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!

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.

 

Royal Wedding Disapointment

I just got in after 18 days at sea and discovered the grand royal wedding of William and Kate was done and dusted.

No big deal. I have no obsession with the royals or any other celebrities for that matter.

But I was mildly disappointed it wasn’t held in Wales. We missed out on making a small mint selling souvenirs to crowds of brainwashed English folk.

Don’t know why I was thinking it was to take place in Caernarfon. Maybe I got it muddled with the coronation thing.

But no grudges. Let the English have their day with their silly hats and union jacks. I only feel sorry for the small number of royalist adoring Welsh morons. There are a still a few around – almost all over 80 years of age mind you.

Weddings come and go. Royal lines come and go. And in time, the English grip on our nation will go.

It’s loosening every day, every month every year.

It is no longer a question of if Wales will be free but simply when it will be free – free to carve out its own destiny  – an ancient nation with a solid future.

The king is dead. Long live the Welsh Republic.

Fe ddaw ein dydd.

A Welsh Republican Response to the Impending Royal Wedding

Disclaimer: Apart from a brief visit in January I have been out of Cymru since last summer, sailing to Ireland, later Lanzarote, and now find myself in the West Indies. So I’m not totally up on current events.

Despite my distance, I’ve gathered from the BBC world service that a big royal wedding dodo is planned for this spring sometime. Prince William is getting married to his longtime girlfriend whats-her-name. (I do however have a dim memory of what the bride-to-be looks like having seen a picture of the couple on a tabloid cover a long time ago – a pretty girl with long brown hair?)

My guess is that most of the English will make a big hullabloo over this and the BBC, fulfilling its mission, will try to give the impression that the Welsh and Scottish admire and respect the English Aristocracy as much as the English themselves. They will be correct to a degree – or more specifically the Welsh who were born prior to 1935 – a generation that has been remarkably brainwashed into veneration of everything “British” facilitated by the trauma of World War 2.

For some reason I have the notion that the couple will be wedded in Wales, maybe Caernarvon Castle? If that’s the case, there will surely be Welsh nationalist “protesters” denouncing royalty with placards and the like, who in turn will be totally and utterly ignored by the entire British media machine.

As a republican committed to an independent Welsh Republic (outside the European Union like the two most prosperous and happy nations in Western Europe – Norway and Switzerland), what’s my take on the up and coming royal wedding ?

I will give this event all the attention it deserves. In other words I’m going to ignore it. And that, I believe is the best course for all us died-in-the-wool nationalists.

Suppose you make an anti-royal protest and surprisingly get some media attention (highly unlikely as it may be). What’s the end result? You come across right sourpuss. A miserable unhappy spoiler. You won’t further the cause of Welsh independence one iota.

The entire social pyramid of aristocracy so carefully crafted by the Normans (and stupidity worshiped by the subjugated English) is a really rotten social order. But on another level I almost feel sorry for those who were born into the royal family. It’s akin to being born into a jail. The cage is public scrutiny and there is no escape. It is a life sentence.

So I have no desire to try and make their miserable lives even worse through public protest against a young couple hitching the knot (although I’ve never cared for marriage myself but that’s an issue for another post in the future).

royal wedding in walesIf it is being held in Wales we should get busy at making souvenirs to sell to the masses of silly English who will flock to the occasion. When it’s over they’ll take home their Made in Wales royal wedding t-shirts, hats,tea towels,plates,etc. and we’ll be left with our pockets stuffed full of English pounds and a smile on our face :D.

A royal wedding isn’t something to love or hate. It’s certainly not something to be taken too seriously. Only the mentally deficient get wrapped up in royal soap operas. Don’t you be one of the bumpkins either adoring or decrying the event.

So to sum up, just ignore it. Paying it attention, either negative or positive, just feeds it.

Wales is on the road (slowly but surely) to regain its rightful independence. And it really doesn’t matter two hoots whether England remains socially retarded cringing and bowing before their ‘superiors’, or if they become once again a Republic, as it was in the 1650’s.

Wales is not England and England is not Wales.

Why Wales deserves (needs) Independence – part 2

It is an inevitable fact in democracies, indeed all forms of governance, that:

the further away the decision makers are from the people who are effected by those decisions, the worse the governance.

This principle holds true regardless of time, place, or nation.

In a UK context it means that the Celtic nations, and possibly north and west England, are institutionally mismanaged.

Real democracy is participatory democracy – where the decision-making power is spread out involving those who are effected by the decisions being made. Another name for the process is subsidiarity – “an organizing principle that matters ought to be handled by the smallest, lowest or least centralized competent authority”.

The “competent authority” in a democracy is you … and me … all of us.

Of course this runs counter to groveling British society where people are brought up to believe in their inferiority and incompetence, always doffing their cap to the “authorities” crachach.

For the Welsh people to be truly free we must cast of these mental shackles of subservience that have been so cunningly crafted for us by the ruling classes for centuries. We must wake up and empower ourselves to take back the control of our lives and our nation.

Welsh Independence will take a lot more than a wholesale shift in powers from London to Cardiff. It will take a shift in general attitude and outlook.

Let’s start that shift today. Stop winning and take responsibility for your situation. Bow to no one for in the greater reality we are all equals.

The Welsh Republic must be founded on the principles of equality for all citizens. It is that principle that gives it Republican credentials – a far cry from a pathetic monarchy based on inequality by birth and association.