Brown Bankrupting Britain

This analysis presents the current status of Britain's path towards bankruptcy which I first pointed out in April 2008 which followed the Bank of England's initial offering of a £50 billion slush fund to the banks that would never be repaid and marked the tip of the bank bailout ice-berg.

NEW Tax Payer Liabilities

* £400 billion for the purchase of Toxic Assets
* £100 billion for the Bank of England to print money.
* £10 billion for the Northern Rock Black hole

This is on top of the £700 billion already committed which takes the total now to approximately £1,200 trillion, set this again official Public sector net debt of about £700 billion then this gives one a scale of the magnitude of the exploding tax payer liabilities that risk the bankruptcy of Britain which would play itself out in the form of government debt default and a currency crash, as warned of in Novembers analysis - Bankrupt Britain Trending Towards Hyper-Inflation? More