Anomalies and Hopes

BRIGHTEVERYDAY Anomalies and Hopes

For people to feel empowered and respected there must be evidential proof of this state.

Ask ourselves, in the current crisis if that is the state. There are some simple truths. The Government had been swift to announce sweeping measures to help businesses of all sizes and introduced Grants and “Furloughing” of wages. To help in this the Main Banks were to supply Loans which would be supported by a Government Guarantee. These were to help businesses in the short term to manage their affairs and offset any cashflow or capital difficulties. After receiving 130,000 applications only 1000 were approved and processed. Many applicants were complaining that they were asked for Personal Guarantees and were being charged outrageous interest rates up to 30%. Now, at a time when the Bank of England Base rate is 0.1%, I would expect this to immediately prompt a Parliamentary Inquiry into the old bad behaviour of the Banks and not just stern words from the Chancellor reminding us what we as a Nation did for them in the crisis of 2008. Did many not behave like casino-crazed, seasoned gamblers, then brought financial ruin to many individuals and groups? Did it not seriously affect society generally? Was there not a dearth of remorse, of prosecutions and a Public Inquiry into their behaviour and the immeasurable hardships suffered by all over a prolonged period? They seem embedded in a culture of a condescending superiority, arrogance, tyranny, and fear. It permeates the Industry of Finance and Banking and is wholly corruptive to society at large.

Not much has changed it seems. So, we are all to work together to get through this Pandemic which has claimed so many lives and brought grief to a Nation? Ask the principal protagonists and our Government to confirm the rate of interest paid by them, (The Banks), to save them from the abyss. Did we make them wait for the funding required to save them and their shareholders or were the Bank Directors asked for a Personal Guarantee? Did they feel humiliated? We, the people of this nation, were stakeholders in supporting their cash-stripped (not strapped!) Banks and saving them from bankruptcy. What short memories they have and what bad behaviours seems endemic to much of that Industry. Well, time for change for them many other outdated and unworthy and untrustworthy “Institutions”.

Time is now for a Nation Bank owned by the State, the citizens of the country being Stakeholders of course, and at 0.1% which is the rate the Bank of England lends to other banks and lenders, there is surely not a more appropriate time. Rather than nationalise part of the banking sector, let us examine an alternative, acting for the ordinary people of this country and see how much it impacts on the banking world! Surely the Nation Bank could compete on the rates of interest for those looking to borrow, deposit and invest. Is this not a fair and equitable way to reward all people in this time of great challenge and human sacrifice? The aftermath of this Pandemic will not be a gradual return to where we were before, but to involve all individuals to feel part of the rebuilding and nurture a feeling of collective pride and hope. It will be an enduring legacy to those who showed such dedication and commitment risking their lives to save lives. It will also honour those who paid the ultimate sacrifice and allow us to share in a new and bright future nurturing social equality. It is so needed and so long overdue!

Now is a poignant and particularly proper time to ask ourselves where we are going at such a speed. Ask ourselves, are we living the life we want and are we giving of our time to others. There is much selfishness in many quarters and we as individuals have the freedom to re-examine our social obligations, make our own choices, and not be “herded” to a false truth enshrined in uncontrollable consumerism. Do not think Globalisation is your friend or about interconnecting people, rather it is a vicious process of subordination. It is not about interconnecting people but quite opposite! It promotes global inequality and servitude but fear not, it is soon to be consumed by its own toxicity. There are many who believe in minimising economic entanglement between nations and, is there really such a thing as free trade? I think we should distance ourselves from such ideology and escape the social, political, and economic chaos it leaves in its wake. Once again, it is time for change. Surely, we must look at revitalising our manufacturing and industrial base and protect our physical and intellectual property. We should look to preserve our industries and commerce from plundering hostile and non-hostile raiders. After all, people invest their skills and their lives in support of them and their rights. They should be protected (and respected), as much as shareholders and owners, as partners in that process. Consider the efforts of people in a working life, their aspirations, diligence, and the hope in sharing together the rewards of a bright and sustainable future.