» Bank of England

Inquiry into the Accountability of the Bank of England by the Treasury Select Committee

Sabine Kurjo McNeill — Tue, 08 Mar 2011 09:49:41 +0000

The Treasury Select Committee always does the right things, but business continues as usual despite that…

Here it announces an inquiry into the Accountability of the Bank of England.

It would be good if my submission was not the only one maintaining the status quo… The deadline is March 31st and the text needs to be limited to 3000 words. I’ll publish my submission asap.

1. The Documents Relating to the Inquiry
1.1. The Government’s proposal 26 July 2010[1]: A new approach to financial regulation: judgment, focus and stability.

1.2. The Governments second proposal 17 February 2011[2]: A new approach to financial regulation: building a stronger system.

1.3. The Treasury Committee’s Seventh Report[3]: Financial Regulation: a preliminary consideration of the Government’s proposals

[1] http://www.hm-treasury.gov.uk/consult_financial_regulation.htm

[2] http://www.hm-treasury.gov.uk/consult_finreg_strong.htm

[3] http://www.publications.parliament.uk/pa/cm201011/cmselect/cmtreasy/430/43002.htm

Deficit panic – budget austerity and the real cuts agenda

Sabine Kurjo McNeill — Sun, 13 Feb 2011 08:31:51 +0000

David Blanchflower is the economics editor of the New Statesman and has two other professorships, besides having been a member of the Bank of England’s Monetary Policy Committee.

His quotes inspired Ken MacIntyre to write these two articles where he puts into economic language and thinking what we monetary reformers have been saying for decades:

1. Public control of the money supply and credit creation

2. A financial transactions tax (Robin Hood Tax)

3. Restoration of controls on all exchange and capital movements across national borders

4. An end to speculation by banks

5. Derivative contracts such as swaps to be properly regulated and restricted to the needs of the real economy.

6. Land value and natural resources taxes.

7. All traded shares to expire after a fixed period of time. See Steve Keen.

8. Loans on land and property to be limited to ten times the annual rental value. See Steve Keen.

Deficit Panic I – Budget austerity and the real cuts agenda

Deficit Panic II – Replacing a chronically unstable system

Ken has been a victim of bankruptcy fraud and has attended many meetings of the Forum for Stable Currencies.

Coalition of Resistance: a broad united national campaign against cuts and privatisation

Sabine Kurjo McNeill — Thu, 21 Oct 2010 17:26:26 +0000

Tony Benn and 73 others wrote on 4 August 2010 in The Guardian: The time to organise resistance is now.

We reject these cuts as simply malicious ideological vandalism, hitting the most vulnerable the hardest. Join us in the fight.

I just saw Mark Serwotka’s most remarkable speech on video on the occasion of a Coalition of Resistance rally. To add fuel to everybody’s fires, I would like to draw to your attention:

1. The economic crisis was an ‘inside job’ – a summary of the film review Inside Job

2. The analysis of UK Budgets of the last 10 years – revealing the purpose of the ‘crisis’

3. The growth of interest payments in the austerity budget – the real reason behind the ‘crisis’

4. I have alerted all members of the Treasury Select Committee to the above items.

5. As the organiser of the Forum for Stable Currencies at the House of Lords and Commons since 1998, I feel that monetary reform as the CAUSE is better understood since; hence I focussed on the VICTIMS of financial exploitation and legal oppression more recently

6. Legally, it would be wonderful if people could join forces to enforce the Bank of England Act 1694

7. Politically, I have been waiting for trade unions to understand the issues at stake:

Hence I’m glad that it is the Public and Commercial Services Union that seems to take the lead in the Coalition of Resistance.

Bank of England and Fed accused of data rigging in the past

Sabine Kurjo McNeill — Sun, 14 Feb 2010 08:29:44 +0000

The investment community is obviously very much up to speed with naked capitalism as it presents itself before the market of “financial products”.

One of its excellent groupings is GATA, the Gold Anti-Trust Action Committee that sends out remarkable daily news.

Today it unearthed “news” about the interwar period of 1925 – 1931 when the Bank of England rigged the data about gold to manipulate its price, in cahoots with the Federal Reserve.

GATA has been following the current gold price manipulation for years.

Here’s the latest academic research.

Mervyn King’s response

Sabine Kurjo McNeill — Sun, 27 Dec 2009 10:39:28 +0000

I call it a “fobbing off” letter. Our legal advisor writes “valuable evidence” and one of our victims turned “star fighter” is over the moon because of the inaccuracy it contains. We are still thinking about our response.

Open Letter to Bank of England and FSA

Sabine Kurjo McNeill — Thu, 03 Dec 2009 17:38:37 +0000

Our Chairman Austin Mitchell MP has sent our Open Letter to Mervyn King not only to the Governor of the Bank of England, but also to Hector Sants, the CEO of the Financial Services Authority.

The letter makes three points:

a) false documents are being used to file bankruptcy

b) wealthy individuals are being bankrupted for no valid reason

c) Bank of England accounts are being used as part of insolvency procedures.

The enclosures we provided consist of :

Evidence a: a false document

Evidence a: a false document to file bankruptcy

Evidence b: the cases of three wealthy individuals and references to Guardian articles about a fourth case the story of Patrick Cullinane

Evidence c1: cover page of a legal document of The Insolvency Service

Evidence c2: page 7 of same document relating insolvency accounts to the Bank of England.

Our aim is to group cases to change the law and to enforce the Bank of England Act 1694. This Act was written with the intention to avoid the oppression of Their Majesties’ subjects by the Corporation, i.e. the Bank of England.

Regarding the enforcement of the Bank of England Act 1694, Austin Mitchell has tabled Early Day Motion 1297 for MPs to sign, while we are publishing the blog EDM1297 for ‘cases’ to record their story of oppression.

The answer from the FSA is here and from the Bank of England here.