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Archive | 2012

An apology

An Apology I have thought more about what I wrote in The Humiliation of Greece and have come to the conclusion that I was, in part, wrong. So I would like to offer a sincere an unreserved apology to all those who read it I would also like to offer an explanation of where I […]

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The Humiliation of Greece

It’s not often we get to witness the moment when a leader sells his nation for money. Such a moment occurred in Athens last week. At the behest and on the authority of Prime Minister Samaras and President Papoulias, an amendment to Greek law was drawn up last week. There was no debate in parliament, […]

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On the Death of Certain Dreams

All nations, all peoples, I think, have dreams of themselves, of their better selves, of the people they imagine they could be. They are not rational and are often not even true. But then again dreams do not have to be true. We just have them. Or perhaps they have us. But those dreams have […]

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The Muslim Brotherhood, Egypt and Libya

A contact of mine told me that to his knowledge quite a few of the leading players in Egypt’s Muslim Brotherhood, those behind Mr Morsi, have very recently flown out of Egypt to Libya. If true, and I have no way of verifying this at the moment (I’m working on it), but also have no […]

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Giving a Talk Thursday

In case any of you can make it. I shall be giving a talk followed by a knock about discussion .  Title of the talk  “A Tale of Two Currencies” Friends Meeting House in central Manchester, 7 – 9pm, Thursday 6th December. It would be a pleasure to see any of you there.

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Argentina and America – of Vulture Funds and Justice. Part Three

In parts one and two I looked at how Argentina came to default and at how Vulture funds manage to take entire nations to court and contrive to enforce court  judgements upon them. They were concerned with history and the law of sovereign defaults. In this last part I want to look more broadly at […]

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Argentina and America – of Vulture Funds and Justice. Part 2

Sub -level Three. Vulture world. Without carrion eaters the world would be strewn with corpses. Vultures eat the dead. Vulture funds, however, eat the still living. Argentina defaulted on its debts. It borrowed money, said it would pay it all back, signed contracts binding it to that promise and then reneged. It forced its creditors […]

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Argentina and America – of Vulture funds and Justice

Argentina told to pay hedge funds $1.3bn Was the headline in the FT on Thursday 22nd November 2012. The judge who made the ruling, Thomas Griesa, said “After 10 years of litigation this is a just result.” I’m not so sure. In my opinion the headline and the ruling it reports are just the tip of a […]

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Jonathan Sugarman versus UniCredit – an update

WhistleblowerIRL, AKA Jonathan Sugarman continues to fight UniCredit. One rather impecunious man fighting a trillion euro bank. But Jonathan is nothing if not …well I leave you to fill in the blank. The update comes via a very good 12th Nov. editorial in Village Magazine in Ireland, “Blowing the whistle so hard it hurts”. In […]

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Losses on bailed out banks and lies about public debts.

FT Headline this morning: Warning on £66bn public bank stakes Taxpayers may never see the return of the £66bn spent on shares in Royal Bank of Scotland and Lloyds Banking Group… The article is quoting from the Public Accounts Committee report on the sale of Northern Rock. A sale in which, by the way, we, the […]

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