Denis Healey: the best Prime Minister Britain never had.
Think about this: if you had a load of money in the
bank and a mortgage, would you pay the mortgage off?
Tax advisors say no, don't pay it off as you get tax
relief on the mortgage interest – personally I would pay it off,
tax relief or no tax relief.
Many years ago we had an interest only mortgage; to
have one of these we had to take out an endowment life insurance plan
to secure the balance. What they didn't mention was the insurance
plan might not mature to more than the balance of the mortgage as
there is no guarantee that it will.
And in fact a lot of them didn't.
One time a long time ago I put an advertisement in the
newspaper as I had a violin to sell.
A man came to the house to look
and eventually bought it.
However, this man only bought the thing to
get in to the house. He was an insurance salesman. And he sold me an
endowment mortgage. He paid me £100 or so for the violin just to
make a sale. He would be paid commission on every payment I made to
the insurance company for 25 years. All for giving me £100.
After a few months I found I couldn't really afford
the premiums so I cancelled it.
Isn't the national debt a bit like that. Aren't we
borrowing money from ourselves and trying to balance the books as if
we have a load of cash in the bank but we are borrowing money to pay
the mortgage, the utility bills and everything else and at the end of
the year we say we have a deficit when all the time our capital stays in the bank.
Without giving precise numbers it has recently been announced
that the National Health Service has lost two point something Billion
pounds in the past year. That is despite the one Billion the
government gave them. The word gave by the way is wrong but
that's what I heard.
Two Billion in the scheme of things is a drop in the
ocean when you consider that the government gave forty three Billion
to the Royal Bank of Scotland to bail them out.
Yes gave. Because they ain't getting it back!!
And then there's the rest of the banking world.
Now - where did the government get it from?
Was it in a big hole somewhere, stashed there for a
rainy day or was it borrowed?
If it was borrowed who did we – yes the royal one –
borrow it from?
Why from ourselves, of course. I think the national
debt is around three Trillion or thereabouts and that three Trillion
is owed to The Bank of England – our bank.
It is also owed to the people who buy government
bonds.
Maybe the Rothschild who lent money for the
Napoleonic wars in the first place?
We don't borrow from The World Bank or the
International Monetary Fund because our national debt is not an
INTernational Debt.
We invest in the International Monetary Fund and the
World Bank, I shouldn't wonder.
The crisis in the National Health Service gets
discussed and debated as if the solution is monetary, as if it's some
kind of business and is likened to private companies whose aim is to
make a profit.
The National Health Service is not here to make a
profit or even pay for itself.
It's here to serve and for those who complain about
management salaries etc I would ask the question: who do you want to
manage it if not managers?
The doctors?
Some countries don't have national debts: Norway for
a start.
When they discovered the oil they paid it off.
Could we do that or are we only renting the island
from the Rothschilds?
Maybe the deficit is, like the national debt
bullshit.