- 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 capitalization of the FT 100 shows the scale of their wealth.
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 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.
“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. )
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
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
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 $3bn 05
Tobacco Reynolds, PH Morris…$ 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…..”