A View From Middle England - Conservative with a slight libertarian touch - For Christian charity and traditional belief - Free Enterprise NOT Covert Corporatism

Tuesday, October 26, 2010

To whom do we pay the deficit?

The government is pressing on with reducing the deficit and I have no qualms or quibbles with this. However, it would be nice to know where all the money is going. It seems that when one enters the counting houses of billionaires, no questions need be asked. A billion pounds off this quango and a billion pounds off that state department. Good, but where does all the dosh go? Who will be getting it? Transparency is thin on the ground at the moment.

Last week, Matthew Wright had as a panellist that gruff Mancunian Terry Christian. In a moment of "hang on a tick", Christian asked Wright about the deficit payments. Matthew had no clue other than waffle. Then a day or two later, Christian asked the same question. Wright appeared to have been given a brief of sorts, but the answer was pretty vague and vapid. None the wiser.

Robert Preston hasn't helped much either. He never talks about it, which is a pity, as the BBC could do us all a favour. We are still in this triangle of quantative easing, fractional reserve banking and deficit reduction. Nobody gives us any balance sheets, tells us who owes what to whoever, and the merry-go-round still pumps out the same rickety tune. "We're all in this together". Yeah, OK, but in what exactly?

If you Google "To whom do we owe the national debt" it appears that the search engine to beat all search engines gets chronic amnesia. I've seen a bit about a guy who is seeking a Freedom of Information answer and a couple of weird answers on Yahoo Groups.

Come on George Osborne! Let's have a fact sheet with the pithy points laid out. Surely we should know who Paul is before we rob Peter?


I suspect we owe most of it to the banks, who of course made up what they lend us with fractional reserve banking. It's just a way of redistributing wealth from the poor to the rich. It's a stick to beat us with, there's no need for it. Read the Money Bomb by John Gibb Stuart, Ossian Press I beileve. He used the freedom of info act to find out the Tories under Thatcher reduced the ND by unmaking it. It only exists technically and it can be removed technically. It's a scam started by George Downing in the 1600s.

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