Bilderberger George Osbourne to Hand Over Supervision of 'The City' to Rothschild Controlled Bank of England

George Osborne will risk a schism with the Liberal Democrats when he strips the Financial Services Authority of the majority of its powers in a shakeup of City regulation to be announced later this month.

The chancellor will use his Mansion House speech on 16 June to give the Bank of England the pivotal role in preventing a rerun of the financial crisis of the last three years.

Government sources said Osborne would use his speech, one of the big set piece events of the financial calendar, to "put flesh on the bones" of the coalition agreement on financial regulation. This called for the Bank of England to be given the control of macroprudential regulation supervision, a "big picture" assessment of prevailing conditions in the City, together with an important say in the supervision of individual banks.'

Read more...