Money talks while Welsh Assembly Members plug their ears
Each 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:
- Darren Miller, Conservative
- Alun Ffred Jones, Plaid Cymru
- Paul Davies, Conservative
- Angela Burns, Conservative
- Mark Drakeford, Labour
- 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.