Tag Archives: fractional reserve banking

Godfrey Bloom Tells European Parliament They Are Perpetuating Banksters Scam Defrauding Taxpayers

Central Banking banksters fraud fractional reserve banking Godfrey Bloom European Parliament

Godfrey Bloom Tells European Parliament They Are Perpetuating Banksters Scam Defrauding Taxpayers

A Mr. Godfrey Bloom adresses the European Parliament and says that by allowing fractional reserve banking they are victimizing and defrauding the public. The European Parliament looks uncomfortable and then basically turns over and goes back to sleep.

I’ve heard it said that 97% of money in play right now is digital money. That is to say that it is not money that ever existed to begin with. It has been created as debt by banks out of nothing (it did not exist until it was created as a loan, on which interest is paid to the banks. It is not other peoples savings).

Most of this money goes to funding, non productive, property bubbles and financial speculation, only 13% goes to productive businesses. Creation of money should be taken away from the banks and transferred to a interest free, democratically accountable, transparent process. Money can then be targeted to where it can do the most good and away from areas that have historically caused booms and busts.

Until someone changes the current system we are at the mercy of banksters who scam the public for a living. I know it’s complicated but we are obligated to understand and fix this system unless we want to pass this mess onto our children’s children’s children.

European Parliament, Strasbourg, 21 May 2013

• Speaker: Godfrey Bloom MEP, UKIP (Yorkshire & Lincolnshire), Europe of Freedom and Democracy (EFD) group –http://www.godfreybloommep.co.uk

• Joint Debate: Banking union – single supervisory mechanism

1. Specific tasks for the European Central Bank concerning policies relating to the prudential supervision of credit institutions
Report: Marianne Thyssen (A7-0392/2012)
– Report on the proposal for a Council regulation conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions
[COM(2012)0511 – – 2012/0242(CNS)]
Committee on Economic and Monetary Affairs

2. European Banking Authority and prudential supervision of credit institutions
Report: Sven Giegold (A7-0393/2012)
– Report on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1093/2010 establishing a European Supervisory Authority (European Banking Authority) as regards its interaction with Council Regulation (EU) No…/… conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions
[COM(2012)0512 – C7-0289/2012 – 2012/0244(COD)]
Committee on Economic and Monetary Affairs

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• Video: EbS (European Parliament)
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• EU Member States:
Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Germany, Denmark, Estonia, Spain, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Sweden, United Kingdom

See www.positivemoney.org for more ideas on the present system and how we can change it.

Read more at http://www.educateinspirechange.org/2013/05/why-whole-banking-system-is-scam.html#B8S7XJg7je6pIRXo.99

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