.
you're right it would be short sighted to blame Brown, that's why I didn't, I blamed the people who benefited from the deregulation. Brown was merely the stooge who happened to be in power to pass the bill they needed.

your original post I was responding to:
"Funny how the US had a problem with toxic debt at the same time, innit?
Must be coincidence."


I took it that your point being how can the deregulation caused by a central bank in England cause the toxic debt crisis in the US, by coinicidence as you put it.

I'll elaborate on my previous answer so I apologise in advance if this post gets a bit lenghty, its a complex issue and to be fair I probably explained it badly in my previous post

ok, to summarise: why does Brown passing the 98 B of E (Bank of England) act = giving the B of E court of directors complete automony = allowing deregulation of the banking industry = toxic debt in the US ?

and how is the Bof E linked to the US banking system?

the London banking houses ultimately control the Federal Reserve Banks through their stockholdings of bank stock and their subsidiary firms in New York. The two principal Rothschild representatives in New York, J. P. Morgan Co., and Kuhn,Loeb & Co. were the firms which set up the Jekyll Island Conference at which the Federal Reserve Act was drafted, who directed the subsequent successful campaign to have the plan enacted into law by Congress, and who purchased the controlling amounts of stock in the Federal Reserve Bank of New York in 1914

The 1998 Act passed by Brown gave full automony to the court of directors at the B of E. The shareholders are the ones protected when the Bank of england nominees ltd was set up in 1977(BOEN).

It was after this deregulation that the toxic debt bundling began through their control of the banking structure in the US. They controlled and managed the areana in which the chaotic greed and selling was taking place. It's not rocket science to know that if you deregulate the industry every shark trying to make a quick buck would flood tthe system until it collapsed and needed to be rescued.

Party politics is irrelevant and superficial to this.

The B of E was granted an exemption by the Minister of State for Trade from the disclosure requirements under Section 27(9) of the Companies Act 1976 ,as:
“it was considered undesirable that the disclosure requirements should apply to certain categories of shareholders”.

So on the one hand, the British taxpayer underwrites the liabilities of the Bank and on the other (BOEN) can share in the profits, with no risk. Yet we aren't allowed to know who the beneficiary(s) of (BOEN) are

These banking families are the ones that deregulated the industry and have the most to gain form the debt crisis.

As it leads to bank centralisation and loan management on an exagerated and extremely profitable scale. If you look at the writings of the leading economists of the time and even the writings of John Maynard Keynes when the IMF was set up you'll see they wrote about the IMF's second phase taking over soveriegn debt. The whole setting up of the structure of the IMF was set up for this very purpose. just all Coincidence, as you put it?

*the first phase was the management of the structure of the debt based consumerist system, to be followed by the second phase the taking on by the IMF of sovereign debt and with it the financial management of each individual trading block and country. All engineered and written about 60 odd years ago.

"... we conclude that the [Federal] Reserve Banks are not federal ...
but are independent privately owned and locally controlled corporations...without day to day direction from the federal government " 9th Circuit Court, June 24, 1982

"The financial system has been turned over to the Federal Reserve Board. That Board as ministers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money" -- Charles A. Lindbergh Sr., 1923

"We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it". — Congressman Louis T. McFadden in 1932 (Rep. Pa)
(Dagwood, Fri 17 Dec 2010, 19:59, 2 replies)

Why doesn't that surprise me
I had this explained to me by a friend who works in 'The Square Mile' last year.

Apparently they did the same thing just before the great depression to buy up the smaller banks. He suggested if I had any savings I buy gold as they are willfully crashing the economy to allow the introduction of the huge rescue packages.

The price of a sovereign back then was around £180 from those pawn shops which was £180 more than I had spare at that time. I think he bought about 5 grands worth. 20 odd full sovereigns and 19 half sovereigns. He bought them back in March this year. He tells me each month how much Gold is increasing in value and each month I try to resist the urge to slap him.

Last time I checked those £180 sovs are now £220
(Miss B3thpot, Sat 18 Dec 2010, 22:30, closed)

Oh man
You were doing pretty well until you quoted Lindbergh and McFadden. You do realise that both those people were batshit mentalist anti-semites, don't you? That McFadden accused Wall Street of funding the Russian Revolution and Lindbergh was firmly on the side of the Nazis?
( wotofco pissing in your swimming pool, Sun 19 Dec 2010, 16:33, closed)