Godfrey Bloom – Money Printing Scam At Taxpayer Expense
The Accurate Source To Find Transcript To Godfrey Bloom – Money Printing Scam At Taxpayer Expense.”
[Godfrey Bloom – Money Printing Scam At Taxpayer Expense]
Strasbourg, 16 April 2013
Capital and prudential requirements for credit institutions and investment firms.
[Godfrey William Bloom TD (22 November 1949)] Source: LYBIO.net
Well, thank you Mr. President. I think what we’re doing here is a triumph, is it not, of hope over experience. This – you are talking about things which aren’t the problem. The problem that we have is a flawed banking system. A fractional reserve banking system, where bankers can lend money that they don’t have. And if you go back in time to the United States – the 1850s, that was a capital offence, you could hang for that.
Now we have this extraordinary situation where we’ve had regulation, lots of regulation it’s been the wrong sort of regulation, hasn’t it? And so we had another disaster. And none of this is actually going to save us from another disaster down the line. It’s bound to happen because we haven’t addressed the real problems. And that is your fractional reserve banking system. We must have a commodity bank on the one hand and investment bank on the other hand.
So Commissioner you talk about banks ability to withstand shocks. Well, by this definition – by your definition of shock is people turning up wanting their money back. You know, that’s not a shock, that’s what sorta should be a day to day occurrence, and should be dealt with accordingly. And we are talking about bankers’ bonuses. An absolutely wonderful way of taking everybody’s eyes off the ball. What we’ve actually had here is criminal activity by bankers, and not a single banker has been sent to prison. This is extraordinary. Billions of pounds have been taken away from taxpayers, taken away from depositors, bond holders, and yet not a single banker is in jail. This is a disgrace. This is a disgrace. We really have to use the law of the land, not so much regulation.
[Godfrey Bloom] Source: LYBIO.net
And printing money and central banks are equally culpable, make no mistake. I’d like to see some central bankers in prison. And I call quantitative easing counterfeiting. Printing money is counterfeit. It’s illegal if a private citizen did it. They would go to jail. So let’s look into our own hearts. The very unpleasant arrangements that politicians, bureaucrats, and central bankers have between themselves at the expense of the taxpayer. Let’s end this and let’s end it now.
Godfrey Bloom – Money Printing Scam At Taxpayer Expense. I’d like to see some central bankers in prison. Complete Full Transcript, Dialogue, Remarks, Saying, Quotes, Words And Text.