An Inside Glimpse into the Bankster Swindle
The public was given a rare glimpse into the inner workings of the bankster swindle when it was revealed that two major banks were secretly bailed out by a £61,6 billion taxpayer-funded loan — which they subsequently repaid using a second, publicly announced, taxpayer-funded cash injection.
The incredible situation of taxpayers being repaid with their own money came about after the Bank of England secretly loaned £61.6 billion to RBS and Halifax at the height of the financial crisis in October 2008.
The loan was made in secret and withheld from the public and shareholders of RBS — even though they were in merger talks with HBOS at the time.
The banks secured the loans on security of £100 billion mortgage and other assets.
RBS and Halifax were then partially nationalised in the great bankster bailout which followed. Their cash stocks replenished with new taxpayer money, the banks then “repaid” the £61.6 billion loan.
The details of the loan were kept secret until yesterday, when the Bank of England revealed details for the first time, saying that an earlier disclosure would “trigger panic.”
According to the Bank of England, it was feared that without the massive cash injection, the banks would literally run out of money.
The revelations of the secret loans are also probably a breach of some fiduciary duty on the part of the banks, as Lloyds shareholders were asked to support a takeover of HBOS in November 2008 without being informed of the undercover loans to which their company had committed itself.
According to news reports, Dr Ros Altmann, a former Downing Street adviser, said that the secret loan was “a silent coup d’etat. Our national wealth is being transferred to the banking sector. It is deeply worrying.”
Even more disturbingly, City minister Lord Myners refused to respond to media questions on whether there were any other secret loans about which the public has not been told.
* In related news, the British National Party has announced that it would introduce retrospective legislation which would force banks to repay excessive charges levied against consumers.
In a press release, the party said the recent ruling by the Supreme Court that charges for unauthorised borrowing were part of the price customers paid for banking, was not fair trading practice.
A BNP government would ensure that banks were unable to impose punitive and unfair penalties on smaller customers, the press statement said.
“Furthermore, the banksters cannot be let off the hook for their role in the current financial crisis.
“The BNP demands that the banksters responsible for the catastrophe be held personally legally liable for their actions in terms of corporate governance laws. They should have to pay a personal price for the mess they have created, and also not be rewarded with huge bonuses paid from taxpayer-funded bailouts.”
