December 2023
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The Zimbabwification of Britain: Could someone please buy my latest book?

Don’t try this at home, but they say that if you put a frog (the animal not a Frenchman) into a pan of cool water and then slowly heat the water, the warming will be so gradual that the frog will allow itself to be cooked to death. Similarly people don’t seem to notice gradual change.

Our Government seems to be taking this approach with the gradual debasement of our currency. The pound lost a third of its value against real currencies following the 2007 crash and now the Government is trying to push its value down further in at attempt to reduce the Government’s debt. I don’t fully understand what’s happening, but the Government seems to have magicked £375bn out of thin air to buy about 30% of the Government’s own debt. This has kept interest rates on the Government’s debt at historically unsustainably low levels. And now the Government has decided that it shouldn’t be paying itself interest and so Osborne has taken the £35bn that should have been paid in interest to lower the deficit.

Under Brown and Balls we got used to a torrent of lies about the economy and fiscal subterfuge as those two financially incontinent buffoons drove Britain towards bankruptcy with their uncontrolled borrowing and wasting. But liar Osborne seems to be following in Brown’s footsteps in fiddling the books to try to hide his own incompetence.

At the moment, with so many countries bankrupt in all but name, the pound is maintaining its value against the euro and dollar. But an horrific day of reckoning is coming. At some point the Government will no longer be able to invent money to buy its own debt. Government debt is about £1trn now, by 2015 it will be £1.5trn. When interest rates on government debt do rise back to realistic levels, we will be spending more than 10% of all tax revenues on paying the interest on our debt. International lenders will see that Britain is just another Greece, Spain or Portugal and there will be a massive collapse in the value of the pound.

Meanwhile, I’d be grateful if a few of you could buy some copies of my latest book GREED UNLIMITED. It’s not a bad book, it only costs about six quid and I’d rather people read it than have to throw most of the copies printed in the bin.

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