Majorityrights News > Category: Economics & Finance

... but, of course, it’s all just a consultation process with absolutely no set agenda.  Nothing to do with Davos, no no.  Perfectly sensible, really, when cash use is falling (actually it’s rising) and when the economy is digitising (even if Sterling fully meets that requirement already).  And, of course, expectations that the new currency will be, y’know, programmable are just conspiracy theories.  Naturally.  I mean, who would think that any freedom-loving, not at all totalitarian and globalist Western government could ever contemplate, oh, say freezing peoples’ bank accounts?

Here is the meat of the DT’s characteristically anodyne article:

‘Digital pound’ possible by 2030 in bid to combat falling use of cash
State-backed virtual currency ‘likely’ as Bank of England and Treasury back ‘Britcoin’ project

The Bank of England and Treasury will next week throw their weight behind a “digital pound” as they set out a roadmap to introduce a new central bank currency by 2030.

Andrew Bailey and Jeremy Hunt are expected to say it is “likely” that a new form of money will be needed as cash use continues to decline in an increasingly digital economy.

It is understood that any new state-backed digital currency – which has been dubbed “Britcoin” in the press - would sit alongside cash. However, the plans are likely to fuel fears that physical currency could one day be phased out altogether.

The decision by Mr Hunt and Mr Bailey to throw their weight behind the project comes almost two years after Prime Minister Rishi Sunak set up a taskforce as Chancellor to explore whether to create a so-called central bank digital currency (CBDC).

“On the basis of our work to date, the Bank of England and HM Treasury judge that it is likely a digital pound will be needed in the future,” the Bank of England Governor and current Chancellor say in extracts of a consultation paper seen by The Telegraph.

“It is too early to commit to build the infrastructure for one, but we are convinced that further preparatory work is justified,” Mr Hunt and Mr Bailey will say ...

The Bank and Treasury will launch a four-month consultation in which businesses, academics and the wider public will be invited to share their views on the launch of a digital pound ...

Officials have identified 2025 as “the earliest” date the Bank could start building and testing a currency prototype. No decision on whether to go ahead with a CBDC is expected until then. The Bank has previously said that the earliest date for launch of a UK CBDC was “the second half of the decade”.

Other countries are already trialling national digital currencies, with China an early trailblazer. Trials of the digital renminbi first began in 2021.

Will it transpire that the British public - the real one, ethnically - will stand and fight government for its money and economic freedom, and for its ancient civil rights in a way it has signally failed to do for its own life and land?  Could be.

Christine Anderson, German MEP and AfD member, making a speech last Tuesday burning with righteous indignation at the European Parliament’s plan to impose a digital green pass to gain access to its buildings.  The pass comes into effect on Wednesday 3rd November.  Just five other MEPs protested with her.

Text:

It is not the goal that renders the system oppressive; it is always the methods by which the goal is pursued.

Whenever a government claims to have the people’s interest at heart, you need to think again.

In the entire history of mankind, there has never been a political elite sincerely concerned about the well-being of regular people. What makes any of us think that it is different now?

If the Age of Enlightenment has brought forth anything, it is certainly this: Never take anything any government tells you at face value. Always question everything any government does or does not do. Always look for ulterior motives and always ask: Cui bono? Who benefits?

Whenever a political elite pushes an agenda this hard, and resort to extortion and manipulation to get their way, you can almost always be sure your benefit is definitely not what they have at heart.

As far as I am concerned, I will not be vaccinated with anything that has not been properly vetted and tested, and has shown no sound scientific evidence that the benefits outweigh the disease itself and possible long-term side effects, which to this day we don’t know anything about.

I will not be reduced to a mere guinea pig by getting vaccinated with an experimental drug. And I will most assuredly not get vaccinated because my government tells me to, and promises in return I will be granted freedom.

Let’s be clear about one thing: no one “grants” me freedom, for I am a free person.

So I dare the European Commission and the German government: Throw me in jail, lock me up and throw away the key, for all I care. But you will never be able to coerce me into being vaccinated if I, the free citizen, choose not to be vaccinated.

The government imposed freeze on economic activity, otherwise known as lockdown, is shrinking the employment market to the extent that ...

Plunge in foreign-born workers as Covid destroys jobs
Unemployment surges to 4.8pc while redundancies soar by 181,000 in the three months to September

The number of foreign-born workers employed in the UK fell by almost 600,000 in the past year as Covid laid waste to the jobs market and sparked an exodus of migrants.

There are now 765,000 fewer people of working age born abroad in Britain than there were a year ago, with a bigger fall in those from the EU than those from the rest of the world.

... The fall in workers from the EU14 - nations such as France and Germany - in the UK is similar to the drop seen during the financial crisis.

However, a far greater share of those from the EU8, which covers more workers from Eastern European nations including Poland, have been affected.

... The UK’s reliance on foreign employees acts as a “safety valve”, said Martin Beck at Oxford Economics, sucking in workers when the economy is doing well, and shedding them again in downturns.

“It keeps the unemployment rate down - people are losing their jobs but are not adding to the unemployment rolls. It is a stabilising force for the jobs market. It is bad to lose those jobs, but the fiscal cost is not being borne by the UK taxpayer,” he said.

It means unemployment is unlikely to rise as high as 7pc by the end of the year, or to meet the gloomier predictions of 10pc or more in 2021, he said, because the fall in foreign-born workers over the past year has already reduced the workforce by as much as 2pc.

“I would expect those people to come back if things do recover quickly and get back to normal, Brexit permitting,” said Mr Beck.

Overall, firms laid off 181,000 people between July and September, pushing the total to 314,000.  Experimental figures also suggested an extra 33,000 employees shed from company payrolls in October, signalling 782,000 fewer people in work compared to pre-pandemic March.

The DT reports on an ONS survey into the reducing pay-gap between “white” people and “BAME ethnic minorities” (they are not ethnic minorities, of course, because they are foreign colonisers; and we are not merely white, we are the native British).

The pay gap between white and ethnic minority employees continues to fall and has reached its smallest level for seven years, the Office for National Statistics (ONS) has found. Researchers found there was a 2.3 per cent gap in earnings between white and ethnic minority employees in England and Wales in 2019.

White employees earned on average £12.40 per hour, compared with £12.11 for those in 17 ethnic minority groups on average.

... Ethnic minority employees aged 30 and over tend to earn less than their white counterparts, while those aged 16-29 tend to earn more, the ONS research showed.

This year, the ONS found that Chinese, white Irish, white and Asian and Indian ethnicities earned more on average than white British employees between 2012 and 2019. However, most ethnic groups, including Bangladeshi, Pakistani and Arab, consistently earned less than white British employees over the same period.

The biggest gaps were between Pakistani workers (£10.55 per hour) and white British (£12.49 per hour), while white Irish workers earned £17.55 per hour on average.

Taking into account factors such as age, sex, marital status, children, qualifications, country of birth and location of employees narrows the gap for many ethnic groups, the ONS found.

... It found the gap is larger for men than women, although men earn more than women across most ethnic groups. In 2019, ethnic minority men earned 6.1 per cent less than white men, while the hourly pay of ethnic minority women was 2.1% more than white women.

That difference was most pronounced in London, at 23.8 per cent, and smallest in Wales, at 1.4 per cent, the ONS, which analysed data on earnings from the Annual Population Survey, said.

“It almost passes belief that at this moment 20 or 30 additional immigrant children are arriving from overseas in Wolverhampton alone every week - and that means 15 or 20 additional families a decade or two hence. Those whom the gods wish to destroy, they first make mad. We must be mad, literally mad, as a nation to be permitting the annual inflow of some 50,000 dependants, who are for the most part the material of the future growth of the immigrant-descended population. It is like watching a nation busily engaged in heaping up its own funeral pyre. So insane are we that we actually permit unmarried persons to immigrate for the purpose of founding a family with spouses and fiancés whom they have never seen.”
- Enoch Powell, from his famous speech to a Conservative Association meeting in Birmingham on April 20 1968.

Interview with former Georgia congresswoman Cynthia McKinney, who details the pledge of allegiance to Israel she was ordered to sign to serve as a lawmaker in America.

INTERVIEW WITH CYNTHIA MCKINNEY STARTS AT 38.50

EBL 31: Michel Foucault “The Birth of Biopolitics” (with Alex McNabb)

Thamster WitNat
2.96K subscribers

The EBL crew is joined by special guest Alex McNabb for a discussion of Michel Foucault’s 1978-79 series of lectures titled “The Birth of Biopolitics”. The crew examines facets of neoliberalism in the light of Foucault’s classic treatise

I stopped reading Foucault after the first book of his that I read, The History of Sexuality: The Use of Pleasure.

I was intrigued by the title, which indicated a classical Epicurean inquiry, a worthy avenue it seemed to me. However, except for the provocatively useful, but un-elaborated upon term, “bio-power”, there wasn’t much that i found to be of use in the text. On the contrary, I found him coming back repeatedly to the idea that (some) ancient Greeks (allegedly) considered homosexual pedophilia normal as transparent justification for his own predilection among this contextual relativization of history.

Even so, the term “bio-power” provides a clue as to an angle that can be used in inquiry and warning as to how it is that Africans can be a danger, i.e., not merely antagonistic, but having capacity, dangerous capability ...e.g., as a people some 200,000 years evolved prior to and thus compared to the precarious 41,000 years of European evolution.

There are several advantages to this angle which I will not elaborate on, but only add that it helps to mitigate against the Nazophiles who try to minimize black antagonism, looking upon themselves and their singular concern for the J.Q. as the ultimate in sophistication (and not naivete).

It also goes to show that sometimes a book a thousand pages long can be justified by one term or even the title.

While I had always meant to read Foucault’s most important books, Discipline and Punish and Birth of the Clinic for the provocative angles that Foucault takes on social problems, I never got around to it having been turned off enough by Foucault’s pedophilia apologetics and having read enough people quoting the texts to get the idea…

Josh Neal, Alex McNabb, Jefferson Lee and Thampster have a discussion in and about Foucault having apparently been provoked by the same term - bio-poltics/bio-power - and finding the same thing, the Foucault does not elaborate.

However, they have a decent discussion in and about what Foucault’s lecture on bio-politics does talk about - neo-liberalism…

....“the market (and its infamous ‘magic hand’) becomes the space of truth.”

....while the panel ventures some into Birth of The Clinic and Discipline and Punish.

Again, I’m not endorsing Foucault but he does provide provocative angles, prompting ways to think about power relations and their historical context in the determination of how social problems come to count.