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Debt Crisis was Created by Politicians and Central Bankers

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Well, I'm a baby boomer, I was born just after the war. We've probably had the longest period of peace and prosperity globally I would say from that time. I've put a little bit of modest money away so I can hand something down to my family when I pass on. Largely becaue I've never spent more money than I've earnt. And I've been prudent and I've worked moderately hard. Now it always seems as - to me - as a complete surprise to politicians how countries get in debt. Let me explain because I don't think you really understand it. It's because politicians consistently spend more money than they raise in taxation. More money than they can possibly raise in taxation. Most of which in point of fact they actually waste. The reason we are talking about countries, which are broke - and they are broke - is because their ridiculous, ineffective, ignorant politicians consistently spend more money than they can raise. And then they borrow. And they borrow. And worse, they then print money because politicians and their central banks have a machine, which prints money. You do that as a private citizen and it's a criminal offence. You would go to prison for doing that. And politicians and their central banks do it all the time. Let me explain to you that these countries are broke. And they're broke because of their own stupid leadership and politicans. And it's immoral. Immoral to ask ordinary taxpayers of any country to pick up the tab for failed politicians and failed banks. They are defaulted. They're broke. For God's sake let's all of us admit it. Mr. Bloom, yes, well, thank you very much. And Mr. Goebbles is brandishing his Blue Card. You've said the question. Mr. Goebbles, thirty seconds. President, I'd like to know if Mr. Bloom knows that Spain is less in debt than the UK. That Ireland was at sixty percent before the banking crisis. And that Ireland in going to debt to save its banks saved the money of the British banks. Absolutely right. Absolutely right. I wasn't suggesting my politicians were any less stupid than anybody else. It's an absolute disgrace. And it wasn't even debated in our national parliament to actually rescue these bust banks. If you want to invest in bust banks, do so with your own money. Not money from my old age pensioners in Yorkshire on 98 quid a week you scoundrels.

Video Details

Duration: 3 minutes and 11 seconds
Country: France
Language: English
Genre: None
Director: http://www.youtube.com/watch?v=cwRcWzVPji8&feature=youtu.be
Views: 302
Posted by: mmister on May 14, 2011

Debt Crisis was Created by Politicians and Central Bankers - Godfrey Bloom MEP - ukip

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