KHOODEELAAR! TOLD BRoWN AND DARLING SO! We did tell them way back in February 2004! Over 5 years ago...

2210 Hrs GMT London Saturday 14 March 2009:

KHOODEELAAR! TOLD YOU SO! Now, even after his repeat performance of the script done today with the presence of Angela Merkel [undergoing additional strain due to the tragic events in Germany this past week],Gordon Brown was not able to show any credible evidence of a breakthrough this morning AND NOR has Alistair Darling at Horsham! And no wonder, if the tension between the Treasury [UK Ministry of Finance] and the Bank of England is anything to go by. As reported for the DAILY MAIL today [Saturday 14 March 2009] by Peter Oborne, the ‘economic and monetary policies’ of the Gordon Brown regime are now worse than desperate, fallacious and wrong. That even the BBC’s over-promoted ‘Economics Editor’ Stephanie Flanders could dismiss the proceedings of the Brown regime in the way that she did in her dispatches from Horsham, shows that Brown is sinking fast down the hole of his own making.…..A hole not too dissimilar to the Crossrail hole he has been stubbornly plotting against the community in the inner city East End of London..


.[To be continued]

How a bitter war between the Bank of England and No10 could decide if Britain has to be bailed out by the IMF again
By PETER OBORNE
Last updated at 11:12 PM on 13th March 2009

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Over the past few months, Gordon Brown has used two principal policies, both highly controversial, to try to lift Britain out of the economic slump.

The first has been the use of so-called 'cheap money'. Interest rates have been brought down to their lowest level - currently 0.5 per cent - since records began more than 300 years ago. Simultaneously, the Bank of England has begun what is described as 'quantitative easing' - the printing of £75billion in extra money over the next three months to try to help kickstart the flagging economy.


Gordon Brown: Facing opposition from the Bank of England Governor


Mervyn King: Worried about yet more borrowing

Such a device has never been resorted to before in peacetime. However, this strategy has now gone as far as it possibly can, so Gordon Brown has been forced to try another route: increasing government spending in the hope that he can artificially boost economic activity through new building policies and state employment schemes.

Although the Prime Minister wants details of this plan to be unveiled at the time of next month's Budget, I can reveal that it has met with unexpected and powerful opposition from the Bank of England Governor, Mervyn King. The Governor is very worried about the Labour Government borrowing yet more money and launching a mammoth public spending splurge.

The Governor's reservations have been passed to Treasury officials via unofficial channels. One of the main reasons for Mervyn King's deep concerns is that he is determined not to go down in history as the Bank of England governor who presided over the collapse of the creditworthiness of the British state.

He is increasingly worried that extra government spending will damage the official credit ratings that are awarded to the Government as an independent yardstick of the health of the nation's finances. If our rating were downgraded, it would have a severe effect on the ability of the Treasury to raise more money on the international currency markets because it would be forced into paying a much higher rate of interest.

Earlier this year, there was speculation that the world's premier rating agency, Standard and Poor's, was ready to take the unprecedented step of lowering its rating for British government creditworthiness from its gold-plated triple 'A' classification to a lesser grading. It eventually held back from making such a damaging move. Since then, however, the outlook for the British economy has darkened.


Alistair Darling: Stuck between the PM and the Bank Governor

Crucially, the decision to print extra money has very badly compromised the integrity of the Government's debt financing and it also now looks certain that Chancellor Alistair Darling will be forced to revise sharply upwards his forecasts for borrowing in his Budget. Mervyn King is therefore afraid that Gordon Brown's 'fiscal stimulus' will result in the downgrading of Britain's credit rating on the basis of pessimistic predictions about the Government's ability to repay its debts.

The Bank of England is under no illusions of the dire consequences that could follow. Above all, there would be flight of foreign capital from Britain, leading to the collapse of sterling in the international currency markets. More worrying would be the consequence for interest rates.

At present, the Government's gold-plated 'AAA' rating means that it can repay loans at a beneficially low interest rate. But if Britain's credit rating were lowered, the Treasury would be hit by having to pay much higher interests rates for loans. This, in turn, would lead to the Bank of England's Monetary Policy Committee being forced to sharply raise base rates for everyone - thus driving the country even deeper into recession.

Such a crisis of confidence is exactly what happened in the Seventies when interest rates soared into double figures and when Labour Chancellor Denis Healey was forced to go cap in hand to the International Monetary Fund (IMF) to save the country from bankruptcy.

In exchange for its emergency bailout, the IMF demanded massive public spending cuts. Not surprisingly, Mervyn King is concerned that Britain may be forced into the same position again. However, this places him on a collision course with Gordon Brown who is determined to throw caution to the wind and increase spending even further - just like a desperate gambler who decides to risk all with one final spin of the wheel.

Indeed, the Prime Minister believes that the only way Britain can recover - and rescue his own political future - is by spending even greater sums of public money. He hopes that this last-ditch policy will be endorsed when the G20 group of leading financial nations meets in Britain in two weeks' time and allows him to triumphantly announce the exact details in next month's Budget.

In his more optimistic moments, Gordon Brown even hopes that this audacious plan could provide the platform for a general election to be held in the early summer. This is why the argument between him and the Bank governor is potentially so explosive.

It risks becoming the most damaging stand-off since the mid-Sixties when the then Bank Governor, Lord Cromer, challenged the Labour prime minister Harold Wilson over his decision to devalue sterling. Wilson was barely on speaking terms with Cromer, who also threatened to resign after the Prime Minister opposed a 1 per cent rise in interest rates.


Bank of England: The institution has begun what is described as 'quantitative easing'

At the moment, Mervyn King remains coy about making public his strongly-felt private doubts about the Government's economic strategy because he doesn't want to be accused of intervening on such a politically sensitive issue if there is a general election is on the horizon.

Meanwhile, stuck between the Bank Governor and the Prime Minister is Alistair Darling.

The hapless Darling has been an unimpressive Chancellor. Indeed, he was appointed only because Gordon Brown thought he would do what he was told, and so far he has obliged, very often against his own judgment and to the private dismay of his officials.

In recent weeks, however, Darling has started to show a degree of independence. His recent acknowledgement that ministers should say sorry for Britain's economic debacle made a mockery of his boss's insistence that the recession was nothing to do with him. Furthermore, Alistair Darling has no more desire than Mervyn King to go down in history as one of the men who destroyed the national finances.

So, as Budget Day approaches, the Chancellor faces a very difficult choice. He can either follow the prudent course advocated by Mervyn King and, as I understand it, the majority of senior Treasury officials - or he can meekly go down the path dictated by Gordon Brown and expand the national debt yet further.

As the prospect of national financial collapse looms closer by the day, this decision - to choose between prudent Mervyn King or feckless Gordon Brown - will determine the shape of the British economy for years to come.


Why the Minister owes the Mail an apology


Bill Rammell: Owes the Mail an apology

Foreign Office minister Bill Rammell last year made the damaging claim that certain unnamed defence ministers had been aware of the atrocities committed against Iraqi prisoners by American soldiers at the Abu Ghraib jail for several months before the hideous details became public in May 2004.

Following concerted criticism in this column, Rammell has now changed his mind and issued a statement which withdraws his claim. This admission is welcome and means that Rammell now accepts, as I said, that he was the only member of the Blair administration who had been briefed by the Red Cross in advance of publication of its report into the atrocities.

Furthermore, it remains the case - as I originally reported - that Rammell failed to pass on this important information, neglecting to inform government colleagues what was going on and doing nothing more than call an ineffective meeting with officials.

When I originally drew attention to this failure of duty, Rammell accused me of peddling a 'downright lie'. He added: 'Whatever flaws I may have, ignoring claims of human rights abuse is not one of them. This is unjustified party political Mail journalism by smears, which this newspaper specialises in.'

In fact, I and the Mail were telling the truth. It was Rammell who was peddling falsehoods. At the very least, the minister owes an apology to both the Mail and the four defence ministers at the time the Abu Ghraib scandal broke - Geoff Hoon, Ivor Caplin, Lord Bach and Adam Ingram - whose judgment and decency he wrongly called into question.

Meanwhile, one burning question remains. Why on earth is Bill Rammell still a minister of state at the Foreign Office, with specific responsibility for the Middle East?





David Miliband: Changing the BBC Russian Service

Miliband's not making sense

Foreign Secretary David Miliband's policy on Russia makes no sense.

Publicly he takes a bellicose posture, condemning Moscow's war with Georgia in the breakaway region of South Ossetia in August. But, in private, the Foreign Office adopts a policy of cringe-making appeasement.

The latest manifestation of this were yesterday's changes to the BBC Russia Service, which will be welcomed in the Kremlin. The once excellent service, funded by the Foreign Office, has for some time adopted a servile line towards the Russian government, and this latest development will make the problem even worse.


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he ‘global fee-nance’ as G Brown pronounces the word, has assumed an altogether ‘new’ meaning

1140 Hrs GMT London Saturday 14 March 2009. Khoodeelaar! TOLD YOU SO!

The ‘global fee-nance’ as G Brown pronounces the word, has assumed an altogether ‘new’ meaning. It is linked with the FEE that the Saudis are alleged to pay in large sizes and sums... And it is the collection of fees that will make a decisive definitive difference to the fronters for the Military Industrial Complex [=the MIC] who are getting increasingly busy in making the case for the Saudi cash... They have even dropped their racist presentational bar against the Saudis. At least for the duration of the latest corrupton-created crisis Once the Saudis are relieved of the necessary amount of cash the MIC-controlled groups can think of resuming the wars on new occupations .....[from 1102 GMT] Big Business looting companies are now focussing on Saudi Cash! So much so that they are not even faking their ‘interest’ in Saudi Arabia any more. But you have to pay attention and listen carefully to identify the Big Business world financial fraud....Big Business plotted to loot countries like Saudi Arabia. And they are now beginning to make de facto confessions to that effect...They are beginning to do so via the BBC, as one of their peddlers did this morning....[To be continued]

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Khoodeelaar! TOLD YOU SO! Big Business looting companies are now focussing on Saudi Cash!

1102 Hrs GMT
London Saturday 14 March 2009


Khoodeelaar! TOLD YOU SO! Big Business looting companies are now focussing on Saudi Cash!

So much so that they are not even faking their interest in saudi Arabia any more.

But you have to pay attention and listen carefully to identify the Big Business world financial fraud....

Big Business plotted to loot countries like Saudi Arabia

And they are now beginning to make de facto confessions to that effect...

They are beginning to do so via the BBC, as one of their peddlers did this morning....

[To be continued]

From the web site of the WASHINGTON POST

"




BARACK OBAMA
Obama Calls Leaders of Indonesia, Saudi Arabia and the Philippines
By Scott Wilson
President Obama phoned the leaders of Saudi Arabia, the Philippines, and Indonesia Friday for conversations the White House said touched on climate change, regional security and diplomacy, and strengthening of the global economy.

In his call to President Susilo Bambang Yudhoyono of Indonesia, the most populous Muslim nation, the leaders "discussed regional and international issues, including the President's commitment to a new and different kind of relationship with Islamic communities around the world," the White House said in a statement. Obama spent part of his early childhood in Indonesia.

His call to President Gloria Arroyo of the Philippines focused on "countering terrorism and modernizing the armed forces," the White House said. It also involved the "visiting forces agreement" that governs how U.S. forces based in the Philippines are allowed to operate.

Obama's call to King Abdullah of Saudi Arabia concerned the "the need to coordinate international efforts to restore economic growth" in advance of the G20 summit in London next month, the White House said.






"

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KHOODEELAAR! diagnosis of Quantitative Faking is echoed by London INDEPENDENT, 8 days later....

0058 Hrs GMT London Saturday 14 March 2009: KHOODEELAAR! TOLD YOU SO! 8 days ago on 5 March 2009, we described ‘Quantitative Easing’ as ‘Quantitative Faking’.… Eight days later, today’s London daily the INDEPENDENT reports that a lot of the ‘Quantitatively eased Bank-Of-England’ money is going abroad.…This is followed by the BBC broadcasting an interview with Will Hutton, who served as a persistent cheerleader for Tony Blair’s own fallacies for years, being labelled an ‘Economist’ [rather than as a ‘workers’ institute’ promoter, which had been how the BBC ‘presented’ Will Hutton for years] and pitying Gordon Brown.…. Both the INDEPENDENT report and the particular words and phrases uttered by Will Hutton in effect vindicate KHOODEELAAR! analysis.… Yet none of them will admit that... Just as none of them will admit that Khoodeelaar! has been right all along about CRASSrail as well... THAT is the real pity.… Because of their congenital prejudice and ignorance they would rather go along with the monumental British-vaah-loos folly entailing the otherwise avoidable wastes of £Billions of public money......[To be continued]

THIS IS WHAT we had pubished on 5 March 2009
1235 GMT London Thursday 5 March 2009:
KHOODEELAAR! TOLD YOU SO! Faking it won’t do... Quantitative Easing is actually faking. Faking the state of the economy. Faking the finance. Faking the state of business [!]… Faking the Gross Domestic Product.. Faking the numbers of people out of paid work... Faking the state and the mood of society..And peoples’ ‘economic behavior’.... Faking it as the Guardian persist in doing.… As is evident in the Guardian’s resident peddler of the positive myths around Ken Livingstone shows, they are at least one day behind KHOODEELAAR! even when it comes to observing related 'evidence' spotted on the Times web site a day earlier.…And when the Guardian does catch up, it cannot still tell the truth.. Whereas KHOODEELAAR! described Boris Johnson’s desperate Behavior as the Crossrail levy-collector by comparing him with Ken Livingstone as a City of London, Crossrail agenda tout, the Guardian puts on a gloss on the image of Ken Livingstone and casts Boris Johnson as an almost uncritical 'inheritor' of Livingstone's ‘legacy’.…Even when the ‘legacies’ are exposed as being huge wasters of resource and unwanted by the economy and the public, in the UK.…. The Guardian will never catch up with the truth.. And by the looks of things, nor will any of Boris Johnson’s peddlers... Even when the Guardian is reduced to rely on two quotes from the City of London’s promoter at the TIMES, and even when this latest evidence totally vindicates the KHOODEELAAR! analysis, the Guardian fails to recognise that Crossrail is crass and that its latest peddler Boris Johnson is behaving in an undeniably crass way... Thus proving that no amount of peddling can make Crossrail anything other than what it is - an imposed scam cooked up in its current form by Big Business interests fronted by BECHTEL Corp of the USA...…
[To be continued]

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