Financial trickery

Image via WikipediaI did not know whether to be laugh or cry when I heard of all the excuses for the severe cuts we have to suffer in the next few years, as I have heard it all before in one format or another.

The coalition government have decided to square off our debts incurred by bailing out the banks in record time regardless of whether the poorest suffer or not. Their reasoning behind this scheme is to give the up and coming generation a better chance to get ahead without heavy debts hanging over them.

I am all in favour of that plan, but am not fooled by anything a politician says, as my generation was promised to be looked after in our old age when we were paying heavy taxes most of our working lives to square off the debts left behind by the second world war,(one of the excuses then) and now we find we have to suffer once again to pay off debts construed by the financial wizards who want the economy to work in their favour.

Tax upon tax was piled on to my generation as continuing governments tried to get as much of our wages as they could without too much objection, and always with some excuse like a deficit that is always inherited from the previous government, never caused by the one in power no matter how many years apart their terms in power were.

Every time the public thinks they have paid enough, and things are on the up, the powers that be come up with some disaster to prevent the poorer of the nation bettering themselves in any way, but always ensure that their prowess is never halted.

This time when public spending was rising too fast,and things looked promising, the situation did not suit the financial wizards so they construed a collapse of the banking system as an excuse to fleece us of more money, and get us to accept it because they said there is no other way out.

Banks suddenly collapsing that were accused of monopolizing in the years previous to the construed collapse. Money suddenly disappeared from a healthy economy to where?
Bad debts are no answer as we are hounded to pay off any bad debts in our world.

Money was scavenged from our accumulated taxes to bail out the banks, and when that wasn't enough to satisfy the financial world, more money appeared out of somewhere to land us in supposed deeper debt.

If the money came from an international fund that all countries contributed to, why do we have to pay so much interest on borrowing money from our own fund?
Most countries are in the same predicament so why not just pay back the money we took out of the fund that we are probably still making new contributions to, allowing the economy to recover quicker with less burden on the taxpayer?
Why if it was a loan to bail out the banks, did they not borrow the money instead of the taxpayer, and why if it was a loan, is it not being paid back in monthly installments like we have to if we borrow?

The situation as it is all adds up to a rip off, but we as a people have had enough of being ripped off.

This time the public are no fools and realize how dishonest politicians are, and if they push us too far we will push back.
The french are already protesting, as are other European countries, so if the powers that be think that the public are going to fall for their con this time they have another think coming, and will have more than a construed deficit to contend with.

Promises made to my generation of a well earned rest with less money worries in retirement was taken away when the last government raided and ruined our private pension schemes, funds they encouraged us to save to provide US with extra money in our old age NOT to provide THEM with more money by robbing the very funds they suggested we accumulate, also by failing to keep any of the other promises that were made to us while we cleared off the country's debt, or accrued money for them to pocket as was the case.

The up and coming generation should know by now that even if this supposed debt we are in is cleared off, their future will be no brighter than ours, as another collapse or disaster will be construed to satisfy the powers that be.
When I speak of the powers that be, I do not mean the political puppets we elect, I mean the money men of this world who really run the countries and financial situations around the globe, the same financial wizards whose power even the political puppets fall under whether they realize it or not.

Whatever, we the new pensioners of the world, in our lifetime, are having to cough up to pay for debts from wars, and now have to suffer in our retirement to pay once more for the rich to get richer.

I might be too old to join the revolution but I am not too old to support it.

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The economic recovery.

Image by elycefeliz via Flickr

I find it very annoying to say the least when I listen to the plans the budding parties have for our economic recovery.
All three of the main parties agree that the credit crunch has left us with billions of pounds deficit in the economy, and that WE the taxpayers will have to pay extra taxes to recover the money (plus interest) on the loans.
WE have to pay extra taxes to recover OUR money that THEY loaned to the banks with no mention of the banks repaying any of the loans, or any allowances made in the economic recovery for any such money forthcoming.

It seems to me that we loaned the money, and we have to pay back the money to ourselves, (plus interest) while the banks get off Scot free, and the bankers walk away with large bonuses every year.

FOR WHAT?

Conning us out of billions of pounds they managed to evaporate into thin air.

I wonder how my bank manager would respond if I asked for a loan, suggesting the same repayment method, which would be, having them repay the loan, "to me" that I received. (With interest of course.)

Somehow or other I think I would be shown the door, which makes me ask the question.
Why are WE lumbered with the debts THEY owe us?

We the taxpayer managed to accrue the billions of pounds that was loaned to the banks, albeit while being heavily taxed, but why do we need to have EXTRA taxes added on to accumulate this money again when we managed to save the billions without these extra taxes.

The government borrowed money over and above the money the taxpayers were forced to donate.

Where did this money come from when the credit crunch is supposed to be a world wide crises?
Who are we paying these loans to with the added interest?

I thought "MONOPOLY" was a board game, but it seems to me that the governments of this world are playing it on a world wide scale, using imaginary money that can be won or lost with the only losers being the taxpayers.

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Banks debt, taxpayers burden.

Image by Getty Images via Daylife

Once again we have the Tory and the labour parties competing to see who can con the most out of the taxpayers without it causing too much of an uproar, and to win votes, to try and clear the debt left behind by the bank bailout.
The problem I have with this is, none of them are allowing for any repayments, by the banks on the money that was classed as a LOAN!
All the calculations seem to circulate around the fact that the money given to the banks is not expected to be paid back, and is not included in any budgets in the foreseeable future, making the taxpayer liable for all the debts incurred by the banks.
The bankers are already planning on how to spend their outrageous bonuses, before any of the debt has been paid back, while we the taxpayers are awaiting the outcome of how hard our pockets are going to be hit, and for how long.
If the money owed is eventually paid back in anything up to thirty years, what happens to the money fleeced from the public, will we, or our offspring (as most of us will be dead by then) receive any bonuses from the money amassed, or will it just go into the coffers to bail the banks out in the next crisis, or be added to the bankers bonuses that will have escalated to an even more disgusting amount by then?

Over paid bankers rear their ugly heads again.

Image by Getty Images via Daylife

It had been announced today that the banks HSBC, and Barclays have made profits of around three billion each, and already there is talk of outrageous bonus payouts.
These banks were bailed out by the taxpayer, putting the economy in the disastrous state it is now in, leading to years of recession before it recovers, leaving each and every one of us much poorer, thanks to the bankers irresponsibility.
The billions borrowed is "DEBT" owed to the taxpayer, and until it is paid, the banks HAVE no profit, as debts should be paid off before their bankruptcy is lifted,and they become a solvent business in their own right again.
Bankruptcy being the correct word, the word, the same banks use against members of the public who go out of business by loosing their assets.
Before any bonuses should be considered, the bankers should have to prove that there is a steady enough growth to warrant them, but most importantly pay off all debts first.
Why should the very people who put us into this mess in the first place, reap any benefits before we do?

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