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controlling corporations

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  • james armstrong
    You may care to send this letter to your MP. Mr Vince Cable, MP Sec of State Business Innovation and Skills, 1 Victoria Street, SW1H 0ET
    Message 1 of 1 , Sep 1 2:32 AM
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      You may care to send this letter to your MP.

      Mr Vince Cable, MP

      Sec of State Business Innovation  and Skills,

      1 Victoria Street,  SW1H 0ET                                              1 Sep 11

       

      Dear Mr Cable, ,                    Alternative finance for deficit repayment

       

      It is argued that the deficit needs to be repaid.  Here’s how.

       

      Charging a levy on each corporation for trading on Adam Smith’s ‘Golden Highway’ – the inestimable privileges of  both incorporation and freedom to carry out business in Britain,- would yield not only  sufficient to recoup public handouts to  private firms –“the deficit” – but could go on to pay off the national debt –without difficulty.

       

      The cash

      The capitalization of the FT 100 shows the scale of their wealth.

       

      The justification

      1 Multi £million fines by  regulators show corporations are out of control

       

       2 Trading in  credit worthy English speaking affluent educated, stable , un corrupt UK is a privilege which no miulti national can forego.

       

       

      The precedent

      The directors and sponsors of the Bank of England  paid a hefty premium  for incorporation in 1694

      -and many times therafter to have their charter of incorporation renewed.

       

      By graft and payments to corrupt nineteenth century ministers  the control which justifiably  skeptical society exerted over corporations via this renewable charter, was lifted and  to-day is forgotten but sorely needed – the proof is the list of £m fines attached

      The rogues now run the Bank of England as directors, nominees and on mpc.

      The proof 

      “of all… the worst is the banking system we now have”…..Mervyn King

      And we know that the City of London Corporation blackmails the Treasury and the Bank.

      The solution                                                                                         and funds politicians.

      1  An annual  fee for the inestimable privilege – the illusion of artificial  ‘incorporation’  from just one corporation- the City of London – would pay off the fiscal deficit and go on to pay off the national debt, then , if HMG freed itself from voluntary bondage to the banks – allow debt free state expenditure.

      2 Set a renewable termination date (RTD) for each corporation and shorten it for fraud

      etc or extend it for compliance. This is not a new idea but has impeccable 1694 precedent

      You may want to reconsider whether you really want to ‘go into service’ as a servant (minister) of a servant HMG of the City rogues inc. .

       

      Yours faithfully,             James Armstrong  

       

       

       

       

       

       

                   List of corporate rogues and the scale of their roguery

          (fines by  SEC, FSA, OFT regulators  free them from prosecution and so decriminalize them. )

      EU  Fines

      1 April 2011 Proctor and Gamble & Lever Brothers £240million

       Source BBC News  website

       

      2 Microsoft Fined     £680million   2008

      3 Intel Fined              £1bn               2009

       

      4 13 Global airlines cartel fined      euros   800m (Quantas $6.5m 07

      5      Heineken  Fined  Euros        219m   with 3 others in Netherlands  07

       

      MULTINATIONALS’  FINES  PAID BY CORPORATIONS

      List Compiled by George Draffen     see endgame.org website

      Johnson and Johnson   16m euros  (Portugal)

      Amro  Bank                     $80m             2005                                        

       

      AIG (insce)                  $1.6bn              2006                        Credit Suisse   $150m    02

      100                                   01

      American Electric         $4.6bn              2006                                          300               03

       

      American Express         $ 3.7m             2007                 De Beers           10m

                                             $ 7.4m            2005            Delloite Touche      $50m            05             

      Astra Zeneca                  $355m                                Deutsche Bank         $87m           04

      Bank of America            $375m           2005              Enron                      $1.5bn         05

      Bayer                              $250m                           First American Bank     $6m            04

                                              66m                                     Walmart                  $11m          05

      33m             2004              Nike                            $1.5bn      03

      55m                                    Paypal                         $10m        03          

      15 m                                   Pfizer                      $ 430,000

      Bear Sterns                     $ 80m          2003               Philip Morris             $1.2bn        04

                                                                                                                             2.75m       04

      Boeing                            $100m                   Pilgrim Bowker, Old Mutual   $100m 

                                              $600m         06     Prudential Financial                   $600m

      Bristol Myers                  $150,000               Roche Hldgs                             462m euros

                                               $300,000              Royal D Shell                           $120m

      Cargill                              $24m                                                                      30m

       Chevron                           $6 m                        Samsung                                $300m

      Citigroup                          $400m                   Sony                                        $ 10m

                                                 300m                 TAP Pharma                              $885m      

                                                 215m                Time Warner                              $210m      05

                                                 70m                             do                                     $300m     05

                                                 $2.4bn   04                   do                                     $3bn       05

                                                 $2.0bn    

      Tobacco                               Reynolds, PH Morris…$ 590m   05     

       

      Add to these the multi million fines imposed on corporations  by Office of Fair Trading , and by F SA  in this country and you have a

      stark proof of  rogue traders on Adam Smith’s  Golden Highway

      Goldman Sachs.       This firm, from whom the Bank of England recruits mpc members and directors (Willem Buiter and Lord Griffiths) has agreed to pay $550million to settle fraud charges  and  been fined  in UK, £17.5million by FSA. Goldman  Sachs  staff pay in 2010 was $16.2bn and their profits $12.2bn .

      ROBERT PESTON  writing, in ‘Who Runs Britain’,

        giving the example of a Walmart employee in US.  who bought a house he could not really afford –

      “such mortgages became known as  liars’ loans .The point is that somewhere near $1.3trilllion dollars of these loans  were sold to investors all over the world…..”


       

       

       


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