Irish people by the EU troika’s* austerity demands if you have any doubts what membership in the EU really means.

“Progressive procurement” as Leanne calls it is good idea, but impossible in Plaid Cymru’s larger vision for Wales.

As for the devolution of “borrowing powers” – that’s a no starter. In fact it’s a very narrow-minded approach to reviving the Welsh economy. Wales, like the rest of the Western world, is already suffering under crippling debt levels. The UK government has allowed commercial banks to take control of 97.3% (and growing) of the entire UK money stock – meaning that debt-slavery, relentless crippling inflation. and austerity measures are built into the system.

We don’t need more debt. We need LESS debt – and more real (debt-free) money.

On that vein, it’s ironic that two speakers were invited to the Assembly in this Spring (arranged and hosted by a Labour and Conservative AM). One speaker was Ben Dyson of Positive Money. The other was a researcher from the New Economics Foundation who made an argument for the creation of a debt-free Welsh pound spent into the economy which would rapidly make Wales the most solvent and vibrant economy in Western Europe. (That’s not rocket science. It’s just basic mathematics, simple and straightforward – once you understand how the money system and economy actually work in the real world.)

What’s ironic about these monetary reform proposals made to Assembly Members and members of the public was that not one single Plaid Cymru AM bothered to come and listen – even though I personally invited (virtually insisted) that Plaid’s shadow minister for economics, Alun Ffred Jones, come to the talk!

Leanne then goes on to propose an “unconventional fiscal policy [which] involves shifting the balance from revenue spending to capital expenditure. On a macro level, the proposal is for the government to control and manipulate the economy through its enormous fiscal clout. That makes perfect sense if you adhere to an overbearing government bureaucracy controlling almost every aspect of our lives. They tried it in the USSR. Didn’t work. They are now trying it in the EU. Won’t work. It will just lead to more stagnation and collapse.

We need a Welsh government that says NO MORE! to the international financiers and corporate interests controlling people and governments around the world. Simply “window dressing politics” will no longer cut the cake. Until Leanne and Plaid Cymru are willing to admit that the financial Emperor (the City of London and the EU troika) has no clothes, and accept that we need a commonsense and radical shift away from an economy based on debt and concentration of power, they can not offer the Welsh nation annibyniaeth go iawn – real freedom or independence.

If you are a Plaid Cymru member, please tell your party bosses to pay attention to the short video below, and do some thinking.

*The troika is a slang term (Russian for triad) for for the three organizations which have the most power over member state’s financial future – or at least that future as it is defined within the European Union. The three groups are the European Commission (EC), the International Monetary Fund (IMF), and the European Central Bank (ECB).

Welsh Water Ripoff

welsh water for walesWater is life and by natural right it belongs to the country it’s found in – but not in Wales. Since 1989 our water has been ‘privatised’.

Crooks, claiming ownership with pieces of paper with numbers and fancy words backed by Banksters, English Law, the police and if need be, the British Army, took exclusive ownership and control of our water resources.

Predictably, things have gone downhill since then. This essential and valuable resource became the plaything of transnational corporate power games. The Welsh nation bowed to this new usurper by paying tribute in the form of sky-high water bills.

By the turn of the century Welsh water’s ‘owner’, Hyder, mismanaged itself into bankruptcy. A hasty Assembly-lead ‘Welsh-solution’ rescue package was cobbled together.

But the facts tell a different story …

Hyder, means ‘confidence’ in Welsh – the name being little short of a confident trick. Hyder was not a Welsh company at all. Not even remotely. (Reports say that Hyder’s bosses insisted employees mispronounce its name as ‘hider’.)  After staggering mismanagement Hyder was flogged off to  Western Power Distribution, an American-controlled conglomerate that picked up our water resources as part of its global public utilities portfolio.

Then the Bansters (NatWest) stepped in to purchase our Water resources using a newly fabricated organisation (which the dummies down in the Assembly were keen to take credit for), It was labeled a “not-for-profit Welsh solution” calling itself Glas Cymru, literally, Blue Wales.

But Glas Cymru’s Welsh credentials are at best window dressing. With regards to its ‘not-for-profit’ spin, the reality is that just about everyone involved makes a tidy profit – except the Welsh.

Glas Cymru’s claimed not-for-profit status is deceitful. Basically, all it means is that the money to bail out Hyder’s inherited debts was borrowed rather than financed through selling shares. This deal now results (2011) in £174 million (or approx. £135 of each and every household water bill) in interest payments every year – essentially a private Bankster’s tax.

In other words, this ‘Welsh solution’ to managing our water now results in a yearly transfer of £174 million from us in Wales to the wealthy banking elites centered in London. And for this privilege all they did was to type a few numbers into a electronic accounts (As we are all coming to realise, borrowed money is fraudelent money created by banks out of nothing at no cost to them.)

This ‘Welsh water solution’ is a scam of mega proportions – but under English law and  slavish Assembly mentality, it’s considered legal and sensible.

The ‘Welsh’ dimension to Glas Cymru is in its selection of members. It was first headed by Lord Burns, a favourite of the Thatcher era (formerly Treasury Permanent Secretary) who as the non-executive chairman (i.e no responsibilities) gets payed £140,000 a year. That was way back in 2002, probably a lot more now. Bob Ayling, below, took over from Lord Burns in 2010.

glas cymru chairman

In addition to the Chairman there are 9 other appointed mainly non-executive directors which is essentially patronage appointments with no responsibility. It’s hard to get a precise figure on how much we are paying them for doing nothing but “Directors’ emoluments” is listed as costing us £1,200,000 in 2011. Divide that by 10 and you get £120,000 each.  To see a list of the latest Glas Cymru “good welshmen” click here.

At Glas Cymru’s inception, “Welsh” Labour was predictably pleased with itself -“I particularly welcome the prospect of Welsh Water being owned once again based, managed and controlled from Wales, based on a principle originated in Wales”, said our then Prif Weinidog Rhodri Morgan.

Although Glas Cymru claims to own and control Welsh water resources, it doesn’t actually run the industry. The real work is contracted out to very-much-for-profit companies.

Although they still use the Dwr Cymru Welsh Water tag, the fact is that the companies squeezing us for profit by supplying us with our own water are not Welsh at all. The business of maintaining the water supply is contracted out to United Utilities, a profit-making English company. Customer service is contracted out to profit-making Thames Water, an English subsidiary of a German-owend conglomerate RWE. Other companies such as Wessex Water also have their fingers in the our water pie.

Unravel the “Welsh not-for-profit” spin and we discover exactly the opposite.

So where was Plaid Cymru “The Party of Wales” when this was all coming about? Should they not have been screaming “bloody murder” from the rooftops and exposing this farce called a ‘Welsh solution’?  Yes, you’d think so … but no, not a murmur. Incredibly, Plaid’s policy on Water was written by a member of Glas Cymru (who also doubled as a member of Plaid). Accordingly, it stated, without any qualification,

We need to recognise that re-nationalisation [of the water industry] is neither feasible or necessarily in the interests of Wales and its various stakeholders.”

What it neglected to point out was that Welsh water resources had never been nationalised in the genuine sense – owned by Wales for the Welsh. ‘Nationalisation’ has always meant controlled by the British State thoroughly dominated by majority English interests. Plaid’s policy also failed to explain who the “various stakeholders” were but we can assume they include the bodies, including members of Glas Cymru, who are pocketing tidy sums of money for their stamp of approval.

With regard to the prospect of Welsh companies managing our own water resources, the paper takes a familiar ploy in talking us down and virtually dismissing Wales’ ability to undertake such operations. “The obstacle”, it stated, “will be in developing a management, technical and systems infrastructure comparable with those developed by incumbent operators.”

No, us Welshies could never manage our own resources as good as the English and Germans do it for us. What demeaning neo-colonialist bunk! – and straight out of a Plaid policy paper!

The policy paper was warmly endorsed by Arweinydd y Blaid Ieuan Wyn Jones who wrote in the forward that the policy paper is “a significant event in the evolution of party policy”. Significant indeed. Who is left to champion natural justice for Wales if not our illustrious  ‘Party of Wales’?

The only saving grace in this policy paper was a meek suggestion that perhaps we should be seeking some return for the water transported to England. Approximately half of all Welsh water resources is exported to England for the grand sum of £0 – dim byd. They get our water, we don’t even get a ‘thank you’ in return.

It’s the British version of free trade – Wales gives, England takes – for free.

Not only that, average domestic water bills in England are substantially lower than in Wales – around £50 less on average. The official excuse for this discrepancy is that it is cheaper to transport Welsh water to England for English consumption than to keep it in Wales for Welsh consumers. Go figure that one out!

If Wales began to charge a fair price of its exported water resources well over £100 million in extra revenue could be generated (or around £100 could be deducted off our annual domestic water charges for every household).

Also, if we cut the Banksters out of their ill-gotten annual take for their fraudulent money creation (i.e. counterfeiting) on a massive scale, our domestic water bills should be close to zero – possibly even get paid a dividend each year.

They call it ‘market rationalisation’. We should call it for what it is – state sanctioned theft on a grand scale.

dwr cymru welsh waterEven if we continued to pay the Bankster’s private tax called interest, a nationalised Welsh Water Industry publicly financed and contracted to Welsh operators, including a fair recompense for our exports, would ensure our domestic water bills could be halved in cost – as well as ensuring a secure economic opportunities for people in our rural communities.

For the sake of our children, if nothing else, it’s time we stared demanding just that.

 

UK Titanic – time to prepare the Welsh lifeboats?

welsh lifeboat

Kate wastes champaign on Welsh lifeboat, Prince William knows his place 🙂

The entire financial world is going down the tubes. You don’t have to be a brain surgeon to figure that one out. Even the BBC lets little hints of the crises slip out now and then.

The gangsters (or Banksters to use modern slang) running the world economy for their own profit and everyone else’s debt misery are largely centred, coddled and protected in London.

It makes no difference whether the Conservatives, Labour or Liberal Democrats are running the UK, the entire British political establishment are puppets and mouthpieces of the Banksters.

Here in Wales the silence of our nationalist party, Plaid Cymru, is deafening. They rattle on about ‘creating more jobs’, just like their British counterparts in London, but are unwilling to stick their head above the parapet, to speak the simple and obvious truth – that the Global Financial Emperor (that we are currently enslaved to), Has No Clothes!

We don’t need more jobs – we need income security and less debt. You don’t get that with jobs in a global economy collapsing under the death-weight of fraudulent debt bonds.

There has never been a time in human civilization where real wealth is so abundant due to the technology of mass production. Yet we live in a world of company warehouses overflowing with cheap crap that still can’t all be sold due to insufficient purchasing power.

We are inhabiting a world being suffocated by debt and starved of cash.

The goal of ‘balancing budgets’ in practice means increasing the burden debt (representing almost the entire money supply – 98% in the UK) on the increasing poor and nearly poor – reducing yet further our already far too weak purchasing power.

These new ‘austerity measures’ being introduced in the UK and Europe is like a witch-doctor demanding more leaches to be applied to the patient when the first round of leaches have failed to show any improvement.

Will Wales wake up in time to launch the Independent Lifeboat before the UK Titanic goes down?

An independent Wales with its own debt-free monetary system would be the most secure and prosperous nation on the planet. Debt-riddled countries would be lining up to do business with us – although there would be little need for us to reciprocate.

Or will we follow Plaid Cymru’s lead and be too frightened to speak up,  following everyone else like lambs to the slaughter?

As usual, Stacy Herbert and Max Keiser, speaking on Russia Today, tells it like it is – something you will never hear on the BBC.

UK – The Imminent Collapse – take it away Max 😀

The Great Money Fraud

Or how Wales and the rest of the world is being totally screwed over

These last few weeks we’ve seen panic and turmoil in Euroland as the very future of the European Union is in question over the mounting debt crises in Greece, and other geographically peripheral nations.

The Technocrats have made a bid for power attempting to bring in a new EU treaty that would essentially consolidate power in Brussels to control national government’s expenditures.

In other words, democracy overturned in the name of ‘fiscal responsibility’.

The whole project is a complete sham and fraud. Let me explain why.

Nations of the European Union are like most other nations worldwide these days – they have debts that far outstrip the total supply of money.

How is that possible? Because over 95% of the money supply (around 97.2% in the UK) is debt money, fabricated by the banks out of thin air (fiat currency) as debt to be paid back with interest – for their own profits.

This ridiculous, deceitful and fraudulent system for supplying nations with a money stock is why:

  • we (governments,individuals & companies) are always in debt
  • the average debt per individual rises every year (currently average  £29,532 owed per head in the UK)
  • we have to have forced economic growth every year (until the planet packs itself in)
  • we try to achieve full employment rather than full lives

The list could go on and on because the negative effects of a fraudulent and defective monetary system is almost endless.

So why is Greece, Italy, Spain, Portugal and Ireland in such a debt ridden mess while France and Germany are more solvent?

It’s because of their location, on the edges of the EU transport network.

You see, taking just the Eurozone countries, the ‘free-trade’ the technocrats champion is actually economic warfare.

Because all the countries are saddled with huge unrepayable debts (because that’s where the Euro, indeed all ‘modern money’ comes from) to remain afloat it is essential to achieve a balance of trade in their favour. In other words, to keep their debts serviced they have to get money from elsewhere (sell more than they buy).

France and Germany, being in the centre of this trade zone have a physical advantage to roll out their manufactured products to the peripheral nations. The peripheral nations get the goods and the debt which keeps France and Germany from going under.

In other words, nations like Greece and Italy are helping France and Germany pay the interest on their debts while their themselves become insolvent.

In this debt-based economy, nations must engage in trade balance warfare just to survive.

Mind you, it’s survival just for the winners. There has to be losers in this system. Some one has to end up with more debt than it can keep paying the interest on. The international trade / debt system is like the children’s game Musical Chairs.

In the EU version of Musical Chairs there are a lot less chairs than players. In this latest round, Ireland, Greece, Italy Spain and Portugal have been left standing. And its’ given the unelected technocrats in Brussels all the excuse they needed to have democratically elected leaders in Greece and Italy removed and replaced by ‘Banksters’ – the people most responsible for the problems in the first place.

Listen to Max Keiser’s take on this fiasco below. He’s one of the few economists who dares to break rank and state the obvious. (Reporting from Paris via Moscow – I don’t think any Western media would allow him a voice)

If you think that we’re safe here snuggled up to England – think again.

Cameron rejected the new EU’s anti-democratic treaty – which was good – but for all the wrong reasons. He admitted (boasted even) that he wanted to protect the interests of the financial elites that make London their home. Some of the biggest crooks in the banking world, fraudulently bilking billions from the system live in London, protected by the UK establishment.

Not only is there no protection for Wales staying in the UK, we’re almost guaranteed to go down the tubes if we don’t get off this growing debt whirlpool and return to a sound monetary system – debt free Wales.

Here’s a glimpse of the latest statistics I gleaned from the Bank of England statistics:

UK Money Supply Autumn 2011

Personal debt

  • average household debt (including mortgages) £55,795
  • average owed by each adult £29,532
  • average intererst paid per houshold per year £2,440

——————–
total mortgage debt: £1,242 billion
total credit/loan debt: £209 billion
total personal debt: £1,451 billion
total commercial debt:  £1,241 billion
total Pubic (government) debt: £974 billion
——————-
total debt: £3,666 billion (or 3.666 trillion)
——————
notes and coins (debt free money): £61 billion (or 2.8% of the total money supply)
—————–
total money supply: £2,132 billion
total money owed:   £3,666 billion
shortfall:          £1,534 billion

That’s right, the UK owes 1.5 trillion pounds more than there even exists. Talk about a black-hole debt!

In other words, if every English pound in existence went to pay outstanding debts, there would not be a penny left in any account – business, personal, or the governments – and we’d still owe 1.5 trillion … or 1,534 billion … or or 1,534,000 million …  or 1,534,000,000 … or one and a half million million.

The monetary situation in the UK and around the world is totally absurd, totally unjustified, and totally corrupt. It is virtually screwing us all – nations and people.

It’s time people woke up and opened their eyes. It’s time to proclaim that the The Emperor (the monetary system) Has No Clothes!

Can Wales AFFORD independence?

Below is a short article I pasted in syniadau.forumotion.net/ in May 2011. It has so far been view 85 times and received 0 response.

Apparently no one disagrees with it but why the silence? when we examine the thing most of us spend our entire lives chasing and worrying about – money. Is it a taboo subject?

– – – –

The question “Can Wales afford to be independent?” is a misguided one based on confusion of how the economy and the money system operates.

A more legitimate question is – Can Wales afford to continue to be locked into the failing UK economy where all crucial decisions are made in London?

If you want to discuss affordability you must understand the nature of money – the linchpin of all modern economics.

A quick overview of the money system:

Less than 3% of the UK money supply is in notes and coins – the rest is simply electronic numbers in bank accounts, credit card statements,and the like.

More importantly, the “electronic” 97% of the money supply is debt – to be paid back with interest – mortgage debt,business debt,personal debt,public debt. Our money supply is debt.

How has this come about? When banks lend money (or credit card extend credit) they don’t take it from somewhere else. They create it out of nothing – as debt – to be repaid with interest. Over time the debt supply of money overtakes the debt-free supply – notes and coins.

In the UK, the money supply grows by around 8% a year – all debt money. As an economy we have to borrow more money every year just to keep up to the paying the interest of previous borrowing. It’s like digging a deeper and deeper hole every year just to fill previously dug holes.

We now owe far more money than exists. There is no escape if we stay in a debt-based economy.

While the bankers and financial elites rule London, and London rules the UK, there is little hope for Wales getting off the debt slave treadmill.

We can only expect increasing debt, foreclosures, and cyclical inflationary growth (fuelled by expansive credit/debt creation) followed by recessions and cutbacks as the debts become unplayable.

The 2008 recession is just a calling card of worse times to come if we don’t get off the debt wheel.

So what could an independent Wales do to right the situation, you ask?

Simple – three little laws. One would create a national currency for Wales. Second, we create a national bank of Wales, democratically owned and controlled. Third, we would require the banks to do what most people think they do now – lend money they already have.

Only the national bank, on behalf of our nation would have the right to create money out of nothing. If the banks wanted to lend more money than they had they would have to borrow it from the national bank.

With a stroke of the pen we would reverse the playing field. The big financial wheels would have to pay interest to us, the country, for using our money – not the other way around, like in the UK now, where the entire economy is in debt to the elites. (a stupid, unjust, rotten system when you think about it).

So in the future, if Wales needed to undertake some major public projects (like building 10 more hospitals and 50 new schools) the question – do we have enough money for it? – would be senseless. The correct question in a debt-free system would be – Do we have enough workers and materials to undertake the projects?

So can Wales afford independence? Absolutely! If we take control of our money supply in a democratic and responsible fashion we could be in for a very bright future.

Can Wales afford to stay in the UK? Only if its prepared to suffer more debt, poverty, recessions, inflation, stagnation and misery.

1 2