I apologize for my ignorance. But may I suggest that rather than take offence which is so easy you opt for the more generous, ‘offering to help’ option?

We all have much to learn. The point of this place is for people to help each other.

You have helped me. For which I thank you. I only wish you had done so with a more generous spirit.

I shall now correct the article.

To withstand the implosion of the Ponzi scheme, we can’t afford any more leakage from corporates taking real cash out of the UK by legal avoidance. As Starbucks shows, there’s no good business case for getting the publicity of how many 100’s of millions you’ve avoided in tax whilst your consumers are losing their safety net.

Publicly declaring how much UK corporation tax is paid each year is worth a book of legalese loophole “closures”. Fairly paying tax has to become a trading advantage – our behaviour can drive that change – all profits are made at the outer margins of business – lose 20% of turover and see how profits disappear for most. This battle is as important as the busting of the shadow banking con.

We need to win them both at about the same time. This is about the only site I visit that gives me hope that we can do it somehow…

Interesting points Bob. I reckon they’ll continue to sit on what is estimated at 750 billion GBP and allow the economy to deflate (largely because this money hasn’t been redistributed to the lower 50% of society through progressive taxation) and then the value of their over-infalted assets will start to fall considerably as lack of demand effects commercial property.

The money will be ultimately used to buy up their own shares to maintain asset values – but to no avail as the UK economy is so demand deficient.

Hi Golem,

Please don’t think I get to meet the big wigs because I’m important. It is only becuase I’m the only western face in the room and only there for that reason. It seems to be matter of manners to greet me.

What I’d like to ask is how Mr Gang is allowed to state these obvious truths without fear or favour. I will have a dig around on him, or rather ask mrs40.

Johnny,

Exactly so. Every high street I visit in the UK could be any other., this has not happened in China…. Yet.

It’s BIG and growing. Options for getting it under control, even supposing they wanted it under any sort of control, which I don’t think they do – but even supposing, I think the answer is there is no chance.

As for printing. That is what we have been doing and it will never be enough to buy up/replace the value that was/is there on paper. What has to happen is people just have to say – OK I once again believe all those valuations and all those promises to pay up if…. Once that belief takes hold it re-inflates. If it doesn’t or some other ‘disaster shakes the whole thing again then there is a good chance it implodes. It nearly did but was ‘saved’.

If it dos implode it is new world order (political as well as financial) of one kind or another.

But seriously, thanks for the posts on securitization. People gripe about the financial system being out of control, but what a f-ing disaster.

I’m wondering how big this means their shadow banking situation has become and what options they really have for getting it under control. Is this going to end up being a situation where money is eventually printed up to buy the crap out of the system?

Very interesting. Thank you for telling us. It is always great to hear from those actually there. Thanks again.