“We’re all in this together .” Surely one of the brass plated lies which will be seen as encapsulating the failure of our times. Much the way that “For God, King and Country” reminds us of an old order which thundered and then bled to death on the fields of Flanders nearly a century ago …
A horrid thought has been incubating for the last few days. I don’t know how many of you know much about Vulture Funds, what they do and how they do it, but it forms the basis of my horrid thought. Nations issue debt. After it is bought, it often gets re-sold on what is called …
Around a black hole there is what is called an event horizon. It is the point beyond which you can no longer turn back. In Hollywood films the event is often made rather dramatic with lots of shaking and sirens, as if it was like the lip of an approaching waterfall. It isn’t. In reality …
More questions about the stability and probity of German banking this morning following on from the rumour of the €1 Trillion hole in German banks. This from the 21st March Wall Street Journal, Deutsche Bank AG changed the legal structure of its huge U.S. subsidiary to shield it from new regulations that would have required the …
When the Chief Market Analyst of FX Solutions, Mr Joseph Trevisani, in an interview on CNBC on 23rd Sept 2011,was asked about fluctuating currency values, his reply created a stir. What he said was that you had to look at what was going on in Europe – everyone then expected him to mention Greece – but instead he said, “There …
A rumour concerning €1 trillion in German bad debt Read More »
Imagine if you were in a plane and you looked down and spread out beneath you, majestic in the ocean, was an entire mighty battle fleet. And then it sank; Not just one, but every ship in quick succession. What would you think? Would you think it likely that in each ship, by some amazing coincidence, …
Propaganda War: Our Version – The Banker’s Mexican Stand-off Read More »
We ended the last part of Propaganda Wars with the question, “So what are the ways the banks ditched safety and robustness in favour of performance, profit and bonus package?” To answer this we are going to look in more detail at the money banks lend out and are owed back (bank income) which is the Assets …
Propaganda Wars: Our Version – Toxic bloom of lies Read More »
So far in Propaganda Wars we have looked at the Bank’s version of reality in which the banks were blameless victims of unscrupulous and fiendishly clever paupers who ‘took’ loans from the banks against the bankers better judgelment and will. In the next part we began to turn the tables and attack the banks where …
Propaganda Wars: Our Version – Balance sheet instabilities Read More »
The core claim of the Big banks and those who support them is that the financial system, as it is presently constituted, is not only fair and fit for purpose, but essential for our continued welfare. People should therefore stop complaining and knuckle down to suffer whatever deprivation is necessary. All must serve the greater …
Propaganda Wars : Our Version – Risk Weighted Lies. 1 Read More »
The Guardian, on its breaking news ticker, is now running a report from PA news wire under the headline “Hague: Syrian Leader should quit..” The article says, Some 137 countries backed a non-binding resolution at the UN General Assembly in New York supporting an Arab League plan that calls for Assad to step down and …
