How Gordon Brown just lost another £21 billion pounds

Gordon Brown’s spectacular gold trade in which he lost £6 billion pounds, paled into insignificance this week, when the British government gave the ‘good’ part of the nationalised Northern Rock to their friend Richard Branson for a rock bottom bonus price, and left the ‘bad’ part (basically, the worthless part) stuck on the taxpayer. British taxpayers were forced to sink £21 billion pounds into this abyss to help buy Gordon Brown a few more months in power, a few years ago.

British taxpayers will never again see a penny of this £21 billion.

So if we add Gordon Brown’s Northern Rock trade to his gold trade, that gives us losses of £27 billion pounds, all down to the gargantuan hubris and monumental arrogance of this revolting Stalinist politician.

It gets better, because in 2008 the Telegraph reckoned that eventually, because of all sorts of Enron-style guarantees, the taxpayer could eventually be stuck for £50 billion pounds, all of it pledged by Brown to help save his Labour MP friends in Newcastle, and to keep his rotten premiership going a little while longer, when Northern Rock originally collapsed.

No doubt, Brown is still flying first class everywhere at our expense, and picking up an enormous pension paid for by us.

Lucky us.

This disgusting Northern Rock trade is detailed below in the latest Max Keiser show:

Here’s the blurb:

“This week Max Keiser and co-host, Stacy Herbert, discuss the Koch Brothers and MF Global and Northern Rock and Richard Branson’s blonde hair and big, shiny teeth. In the second half of the show, Max talks to independent radio journalist Richard Thomas about Occupy LSX, poll tax riots and financial apartheid.”

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About Andy Duncan

An Austrian Internet Vigilante trying to live Outside the Asylum
This entry was posted in Austrian Economics and tagged , , , , . Bookmark the permalink.

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