Pyramid Comment: September 2008

Banking Panic - The Plan (Exit)

Any true meltdown will occur the other side of Hell where it's even hotter. The exit of the one leads to the entrance of the other. From the 'frying pan and into the fire' scenario.

Restructuring Nearing Completion (16th March 2009)

It's ironic to an extreme that after almost 96 years, efforts are seen to be made to massage the decision of Congress made on 23rd December 1913 to create the Federal Reserve System that would lock America into interest that spirals only upwards.

How the Fed helped fund World War I (1914 - 1918)
The 'Fed'

Business oligarchs have ruled America for a long time, but the veil that obscures the World Stage is belatedly being drawn back to reveal the true workings behind the scenes. The bail out is described as a failure. The plan failed as the bail out didn't proceed. This isn't necessarily failure and depends entirely on perspective: The United States House of Representatives rejected the bail out bill that was designed to save the banking system at the expense of the taxpayer. Voted down by 205 (for) to 228 (against).

There is a major flaw in the system here: Election Day is November 4. Doing the right thing for the wrong reason or the wrong thing for the right reason. Either way around it demonstrates the major weakness in any governmental system. Effecting policy through the influence of the people whether it's right OR wrong and giving the impression of listening to the people, but only when it's expedient. The people are making it clear that they resent the notion of saving the banks from their own folly. People are struggling with the consequences of error, yet must suffer more because of the bankers' greed. In the 'good times' banks are expensive and in the 'bad times' even more so: potentially $700bn. Add interest and this escalates probably by around 50% into over 1 $trillion, saddling the nation with a debt that could never be paid off and so locking the (global) system into perpetual control.

Expediency is a term associated with election

Topping up the emptying vessel appears to maintain stability. If there is a danger of overflowing, the rate at which filling-up is allowed to happen is slowed. It's illustrated by the flow of crude oil from under the ground to above ground. To maintain a desirable price level, the flow is increased to create a glut and so depress prices or restrict the flow and cause a shortage. Prices will escalate in accordance with inevitable demand. Similar in principle to massaging interest rates to control the money supply. Raise the rate and make borrowing expensive and lower the rate to encourage borrowing. The obvious manipulation is when cheap borrowing encourages the outward flow to the consumer and then interest rates go up after the loan has been extended. It is always in a dynamic state of flux and the Winners And Losers game is always heavily biased towards the lender. Let finance flow cheaply outwards (create the debt) and expensively inwards (create the problem).

Inevitably, property prices would tumble as the increased cost (not value) far exceeds any ability to pay. The denial of any problem is exacerbated by burying the head in the sand. It doesn't even have to be very deep, only to be unsighted. If a tree started to produce money instead of leaves only the idiot would imagine Paradise could exist in Hell. Like the snowball.

It illustrates the strategy similar to massaging share prices. Make the high prices tumble and then buy them up cheap.

The host is waking up to the infestation of the parasite. The 'Fed' offers a huge injection of $100s billions to ease the global financial problems and prevent another Great Depression, but in reality it is fuelling the problem by deferring it and making a much greater problem and hiding it behind the curtain so successfully pulled across the stage. Until now. The machinations have finally been rumbled by a majority: 228 to 205 and the party's over. The mess has to be cleared away and it will take a long time, but will happen. Redistribution of wealth doesn't create anything and those (parasites) that have lived and thrived for so long on the people (host) are now about to suffer. Sympathy for the financial parasite should be crushed as none was shown to the suffering of the people in the 'good times'. The banks in the UQ (aka UK) Ltd would crush the customer in the drive to 'create' money. An example of redistribution in action: create nothing, but take everything. It's total denial and literally living the lie of greed and gluttony, but when all nourishment has gone and nothing is left the parasite dies.

Power and Apathy

A great depression has not happened in the sense of that earlier one in October 1929, but this time the misery is to be received by the parasite. In the UQ (aka UK) Ltd conditions differ as the government behaves like The 'Fed' though without the say of the people. Just dump the debt on the people by nationaisation: Northern Rock. Bradford & Bingley. The financial system must now work in the global money markets and nothing can ever be the same again, so time will reveal answers even though it's too late to dump this government. The people will now be more awake to see what this New Labour government with very old ideas has been up to for so long. The disguised band of control freak capitalists has been revealed for what it is: a parasite. The dream is shattered.

The war is far from over, however, as the wealthy will now regroup and attempt to complete the redistribution. Money is still to be had and the parasite isn't yet dead, but only dying. The host is still alive and the parasite has no intelligence and can only understand soulless wealth.

It's potentially a start for a new beginning, but like all parasites adaptation can produce a more virulent, and consequently highly dangerous, strain.

Be aware
Be alert

Ecstasy: The Confused Class A 'Drug'

Class A Drugs
Drugs
Ecstasy
Ecstasy-Parkinson's Connection?
Update (04.01.09)

The issue concerning 'downgrading' a class A drug to class B (Misuse of Drugs Act 1971) illustrates the total confusion. The crass stupidity of messing with any kind of substance that has a major physiological effect on the human system is almost a separate topic, but playing with fire always results in

serious burning

Drug Abuse - A Personal View

Can there be such a combination as drug and abuse when the "drug" ecstasy (MDMA) is misused? It's really a contradiction of terms. A drug should have a positive benefit to a body dysfunction, correcting a physiological deficit and logically the "drug" has no positive and beneficial use and so cannot be abused. It cannot be called a drug, unless the perverse definition is accepted: recreational drug use. Not only is the substance voluntarily (usually) taken into the body, but its integrity is completely unknown except that the integrity of the drug dealer is assumed to be above reproach. It's the same with tobacco products: it would be so easy to 'doctor' the weed (soak in a solution of some poison and then dry it out), package as a genuine product then sell it illegally (!) masquerading as the 'real deal'. The potential for population damage (!!) is enormous.

It would be a perfect (and undetectable) method of controlling behaviour as would the introduction of any other substance into society using such clandestine protocols (Devil's Advocate).

Or 'alcoholic' drinks: the assumption is always that any outlet 'legally' selling alcohol responsibly to responsible adults, only sells the genuine product. It is so simple to theoretically 'doctor' such a product, but theory can move into actuality very insidiously and with great subtlety: the iron fist in the silk glove that delivers the 'product' to the consumer literally 'in your face'. A clarified solution of indistinct colour purporting to be of alcoholic content can contain anything that dissolves in the liquid. Even harmlessly adding water to dilute the product would go virtually undetectable and create a 'huge earner' (criminal governance): adding as little as a 10% volume of water to an alleged alcohol strength of 40% (v/v) takes that content to just under 38% alcohol by volume. Add a 20% volume of water and this reduces the strength to around 36% (v/v). The amount of alcohol saved can produce further volumes of diluted product and would be virtually undetectable without a proper quantitative analysis. Illicit booze and illicit cigarettes like the pirate DVD industry would be a menace. As long as the integrity of the 'seal' appears to be intact, the contents will be assumed to be genuine and it's really bizarre to imagine that criminals without any shred of integrity would be concerned that they might deal in a highly merchantable, and profitable, product that could contain simply excess water or something much more dangerous. And with the influx of faked goods (counterfeit)...

Ethanol Combustion

The 'drink' could even be strengthened by removing water to mask all kinds of added bitter substances. The scope for damage is extensive. Profitability and the desire to cause harm are just different facets of the same entity (Devil's Advocate).

Ecstasy could remain a class A substance if only because of other dangerous contaminants. This in itself if a confused view. A contaminated class A or class B substance both have the same potential, and additional, dangers. Considering downgrading or not based on the possible contaminants is a specious argument (seemingly well-reasoned but actually fallacious). Adulterated pills are by definition contaminated by adulterants. That should be enough to stop any further argument in its tracks. But is not. It appears that there must be other reasons for any considerations at all. There is a risk of brain injury and death by the (mis)use of ecstasy alone and the strength of various 'dealership' sources is certainly highly variable.

Rhetoric about downgrading should be simply moved to outlawing with severe consequences (Singapore), though this, of course, then highlights the paradox of the ineffectual legal system in the 'powerful' (the illusion) UQ (aka UK) that is powerless (the reality). Unless (of course?) you are a law abiding citizen. Then the state has real power. The considerations allegedly focus on whether ecstasy remains as harmful as other class A drugs (cocaine and heroin) and here all arguments descend into vacuity.

Both nicotine and alcohol are unclassified legal substances (as tax revenue attractors) and alcohol is in the top five most harmful drugs. The classified illegal class A substances ecstasy and LSD, come well below both alcohol and nicotine.

Banking Panic - The Plan (13)

'The harder I work the more luck I seem to get.'

Luck is engineered. Jobs are lost, lives and careers wrecked, but 'failing' and 'failed' banks are saved. The knight in shining armour on a white charger is the global taxpayer bailing out failure and in the process being sacrificed on the altar of greed and gluttony. The financial system that is idolised cannot be allowed to go under whatever the cost in hard currency or human terms. It must survive. The worship goes on as meltdown continues and the environment gets even hotter. Banking Master Plan In the UK, Bradford & Bingley is another Northern Rock. Pump in another £40m of taxpayers money. Not real money, but the fiction of virtual money. The capitalist ideology of privatisation so eschewed by (New) Labour illustrates the shallowness of its politics. Nationalisation is the 'new' way. Look in the cupboard and amongst the skeletons are the old ideas. A nationalised industry does not grow. There are no incentives to improve, though not improvement in terms of efficiency and standards. Only financial return and the promotion of inflation. The method of making more money. Redistribution ensures that any growth is illusory. Or growth draws the curtain across the stage where redistribution takes place between acts. Either way it's the denial of truth. Investment capital is needed for expansion and in the process the investors' coffers swell. Everyone appears to be happy with the growth.

But

inflation also grows and by at least as much. Ultimately, the faster or bigger something grows the faster it is eaten up. The paradox is that growth results in demise. Expansion means swelling in size though the illusion is made successful by eating up the competition. Just getting fatter until all the 'food' on the financial table is all gone. The real end-game won't be reached until the circus goes around just once more, but this time the rescue plan cannot exist. It's playing the game of borrow to pay off a loan. Even now that 'game' is more and more difficult for consumers to play as on-borrowing is not happening. Banks won't even lend to each other (inter-lending), but expect to be bailed out nevertheless. The consumer (host) will perish, yet the banks (parasite) live. Pure illusion. Obviously, reality demands that at end-game the host dies and then the parasite dies shortly afterwards. It's predictable, but worry about it tomorrow and tomorrow always does comes. Doesn't it? In reality there is no tomorrow and the lie is now being revealed for what it is.

Illusion through denial

Banking Panic - The Plan (12)

Banking Panic - The Plan (Prelude)
Banking Panic - The Plan (1)
Banking Panic - The Plan (2)
Banking Panic - The Plan (3)
Banking Panic - The Plan (4)
Banking Panic - The Plan (5)
Banking Panic - The Plan (6)
Banking Panic - The Plan (7)
Banking Panic - The Plan (8)
Banking Panic - The Plan (9)
Banking Panic - The Plan (10)
Banking Panic - The Plan (Nearly There)
Banking Panic - The Plan (Arrival)
Banking Panic - The Plan (The Next Phase)
Banking Panic - The Plan (11)
Banking Panic - The Plan (13)
Banking Panic - The Plan (Exit)
Banking Panic - The Plan (1st Encore)
Banking Panic - The Plan (2nd Encore)
Banking Panic - The Plan (3rd Encore)
Banking Panic - The Circus

Virtual Money

The key to the system is the 'creation' of the illusory and manufactured money machine. The fixed wealth based on resources that are truly sustainable (gold and diamonds) cannot be changed. Gold and diamonds will survive essentially forever, though unsustainable products (natural oil) are destroyed and converted into other products (CO2 and water) and these themselves are essentially indestructible. Anything else is based on a perceived worth and value. The failing financial system that must literally be saved at all costs is a purely artificial concept. The lock-in is through the virtual money and renewable debt that comes with it. It's as though the 'provision' of £$100s billions is real. None of it exists. Any vault is actually empty.

Confounded Interest

Trading gold reserves simply acquires a virtual and theoretical debt. It is money that doesn't exist, but is a very real shackle. Any 'loan' is quickly (usually) spent in the short-term to leave a very long-term debt.

The rhetoric of the 'bailout' is vacuous and nothing but a very cynical and highly surrealistic illusion. It's a belief that everything will be satisfactorily rectified. Terms like meltdown are wholly misleading, but should involve descriptions of human destruction. Much more accurate. The reality is that the so-called failing financial system is actually very successful. It is providing the lenders with a very heavy illusory ring and binding the global population in perpetuity to a renewable shackle. The system will settle to it's new level, but with a substantially elevated position of strength and control.

Until the next time

When the dust has settled and everybody is happy again and saddled with the new massive debt that the system was designed to 'create', life will go on as everybody works to sustain the parasite: it's classical host/parasite and an Emperor's New Clothes scenario. The idea of Bush and Brown 'doing a deal' to straighten out the twisted system is laughable. Brown was Chancellor of the UK for 10 years and then promoted to a position to steer the ship onwards. The disaster left behind is covered by misdirection, but blind people follow the all-wise leader. The assumption is that people in power actually know what they're doing and behaving like goldsmiths manufacturing rings. Stitching together a deal or stitching up the people? The focus should be on how these two could possibly resolve anything. The backgrounds of Bush and Brown are substantially different, but the common ground is power. Bush understands the crude source of operation and Brown the theory: the mechanics. Happiness in misery is a sickening paradox, but it's the State of the Union.

Or the UK is in-a-state. The entire series of 'failures' suggests a bandwagon. Businesses (banks) that are ailing, or getting nervous, see the way out of problems being funded by the taxpayer. It's almost a 'clear the decks and start again' message. Historically, a World War has provided the means to start again and this episode is technically a bloodless coup on a global scale.

A 'coup de monde'

Bayh-Dole Act

In The United States of America, what is the Bayh-Dole Act?

Universities retain ownership to inventions made under federally funded research. In return, universities are expected to file for patent protection and to ensure commercialisation upon licensing.

Bayh-Dole gave universities control of their inventions. In 1980, the federal government had approximately 30,000 patents of which only 5% led to new or improved products. Many patents were not being used as the government did not have the resources to develop and market the inventions for which it had assumed ownership and there was a need for reliable technology transfer mechanisms and for a uniform set of federal rules to make the process work. Technology transfer has helped to spawn new businesses, create industries and open new markets and ensures that products and services based on federally funded research reach the public.

Speeds up the commercialisation process of federally funded university research and helps new industries to develop quicker. The range can be illustrated by Stanford’s Cohen-Boyer patent on the basic gene splicing tools to the Axel patents, which provided a completely new process for inserting genes into mammalian cells to make protein (Columbia University).

The Bayh-Dole Act is vital to the university as a whole. University gross licensing revenues exceeded $200m in 1991 and by 1992 that figure had risen to $250m. Gross Licensing Income is reported in the AUTM survey at $1260m (2000).

Banking Panic - The Plan (11)

George Bush is the 'oilman' on watch during the financial meltdown who does too little, too late: the 8 years in office come to a close in November 2008. Blaming the Democrats: "To reduce pressure on prices, we need to increase the supply of oil, especially oil produced here at home".

McCain is not an oilman, but 'running-mate' Sarah Palin is the governor of Alaska that does have substantial oil reserves (coincidence?). "The Federal Reserve should get back to its core business of responsibly managing our money supply and inflation."

The Federal Reserve System (History)

Massive withdrawals from money market funds are normally treated by investors as the equivalent of cash:

"A lot of people use these money market funds as bank accounts, they pay their bills with them. If they suddenly had to stop people taking out their money, you'd freeze the payments system and there would be panic in the streets."

Kevin Logan, senior economist at Dresdner Kleinwort.

Legislation is possible to allow further government intervention in the markets and to allow the Treasury to buy up the toxic mortgage investments that fuel this crisis.

Hank Paulson instructed congressional leaders to an emergency meeting on Capitol Hill (Thursday: 18.09.08) and take quick and decisive action in an attempt to stop investors pulling money out of even the safest financial institutions. If government failed to act, Great Depression-style queues are envisaged outside banks.

"The underlying weakness in our financial system is illiquid mortgage assets that have lost value as the housing correction has proceeded. The federal government must implement a program of to remove these illiquid assets that are weighing down our financial institutions and threatening our economy. The ultimate taxpayer protection will be the stability this troubled asset relief programme provides to our financial system, even as it will involve a significant investment of taxpayer dollars. I am convinced that this bold approach will cost American families far less than the alternative: a continuing series of financial failures and frozen credit markets unable to fund economic expansion.

I will spend the weekend working with members of Congress of both parties to examine approaches to alleviate the pressure of these bad loans in our system so credit can flow again to American consumers and companies. Our economic health requires that we work together for prompt, bipartisan action. I look forward to working with Congress to pass necessary legislation to remove these troubled assets from our system. When we get through this difficult period - which we will - our next task must be to improve the financial regulatory structure so that these past excesses do not recur. This crisis demonstrates in vivid terms that our financial regulatory structure is suboptimal, duplicative and outdated. I have put forward my ideas for a modernised financial oversight structure that matches our modern economy and more closely links the regulatory structure to the reasons why we regulate."

The $trillion bailout will be sponsored and underwritten by the taxpayer and it's more sensible to lose just one leg rather than both. The gun to the head ensures the correct 'choice' is made when an alternative is 'provided'. Typically, after years of the sewer festering, when everything goes belly up the attempt is made to cover the mess. When the genie's out of the bottle it is rather too late. The really worrying aspect is that people like Paulson remain to oversee the 'correction' that is assumed will be a competent reaction. Buying a bank's worthless securities has always been one option and plans to lend against these assets were temporary solutions, like the Bank of England's Special Liquidity Scheme and other "injections of liquidity".

Good money after bad

The American authorities have protected the system from further destabilisation and, short selling or not, the taxpayer's (nationalisation) burden could only get greater. Among the (updated) growing list of 'casualties or victims' in the international sale:

Northern Rock (UK: 22.02.08)
Lehman Brothers (U$: 15.09.08)
HBOS (UK: 18.09.08)
Bradford & Bingley (UK: 22.09.08)
Washington Mutual (U$: 25.09.08)
Fortis (Belgium-Dutch: 29.09.08)
Various (05.10.08)
Hypo Real Estate (Germany: 06.10.08)
Iceland Bank (Iceland: 06.10.08)

   The upshot of the rhetoric is that the system is "suboptimal" and "outdated" and it has taken the collapse of a global system to realise this. The global financial structure is outdated and greed and gluttony prevail. Nothing new here, actually.
   The system has shown up the obvious: when money and profit and growth, growth, growth are the only words that are understood. Greed and gluttony will be very close by. On a global stage, it's all hands to the pumps as everyone (the global taxpayer) bails out the incompetent and failed banks.
   The overwhelming hypocrisy is that when the banks mess up, this taxpayer subsidy is always there to bailout disasters. It abuse of the tax system and tantamount to theft to shore up a rotten structure, but the financial system must be saved at all costs.
   Literally.
   In the 1930s Franklin Roosevelt used $1.2trillion (present-day equivalent) of federal funds in the Reconstruction Finance Corporation device to fix the banking system and get the economy moving. The savings and loans rescue in America at the end of the 1980s cost $125bn, but this time it's different. The shift in income, wealth and power has moved from America and Europe eastwards to China.
   This redistribution of the wealth was massaged by the price of oil. It would seem that effectively, the Chinese lent the money to buy overpriced houses fuelling a problem, so building up huge trade surpluses with the US and Europe ($trillions). All those cheap DVD players and toys.

China Gateway

   Interest rates and inflation going down as cheap electronic goods flooded the market. The Gulf states and Russians hold dollar assets. For now. The US could face a liquidity crisis and a run on the dollar... Black Tuesday: 29th October 1929

Devil's Advocate

Banking Panic - The Plan (Prelude)
Banking Panic - The Plan (1)
Banking Panic - The Plan (2)
Banking Panic - The Plan (3)
Banking Panic - The Plan (4)
Banking Panic - The Plan (5)
Banking Panic - The Plan (6)
Banking Panic - The Plan (7)
Banking Panic - The Plan (8)
Banking Panic - The Plan (9)
Banking Panic - The Plan (10)
Banking Panic - The Plan (Nearly There)
Banking Panic - The Plan (Arrival)
Banking Panic - The Plan (The Next Phase)
Banking Panic - The Plan (12)
Banking Panic - The Plan (13)
Banking Panic - The Plan (Exit)
Banking Panic - The Plan (1st Encore)
Banking Panic - The Plan (2nd Encore)
Banking Panic - The Plan (3rd Encore)
Banking Panic - The Circus

Banking Panic - The Plan (The Next Phase)

Banking Panic - The Plan (Prelude)
Banking Panic - The Plan (1)
Banking Panic - The Plan (2)
Banking Panic - The Plan (3)
Banking Panic - The Plan (4)
Banking Panic - The Plan (5)
Banking Panic - The Plan (6)
Banking Panic - The Plan (7)
Banking Panic - The Plan (8)
Banking Panic - The Plan (9)
Banking Panic - The Plan (10)
Banking Panic - The Plan (Nearly There)
Banking Panic - The Plan (Arrival)
Banking Panic - The Plan (11)
Banking Panic - The Plan (12)
Banking Panic - The Plan (13)
Banking Panic - The Plan (Exit)
Banking Panic - The Plan (1st Encore)
Banking Panic - The Plan (2nd Encore)
Banking Panic - The Plan (3rd Encore)
Banking Panic - The Circus

Predictably, the escalation of the original Banking Master Plan has simply continued and the redistribution and acquisition of the global 'wealth' becomes more complete. Fewer large banks exist that were once many smaller banks and the creation of a World Bank is well underway. Various financial institutions have been swallowed up by the larger fish. Building societies that became banks on the more global money markets and insurance businesses are all disappearing into the paradoxically less visible giants. It used to be where to hide a tree? In a forest. But now there are so few trees that they are no longer recognisable and have effectively vanished. The power and associated control of these 'disappearing' entities has continued to grow. The stranglehold on the increasing population tightens as the vault that holds the global wealth continues to swell. The method of control. The many poor getting poorer and the few rich getting richer and all of it more or less unnoticed. Every time, a failed bank has 'lent' so much money, 'creating' virtual money in the process and every time the tax payer who borrows and pays back the interest on that loan becomes the uninvited sponsor to bail out the failed bank. Nationalisation has been reborn. It is the 'new' approach. It is so commonplace to hear of a greedy bank that has failed as a result of its own gluttony, and how it is to be rescued by those who have been its prime feedstock. The irony is staggering and STILL nobody notices. Two of the world's largest investment banks have gone, nationalisation of the largest insurer in the US (AIG), and the takeover of Halifax Bank of Scotland (UK) by Lloyds TSB for £12bn. This will inevitably create an awesome bank with around a third of the mortgage and savings market. Lloyds TSB (originally just Lloyds before the TSB acquisition) swallowed up Scottish Widows and Abbey Life (now sold): original connection.

This buying /selling which deals with the business of death/dying demonstrates the corporate nose is harder than diamond. But it loves the stench of money, however tainted.

This, however, is small fish compared to the scope of wresting £$100s bn from the global system. Normally, such a deal would be blocked by the competition authorities, but the government has relaxed local UK rules to save HBOS from going under. It's coincidental that George Bush exits in November 2008 after 8 years. An accidental coincidence of global financial meltdown and rebirth of that new found wealth:

£$Trillions: £$1,000,000,000,000s

The food for the global population and its drinking water are the two main targets. Control these and control is very, very effective. Control financial resources as well and its just about completed. The trinity of more people, increased building and locking up water inside the concrete that binds the people is so simple in principal. The final part of the square is grasping and crushing the physical with the psychological. And still nobody realises that the prison has been under construction for many decades. Wars are designed to control nations. Weapons are created to enable effective wars. Transport is created, but as global gridlock becomes the clearer objective more and more resource is consumed. Ultimately, no more conventional fuels. All conventional engine-powered modes of transport will have to be abandoned and replaced with purchased electric vehicles. Out with the old and in with the new. Nuclear power will be the game of the future. Terribly, terribly dangerous, but apparently clean (no CO2 emission). And a mere detail that it is lethal. It would seem that nobody notices or cares. Madness Of Nuclear Power A Nuclear Future

The veil of duplicity continues to be lowered in front of, and in full view of, the world stage

The general view is that the current woes concerning the instability of the global money markets is slowing and troubles will soon be over. That's the view that is desirable and is being promoted. However, the control of the global wealth has changed considerably. The wealth has not been increased or decreased. That cannot happen, but it has been redistributed so much that it has not been noticed. That is a supreme paradox. The victim can never notice that he is dead. The way £bns have been moved, yet remains unseen for what has happened, remains quite remarkable: The Emperor's New Clothes. Around £102bn was added to the value of the FTSE 100 index of the UK's largest companies, which jumped 8.8% to 5,311.3 (some numbers) described as "easing the pain for savers and pension fund holders". The UK stock market had recovered all its losses of the week. In New York, the Dow Jones Industrial Average closed up 3.35% at 11,388.44 (some more numbers). Investment banks are targeted for blame where incredible bonuses are paid: between £1-10m Virtual Money Newspaper comment is typical (The Independent, Saturday 20.09.08):

The UK stock market thundered to its biggest one-day rise of all time and share prices around the globe soared amid hopes - after a week of unprecedented chaos on financial markets - that there could soon be a solution to the credit crisis that has threatened to bring the economy to its knees.

In the US, President George Bush announced the most wide-ranging and expensive government intervention in the financial markets in US history. This doesn't properly describe the meaning of expensive. It is government intervention to authorise the release of taxpayers' money to plug the hole created by financial gluttony and so massage the system with the justifiction of providing a solution. Another example of Create the Problem and Provide the Solution. The expense is to the public purse to bail out failed enterprises. The allusion to wide-ranging is, of course, action to halt proceedings, but only after it's too late. Create a weapon, use it successfully and very effectively, then outlaw the use of that weapon so it can never be used against the creator. A one-way rout. This suggests too little, too late by design. Short selling Investors on both sides of the Atlantic hailed the success of curbs on the speculators who have been stoking panic by deliberately driving bank shares lower. However, this may not be enough. The publication Investment (The Oxford Club) describes short selling:

Secrets to Fast Profits in a Falling Market

Short Selling - Wikipedia The increasing global population (growth in the marketplace) has the benefit of creating a potentially even more massive victim. The scale for systematic abuse is enormous - and increasing. It doesn't use up much mental energy to determine that fraud and crime are growing 'industries'. This can only get worse with an increased growth in the marketplace (host) for the parasite to feed on.

Another related issue with the forever increasing population though in places that have little potential for growth is IVF, but paradoxically this appears quite unconnected: the selected method of providing human egg cells.

When did the term Toxic Mortgage first appear? Like Climate Change or Credit Crunch: just seemed to happen. Who invents new words to be swept up in language?

Peston's picks Winners And Losers Bradford & Bingley It is wickedly coincidental that George Bush is coming to the close of 8 years as US President and it is seems almost an exit strategy. The US government behaves like the cavalry and "rides to the rescue" by donating taxpayers' money. Support from the Treasury Secretary (Hank Paulson) could cost "hundreds of billions of dollars". In only the last few years description of money are in terms of £billions and no longer £millions. The illusion is that everybody is getting rich. Not so. In the UK, the legal minimum wage remains around £5/hr and as education standards continue to decline, for the many this won't increase much in the long term, yet profits race towards the few.

Banking Panic - The Plan (Prelude)
Banking Panic - The Plan (1)
Banking Panic - The Plan (2)
Banking Panic - The Plan (3)
Banking Panic - The Plan (4)
Banking Panic - The Plan (5)
Banking Panic - The Plan (6)
Banking Panic - The Plan (7)
Banking Panic - The Plan (8)
Banking Panic - The Plan (9)
Banking Panic - The Plan (10)
Banking Panic - The Plan (Nearly There)
Banking Panic - The Plan (Arrival)
Banking Panic - The Plan (11)
Banking Panic - The Plan (12)
Banking Panic - The Plan (13)
Banking Panic - The Plan (Exit)
Banking Panic - The Plan (1st Encore)
Banking Panic - The Plan (2nd Encore)
Banking Panic - The Plan (3rd Encore)
Banking Panic - The Circus

Thanet Earth

Thanet Earth
Thanet Earth (BBC video)

China Gateway - The Facts

China Gateway
China Gateway - Key Points
China Gateway - The Players

The following entry is based on information provided by:

IMS, 11 Grosvenor Road, BROADSTAIRS, Kent, CT10 2BT
01843 604 253 or inmeds@yahoo.co.uk

Thursday 9th October, 2008

Thanet Council will decide on whether to allow China Gateway to go ahead. Thanet's environmental future is at very serious risk. We need to act NOW if we want to prevent this.

WHAT'S HAPPENING?

A development company called Commercial Group Properties (CGP) plans to build a huge Chinese warehousing operation at Manston to distribute their goods throughout Europe. The site will cover roughly 175 acres. Phase 1 will be on the existing Manston Business Park. CGP has made it clear that they will only go ahead if they get permission for a further two phases which will cover prime farmland.

WHY SHOULD YOU BE WORRIED?

OUR WATER. The plan is to build on one of Thanet's most important sources of drinking water - an underground reservoir or aquifer. There is a serious risk of our water being contaminated. And if they seal it off, then the aquifer may run dry.

OUR FOOD. Across the world the price of food continues to rise, food security is now a serious issue. This is the time to protect our farmland, not build over it. Large amounts of farmland have already been lost - we simply should not lose more.

OUR ROADS. Traffic already overloads Thanet roads. Combined with Thanet Earth's contribution of increased traffic, China Gateway's transport requirements as a major distributer for electronic goods through Europe will be horrendous. HGVs, lorries and vans will be required to service the operation bringing very serious congestion with gridlock a possibility and an immense increase in CO2 emissions.

OUR COUNTRYSIDE. This is one of the last remaining areas of rural Thanet. Take a look at the Thanet Earth site (BBC video) should you want confirmation as to how quickly our fine rural landscape can disappear at an alarming rate. Make no mistake on this, once gone it will be irreversible. It's been suggested that Home Tourism may increase in these difficult times, but what limited tourism we now enjoy will surely dwindle to nothing if we don't protect what we have.

Any plans for a commercial airport will be compromised since access for potential travellers will be affected. Known difficulties would prevent holiday companies even considering Manston as a serious contender for an airport.

EMPLOYMENT

The developers claim China Gateway will bring jobs. The area does need jobs. But this is a WAREHOUSING project. Warehouses are highly automated. The numbers of jobs created will be negligible. China's economic fortune is based on cheap labour. The minimum wage here is twenty times that in China, so it would appear that this may be a cynical ploy to enhance the prospect of gaining planning permission.

WHAT CAN WE DO?

If we don't tell the council our views they will proceed; we need numbers of people to be active. Write, phone or e-mail you local councillors. If you need to find them call 01843 577000. Tell them of your concerns as listed above: WATER, FOOD, ROADS and ENVIRONMENT.

Tell other people about it, many simply don't know what's going on. You can give out leaflets and take part in demonstrations. Ring 01843 604 253 for more details.

IMS, 11 Grosvenor Road, BROADSTAIRS, Kent, CT10 2BT
01843 604 253 or inmeds@yahoo.co.uk

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