Georgey baby!
The time for pussy footing with government spending is OVER.
I am calling for a monetary Jihad.
I don’t want to see spending cut – I want it SLASHED.
Take your Chainsaw-of-Justice to the sheeple and skin them alive.
Here they are:
Start with the “babies-for-benefits” moms.
But don’t stop till you’ve you’ve skinned the last banker of his bonus.
Slay them all.
It’s your destiny
As I’ve mentioned before, the amounts of cash that’s been handed over to banks is monumental – few appreciate this, or even seem to care, but when it hits them, suddenly the dullards are awake.
Pick the way it will affect you from the list below:
Tax increases (Income and other)
Benefit cuts
freeze on government pay
Cuts to services
Inflation (as the Gov seeks to reduce some of the debt by printing)
Working longer – higher pension age.
Instead of being one of the screaming sheeple – be like me, learn to enjoy it. I suggest you get the SAW video series. When people watch SAW they naturally identify with the victims, I however, have found you can choose to identify with “Jigsaw” the perpetrator.
It’s the Benefit cuts and Public sector pay freezes I’m really looking forward to. I’m hoping for public sector wage cuts – come on, they do nothing and get a huge pension.
]]>Here we go again - manufacturing consent - the neocons in the US are itching for an attack on Iran...
Don't fall for it people, remember the WMDs !!!
]]>what keeps a government honest?
what stops a country printing more money?
basically - because there are multiple currencies, people will "sell out" of the mismanaged ccy. global ccy = bad idea.
]]>why, oh, why.
the reason is simple - and I will tell you plain as day.
THE RICH DO NOT PAY TAX.
even if you earned as much, within a very short time they would have more than you again. After all, you pay 40% on anything over pocket change.
case in point - Goldman Sachs
profits last year: 2.3bn, tax paid 14m ( you work out the percentage )
nb) it shouldn't even exist anymore - it needed $10bn from Uncle Sam to keep going - yet this year will pay "biggest bonuses ever" - go figure.
]]>
]]>why? banks want to increase their deposits (too much lending not enough deposits = bad - remember)
the BOE's QE program is another gift from the public to the banks - to shore up their balance sheet.
add it on to the bail-out money.
QE is retarded - think about it like this - it takes years to become obese. years of ignoring whats going on. your cloths don't fit, you buy new ones. get a bigger sofa. get rid of the mini and buy an SUV for your fat ass to sit in. One day the doctor tells you - dude you gonna die of heart attack.
What do you do?
1) stop eating so much, go to gym, slim down.
2) eat more food even quicker, in an attempt to "eat your way out of obesity"
whatever they tell you, the public ain't getting that money back. higher taxes for the next 30 years, to keep bankers in jobs, while you lose yours.
like i've said a zillion times, they should have let the banks go bust and covered the depositors - would have been MUCH cheaper. (and thats how capitalism is meant to work anyway)
]]>neither working ... 13 children... and ppl wonder why taxes keep going up.
The British Labour Party's great endevour - the mass breeding of the can'ts, don'ts and won'ts
When socialists come in from obscurity
their hearts awash with pity
full of self rigtheous surety
they sing this well known ditty
From each according to his ability
to each acording to his need.
This will lead to civility,
for we are a wiser breed.
But the result of all their policies
is always a huge tax bleeding
And a national atrocity,
the dysgenic underclass breeding.
Shares in Phorm dropped 25% on the news.
BT carried out a clandestine trial of Phorm 2 years ago - which probably breached UK data protection law. The police were uninterested but pressure has been building in the blog sphere.
Finally Phorm has been dropped.
http://www.guardian.co.uk/business/2009/jul/06/btgroup-privacy-and-the-net
]]>This does not take into account pensions which will need to be paid for, NHS, teachers, civil servants etc.
That liability is about £1.1Tr (78% of GDP)
Public sector pensions - quite a liability there.
]]>This has been building for many years, it should have been addressed about 10 years ago.
They were running up a deficit in the good years - how could they cope in the lean years - of course they can't.
Fitch last week downgraded its rating on California's general obligation debt making it the lowest rating of any U.S. state.
Going forward, there is speculation, the state's vendors and agencies will be paid with IOU notes - LOL.
http://www.cnbc.com/id/31677238
The rest of the USA ain't far behind.
]]>The current favuorite would be the IMF's Special Drawing Rights.
The US Dollar is the current world reserve currency.
In a dig at the USA:
"The economic development model of debt-based consumption is most difficult to sustain," the PBOC said.
Indeed.
There is clearly angst in China and Russia, but perhaps particularly China because of the vast amount of US Treasuries they hold.
Will the Dollar Tank??
]]>http://www.mint.com/blog/finance-core/hyperinflation-the-story-of-9-failed-currencies/#comment-32276
Hyper inflation has occured;
Weimar Germany: 1922-23
Hungary: 1945-46
Chile: 1971-81
Argentian: 1975-92
Peru: 1988-91
Angola: 1991-99
Yugoslavia: 1992-95
Belarus: 1994-2002
Zimbabwe: 2000-2009
Interesting fact - When Zimbabwe became an independent African state in 1980, the Zimbabwe dollar was actually valued higher than the US dollar, at a rate of 1.25 USD to 1 ZWD ... today (17th June 2009) 1 USD is worth 37,456,777 ZWD.
]]>Standard and Poor's did not change the UK's triple-A rating, but said it was at risk without a credible plan to put its debts on a "secure downward trajectory" by the next government.
S&P said that government debt could reach 100% of GDP by 2013 - a level it said was incompatible, if sustained, with the top credit rating.
Currently, public debt is 53% of GDP, according to the latest ONS figures.
One reason it has been changed is the belief by the ratings agency that the government will eventually be liable for costs of between £100bn to £145bn (between 7% and 10% of GDP) for bailing out the banking system - more than double the cost estimated by the Treasury
Speculation about the future of the UK's AAA has been around for a while now.
Couple of months ago, ratings agencies mentioned that no one was above review, re: the US.
I expect more QE, I like gold.
]]>It is intentionally low key, for behind the door is an alternate reality.
It’s 10pm. I go through the door. Today 3 members of the security detail are on reception. I don’t recognize any of them, this is never good. I have my identification and I am on the permanent access list. Still the main security guy insists he can’t let me in.
“Some kind of irregularity”, he says.
I ask him to call one of the technical staff.
The technician comes down. The technicians are an entirely different breed. He “oks” me. And says he’ll wait while I get “signed in”. He stares out through the blue blinds, into the real world. I collect my pass. He seems pensive, I’ve taken him away from his terminal.
We walk to his office, passing more security in the various corridors. His office is filled with monitors. He is chatty, perhaps his first conversation for some time.
I go into our area, the doors have steel plates bolted onto them. There is a warning, “if the alarm sounds you have 30 seconds to evacuate this area, after which the doors will be automatically sealed” – it says something else about gas being pumped into the room, I try not to think about this.
I do my work quickly and leave.
I exit the door.
Outside a bunch of hoodies walk past and a girl appears to be puking outside Wetherspoons. I am back in the real world.
It’s 10pm and I have been working straight for 16 hours.
]]>This story seems to have come to light some time ago. I missed it. In case you missed it, I’m posting the video.
]]>
]]>19. We have agreed to support a general SDR allocation which will inject $250 billion into the world economy and increase global liquidity, and urgent ratification of the Fourth Amendment.
Interestingly $250B is exactly what George Soros called for called for on the 31st March. Note that he is one of Obama’s main backers.
link
GS also said:
"I do not think America is ready to have the dollar replaced by SDRs as the international reserve currency," he said, but added: "In the long term it is something that may come in consideration and in the long term it may be in America's interest."
The ground work for that is now laid, that’s the curious reference to the 4th amendment.
The reference to ratifying the Fourth Amendment (of the IMF Articles of Agreement) means that Obama has agreed that the U.S. will vote to greatly expand the use of SDRs. They have always resisted this.
SDRs are the candidate to replace the Dollar as the global reserve currency.
]]>The USA was the Environmental Villain.
Europe was the hero - spouting the usual nonsense: "We'll just have to cut back to a simpler lifestyle, bla bla bla..."
I mentioned at the time that the USA was going to make the greatest contribution, not by cutting back, but by technology.
Here we are - One step closer to limitless clean energy.
]]>
As I live in London anyway, yours truly decided to check out the G20 Demo happening today. The march started at Embankment and ended at Hyde park. There were a huge number of people – even after it started raining.
Initially the huge number of people impressed me greatly. I sat in a pub in Pall Mall and watched them go by – after 2 hours of sitting there – they were still going by.
But as I sat there I began to realise something. Newspaper columnists often say that these guys are “rebels without a cause”, this is not true, they do know what they want, but each group wants something different.
As group after group went past, I realised that each group was committed to one and only one issue. And these issues have very little to do with each other. The protest is misleading – the protestors may be close geographically but they are miles apart politically.
The situation in Gaza, has very little to do with Climate change.
Climate change has very little to do with fighting Racism.
Fighting racism does not have much to do with Anti-capitalism.
Anti-capitalism does not have much to do with Nuclear disarmament.
Nuclear disarmament does not have much to do with poverty in Latin America.
And so on....
This point – that the protestors are all campaigning for different things – because painfully apparent when listening to the speeches given at Hyde park. Speakers tried addressing the crowd as a whole, cramming in a mention of as many issues as they could, trying to draw connections between them. It was an epic fail.
The second reason that these protests are going nowhere fast, is that they will not engage current disillusionment caused by the banking crisis. There is real anger among working people (including the middle class) that huge amounts of tax payers money is being used to effectively pay the bill for a 10 years long bonus-party by some of the highest earners in the country.
The police have even said they fear the disgruntled of the middle-class becoming foot soldiers in a “summer-of-rage” – They need not fear. Of the hundreds of groups that went past, not more than 2-3 engaged this issue. The vast majority voiced either minority concerns or sprouted the tired hard left rhetoric they have been for decades. Rhetoric that does not, nor ever will, resonate with the vast majority of working people.
Perhaps they have become so all consumed that they can no longer identify with the man on the street.
Would I like to join a “Socialist International” – Not today thanks.
Participate in the liberation of Gaza? – Where is that again?
Deforestation in Brazil – Not at the top of my priority list.
Poverty in Latin America – I gave 50p to Oxfam, now go away.
Nuclear disarmament – Are you crazy?
Undoubtedly there is an opportunity for someone to make huge political capital out of the economic crisis. But unless they can address the issues that are current and pertinent to a wider audience, they will miss the moment.
]]>On the 16th March Russia proposed a new reserve currency should be discussed at the G20 - based on SDRs
http://www.infowars.com/russia-proposes-creation-of-global-super-reserve-currency/
The treasury have also made noises about using SDRs
On the 23rd March China called for a new reserve currency controlled by the IMF - based on a basket of currencies
http://www.ft.com/cms/s/0/7851925a-17a2-11de-8c9d-0000779fd2ac.html
Today (25th) Obama dismissed calls for a new reserve currency.
http://news.bbc.co.uk/1/hi/business/7964037.stm
Barclays lawyer's Freshfields worked into the early hours to have the material removed from The Guardian's website.
All 7 documents are on wikileaks in PDF format.
An FT commentator desribed the situation as:
]]>I will say it was absolutely breathtaking, extraordinary. The depth of deceit, connivance and deliberate, artificial avoidance stunned me. The intricacy and artificiality of the scheme deeply was absolutely evident, as was the fact that they knew exactly what they were doing and why: to get money from one point in London to another without paying tax, via about 10 offshore companies. Simple, deliberate outcome, clearly stated, with the exact names of who was doing this, and no other purpose.
Until now I have been a supporter of the finance industry - I work with people there regularly and respect many of them, and greatly enjoy the Financial Times and other financial papers. However this has shone a light on something for me, and made me certain that these people belong in jail, and companies like Barclays deserve to be bankrupt. They have robbed everyone of us, every single person who pays tax or who will ever pay tax in this country (and other countries!), through both the bailouts and schemes such as this.
From one of the wealthiest countries in Africa to the poorest - this is what communism will do for you.
This guy still has support in left wing circles in the UK.
It's disgusting.
]]>http://newsvote.bbc.co.uk/1/hi/business/7932269.stm
will the pound go lower than the euro?
will old people need to get by on £5k a year....
lets wait and see - it's all so exciting, better than East Enders anyways.
]]>As savings rates head to 0% - whats the incentive to keep the money in the banks? The BAA showed a 2.2b fall in personal deposits in Jan. Several city fund managers have said the whole banking system will end up being nationalised.
Things are worse in the US. When people are close to loosing everything, they will particularly resent the government taking a hefty slice from them. Tax revolt?
]]>BNP Pete on the the Lindsey Oil Refinery, Unions and a General Strike.
]]>The perpetrator pays a high return on "investments" to last months subscribers from the money collected by this months subscribers. There is no investment. Obviously it collapses in on itself eventually.
Bernard Madoff has been charged with operating one of these babies, with losses to the tune of $50B. yes, that’s a B not an M.
So the guy gets caught...
Mr Madoff told them [FBI] he knew why they were there, and there was "no innocent explanation".
He said he was "finished", that he had "absolutely nothing" and that "it's all just one big lie", and that it was "basically, a giant Ponzi scheme" ...
He told them he "paid investors with money that wasn't there", that he was "broke" and "insolvent", that it "could not go on" and he expected to go to jail.
Well, at least there aren’t the usual excuses and ego self-preservation.
]]>