THE TIMES IS LIVID ABOUT NR NATIONALISATION

The Times, one of, if not, the main warmongers and bankers' tools, is livid about the nationalisation of Northern Rock.

Anatole Koletsky has written a comment on this scandal, at
http://www.timesonline.co.uk/tol/comment/columnists/anatole_kaletsky/article3386753.ece


Koletsky writes;

The purpose of nationalisation should not have been to continue “business as usual”, with Northern Rock continuing to lend more money and attract retail deposits, with the backing of Treasury guarantees. The purpose should have been to secure £100 billion of taxpayers' money and to prevent any further damage to the British financial system.

...He [Darling] should have announced that Northern Rock would be nationalised not to keep it in business, but to close it down; that the bank would stop lending new money or accepting new deposits as of tomorrow; that all the company's retail deposits would be shifted immediately to the National Savings system, while all the wholesale bonds would be replaced with Government gilts. The company would then be put into run-off, with the Treasury recouping its money gradually as existing borrowers repaid their mortgages over the years.

Note how Koletsky is totally against the idea of the government lending money to private individuals! Also note the use of the phrase 'new money'. What does Koletsky mean by this? I believe it is a reference to the practice of fractional reserve banking.

Perhaps with this new bank the government could begin to lend money to itself, and eventually not have any debt to the bankers! Is this why they are so terrified and scared at Darling's decision?

Oh, yes!

That is the purpose of the system...so far. To have us, the general public in some form of debt slavery to a small cabal of bankers, when we could very easily be creating the money ourselves via a new national bank. Darling has taken us a step closer to financial freedom from the warmongering bankers.

Presidents of the USA have been assassinated for less. I don't expect Darling to be assassinated, but Brown and he will be under tremendous pressure to change the business practice and charter of the bank so that it does not
1. create new money
2. create too much competition for the other banks.

Things are going to get very, very interesting.

Who will be appointed to the board, and why? What will be their charter?