EUROCRATS

In the news, the British Government is out of pocket millions on its tax collection duties since February, surrounding VAT and corporation tax. The blame of late payment notices are being send to businesses, yet it was the HMRC’s fault in changing its bank details. “In February, the government department changed its International Bank Account … Continue reading EUROCRATS

Blunder or Plunder?

Manipulating interest rates in any degree, one is considered to be committing legal plunder. Though, the law is no less immune to manipulation than are interest rates. The law could not organise interest rates without disorganising justice, the resulting transmission of wealth through intended inflation is a violation of property. Legal plunder: “[The word plunder … Continue reading Blunder or Plunder?

Competing Crypto-Currency, RSCoin

The Telegraph reports the Bank of England are developing a new competing currency for Bitcoin, called RSCoin. “[This new currency transfers the] control of money creation from private banks to the state. Arguably, this would make the financial system safer and less prone to boom-bust cycles.” (Evans-Pritchard, 2016). Inflation-induced “boom-bust cycles” arise from monetary policy credit … Continue reading Competing Crypto-Currency, RSCoin