(The gov't bank should be ring fenced from dealing with other banks, investors and investments other than between private house mortgages and gov't requirements. It should be made law that the bank must remain 100% publicly owned and the bank hierarchy should be elected by the public from a selection of professionals who are in turn nominated by perhaps independent universities. To get nominations from inside the industry is to give the control of the bank to the bank sharks.)
(The euro was money created out of thin air, a comparative is carbon credits. It has only the value the market or legislation gives it. Banks can be created on a whim (Rothschilds are masters of this, GEB, ECB, WB, IMF and soon the GIB and so on) and countries, probably "levered" by their (Rothschild) central bank rush to stake (finance) them when in fact it is their inventors that need be staked (wood peg and mallet).
Why on Earth does there need to be a green investment bank? Why not a simple green investment account in an established English bank? Exactly the same funding and payout regime can be applied to an account as a bank. It is just another scam. Especially considering that there is already the Rothschild created global environment bank.
The following gives a more detailed account of how the 12 banks of the Rothschild octopus work their puppets (politicians, media) to create mechanisms where money doesn't just grow out of thin air, banks are paid interest on it as it is created. Inflation can be likened to a loaf of bread where the baker reduces its size by 5% a year. Eventually you need 2 loaves to get the same nutrition. But gold bought the same amount of oil in the 50s as it does today. Inflation is an illusion created by banks and politicians the one for profit the other uses the invented money to buy votes. The public pays.
DEFICIT TERRORISTS STRIKE IN BRITAIN -- USA NEXT?
By Ellen Brown 18th June
Excerpt from page 1 (of 2 pages)
Last week, Britain's new government said it would abandon the previous government's stimulus program and introduce the austerity measures required to pay down its estimated $1 trillion in debts. That means cutting public spending, laying off workers, reducing consumption, and increasing unemployment and bankruptcies. It also means shrinking the money supply, since virtually all "money" today originates as loans or debt. Reducing the outstanding debt will reduce the amount of money available to pay workers and buy goods, precipitating depression and further economic pain.
The financial sector has sometimes been accused of shrinking the money supply intentionally, in order to increase the demand for its own products. Bankers are in the debt business, and if governments are allowed to create enough money to keep themselves and their constituents out of debt, lenders will be out of business. The central banks charged with maintaining the banking business therefore insist on a "stable currency" at all costs, even if it means slashing services, laying off workers, and soaring debt and interest burdens. For the financial business to continue to boom, governments must not be allowed to create money themselves, either by printing it outright or by borrowing it into existence from their own government-owned banks.
Today this financial goal has largely been achieved. In most countries, 95% or more of the money supply is created by banks as loans (or "credit"). The small portion issued by the government is usually created just to replace lost or worn out bills or coins, not to fund new government programs. Early in the twentieth century, about 30% of the British currency was issued by the government as pounds sterling or coins, versus only about 3% today. In the U.S., only coins are now issued by the government. Dollar bills (Federal Reserve Notes) are issued by the Federal Reserve, which is privately owned by a consortium of banks.
Banks advance the principal but not the interest necessary to pay off their loans; and since bank loans are now virtually the only source of new money in the economy, the interest can only come from additional debt. For the banks, that means business continues to boom; while for the rest of the economy, it means cutbacks, belt-tightening and austerity. Since more must always be paid back than was advanced as credit, however, the system is inherently unstable. When the debt bubble becomes too large to be sustained, a recession or depression is precipitated, wiping out a major portion of the debt and allowing the whole process to begin again. This is called the "business cycle," and it causes markets to vacillate wildly, allowing the monied interests that triggered the cycle to pick up real estate and other assets very cheaply on the down-swing.
The financial sector, which controls the money supply and can easily capture the media, cajoles the populace into compliance by selling its agenda as a "balanced budget," "fiscal responsibility," and saving future generations from a massive debt burden by suffering austerity measures now. Bill Mitchell, Professor of Economics at the University of New Castle in Australia, calls this "deficit terrorism." Bank-created debt becomes more important than schools, medical care or infrastructure. Rather than "providing for the general welfare," the purpose of government becomes to maintain the value of the investments of the government's creditors.
Continues with Britain Dons the Hair Shirt
“I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance. The issuing power should be taken from banks, and restored to the people.”
The moral of the story is; give a banker an inch and she'll (he'll) bleed you dry. The UK government must be pressured into taking the printing of promissory notes back under public representatives' control preferably via a 100% publicly owned bank with accounts open to public view. And to back issuance and that in circulation with gold.
Significant news items via junkscience.com
Rising Sea Drives Panama Islanders To Mainland
Rising seas from global warming, coming after years of coral reef destruction, are forcing thousands of indigenous Panamanians to leave their ancestral homes on low-lying Caribbean islands. (Reuters)
First rig sails away over drilling ban
Eco Taxes To Make Bills Rise By £550
[Eco fascist Obama's genius, the Soros/Strong/Gore/Rothschild methodology to generate private profit create jobs and end dependence on imported fuel. Think in terms of oil and green energy share prices]
British Gas boss announces brilliant new scheme to make Britain even more expensive and ugly
Britain at risk of energy crisis, engineers warn
Response to John Abraham
Written by Christopher Monckton
Hot in Europe – Cold in South America
In comments Boudu says:
July 12, 2010 at 10:40 am
The ancients had a word for the effects you are describing: weather.
Who knew that it might be hot in summer while at the same time being cold in the antipodean winter?
Remember the languid summers of global warming way back when? Long and warm with short wet winters, symptomatic of warming. Now we have lengthening bleak winters and turbulent shortening summers. Guess what that is symptomatic of.
Addendum - Ellen has done another post following on from the one above: