Tag Archives: Paul Mason

From Qatar to the United Kingdom

The last few days have been all about the issues of elections and the gratifications some see with the Labour party. I am impressed on just how gullible people can be. It’s like the need for common sense has gone straight out of the window. The last time the Labour party pushed the UK into deep debt, now because of Austerity the people think that the Labour party will change this. So what do you think will happen when another trillion in debt is added? Its like politicians have gone crazy. Spending without accountability. When will it end? And if you think that the UK is so much better than Greece, than it is important for you to wake up fast, because the debt of the UK is well over 700% of Greece. For now, the UK is above the curve because of manufacturing, tourism, service related profits, but when that curve falls down it goes south in a hurry. Where will you be then? Most will think that it is for someone else to fix, but those short sighted people will be around when the cost of living is up by 20% whilst your income has a mere 3% correction. that is the reality of what is to come. On the other side, Theresa May has mace mistakes, she bungled the balls a few times and that is a flaw that did cost her a majority. Yet, the end is not yet in sight. If the Conservatives can set a correct dialogue with the Lib Dems, then Tim Farron will have 4 years to show he is a leader, to show that the Lib Dems matter. In 4 years whilst we get a clueless Jeremy Corbyn stating how he promises thousands of jobs whilst the treasury has no way to pay for it. Until the tax system will get a true overhaul and take care of the 0.1% tax bracket for the large corporations, there is no chance that anything will be fixed. It is a mere reality all those in the UK face. And Scotland, well they went foolish on a second referendum and 35% of Scotland decided to find another party. Yet there is also the other visibility, the game that should have never been played against the foolish move. Yes, the majority is gone, but 13 seats against the non stop media heist of the truth and playing whatever story would erupt in the most readers and emotions. That game could have given a much larger cost to the Tories by the end of the year. That is merely my view, I have no way of proving my view, which in equal measure means that I could be wrong.

So what is left? Time will tell, but the next events of the Brexit is about to be due. As we see places like the NY Times give us “It enhanced the possibility that a chastened government led by Mrs. May would now strike a less confrontational approach with Europe while seeking a way to keep Britain within the bloc’s large single marketplace“, we have to wonder who is facilitating who? With the additional quote “The European authorities have consistently emphasized that Britain’s continued inclusion in the single market requires that it abide by the bloc’s rules — not least, a provision that people be allowed to move freely within its confines“, this is part of the problem, because it is showing to be unrealistic and the other players, none of them want certain people. They are so happy that all those travellers believe that the UK is the golden dream. When those people end up somewhere else, we are confronted with over half a dozen members who see their own infrastructure collapse. There is Austria with new anti-migrant measures, with ‘protective zones‘ and a whole lot of other issues. The less said about Greece the better, what is a given is that they are under such stress that their reactions make sense, yet most of those illegals don’t even want to be in Greece, they are just passing through. The Albanians being one of the larger illegal immigrant groups is giving the impression that Albania is empty. Bulgaria is setting up barbed wired fences. Those people all howling for free movement are all trying to get rid of the problem. The open borders have failed, only for large corporations needing zero hour workers, they prosper. And those in ‘charge’ in the European Union play their game, their defiance in support of the gravy train. And then we see a new quote, one that gives rise to certain media playing the game they are. “In short, the election has complicated the assumption that Britain is headed irretrievably toward the exits, producing a moment in which seemingly everything may be up for reconsideration“, this was the game all along. those behind the screens, those deciding on the flow of trillions, they need their 34% profit annually, without the UK where it is now, that is no longer an option and the voice of Italy is still not a given at present. So when you read: “Those who have favoured Britain remaining within Europe, or at least softening the terms of its exit, now have “an expectation, or at least a hope, that cooler heads will prevail,” said Jeremy Cook, chief economist at World First, a company based in London that manages foreign exchange transactions.” Is it cooler heads, or greedy heads? There is cause for consideration that a hard Brexit was never a good idea, but as the EU cannot muzzle or chastise Mario Draghi, the EU is becoming too dangerous a place to remain in. It gives additional cause for concern as the deep web has a speaker who has been advocating the need for targeted killing of certain finance officials. I am not sure that this is a good idea, but prosecuting politicians who cannot maintain a neutral budget is not a bad first step. the problem is that Strasbourg is more about protecting terrorists and their rights than it is to protect victims of exploitation, because extremists hiding behind laws is often easier than doing the right thing for the victims they create.

The dark web has a good thing, it lets me see some elements completely unfiltered, yet you get it all, all the hypes, the rages, the ragers and the emotions, you need to learn to filter the values. Which is at times a lot harder than you think. So when you dig beyond grams and the easy access to drugs and weapons, you could find a few places that offer an option to those willing to be tools for a little while. the payoff is extremely large, yet that also beckons what the facilitators get. You see, getting a 7 figure number buys silence, yet in that view, what will the payer get, what is worth facilitating a 7 figure reward for? Some of these offers are getting louder and more frequent. This implies (highly speculative) that there is a hole in the net and certain entrepreneurial players are going whilst the going is good. Several addresses offered even more since the elections, implying that as there is a hung UK government the going is better. I am speculating that there is a finance hole that can be exploited for now, it is speculation, but it is all I have for now. These people are so paranoid that it makes Alexander Bortnikov a mere naive and trusting teenager, an interesting version of the director of the FSB, don’t you think?

We need large changes and throwing money at it will not yield the people anything, merely deeper debt. It is for that reason why I refuse to trust Jeremy Corbyn. Yet these issues are on one side, the other side is equally an issue and equally a problem, also for the UK. Qatar is now in a different place. It started yesterday with ”There is no trust’: Gulf states give up hope on Qatar’  (at https://www.theguardian.com/world/2017/jun/09/qatar-united-arab-emirates-diplomacy). This is not that unexpected, but that we see actions by UAE, Saudi Arabia, Bahrain and Egypt gives rise to more extreme measures. Qatar is now surrounded by people who have had enough of them. As we realise that the quote “Omar Saif Ghobas, the United Arab Emirates’ ambassador to Russia, one of the most eloquent exponents of UAE thinking, insisted the new anti-Qatar alliance was not planning a military invasion or externally enforced regime change. Instead, he said Qatar had a history of internal regime change, implying the UAE would welcome the removal of the emir” with in addition “It is Turkey that is militarising the position“, we now see a first move where Turkey has become a much stronger problem for Europe. And some of the EU players were so adamant in getting Turkey added, even as there were several cases clearly shown that Turkey should not have been allowed into the EU or NATO. So where are those advocating to add Turkey now? They should be placed into the limelight and be held publicly to account. The two key supporters were Poland and the UK. So here we see the issue with Boris Johnson. How could he have been so stupid to get on that unreliable horse? As we see Turkey go off base more and more, the higher the need for Boris Johnson to seek another job and get a haircut. Is that a fair assessment?

Qatar has been a problem for a while now and when you see 4 nations who at present prefer to do business with Israel instead of Qatar, we can honestly state that there is an escalating issue in the region and Turkey is making it worse. Now, wee look at the news we got 6 hours after the initial news (at https://www.theguardian.com/world/2017/jun/09/qatar-crisis-grows-as-arab-nations-draw-up-terror-sanctions-list), where we now see: ‘Qatar crisis grows as Arab nations draw up terror sanctions list‘, it starts with “Saudi Arabia and its Gulf allies have sanctioned a dozen organisations and 59 people it accuses of links to Islamist militancy – a number of them Qataris or with links to Qatar – escalating the diplomatic crisis in the region“, which is a mere way to appease the neutrality of our palette. You see, the news is not just on “increased military cooperation with Qatar, including the potential deployment of Turkish troops“, I think that the ‘support’ has been going on a little longer than we think. It is my speculative believe that someone in Qatar has been facilitating Kurd intelligence to Turkey in some way. For a price Turkey got information and this has been a facilitating event. I cannot prove in any way the idea that the counts that Turkey offers is highly overstated and in fact, their attacks are not as successful. It is the way that we see some of these events reported, that is why I questions some of the numbers. Here I could easily be wrong, so don’t take my word on that.
The reason to mention it is because Turkey is following another pattern, Qatar is so out of the way, it makes no sense to get on the wrong side of Saudi Arabia, the UAE and Egypt, at present I cannot state whether the Turkish military are going insane or that there is another play in action. What is a given is that this will escalate further and it will impact Europe as well! To what degree remains an unknown for now.

So, as we go into a theatre mode, let’s go with ‘Pigs in Space’, we have to narrate towards the next episode with: ‘Tune in next week when we see Boris Johnson getting a haircut, and as the man behind health states, would you like to be in charge, does he have the £350m a week entrance fee? And when the head nurse needs some elevation, will The Lord Newby, also known as Baron Newby et a Saudi Nurse? That and more is answered next week in Piiiiiiiiigs in Spaaaace’ Yes, that was mildly entertaining, but it gives reference to a part many might have missed in the Guardian last week. The article ‘The Qatar spat exposes Britain’s game of thrones in the Gulf’ (at https://www.theguardian.com/commentisfree/2017/jun/05/qatar-spat-exposes-britains-game-of-thrones-gulf-paul-mason). It has more information than you bargained for. We can all hide behind “Britain cannot solve the diplomatic crisis in the Gulf. But it can stop making it worse”. You see, it all sounds good and gravy, but over the decades’ nations made alliances, they made choices and some those are long term. In addition, is the UK better off staying out of it, or try to get a result that fits the needs of the United Kingdom? That is the question is it not? We either align or we let others dictate future global events. Saudi Arabia is a global player, Qatar is not. Some choices are hard and in this Labour is very valid in making a different choice, that cannot be held against them, what can be held against them is them thinking that there will not be long term consequences. That is just utter stupidity on a podium. That is the play, that is the game, so as we align with some and align wrongly with some, we cannot just move towards the others stating, lets play a game. We either commit or state openly that Turkey is a clear and present danger to Europe and the European way of life and let the chips fall where they may. I wonder how quickly some politicians (read Jeremy Corby) spin that in any direction away from them at the drop of a hat. So is one view hypocrite, the other view, or are we considering that electing hypocrites into office comes at a price we all have to pay for?

Just sit down and consider that one. That is after you contemplate the meaning of Mario Draghi’s ‘policy normalisation’ and what it is about to cost you. So have a lovely weekend and enjoy a nice slice of cake on Monday!

Long live the Queen!

 

 

Advertisements

Leave a comment

Filed under Finance, IT, Media, Military, Politics

the Other Currency

Sometimes you have to halt a moment. Take a step back and breathe. It is an essential act that I myself have forgotten to take heed on. That part became partially clear in the article the Guardian had yesterday in the TV News section. The title “Paul Mason warns political journalists: ‘You have no real idea what is going on’” is only half of it (at http://www.theguardian.com/media/2016/apr/08/paul-mason-political-international-journalism-festival-channel-4-news). You see this is linked to several pieces I wrote regarding the (what I believe) to be less than intelligent acts by Alexis Tsipras. So apart from me thinking I was right (read: correct), that piece is an equal mirror for me to look at myself at times, which I am very willing to do.

Linked to these events, not to the articles is a secondary issue I reported on. The date was January 7th 2015. The article is called ‘As we judge morality‘ (at https://lawlordtobe.com/2015/01/07/as-we-judge-morality/). In this article I looked at the accusations made by something that walks around with a dripping snatch. Yes! I am that rude! You see, you do not get to make the false allegation ‘a former masseuse employed by Epstein, that she was forced to have sex with the Duke of York over 10 years ago, as well as the Harvard law professor Alan Dershowitz‘, you do not get to accuse these people falsely and not get branded for life! This part links into the previous part and the follow up from the not so light allegation I made in the article. I stated: “It is somewhat sickening to see that the press might be the fuel for falsely alleged trials and claims“, even though (much too late) as we see today in the Boston Globe “Two plaintiffs’ lawyers admitted Friday that they made “a mistake” when they accused famed attorney Alan Dershowitz of having sex with their client when she was a minor” a year later. I am uncertain why Attorney and law professor Alan Dershowitz would show such grace against the mindless stupidity of his peers by dropping (read: settle) against Lawyers Paul G. Cassell and Bradley J. Edwards. It is my personal believe that the District Attorney has a mandatory function to keep the quality of law above reproach and high in standards (we do know the standards board is for that). I believe that Attorney General Pam Bondi (our famous Sydney Bondi beach was not named after her), still has a clear duty to look into the matter of the claims made against Alan Dershowitz. Cassell and Edwards wasted the courts time, they gave real damage to the integrity of Alan Dershowitz, as such in light of all I reported then, there is still a case of consideration against the two lawyers. As I personally see it, they tried to strongarm a situation, which had basically nowhere to go but backfire. As such there needs to be a price against the false claimant and against those proceeding on those false claims without due diligence.

I do not think that it changes anything against billionaire Jeffrey Epstein, the slimy little weasel (as I would see him) who got off way too light. Yet, the false statements making him violent now also wrongly diminishes his guilt in all this and it smeared the Duke of York in addition, who is not mentioned in the Boston Globe article. Those false claims had a likely impact on the charity work he has done for decades, so this ‘tactical’ legal act should come with a massive price tag, not only because it took serious resources from the FBI to clearly show that there was contradictory evidence as brought by former director Louis Freeh of the Federal Bureau of Investigation.

This now reflects to the article that got this all started, namely the press. You see, there is a quote in that article “And I think we need to understand that we [journalists] generally know very little about what is really happening”, which might be a grand gesture by Paul Mason, but I think it is the revelation that he was aware of. We do not know everything and most often we don’t even know a lot, which is something I have always known. The second quote he makes is “If you are one of those poor people who have to report Brussels, you’ll know how difficult it is, even for the guys with the press passes, to get the story. They just get handed effectively a series of semi-leaks and spun information”, which is now at the axial of that what matters. The press has with some regularity not been the informer, they were merely the ignorant patsies ‘revealing’ things spin doctors wanted to get revealed. Now, mind you, the revealed info was often true, it was however a truth misstated in proportion and in wrongful secondary considerations. Which is what I have stated on numerous occasions. Especially when we consider Edward Snowden as well as the Panama Papers. They were, as I see them both hostile takeovers, one in the intelligence industry and one in the financial industry. We will forever debate and speculate on the acts of Edward Snowden. I see him as a traitor, plain and simple. That evidence is clearly seen as his first port of call was Hong Kong. That choice limited him and changed the game for him. I reckon as I speculated before that China saw him for what he was: ‘A joke with delusions of grandeur’. He was not evil, just embossed by the option for greed and ‘sainthood’, just the small detail that treason and sainthood tend to be mutually exclusive when it is done to merely enrich one’s self. This is the one element that gives Julian Assange the benefit of the doubt (and because he technically never committed treason).

When we get back to Edward, we see that he had access to some extent and I reckon he got to see a few documents. Documents involving James Fisher, Mike McConnell and Gary Labovich. I think that they had started a path at that point, merely in the planning stage and if that path worked out a small group at Booz Allan would become rich beyond believe and Edward was missing out. I think he had the opportunity to move forward and he took a chance, the wrong one I might add. You see, there was always an issue with all the data and I still believe that some of the players have been miscommunicating the value of all that data and those ‘documents’ I believe that the initial news around that time (at http://www.huffingtonpost.com.au/entry/former-government-officials-cybersecurity-boom_n_958790.html) in September 2011 and in the Washington Technology (at https://washingtontechnology.com/Articles/2011/06/06/Booz-Allen-Top-100-government-contractors.aspx?Page=2) in June 2011. Perhaps the path was not clear at that point, but the idea had taken shape. Last year we saw ‘Booz Allen builds on Vision 2020 strategy with SPARC acquisition‘ (at https://washingtontechnology.com/articles/2015/11/02/booz-allen-sparc-deal.aspx) and last month we had the conclusion ‘Booz Allen Hamilton hired to support 5 billion CSTAT contract‘ (at http://www.consultancy.uk/news/3402/booz-allen-hamilton-hired-to-support-5-billion-cstat-contract), a path that took likely a little longer because of the damage Edward Snowden caused. He is no saint and definitely no Ideologist. A failed intervention, that if successful would have given great wealth to Edward Snowden, he gambled and lost a little. Yet in all this the Cyber Security and Information Systems technical area task contract (CSTAT) is nowhere near done. As I see it the cloud might be wonky and leaking data like ‘a sift’, so this is something that needs to be investigated.

This again reflects back to the sometimes ‘ignorant’ press. What they are expecting to receive, and what they really receive are two dimensions, in an age of circulation they are not aligned. Yet getting back to Greece, is also important, you see Paul gives us the part that matters in more than one way: “If Syriza falls, there won’t be a conservative government. It will be replaced by a technocratic government. That’s the plan of the Greek establishment. This technocratic government will mess up. We are really lucky that the fascists want to be black-shirted type hoodlums, because in other countries fascists have developed a brain and reinvented themselves as democratic politicians. We are lucky for the moment that the fascists have no chance of ruling Greece, but that may not be the case forever“, he is only partially right as I personally see it. A technocratic government will do what he expects, but it is more the result of what a technocratic government actually wants. They want profit and non-accountability. Tsipras is right that it is about the people, the Greeks, those who make up the land, but there cannot be non-accountability, which is why I opposed the acts of Tsipras and his rock star associate Yanis Varoufakis. They were wrong, they were never evil. The technocratic wave that comes will be evil, because they will keep alive only those who add to the profit wave, the rest is painted away in spreadsheets. I never signed up for a world like that. In equal measure those who ruined Greece are still not held to account, which I personally see as another failing by Tsipras. They must stand trial and bleed for the hardship they gave the Greek people. There is no other way, the technocrats will take a fee from them and ignore their acts. As the EU falls, it does not fall towards the xenophobes as Varoufakis states, they fall towards the nationalists. I agree that they are not mutually exclusive groups, yet I personally believe that these nationalists are not in fear of non-nationalists, they just prefer nationalists to push their nation forward, something that has not happened in over a decade and non-accountability tends to be weird that way.

So as I look at these elements we cannot ignore Paul Mason who wrote the Guardian article and other too is also linked to #ThisIsACoup (at https://www.youtube.com/watch?v=MZsHT2FZkxk). There are elements that I cannot completely agree with, but they are valid views, they look at parts I did not realise/ignored. Yet, they are writing about sides I have been trying to illuminate for over 3 years. So I do not attack ‘How the EU destroyed the Tsipras government‘, I do have a few reservations. That is a good thing, because I never claimed to have all the answers or all the truths. I have a view, based on information, often from valid sources, which is also an issue as we saw on quotes earlier here that the press seems to have been a ‘willing’ propulsion system for spin doctors. This is the issue on many levels, so accepting some truths that might not be in my perception of truth is equally important. So please watch that video on #ThisIsACoup. You will learn a few things I did not know (so I learned a lot too) and parts I never realised. Not because I wanted to be ignorant, but because others would not truly inform its population. Paul Mason also illuminates the issues that 2017 will be bringing. He stated “There is no template for those who had 4% last time are winning the election with 35% this election” which is what the Netherlands are facing with the PVV and what France is still likely to face with Front National. A left template and a right template. Neither is correct and both are essential. If this is truly about national governing it must be about the nation and its population, not in fear, but in enlightenment. In that the Economic industry is feeling the pinch in real ways. Because the changes we see now are becoming the massive fear that Dow Jones, Mossack Fonseca, Rothchild, Natixis and several other financial managers are facing, including the IMF (the Christine Lagarde edition, not the Tom Cruise version).

This need is escalating, especially in light of the revelations last month that due to the actions of DuPont Dordrecht its population has been exposed (for many years) to a large dose of perfluorooctanoic acid (aka C8), even as the Dutch NOS reports “Parliament has decided to take random tests within the population of Dordrecht to look at the consequences of C8, the people are not willing to wait, they want to test their blood as soon as possible. Reimke Hitimana-Willemze of the GGD (Dutch version of NHS) stated that there is no reason for it as there is no treatment this substance will only leave the body over time. She stated ‘Keep your money in your wallet’ (paraphrased from http://nos.nl/artikel/2097987-zorgen-in-dordrecht-om-dupont-fabriek.html)”

This illuminates the massive problem (as I see it). A class-action lawsuit and community settlement had revealed in earlier that Chemours would bear the cost. The fact that Chemours Netherlands B.V. might be seen as a coincidence is one side, the fact that C8 (as shown at http://ehp.niehs.nih.gov/121-a340/) gives us also links to kidney cancer, testicular cancer, ulcerative colitis, thyroid disease, hypercholesterolemia (high cholesterol), and pregnancy-induced hypertension. The report has limitations, the reporter notes that there are issues, but the results are too overwhelming. So as we read that this is from 2013, how irresponsible is the response from Reimke Hitimana-Willemze? This is exactly why the shift is growing larger and larger, notably to either the left or the right, but not towards the balance of the middle. You see, the government players have been too deep in the pockets of big business and as such we see misinformation. Is it not weird that yesterday’s article from NOS states: “It is not easy to show whether high concentrations of C8 lead to diseases, according to Warry van Gelder, director of the Albert Schweitzer-hospital (paraphrased)”, I reckon that a mere search on Google revealed that C8 is real nasty stuff and the settlement that DuPont made in 2013 is additional evidence to start immediate blood tests. Especially if there is a chance that a misinformed Dutch parliament makes a quick settlement offer with DuPont (or likely Chemours Netherlands B.V.) at a mere 2% speculated value of the damages, leaving the Dutch NHS to clean the mess up for this fat chemical cat (or is that Chemical Fat Cat?).

This shows as I see it the dangers of spin doctors, especially as the Dutch NOS makes no mention of the 3,500 lawsuits from Ohio and West-Virginia water (at http://www.bloomberg.com/news/articles/2015-10-07/dupont-jury-reaches-verdict-in-ohio-toxic-water-lawsuit) a mere 6 months ago. How did the NOS miss this?

You see, this part only grows the PVV in stronger measures, making the issues Paul Mason mentioned more and more important, in addition, as large corporations are not held to account the consequences of more and more extreme governing is only accelerated and they will be more extreme in dealing with these issues, which tends to be a bad thing as well.

For me there is a shift, the parts reported up to now and the realisation that the movie is bringing. There is an issue with the press, namely a fight between time and value. The issues shown is that speed is not value, the lack of data depth and data realisation deprives value, the speed of it does not equal it. The press is lacking data comprehension centres, something that can oppose spin doctors, which is not realistic because editors are about speed above all, they dumped the level of quality as they are up against the social media message; hacks that rise as the planetary population is lacking more and more intelligence. It is an unequal race and the hacks seem to be winning which will be the biggest loss of all times when that war is done with.

In that we still have the valid question on how Greece can get back on its feet. Making it a tax haven is not really an option but something needs to be infused on Greece. This battle is not one that will be settled any day soon as the economic coup d’état is still developing. As Mossack Fonseca offices are now getting raided the competitors of Mossack Fonseca are still laughing. Consider that for all intent and purposes there is no evidence that Mossack Fonseca has broken any laws. A police force that refuses to clearly intervene in the known guilty El Salvador drug world is eagerly going into a clearly not guilty and non-transgression set Law Firm. How is that anything but a political step and a posturing to scare its customers towards US non-taxable havens? The article from ABC relies on “all under the radar of local authorities“, yet there is no impression at all at present that the law has been broken. Consider that these are the same members of the comedy capers group that never got to El Burro or other members of the Texis Cartel and they are now going after a firm with no established guilt of any kind?

The question that Paul Mason is directing within me is: “Has the press truly become the joke to be played on those not aware of the rules of the land?“, for one part Paul’s acts at present could indicate that I am wrong, but for every Andrew Jennings and Paul Mason, there are at least a thousand ‘anonymous reporters’ hopping for a break and are eagerly taking quotes from the power players in the land. You only need to see the developments regarding Rothchild in the Financial Times regarding Petro Poroshenko as well as the Quay Quarter development (linked to the Rothchild branch), set at a mere 2 billion to see that I am not (entirely) wrong.

 

Leave a comment

Filed under Finance, IT, Law, Media, Politics

17 or 70 trillion?

Even though we see so many ‘stories’ on how well the US is doing, we must ask ourselves on what value these numbers are trying to convince us of.

The thoughts I am about to phrase started a little after the following had been released (at http://blogs.marketwatch.com/capitolreport/2014/06/06/standard-poors-is-concerned-about-the-u-s-debt-burden/). “Standard & Poor’s Ratings Services put out research Friday confirming the AA+ rating of the U.S.“, so the US has dropped a notch on the credibility scale. This in itself should not be a reason for direct concern. The one part that does worry is that S&P was the only one doing this. The other part we should notice is the quote “The federal debt was $16.1 trillion at the end of fiscal year 2012, according to the Government Accountability office.” why are we not seeing a 2013 number, which according to some is over 17 trillion? How interesting is it to see the numbers game whilst the numbers quoted are not up to date?

The next part is the article from Bloomberg on April 29th 2014. Here we see the following “The drop in net marketable debt will be $78 billion in the April-June period, $38 billion more than the pay down projected three months ago, with an end-of-June cash balance of $130 billion, the Treasury said today in Washington. The improvement will be short lived — net borrowing of $169 billion is projected next quarter, with $130 billion in cash Sept. 30th“. Can anyone see the issue I have with this? The debt of well over 17,000 billion is getting met with a quarterly pay down of less than 0.4588%. How is this progress and even though we see that the US still has a high credit score, is the likelihood of a continued credit score even realistic?

That part can be seen in the Market watch quote “We believe that renewed debate over the debt ceiling could resume after the midterm elections in November 2014 under certain scenarios. While we expect the discussions about the debt ceiling to be ultimately resolved as they have been, we still see risks that these debates entail.” So, not only is there no solution to the current debt levels, the chance of any serious solutions occurring within this current administration is close to zero, which means that the next administration will inherit a debt closer to 20 trillion. I do find the headline about ‘US debt level concerns‘ hilarious. Many with me had raised these dangers for well over 2 years and now as the game is up, some are ‘raising’ concerns, whilst those in charge and those on the watchdogs of economy had long known that any level of lowering the debt had been a mere myth for over 2 years.

There are of course other views. One is from Chad Stone who wrote in US News (at http://www.usnews.com/opinion/economic-intelligence/2014/05/16/too-much-deficit-and-debt-reduction-too-soon-will-wreck-the-recovery) “now about $17.5 trillion, found on the ‘debt clocks’ that are so popular with debt hysterics. Gross debt (and its close cousin, ‘debt subject to limit’) is debt held by the public plus debt internal to the government“. This is fair enough, yet there is no information, not even any indication when this debt will start to lower. There is another side to consider. When we look at the IRS data book (at http://www.irs.gov/pub/irs-soi/13databk.pdf), consider that the IRS collected a net value of taxation of 2.4 trillion dollars. A slightly more accurate number is 2,490 billion.

When we consider all the numbers thrown at us, like the ‘% of the GDP’ and so on, even if we accept that the 17 trillion dollars debt is held on multiple level, compared to what the IRS collects, we see a number that reflects the tax collected, compared to the total debt. The US gets through taxation a mere 14% of where the debt is at. How is any of that realistic? So, the total collected taxation, before any other cost is taken into account (like paying government staff and utilities), it only amounts to 14%, after all that is done 0.1% is left if the US government gets a fitting budget (something that has not been achieved since president Clinton was in office).

My issue is not just with the US debt levels, it is also about the ‘blasé’ approach economists are throwing at the people stating that things are not that bad and that it will all work out. That part is a figment of THEIR imagination, because for things to resolve, actions must be taken and none are getting taken at present (or in the near future for that matter). My biggest issue with the Article of Chad Stone is seen at the end. His quote “Lowering the debt ratio comes at a cost, not only risking the recovery if it’s done too fast but also in burdening businesses and households with larger spending cuts, higher taxes or both to stabilize the debt ratio“. There is truth in that statement, yet the issue that the money should have NEVER been spent is an issue that is ignored. The culprits of this dangerous endeavour are not named, not held accountable and many of them walked away with millions in bonuses.

We are however nowhere near the end of this debacle. The articles give another view on the matter. An article was published in 2013 stating an entirely different matter of debt. The REAL total debt is set at 70 trillion (at http://www.foxnews.com/politics/2013/08/15/california-economist-says-real-us-debt-70-trillion-not-16-trillion-government/). The quote that matters is “Hamilton believes the government is miscalculating what it owes by leaving out certain unfunded liabilities that include government loan guarantees, deposit insurance, and actions taken by the Federal Reserve as well as the cost of other government trust funds. Factoring in those figures brings the total amount the government owes to a staggering $70 trillion

Now we are off to an entirely different race, this only gets worse if we take the Bloomberg article into account from March 2014, which headlines as ‘Debt Exceeds $100 Trillion as Governments Binge‘ (at http://www.bloomberg.com/news/2014-03-10/debt-exceeds-100-trillion-as-governments-binge.html). Make sure you realise that this last article is about global debt and not about US debt.

This was already on my scope for another reason, but I will return to that shortly. I need to return to the Fox News article where it stated the view of Professor Hamilton, an economics professor from San Diego. The reason for this is because I try to stay fair and balanced (statement plagiarised from Fox News) and as such, as I found additional views from the professor, it is only fair that I mention that too. This all is linked to a paper he published in 2013 (at http://econweb.ucsd.edu/~jhamilton/Cato_paper.pdf), it is the starting quote “This paper examines the growth of federal liabilities that are not included in the officially reported numbers” which should grab your attention. Yes, we are talking about ‘off’ the book liabilities, which should make us all wonder whether ANY government should be allowed to be part of liabilities that are not on the books to begin with. If our job is to stem the tide of irresponsible spending, then keeping things ‘off the books‘ as the ‘kids’ seem to state, should not be allowed under any condition. If we look at the quote that was found in the Econ browser by professor Hamilton, we see “Similar calculations from the trustees reports for Medicare report Medicare’s net unfunded liabilities for current program participants to be $27.6 trillion. For more details see Table 4 and the accompanying discussion in my paper.” The floor should open to an entirely different debate and soon. I think it is high time that these events are properly mapped out and as such ALL governments need to adhere to a different level of ‘accounting’. Their books can no longer remain silent in regards to unfunded liabilities. Is it any wonder books are not in order in a massive amount of nations?

This now grabs back to other observations I made and more important the small revelation my data implied. On March 22nd 2013 I wrote the blog article ‘60% confiscated and counting in Cyprus!‘, here I quoted “If this is what frightens the US, then consider the consequences of a system like LIBOR being manipulated through the total value of trade. If that would have been off by 11.2%. Out of $1000T (UK and US combined) then that difference would be $112T“, I implied to some extent that not only were the percentages messed with, I had some reason to believe that someone had messed with the total trade value that LIBOR represents. Perhaps my mistake (to some extent) was thinking that it was ‘just’ manipulation. In my defence, I came up with these findings before Professor Hamilton had finished his paper, so as a non-economist I was slightly in the dark to begin with. Consider that some politicians could be overspending, whilst using the options of unfunded liabilities within LIBOR to excuse themselves for accountability? What will other governments say, when such events are brought to light (if that would be happening). More important, if my number was closer to the truth then many considered, the global economy is playing high stakes poker with debts twice the size then most realise and our cost of living is based partially upon the irresponsible spending of both Washington and Wall-Street. How are the people ever to get a fair shake at a happy life, when a group of no more than 3000 people have been spending the dreams and futures of well over 1 billion people? Most do not realise that this goes way past the borders of the US, if there is indeed an established group editing the total value of trade considering the manipulation of the LIBOR percentage, the established setting of unfunded liabilities, as well as the breaking up on loans as they might occur. For this example, I would like to point you towards www.lsta.org/WorkArea/DownloadAsset.aspx?id=2480, here we see a paper from Credit Suisse made by Julia Kingston in August 2006. The next part is just pure supposition on my side. Look at slide 35, here we see a term loan set in three parts. What happened when something falls over in 2 or 4 months? How many parts when Wall Street made its 8 trillion bungle was not written off? Is my consideration that the TOTAL LIBOR trade value has a massive amount of ‘entries’ that had remained hoping it would turn for the better? We have seen a multitude of financial advisors playing just such a card on many levels in the 2008-2011 periods. My question now becomes, was my implied 11.2% just the tip of the iceberg?

I am not claiming, nor do I pretend to have the actual answer here, My issue, as it was in the past is that ‘proclaimed’ Journalists sitting in the top newspapers have not taken a hard look at some elements. It is nice for them that Reuters does much of their work for them and many aspire, but will never come close to people like Paul Mason, Robert Peston or Deborah Hargreaves. Yet, how deep did they dig into LIBOR? Also linked (especially with the Guardian) was the claims that Jullian Assange made in regards to banking, they were never followed up (or so it seems), not even by the Guardian as far as I could tell. Consider the article the Guardian had on February 10th 2011 (at http://www.theguardian.com/media/2011/feb/10/julian-assange-wikileaks-book-claims). The quote “Asked about the ostensibly sensational bank leaks Assange keeps suggesting he is ready to release, Domscheit-Berg said the only banking documents he knew WikiLeaks had were ‘totally unspectacular’ is at the heart of this”. When it was ‘just’ about the US military there was some upheaval (especially by the US), yet when banking issues were raise (slightly mentioned in the Forbes interview in November 2010 at http://www.forbes.com/sites/andygreenberg/2010/11/29/wikileaks-julian-assange-wants-to-spill-your-corporate-secrets/). The interview gives us the following “Will we? Yes. We have one related to a bank coming up, that’s a mega leak. It’s not as big a scale as the Iraq material, but it’s either tens or hundreds of thousands of documents depending on how you define it. Is it a U.S. bank? Yes, it’s a U.S. bank. One that still exists? Yes, a big U.S. bank.

After this the hunt for Jullian Assange really takes on additional energy. I have no idea what he found, or if it is even related, the issue is that there is a recorded atmosphere of unaccountability within the banks (on a global scale) which must stop, if not, not only will governments be allowed to continue in irresponsible ways, but the additional ‘myth‘ that banks and governments apply checks and balances need to be thrown out of the nearest window. A last quote from the Forbes interview is every bit as important “We’re still investigating. All I can say is: it’s clear there were unethical practices, but it’s too early to suggest there’s criminality. We have to be careful about applying criminal labels to people until we’re very sure.

This is the part I had written about for some time, it was not just that the issue with Goldman Sachs imploded the financial industry; it was the issue that they, in black letter law, basically had not broken any laws. The people lost well over 8 trillion and no crime was committed even though their money was basically gambled away. It is that part, especially in the LIBOR sight, as well as the issue raised by Professor Hamilton in regards to unfunded liabilities. No laws are broken, but we are all kept in the dark in regards to the debts inflicted upon us, which in itself is a massive wrong.

Leave a comment

Filed under Finance, Law, Media, Politics