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Content about banking

April 18, 2012
Cost Of Insuring Spanish Debt Skyrockets

The Euro crisis continues to build as the European debt bubble becomes ever more fragile. While most of the media focus has been on Greece, Spain has been building its status as the next big collapse.

The cost of borrowing money from the markets has been yo-yoing around the 6% mark as so-called market sentiment passes judgement on Spain's outlook.

Yesterday the markets seemed to believe that Spain was a better bet than it has been, with the interest rates charged on its debt falling to 5.89 percent. Spain had planned to raise 3 billion euros in their bond auction, but managed to exceed expectations by raising 3.2 billion euros.

March 20, 2012
High Noon At The Financial Casino Coral

Numerous sources, both mainstream and alternative, are reporting of a convergence of events in March that point to a massive break point in the ongoing financial collapse.

On the surface, we are told that “all is well in dodge city”, with the usual stuffed suit cast of characters rustling their prize winning financial shenanigans cattle from one summit to the next, apparently without stopping to water their horses, or oil their saddles. But the stark reality is that the cattle are getting seriously restless, to the point of stampede, for those at the sharp end of their steel capped “fiscal compact” riding boots.

January 31, 2012
Leveson Inquiry - Control of the Press and Media by David Bell’s Common Purpose?

Commissioned by Common Purpose sponsor David Cameron, the Leveson Inquiry is tasked to examine the culture, practices and ethics of the press, in four modules. These are: 1. The press and the public, including phone-hacking and illegal behaviour 2. The press, police and public interest 3 The press and politicians. 4.  Recommendations for a more effective policy and regulation that supports integrity, ethical standards and freedom of the press. 

It all sounds ‘apple pie and ice cream’, but should we trust Leveson? In the public interest, let’s look at evidence and report it in a straight and ethical way.

Many people believe this inquiry is necessary, seeing that the press and media have, over time, adopted practices which are intrusive, sensationalist and, as with the phone hacking scandal, unlawful.

Private Eye Spots The Rot

Private Eye’s Hislop has hit the nail on the head, stating to the inquiry ...

January 11, 2012
Bizarre: The Anti-EU Blogger Who Despises National Banking

In her recent Daily Mail blog article on the topic of Declan Ganley’s call for a United States of Europe, based on the precise formulation set out on the US Federal Constitution, and explicitly based on Hamiltonian national banking, ME Synon betrays a violently anti-federalist outlook which, while entirely appropriate with reference to the anti-republican corporate kleptocracy that animates the European Union, simply replays the age old republican vs federalist dispute which plagued the founding fathers in the early years of US Independence.

In her recent Daily Mail blog article on the topic of Declan Ganley’s call for a United States of Europe, based on the precise formulation set out on the US Federal Constitution, and explicitly based on Hamiltonian national banking, ME Synon betrays a violently anti-federalist outlook which, while entirely appropriate with reference to the anti-republican corporate kleptocracy that animates the European Union, simply replays the age old republican vs federalis

December 2, 2011
The Problem With Positive Money

Positive Money bills itself as “a simple solution to the debt crisis”. With a cursory glance, it might appear to be making some of the right noises. On closer inspection, however, there’s just nothing there.

Positive Money states that it wants three things:

1. Make banks ask our permission before they gamble with our money.

December 2, 2011
The Solution Begins With Glass Steagall

If Positive Money is not the answer, what can we do? The solution is actually not that hard.

We must begin with full Glass Steagall style banking separation now, today. Not this ring fencing nonsense being pushed by Mervyn King and George Osborne.

An analogy suggested to me, which I think is perfect, is to compare the financial system to a ship: naval architects invented watertight compartments in order to stop the ship sinking when holed. Full separation of retail and investment banking is equivalent to the watertight compartments and is the only way to guarantee the ship won’t sink. The ring fence idea is not watertight - there’s a gap at the top, just like the unsinkable Titanic.

September 23, 2011
Welcome To Weimar

The statements from within the global financial "leadership", and reflected in the mainstream press release mashup squad, have been staggering. There is "already a raging panic around the solvency of the European banking system", wrote the Telegraph's Jeremy Warner, "Most people will find the idea that more than four years after the banking crisis began, the banking system continues to require squillions of public money almost beyond belief".

The European Central Bank's "European Systemic Risk Board", a committee set up last December to manage the degree of panic in the system, began really stoking things up a couple of days ago, in a press release issued following their third scheduled meeting. They warned of a "rapidly rising risk of significant contagion [which] threatens financial stability in the EU as a whole".

Other quotations from various sources include:

You need a lot more firepower to be a circuit breaker!

September 20, 2011
IMF Still Pushing Lie That "Economy" Has Anything To Do With GDP

With typical sophistry, the IMF has announced that the global economy has entered a "dangerous phase", as if it hasn't been in a terminal phase since 2007. They have downgraded their predictions for "growth" and warn that continuing political and economic problems in the USA and Europe could push these regions into a "double dip" recession. Whoopie-doo.

With typical sophistry, the IMF has announced that the global economy has entered a "dangerous phase", as if it hasn't been in a terminal phase since 2007. They have downgraded their predictions for "growth" and warn that continuing political and economic problems in the USA and Europe could push these regions into a "double dip" recession. Whoopie-doo.

September 20, 2011
Look To The Swiss, Mr Cable

Yesterday's rather pathetic speech by Vince Cable demonstrates once again that British politicians - even those who appear to be critical of the banks - are, in reality, working for them.

Yesterday's rather pathetic speech by Vince Cable demonstrates once again that British politicians - even those who appear to be critical of the banks - are, in reality, working for them. Rather than coming onto the Liberal Democrat conference platform and telling the truth, Cable lied his way through his half hour speech. He claimed for example, that the legislation arising from the so-called "Independent Banking Commission" provides the means to stop the "dangerous nonsense" of bank profits going into bonuses and banking losses covered by the taxpayer.

September 6, 2011
Constitutional Convention - To Reassert Our Constitution

22nd October 2011 - Kings Hall Stoke On Trent
5th November 2011 - Friends House, London

A constitution is a vital part of any country's system of government. It provides the rules by which the people agree to be governed. It is a contract, the terms and conditions under which those elected must govern, be they a monarch, president or parliament.

The people as a collective are the ultimate supremacy. Once accomplished, a constitution cannot be changed without the express will of the people  -for to do so would be a violation of contract and would negate the authority of those in breech.

Britain Has A Constitution

Britain has a constitution of considerable standing, the foundations of which were established almost 800 years ago with the signing of Magna Carta in 1215, and reasserted 322 years go with the Declaration of Right and Bill of Rights in 1688.

September 4, 2011
Boccacio's Ghost Haunts The Corridors Of Power

Past Is Not Prologue

Readers of my articles in the UK Column over recent years may have puzzled at the long silence. Without boring you with the details, let it be said that a tactical retreat is not to be confused with capitulation, but part of a wider strategy.

Notwithstanding tactics, all that was pertinent with respect to the economic and political situation as it stood at the time my last article went to print, had already been said. It therefore only remained to wait for the next major phase shift in the situation before summoning the inspiration to offer a genuinely new perspective.

Such a phase shift has now occurred.

A New Financial Order Emerges

September 4, 2011
The Cattle Are Being Stolen, You Bloody Cowards!

In 2008, then South African president Thabo Mbeki’s mother, wrote an open letter to the South African people, severely criticising the nation's political leadership. Published in the Johannesburg Sunday Times, she concluded: "South Africa wake up. Zemk’iinkomo Magwala Ndini! (The cattle are being stolen, you bloody cowards!)"

Since 2007, hundreds of billions of pounds of banking assets have been wiped off the books. For a year or two now, we've been told that these same banks are "profitable" again, but the truth is that its only through hyperinflationary injections of cash that this illusion has been made possible.

February 14, 2011
An Open Letter To Tim Farron

Dear Tim,

I’m writing this open letter to you because we’ve simply run out of time.

February 14, 2011
Save This Nation - Rebuild The Economy

The ignorance of the majority of our political classes to the enormity of the financial crisis that we face is staggering. Their wilful denial of the fact of the continuing collapse of our nation, its institutions and ways of life is absolute deliberate treason. In fact, I would go further, it is murderous, and that fact will become clear as the destruction of the NHS takes its toll.

As a result, they prefer to decimate public spending, while at the same time increase VAT and other taxes, in order to pay off the banking mafia that pays their salaries.

Policy Of Bailout

In 2008, our then "Prime Minister", Gordon Brown, set himself up as the "global chancellor of the exchequer" and took his tale of global bailout to the G20 conference. He organised the cooperation of the other nineteen nations in setting about a policy which could only ever have had one outcome.

Gordon Brown is not a stupid man. He certainly understood exactly what he was doing, just as he did when he gave "independence" to the Bank of England in 1998 and when he sold off the nation's gold for a song.

November 1, 2010
Glass Steagall Today, Before It's Too Late

Britain's banks are bankrupt. We have said it many times. They are trading while insolvent, and in this country at least, that is illegal.

The British establishment is owned lock, stock and barrel by these banks, and so nothing is done. They have already taken us very close to the point of no return, and the financial collapse is only one symptom of their fraudulent thinking.

August 9, 2010
Surviving The Perfect Storm

Britain is bankrupt. There's no getting around that fact. We have a national debt of over £900 billion and rising. We have a massive black hole in the public pension pot of £1.2 trillion. We have personal debt of £1.5 trillion.

That is a total shortfall, today, of £3.6 trillion.

£6 Trillion - £188,000 Each

If we add corporate debt onto this figure, then the nation, its people and its employers owe somewhere in the region of £6 trillion to bankers in one form or another, complete with its burden of interest. And we are told we can solve this debt problem by creating more debt.

December 17, 2009
From Dubai To Copenhagen: Dawn Of A New Dark Age

As James Palumbo put it in his recent article in the Daily Mail, "The news is so bad that the politicians don't want the general public to know what's going on". I could not have put it better myself.

October 12, 2009
Recedentia: Legatum Sounds The Retreat

Smarting from a summer of virulently anti-capitalist, anti-globalist, anti-well-just-about-everything sentiment, the Gods of the free market pantheon gathered at a recent half day seminar on the causes of the financial crisis to discuss and debate their preferred solutions amongst friendly (present) company (accepted).

April 14, 2009
Bank Of England, Sterling & Government Treason

Many people believe that the Bank of England is a privately owned corporation. Many people believe that it's owned by the Rothchilds.

Neither of these beliefs is true.

The truth is much worse.

The story of the Bank of England is the story of the British Empire. The British Empire was never a political empire. It was always a monetary financial empire, as much a parasite on the people of Great Britain as the rest of the world. The idea of the Victorian's British Empire bringing civilisation to the darkest parts of the world is one that needs real reconsideration by many Britons.

October 16, 2008
Barberism!

Last night's Channel 4 News carried an interview between John Snow and the TUC's Brendan Barber.

Commenting on the unemployment figures released earlier, Barber said, "We want to see the same focus and energy and determination that has been applied to the crisis in the banking sector applied to the real economy. We need a recovery plan for the real economy, and that's got to be about maintaining demand in the economy, not letting jobs go needlessly."

Good start.

"Its got to be about maintaining public expenditure programmes ..."

Uh, oh.