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Old July 23rd, 2009 #1
Alex Linder
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Default BNP's Economic Policy

[Igor Alexander linked to this in another thread; I think it's worthy of discussion in its own thread.]

The Global Financial Crisis and the Vindication of Economic Nationalism

October 21, 2008 by George Fanning

The present global financial crisis will not have come as a surprise to anyone who has ever attended a British National Party meeting. For years, BNP party chairman Nick Griffin has been warning his audiences about the perils of the unsustainable credit bubble and the inevitable reckoning to follow.

The ‘credit crunch’ and the resultant banking collapse have utterly discredited the twin doctrines of globalisation and unrestrained international capitalism. There is now likely to be a period of fierce competition between different ideas about what should take their place. Indeed, there is even a risk that we may now witness a resurgence of sterile Marxist-Leninist economics, as old-fashioned state socialists try to portray their bankrupt theories as the only possible alternative to “red in tooth and claw” capitalism.

In fact, there is a coherent and intellectually rigorous alternative to the false dichotomy between Marx and Capital, in the form of Economic Nationalism, the economic system favoured by the British National Party. Economic Nationalism is not a new concept; it has been tried and tested and, especially in South-East Asia, it has proved hugely successful. South Korea, Taiwan and Malaysia all sustained spectacular rates of economic growth for decades, by pursuing versions of the Economic Nationalist model.

Under the doctrine of Economic Nationalism, a British Nationalist government would allow small and medium enterprises (SMEs) a high degree of freedom, whilst at the same time intervening robustly in the affairs of large corporations to ensure they align their business strategies with the British national interest. Strategically important industries in sectors such as Aerospace and Electronics would be encouraged to invest in research and development and to export aggressively from behind protective tariff barriers. Strong share market regulation would ensure that major British enterprises would be owned and controlled exclusively by British people. In South Korea, similar policies led to the emergence of world-class Korean enterprises such as Hyundai and Samsung, which both promoted Korean national interests and actually manufactured high quality industrial products of real value to ordinary people!

A British Nationalist government would encourage alternative forms of enterprise to develop in a mixed economy alongside traditional private limited companies. Under a Nationalist administration, we would certainly see a resurgence of regional building societies, workers’ cooperatives and successful trust companies like the John Lewis organisation.

The financial services sector, in particular, desperately needs to be re-organised along Economic Nationalist principles. The credit crunch and the banking crisis have stemmed directly from a gross failure of financial services regulation. Other than the bankers and City spivs themselves, nobody bears a greater share of the blame for the financial disaster than the Financial Services Authority (FSA). The FSA was Gordon Brown’s pet creature and he placed huge reliance on it as the financial regulator of choice, taking over many of the traditional responsibilities of the Bank of England. For years, the FSA vomited out vast forests of vague “principles-based” regulation, which firms were expected to interpret themselves, with little or no assistance from an unresponsive and irresponsible FSA. Not surprisingly, the result was an anarchic free-for-all in financial services. A future Nationalist government would abolish the FSA and rip up all the “principles-based” guidance issued by it. All this failed regulation must be replaced by a detailed and specific rules-based regulatory structure, strongly entrenched in statute law.

The City originally invented mortgage-backed securities, derivatives and other complex instruments in a genuine attempt to serve the need of legitimate business to hedge and defray real trading risks. But the system evolved into institutional abuse when the dealing of such instruments became a business objective in itself. As the financial instruments grew more complex and opaque, senior bank executives also became progressively more negligent in their failure to understand the so-called “products” they were marketing. The banks’ risk management models and internal controls proved incapable of identifying and managing the toxic risks inherent in their own financial instruments. It is now time for this market in madness to be consigned to history. The City of London must rediscover its roots as the servant, not the master, of manufacturing industry, which should be the prime source of wealth creation in any modern economy.

Under a future British Nationalist government, a specific statutory framework would be developed to dictate not only the banks’ minimum capital requirements, but also the specific instruments permitted to be sold. Furthermore, a British Nationalist government would maintain proprietary shareholder stakes in all the major banks, and appoint Compliance Directors to the banks’ Audit & Risk Committees, to ensure both that effective internal controls are in place, and that the statutory regulations are being observed.

Unlike stale Marxist economics, Economic Nationalism has a proven record of successful wealth-creation on a massive scale. Unlike Global Capitalism, Economic Nationalism will allow this wealth to be distributed fairly within the British Nation, rather than being monopolised by a tiny international elite.

In the realm of economic policy, as with immigration and Multiculturalism, the BNP has proved it is capable of diagnosing the ills of our age and forecasting the resulting crises years in advance. But the party also promotes credible Nationalist remedies, which alone can promise a prosperous future for our children.
 
Old July 23rd, 2009 #2
Kievsky
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It's a fact that mainstream politicians and the mass media mostly ignore real problems, or gloss over them, or make fun of them.

Nick Griffin has been focusing on the real problems and talking about them, educating the BNP members on them, and keeping up to date on them, from the problems of globalization to Peak Oil.

Here's a reference to the BNP in the Energy Bulletin blog:

Quote:
http://www.energybulletin.net/print/49369

War socialist ideas are also in the news in Great Britain where the British National Party won seats in the European Parliament. This case is interesting because the BNP is explicit about the danger of peak oil and the world of shrinking resources we can expect. Some of its prescriptions sound harsh, and others seem enlightened. The party has been trying to repackage itself with difficulty because of its racist, right-wing heritage. The basic BNP response is increased self-sufficiency and isolation: 1) a military which defends Great Britain and doesn't seek foreign adventures, 2) a halt to immigration, 3) deportation of illegals and noncitizen criminals, 4) a devolution of power to local governments, 5) a reversal of the privatization of British rails and new investment to expand public transportation, 6) a selective withdrawal from the global economy and increased local manufacturing, 7) food self-sufficiency based on organic methods, and 8) cooperative ownership of power production (with wind given as a primary example).

The BNP website no longer makes it sound like a party that fits neatly within the reactionary right (though in practice its emphasis on a "white" Britain remains central). Still, some of its ideas are actually quite close to those described by Hanson as war socialism. What's not in view is an aggressive foreign and military policy designed to extract resources from competing nations, something that Britain's major parties clearly embrace. The BNP, which is a minor party, is relevant to British politics because major parties often neutralize minor ones by co-opting their ideas. And, Britain is actually further along the war socialism path than the United States.
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Old July 24th, 2009 #3
Mike Parker
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I detest BNP's Zionism but this article is excellent.

Quote:
Originally Posted by Alex Linder View Post
The ‘credit crunch’ and the resultant banking collapse have utterly discredited the twin doctrines of globalisation and unrestrained international capitalism.
It does seem the Commanding Heights are no more. Too bad it took so much carnage.

Quote:
Economic Nationalism is not a new concept; it has been tried and tested and, especially in South-East Asia, it has proved hugely successful.
In Germany before that, Nick.

Quote:
The FSA was Gordon Brown’s pet creature and he placed huge reliance on it as the financial regulator of choice, taking over many of the traditional responsibilities of the Bank of England.
Or was it the other way around?

Quote:
The City originally invented mortgage-backed securities, derivatives and other complex instruments in a genuine attempt to serve the need of legitimate business to hedge and defray real trading risks.
I think they actually swiped them from Wall Street. It was always about higher bank profits on less capital.

Quote:
The banks’ risk management models and internal controls proved incapable of identifying and managing the toxic risks inherent in their own financial instruments.
There's an immigration tie-in: risk management is full of Asians.
 
Old July 24th, 2009 #4
MarkP
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Typical British deviousness.

Once again Making Capital.

On this occasion - out of the 'banking' crisis.
 
Old July 24th, 2009 #5
Igor Alexander
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Quote:
7) food self-sufficiency based on organic methods, and 8) cooperative ownership of power production (with wind given as a primary example).
Sounds like the BNP are trying to muscle in on the Green Party's turf (not that I have anything against traditional farming methods; as far as power, I'd favor nuclear over wind, though).
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Old July 25th, 2009 #6
Mr Murray
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Quote:
Originally Posted by Igor Alexander View Post
Sounds like the BNP are trying to muscle in on the Green Party's turf
Well someone has to.

The Green party: Green on the outside, red on the inside.

http://www.greenparty.org.uk/assets/...festo_2009.pdf

Quote:
"We reject the use of immigration as a
political issue to mask problems such as a
lack of high-quality social housing or poor
government planning and response to
changing needs at the local level."


According to the CIA World Fact Book the UK, despite having an efficient agriculture system, still has to import 40% of it's food needs. This should tell even the tardiest of libtards that the county is overpopulated and more immigration is insane.

Quote:
"We also believe that it should be possible
for non-EU nationals to change their
migration status so as to keep them within
the law and prevent the splitting of families
because one partner has an irregular
status. We support regularisation
measures, such as those proposed by
London Citizens. We have won a majority
view from the European Parliament that a
legal status must be provided for people
who have not succeeded in their claim for
humanitarian protection but who cannot be
returned to their country of origin due to
the political situation there. It is not right to
use destitution as a measure to force
return."


AKA = Asylum for illegals and their whole sodding families.

The BNP's 'green' website:

http://landandpeople.bnp.org.uk/
 
Old July 25th, 2009 #7
reo
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BNP there to steal the grassroots away from real activists. Many proto-racists can have their development stunted by these guys. Griffin acted the Neo-nazi just to get in and then turned around and unleashed his Zionist purge.
 
Old July 26th, 2009 #8
Mr Murray
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Quote:
Originally Posted by reo View Post
BNP there to steal the grassroots away from real activists. Many proto-racists can have their development stunted by these guys. Griffin acted the Neo-nazi just to get in and then turned around and unleashed his Zionist purge.
Yes of course dear boy. Now here's a quarter, go play on the highway.
 
Old July 26th, 2009 #9
MarkP
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Quote:
Originally Posted by reo View Post
BNP there to steal the grassroots away from real activists. Many proto-racists can have their development stunted by these guys. Griffin acted the Neo-nazi just to get in and then turned around and unleashed his Zionist purge.
Makes a lot of sense.
 
Old July 26th, 2009 #10
Mr Murray
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Quote:
Originally Posted by MarkP View Post
Makes a lot of sense.
Yes it does. To WN keyboard jockeys with zero political experience.
 
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