There’s an interesting interview you can read with James Jaeger, (creator of the Fiat Empire movie, available online at http://www.fiatempire.tv/ ) over at
Some good stuff there.
BB
Bad Banks!
Banks or their equivalent can’t be allowed to make a profit at the expense of the rest of the community. This has been recognised for thousands of years. Old-time religions are recorded as being against it. I suspect there was wisdom behind this thinking, it was better understood then that within a community you cannot have one small section effectively running the rest because then you have two societies, the morlocks and the elois, effectively. We’ve grown up in a culture where that awareness has not so much been lost sight of but comprehensively buried. We’re taught nothing of this in our so-called education but it influences every facet of our lives. Everything we buy is loaded with a huge premium that consists of nothing but profits for the banks, profits on loans consisting of money not garnered by prudence and thrift but made up out of thin air. We’ve been had, and we continue to be had.
Plan B From Outer Space
Look at this look; “The MPC needs to have a Plan B up its sleeve, just in case its expected strong recovery doesn’t materialise next year,” said Colin Ellis, economist at Daiwa Securities SMBC.” quoted in the FT today.
Hmmm. Perhaps an over-optimistic assessment of the situation. The MPC, in my view, haven’t shown any evidence of a plan A yet, let alone a plan B. The whole output of the QE exercise has vanished into the black holes the banks have where their reserves ought to be, as I suspect will any more monies they’re given. If we want to get money into the broad, real-life economy, we need a distribution network independent of the existing private banks. I’m still waiting for someone to tell me whether the CDFA banks are properly licensed, ie can operate fractional reserve banking, as if they can’t they’ll be worth FA in terms of CD.
Also, from the same source, “Mervyn King, the governor of the Bank, has said that he would like to see the money supply growing at a similar pace to the 6-9 per cent rate it was before the financial crisis”.
I bet he would – why doesn’t he just wish for world peace while he’s at it?
BB
Clegg pulls ahead…
I’m watching the speeches from the CBI gathering this fine morning… Brown has pulled out reams of the same old claptrap, unbelieveable that he’s still pulling the same stunts… he praised the business community for having more apprentices at the moment then ever before while what they should be congratulated upon of course is surviving at all the mess he’s stwearded them into… but Corporal Clegg has come up with some interesting ideas and observations on banking and specificall reform and competition. Long overdue. These are subjects usually conspicuous by their absence from political discussion – one wonders where young Clegg imagines his future funding will be coming from!
BB
Load Of Cockermouth And Balls
Here’s Gordon Brown, the Man Who Hates Showbiz, popping up in front of the world’s collective lenses in the dreadfully flooded Cockermouth.
Where will he be in the weeks and months ahead, one wonders, as the cry for money, more money and still more money comes wailing up from the abandoned Cockermouth inhabitants trying to live unaided in the ruins of their lives and their town? It’ll be back to being McCavity’s Cat for Gordon, he’ll be nowhere to be seen and unreachable on the subject.
BB
Visions Of China
China’s having to buddy-up with Brazil to get enough soybeans planted there to feed the hungry Chinese. They can’t do this locally because they just don’t have enough water in China. Here’s a clue or three as to why;
http://www.chinahush.com/2009/10/21/amazing-pictures-pollution-in-china/
BB
Financial Services Bill – Same Old, Same Old
The new bill is supposedly going to “lay out plans to improve financial education in schools” says the Daily Mail.
Hmmmm. By how much exactly, one wonders? Will it educate schoolchildren to understand they’re being prepared for financial milking all their lives by a monopolistic banking system? Will they be helped to grasp the consequences of a fractional reserve banking system entirely owned by private interests who are separate from the community compelled to bank with them?
Doubt it!
BB
Narrow Banking, Narrow Thinking
OK, I got it. You have investment banks (casino banks) and you have the kind of banks we typically associate with the High Street where you make deposits and withdrawals and so on. Narrow banking means the two remain separate, see Glass-Steagal, an act bought in after the Great Depression to separate the two banking systems, recently repealed. This has greatly contributed to our current economic woes. If the casino banks are tied up with the high street banks, when the casino banks make a bad bet and they fail, because the’re tied in with our high street banking system they bring the entire economy down with them, hence the expression, too big to fail. Obviously it’s in the communal interest that Glass-Steagal or something similar be reinstated, which is why it won’t happen or even be discussed at any senior level. I keep trying to explain to people that what we live in isn’t run for our benefit any more than a battery farm is run for the benefit of the chickens inside it. Here’s yet more evidence to support my point of view.
BB
Can’t Go Wrong With Gold… Except You Can…
In a scene reminiscent of the origins of the banking system itself (benches, goldsmiths, promissory notes, counterfeiting) it’s beginning to look as though gold has been oversold. Leveraged appears to be the term for counterfeiting in these modern times. Just as in the old days, the origins of banking, goldsmiths gave out promissory notes for the same volumes of gold over and over again, it appears bullion banks are routinely doing the same thing. Cue more bailouts! Audit ahoy!
Selling England By The Pound
The government propose paying down the National Debt by selling off assets such as the Tote, The Dartford Crossing, the Student Loan Book, etc.
This is wrong in so many ways.
You don’t sell your assets off cheap when you have no money because then you’re left with no assets and no money. It’s financial mismanagment on a colossal scale.
Then there’s the National Debt itself. It shouldn’t exist. It should never have existed. The government ‘borrows’ money from banks that the banks don’t have in the first place. They make it up out of thin air. They do this under license from the government. They then demand to be paid interest on top of the original money. Where is that supposed to come from? It’s clearly impossible. This is what we live in. Ridiculous.
If the government can grant a license to a third party to create money electronically, it can do the same thing itself. It could do it at no interest, and grant it to deserving parties like businessmen, or it could create money at low interest, and similarly grant it to businessmen. Under the first scheme everyone would still have to pay taxes, under the second scheme, arguably we could do away with taxation and simply fund everything needed from the interest repayments.
Both ideas are mathematically feasible, in fact, many alternatives to the present oppressive system are.
Why do we keep the present one?
It favours the wealthy. They have the reigns of power, and they ain’t giving them up.
Except that they are, because they’ve lost them from their hands. It’s got away from them, they’ve lost control of it all.
They’ve killed the golden goose.
They’ve over-milked the cow.
The fleas have killed the dog.
The parasites – are you getting this? – have killed the host.
So, it’s over anyway. All this nonsense about this scheme or that scheme the politicians are blathering on about… it’s all just to make it seem like it’s somehow business as usual.
It isn’t.
We face a future we aren’t prepared for and our glorious leaders are trying to pretend isn’t happening.
Be afraid.
Be very afraid.
BB