@ Simon Hughes
Lib Dem MP
Is this how it happened?
A couple of years ago the G8 conference discussed the financial state of their part of the world and found that each one of them were paying out more in benefits and government... Show more »Is this how it happened?
A couple of years ago the G8 conference discussed the financial state of their part of the world and found that each one of them were paying out more in benefits and government expenses than they were receiving in taxes.
Further conferences with the members of the G20 nations revealed that the majority were in the same position and needed to take some action, but what?
A committee was set and investigations were carried out. Three options were discussed
1: Revalue the currencies, temporary solution at best.
2: Raise taxes, again only a temporary solution.
3: Cut benefits, very unpopular with the people.
Then America came up with the thought that some of their banks had leant money to individuals to buy houses at exorbitant interest rates, knowing that they could not pay back the loans. Some of those loans were sold on to other nations banks as a good investment, the interest rates being higher than they could raise elsewhere. As several nations were involved a crisis could be created and some banks and building societies could be forced to go under. This would then be used to create a system where governments could look to decrease for ever the percentage of GNP that is used to pay benefits etc.
I am sure there are far more intelligent people out there than I am who could explain this situation, but I do feel that it has been manufactured deliberately.
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