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IPFS News Link • Central Banks/Banking

Godfrey Bloom MEP Blasts Central banks

• Godfrey Bloom

Posted on Steem the paid Social networking site! Not that I admire politicians, there are a few good ones like Karen Johnson, who exposed the 911 conspiracy to the Arizona Senate and Ron Paul the long time opponent of the federal reserve. There was a Member of the European Parliament who also speaks the truth Godfrey Bloom!  Click on link for the video!

It is my opinion that you do not really understand the the concept of Banking. All the banks are broke. The Bank of Santander, Deutsche Bank The Royal Bank of Scotland they are all BROKE! Why are they broke, it isn't some act of God, it isnt some kind of tsunami.

They are broke because they use a system called fractional reserve banking. Which means the banks can loan money they don't actually have. It's a Criminal scandal and its been going on for too long. To add to that problem, you have a moral hazard, a very significant moral hazard from the political sphere. Most of the problem starts in politics and central bankingwhich are part of the same political system.

We have counterfeiting sometimes called quantitative easing, but counterfeiting by any other name, the artificial printing of money if which any ordinary person did it they would go to prison for a very long time. Yet Governments and central banks do it all the time.

Central Banks repress interest rates so we don't have the real cost of money. And yet we blame the retail banks for Manipulating LIBOR. The sheer effrontery is quite astonishing. Its central banks! It's central banks that manipulate the interest rates commissioner!

And plus underneath all this, we talk rather loosely in a rather caviler fashion do we not about deposit guarantee. So when banks go broke through their own incompetence and chicanery the taxpayer pick up the tab! It's theft from the taxpayer!

And until we start sending bankers and I include central bankers and politicians to prison for this outrage, IT WILL CONTINUE!

•European Parliament, Strasbourg, 21 May 2013

• Speaker: Godfrey Bloom MEP, UKIP (Yorkshire & Lincolnshire), Europe of Freedom and Democracy (EFD) group - http://www.godfreybloommep.co.uk

• Joint Debate: Banking union - single supervisory mechanism

1. Specific tasks for the European Central Bank concerning policies relating to the prudential supervision of credit institutions
Report: Marianne Thyssen (A7-0392/2012)
- Report on the proposal for a Council regulation conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions
[COM(2012)0511 - - 2012/0242(CNS)]
Committee on Economic and Monetary Affairs

2. European Banking Authority and prudential supervision of credit institutions
Report: Sven Giegold (A7-0393/2012)
- Report on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1093/2010 establishing a European Supervisory Authority (European Banking Authority) as regards its interaction with Council Regulation (EU) No.../... conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions
[COM(2012)0512 - C7-0289/2012 - 2012/0244(COD)]
Committee on Economic and Monetary Affairs

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• Video: EbS (European Parliament)
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• EU Member States:
Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Germany, Denmark, Estonia, Spain, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Sweden, United Kingdom

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