Germany says: you pay for your bankruptcies, we'll pay for ours

It has become clear that , with the Cyprus precedent,
peripheral countries will have to pay for their own
bailout.

Despite Merkel insulting the PIIGS and saying they
need the Troika, it is German taxpayers who are
paying for Deutschbank's bankruptcy, not Greece
and others.
That's the way it should be.

more soon

Tag team: Taibbi and CBC prove that illegality helps bankocracy

In a few words, the illegal banking activity that
has been the rule of the day, especially since
2008, has been done so that banks are
too big to fail, and yet connected and powerful
enough to take down countries.

All I'm going to do is prove that a mildly
interested citizen with a blog can easily piece
together one big scam from two smaller ones
and then I can also ask:
"just when the hell will this bullshit end?"

 While Taibbi shows that banks are using
one scam on top of another to take down
whole countries,
the CBC shows that the banks' representatives,
the Central Banks of the world, are deciding
the money supply issues that allow them to
cover for the scamming bankers and feed them
more free money.

Result: the central bankers are helping other
bankers take over countries. We will end up
with the same major countries owning
financial colonies all over the world, including
now the "First" World (soon to be Second).

Did you notice any politicians acting on behalf
of their democratic electors? nope, neither did I.

 This text will be followed by the two TAG TEAM
stories.

Banana Republicans, UK - Part 1

This will be another in a series of stories I've
told of how the Kingdom that is United operates
pretty much like a banana republic. It's politics
can be so corrupt as to be shocking.
So, I'm now starting a series that will quickly
eclipse my other series.

In this Banana Rep story, the UK bureaucrats
are seen taking the whistleblower laws and
destroying them, actively, and in using anti-crime
laws to screw the whistleblower, we see
how NOBODY in the whole country of
70 million people is interested in righting this
wrong.

This is about the UK taxman (HMRC) and its
sweetheart deal with Goldman Sachs. GS owes
the UK tax money and interest worth at least
£10 million, but HMRC said "forget about it".
JUST LIKE THAT

Leak NUMBER ONE: "the whistleblower
informs the public"
RESULT: no charges


Mr Mba, a lawyer at HMRC, says this
nice deal smells like bullshit, and told
bosses that he would squeal. Then, he
actually leaked it to a newspaper.
Then came the hunt for incriminating evidence
began AGAINST the whistleblower! They used
anti-crime laws to find anything that would make
this man shut up, retract, go away, die or look
like sour grapes, just to save the asses of
some bureaucrats. Those asses need not worry.
They're covered by their government protectors.
It seems to me that the UK government and HMRC
are keen to give tax breaks to anybody willing to
hire even one of the UK's shiftless unemployed.

It's like "come here and hire Fred, and we'll cancel
your taxes, help you offshore your money and so on"

LEAK TWO: "the whistleblower is being hunted"

RESULT: no charges

Apparently, nobody wants to take on
SENIOR PUBLIC SERVANTS or their protectors.

Checkit: Guardian

How HMRC treated its Goldman Sachs tax deal whistleblower as a criminal

Tax officials used intrusive powers to rake through Osita Mba's personal data in attempt to prove he had spoken to the Guardian

    Rajeev Syal          

    Monday 29 April 2013 17.57 BST      

Osita Mba blew the whistle on Goldman Sachs tax deal

Osita Mba disclosed that senior managers had quietly let off Goldman Sachs from paying millions of pounds in tax penalties.

Tax officials used intrusive investigative powers meant to catch serious criminals to try to prove that a whistleblower who uncovered a "sweetheart" deal with Goldman Sachs had spoken to the Guardian, it has emerged.

The belongings, emails, internet search records and telephone calls of the HM Revenue and Customs solicitor Osita Mba and the telephone records of his wife, Claudia, were examined by revenue investigators, according to previously undisclosed documents.

The powers, which are supposed to be used to combat large-scale criminal tax frauds, were used because the tax inspectors suspected that Mba had been in contact with the Guardian's former investigations editor, David Leigh.

Leigh's telephone numbers and email addresses were cross-referenced with Mba's, but investigators found no evidence of contact, documents show.

The disclosure has prompted serious questions about the behaviour of Revenue and Customs.

Cathy James, the head of the whistleblowers' charity, Public Concern at Work, said the decision to use intrusive powers to examine an employee who made claims using whistleblowing legislation was "outrageous" and "sinister".

"The actions of the HMRC in this case are very much a step in the wrong direction, more likely to result in a culture of silence with more anonymous leaking than anything else. It is a case of shoot – and silence – the messengers," she said.

Using the Public Interest Disclosure Act, Mba wrote to the National Audit Office and two parliamentary committees in confidence in 2011 saying that the head of tax, Dave Hartnett, had "let off" Goldman Sachs from paying at least £10m in interest.

Emails show Mba's identity was disclosed to the revenue in October 2011 by the former clerk of the public accounts committee, who had sought clarification that Mba was their employee.

The next day, a member of the HMRC's security staff sought to obtain access to Mba's office cabinet beneath his second-floor desk in Whitehall. "Thanks. Did you manage to get cabinet key number?" he asked a colleague.

The security staff member also received an email containing the solicitor's private email address, his mobile number, his home telephone number and his wife's telephone details.

On 11 October 2011, the Guardian published a story under the headline "Goldman Sachs let off paying £10m interest on failed tax avoidance scheme", written by Leigh.

Publication of the story prompted members of the revenue's criminal investigative unit to take action. One named internal criminal investigator sent an email on 19 October to a colleague saying that the revenue had begun "a review of the suspect's [Mba's] H drive [the hard drive used within HMRC] and email traffic and internet usage", but inquiries had revealed nothing.

He then proposed a "further interrogation of computer material" and an "itemised billing check", and wrote that "consultations with the CPS [Crown Prosecution Service] can proceed".

Using the Regulation of Investigatory Powers Act 2000 (Ripa), HMRC can see websites viewed by taxpayers, where a mobile phone call was made or received, and the date and time of emails, texts and phone calls. According to the revenue website, these powers "can only be used when investigating serious crime". But the documents disclose that applications were granted to investigate Mba using Ripa.

On 21 October 2011, tax officials applied for an itemised billing request to check an old mobile of Mba's, documents show.

One document read: "David Leigh, who was given HMRC material discussing a named tax payers tax affairs advised a senior employee of HMRC that he had been given access to that material on the 4th or 5th October 2011 and in it he quoted extracts from an HMRC minute of 8/12/2010. He was clearly given information which if provided by an HMRC employee was in contravention of CRCA [Commissioners for Revenue and Customs Act 2005]."

Ten days later, another investigator sent a document, entitled leakupdate4, to colleagues showing they had failed to identify any illegal activity through IT checks, emails, intranet and internet usage and checks from Mba's office telephone.

Investigators also circulated Leigh's office and mobile number among staff so that they could be cross-referenced with Mba's numbers.

A memo sent in December 2011 said the revenue had checked Leigh's details but found no evidence of contact with Mba.

Leigh, who retired from the Guardian last month, said: "The revenue's decision to use these powers to try and find a link with a journalist when the disclosure was so obviously in the public interest was heavy-handed and foolish, and shows the level of paranoia over their tax deals."

Mba was suspended from work, as the Guardian revealed on December 8 2011, when public accounts committee members warned revenue officials not to harass or bully him.

However, the organisation continued to receive and detail his telephone records, documents show. The criminal inquiry was finally abandoned on 11 January 2012.

Mba, who trained as a barrister in Nigeria and completed his master's degree at Oxford, worked in the personal tax litigation team that dealt with the Goldman Sachs tax issue.

He told the National Audit Office and two parliamentary committees the bank's settlement had been agreed with a handshake by Hartnett, the permanent secretary for tax at HMRC.

Mba believed the deal could be illegal, and told auditors he was making the disclosure under whistleblowing legislation. His evidence led to Hartnett's being accused of lying to parliament over his role in the Goldman Sachs deal, which he denied. He admitted, however, that his organisation had made a mistake by approving the deal.....

ghost traders & storm riders in the stock markets

Although Max Keiser is one of the good guys, he apparently
had a hand in an early HFT system on the stock market,
that he sold on to some fool.

Anyway, he had a "ghost trader" as part of the theory
behind the system. He equates this with today's shadow
markets and their role in the stock market. Those shadow
markets, coupled with HFT are ruining what's left of the
corrupt money markets.

Here's the show, and my musical paen to f%^&ked up
markets that are actually affecting us all.



[shadow markets: about 3 minutes in]
[HFT and twitter hack: 5 minutes in]


[it's stormy on the markets, to someone's benefit]


[The Police- they're prophets who foresaw HFT trading]


Another example is the effect that a HACK joke on Twitter can have
on the markets. The REASON? almost 100% of the markets are
HFT machines that READ Twitter. The problem is those machines
do not have a bullshit censor.

See the Keiser show above for the scary news story.

benefits of Thatcherism: no more Thatchers in UK

from the good news file:

We discovered, with the funeral to end all demi-god 

funerals, that the devil's spawn were actually not 

happy with the UK:

Margaret Thatcher's children won't return to Britain in 'immediate future'

I guess they're expecting to be treated like royalty, 

up to and including condoning their crimes and 

racism.

With today's corruption, I wonder why they too 

haven't been allowed to prance around,

pissing on all moral codes. Current politicians

are having a field day.

I guess the Conservatives have indeed turned 

their back on Thatcherism, despite the hagio-

graphy at the funeral.

Another fine point about the funeral and its

planning by the megalomaniacal Baroness.

She planned it all and the lists and the songs

and the reading. This title from the Torygraph

made her seem rather meek:

Don't waste money on flypast for me'

What it is implying , however, (even though

I could not bring myself to read the story) was 
playing coy. anything just short of a flypast was 
okay, and

"BTW, charge it all to the UK taxpayers."

That's her parting Poll-up-yer-keester Tax to 

her beloved nation. @sarc

workers attacked from every side

This coming story will look at how human progress
is set to finally completely trample workers under
its steam rollers

Academics are promoting lower benefits

Machines replacing humans, and who benefits?

coming soon

Greek and Cypriot banks and the who-dunnit

It is now well known that PM Papandreou convinced
Greek and Cypriot banks to shore up the Greek
bond market by buying those rolls of TP, knowing
full well that they would implode very soon.

and so they did. Cyprus tried through years of bond
haircuts save their banks. The German banks had
their losses covered, but not the Cypriot banks.
I guess the Cypriots are second class
Euro citizens.
It all seems like a plan to conquer Euro
banking. The interesting aspect of that is how they
got "Greece" to cooperate in the destruction of
TWO banking systems.



check this: Reggie Middleton
[When Reggie says "Greece" he means Papandreou]

How Greece Killed Its Own Banks!

Yes, you read that correctly! Greece killed its own banks. You see, many knew as far back as January (if not last year) that Greece would have a significant problem floating its debt. As a safeguard, they had their banks purchase a large amount of their debt offerings which gave the perception of much stronger demand than what I believe was actually in the market. So, what happens when these relatively small banks gobble up all of this debt that is summarily downgraded 15 ways from Idaho.