How often in a lifetime can we get it so horribly wrong?

By tomtom

Then fail to see the wood for trees

(A Tom Stack New Year Message)

Everybody and his dog is doing it so why not me? 

Mostly it’s due to the infighting as a power grab becomes the only game in town. Then we get a wimp followed by a bunch of social climbers out to create their nirvana with a police state and identity cards.

  There should be somekind of minimum qualification for an MP other than joining a political party and keeping your nose clean. But with the country more or less divided between left and right with a few in-betweeners, what hope is there that we’ll ever get it right?

  All it takes is a few percent to swing it either way, but when a party gets elected in a landslide with fewer votes than the winning party got in the previous election. There has to be something fundamentally wrong with the system per se.

  Look, all we want is for the country to prosper so we can all enjoy a good life and do a bit of Getting-on. But these days it’s like a latter day version of St Wilibrod’s March. Only this time its two steps forward, then three steps backwards.

  Can you believe the timing of a chancellor, claiming to have ended boom and bust when anyone with an ounce of cokum, could see the biggest bust in history on the horizon. Heading our way faster than a speeding bullet.

  Maybe we don’t know what we’ve got till we get it and meanwhile for a generation now on the ropes, it’s still on its way. Surely it’s not beyond the wit of all these educated superstars, with more letters after their name than populate the alphabet. To sit down and work out what we need to do as a nation to prosper.

   With half the world beating a path to our doorstep for handouts they couldn’t get anywhere else, surely there has to be a limit to our largesse even if it does revolve around creating money out of thin air. It most likely doesn’t have to be this way and there must be enough examples in the world of why not.
 
  In 1997 we stood on the threshold of a Golden Age, till a landslide of epic proportions chucked it all away on bonfire of hubris. We need a return to commonsense values, for there is no bounty to be had in everlasting growth. It ignores the natural laws of supply and demand.

  So till we realise this and get to grips with the fundamentals, I guess there’s nothing else for it, but to carry on like this. It’s swings and roundabouts, till we’re all gobbled up on the altar of diminishing returns. It’s being so cheerful, as keeps me going.

Prosperity for all in the New Year, so we can all be miserable in comfort.

Watch this space, I’ll be back!

Tom.

Most voters 'now want Britain to leave EU'

You'd better believe it  

Most people now want Britain to leave the EU, according to figures, in a Guardian/ICM poll, which showed 51% would vote to take Britain out of the European Union, against 40% who wanted to stay in and can you beleive  9% couldn’t give a fig?

  A poll is released that indicates a hardening in Eurosceptic sentiment among the public, as Nick Clegg warns David Cameron not to back out of Europe and dismissed plans for a referendum on the country’s membership of the EU as “putting the cart before the horse”. That's probably where the Lib-Dem cart has been, since the demise of William Ewart Gladstone the true Liberal stalwart who put country before party or political expediency and personal ambition.

  But can you really believe that 40% want to continue with this idiotic attempt to create a Federal Superstate dictating to the teeming masses of Perfidious Albion, how they should live their daily lives in jeopardy of Euro Dictats? Dictats which have no provenance in democratic accountability, as presaged by a ridiculous system of proportional representation geared to ensure the supreme powers of unelected Commissars attuned to a Union of European Socialist Republics a (UESR) While Gulags, Secret Police and Kangaroo Courts, go unchallenged.

  Surely it’s time to end all this nonsense and the continuous bleating of the UK’s Lib-Dem nonentities, like Nick Clegg. Who presumably will be air-brushed out at the next General Election as we hope and pray that only Lib-Dems will be suckered by the dubious attentions of the ghoulish UK Independence Party’s - ‘One Trick Pony’.

Referendum and out Now! You know it makes sense.

Watch this space, I’ll be back!

Tom.       

Is the Western World on a rollercoaster to nowhere in particular?

Quite surely it is if the apparatchiks of the EU remain unfettered

Though the International Monetary Fund in a recent report believes the developing world is fast catching up with the developed world, the overall impression is that it slightly hampered by recession across Europe, the USA and Great Britain. After centuries of progress and the transfer of western technology to the third world, in pursuit of profit margins, it is apparently of little concern to the transferees of western production lines to China and beyond that in the end it must be limited by the ‘Law of Diminishing Returns’.

After WWII it was Japan playing catch up and Germany rebuilding that the new factories and production facilities should inevitably have an advantage in export markets as the latest machinery and production techniques were incorporated. So a period ensued where both Germany and Japan were able to build worldwide export markets, with the tremendous advantages, bestowed by this progress.

But the fact that globalisation is all about equalisation is beyond question, though if the limit of transfer is the pursuit of profit we will undoubtedly arrive at a point where this transfer of production techniques becomes self-defeating. So the obvious question then is can the west survive intact as a service sector?

We see the answer to this, in the efforts being made to shift the balance of power in this respect by the attempts from Brussels and the USA to master in financial services. Even tiny Sweden attempted to get in on the act, when it audaciously entered a bid to takeover the London Stock Exchange.

Then the New York Stock Exchange ventured east as did the NASDAQ, though in the end they only managed to pick up the dregs, in Paris and Bonn. The reason for all this manoeuvring, is probably that it suddenly dawned on these entities that the ‘City’ of London had become the Clearing Bank for the World and for as long as that remains the case for the UK, the rest of the world can be our workshop.

The real answer to that one however will await the way things pan out, though in reality it probably depends on supply and demand curves. There has to be a point though, where the demand for the latest technology is sated somewhat by the ever rising prices at the hands of the Fractional Reserve Bankers and the ten percent year on years demands of the investment houses that drive this financial sector. Maybe they reckon they can go on, year on year constantly driving up prices to satisfy this element of the equation.

But once again this relies on supply and demand and history dictates that as in the past a flushing out of the system has to occur. This happened on many occasions in history. In fact as recently as the 1700s, when Sir Isaac Newton as Master of the Royal Mint in the days before decimalisation of the currency, had wanted to set the price of a Golden Guinea at - £1-0s-10½d, but was overruled by parliament. They decided in their wisdom to make it £1-1s-0d. This altered ratio of the gold to silver price and allowed British merchants to transfer almost the entire inventory of continental gold to Britain

At some moment in time parliamentary government must wake up to the fact that it cannot forever, go on issuing interest bearing debt and allowing the lending banks to create money out of thin air. In addition to which, the writing-off of debt destroys credit. The very thing they claim we need to revive the economy.

Ergo - The ‘Law of Diminishing Returns’ - The first choc ice is ace, but by the time you get through the third or fourth, it’s yuck!

Watch this space I’ll be back!

Tom.

Five years on, the Great Recession is turning into a life sentence,

So wrote Ambrose Evans-Pritchard Sunday Telegraph 12/08/02

Five years into the Long Slump it almost seems as if we are back to square one, he continued and here's a response -  by kind permission of - manonmidlandmainline

A life sentence heh! Clearly Mr A.E-P with your vast experience, you above all should have recognised this at the outset. It was always going to be this way. After six failed dalliances with Socialist Chancellors since 1924.  Personally I warned of it back in 1997 when the then Chancellor turned over the setting of the bank rate  to the MPC

I reckoned he just wanted someone to point a finger at when things went belly up, for he had no faith in his own judgement. Always the final call should be with the policymaker in the Treasury. That's where the buck should stop.  

My sympathies lie with the present Chancellor in his quest to find the best possible fix for the overstretched millions who thought there was such a thing as a new paradigm

You cannot grow yourself out of this Fabian Socialist debacle when the demand curve lags behind the supply curve. That's how markets work. No matter if it's commodity markets  or otherwise.

When the entire world is choking on production at tuppence per hour, it is inevitable if you are reliant on the home economy and  exports and that it has got to be a long game.

All that much longer when the main protagonist  let things rip on the premise that he ended 'boom and bust'  Genesis Ghapter 41 verses 29/30. Seven years of plenty followed by seven years of famine.

Though as you rightly point out, it could be a generation and more. Especially now we can begin to see the true consequences of 'Laissez-Faire Socialism' at work, courtesy of our former Chancellor the self-proclaimed - ' Son of the Manse'.

Watch this space I'll be back!

Tom.

Blair’s guilt over wrecked economy?

Crocodile tears

It truly defeats me that Anthony Blair has the gall to even dream about making a comeback into British politics, for he appears not have taken onboard the politician’s mantra (never apologise, never explain). But to sit there in anticipation that he can mitigate the effects of his stewardship by coming clean when he above all is responsible for the appointment of Gordon Brown, as the dottiest chancellor ever, beggars belief.

It’s truly astounding in that anyone so fiscally naïve could be put in charge of the nation’s finances and then sit there claiming to have ended boom and bust. When the entire nation was going to hell in a handcart on the back of the biggest bust in modern times is absolutely ludicrous. I say it again as I said back in 1997, when they turned over the setting of interest rates to the Bankers. The Bankers are only ever going to set the rate in favour of their Fractional Reserve Banking system.

For I knew then and I know even more so now that this business of creating money out of thin air, together with the ability to do it vested in the Bankers, in no way follows the principles of the Yellow Brick Road. It merely permits the Investment Bankers to use whatever means they can, to get their sticky little mitts on as much as they can to use the system and clip clop off into the sunset with obscene amounts of the racked up interest fees, filling their boots.

        

Sooner or later it has to be brought to an end, it cannot go on forever without end.  For as in all things where excess becomes the norm, the law of diminishing returns will impose itself. Oh all the Brightboys who sense their magic formula is about to be rent asunder by common sense will rail at the prospect of having to carry out mundane chores to make a living. But if that’s what it takes, sobeit.

Watch this space, I’ll be back!

Tom.  

Toryboys for U-turns?

By tomtom

Don’t you believe it

Uturns, about-turns downturns? They’re just a way of degrading the aspirations of the Lib-Dems, to leave their imprint on the fabric of our Society. It was going to be the Lib-Dems version of the ‘Big Society’ and they’re absolutely tee’d off that Dave picked up the idea and ran with it before they realised he’d scuppered their plans again.

  Did you fall for all that guff in the ‘gardin’ at No.10? The false air of bonhomie, the laughing and joking like were all pals together – no way José. Crafty as a ‘cartload of monkeys’ these Toryboys as over the horizon zooms the latest, scupper Nick ploy, 100 Toryboys threaten revolt over the HoL débâcle. What’s the betting every one of them had personal text from Dave?

  Call it a U-turn if you like, but it was little more than a hefty boot into the long grass for Nick and his hapless band of Derring-Doers. They’re just not up to speed when it comes to ‘Politikin’. But the odds ‘agin’ the Lib-Dems are daunting since the Toryboys wheeled out their latest secret weapon – Jesse ‘Flashman’ Norman.

  Now the rebel faction can sing Dixie and they have a leader. So who knows where he can lead, especially if he gets his teeth into this latest Toryboy ploy, to renegotiate our terms for associate membership of the EU.

  EFTA here we come and with the Commonwealth to boot it looks like the future can be bright as we trade with the rest of the world on our own terms. While Farming, Fishing and Financing our way to a new prosperity. Begone you Eurocrats, Perfidious Albion rules O.K.

Watch this space I’ll be back!

Tom.

Theresa May: ‘We’ll stop migrants if Euro collapses.’

 Tell me another one, just like the other one. Tell me another one DO!

What does it take to get these plonkers singing from the same hymn sheet, as the rest of the UK populace? Can’t they see the EU is a dead duck and can’t they see either that it took several hundred years and a constitution that people could subscribe to,  in creating the United State of America?

 

  For anyone to construct a rival for America is a non-starter as far as the disparate States of the EU are concerned. Everybody and his dog in the European Union wants prosperity without sacrificing sovereignty. So it can never be made to work till all the disparate states of Europe are ready to be governed by Eurocrats in Brussels the Capital of a United States of Europe. Ever possible? Never in a million.

 

  That Monster Raving Loony Party in Brussels known as the European Commission have about as much chance of making that one stick as Eric Bristow’s ‘Ashtray on a Motorbike’ can collect fag ash. They just don’t geddit and it’s difficult to see how anyone can get through to their numskulls of solid bone.  

  What I find even more inexplicable is all this nonsense spouted by the Coalition, particularly the Lib-Dem faction who are so brainless it seems that they can’t even keep their own prospects in line with what the bulk of UK popular opinion thinks of them.

  How many ‘null point’ polls does it take to get through to the Lib-Dems that they are yesterday men from circa 1920. Can’t they see that to survive in modern Britain they have to adapt to the times and stop trying to get the public adopt their cock-eyed view of what we should be and where we should be going with these damnable windmills and their cock-eyed hackneyed view of the world we should live in.

  Modern politicians it seems have not got over the blow to their egos, as the goodies they thought were theirs by right were snatched away, like a rattle from a baby in a pushchair. They seem to have lost any connection with the views of the common people, the bulk of our disaffected, alienated, electorate, who can no longer be bothered to turn out and vote.

  Don’t they realise the level of feeling in the country at large against the constant stream of dictats from this bogus ECHR  and the crazy directives issued by the EU Commission that would trample roughshod over a thousand years of Perfidious Albion.

Enough, is enough, is enough!

Watch this space, I’ll be back.

Tom.

“PREPARE FOR GREEK EXIT” - Sez Dave

  

He just dunner geddit

If indeed Dave has failed to cotton on to the fact that a vast majority of the UK peeps want to see an end to this diabolical experiment in Europe and its effects on our Heritage. Then it must be time for the men in grey suits to make their move.

  We’ve had enough Dave, what we got was a Lib-Dem wimp disaster, when we needed a Margaret Thatcher Mark II. It might have been slightly excusable, had he not lost every conceivable argument in favour of leaving the EU from the vast majority of the UK populace's point of view. But there’s no sensible rhyme or reason why we should suffer the insufferable when it doesn’t have to be this way. “Prepare for a Greek exit from the Euro,’ he sez.

   Is this the best he has to offer us when the nation is crying out for change and the stricture of this straitjacket mentality of the Euro Commissioners? When all we need is to be set free, released to stand on our own feet, Fishing, Farming and Financing our way to freedom from these irreconcilable yokes that our exit from the EU would demolish at a stroke. The fantastic abilities of the British people are being held in check by a European elite with no idea which way to go next.

  There can be little doubt now that The EU in all its bogus, grotesque incarnations and manipulations, is a busted flush. The death throes are upon it and still the Europhiles can’t see the blindingly obvious fault lines, ensnaring the weaker members, as they loom ever closer to massive default.

  All the wriggling and squirming in the entire world that periodically comes to the fore as the evil bankers attempt to wriggle off the hook, is achieving nothing. Why should we bale them out? They have taken us all for a ride over the past two hundred odd years, by persuading governments of the world to legislate in favour of their loan sharking activities, when it really did not have to be this way.

  The ills of this whole financial imbroglio are now threatening the very existence of the very people who perpetrated it, as inevitably and inexorable the mountain of interest charges they have created, is burying them under an intolerable avalanche from which their only escape, is to plead for deliverance from the taxpayers.

  They want the all the Governments of Europe to squeeze the peeps and bale them out one more time. But only until the next time, when once again the same old chestnuts are racked out of the dying embers as time and again we’re faced with Armageddon as default and debt threatened to overwhelm everybody and his dog. For years they’ve managed to wriggle and squirm their way out of it, but it’s different this time.

  The money they created out of thin air, has finally morphed into the rope that will hang them and the siren voices ring loud and clear. It’s no use the politicians trying to scaremonger about hard times, for bad debt is now universal and the final reckoning is to hand. The mighty EU shambles, is crumbling around us and the high and mighty German economic powerbrokers refuse do what’s required in the way of social transfers to save the 'Impossible Dream'.

  The latest wheeze to get the holy grail of growth moving up instead of down is to re-capitalise the Banks. But hold on who was it got us into this mess in the first place? Recapitalising the banks will get us nowhere. All it needs is good bout of government issued interest free debt.

  All this blather about (QE) Quantitative Easing or (PoM) Printing of Money is a cul-de-sac, a sop to the Fractional Reserve Bankers. It’s the road to nowhere exactly where we’ve been heading since the crash of 2008. Why? Because Big Government lacked the guts to axe the frivolous spending of the Nanny State Dependency Cult of their predecessors. So when the Coalition took over, it carried on spending like there's no tomorrow.

  Why should we suffer this way when all we need to do is follow the Frank L. Baum’s Yellow Brick Road? It’s as easy as that and if what we see on offer now, is as good as it gets. Then it really must be time for the men in Grey Suits to move in and carry them off, Coalition and All.

Watch this space, I'll be back!

Tom.

The Tom Stack Election Analysis

Another day older 'n' deeper in Debt?  

Well it’s all over for another year folks, bar the histrionics and the ritual analyst's take, on the fallout. For as things stand, when we get back to normal, the journos, the bloggers and the pseudo-politicians no doubt, will be endeavouring to keep us on the edge. Spellbound by their tales of woe and diminishing any credible opposition, to their all-conquering prowess. While anyone daring to stick their head above the parapet and tell it like it is, is vilified as out of touch, by the political hierarchy.  But here goes:

Already the dust is settling on yet another fevered burst of dis-connection with the political elite, as only 25 percent give or take a few percent, bother to turn out and vote. So all the crowing in the world about stunning victory rings hollow, as yet again a mood swing of disaffection conveys control of City Councils into the hands of a raft of self-appointed Guardians of our best interests. People it appears, who in the widest possible sense of the word are driven by little more than self-interest and the prize of a nice little earner.

Despite all the expressed best intentions, in the electioneering scribblings that pop through our letter boxes.  The reality is they’re making promises they have no intention of keeping. So now we face a litany of despair, as they parrot-off the usual excuses. ‘We didn’t know things were this bad, till we got to see the books.’

Well I’ve been telling the truth they try to hide in all the years since I was persuaded to become a councillor and then decided I’d have no truck with this pseudo-politicians world of - ‘Pull the other one'. The main reason it seems to me, is because the pseudo-politicians realised long ago that people have no wish to see it how it is. The voters per se, much prefer someone making promises along the lines of how they’d like it to be, with everybody and his dog on Easy Street.

So there you have it folks  - (Plus ca change, c’est tout la meme chose). i.e. The more things change, the more they stay the same and they will do, for as long as the wicked Bankers hold the whole world to ransom, with their Fractional Reserve Banking Scam. When all we need to do is follow the Yellow Brick Road, as laid out by Frank L. Baum in his amazing age-old tale, the ‘Wizard of Oz’. I’m referring here to the real story, not the imaginary world of the Judy Garland film, loosely based on the book. You can download the Bill Still video from the internet, if you really need to know the true facts. If curiosity leads you to ask, what is it all really about?

No doubt of late, you have been inundated by expressions of interest by the banks and other financial institutions trying to persuade you to accommodate them with any precious savings you have left. They need a stake for their seat at the greatest Casino of all time, the Financial Instrument Market. Of course they have no intention of telling you what goes on there. Well not  till they get up from the tables skint to give the taxpayer a 'mugging', as the ‘Lender of Last Resort’.  

   

So that’s where it’s at folks, as yet another bigger and better tranche of austerity come your way. Though if you haven’t got it figured yet I can only say to you. It doesn’t have to be this way.  But it will stay this way till you realise you can make a difference by using your vote to express a preference for another way of doing things through a party offering Democracy First. More as a way of life rather than as a political expedient, to hang on by the fingertips to a nice little earner.

But with the UK mired in interest bearing debt, and with interest charges heading north, the future looks bleak for the UK's Finances. For as several of the now ruling elite, have often told me in the past. You have a mortgage and that's all we're doing motrgaging the UK's assets. If only they too realised. 

It does not have to be this way!

      

Watch this space, I'll be back,

Tom.

A bit of Tom Stack style realism

With apologies to Thomas Gray

The Curfew tolls the knell of parting day.

The lowing herd winds slowly o’er the lea.

The ploughman homeward plods his weary way,

And leaves the world to darkness and to me.

                                                                          Thomas Gray 1716-71

Elegy in the Real World by Tom Stack

As the Evil Empire sinks its fangs ever deeper into the fabric of British Sporting Life, has the time come to repatriate our destiny, as the nation that prides itself on fair play and level playing fields.

  For if the invasion by our Antipodean allies, becomes all consuming, as appears to be the case. Especially if the launch of their new Formula One Motor Racing channel, is anything to go by, projecting it as if they now own the TV rights to F1 and every other sporting activity, in perpetuity. (It could bear distinct similarities to the way the Treaty of Nanking 1842, ceded the island of Hong Kong to the British Crown in Perpetuity). Though it could be there’s a lesson here, like? ‘Nothing is Forever’?

   Soon maybe we’ll wake up and discover they’ve hi-jacked the Horse & Country Channel and wish to charge us for watching the Ploughing Competitions. (At least that’s all in a straight line). Then when it’s all done and dusted we get to watch a Paint Drying event, just to soften us up. But seriously if we don’t act to stem this rising tide, we’ll all be drowning in a sea of subscriptions steadily and remorselessly creeping up to more than £500 per annum, on top of the licence fee.

  So with all the resources at their command, is it not time to set the BBC free to compete on a level playing field by using the massive income they enjoy for the benefit of the hard pressed taxpayers who contribute the Beeb’s income of £3,500+mn circa annually, in its entirety. Usually for no other reason than the most morbid of social engineering experimentation? Scrap the licence fee and turn it into a voluntary subscription channel. Let's have a bit of real competition. 

  No more streaming of cut price discarded snippets cast at our feet from on high, by the Evil Empire, in the way the best of British Football has been destroyed, by an Arena Mentality more suited to the Roman Empire with the following of a baying mob and a wages which make a Banker's bonus look like small change.

Watch this space, I’ll be back! 

 Tom.

Maybe the Cat can look at the King (Part II)

But can Lib-Dems command the heights?

By trying to influence government policy, is Nick Clegg condemning his party to eternal meltdown or hoping that in some way the public at large will begin to embrace the Lib-Dem mantra of wishy-washy political expediency? Though more likely this Lib-Dem posturing is the obvious result of endless generations in isolated opposition.

 

  Polls apart, the damage inflicted by going against mainstream public opinion is causing incalculable damage to UK Plc. So the flaky responses to enduring problems will come back to haunt them, as they face even more generations of eternal opposition, at the next asking.

 

  You see the big problem here for the Lib-Dems is that in opposition you can say or do anything, since you are never going to answer for the result. So as the levers of power slip effortlessly from their illusory perception of the reality of Coalition, it becomes patently clear they are singing from the wrong hymn sheet.

  Maybe Dave believes that in casting aspersions at Nick’s disapprobation of Tory realism, he is driving the dagger ever deeper into the heart of Liberal thinking. It could well be that in planting seeds of despair at Lib-Dem stalling of promised reforms, he is creating the impression of what the benefits would be if went his own way.

 

  Can we really believe this tack after so many broken promises, though in some ways  as the Europhiles go for more pernicious tax raising measures calculated to neuter the position of  UK’s ‘City’ of London as the Clearing Bank for the World. The danger of closer ties with Brussels looks doomed, as the real power brokers take over and the ‘City’ takes over the world.

 

  But hang on a mo, think on this! Does such a takeover depend on survival of Fractional Reserve Banking? The means by which, what we assume to be our Democratic Freedoms are stifled by the real Fat Controller. For it doesn’t have to be this way. We can follow the Yellow Brick Road as laid out for us by Frank L. Baum in the real Wizard of Oz, not I assert the Judy Garland version.

 

  On the other hand maybe there is no such thing as Jam Tomorrow, as the Queen insisted. Jam yesterday or jam today, but never jam tomorrow for tomorrow never comes. It’s just any other day, it’s never today.

Watch this space, I’ll be back and lookout for (Part III)

Tom.  

£161mn sterling in Bank Bonus Payments

The Bankers price for Propping up UK Plc and Whitehall? Part I

It’s a Pinch really, if you look at things from the government’s point of view. All they need to do is wait for HM Customs and Revenue to collect it, hand it over. Then they sit back and distribute as they think, to raise the prospects of clinging on to the levers of power for another four or five years. Depending of course on when they think they can pitch a winner.

  But why this witch hunt, the Bankers are doing no more than the law permits, merely extracting their pound of flesh for operating their infamous Fractional Reserve Banking (FRB). The means by which they produce money out of thin air. It’s no more than a figure on a balance sheet, with an interest bearing debt liability, collateralised by a borrower’s assets. Effectively they’re converting an individual’s properties to interest bearing debt, they can sell on to the highest bidder, before the roundabout comes full circle.

  Presumably it was borrowing by government to promote their own particular political agenda that accumulated this mountain of debt we now have liability for. They did it in our name fer chrissakes! But in the end, it brought about their downfall, as the commitment became unsustainable from income and they had to resort to more borrowing to prop up their faltering political aims.

  It’s funny how things work out and it’s amazing how true the aphorism that: ‘Things work out the way they’re supposed to’, turns out to be a truism of immense perspicacity. I recall it from a film I watched many years ago and reflected on it from time to time, when things didn’t go quite the way I planned.

  But hey presto along comes an altogether unexpected event or happening that changes everything and things are not quite as black as you thought they were. But in truth this is not a mountain of debt just a mountain of interest that may or may not be collectible. So it gets written off, as in the case of Greece. But in effect this destroys credit and forever the politicians are bleating we need more lending. Why? Because only through this lending and (FRB) can the money be raised to sustain them in power  

Watch this space, I’ll be back! So lookout for Part II

Tom.

For whom the bells Toll

Time to ring the changes

Each day of late as the Euro imbroglio deepens leads me ever closer to the understanding that the all consuming power of the bankers and their Fractional Reserve Banking is so firmly embedded into the fabric of society as to prove almost impossible to remedy. Governments have surrendered the initiative, to the point where they are impotent, totally enthralled by the income it produces to their respective Treasuries.

The insatiable lust for interest and loan sharking by the banks has enabled them to plunder in the name of incentive, to a point where it blurs the difference between right and wrong, Something they attempt to justify as incentive, by claiming it’s merely a percentage of the profits they produce. Even though their record in creating these massive profits margins, is rarely unblemished and often demands an outrageous degree of human sufferance.

Banking is rotten to the core and governments lack the courage to take a grip and shake it till the pips squeak. The system we have is no longer fit for cause except to fill the boots of the major players with obscene amounts of loot.

It's time to follow the Yellow Brick Road before anarchy reigns supreme. Time for the authorities to get a grip and face down these latter day Robber Barons.  Though it is entirely possible that this is in train at this very moment, but little can happen till the deficit has been addressed and eliminated.

Whatever the outcome of this particular phase in our island’s history, it is certainly time to ring the changes. Time for the emergence of a new period where sanity is regained in the way our fortunes are regulated an amassed. For the good of the nation and not just a privileged and fortunate few.

Watch this space, I'll be back!

Tom.