President of UK PLC, sorry new Canadian Governor of the Bank of England has laid down his first dictum to control and squeeze us, in line with the wishes of his globalist masters, in his first presidential address.
Mr Carney, has decreed that interest rates will remain low until unemployment falls to below 7 %. Now the Globalists have officially taken control of the Bank of England, along with the Federal Reserve, the bankers are now openly dictating economic policy for the UK.
Now call me an old cynic, but I remember the good old days when the Government steered the economy, but since the “Trojan Horse” new labour government allowed the bankers to totally take over the UK, we are already just part of the Globalist run “New World Order” with a puppet government in place to placate us and divert our attention from what is really happening. Gordon “bigoted woman” Brown, apart from almost giving away half of the UK’s gold reserve, handed over power to set interest rates to the very people who will profit most.
So what does low interest rates really mean? Well, it’s worth pointing out that the low interest rates only really affects savers. Whereas a few years ago it was normal to get 6 or 7% for normal savings, you now get 0.5%. So, who wins, the bankers of course. You give then £1000, they pay you £5 instead of £70 per year. Using that wonderful trick of fractional reserve lending, they can lend £10,000 on the strength of your £1000, and then charge whatever interest they decide, but it certainly won’t be 0.5%. So lets say they charge 5% on the £10,000 for 1 year.
Remember, you gave them £1000, which will cost them £5. They lend £10,000, of which £9,000 is made up out of thin air, they make £500 in interest, plus they get back £10,000 making a total of £10,500. You take back your £1000, they pay you £5 in interest, and earn £9495.
Yes, they have created £9495, and it’s cost them £5. No wonder Fred Carney wants to keep interest rates low. (did I really type Fred Carney, oops, bit of a Freudian slip.
It is fair to point out that that is a deliberately simplistic example of banking. It is in truth far more complex, and their ability create wealth out of your suffering is without limits. Money is in fact nothing more than debt. A bank note is only a promissory note to pay something that doesn’t exist.