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.

Friday, February 10, 2012

Quantitative Easing - Hush Money

Money can buy silence

The ‘buzz-term’ Quantitative Easing has resurfaced. So, £50bn has been introduced to the economy. What is it? Where did it come from? It is not conceivable that such an amount of ‘cash’ has appeared. And who would get this money anyway? It’s all a fantasy. None of it exists. A euphemistic description for ‘the taxpayer underwriting (bailing out) further debt’. This could not be seen to happen, hence the pathetic attempt to hide it behind the skirt of Quantitative Easing. The effect is inflationary whatever the cause. And to massage the interest rate. Keeping it low. Presumably, the interest to pay (by the taxpayer) on such an enormous ‘loan’ will be less than a higher rate of interest without that loan. And who gets the interest anyway? Certainly, the taxpayer doesn’t pay himself.

Government Gilts
Gilt Market

This is all smoke and mirrors. To create a fug. And this to hide a herd of rampant elephants in the room. Imagine the flood gates to have opened and the deluge to be ‘attacked’ with small buckets each of which has a hole in it. The attempt to ‘deal’ with the deepening water might appear positive, but the consequences are dire. This is posturing government hopelessly unable to do anything about the real problem. The failed financial system. The system is so complex and globally far-reaching that it is not possible to sort out the web of intrigue.

The ‘system’ failed on the same day of its creation. It was doomed from the outset, but the finger in the dyke attitude must prevail in the attempt to cover over (up, hide - DA) the failure.

The fact that senior banking figures, those responsible for the affair (not necessarily the cause of it - DA), are/were paid bonuses for failure (in terms of £millions) often more than their salary is almost self-defining. This can have the effect that the truth will not come out. Speculation remains unconfirmed.

Thursday, February 09, 2012

Knighthoods And Pensions

Fred Goodwin has had his knighthood 'shredded'. This is as a consequence of his 'services to banking'.

But is the pension payable retained?