By Nick Griffin, chairman of the BNP — The Great Unwinding is only
just beginning. The massive wave of destruction of debt-created
‘wealth’ in the Alice in Wonderland world of High Finance is now
beginning to crash through our real world too.

Despite all the media coverage, up until now very few of us ‘ordinary’
mortals have been affected by the Credit Crunch in our daily lives.
After all, even home-owners who now see what they thought was an
‘asset’ depreciating at about the same rate as their take-home pay,
are only really hurt if they want to sell up. The old gang
politicians’ phoney concern for investors and savers may make for
‘tough but caring’ conference speeches, but it’s been deeply
irrelevant to most ‘ordinaries’ for one simple reason: We don’t have
any stocks and shares; we don’t have any investments or savings.

Millions of well-educated middle class business owners and knowledge-
workers, and millions more skilled and hard-grafting working class
people have been pushed by several decades of globalisation into a
modern form of proletarianisation. They have no savings, no surplus at
the end of the month to put aside for a rainy day, and no
‘investments’ except perhaps theoretical equity in a now unsaleable
house bought with a massive mortgage.

It is right that the lucky minority with nest eggs in building
societies and banks should have their hard-earned deposits protected
when the greed of the banksters and chief execs destroys even ’safe’
investment institutions. But the people who are really going to need
help in the months and years ahead are the vast number who have worked
and paid ever-rising taxes for years, but who at the tail end of each
month have been able to keep their children fed or their homes warm or
their cars fueled for the journey to work only by putting a little bit
more on their credit cards.

So far, for the millions of Middle Englanders in this position, the
collapse in bank share prices, the soaring of overnight lending rates
and even the queues round the block at Northern Wreck have been little
more than a change from watching TV reports of another plane load of
coffins being unloaded at RAF Brize Norton. But the economic
catastrophe which was always going to result from a combination of
debt-created credit, Peak Oil, globalisation and deregulation is now
just starting to seep into the real world where most of us — unlike
the silver-spoon millionaires in the Tory Shadow Cabinet — actually
live.

Two-thirds of the British economy is based on consumer purchases, the
vast majority of which have been based (either directly or by the
trickle down effect of home-owner spending in the service industries)
in recent years on equity withdrawals from the over-inflated housing
market. So yesterday’s news that August saw a 95% drop in newly
arranged mortgages tells us that consumer spending is about to drop
over the edge of the cliff.

All the Government ‘bail-outs’ of financial institutions around the
world will do nothing to stop the real economy hitting the buffers
now. As a matter of fact, those ‘bail-outs’ have nothing to do with
economic prudence, the national interest or helping ordinary people;
they are nothing more or less than huge-scale looting of the public
purse to prop up the biggest banks, and the power of their party
political puppet regimes.

Look, for a moment, at the basic details behind the joint Brown/
Cameron approved ‘rescue’ of Bradford & Bingley. The Government (i.e.
the mug-taxpayer and everyone with a bank account, as all banks will
put up charges to cover the cost of their share of the compensation
scheme) is to pour £50 Billion into B&B’s wrecked coffers, mainly to
ensure that its customers all get their money back. In return, we
become the proud owners of Billions of pounds of bad debts and sub-
prime mortgages. The Spanish bank Santander, by contrast, is paying a
mere £612 Million (note that lack of a B) to snap up B&B’s savings
business, including 2.7 million customers, £21 Billion in deposits,
200 branches and a huge headquarters building. Nice work if you can
get it, Manuel!

As well as the taxpayers, the other losers are B&B’s 3,200 staff who
stand to lose their jobs, nearly one million shareholders whose bits
of paper are now virtually worthless, and mortgage customers who will
have to switch to new lenders as their deals end but may be unable to
find any.

Any sane government would let the greed-crazed circus of High Finance
crash to the ground, and then step in to pick up the pieces and use
them to benefit the nation. From B&B alone, the £21 Billion of
deposits which Brown is allowing to fall to Santander’s smash and grab
raid, and the continued monthly mortgage payments from customers,
would provide a vast sum which could be used to start the long job of
rebuilding the manufacturing base which, in the final analysis, is the
only thing that will keep this country alive once China and Saudi
Arabia have bought up the last things we possess that are worth
having.

£21 Billion, ploughed into the pure and applied science research wings
of our top dozen universities would produce a decade’s-worth of world-
beating inventions ready to be developed commercially by a new
generation of job- and -wealth-creating companies in fields such as
alternative energy generation and energy saving transport systems.
Multiply that by the value of the assets from all the other big
financial institutions which will go to the wall and be bailed out
with more Brown/Cameron “privatise the profits/nationalise the losses”
scams, and within two years a British nationalist government could
create a massively well-funded National Reconstruction Bank.

The only companies affected would be those which have in any case been
effectively destroyed by the greed and folly of their ‘Master of the
Universe’ bosses. The customers of such companies would be protected
as they are being now in any case. Instead of being wiped out as they
are now, their shareholders would have their investments saved and
turned into long-term holdings in expanding new businesses (they would
lose the chance to gamble daily on the Stock Exchange casino, but it
beats being wiped out as they will be under the existing system
whereby only the big guys and small savers get rescued).

The only real losers would be the bosses of the failing institutions,
who should be sacked immediately for their incompetence and
corruption, the biggest of the corporate vultures whose current
‘business model’ (having gorged themselves stupid during the credit
binge) now involves gobbling up the remains of their weaker
competitors, and the Sovereign Wealth Funds of Far Eastern and Arab
oil states which see the present financial turmoil as the ideal
opportunity to asset strip the West.

This is not ’socialism’, as economic illiterates such as Norman
Tebbitt will maintain. It’s a matter of national economic survival.
It’s about positioning Britain to survive and even to prosper in the
coming Age of Energy Scarcity. It’s the way to free the natural
creative energy of the inventors and entrepreneurs of our island race,
removing the shackles imposed on them by the short-term folly and
greed of high-taxing governments and City spivs. It’s the only way to
create a new economic and financial system which can work in a world
where the natural limits to growth in a finite world are recognised
and respected, in place of the world-gobbling fantasy of perpetual
‘growth’ .

Finally, to pick up on the one issue which even brain-dead old Tories
may be able to grasp. It is the only way in which to avert the final
‘crisis of capitalism’ — the one that the Marxists, as with so much of
their theorising, got half right and then terribly wrong. We do today
face a very genuine twin crisis of capitalism as the credit bust
destroys untold trillions just as resource shortages end the
superstition of perpetual growth. As the energy crisis bites harder
and harder, the biggest source of the capital needed to prop things up
a little longer will be the bulging coffers of the oil states. The
result will indeed be a form of fascism — a totalitarian system which
allows capitalism to exploit ordinary people in return for a free hand
to promote its own ideologically-driven utopian agenda: Islamo-
Capitalism.

The last man standing in a global capitalist system being killed off
by resource shortages will not be an import-powered, export-financed
industrial giant like China. It will be Saudi Arabia or Iran. The vast
amounts of wealth that the simple and unbreakable rules of geology
mean will be transferred from the capitalist nations to the oil
producers will give the Islamists the power and prestige they need to
buy, intimidate and in the end overwhelm the ruling elites of the
West. Left to its own devices, capitalism will end, neither with a
bang, nor a whimper, but with the wailing of Imams from golden
minarets built from and over the ruins of our industrial civilisation.

It is time we, the free peoples of the West, took back control of our
own destiny. Money must again be our servant, not our master. Capital
must be productive, a tool at the service of the productive genius of
our kind. The arrogant insolence of the City slicker ‘Masters of the
Universe’ has run its course. It is time to replace them with the
scientists, the captains of industry and the honest workers by hand or
brain who together built this great nation. The Age of the Parasite is
over; now let us put our trust in honest work.

For an interesting and concise summary of the truly shocking state to
which the old party politicians have reduced the British economy, we
recommend you take a look here.

http://www.bnp.org.uk/2008/10/coming-home-to-roost-nick-griffin-exposes-the-emptiness-of-those-lab-lib-con-conference-speeches/

brilliant.

tg wrote:
> brilliant.
As in "never was so much prejudice and so little understanding by so few 
in danger of misguiding so many.

No, I don't mean the financial industry. I mean the BNP.

China doesn't *need* the west at all. Iran and Saudi do. Apart from oil 
and the Q'ran, they have nothing.

On Oct 3, 12:21 pm, The Natural Philosopher <a...@b.c> wrote:
> tg wrote:
> > brilliant.
>
> As in "never was so much prejudice and so little understanding by so few
> in danger of misguiding so many.
>
> No, I don't mean the financial industry. I mean the BNP.
>
> China doesn't *need* the west at all. Iran and Saudi do. Apart from oil
> and the Q'ran, they have nothing.

Never!

Jon° wrote:
> On Oct 3, 12:21 pm, The Natural Philosopher <a...@b.c> wrote:
>> tg wrote:
>>> brilliant.
>> As in "never was so much prejudice and so little understanding by so few
>> in danger of misguiding so many.
>>
>> No, I don't mean the financial industry. I mean the BNP.
>>
>> China doesn't *need* the west at all. Iran and Saudi do. Apart from oil
>> and the Q'ran, they have nothing.
> 
> Never!



Que?

countries exist by dint of having some resource they can exploit, and if 
they exist at a level that requires trade, then they need a resource 
that is wanted elsewhere.

That resource might be agriculture - like say canada - or skills - like 
Japan, or financial engineering,. like the UK..or combinations thereof,. 
but when its one mineral resource and almost nothing else, that economy 
is crucially vulnerable.

If the world moves away from oil, the gulf states will wither and die. 
Unless they can find something else about the places to attract other 
economic activity.

Think the Welsh Valleys post the coal age...