British Banksters Admit to Making Savers Poorer and the Rich, Richer!*

British Banksters Admit to Making Savers Poorer and the Rich, Richer!*


Conspiracy theorists focused on London 2012 Olympics riddled with occult symbolism, may have been looking so hard for the plot, that they might have missed out on what was right in front of there very eyes. While we laughed at the bad organization that led to a desolate London during Rothschild’s Olympics, and hence a big financial loss to the capital, the plot itself may have been how to carry out an operation in the eye of the glaring public. The U.S. has gone boldly, controling all media, and placing the U.S. under what is affectively martial law for the many, as the the money and resources become increasingly concentrated in the hands of a few.  In the U.K. that operation that was publicly seen as bad planning, may have been the plan itself, the militarization of London (the Olympics) in a capital which is the largest money laundering center of the world, and one of the 5 safe havens of the world for the global elite!

By Hugo Duncan

Even in recession the rich get richer: Savers have been hit for £70bn as printing money ‘helps rich’ admits Bank of England

Record low interest rates have robbed savers of more than £70billion while printing money to revive the economy has mainly benefited the rich, the Bank of England admitted yesterday.

Interest rates have been pegged at 0.5% since March 2009 – the lowest level in the Bank’s 318-year history – in an attempt to prop up the economy.

Borrowers have benefited to the tune of £100billion thanks to lower mortgage payments, with those on floating rates the main beneficiaries.

The Bank has also unleashed a £375billion money-creation programme through so-called quantitative easing (QE) as it struggles to kick-start a recovery.

But critics have long claimed that ultra-low interest rates have hammered Britain’s army of savers and the decision to print money has led to a ‘death spiral’ in pensions by slashing annuity rates.

Savers have lost out heavily since rates were cut from 5 per cent in September 2008, with some claiming the loss is nearer £100billion when inflation is taken into account.

The Bank yesterday admitted that savers were among the biggest losers from its policies and the richest families the biggest winners – with QE boosting household wealth ‘by just over £600billion’ as the value of shares and other assets recovered in the wake of the financial crisis.

Governor Sir Mervyn King insists that people in the United Kingdom would have been worse off had the Bank not acted

That is an average of £10,000 for every man, woman and child in the country although the 22-page report into the impact of QE said the most well-off will have benefited the most because they hold the most assets.

Independent analysis suggested that each of the richest 2.5million households in the country has enjoyed a windfall of anywhere between £100,000 and £300,000 since QE was launched in March 2009.

Campaign group Save Our Savers said there has been ‘a massive transfer of wealth from the poor to the very wealthy and from savers to borrowers’, due to the Bank’s policies. Read on >>>

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