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« Farming, globalization and fair St Boswells | Main | Give them candy: local people want to reclaim Greenock's historic sugar sheds »

July 16, 2011

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Confirmation of the USA bailing out British based banks.

The Fed’s Secret Liquidity Lifelines

This is interesting.

http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

Among the investigation's key findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report.

Trying to land Scotland with 100% of the debt accrued by HBOS (why is that abbreviation avoided now by the unionists in favour of "Bank of Scotland"?) and RBS is a bit like saying that all the profits from the sale of Swiss Rolls throughout the world should become the property of Switzerland.

Nothing to say about News Corp/NI yet?

F A Hayak
I note you do not address the actual subject of Joan's piece. This is a classic but easily identified diversionary tactic of avoiding a debate when you know the other side is substantially correct.

Is it or is it not the actual fact that we are being continually lied to about the "bailout".

As a matter of interest neither Alistair Darling nor Gordon Brown had any training in economics and the UK economy is actually in a worse condition than the economies of Ireland or Iceland but fortunately UK has "British " oil to provide collateral on the huge borrowings which have been received to keep the economy afloat.

You keep on carping about Alasdair Darling's economic mismanagement like a derranged banshee. It all falls apart because your party did not just think Labour's economic management was correct but that they didn't go far enough. "If we were in charge we would be more like Ireland" you said. You don't talk about that anymore, yet you don't waste breath in attacking a man who took office in 2007. Long before the seeds of the recession were sown. To blame him for everything only shines a light on your lack of understanding when it comes to economics. The primary fault from where the recession spread was from low interest rates. In case you don't already know, interest rates do not fall under the chancellors responsabilities. No. They are the preserve of the Governor of the Bank of England. Now I seem to remember your parties position is to either keep the pound or join the Euro. So you will not have control of interest rates. Your "independence" is a sham as all you want to do is take the powers and give them away to brussels anyway.

Hi Joan - the Unionist 'cause' - if there actually is one articulated - is getting evermore desperate.

The other big scandal we really have to keep a constant check on is the upcoming grab of Scotlands assets by London, up to the referendum. We need a 'watch community'. This will not always be obvious and will be done by stealth. Lets protect the family jewels and keep our share of UK assets. This includes the public ownership of the banks of course...

DH

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