Signature Coins & Bullion

If a 12 year old can articulate what is wrong with the monetary system, there is hope. Spread page to your friends, children, grandchildren, even grandparents.

Dim lights Embed Embed this video on your site

The Spectator magazine has highlighted the “denial”, or as they pout it “lies” that Prime Minister David Cameron is telling.

As we noted earlier:

Unless.... Just, unless, the entire world is in a race to inflate this debt overhang away. I mean, what on earth is going on with this, from the Office of National Statistics:

public sector net debt at the end of March 2012 was £1022.5 billion (66.0 per cent of GDP).
This compares with £905.3 billion (60.5 per cent of GDP) at the end of March 2011;

Fraser Nelson is similarly confused:

It’s odd: two otherwise-honest men have decided to use language which is designed to convey the opposite of what is happening with the national debt.

UPDATE: Even a member of the ruling party is highlighting the lies and incompetence.

According to Douglas Carswell, Dave is not setting “A Bonfire of QUANGO’s” when he promised to abolish 192 of them. Instead, he has abolished 1, and created 6 new ones.

The one to be abolished? The Audit Commission.

Although the presenter talks about the US government deficit, the lesson applies equally to the UK, and every other nation.

The government does not have a "debt" problem. They have a spending problem, this 2 minute video explains why:

Via Zerohedge

Dim lights Embed Embed this video on your site

Sky news has a report concerning the latest IMF Global Stability Report. Using this chart, they point out that:

The Fund's Global Financial Stability Report has revealed that the total gross debt of Britain's banks is equivalent to 742% of the UK's total economic output – equivalent to around £11 trillion.

Not only is this bigger than the 547% of GDP total in the last report in September, it means Britain has overtaken Ireland, whose banking system's debt is equivalent to 691% of GDP.

Considering the "extreme austerity" imposed by our Dear Leader; David Cameron, it does not make sense.

Unless.... Just, unless, the entire world is in a race to inflate this debt overhang away.

I mean, what on earth is going on with this, from the Office of National Statistics March release:

public sector net debt at the end of March 2012 was £1022.5 billion (66.0 per cent of GDP).

This compares with £905.3 billion (60.5 per cent of GDP) at the end of March 2011;

Really! While the political dogs fight for the cameras over spending cuts, the national debt has actually increased about 10% over the past year!

Interestingly, only about one quarter of British debt is held by foreigners, and, alone amongst our friends, British debt has a maturity that is due to be repaid, on average, in fourteen years.

On the other side of the fence, Spain has over 140,000 Million Euro of its debt due to be repaid in 2012.

And according to this by 'Mish' Shedlock:

now to 2013 ............If to this amount we add the debt of the other authorities (Regional and Local) and agencies and public enterprises, the total amount is almost doubled and we would be talking about a figure in excess of 500,000 million euros.

I just love that: "500,000 million". It sounds awesome until you realise it is just a five with a bunch of zero's behind it, and what exactly is a zero worth?

And they cannot just print Euros as they could Peseta's:

Not like the Bank of England can.

Do you get it yet?