Pyramid Comment

This journal takes an alternative view on current affairs and other subjects. The approach is likely to be contentious and is arguably speculative. The content of any article is also a reminder of the status of those affairs at that date. All comments have been disabled. Any and all unsolicited or unauthorised links are absolutely disavowed.

Saturday, August 30, 2008

Olympics 2012

Olympic Fund: Raided 
Olympic Lottery 
Olympic Scheme 
Olympic Torch

The psychological acceptance tactic for the LONDON Olympics has started and is well underway. Predictably, it has to outdo the Chinese offering - at an estimated £22bn. The British Olympics in London (2012) will almost certainly never even be close to the much advertised and extensively promoted £9.3bn. This was always to be expected. Probably around £30-40bn 4 years into the future.

NOTE ADDED: 09.02.2012

The current Labour government won't be here, but the British people will still be saddled with the enormous debt. The label may change, but the situation will not. Howell is announcing that she wants ALL Londoners to feel involved. She forgets that this is the British Olympics NOT the London Olympics. Only to be held in London.

Whoever ends up feeling involved
won't mind paying up, will they?

Even if not 'feeling involved', paying up will still be the requirement. It is to be a huge yoke around the necks of ALL British taxpayers (not anyone else), ONLY those actually paying tax and therefore paying for it. Anyone on benefits and not paying tax does not contribute to paying the debt and indirectly adds to it.

Additional: 11.09.2012

In edit

Thursday, August 28, 2008

British Gas - The Round Up

British Gas - The Attitude
British Gas - The Disaster
British Gas - The Hiding
British Gas - The Owner (Centrica)

This series of articles related to British Gas is now resolved, but not satisfactorily concluded. British Gas has (at last) begun to address (by e-mail) my original 'query'. And this is only 10 weeks after the problems began. Alleged investigations that are now 'complete' do not match up with my own reports and only since energywatch (end July) became involved has British Gas allegedly conducted any investigation.

Without informing the aggrieved party

In secret. Privately.

In camera

Allegedly

The matter rests, but very uncomfortably.

Saturday, August 23, 2008

Quality Goes Deep

Mervyn King

Great play was made at King refusing a pay increase, but what has only recently come to light is the actual pay deal. Unsurprisingly, a very large pension is available for King when he retires. Some £900,000 annually. Hypocrisy of the first order.

The Governor of The Bank of England blames... the banks.

Hedge Fund manager Crispin Odey

It becomes a real challenge to reach beyond the last 'chunder'. However, without these individuals of the Monetary Policy Committee, all 9 of them, what would everyone else do? Probably struggle. Just a bit. These few people sit and decide what interest rates will be for everybody. The rate of interest of any bank or other loan will be determined by these 9 people. One, of course, must be Mervyn King.

The trough gets deeper

And

Deeper

The arrogance of the rich means that they take it as a part of life to be rich at the expense of (literally) everybody else.

The trough is VERY deep

And

STILL deepens

This necessitates an existence below that which rises. The irony being the deeper they go they still can't get away from it as they take it with them. They exist in it with many others.

Wednesday, August 13, 2008

Swimming - World Class Change

Olympic Fund: Raided
Olympic Lottery
Olympic Scheme
Olympic Torch

Most sporting events are tainted with the use of drugs. Swimming it seems is not immune. The use of ergogenic aids now implicates the hydrodynamic body suit that provides more efficient progress through water than skin. It is not standard attire and some swimmers pass through the water without this aid. Coupled with the change in the dimensions of the Olympic size pool to an over all depth of 3 metres (and the surface water washing over the perimeter at the same height) minimises turbulence and wave formation to feed back into the swimmers' path. The increase in depth ensures that any reflected turbulence from the pool floor takes longer to reach the swimmer as it has further to travel. The swimmer will have moved on and is therefore not affected by the impact of any drag.

Theoretically, depending on how quickly the energy is dissipated, a swimmer trailing behind in another lane could be affected by forces not of their own creation. This constitutes a scenario of moving the goal posts and any earlier records cannot be compared with current times as the parameters have been changed. It is the very thin edge of potentially a very wide wedge. A pernicious move is the apparent attempt by the Americans to control the entire event, involving around 205 nations. They demand that finals take place at a convenient time for Americans at home in the evening. This translates to a final event taking place in the early morning in Beijing as it suits the Americans.


Why?

This may be convenient to the Americans at home, but not necessarily any other nation on Earth or the competitors themselves.


It's wrong

When the Olympics come to London (2012), the 5 hour or so time difference would mean America could view the finals around midday to the early afternoon. This may not cause a problem, but this remains to be seen. How much influence should the Americans have over the British Olympics? 

NONE

At what time are the finals to be held? This should be in the early evening for UK-viewers/spectators.


The Olympic Games will cost the British enough and the Americans are invited only to compete. It's high time that the construction and money making farce of 'The Games' should end and 'The Games' return to Athens. It would not only be symbolic, but the stadium and other buildings have already been constructed. The opportunity has been conveniently missed so new and very expensive constructions will continue. Pass the baton over to The United Kingdom to pick up the next tab. It's pathetic.

Saturday, August 09, 2008

Repossession - Speed Ensures Best Return

Adam Applegarth And Northern Rock
Adam Applegarth: News Of The World Allegation
Bradford & Bingley
Northern Rock
Northern Rock Trading Losses (£585m: 05.08.08)
Repossession

The rapid repossession tactic used by mortgage lenders on properties in default does suggest maximising the potential payback. Property values are in decline so the quicker a property is auctioned off the most capital (profit) likely to be 'made'. It is one thing for Caroline Flint (Housing Minister) to state that repossession "should" only be used by lenders as a last resort, but another to enforce such statements with "must". This is government just making noises again, but allowing profits to be maximised. It's always about not upsetting the (money-lending) wrong people. Making a healthy profit will always beat any moral argument.

Repossession in principle is a high earner. The capital is likely to be unchanged from that originally borrowed and interest (profit to the lender) will only have been paid back before defaulting. The repossession is a legal device to enable the lender to acquire the property from the borrower who is defaulting (on the repayment). While property values had been stable or increasing there was no economical reason to repossess as quickly as possible. Now that values are tumbling, it makes good cynical business sense to acquire and sell the property before it devalues too much. That someone is evicted onto the streets does not enter any decent business model. If a lender offers an unrealistic amount, then it does suggest a deliberate ploy to encourage over-extension and so promote a repossession and profit, profit, profit... culture.


  • Should house prices rise then the financial pressure to immediately repossess is reduced. Property value goes up and so a future repossession will acquire that property at a raised value. It becomes a trade-off between acquiring a property immediately or allowing its 'value' to increase. Recovering any outlay by the acquisition of a property (less finance out and more potential finance in) provides the lender with a saleable item. Money to be made, so in principle the sooner the property is 'owned', the sooner 'new' money is to be 'made'. Lending money on a property that is 'worth' more means the lender has 'made' something for nothing.


Seizure of property has increased by 48% since the same period last year. This property can be auctioned off and another mortgage offered on the same property. It's a kind of evergreening strategy. The quicker the repossession, the greater the potential return and future interest (money making) opportunity on the back of debt by using the property to 'sell' another mortgage. It explains why mortgages are traded. Banks and other lenders can buy or sell existing mortgages. The interest is the stake in the 'game': the buy cheap and sell expensive principle and it's recursive. Recycling a property a second time or third time or fourth time... to achieve a second and a third then a fourth... bite of the same cherry. It illustrates the aggressive greed attitude behind the strategy.

Today some 28% of borrowers who are six months or more in arrears face repossession, yet four years ago this would have applied to only 10% who would lose their homes. The Financial Services Authority (FSA) had allegedly criticised some specialist lenders who have made loans to buy-to-let or less well-off sub-prime homebuyers. The Council of Mortgage Lenders (CML) reported steep increases in the numbers falling behind with their mortgages. Those in arrears by up to 3 months jumped by 20% up to 155,600 compared to 6 months ago. The number of homebuyers (mortgagees) in more serious trouble (3 to 6 months behind) rose also by 20% to 75,000 and 6 to 12 months behind reached 42,000 (a rise also of 20%).

  • In the housing crash of the early Nineties, 0.36% of all mortgaged properties had been subject to repossession orders and the current 0.16% is just under one-half of this figure, but still the highest rate of repossessions for over a decade.
Actual repossession actions are expected to reach 45,000 and, if this figure turns out to be accurate, will be up from 26,200 last year. An increase of 72%. Buying on the property ladder still seems to be the reason for living even though it is fraught with dangers. Such has been the success of the psychological conditioning. And it goes on relentlessly. Build more, sell more, trap more. Controls could be introduced by government to protect from abuse, but there is nothing to be gained. For government.

Turn the screws, increase the FEAR and worry and maximise the potential for absolute Control Of The Masses.

In England, protection against profiteering house vendors has not been 'discouraged' by creating a verbal contract situation as in Scotland to prevent a sale termination at the most stressful 'last minute', especially when chains of sale are at risk.

Some vendors play this game

Penalties must be applied to stop this happening. But government refuses to act. The question is:

Why?

Housing charities stepped up the pressure on the government to intervene in the repossession disaster, describing the figures as shocking and urged ministers to act:

Repossession SHOULD only be used as a "last resort": Caroline Flint, Housing Minister

Reading from a script


The disaster is the perception of borrowers and is quite the opposite of the lenders' attitude. The real money seems to be made on extending bad loans then exploiting the misery caused. It all seems to be in the BIG business mind-set.

Sunday, August 03, 2008

British Gas - The Owner (Centrica)

British Gas - The Attitude
British Gas - The Disaster
British Gas - The Hiding
British Gas - The Round Up
Centrica (website)

Wikipedia (independent):

  • Centrica was created in 1997 when British Gas plc demerged into Centrica plc and BG plc (later BG Group plc).[1] The demerger grouped British Gas's gas supply, services, retail businesses and gas production business of the Morecambe gas fields under Centrica. Centrica is the largest supplier of gas to domestic customers in the UK, and one of the largest suppliers of electricity, operating under the trading names "Scottish Gas" in Scotland and "British Gas" in the rest of the UK.
The reference contains interesting articles relating to 

Centrica business

Centrica has the legal right to trade in energy in the UK using "British" in its business name. Whether it has the moral right to use British with its track record exemplified by this series of thematic articles would make a separate issue. Alternatives are available for the supply of gas and electricity. Recently, Centrica has been reported to have made profits of over £1bn with a £144.6m shareholder payout. Healthy dividend. This falls into the ethos of a business 'working' for its shareholders and not its customers. Proposals to invest in nuclear power suggest cash will be needed. Centrica Interim Results. It further suggests an excellent reason to attempt to justify massive price hikes in energy prices. The 'conference' in Birmingham sounded more a celebration party for middle managers rather than how to justify to the public the average 35% price hike and how the public is to be treated.

The price rise is up to 44%

Alternatives are available for the supply of gas and electricity. Directors are paid to justify the price hikes they are responsible for imposing. Retrospectively, the best they can do is apologise for the contemptible, disgraceful and shameful behaviour of their so-called 'middle managers'. This has been communicated across the world. It seems that attitudes run deep: from the top right down to the middle. Probably, the great majority of subordinate staff are decent people trying to do a decent job. It's just very difficult.

Does it matter? Who cares

They'll get over this minor hiccup as they continue with sending out threatening demands for payment for non-existent or fabricated bills of non-verified or verifiable virtual energy usage. Potentially illegal entry of premises is suggested. Drilling out a door lock is not unknown or particularly difficult and constitutes illegal forced entry.


The imagination can go wild
if given free reign!

Stories relating to (British Gas) Centrica are plentiful. British Gas has done itself proud. Alternatives are available for the supply of gas and electricity. The general principles of natural gas storage (US) apply to any location although the details may differ. British Gas cannot do this. So, nuclear is the best way forward. Madness Of Nuclear Power Profitable even though very, very dangerous and a one-way ticket to Hell. Spending ALL your real or virtual money will never, ever buy the return ticket.