Thursday, October 16, 2008

How?

Now basically, this government, without consulting anybody, without asking Parliament for consent, has started throwing billions of pounds of tax payers money into banks to save the economy. How does robbing the poor to bail out the banks help the economy. I fail to understand this at all. Surely they should just let the banks go under?

The taxpayer commitments, from around the world, to prop up the global banking system amount to $2.2 trillion, an unimaginable sum. For less than half this figure, $1 trillion, all the outstanding debt still owed by developing nations could be repaid in full. The other half would pay off the personal debts of everyone else in full.

That means starting again, nobody owes anything, no mortgages, banks loans or credit card bills to pay. The economy would boom. People would have real money to spend again not paper money. The poor would immediately become far better off, the rich would become poorer. How is this a bad thing? There are far more poor people in the world than there are rich people. Far more people would benefit than would lose.

We wouldn't have to give aid to third world countries anymore or operate trade agreements that mean no matter how hard they work they can't get the right price for their produce. Their governments wouldn't be paying fortunes in interest so they could give their people clean water to drink, health care etc.

Saving the banks keeps the top earners of the world in their mansions at the expense of the poor. Letting the banks collapse would bring these people down into the real world and give the poor a say in what goes on. And at the moment all the power is in the hands of the rich and they don't want to let it go.

Using tax payers money to bail out banks is nothing more than theft, Theft of our money, theft of our rights and theft of our future. The fact that it is a Labour Government that is kicking us when we are down and stopping us from getting out of poverty comes as no suprise to me at all.

If you vote Labour you are scum, and you know you are, you are just too selfish to care.

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