As I've mentioned, Nigel Farage of UKIP (an MEP) loves to attack
Barosso, Van Rumpboy and other unelected pencil-pushers.
However, because he's an ex-banker, he forgets to mention
who's responsible for most of the mess. His banking buddies.
IshitUnot: king world
Nigel Farage: There Are Going to Be Serious Banking Collapses
With escalating fears regarding the stability of the eurozone, today King World News interviewed former LBMA commodities broker and trader and current MEP Nigel Farage to get his take on the situation. Farage had some very interesting comments regarding the Italians moving large quantities of gold to Switzerland, but when KWN asked about the chaos in Europe, Farage stated, “Well, so far, from all of the European officials and from the new IMF branch office in Washington, we’ve had unanimity that there was no prospect, at any stage, of the euro being under threat.”
“Suddenly, a big shot from the IMF says, ‘There is a problem here, and there may be a breakup of the eurozone. It could come sooner than you think.’ I see that as a bit of a crack in the dam. They’ve always used the argument that the euro was inevitable and it was here to stay, and an individual from the IMF has just completely blown that out of the water. ....
Thursday 31 May 2012
German banks admit guilt, indirectly
Things are so bad these days that business analysts are
indirectly blaming themselves for the decay in the markets.
They're doing it because they're sociopaths, and don't realise
they're responsible.
There's no money to lend to small businesses-
money is drying up at central banks. Why? where did it go?
We now know that Germany benefits from weak Euro, and thus
exports more. Add to that, the fact that German workers believed
their bosses' sob stories about the economy not being able
to withstand inflation. That was done to make German prices
more competitive, and for no other reason. So, German workers
have been tricked.
German workers got steady work because the German government
bribed foreign governments to buy their products and charged
it to German banks. Well, now their customers are bankrupt, helped
along by German banks robbing and stealing.
I'm also fairly confident in saying that the business income from these
international contract bribes has been sent off-shore. What does
offshoring profits mean? The German government can say, we've
had 3% growth, when it's actually 7%. Thus, they can convince
their logical workers to accept no wage increases.
IshitUnot: Bloomberg
Worst Yet to Come as Crisis Rescue Cash Ebbs, Deutsche Bank Says
By Katie Linsell - Apr 18, 2012 11:49 AM GMT+0300
The worst may be yet to come in the global financial crisis as the central bank spending that kept defaults low runs out, according to Deutsche Bank AG. (DBK)
Credit-default swap prices imply that four or more European nations may suffer so-called credit events such as having to restructure their debt, strategists led by Jim Reid and Nick Burns said in a note. The Markit iTraxx SovX Western Europe Index of contracts on 15 governments including Spain and Italy jumped 26 percent in the past month as the region’s crisis flared up.
The Deutsche Bank AG headquarters stand in Frankfurt.
indirectly blaming themselves for the decay in the markets.
They're doing it because they're sociopaths, and don't realise
they're responsible.
There's no money to lend to small businesses-
the banks are too busy gambling.
Governments have no money for education-
the banks borrowed it all
See what the idiots wrote below, where they talk about how bailout money is drying up at central banks. Why? where did it go?
We now know that Germany benefits from weak Euro, and thus
exports more. Add to that, the fact that German workers believed
their bosses' sob stories about the economy not being able
to withstand inflation. That was done to make German prices
more competitive, and for no other reason. So, German workers
have been tricked.
German workers got steady work because the German government
bribed foreign governments to buy their products and charged
it to German banks. Well, now their customers are bankrupt, helped
along by German banks robbing and stealing.
I'm also fairly confident in saying that the business income from these
international contract bribes has been sent off-shore. What does
offshoring profits mean? The German government can say, we've
had 3% growth, when it's actually 7%. Thus, they can convince
their logical workers to accept no wage increases.
IshitUnot: Bloomberg
Worst Yet to Come as Crisis Rescue Cash Ebbs, Deutsche Bank Says
By Katie Linsell - Apr 18, 2012 11:49 AM GMT+0300
The worst may be yet to come in the global financial crisis as the central bank spending that kept defaults low runs out, according to Deutsche Bank AG. (DBK)
Credit-default swap prices imply that four or more European nations may suffer so-called credit events such as having to restructure their debt, strategists led by Jim Reid and Nick Burns said in a note. The Markit iTraxx SovX Western Europe Index of contracts on 15 governments including Spain and Italy jumped 26 percent in the past month as the region’s crisis flared up.
The Deutsche Bank AG headquarters stand in Frankfurt.
Tuesday 29 May 2012
Charity industry is just one more 'Nigerian scam'
Reporting on story in the I paper, and one other, soon.
It tries to "blame" Live Aid for Africa's dependence on aid.
I got news for you.
Well, first of all, Africa's oligarchs get a lot of the money.
Those oligarchs are much like ours in that, when they get
that money , it goes to offshore locations and then on
to the gambling banks of London.
Anyway, here's the actual low-down on the sidelining
of African artists by Sir I Don't Like Africans, Bob Geldof
IshitUnot: daily mail
It tries to "blame" Live Aid for Africa's dependence on aid.
I got news for you.
Well, first of all, Africa's oligarchs get a lot of the money.
Those oligarchs are much like ours in that, when they get
that money , it goes to offshore locations and then on
to the gambling banks of London.
Anyway, here's the actual low-down on the sidelining
of African artists by Sir I Don't Like Africans, Bob Geldof
IshitUnot: daily mail
SPECIAL
REPORT: The corrosive legacy of Live Aid
By Ian
Birrell
UPDATED:
13:06, 4 June 2011
Like
most people of my generation, I can still recall with utmost clarity the moment
a bunch of denim-clad rockers strode on to the Wembley stage and struck up a
song that never seemed more fitting: Rockin' All Over The World.
With
those simple chords Status Quo launched Live Aid, supposedly the greatest
concert the world had ever seen.
Like
millions of people around the western world, I watched as Bono danced with an
audience member, Paul McCartney crooned a Beatles classic and Freddie Mercury
stole the show.
This
was, after all, more than just a concert.
It was
a collective act of global sympathy, the moment when some scruffy musicians
showed all those stuffy politicians the true meaning of compassion.
One
after another, those taking part claimed it was a day to change the world. And
they were right — they did change the world.
The
event was an amazing feat of organisation and an astonishing spectacle.
But
tragically for an event born out of heartfelt concern for people suffering in a
foreign land, it has had a negative impact. The more time passes, the more
clearly we see the corrosive legacy of Live Aid.
Few
should doubt the influence of that glorious summer day in 1985. We are governed
by politicians who define themselves as the Live Aid generation. Just listen to
the Prime Minister citing the concert for persuading him of the need to keep
pumping aid into the developing world.
'I
watched Live Aid,' he declared in a ringing defence of his controversial
insistence that the overseas aid budget should be given an extra £4 billion
over the next four years, despite spending cuts elsewhere.
David
Cameron is not alone in lauding Live Aid; both his Labour predecessors watched
the show and confessed to being influenced by it — Bob Geldof even called Tony
Blair the 'Live Aid Prime Minister' — as did U.S. Presidents Bill Clinton and
George Bush, plus scores of European leaders.
More
importantly, so did all their electorates, who responded so generously when Bob
Geldof pleaded for money.
But we
can now see how this event has backfired, despite the best of intentions. It
was founded on a misconception, promoted a patronising view of the world and
encouraged the idea that soundbites, stunts and simplistic gestures can heal
the most complex problems.
The
result is the triumph of cheap emotionalism and celebrity politics — and,
unfortunately, damage to the continent it sought to help.
The
signs were there from the start.
To
begin with, there was the lack
of African artists invited to perform at an event that urged the world not to ignore Africa.
There
was room for mediocrities such as the Welsh
singer Howard Jones and American soft-rocker
Kenny Loggins, but not for any of the great names from a continent that
pulsates with music. It is hard to envisage a bigger insult.
The
impact was twofold.
The
signs were there from the start. Kenny Loggins was invited - African artists
were not
First,
it was western acts such as Queen, U2
and Madonna who saw record sales soar into the stratosphere after a global
promotion to an audience counted in billions.
And
second, by denying African artists a platform, it demonstrated a mindset that
the West knows best
— that it is our voice that really counts, even when dealing with other
people's problems.
Such
superior attitudes have persistently dogged the aid lobby with consistently
detrimental effects for people they purport to help.
This
was compounded by Live8 two decades
later, proving that nothing had been learnt.
Such
an error could almost be forgiven once, but not twice.
Keith Richards, the Rolling Stones
guitarist and a man who understands the history of music, rightly refused to
play.
Not
again? Geldof, left, and Midge Ure repeated their mistake with Live 8 but this
time around people asked questions about
its motives
'Who's
this gratifying and where are the Africans?' he asked, before pointing out that
Geldof seemed to be the person coming
off best.
Another
critic was Baaba Maal,
Grammy-winning Senegalese singer and a widely-respected campaigner on education
and health.
'If
African artists aren't given a chance, how are they going to sell records and take the message back to Africa?'
he asked, adding that Africans were tired of people using the name of their continent without understanding
their needs.
So,
what about the issue that sparked the event — the heart-wrenching pictures of
those starving children in Ethiopia?
There
was a terrible famine, indeed, but
what we were not told was there was surplus food elsewhere in the country.
The
problems were largely man-made,
the legacy of civil war and brutal
policies pursued by a ruthless Marxist government.
The
programmes of forced resettlement and agricultural collectivisation were
similar to those pursued by Stalin
in Ukraine
in the Thirties and the result was the same — death, destruction and mass
hunger.
The
Dutch author Linda Polman has detailed the Live Aid effect in Ethiopia.
First,
thousands of Western aid workers and journalists flew into the country and were
forced to change money into local
currency at such high rates it fuelled the government's war machine.
Then
food aid was used to tempt starving
villagers into camps, with hundreds of thousands deported to state farms in
the south. One in six of those
forced to move died.
Only
one charity — the fearless French organisation Medicins Sans Frontières — refused to go along with the regime
after seeing 6,000
children die in a camp despite there being enough food.
All
the others, many funded by Live Aid, averted their gaze and, if questioned,
complained about the 'politicalisation' of aid.
Such
are the moral complexities of the aid business.
Similar
issues have been played out time and again, such as the period following the
Rwandan genocide when Western charities
ended up aiding some of the murderous gangs after they fled into the
Democratic Republic of Congo.
But
where is the appetite to examine such horrendously difficult issues in a world
in which politicians are influenced by the glib idea that a pop concert can
heal the globe's wounds?
Instead,
aid is a gimmick used by
politicians to underline their caring credentials.
Ministers
spew out statistics about the numbers of children we pay to educate in Africa
rather than examine whether this cascade of cash is fostering corruption, fracturing societies and encouraging a culture of
dependency — let alone whether it is helping or hindering development.
Live
Aid also encouraged the idea that self-important celebrities should set the
terms of public debate with their brow-beating brand of diplomacy.
So we
have seen President Bush alter American foreign policy when actors Mia Farrow
and George Clooney campaigned to save the people of Darfur.
And Geri Halliwell taken on by the United Nations to promote contraception and
safe sex.
Charities have grown fat riding the wave of compassion
sparked by Live Aid
Stars
such as Clooney, Angelina Jolie and Brad Pitt even sought the advice of Geldof
and Bono before embarking on activism.
The fact that Bono is a tax dodger while exhorting countries to
hand over more of their taxpayers' money does not seem to have diminished his
influence in the corridors of power.
Politicians,
of course, love rubbing shoulders with celebrities, hoping a little stardust
rubs off on their grey suits, so charities have learned that enlisting stars can
further their cause.
Meanwhile,
charities have grown fat riding the wave of compassion sparked by Live Aid. And
not just in this country.
Two decades ago there were just 46 foreign
and 24 local charities operating in Ethiopia. Today it is estimated there are close to
5,000 such bodies
working there, a near 200-fold increase — although Ethiopia remains one of the world's poorest
countries.
The
result is charities duplicating each other's work and impoverished countries
wasting time and money they can ill-afford meeting
the demands of their donors.
The
legacy of Geldof and Midge Ure is that we are handing over more in aid each
year, much of it spent by highly-dubious
governments or channelled through the swelling ranks of charities
One
study found the typical
African country had to churn out an incredible 10,000 donor reports each year
and host more than 1,000 visits by officials.
'It is
difficult to describe how surreal the industry begins to feel after you have
worked in Africa,' wrote Giles Bolton,
former head of Britain's aid
programme in Rwanda,
in his book Aid And Other Dirty Business.
...'When
you start to feel that the whole structure within which you're working is
incapable of achieving its aims, it's a hugely disillusioning moment,' he said.
Yet thanks
to the Live Aid legacy we are handing over more and more in aid each year, much
of it spent by highly-dubious
governments or channelled through the swelling ranks of charities.
This explosive growth of charities also
means fierce competition for funds as they seek to tap in to the public desire
to help. But endless doom-laden images of famine, war, poverty and disease
serve only to stereotype developing nations.
Good
news, of course, does not help their cause.
'If you're not negative enough, you
won't get funding,'
said the head of one major charity in Nairobi,
Kenya.
Presumably
this is why the city's
Kibera district, with an estimated 6,000 charities working there, was
said to have one million
people living in 'Africa's biggest slum' until
a census found less than one-fifth of that number. This means one charity
operating there for every 32 residents.
In
another telling incident, a former aid worker told me how she had been sent to investigate child exploitation
among cocoa plantations in West Africa but
found there was none.
Her report for one of the world's
best-known charities was buried,
however, and it still
launched a campaign on the issue.
This
constant drip-drip of negative imagery explains why a survey nearly two decades
after Live Aid found the event still exerted such a powerful grip on the nation's psyche, with
a majority of Britons associating the developing world with disaster and seeing
people there as 'helpless victims'.
The
proportion of people in sub-Saharan Africa
affected by famine averaged less than
three-tenths of one per cent between 1990 and 2005. But Britons are so
ill-informed about Africa that one in five
thinks it never rains there.
It
gets worse. More than half think Timbuktu
doesn't exist. Having been there, I can assure you it does, and that Mali, like Ethiopia, is one of the most magical places I have visited.
Just
imagine how much more tourism — and trade — there would be for such
countries without the long shadow cast by Live Aid.
Instead,
too many people view Africa as one country, a festering swamp of torment and trouble,
rather than the vibrant, diverse, resourceful and increasingly-successful
continent that it is, home to several of the world's fastest-growing economies.
This
is the tragic legacy of Live Aid....
Read
more:
http://www.dailymail.co.uk/debate/article-1394154/Live-Aids-corrosive-legacy-David-Cameron-UKs-overseas-aid-budget.html#ixzz1wjZmTiFF
Saturday 26 May 2012
Islamic law in UK parliament?
Well, alcohol is an evil that must be avoided. So say the Muslim
faithful. In the UK, home of the religiously indifferent British,
alcohol is a religion unto itself.
However, when you combine subsidised alcohol and law-making,
you've got a potion that will destroy the country.
So, George Galloway recommends that the many
subsidised bars in Parliament should be shut. I agree.
I've seen enough drunken debauchery in PM's questions, and
I know that their laws show the signs of a drunken party, gone wrong.
IshitUnot: 2 texts
Press tv
Galloway calls for closure of UK Parliament bars
Fri Apr 20, 2012 12:44PM GMT
George Galloway, the newly-elected Respect MP for Bradford West in
Britain has called for an end to Parliament’s taxpayer-subsidised bars.
In an exclusive interview with The House Magazine the former Glasgow MP
demanded that the bars in Westminster to be shut.
The Sun
Laid back Pm's days of wine, snooker and sleep
More later
http://www.thesun.co.uk/sol/homepage/news/politics/4327496/Laid-back-PMs-days-of-wine-snooker-sleep-David-Cameron-is-branded-the-most-laid-back-PM-in-history.html
faithful. In the UK, home of the religiously indifferent British,
alcohol is a religion unto itself.
However, when you combine subsidised alcohol and law-making,
you've got a potion that will destroy the country.
So, George Galloway recommends that the many
subsidised bars in Parliament should be shut. I agree.
I've seen enough drunken debauchery in PM's questions, and
I know that their laws show the signs of a drunken party, gone wrong.
IshitUnot: 2 texts
Press tv
Galloway calls for closure of UK Parliament bars
Fri Apr 20, 2012 12:44PM GMT
George Galloway, the newly-elected Respect MP for Bradford West in
Britain has called for an end to Parliament’s taxpayer-subsidised bars.
In an exclusive interview with The House Magazine the former Glasgow MP
demanded that the bars in Westminster to be shut.
The Sun
Laid back Pm's days of wine, snooker and sleep
More later
http://www.thesun.co.uk/sol/homepage/news/politics/4327496/Laid-back-PMs-days-of-wine-snooker-sleep-David-Cameron-is-branded-the-most-laid-back-PM-in-history.html
Friday 25 May 2012
the morals of a nerdy kid are ruining the stock market
I've heard that the majority of trades on the stock market are
done by machines. Machines, using algorithms, sell stocks to
themselves, or other machines, to get .00005 of a penny
each of the thousands of times they sell them. They ride
their own rollercoaster on the stock price. Instant commissions
for the human "operator".
They can also manipulate stocks by flooding the market
with buy offers that are low, thus pushing the price down.
Well, I've been thinking that taxing this would stop it immediately,
or at least give the public purse a bucket of cash for us to cry into.
Well, the Norse and the Swedes have figured out a
system to stop these little spoiled boys from
screwing with their stock markets.
[I'll also dig up the case of the Norwegian guys who screwed JPM so
bad that JPM sued, and lost. I'll call it: Eeeeh. Only we's is allowed
to scam in dis way.]
IshitUnot: DENNINGER
How To Neuter The Machines
From the forum:
In Sweden, we've had an Order-to-Executed Order limit in place
since last year. Basically for every 250 orders, at least 1 must be
executed on, otherwise
in place, with
into the market they need to
or you pay a fee for each additional order. Set the fee at 5 cents
per order over 10 that does not execute. 1 in 10 is more than
lax enough for any human trader, but makes unprofitable the practice
of "spamming" an exchange with orders, the overload games that
Nanex has repeatedly documented and other forms of behavior that have
nothing to do with the price of an underlying
security but instead are intended to and do manipulate the market.
This one simple rule change would put a stop to 99% of the games and yet
would do no damage to actual trading of actual securities, whether
by machine or person, for actual accounts where the intent is to express
an opinion of price (instead of simply trying to steal a few pennies from
someone else.) Incidentally I have previously argued for imposing a "must
remain valid" time for all orders as well sufficient to allow human reaction
time -- say, 2 seconds.
Making both rule changes would be even better, although either would
make a significant difference.
done by machines. Machines, using algorithms, sell stocks to
themselves, or other machines, to get .00005 of a penny
each of the thousands of times they sell them. They ride
their own rollercoaster on the stock price. Instant commissions
for the human "operator".
They can also manipulate stocks by flooding the market
with buy offers that are low, thus pushing the price down.
Well, I've been thinking that taxing this would stop it immediately,
or at least give the public purse a bucket of cash for us to cry into.
[I got this algo that will get me a date]
system to stop these little spoiled boys from
screwing with their stock markets.
[I'll also dig up the case of the Norwegian guys who screwed JPM so
bad that JPM sued, and lost. I'll call it: Eeeeh. Only we's is allowed
to scam in dis way.]
IshitUnot: DENNINGER
How To Neuter The Machines
From the forum:
In Sweden, we've had an Order-to-Executed Order limit in place
since last year. Basically for every 250 orders, at least 1 must be
executed on, otherwise
a fee of 0,09 SEK (around 0,015 USD)
is applied per order above the 1 to 250 ratio.
Norway has now (Thursday morning) placed a 1 to 70 limitis applied per order above the 1 to 250 ratio.
in place, with
a fee of 0,05 NOK per order
above the limit of 1 to 70.
If our regulators want individual investors to come back above the limit of 1 to 70.
into the market they need to
implement this but with a 1 in 10 limit.
That is, for every 10 orders you place at least one must execute or you pay a fee for each additional order. Set the fee at 5 cents
per order over 10 that does not execute. 1 in 10 is more than
lax enough for any human trader, but makes unprofitable the practice
of "spamming" an exchange with orders, the overload games that
Nanex has repeatedly documented and other forms of behavior that have
nothing to do with the price of an underlying
security but instead are intended to and do manipulate the market.
This one simple rule change would put a stop to 99% of the games and yet
would do no damage to actual trading of actual securities, whether
by machine or person, for actual accounts where the intent is to express
an opinion of price (instead of simply trying to steal a few pennies from
someone else.) Incidentally I have previously argued for imposing a "must
remain valid" time for all orders as well sufficient to allow human reaction
time -- say, 2 seconds.
Making both rule changes would be even better, although either would
make a significant difference.
The market is supposed to be a price-discovery mechanism,
not a pick-pocket's playground.
not a pick-pocket's playground.
Wednesday 23 May 2012
come hither. make cars for people to live in
As they middle class is shrinking rapidly, and its former
members are now part of the great unwashed, it's
great to know that Britain is encouraging all the world
to come here to make cars.
In the last month, Nissan, Honda and Vauxhaul (GM,
the handout king) have all announced expansions.
The first reaction is joy, for the workers , even
though they got squeezed a bit.
Then I thought. Wait a sec. Maybe Just David is
using some honey to entice them hither.
today, we have the first official denial (I'll post it soon).
You know what the key internet rule regarding the
mainstream media is? If the government is seen denying
something in the media, that means it's true. We'll see.
My guess is that they've pulled some banking trick,
because the UK banks (in off-shore C of London)
are squeezing every country with debt hedges. Maybe
Dave said I'll get the banks to lay off harrassing your country
for a while, so that your country can lend you some money.
We'll see.
I like the Reuters guy who read his EU laws. He says subidising industry
is against the trade rules. Ya, well, so is subsidising banks, but I don't
see any banks handing the money back.
IshitUnot: Reuters
..Britain says GM given no special deal over Astra
By Rhys Jones
....LONDON (Reuters) - Britain said it had not offered General Motors any special treatment to persuade it to build the next generation of its Astra compact in England rather than Germany.
General Motors, which operates under the Vauxhall brand in Britain, said last week it would build the car in the UK after workers at its factory in Ellesmere Port, north-west England, agreed a new labour deal.
The decision left a plant in Bochum, Germany, run by GM's Opel arm, in danger of closure.
"It is important to be clear nothing 'special' has been offered to GM," said a spokesman for Britain's Department for Business in an emailed statement on Tuesday.
"Rather, they were simply made aware of the excellent business environment and support systems that the UK offers to all businesses."
The spokesman added it was made clear to GM that, as with other car manufacturers, it could apply to existing industry support schemes such as the Regional Growth Fund.
Separately, Vauxhall said it had not received any subsidy.
"A number of existing UK government mechanisms are in place to support the industry which any manufacturer can apply for when launching a new product," Vauxhall said in a statement sent to Reuters.
"Vauxhall Motors has not applied for government support with respect to the next-generation Astra."
Earlier on Tuesday, German news agency DPA reported that the British government may have offered GM subsidies to secure production of the car at Ellesmere Port.
It cited Wolfgang Schaefer-Klug, labour chief of Opel, as saying promises may have been made by the UK which contravene EU rules on subsidies.[AHAhaAHaahahAHaHAHAhAHAahHAHAHAHAHAHAHAHAAH. you can take that to the bank- Costick67 ]
members are now part of the great unwashed, it's
great to know that Britain is encouraging all the world
to come here to make cars.
In the last month, Nissan, Honda and Vauxhaul (GM,
the handout king) have all announced expansions.
The first reaction is joy, for the workers , even
though they got squeezed a bit.
Then I thought. Wait a sec. Maybe Just David is
using some honey to entice them hither.
today, we have the first official denial (I'll post it soon).
You know what the key internet rule regarding the
mainstream media is? If the government is seen denying
something in the media, that means it's true. We'll see.
My guess is that they've pulled some banking trick,
because the UK banks (in off-shore C of London)
are squeezing every country with debt hedges. Maybe
Dave said I'll get the banks to lay off harrassing your country
for a while, so that your country can lend you some money.
We'll see.
I like the Reuters guy who read his EU laws. He says subidising industry
is against the trade rules. Ya, well, so is subsidising banks, but I don't
see any banks handing the money back.
IshitUnot: Reuters
..Britain says GM given no special deal over Astra
By Rhys Jones
....LONDON (Reuters) - Britain said it had not offered General Motors any special treatment to persuade it to build the next generation of its Astra compact in England rather than Germany.
General Motors, which operates under the Vauxhall brand in Britain, said last week it would build the car in the UK after workers at its factory in Ellesmere Port, north-west England, agreed a new labour deal.
The decision left a plant in Bochum, Germany, run by GM's Opel arm, in danger of closure.
"It is important to be clear nothing 'special' has been offered to GM," said a spokesman for Britain's Department for Business in an emailed statement on Tuesday.
"Rather, they were simply made aware of the excellent business environment and support systems that the UK offers to all businesses."
The spokesman added it was made clear to GM that, as with other car manufacturers, it could apply to existing industry support schemes such as the Regional Growth Fund.
Separately, Vauxhall said it had not received any subsidy.
"A number of existing UK government mechanisms are in place to support the industry which any manufacturer can apply for when launching a new product," Vauxhall said in a statement sent to Reuters.
"Vauxhall Motors has not applied for government support with respect to the next-generation Astra."
Earlier on Tuesday, German news agency DPA reported that the British government may have offered GM subsidies to secure production of the car at Ellesmere Port.
It cited Wolfgang Schaefer-Klug, labour chief of Opel, as saying promises may have been made by the UK which contravene EU rules on subsidies.[AHAhaAHaahahAHaHAHAhAHAahHAHAHAHAHAHAHAHAAH. you can take that to the bank- Costick67 ]
the handouts are gone. long live the handouts
UPDATE: UK. if you thought that 320 Billion of QE money
was the sum total of the handouts to its banks, which are
mostly public utilities now (i.e. owned by the public),
to keep the German banks of its back. Right?
That's one way in which the Troika is in fact helping banks.
The ECB is also designed to help banks, not countries,
because that would be socialism. Shhh. Don't read this out loud.
Of course, socialismophobia is the full-time job of the media,
which is also owned by the same oligarchs who are cheating
us everywhere else.
Well, what we didn't know is that the ECB has been handing
money to Greek and Spanish banks without having to tell
anyone. Of course, lately, they are. (see graph below)
But, in order to scare Greece into voting the right way,
they've decided to cut off this handout to "some" Greek banks.
You realise that, with fractional reserve banking, even lazy
Greek banks cannot withstand a decent bank run. Well,
Greeks have been lining up for 2 years, in fair numbers
to pull out their Euros, lest they turn into Drachmas.
If it wasn't for that money, the Greek banks , and thus the
country would have gone bankrupt at least 1 year ago.
Well, the world is not ready for the mouse to leave the
game. So, again, the ECB is doing this for the benefit
of the "banking system" and not for Greece. The Greeks
say thanks, anyway.
Well, lucky Luke Papademos, now former PM
(of the Unelected Marionette Party)
had the so-called EMA money (from the ECB,
as well) to plug up that leak in the boat. Isn't
Keynesianism great when it seeks to have
a multitude of methods of bailing out the banks?
was the sum total of the handouts to its banks, which are
mostly public utilities now (i.e. owned by the public),
but no.
according to an analyst on 5 Live radio,
George Osbourne is handing 100 billion pounds a year
to the banks, without informing the public.
About 6 months ago, I wrote something like:
Wait a tick. George is firing public servants,
cutting expenses and yet, every month, the UK
hits new a government borrowing record.
So I thought: I'll bet the banks are getting some, under the table.
Ching-ching.
MAIN STORY:
We all know that the Troika is "lending" money to Greece to keep the German banks of its back. Right?
That's one way in which the Troika is in fact helping banks.
The ECB is also designed to help banks, not countries,
because that would be socialism. Shhh. Don't read this out loud.
Of course, socialismophobia is the full-time job of the media,
which is also owned by the same oligarchs who are cheating
us everywhere else.
Well, what we didn't know is that the ECB has been handing
money to Greek and Spanish banks without having to tell
anyone. Of course, lately, they are. (see graph below)
But, in order to scare Greece into voting the right way,
they've decided to cut off this handout to "some" Greek banks.
You realise that, with fractional reserve banking, even lazy
Greek banks cannot withstand a decent bank run. Well,
Greeks have been lining up for 2 years, in fair numbers
to pull out their Euros, lest they turn into Drachmas.
If it wasn't for that money, the Greek banks , and thus the
country would have gone bankrupt at least 1 year ago.
Well, the world is not ready for the mouse to leave the
game. So, again, the ECB is doing this for the benefit
of the "banking system" and not for Greece. The Greeks
say thanks, anyway.
Well, lucky Luke Papademos, now former PM
(of the Unelected Marionette Party)
had the so-called EMA money (from the ECB,
as well) to plug up that leak in the boat. Isn't
Keynesianism great when it seeks to have
a multitude of methods of bailing out the banks?
Tuesday 22 May 2012
Word for the day: Fewdalism
This is derived from the word feudalism,
which was an economic situation
wherein the poor basically belonged to the rich.
The serfs had few or no rights, and slaved away
while the lord 'o the manor tool the fruits of their labour,
and borrowed a son or two whenever it was
time for warring.
When the Russians got out of feudalism in the 19th c,
they went directly into full indebtedness. They were charged
too much for the land that they wanted,
so they essentially worked for nothing.
This is the key, as Max Keiser has said. If
Let's cut to the video: at 7:50 you'll see how much serfs mean to a king
Learning from the Eurocrisis
May 10, 2012
By Michael Hudson
Transcript:
Headlines around the world greeted the election results in Greece and France as a rejection of austerity programs by the electors of those countries. Well, what can Americans learn from the results of these elections and from the crisis in the eurozone?
Now joining us to talk about all of this is Michael Hudson. Michael is a former Wall Street financial analyst, and he’s a distinguished research professor of economics at the University of Missouri–Kansas City. He has a new book coming out soon called The Bubble and Beyond. Thanks for joining us, Michael.
... JAY: So one of the arguments that’s made is that whatever Hollande, for example, or even Obama in the United States—but let’s talk about Hollande—whatever he may want to do, if he wanted to kind of defy the austerity programs more resolutely, that he really can’t, because the levers of power of the banks and the financial institutions and in European situation the German elite and German banks, they have so much power that if you actually really try to defy these austerity policies, they can simply—you know, they raid the currency, they drive up interest rates. They have so many levers of power that someone like a Hollande really can’t stand up to them. So unless there’s kind of a really major transformation of capitalism as we know it in Europe, there’s not a heck of a lot Hollande can do. Now, that’s an argument. What do you make of that argument?
HUDSON: The banks really have no power at all except the power to bribe, and in Europe—in South America, the power to assassinate, which they do quite frequently. All they can do is bribe....
HUDSON: The change over the last 30 years has been a drive by the finance sector to become more dominant steadily. So the finance sector has started a lot of think tanks, they’ve funded the research institutes, and they’ve bought control of the public media, so that they’ve been able to convince people that there really isn’t an alternative, and only talk about whether there is more austerity or chaos. But, of course, the alternative to austerity isn’t chaos; its economic democracy, it’s progressive taxation, it’s taxing the rich, it’s writing down the debts. There are many alternatives. And what they’ve done is make sure that none of these alternatives get discussed in the public press or in the media. That’s why we’re on The Real News Network talking about it, not in The New York Times or the Fox media.
JAY: Now, in one of your recent pieces, you wrote that the kind of grab, wealth grab, I guess, that’s going on right now is something akin to the way feudalism developed. What did you mean by that?
HUDSON: The—1,000 years ago, it took a military army to come in and conquer a country and grab the land and charge the people rent, to take control of the monopolies and charge people huge markups from the monopolies, and to essentially shift the taxes off the wealthy, onto the population that was conquered. Now, in today’s world, they can’t afford an army anymore. The Vietnam War showed that no country can afford a military occupation anymore. So finance today is the means of conquering a country and getting what in the past took an army. Financial conquest is how you shift the taxes onto the population to pay the financial sector, how you load a population down with debt and make a population pay interest and amortization and penalties on debt service, you make a population pay for schooling instead of getting it free or a low price as used to be the case, you make a population take on a lifetime of debt in order to get a home that used to be affordable, you make the governments go into debt for the banks, so that in Europe governments can’t—don’t have a central bank to monetize their own deficits but actually have to borrow money from banks. You achieve—you essentially empty out an economy, and you take its economic surplus financially without an army, just by trying to promote what really is junk economics and junk politics, if the economics of Rubinomics in America under Clinton and Rubenomics in America under George Bush, and now with a vengeance under Obama—.
which was an economic situation
wherein the poor basically belonged to the rich.
The serfs had few or no rights, and slaved away
while the lord 'o the manor tool the fruits of their labour,
and borrowed a son or two whenever it was
time for warring.
When the Russians got out of feudalism in the 19th c,
they went directly into full indebtedness. They were charged
too much for the land that they wanted,
so they essentially worked for nothing.
This is the key, as Max Keiser has said. If
you're born in debt,
live in debt
and die in debt,
you're a serf.
a debt serf
There's one small chance at victory if you join the show
Debtors' got Talent
wherein you can compete with others for the biggest bankruptcy or the
month, or the person who died with the most debt. This means that
some rich guys lost out by enslaving you. Thus, you win.
Let's cut to the video: at 7:50 you'll see how much serfs mean to a king
IshitUnot: Michael Hudson
Learning from the Eurocrisis
May 10, 2012
By Michael Hudson
Transcript:
Headlines around the world greeted the election results in Greece and France as a rejection of austerity programs by the electors of those countries. Well, what can Americans learn from the results of these elections and from the crisis in the eurozone?
Now joining us to talk about all of this is Michael Hudson. Michael is a former Wall Street financial analyst, and he’s a distinguished research professor of economics at the University of Missouri–Kansas City. He has a new book coming out soon called The Bubble and Beyond. Thanks for joining us, Michael.
... JAY: So one of the arguments that’s made is that whatever Hollande, for example, or even Obama in the United States—but let’s talk about Hollande—whatever he may want to do, if he wanted to kind of defy the austerity programs more resolutely, that he really can’t, because the levers of power of the banks and the financial institutions and in European situation the German elite and German banks, they have so much power that if you actually really try to defy these austerity policies, they can simply—you know, they raid the currency, they drive up interest rates. They have so many levers of power that someone like a Hollande really can’t stand up to them. So unless there’s kind of a really major transformation of capitalism as we know it in Europe, there’s not a heck of a lot Hollande can do. Now, that’s an argument. What do you make of that argument?
HUDSON: The banks really have no power at all except the power to bribe, and in Europe—in South America, the power to assassinate, which they do quite frequently. All they can do is bribe....
HUDSON: The change over the last 30 years has been a drive by the finance sector to become more dominant steadily. So the finance sector has started a lot of think tanks, they’ve funded the research institutes, and they’ve bought control of the public media, so that they’ve been able to convince people that there really isn’t an alternative, and only talk about whether there is more austerity or chaos. But, of course, the alternative to austerity isn’t chaos; its economic democracy, it’s progressive taxation, it’s taxing the rich, it’s writing down the debts. There are many alternatives. And what they’ve done is make sure that none of these alternatives get discussed in the public press or in the media. That’s why we’re on The Real News Network talking about it, not in The New York Times or the Fox media.
JAY: Now, in one of your recent pieces, you wrote that the kind of grab, wealth grab, I guess, that’s going on right now is something akin to the way feudalism developed. What did you mean by that?
HUDSON: The—1,000 years ago, it took a military army to come in and conquer a country and grab the land and charge the people rent, to take control of the monopolies and charge people huge markups from the monopolies, and to essentially shift the taxes off the wealthy, onto the population that was conquered. Now, in today’s world, they can’t afford an army anymore. The Vietnam War showed that no country can afford a military occupation anymore. So finance today is the means of conquering a country and getting what in the past took an army. Financial conquest is how you shift the taxes onto the population to pay the financial sector, how you load a population down with debt and make a population pay interest and amortization and penalties on debt service, you make a population pay for schooling instead of getting it free or a low price as used to be the case, you make a population take on a lifetime of debt in order to get a home that used to be affordable, you make the governments go into debt for the banks, so that in Europe governments can’t—don’t have a central bank to monetize their own deficits but actually have to borrow money from banks. You achieve—you essentially empty out an economy, and you take its economic surplus financially without an army, just by trying to promote what really is junk economics and junk politics, if the economics of Rubinomics in America under Clinton and Rubenomics in America under George Bush, and now with a vengeance under Obama—.
Monday 21 May 2012
The mouse that roared- Greece
In Aesop's fables, the mouse saved the lion by getting him out of the net.
In this story, Greece, the mouse, saves itself by scaring the shit out
of the lion.
Submitted by Tyler Durden on 05/12/2012 13:34 -0400
Submitted by John Azis of Azizonomics
Double or Nothing: How Wall Street is Destroying Itself
There’s nothing controversial about the claim— reported on by Slate, Bloomberg and Harvard Magazine — that in the last 20 years Wall Street has moved away from an investment-led model, to a gambling-led model.
This was exemplified by the failure of LTCM which blew up unsuccessfully making huge interest rate bets for tiny profits, or “picking up nickels in front of a streamroller”, and by Jon Corzine’s MF Global doing practically the same thing with European debt (while at the same time stealing from clients).
As Nassim Taleb described in The Black Swan these kinds of trades — betting large amounts for small frequent profits — is extremely fragile because eventually (and probably sooner in the real world than in a model) losses will happen (and of course if you are betting big, losses will be big)....
This fragile business model is in fact descended from the Martingale roulette betting system. Martingale is the perfect example of the failure of theory, because in theory, Martingale is a system of guaranteed profit, which I think is probably what makes these kinds of practices so attractive to the arbitrageurs of Wall Street (and of course Wall Street often selects for this by recruiting and promoting the most wild-eyed and risk-hungry). Martingale works by betting, and then doubling your bet until you win. This — in theory, and given enough capital — delivers a profit of your initial stake every time. Historically, the problem has been that bettors run out of capital eventually, simply because they don’t have an infinite stock (of course, thanks to Ben Bernanke, that is no longer a problem). The key feature of this system— and the attribute which many institutions have copied — is that it delivers frequent small-to-moderate profits, and occasional huge losses (when the bettor runs out of money).
....
The obvious conclusion is that if the loss-chasing Martingale traders cannot resist blowing up even with the zero-interest rate policy and an unfettered fiat liquidity backstop, then perhaps this system is fundamentally weak. Alas, no. I think that the conclusion that the clueless schmucks at the Fed have reached is that poor Wall Street needs not only a lender-of-last-resort, but a counter-party-of-last-resort. If you broke your trading book doubling or quadrupling down on horseshit and are sitting on top of a colossal mark-to-market loss, why not have the Fed step in and take it off your hands at a price floor in exchange for newly “printed” digital currency? That’s what the 2008 bailouts did.
Only one problem: eventually, this approach will destroy the currency....
: that’s one reason why Eurasian creditor nations are all quickly and purposefully going about ditching the dollar for bilateral trade.
The bottom line for Wall Street is that either the bailouts will stop and anyone practising this crazy behaviour will end up bust — ending the moral hazard of adrenaline junkie coke-and-hookers traders and 21-year-old PhD-wielding quants playing the Martingale game risk free thanks to the Fed — or the Fed will destroy the currency. I don’t know how long that will take, but the fact that the dollar is effectively no longer the global reserve currency
2 Russia Today
Grexit could have Lehman effect - experts
Published: 17 May, 2012, 15:07
Earlier this year, the International Institute of Finance (IIF) calculated the losses from a possible Greek default. The losses would be above 1 trillion euro, with credibility of other European states hard hit, according to the IIF. China, India and Brazil, big exporters to the eurozone, would also suffer, with China seeing exports shrink by 4%, and India and Brazil by 2% each.
In this story, Greece, the mouse, saves itself by scaring the shit out
of the lion.
How so?
The Lion (Western governmebanks)
are gamblers who's liquidity
is about to be cut off.
So, they take care to give the mouse what he wants.
I'm hearing that little old Greece will cost the world
a cool trill . 9 zeros.
that's a lot of souvlaki, mousaka
that's a lot of souvlaki, mousaka
and hotels with one swinging light-bulb.
You can't hedge risk. You can externalise risk
by giving it to governments, for a while.
(dollar hedge-mony has just left the building)
I can see that Tsipras and his boys know all this
and they're swaggering like John Wayne.
"Well, pilgrim. If you keep hedgin',
them Griks are gonna scalp ya"
IshitUnot: 2 texts
zerohedge
Double or Nothing: How Wall Street is Destroying Itselfzerohedge
Submitted by Tyler Durden on 05/12/2012 13:34 -0400
Submitted by John Azis of Azizonomics
Double or Nothing: How Wall Street is Destroying Itself
There’s nothing controversial about the claim— reported on by Slate, Bloomberg and Harvard Magazine — that in the last 20 years Wall Street has moved away from an investment-led model, to a gambling-led model.
This was exemplified by the failure of LTCM which blew up unsuccessfully making huge interest rate bets for tiny profits, or “picking up nickels in front of a streamroller”, and by Jon Corzine’s MF Global doing practically the same thing with European debt (while at the same time stealing from clients).
As Nassim Taleb described in The Black Swan these kinds of trades — betting large amounts for small frequent profits — is extremely fragile because eventually (and probably sooner in the real world than in a model) losses will happen (and of course if you are betting big, losses will be big)....
This fragile business model is in fact descended from the Martingale roulette betting system. Martingale is the perfect example of the failure of theory, because in theory, Martingale is a system of guaranteed profit, which I think is probably what makes these kinds of practices so attractive to the arbitrageurs of Wall Street (and of course Wall Street often selects for this by recruiting and promoting the most wild-eyed and risk-hungry). Martingale works by betting, and then doubling your bet until you win. This — in theory, and given enough capital — delivers a profit of your initial stake every time. Historically, the problem has been that bettors run out of capital eventually, simply because they don’t have an infinite stock (of course, thanks to Ben Bernanke, that is no longer a problem). The key feature of this system— and the attribute which many institutions have copied — is that it delivers frequent small-to-moderate profits, and occasional huge losses (when the bettor runs out of money).
....
The obvious conclusion is that if the loss-chasing Martingale traders cannot resist blowing up even with the zero-interest rate policy and an unfettered fiat liquidity backstop, then perhaps this system is fundamentally weak. Alas, no. I think that the conclusion that the clueless schmucks at the Fed have reached is that poor Wall Street needs not only a lender-of-last-resort, but a counter-party-of-last-resort. If you broke your trading book doubling or quadrupling down on horseshit and are sitting on top of a colossal mark-to-market loss, why not have the Fed step in and take it off your hands at a price floor in exchange for newly “printed” digital currency? That’s what the 2008 bailouts did.
Only one problem: eventually, this approach will destroy the currency....
: that’s one reason why Eurasian creditor nations are all quickly and purposefully going about ditching the dollar for bilateral trade.
The bottom line for Wall Street is that either the bailouts will stop and anyone practising this crazy behaviour will end up bust — ending the moral hazard of adrenaline junkie coke-and-hookers traders and 21-year-old PhD-wielding quants playing the Martingale game risk free thanks to the Fed — or the Fed will destroy the currency. I don’t know how long that will take, but the fact that the dollar is effectively no longer the global reserve currency
2 Russia Today
Grexit could have Lehman effect - experts
Published: 17 May, 2012, 15:07
Earlier this year, the International Institute of Finance (IIF) calculated the losses from a possible Greek default. The losses would be above 1 trillion euro, with credibility of other European states hard hit, according to the IIF. China, India and Brazil, big exporters to the eurozone, would also suffer, with China seeing exports shrink by 4%, and India and Brazil by 2% each.
there's gold in them thar suspenders
The group that made the following video use the
disingenuous words of one Charlie Munger
(one of Buffy's Market-killers), (alternately sleeping
and) lying about the "unwise" choice of buying gold.
Then he says some bizarre stuff about Jews in 1938.
He's talking out his backside,
but the lad on the video uses CM's every word to
lay out their thesis of
ALL that is wrong with the economy today.
Are they anti-capitalist
or anti-we're-gonna-lose-everything-we-worked-for-including-democracy?
IshitUnot: Free dictionary- BERK
Brit. slang: a stupid person; fool
[shortened from Berkeley or Berkshire Hunt rhyming slang for c*nt]
disingenuous words of one Charlie Munger
(one of Buffy's Market-killers), (alternately sleeping
and) lying about the "unwise" choice of buying gold.
Then he says some bizarre stuff about Jews in 1938.
He's talking out his backside,
but the lad on the video uses CM's every word to
lay out their thesis of
ALL that is wrong with the economy today.
Are they anti-capitalist
or anti-we're-gonna-lose-everything-we-worked-for-including-democracy?
IshitUnot: Free dictionary- BERK
Brit. slang: a stupid person; fool
[shortened from Berkeley or Berkshire Hunt rhyming slang for c*nt]
when is an "anti-capitalist" actually an anti-fascist?
When the economies of the world are all run as neo-fascist economic
guinea pigs. Then the Occupy Movement should not be called
anti-capitalist because is Western Newspeak, anti-capitalist means
Now, tell me this is isn't fascism.
from brainyquote:
guinea pigs. Then the Occupy Movement should not be called
anti-capitalist because is Western Newspeak, anti-capitalist means
communist, terrorist, molester
These are the banks that are getting free money from the ECB:
from brainyquote:
Fascism should more appropriately be called Corporatism
because it is a merger of state and corporate power.
Benito Mussolini
Do I have to think of everything?
If the US is stuck in the 2-party dance now, and has been
complaining about it for decades, now that we have the internet
shouldn't the alternative voices, the other parties, have a
conference of some kind, somewhere central and invite
everybody to show up.
Otherwise, you're gonna get more of this:
complaining about it for decades, now that we have the internet
shouldn't the alternative voices, the other parties, have a
conference of some kind, somewhere central and invite
everybody to show up.
Otherwise, you're gonna get more of this:
Friday 4 May 2012
Ayn Rand is a true Prophet.... of Doom
This is a story about how rich, greedy bastards have used the
disingenuous ideas of a Communist spy to ruin their own
versions of capitalism.
Greenspan, the US Fed guy before the Bernank, was a
firm believer and made Rand's ideas into reality. Some
nice, old, criminally psychopathic banker had made a
fictional story come to life. And it'll be the death of us all,
or perhaps the death of this version of capitalism, since
real capital is one thing missing from markets.
And the humanity of the whole thing has got politicians
shitting their pants and then starving their own people.
IshitUnot: zerohedge [discussing a video which I'll get later]
Hugh Hendry On Europe "You Can't Make Up How Bad It Is"
Submitted by Tyler Durden on 05/02/2012 11:26 -0400
At The Milken Institute conference yesterday, Hugh Hendry delivered his usual eloquent and critical insights on the state of Europe. Beginning with the statement that "All of Europe has defaulted", the canny-wee-fella (translation: shrewd and cautious young chap) explained that "The political economy in Europe is such that the politicians chose to default on their spending obligations to their citizens in order to honor the pact with their financial creditors and so as time goes on, the politicians are being rejected."... Europe.
The underlying reality that what the European monetary union is about is not about preventing a third so-called European civil war, it is essentially about making someone (France, Germany or both) a Great Power, a European Hegemon, and a global player....
[Mr PANOS has an answer for this]
continued:
Hendry confesses to not being able to finish reading Ayn Rand's Atlas Shrugged at around 1:02:00 and explains why (apart from its length and lack of pictures)...noting that is too depressingly real in its description of the world we live in today...
We have reached a profound point in economic history where the truth is unpalatable to the political class - and that truth is that the scale and magnitude of the problem is larger than their ability to respond - and it terrifies them.
Concluding at 1:10:10 - "we are single-digit years away from the most profound market clearing moment"
disingenuous ideas of a Communist spy to ruin their own
versions of capitalism.
Greenspan, the US Fed guy before the Bernank, was a
firm believer and made Rand's ideas into reality. Some
nice, old, criminally psychopathic banker had made a
fictional story come to life. And it'll be the death of us all,
or perhaps the death of this version of capitalism, since
real capital is one thing missing from markets.
And the humanity of the whole thing has got politicians
shitting their pants and then starving their own people.
IshitUnot: zerohedge [discussing a video which I'll get later]
Hugh Hendry On Europe "You Can't Make Up How Bad It Is"
Submitted by Tyler Durden on 05/02/2012 11:26 -0400
At The Milken Institute conference yesterday, Hugh Hendry delivered his usual eloquent and critical insights on the state of Europe. Beginning with the statement that "All of Europe has defaulted", the canny-wee-fella (translation: shrewd and cautious young chap) explained that "The political economy in Europe is such that the politicians chose to default on their spending obligations to their citizens in order to honor the pact with their financial creditors and so as time goes on, the politicians are being rejected."... Europe.
The underlying reality that what the European monetary union is about is not about preventing a third so-called European civil war, it is essentially about making someone (France, Germany or both) a Great Power, a European Hegemon, and a global player....
[Mr PANOS has an answer for this]
continued:
Hendry confesses to not being able to finish reading Ayn Rand's Atlas Shrugged at around 1:02:00 and explains why (apart from its length and lack of pictures)...noting that is too depressingly real in its description of the world we live in today...
We have reached a profound point in economic history where the truth is unpalatable to the political class - and that truth is that the scale and magnitude of the problem is larger than their ability to respond - and it terrifies them.
Concluding at 1:10:10 - "we are single-digit years away from the most profound market clearing moment"
Thursday 3 May 2012
everybody is somebody's else's fool, sometime
I write about lots of well-connected, educated commentators and
their ideas, but they all have weaknesses. It's important to
not view any of them as
having all the answers, as if they're gods.
Max Keiser has flaws. Peter Schiff. Zerohedge writers.
that's especially true when it comes to them discussing
the price of gold.
They're all useful, because they tend to tell the truth as
they see it. You have to understand their weak points to
know whether to believe them or not.
When you want to find out about the US in sharp detail,
go to Russia Today (RT) because none of the US channels,
except Dylan Ratigan (MSNBC) even care to look at the
rampant corruption there.
Anyway, on the EU political front, there's no other person
better situated to tell the rest of us the truth about the
workings of Brussels and Strassbourg (and it's pretty
evil stuff, folks) than Nigel Farage of UKIP, elected in the
UK because he wants to withdraw the UK from Europe.
so check this and all the other ones that come up on Youtube:
However, this fellow below, who wrote to Max Keiser,
has Farage nailed. Farage is an ex-broker, like Max,
who worked in London for years. So, Nige has a blind spot
as regards the banking poison that is London. He talks
about it, but skirts around the important stuff.
So, observe the comment:
[Letter to maxkeiser.com]
"UKIP are a bunch of delusional fools –
UK sovereignty is not under threat from Europe,
but from its own finance sector and its US collaborators.
their ideas, but they all have weaknesses. It's important to
not view any of them as
having all the answers, as if they're gods.
Max Keiser has flaws. Peter Schiff. Zerohedge writers.
that's especially true when it comes to them discussing
the price of gold.
They're all useful, because they tend to tell the truth as
they see it. You have to understand their weak points to
know whether to believe them or not.
When you want to find out about the US in sharp detail,
go to Russia Today (RT) because none of the US channels,
except Dylan Ratigan (MSNBC) even care to look at the
rampant corruption there.
Anyway, on the EU political front, there's no other person
better situated to tell the rest of us the truth about the
workings of Brussels and Strassbourg (and it's pretty
evil stuff, folks) than Nigel Farage of UKIP, elected in the
UK because he wants to withdraw the UK from Europe.
so check this and all the other ones that come up on Youtube:
However, this fellow below, who wrote to Max Keiser,
has Farage nailed. Farage is an ex-broker, like Max,
who worked in London for years. So, Nige has a blind spot
as regards the banking poison that is London. He talks
about it, but skirts around the important stuff.
So, observe the comment:
[Letter to maxkeiser.com]
"UKIP are a bunch of delusional fools –
UK sovereignty is not under threat from Europe,
but from its own finance sector and its US collaborators.
prima facie readings of the media are a waste of time
The 'alt' media are usually well-known for reading
between the lines when studying what Wall Street
and politicians are doing. One fella,
who is so old and crotchety as to be seen as a simpleton,
is actually a devious piece of work.
We know that Warren Buffett can't make money unless there's a
fire sale going on, or unless the government hands him an easy one.
His pronouncements are also well-known for being said for his own
interest, and for the disinforming of the public.
he sends out a dog-whistle messages to
Goldman and JP Morgan that they need to use
more trillions of derivatives to stomp on the price
of gold because gold is the only refuge in these
times of rampant fraud.
Buffet, and the others, don't want that because
they want more suckers to offer up their
savings so this Mafia can steal it.
While the price of gold, long term, is going up at a
good clip, it should be 6 times higher than it is now,
because of the allowing of
Peter Schiff, though having the blind spots of all Libertarians,
is usually pretty sharp, being that he predicted the crash and
ate humble pie for 5 years on television, until he was proven right.
Unfortunately, he took Buffett at his word when Buffet spoke about gold.
It's all spin, Mr Schiff.
Why the F^&*k are you wasting your logic on that old fart's bullsh*t?
I know you have to be polite because you run into
should tell your readers every time you go to discuss Buffy:
Now, you know some guys like to manipulate the markets, like Buffy.
IshitUnot: Investment news
Peter Schiff: Why Warren Buffett is wrong about gold
By Peter Schiff
March 6, 2012 8:59 am ET
The gold doomsayers have found their champion in the media's favorite financial adviser and one of the world's richest men. Warren Buffett, the man dubbed the "Oracle of Omaha," has repeatedly and publicly denied that gold is an investment, and called gold buyers "speculators" and people "who fear almost all other assets." In fact, Buffett claims that gold's rise has the same characteristics as the housing and dot-com bubbles, and it is only a matter of time before it reverses course. He doesn't mean that the price will decline because of austerity measures and a free-market interest rate, mind you. He just asserts that because he's deemed it a bubble, it will inevitably burst.
The financial world by-and-large views Buffett as an objective observer, a rare investor who still considers the best interests of common man when he speaks. Each year, there is much hullabaloo over the letter Buffett writes to the shareholders of Berkshire Hathaway. When Buffett makes a claim, the financial world coos and repeats it without question.
between the lines when studying what Wall Street
and politicians are doing. One fella,
who is so old and crotchety as to be seen as a simpleton,
is actually a devious piece of work.
We know that Warren Buffett can't make money unless there's a
fire sale going on, or unless the government hands him an easy one.
His pronouncements are also well-known for being said for his own
interest, and for the disinforming of the public.
However, when he talks about gold,
he's sensing that people are hankering for it,he sends out a dog-whistle messages to
Goldman and JP Morgan that they need to use
more trillions of derivatives to stomp on the price
of gold because gold is the only refuge in these
times of rampant fraud.
Buffet, and the others, don't want that because
they want more suckers to offer up their
savings so this Mafia can steal it.
While the price of gold, long term, is going up at a
good clip, it should be 6 times higher than it is now,
because of the allowing of
fake trades,
fake buy and sell signals,
dumping of 'paper' gold, and
the piling up of derivatives which have
the effect of dampening the price even further.Peter Schiff, though having the blind spots of all Libertarians,
is usually pretty sharp, being that he predicted the crash and
ate humble pie for 5 years on television, until he was proven right.
Unfortunately, he took Buffett at his word when Buffet spoke about gold.
It's all spin, Mr Schiff.
Why the F^&*k are you wasting your logic on that old fart's bullsh*t?
I know you have to be polite because you run into
Buffy the Market Killer, from time to time,
or one of his gofers. Here's what you should tell your readers every time you go to discuss Buffy:
Now, you know some guys like to manipulate the markets, like Buffy.
When Buffy says X, he means Z.
IshitUnot: Investment news
Peter Schiff: Why Warren Buffett is wrong about gold
By Peter Schiff
March 6, 2012 8:59 am ET
The gold doomsayers have found their champion in the media's favorite financial adviser and one of the world's richest men. Warren Buffett, the man dubbed the "Oracle of Omaha," has repeatedly and publicly denied that gold is an investment, and called gold buyers "speculators" and people "who fear almost all other assets." In fact, Buffett claims that gold's rise has the same characteristics as the housing and dot-com bubbles, and it is only a matter of time before it reverses course. He doesn't mean that the price will decline because of austerity measures and a free-market interest rate, mind you. He just asserts that because he's deemed it a bubble, it will inevitably burst.
The financial world by-and-large views Buffett as an objective observer, a rare investor who still considers the best interests of common man when he speaks. Each year, there is much hullabaloo over the letter Buffett writes to the shareholders of Berkshire Hathaway. When Buffett makes a claim, the financial world coos and repeats it without question.
Tuesday 1 May 2012
the liquidity of a sandstorm
banks. pffffft
we provide liquidity for the markets. pffft
Banks are supposed to provide loans.
That's capital for the running of the productive economy.
Not Facebook. Manufacturing.
I'm not talking about stock brokers.
They're supposed to buy and sell shares
and government debt.
That provides some liquidity for the markets.
Now that banks and brokers have merged, neither of them
is doing their job.
They're investing in pseudo-financial products like CDSs
and derivatives, which are more like gambling because there's
no money on the side to cover losses.
So, if an idiot like me can understand this, you're
at the Rockefeller-and-the-shoe-shine-boy
moment. This time, there are no more fools to go around.
In fact, if pension funds and cities are doing anything
on the markets now, they're suing JPM and others
for robbing them.
Let's see if the US government allows this to go forward.
The danger is that , if the law begins to be applied,
the banks which are holding up this charade of a
world economy may go broke, meaning a
Submitted by Tyler Durden on 04/16/2012 10:51 -0400
At the start of April, ECB's Draghi noted, "let's keep in mind that it [the LTRO] is not capital", adding that "if a bank does not have capital, it would be better to raise it now". Given the rapidly fading glow of LTRO's liquidity flush, the seemingly 'wasted' ammunition that Spanish and Italian banks have fired at the sovereign bond bears and the complete and utter lack of capital raising that has occurred, perhaps it is no wonder that credit spreads on the major European financials have exploded back to near their wides once again (LTRO-encumbrance aside). As Barclays notes today, the major financials alone look set to need over EUR120 billion in capital to bring their credit risks down to acceptable levels to be able to openly access capital markets once again. This means a median 30% of current equity market capitalization has to be raised. Just as we pointed out again and again, not only is the LTRO an encumbrance of bank balance sheets (and therefore increasingly subordinates all existing bond-holders implicitly reducing recoveries in a worst case scenario) but it delayed much-needed decision-making by giving the banks an 'out' for a few months.
The sad reality now is that liquidity is simply not capital and given the decompression in senior credit spreads, subordinated credit spreads, and the surge in LTRO stigma (as well as huge compression in equity prices), it seems the investing public is also seeing this. Either banks shrink their balance sheets dramatically (with the ensuing credit contraction driving Europe into a much deeper recession) or they raise capital, hugely diluting existing shareholders (since we can only imagine who would be willing to fund these black holes at anything like current market prices). To rub a little further salt into that wound, tomorrow will bring ECB margin calls and given the collapse in Italian and more so Spanish bond prices, there has to be some anxious margin clerks making calls right now given the ridiculously fine haircuts that were imposed on these bonds.
we provide liquidity for the markets. pffft
Banks are supposed to provide loans.
That's capital for the running of the productive economy.
Not Facebook. Manufacturing.
I'm not talking about stock brokers.
They're supposed to buy and sell shares
and government debt.
That provides some liquidity for the markets.
Now that banks and brokers have merged, neither of them
is doing their job.
They're investing in pseudo-financial products like CDSs
and derivatives, which are more like gambling because there's
no money on the side to cover losses.
So, if an idiot like me can understand this, you're
at the Rockefeller-and-the-shoe-shine-boy
moment. This time, there are no more fools to go around.
In fact, if pension funds and cities are doing anything
on the markets now, they're suing JPM and others
for robbing them.
Let's see if the US government allows this to go forward.
The danger is that , if the law begins to be applied,
the banks which are holding up this charade of a
world economy may go broke, meaning a
CRISIS OF LIQUIDITY
Indeed, banks do not provide liquidity for the markets.
Governments provide liquidity for the banks, by giving
them free money, for those banks to, in turn, lend it
back to governments, giving them liquidity.
That's the only thing that banks and governments have learned
from the crisis of 2008. Keep open any and all possible
blockages to liquidity, or else we're all f$%^&kked.
IshitUnot: zerohedge
Liquidity Isn't Capital
Submitted by Tyler Durden on 04/16/2012 10:51 -0400
At the start of April, ECB's Draghi noted, "let's keep in mind that it [the LTRO] is not capital", adding that "if a bank does not have capital, it would be better to raise it now". Given the rapidly fading glow of LTRO's liquidity flush, the seemingly 'wasted' ammunition that Spanish and Italian banks have fired at the sovereign bond bears and the complete and utter lack of capital raising that has occurred, perhaps it is no wonder that credit spreads on the major European financials have exploded back to near their wides once again (LTRO-encumbrance aside). As Barclays notes today, the major financials alone look set to need over EUR120 billion in capital to bring their credit risks down to acceptable levels to be able to openly access capital markets once again. This means a median 30% of current equity market capitalization has to be raised. Just as we pointed out again and again, not only is the LTRO an encumbrance of bank balance sheets (and therefore increasingly subordinates all existing bond-holders implicitly reducing recoveries in a worst case scenario) but it delayed much-needed decision-making by giving the banks an 'out' for a few months.
The sad reality now is that liquidity is simply not capital and given the decompression in senior credit spreads, subordinated credit spreads, and the surge in LTRO stigma (as well as huge compression in equity prices), it seems the investing public is also seeing this. Either banks shrink their balance sheets dramatically (with the ensuing credit contraction driving Europe into a much deeper recession) or they raise capital, hugely diluting existing shareholders (since we can only imagine who would be willing to fund these black holes at anything like current market prices). To rub a little further salt into that wound, tomorrow will bring ECB margin calls and given the collapse in Italian and more so Spanish bond prices, there has to be some anxious margin clerks making calls right now given the ridiculously fine haircuts that were imposed on these bonds.
pay for a ratings agency or pay for your funeral
Europe has said it needs its own ratings agency. There is one
in Germany, and nobody has noticed it.
Also, one of the Big Corrupt Trio is mostly French,
but it stays in New York, where the bribery lucre is good.
Anyway, with Egan Jones, another agency,
now being chased out of the US, there need to be some more.
There's a Chinese one, too.
The complaints about the behaviour of ratings agencies
that I wrote above are usually from do-nothing politicians
who want to make it seems as if they care about controlling
the banks.
They don't. They want their next handout.
Handout money comes from the money the banks borrowed from
you and me, dontcha know?
They could very easily set up a regime where those
Big Three were not the
only assessments that had weight. But, they won't.
the zerohedge article below shows how, even on the internet,
insider sites are just repeating the "might is right" mantra
to show how Egan Jones is being shoved out because the US
government and the Big Three don't want any competition
from companies that do not accept bribes.
IshitUnot: 2 texts
1 Keep talking greece
First European Rating Agency on the Way
Posted by keeptalkinggreece in Economy
Standard & Poor’s, Moody’s and all the other kids, that is the American rating agencies are about to get a European rival. German corporate consulting firm Roland Berger developed a plan to challenge the dominance of American firms that have thrown quite some euro zone member countries into deep red by downgrading them and forcing them into the arms of bailout. However Roland Berger needs to raise a start-up capital of 300 million euro. Financial Times Deutschland expressed doubts on whether the European rating agency will manage to raise the necessary budget as there is allegedly lack of interest from the side of investors.
2 zerohedge
The Truth About Egan-Jones
Submitted by Tyler Durden on 04/27/2012 11:11 -0400
... but not from us: after all we are known for being biased, which in the mainstream media parlance means calling it like it is. No - instead we leave it to none other than Bloomberg's Jonathan Weil who does as good a job of being "biased" as we ever could: "Egan-Jones, which has been in business since 1992, could have continued operating as an independent publisher of ratings and analysis, not subject to government oversight or control. Instead it chose to play within the Big Three’s system, exposing itself to regulation and the whims of the SEC in exchange for the government’s imprimatur. Now it’s paying the price." And not only that: as the most recent example of Spain just shows, where Egan Jones downgraded Spain 9 days ago and was ignored, but well ahead of everyone else, only to be piggybacked by S&P, and the whole world flipping out, it has become clear: calling out reality, and the fools that populate it, is becoming not only a dangerous game, but increasingly more illegal. Then again - this is not the first time we have seen just this happen in broad daylight, with nobody daring to say anything about it. In fact, this phenomenon tends to be a rather traditional side-effect of every declining superpower. Such as the case is right now...
in Germany, and nobody has noticed it.
Also, one of the Big Corrupt Trio is mostly French,
but it stays in New York, where the bribery lucre is good.
Anyway, with Egan Jones, another agency,
now being chased out of the US, there need to be some more.
There's a Chinese one, too.
The complaints about the behaviour of ratings agencies
that I wrote above are usually from do-nothing politicians
who want to make it seems as if they care about controlling
the banks.
They don't. They want their next handout.
Handout money comes from the money the banks borrowed from
you and me, dontcha know?
They could very easily set up a regime where those
Big Three were not the
only assessments that had weight. But, they won't.
the zerohedge article below shows how, even on the internet,
insider sites are just repeating the "might is right" mantra
to show how Egan Jones is being shoved out because the US
government and the Big Three don't want any competition
from companies that do not accept bribes.
IshitUnot: 2 texts
1 Keep talking greece
First European Rating Agency on the Way
Posted by keeptalkinggreece in Economy
Standard & Poor’s, Moody’s and all the other kids, that is the American rating agencies are about to get a European rival. German corporate consulting firm Roland Berger developed a plan to challenge the dominance of American firms that have thrown quite some euro zone member countries into deep red by downgrading them and forcing them into the arms of bailout. However Roland Berger needs to raise a start-up capital of 300 million euro. Financial Times Deutschland expressed doubts on whether the European rating agency will manage to raise the necessary budget as there is allegedly lack of interest from the side of investors.
2 zerohedge
The Truth About Egan-Jones
Submitted by Tyler Durden on 04/27/2012 11:11 -0400
... but not from us: after all we are known for being biased, which in the mainstream media parlance means calling it like it is. No - instead we leave it to none other than Bloomberg's Jonathan Weil who does as good a job of being "biased" as we ever could: "Egan-Jones, which has been in business since 1992, could have continued operating as an independent publisher of ratings and analysis, not subject to government oversight or control. Instead it chose to play within the Big Three’s system, exposing itself to regulation and the whims of the SEC in exchange for the government’s imprimatur. Now it’s paying the price." And not only that: as the most recent example of Spain just shows, where Egan Jones downgraded Spain 9 days ago and was ignored, but well ahead of everyone else, only to be piggybacked by S&P, and the whole world flipping out, it has become clear: calling out reality, and the fools that populate it, is becoming not only a dangerous game, but increasingly more illegal. Then again - this is not the first time we have seen just this happen in broad daylight, with nobody daring to say anything about it. In fact, this phenomenon tends to be a rather traditional side-effect of every declining superpower. Such as the case is right now...
Pot Cafe Lobby brings down Holland government
The DOWNFALL OF THE DUTCH GOVERNMENT could be blamed on the
new law banning foreigners from its Pot Cafes.
Pot tourism was the CURE of choice FOR BANK-OCRACY.
You see, Holland also has some dangerous banks.
"SPARK one and forget your worries" was the ad campaign.
THE SMOKE HOUSE LOBBY SAID AUSTERITY IS
AFFECTING Gross Domestic SMOKING, & that
THIS WILL DESTROY THEM.
IshitUnot: Associated Press
Non-Dutch visitors will no longer be able to legally buy soft drugs after judge upholds change to government policy
guardian.co.uk, Friday 27 April 2012 19.25 BST
Long famous for "coffee shops" where joints and cappuccinos share the menu, the Netherlands' famed tolerance for drugs could be going up in smoke.
A judge on Friday upheld a government plan to ban non-Dutch residents from buying cannabis by introducing a "weed pass" available only to residents.....
new law banning foreigners from its Pot Cafes.
Pot tourism was the CURE of choice FOR BANK-OCRACY.
You see, Holland also has some dangerous banks.
"SPARK one and forget your worries" was the ad campaign.
THE SMOKE HOUSE LOBBY SAID AUSTERITY IS
AFFECTING Gross Domestic SMOKING, & that
THIS WILL DESTROY THEM.
IshitUnot: Associated Press
Non-Dutch visitors will no longer be able to legally buy soft drugs after judge upholds change to government policy
guardian.co.uk, Friday 27 April 2012 19.25 BST
Long famous for "coffee shops" where joints and cappuccinos share the menu, the Netherlands' famed tolerance for drugs could be going up in smoke.
A judge on Friday upheld a government plan to ban non-Dutch residents from buying cannabis by introducing a "weed pass" available only to residents.....
AAA PIIGS, triple-A, first class
France and Germany used Greece’s AAA rating to stuff it full of debt,
knowing it would explode.
Nobody really cares, but I don't think the discussion
about the Greek crisis and the colonisation of the
European periphery by UK, Germany and France
has ever come to the decision that that trio
actually knew that the AAA rating was false,
but that they used it fully, anyway,
stuffing Greece to bursting with public debts,
in the full knowledge that it would blow up. Why?
They need full employment at home in order for
the government to keep the people happy.
And for the longest time I'd assumed that only
Kyle Bass knew about the AAA sham.
I think Merkel and Sarko were well aware.
The got Greece to sign the bill, and then charged
the expenses to their own banks which wrote up
debt notes for Greece.
You've heard how the UK and US have used debt
to control countries? Well, Germany and France
just screwed that up, because Greece has no way of paying,
meaning that Merkozy are responsible for their banks'
bankruptcy, the Troika, the Peres-troika starvation plan
for Greece, the ECB, and all that.
Let's cut to the video:
[Let Max and Stacey explain the details]
knowing it would explode.
Nobody really cares, but I don't think the discussion
about the Greek crisis and the colonisation of the
European periphery by UK, Germany and France
has ever come to the decision that that trio
actually knew that the AAA rating was false,
but that they used it fully, anyway,
stuffing Greece to bursting with public debts,
in the full knowledge that it would blow up. Why?
They need full employment at home in order for
the government to keep the people happy.
And for the longest time I'd assumed that only
Kyle Bass knew about the AAA sham.
I think Merkel and Sarko were well aware.
The got Greece to sign the bill, and then charged
the expenses to their own banks which wrote up
debt notes for Greece.
You've heard how the UK and US have used debt
to control countries? Well, Germany and France
just screwed that up, because Greece has no way of paying,
meaning that Merkozy are responsible for their banks'
bankruptcy, the Troika, the Peres-troika starvation plan
for Greece, the ECB, and all that.
Let's cut to the video:
[Let Max and Stacey explain the details]
grab your hydroponics, we're gonna save this country
Here's another myth that I had believed until last week.
I thought GDP was supposed to be the total of all
manufacturing and services that got sold in a country,
over a period of time.
WRONG.
That's good , because for decades now , I thought ,
"how do they do that" and had come to the conclusion
that GDP as a measurement was bullshit, anyway.
It's not just any old bullshit, it's not even about production,
at all.
gross domestic PRODUCT! D-uuuh.
How could I be so stupid?
It's about cash flow in the economy. So, it could include
all the illegal drug activity in the country, if it were legalised,
and immediately we'd get a boost of 15% on GDP,
because drugs are now sold on the black market,
the GDP of which goes up, the more the economy crumbles.
IshitUnot: zerohedge
Guest Post: Where’s The Crisis?
Submitted by Tyler Durden on 04/23/2012 18:41 -0400
Submitted by Azizonomics
The thing about GDP, is that it doesn’t really measure wealth creation, or the size of the economy. It measures a derivative of that: money circulation. If Congress passed a law saying that everyone in America had to smoke meth (hey, if you can mandate the purchase of health insurance, why not mandate drug consumption in the name of increasing GDP?) and gamble all their disposable income on horse racing, GDP would almost certainly improve. And that’s growth, right? Except it isn’t. Real growth comes from innovation, productivity, imagination, and hard work. You can attempt to quantify it, but there is no easy catch-all number that will give you a quick and simple insight.
I thought GDP was supposed to be the total of all
manufacturing and services that got sold in a country,
over a period of time.
WRONG.
That's good , because for decades now , I thought ,
"how do they do that" and had come to the conclusion
that GDP as a measurement was bullshit, anyway.
It's not just any old bullshit, it's not even about production,
at all.
gross domestic PRODUCT! D-uuuh.
How could I be so stupid?
It's about cash flow in the economy. So, it could include
all the illegal drug activity in the country, if it were legalised,
and immediately we'd get a boost of 15% on GDP,
because drugs are now sold on the black market,
the GDP of which goes up, the more the economy crumbles.
IshitUnot: zerohedge
Guest Post: Where’s The Crisis?
Submitted by Tyler Durden on 04/23/2012 18:41 -0400
Submitted by Azizonomics
The thing about GDP, is that it doesn’t really measure wealth creation, or the size of the economy. It measures a derivative of that: money circulation. If Congress passed a law saying that everyone in America had to smoke meth (hey, if you can mandate the purchase of health insurance, why not mandate drug consumption in the name of increasing GDP?) and gamble all their disposable income on horse racing, GDP would almost certainly improve. And that’s growth, right? Except it isn’t. Real growth comes from innovation, productivity, imagination, and hard work. You can attempt to quantify it, but there is no easy catch-all number that will give you a quick and simple insight.
no mas, you brutish banks
Apparently Britain doesn't have enough ineffectual Oxbridge toffs
in its public service. They have to get one from Spain (I think)
to go for a siesta for years while the banks rob everyone blind.
Now, he complains that the bank bosses are getting gargantuan bonuses.
D-uuuuh.
IshitUnot: Guardian
Head of FSA slams bankers for taking bonuses.
Hector Sants chief executive off the Financial Services Authority,
yesterday criticised top bankers for continuing to take their bonuses
and said they should act with ‘integrity’. [ya. like Sants does /sarc]
in its public service. They have to get one from Spain (I think)
to go for a siesta for years while the banks rob everyone blind.
Now, he complains that the bank bosses are getting gargantuan bonuses.
D-uuuuh.
WHAT ABOUT DOING YOUR JOB? THEY've been GAMBLING RIGHT
UNDER YOUR NOSE. THEY’RE DOING WHAT BUSINESS ALLOWS.
SHORT-TERM BULLSHIT TO GET BONUSES, WITH NO CONCERN FOR THE
Long term, OR CUSTOMERS, OR THE ECONOMY. THAT’S WHY THE FSA
WAS A SHAM, (GORDO THOUGHT THAT IF THE FSA DIDN’T HAVE
ENOUGH MONEY AND ENOUGH PURVIEW, THEN THE BANKS COULD
PROVIDE New Labour with ENOUGH TAX MONEY to waste).
AND oversight is BEING MOVED BACK TO THE BANK OF ENG.
IT WAS A GUARDIAN ECONOMICS GUY WHO KNEW THAT THE
BoE HAD THE GOODS ON THE UK ECONOMY BEING
READY TO BLOW, IN 2007. HE SAID NOTHING. THE BOE SAID NOTHING.
Anything GOOD HAPPEN, as a result? not much.
Thanks BoE. Thanks Mr Sants. Thanks FSA
IshitUnot: Guardian
Head of FSA slams bankers for taking bonuses.
Hector Sants chief executive off the Financial Services Authority,
yesterday criticised top bankers for continuing to take their bonuses
and said they should act with ‘integrity’. [ya. like Sants does /sarc]
not impressed with Greek suicides
two points arise from the story of Greek suicides due to the financial crisis:
Greeks are doing fine, thank you, except for their egos
Smart arses abound and Reuters is there to record them for posterity
point 1
WHEN THEY START PILING THEM IN MASS GRAVES (like in Athens, WW2),
THEN THAT’S A PROBLEM. IF THEY’RE IN BEAUTIFUL SHINY
BODY CONDOMINIUMS, THERE’S A MIXED MESSAGE.
"WE’RE SUFFERING, BUT WE’RE GOING OUT IN STYLE"
-keep up with the Jones, instead of eating their dog.
THE POOR DON’T SEEM TO BE ENDING THEIR PAIN IN THE SAME WAY.
WHAT THEY’RE SHOWING IS THEIR MASSIVE EGO
THAT THEY CAN’T CLIMB DOWN OFF OF.
THE ANCIENTS WARNED ABOUT HUBRIS.
Some would rather die than lose money on a building investment. (see below)
and the flip side being that they don't want anybody to get a deal
because of their unfortunate situation, caused by the crisis
point 2
Some Greeks feel guilty for being a burden on others, other Greeks
are a burden to themselves, because they insult others but in the end,
insult themselves. A particular "humourous" fellow (below) thinks
Greeks were happy because we had a fake economy wherein they
were spending money that wasn't rightfully theirs.
Well, it's the same money that allowed said jerk-off to grow up and
get semi-educated. Also, it's as if said jerk-off is saying that people
knew their economy was a bubble, funded by foreign banks. They
didn't and in fact, the funny thing is that, to one degree or another,
every Western economy is a bubble. If you've got credit cards, a car
loan and a mortgage, you're inflating the price of everything, which
means that somebody else has a job because banks will lend money.
In that case, Greece is one of the least-guilty parties. The kings of
the bubble are the UK, US, Sweden and Norway.
IshitUnot: two texts
point 1 Greek crisis: for the Chelsea set of Athens, it's still a life of luxury brands
As the country struggles, the rich still buy Gucci, Prada and Louis Vuitton - though they may more discreet about flaunting it
The Observer, Sunday 11 March 2012 Article history
... "Blue-collar people blame white-collar people because their sons are entering parliament [to help ensure favourable laws for their rich parents]. It is an exchange of favours. They are both wrong."
....He says very few sales go through because sellers are demanding unrealistic prices for their properties. A five-bedroom luxury mansion on the hills overlooking Kifissia, which has been on the market at €8m for more than a year without attracting any offers, should be on the market for €4m. "People prefer suicide rather than selling at a loss or breaking even."
Any buyer who bought between 2007 and 2009 will be sitting on a massive loss, Bosdas says, but he reckons people who bought before the "ridiculous property boom" should be able to break even: "The problem is Greeks are too proud, they don't want anyone to get a good deal, and buyers don't want to be seen as vultures snapping stuff up."
point 2 Reuters
Suicides have Greeks on edge before election
By Erik Kirschbaum
ATHENS
Sat Apr 28, 2012 9:27am EDT
....
"Many Greeks have also not lost their sense of humor.
Dimitris Nikolopoulos, a 37-year-old salesman, laughed at the idea that the suicide rate was so low because Greeks are well-adjusted and a generally happy people.
"Greeks used to be very happy people because we were living off money that didn't belong to us," he said with a wry smile. "But sometimes you have to face reality. It wasn't our money." "
Greeks are doing fine, thank you, except for their egos
Smart arses abound and Reuters is there to record them for posterity
point 1
WHEN THEY START PILING THEM IN MASS GRAVES (like in Athens, WW2),
THEN THAT’S A PROBLEM. IF THEY’RE IN BEAUTIFUL SHINY
BODY CONDOMINIUMS, THERE’S A MIXED MESSAGE.
"WE’RE SUFFERING, BUT WE’RE GOING OUT IN STYLE"
-keep up with the Jones, instead of eating their dog.
THE POOR DON’T SEEM TO BE ENDING THEIR PAIN IN THE SAME WAY.
F%&*KING rich SHOWBOATS.
Why don’t they get buried in their Mercedes BenzWHAT THEY’RE SHOWING IS THEIR MASSIVE EGO
THAT THEY CAN’T CLIMB DOWN OFF OF.
THE ANCIENTS WARNED ABOUT HUBRIS.
Some would rather die than lose money on a building investment. (see below)
and the flip side being that they don't want anybody to get a deal
because of their unfortunate situation, caused by the crisis
point 2
Some Greeks feel guilty for being a burden on others, other Greeks
are a burden to themselves, because they insult others but in the end,
insult themselves. A particular "humourous" fellow (below) thinks
Greeks were happy because we had a fake economy wherein they
were spending money that wasn't rightfully theirs.
Well, it's the same money that allowed said jerk-off to grow up and
get semi-educated. Also, it's as if said jerk-off is saying that people
knew their economy was a bubble, funded by foreign banks. They
didn't and in fact, the funny thing is that, to one degree or another,
every Western economy is a bubble. If you've got credit cards, a car
loan and a mortgage, you're inflating the price of everything, which
means that somebody else has a job because banks will lend money.
In that case, Greece is one of the least-guilty parties. The kings of
the bubble are the UK, US, Sweden and Norway.
IshitUnot: two texts
point 1 Greek crisis: for the Chelsea set of Athens, it's still a life of luxury brands
As the country struggles, the rich still buy Gucci, Prada and Louis Vuitton - though they may more discreet about flaunting it
The Observer, Sunday 11 March 2012 Article history
... "Blue-collar people blame white-collar people because their sons are entering parliament [to help ensure favourable laws for their rich parents]. It is an exchange of favours. They are both wrong."
....He says very few sales go through because sellers are demanding unrealistic prices for their properties. A five-bedroom luxury mansion on the hills overlooking Kifissia, which has been on the market at €8m for more than a year without attracting any offers, should be on the market for €4m. "People prefer suicide rather than selling at a loss or breaking even."
Any buyer who bought between 2007 and 2009 will be sitting on a massive loss, Bosdas says, but he reckons people who bought before the "ridiculous property boom" should be able to break even: "The problem is Greeks are too proud, they don't want anyone to get a good deal, and buyers don't want to be seen as vultures snapping stuff up."
point 2 Reuters
Suicides have Greeks on edge before election
By Erik Kirschbaum
ATHENS
Sat Apr 28, 2012 9:27am EDT
....
"Many Greeks have also not lost their sense of humor.
Dimitris Nikolopoulos, a 37-year-old salesman, laughed at the idea that the suicide rate was so low because Greeks are well-adjusted and a generally happy people.
"Greeks used to be very happy people because we were living off money that didn't belong to us," he said with a wry smile. "But sometimes you have to face reality. It wasn't our money." "
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