Ten questions for stunned trans-Atlantic elites
John Redwood MP has 10 questions for stunned elites who have no idea why people distrust and, in some cases, despise them. Perhaps someone could offer some answers?
So, let's have the answers to this lot. Are there in fact any satisfactory answers?
1) Why did you let the banks expand credit far too much prior to 2007?
2) Why did you bring several banks down by refusing liquidity and not backing schemes for bank recovery, leaving others badly wounded in 2007-8?
3) Why have you gone for Quantitative easing and ultra low rates, which damages small savers and helps the super rich at the expense of everyone else?
4) Why didn’t you get on with the task of encouraging and enforcing recapitalisation of the banks so we can have a normal credit creating system again capable of financing recovery?
5) Why did you bring down a dictator in Libya without having a plan to rebuild a better government and society?
6) Why did you go to war in Iraq?
7) Whose side are you on in the Syrian civil war, and how is western military action helping?
8) Can you bomb people into accepting democracy?
9) Why did you back the Exchange Rate Mechanism, the Euro, the Remain campaign and the Clinton campaign, and what do you think of how they have done?
10) Why should people trust the economic and political judgments of the World Bank, the EU, the IMF, the Bank of England and the rest when they have got so many forecasts wrong?
Answers, please, on a postcard.
Mr. Redwood's writing is re-posted here by his kind permission. This and other articles are available at johnredwoodsdiary.com
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