In Hungary, in the year of 2009, in the midst of the worldwide financial crisis, the profit of the Hungarian bank-system was the double of profits acquired in Western countries.
Why it is not allowed for the state, as the owner, to have influence on the control of the monetary system, even if the bank-system expected help from it during the crisis already?
It turned out that in China, where the state controls the central bank, they could keep the balance even in hardest times: there is no inflation and their economy’s growth is about 10 percent. Problems were proven to be controllable. The Hungarian National Bank’s independence from its owner should be cancelled, as the members of Monetary Council are simply appointed bureaucrats who bear no political responsibility to citizens.
The European Union is the institute of the plutocratic world-elite. I cannot emphasize enough that the European Union is an unnecessary institute. Peoples of Europe does not need an over-bureaucratized and expensive imperial structure. The advantages of the Union – the free flow of production, products, information and ideas, the breaking up of national borders – could be effectively achieved without an imperial hydrocephalus, by the bi- or multilateral cooperation of states.
The European Union is needed not by the peoples of Europe, but by the world-ruling elite. It is the transnational monetary cartel holding power over states that wants to get rid of national states by all means, because they, due to their claim to sovereignty, can quit from plutocratic world-order at any time.
Hungary’s national debt and its payment has strangled the country. Let’s take a simple example: from the 10 000 million USD loan taken between 1970 and 1989, only 1000 million USD came actually into the country, it can be looked up in HNB’s Internal Reports. Till 1989 we paid 11 000 million USD as interest for this 1000 million USD. Our debt has grown to 270 000 million USD by now. We have already paid 107 000 million USD as interest.
The country paid back 27 times the loan, and if we proceed the same way, then we will have to pay back 120 times the original sum, that is impossible. It amounts to liquidating our national economy and the nation itself. It is impossible to bear the burden of debt and pay back the loan and its interests for a millennia. In whose favour is this nonsense?
Why it is not allowed for the state, as the owner, to have influence on the control of the monetary system, even if the bank-system expected help from it during the crisis already?
It turned out that in China, where the state controls the central bank, they could keep the balance even in hardest times: there is no inflation and their economy’s growth is about 10 percent. Problems were proven to be controllable. The Hungarian National Bank’s independence from its owner should be cancelled, as the members of Monetary Council are simply appointed bureaucrats who bear no political responsibility to citizens.
The European Union is the institute of the plutocratic world-elite. I cannot emphasize enough that the European Union is an unnecessary institute. Peoples of Europe does not need an over-bureaucratized and expensive imperial structure. The advantages of the Union – the free flow of production, products, information and ideas, the breaking up of national borders – could be effectively achieved without an imperial hydrocephalus, by the bi- or multilateral cooperation of states.
The European Union is needed not by the peoples of Europe, but by the world-ruling elite. It is the transnational monetary cartel holding power over states that wants to get rid of national states by all means, because they, due to their claim to sovereignty, can quit from plutocratic world-order at any time.
Hungary’s national debt and its payment has strangled the country. Let’s take a simple example: from the 10 000 million USD loan taken between 1970 and 1989, only 1000 million USD came actually into the country, it can be looked up in HNB’s Internal Reports. Till 1989 we paid 11 000 million USD as interest for this 1000 million USD. Our debt has grown to 270 000 million USD by now. We have already paid 107 000 million USD as interest.
The country paid back 27 times the loan, and if we proceed the same way, then we will have to pay back 120 times the original sum, that is impossible. It amounts to liquidating our national economy and the nation itself. It is impossible to bear the burden of debt and pay back the loan and its interests for a millennia. In whose favour is this nonsense?
