Tag Archives: Telegraaf

May 9, 2022 · 22:46

Slippery slope

There are feelings of satisfaction to be heard, and you can hear them everywhere. The setting that ‘UK government sets out plans to rein in Big Tech’ but they are loud noises, having only negative impacts. The BBC reports (at https://www.bbc.com/news/technology-61342576) “The new Digital Markets Unit (DMU) will be given powers to clamp down on “predatory practices” of some firms. The regulator will also have the power to fine companies up to 10% of their global turnover if they fail to comply.” My problem is not the merely the statement, it is the clear definition of what constitutes ‘predatory practices’, you see it is nice to see “Google and Facebook”, but where is Microsoft in all this? Then we get the debatable setting of “Digital minister Chris Philp said the government wanted to “level the playing field” in the technology industry, in which a few American companies have been accused of abusing their market dominance.” I wonder how delusional Chris Philp really is. Levelling the playing field? How about the others learn a trade? How about the magpies of the tech industry grow a pair and actually set innovation in motion? Is that too much to ask for? And this short sightedness will cost the EU and the UK a lot more than they figure on. Whilst we see failure after failure by Microsoft. You remember them? The people who pushed Netscape out of business, where was the level playing field then? And in all this the setting of predatory practices is not explained, it is a mere emotional stage setting. I now have over half a dozen tech IP, you think I will share that with Microsoft morons? Do you think I will set it in the UK? Then we get “It added it wants news publishers to be paid fairly for their content – and will give the regulator power to resolve conflicts.” Did anyone consider that news agencies do not have to put their materials on Facebook? I have received all kinds of links. The Dutch Telegraaf, the Australian Courier Mail and when ever I open these messages that I never asked for I get (see image below). And they are not the only one. It is the news publishers way to advertise and who pays for that advertisement?

It seems that we see a one sided story without too much investigations and explanations, so are we surprised that Apple, Google and Meta are not responding?

Then we get the danger setting, we are given “It will also make it easier for people to switch between phone operating systems such as Apple iOS or Android and social media accounts, without losing data and messages.” Did anyone consider that it will be playing in the hands of organised crime? Did anyone investigate the claims of these so called critics? With complete disclosure of their identities and their educational skills? So when we are given “The UK government said its new rules could increase the “bargaining power” of national and regional newspapers.” I believe that these players are realising that they are no longer relevant and that some will vanish when Meta becomes a reality. And in that stage Chris Philp is reduced to a simple tool, a tool of the greedy who suddenly realise that before they get to the end of their lives, the well dried up. No one is setting the stage that Google Ads is the most fair and the most engaging form of advertising, it offered the advertiser value and choice, something they never had in the past. And Microsoft was nowhere to be seem and when they did come their product was just too mediocre.

But that is not the big issue, the big issue is that it opens the stage for Chinese solutions that are nowhere in the UK and where the UK has no say over it and that stage is forgotten until it is too late. The internet is global and how long until the people go to a .cn location for their social interactions, their news and their ‘solutions’? How long until these same tech bitches start crying that the bulk of revenue is now going to China? The UK is embarking on one of the most slippery slopes and the news outlets no longer have credibility (with the exception of the Times and the Guardian), so how long until the people are smitten with Chinese glamour magazines? With Chinese news and with Chinese solutions? You think it is never going to happen? Think again, Tik Tok is a Chinese innovation, and they have a pipeline of innovations ready to deploy. So whilst the DMU and debatable ‘critics’ attack the practices of Google, Meta and Apple. Make sure you see the whole field. We do not want to switch between iOS and Android. I am an Android user and that is where I stay. I have nothing against Apple, I have their iPad Air and I am happy with it, after the 1st generation iPad this was a step up and I love it. But I have no intention to get the iPhone and I am not alone, just as there are iPhone users who have zero intentions to switch to Android, as such I see “It will also make it easier for people to switch between phone operating systems such as Apple iOS or Android” as a facilitation towards others, not users, as such the issues with this article stacks up and before I forget it, I can export my phone data to all kinds of solutions and Apple has the same, so who is Chris Philp catering to? In that stage I have a few additional questions for the writer James Clayton. We see a limited view on a stage that is kept partly in the dark, why is that?

I will let you ponder that part of the equation.

Because skills lacked?

You have heard it, you have read it (in trashy novels), the lady waiting for an orgasm lets the plumber have a go because her man just can’t get it up, or comes before her oven warms up, so the croissant tastes as natural as it can be, like wet dough and tastes like nothing you would ever want to try.

But there is the plumber and he has loads of lead in his pencil so the problem is solved. Yet, what happens when it is not merely a domestic inconvenience?

That is the part we see in Politico a mere 4 hours ago. When we see ‘German divisions over Saudi arms embargo upset EU allies‘, the article (at https://www.politico.eu/article/german-divisions-over-saudi-arms-embargo-upsets-eu-allies/), here we see the foundation with: “Germany imposed an embargo in October after the killing of journalist Jamal Khashoggi but the measure has annoyed France and Britain, whose giant arms makers require German components that are now banned“. The issue is not that Jamal Khashoggi is still alive. He optionally left with a headache and was lost somewhere. The problem is that there is no evidence, not evidence that holds up in court and the players all know this. Moreover, there is no evidence (other than circumstantial) that it was done on orders of a government, in this case the Saudi Royal family. That is at the crux, so the entire ban is on other merits. We could argue that America likes to push, with an optional setting of growth of billions as Germany stopped the processing of commerce. If there was actual evidence, it would be a different matter. The fact that an ally of Iran who is in a proxy war with Saudi Arabia has been taking the limelight with accusations and innuendo, but this has not been met with evidence. The fact that most players know this and continue on the present path is a much larger concern.

It becomes even more of an issue when we see: “whether to extend or lift its ban on arms’ exports to the Middle Eastern country, which is also a leading participant in the war in Yemen” we see even more issues. Even as we saw a few hours ago ‘Saudi Airstrike Said to Hit Yemeni Hospital as War Enters Year 5‘, the people to a much larger degree are kept in the dark on ‘Yemen’s Houthi say ready to strike Riyadh, Abu Dhabi if coalition moves on Hodeidah‘, ‘Yemenis rally in support of Houthi to mark war anniversary‘, as well as ‘Arab coalition neutralize Iranian officers, dozens Houthis in Yemen‘, outside of a few select reporting sources as well as Reuters, the people are kept in the dark regarding these events. The fact that the news has been this one sided for well over a year is more than despicable. It is a stage where the players are all stopped form resolving the issues. The fact that Houthis have been delaying talk after talk and not committing to any resolution option, stopping humanitarian aid is at the heart of the problem and that is the overwhelming evidence that Iran is directly involved, including Iranian officer, currently posing as cadavers.

Yet these same players are eagerly lining up to see commerce (read: profit) go to their places of residence as 5G, construction as well as consultancy projects are raking in billion after billion. For example the intrusion detection market (the market that opposes people engaged in discrete entry and removal operations) was a mere $3 billion last year and is expected to be at $5 billion in 2020. In this light, whilst they are vying for a slice of that cake against the Netherlands, Australia, France and Canada, why is Germany optionally allowed a piece of that cake? If they cannot act on evidence, how could their intrusion system seen as reliable? When did you last buy an intrusion detection system that gave the alarm on the foundation of ‘hunch expected‘?

It would be a different setting if clear evidence and clear evidence beyond all reasonable doubt was delivered. The CIA gave a mere ‘highly likely’ that Saudi Royals were involved, highly likely? They gave much more certainty on WMD in Iraq and none were ever found, so at this point I think it is important to see that there is a much larger play being made against certain players, whilst their opponent (Iran) is given the clear marks in too many places; it is more than buttering the bread of opportunity, it is the core foundation of staging deception against certain people on a global scale.

You can fool some people all of the time.
You can fool all people some of the time.
You cannot fool all people all of the time.

Several players have moved between stages 2 and 3, trying to set the surroundings so that they can try to get option three in play and it is important for us all to realise that this should not be catered to and we need to make certain that those trying this approach are pushed into the limelight, showing us their faces and their identities.

Even as the deadline to lift the ban does not come until Sunday, we need to see that there needs to be an account with markers on both sides of the balance and we should be told on the names of those involved. The embargo in its initial stage is an issue, but to some degree it makes sense, or better stated we understand that it happened. Yet at this stage as there is clear no evidence, at that point impede any government of tools for their defence is an issue and it also shows that Saudi Arabia is well placed to grow their own defence systems. Personally I should advice the KSA to consider buying Remington arms as it is up for sale cheap and it would also give them a global export item (not the worst idea to have), from there on, as Saudi Arabia grows more options we will suddenly see players like Germany suddenly do a 180 degree on their own actions and try to ‘smooth things over’, yet at the core of that form of diplomacy, could any player have any faith in their value as an ally, especially as the foundation was not set on something called ‘clear evidence’?

Politico gives one more gem that has larger implications. With: “both countries signed the Treaty of Aachen in January in which they agreed “to develop a common approach for arms’ exports” that applies to all joint defense projects” we see a larger issue, even as the stage was set on common sense, the polarisation in the EU at present shows that what was common sense is now stopping nations to do proceed on their common sense and value of commerce. If the evidence was clear it might have been a topic of debate, now without that it is a cinder block of discontent on two (read: four) players with skin in the game. Germany by itself, up against the commerce needs of the UK and France and Saudi Arabia as a victim of wrongful applied leverage through a treaty that did not require proper evidence to support the openly given embargo. At what point was that not clearly looked at?

You see, it goes beyond the openly seen parts. The fact that in all this the questionable part of Turkey in all this was kept below the surface and the fact that the EU players have been catering to the ‘needs’ of Turkey in all this plays a much bigger part, giving a stage of selective discrimination for the needs of the businesses of the EU in a much larger degree. It is seen in in one way (to some extent) in the Jerusalem Post, a paper that is decently obvious in their anti-Iran writing. Yet the stage we see with: ‘Germany Refuses To Disclose Iranian Attempts To Buy Nuclear, Missile Technology‘, it almost reads like ‘where there is smoke, there is a huge fire‘ which is obviously not the case, yet the stage where Germany is unwilling to disclose the materials optionally releasing Iran from blame is still a larger issue. If proven that it was the case, it would show the German government as hypocrite in their embargo of goods for Saudi Arabia, all whilst there is a clear proven case that Iran is involved in a proxy war with Saudi Arabia, it is actively engaged in support of Houthi fighters in Yemen and foundational acts that Iran is not allowed to make are being made. These elements alone should be evidence to ban Germany from all Saudi Projects (an exaggerated move mind you), but the fact that this is not out in the open, proves to some extent the points of view that I am giving here. The article (at https://www.jpost.com/Middle-East/Germany-refuses-to-disclose-Iranian-attempts-to-buy-nuclear-missile-technology-584512) also gives us: “FoxNews.com reported on Germany’s concealment of important data that could establish Iranian regime violations of the 2015 nuclear deal – formally called the Joint Comprehensive Plan of Action (JCPOA) – and sanctions targeting the Islamic Republic’s missile program“, the fact that we see the EU keeping out of the light the evidence of an optionally failed JCPOA as well as the face that the EU is still protecting a stage that has failed is voice to even more issues (like the gravy train for those on the JCPOA committee), the fact that the media is not taking this into the light (proving or disproving) is a much larger issue still.

It almost reads like the story of a man who could not get his business done, so he hopes that the other interested party has a desire to read William Shakespeare and markets all the attention and optional needs in that direction, so that the actual issue can be ignored. The analogy fits to the extent that whatever there is, it is not a marriage, it is not a relationship, merely a sliding acquaintance, and that is the foundation for less and less. In finality getting back to the Iran situation, the mere setting of “The Post reviewed a German intelligence report from 2018 that wrote, “Iran continued to undertake, as did Pakistan and Syria, efforts to obtain goods and know-how to be used for the development of weapons of mass destruction and to optimize corresponding missile delivery systems.”” has nothing to do with the actual embargo and the reasoning, yet as the reasoning of the embargo is not set on evidence, the continued support and protection of Iran makes even less sense and as such we see embargo’s, accusation all linked to evidence that is not there.

It becomes even worse soon enough. It is a side that no one has looked at, but got some illumination only 15 minutes go. It is a book by Russell Muirhead and Nancy L. Rosenblum called ‘A Lot of People Are Saying‘, it is a book about conspiracism targeting democratic foundations. We might think it is a laughing matter, but it is not. The problem is not that people think that there is a conspiracy, the actions of the media themselves are partly to blame, the sides I exposed today. Issues that can be easily provided for through merely seeking the web and reading the newspapers, is a stage that shows the unbalance, the discrimination of one and the hiding of another party in all this, the media is part of it. Merely digging into the events that surround American Big-Pharma, the events on Khashoggi, the ‘protection’ of Turkey and Iran, the non-reported acts of Hezbollah in Yemen, as well as the issues shown in the last few days regarding Huawei. There is a much larger play based on commerce, profit and greed and the media is merely a tool to be exploited, whether the party has the word ‘news’ in its name or not.

We need to start looking without blinkers and see the whole playing field, not one that is merely being reported on for the need of emotion, lacking clear information. If certain ways are not amended, the matter will only get worse.

We can make it a tale of adultery, or a tail of incompetency, yet the foundation remains, we set in place core values and then reset the stage through presentations and require the presentation to be accepted on face value innuendo, ignoring the originally required evidence levels to be adhered to, and the media? Well, in one specific Dutch case, the event involving Mohamed Lahouaiej-Bouhlel in Nice got the front page, yet when White extremists attacked a Mosque; it was all about a racer taking a selfie, on the front page, which should be evidence enough and make my case for me. How much longer until the people are given the factuality of the world, not the perception the media gives us by making sure there is no space left to report on 50 kills and 50 non-fatal injuries. And it goes further than that; we could argue that Google is supporting that point of view. Consider the two mentioned events. Google represents the two events in a very different light, diminishing the danger of one and embossing the other, the media and digital media has gone that far out of balance, was it merely because skills lacked, or because they want the lacking skills shown so that perception shifts, I will let you decide that part.

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Tagged as 2015 nuclear deal, A Lot of People Are Saying, Christchurch shooting, CIA, Eu, Hezbollah, Iran, JCPOA, Jerusalem Post, Joint Comprehensive Plan of Action, Khashoggi, KSA, Mohamed Lahouaiej-Bouhlel, Nancy L. Rosenblum, Netherlands, Russell Muirhead, Saudi Arabia, Saudi Royal family, Telegraaf, Treaty of Aachen, Turkey, Yemen

March 18, 2019 · 11:21

Media out of bounds

This time I am at a loss. I know that discrimination and racism are entities that exist, yet until last weekend I had no idea that governments would be condoning it. There is absolutely no other way to see it. There is close to 0% of the educated world that does not know that something horrific happened in New Zealand last weekend, 50 lives were lost. So for the most, the entire planet is capturing the moment for their audience, their readers, or so one would think.

There were some rumblings via Al-Jazeera initially, but I was focussed on other matters. Yet when a friend gave awareness to a front page of what might be the biggest newspaper in the Netherlands, it is time to look at the issue at hand. So this large newspaper (large in size as well) decided to use 2/3^rd of a page for a photograph of a formula one racer ending in 3^rd position taking a selfie. Now in fairness, it is a Dutch racer, so there is national pride at play, but for a newspaper that always has been on the front seat to blow terrorist actions out of proportions (the emotional drive) to take this step is just insane. As such a 3^rd position is more important than 50 dead Muslims killed by a Christian?

Because that is the setting!

The Daily Mirror made it worse by having in one instance the stage of an ISIS Maniac (a previous event), yet in the case of New Zealand it is an Angelic boy who grew into a mass killer. The images are also staged for maximum effect. So how islamophobic has the Christian world become?

Because if this continue we are merely one step away from the stage where niggers go into the back of the bus, and will anyone react when it happens to the busses in London and the trams in Amsterdam? If this upsets you, good you should be! You need to get angry because this is just insane; to allow for two measurements, one for Christians and one for the rest? Even as a Christian I find that method of measurement revolting.

At least the Sun gave the goods and a lot more, merely on the front page. It should be offensive for the Dutch Telegraaf to be seen as inferior to the Sun, yet they pulled it off that day. I have looked at hundreds of images of newspapers, plenty in languages I cannot read (and cannot state what they say), yet nearly all papers, except the Daily mirror, all saw a monster, a madman and a terrorist, none of them saw some angelic boy reference.

There is something wrong, it has been wrong for a long time, yet this event is probably the first time that the issue gets pushed to the foreground this clearly. I have stated several times (my personal point of view) that the media facilitates to their shareholders, their stakeholders and their advertisers in that order, beyond that the audience gets served. When we take that into consideration, I wonder which individual was so set on getting the Angelic reference printed, the Catholic Church perhaps? As for the Netherlands, a nation filled with business driven needs, the idea that the front page required a 2/3 page for a photo of a driver making a selfie is equally weird. In that view, was it so weird for me to make the claim that the actions in New Zealand are seemingly just the beginning?

This view is only enhanced when we see the Financial Times giving us yesterday (at https://www.ft.com/content/13227c90-487b-11e9-bbc9-6917dce3dc62) ‘Police believe New Zealand shooter may have acted alone‘; the reports in the last 36 hours contradict this strongly. The spread of the manifest, all set to the stage mere minutes from the attack, the stage of reloading, the setting of time until capture whilst the video and stills had been uploaded to a whole range of locations. So when I see: “Security services under pressure to explain why Brenton Tarrant was not on a watch list“, I see a much bigger issue. I think they are aware that he did not act alone, they have no way to find them at present and that is the larger issue. When Mike Bush gives the Financial Times: “He also defended the police response to the mass shootings on Friday, which saw 28-year-old Brenton Tarrant target Muslims praying at the Hagley Park mosque in central Christchurch and then drive about 5km to the Linwood Mosque, where he shot more worshippers“, I will not disagree. This is not something that New Zealand was prepared for, the fact that this person went to a second place is a larger issue and when we see: “within 36 minutes we had that mobile offender in our custody“, we see the issue. He ‘wanted’ to get captured (massive speculation on my side), more importantly in that time frame he could not have done the digital part. It shows that he was not alone in this; there was a support system in place. Another source gave us that this had been planned for two years. That might hold a truth, but the entire setting with the Bangladesh Cricket team a mere 50 meters away gives rise to slightly bad timing, this means orchestration. It is massively unlikely he had all those parts available. In this the politicians are making matters worse. This is seen with: “Technology platforms, including Facebook Twitter and YouTube, are also facing growing criticism from politicians over their failure to prevent the gunman live streaming the shootings on the internet and subsequently allowing the sharing of the video“. This is seen with the Twitch statistics that report “As of May 2018 there are 2.2 million broadcasters monthly“, that comes down to 72,330 streamers every day, there is no technology that will monitor it; there is no AI that could intervene. That solemn common sense moment makes the involved politician part of the problem, not part of the solution. Consider that out of all 0.000138% uploads one is optionally an extremist (this implies one extremist every day), so the number ends up being 0.000003% is optionally too dangerous. We cannot get politicians to put in the effort of keeping up a decent information system that is 75%-80% efficient and they demand 99.999997% efficiency from technology platforms? Politicians have become that delusional. And in addition, there is no way to get them all aboard, making it an exercise in technology discrimination, so in light of what the newspapers get away with, we see no validation on these politicians being loud to get some limelight.

The ‘evidence’ that he did not act alone is seen with “She also revealed that the gunman emailed a copy of a manifesto, which outlined his extreme right-wing, white supremacist views, to her office nine minutes before the attack began. She said it did not include a location or specific details that might have enabled authorities to respond faster. The manifesto was also sent to media groups“, the flaws and other parts showed that his agenda was not some clockwork orange, and the expression fits. When you consider “something bizarre internally, but appearing natural and normal on the surface” we see the larger failure. His actions, his manifesto and his preparations, bizarre on several settings, yet he raised no flags. This is not an attack on the intelligence groups (not this time anyway), yet to do all this, to not raise flags, that requires training and coaching. Even if he was super paranoid, the weapons and ammunition required would need all kinds of assistance (optionally from the criminal elements), but when someone buys all this hardware and ammunition, there is a trail, there are other paths that would have raised a flag or two, yet apparently he had none, this can only be done if others did part of that; an IT ‘friend’ setting up the accounts, the scripts and the stage of forwarding all the images and streams to multiple locations. Was the setting of the Cricket day predetermined? That might have been very likely, yet to know where they would all go for the religious service, how did he get that information? Too many elements cannot be answered with ‘lucky’. My point of view becomes a lot more acceptable when we see: “In the first 24 hours we removed 1.5m videos of the attack globally, of which over 1.2m were blocked at upload” and that was only Facebook, so they blocked less than half at upload, yet the amount of uploads and sharing gives rise to a much larger issue and even as we accept that many are not from extremists, merely from people forwarding what they saw, this was ONE channel. 4Chan, 8Chan, YouTube, Twitch, Twitter links, the list goes on and all can link to one another. This was more than being prepared; Brenton Tarrant had either direct support or a support system at his disposal. They are not the same yet at present the police and the Intelligence community cannot answer which is which. In that same light, I am not entirely sure if tightening gun laws will solve anything. It is so easy to look at guns and their laws, yet the oldest rule applies. Guns do not kill people, people kill people.

In this we must admit that PM Jacinda Ardern has a close to impossible task at present, not merely because of how rare gun violence is in New Zealand, it is the response that some of the media is giving. From my personal point of view some are facilitating to anti-Muslim events. I see the Dutch Telegraaf and the UK Daily Mirror as direct evidence of this. If there was a united front the news would have reported it as such, yet as one twitch was not stopped and 100% more in news coverage was able to give a presented minimised violence footprint, we can say that the technology platforms are a lesser concern than the media is currently showing to be.

It is in that same view that I oppose: “Terrorism experts said the Christchurch attacks showed there was a need for police to focus more on far-right extremism“, I oppose it because the statement is against one successful attack. The issue is not the person; most extreme right people tend to be dumb as fuck (a mere casual observation on American far right wing elements). The elements that made this a success is more important, the timeline, the hardware and the software shows that Brenton could not have done this alone, even if he did do most executions alone, someone taught him to remain under the radar; especially when it comes to the weapons, the ammunition, the IT requirements, the streaming and editing. He would have been on someone’s radar, the fact that he was not makes it a larger issue, not merely some extreme right issue. I can to some extent agree with Jose Sousa-Santos, director of the Strategika Group when I see “there may exist within the security and intelligence community an institutional culture in which Muslim, indigenous and activist individuals and groups are perceived to be the greater threat to national security than right-wing extremism“, yet that does not deter from the fact that Brenton should have been flagged at least once, the fact he was not gives rise to the larger concern of support towards his actions.

So in the end The Financial Times got a lot right, yet the title will remain under debate making it a much larger issue for Mike Bush and Rebecca Kitteridge for the foreseeable future.

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Tagged as Brenton Tarrant, Catholic Church, Christchurch, Daily Mirror, Facebook, Financial Times, Hagley Park mosque, Islam, Islamophobia, Jacinda Ardern, Jose Sousa-Santos, Linwood Mosque, Mike Bush, New Zealand, Rebecca Kitteridge, Strategika Group, Telegraaf, the Sun, Twitch, Twitter, Youtube

February 13, 2019 · 12:58

Life without pension

Yes, that is one of the elements that are now in play, life without pension, work until death. Did you consider this danger when you woke up this morning? It does not matter whether you are 55+ and awaiting your first months on a pension, or perhaps you are a decade younger and you are setting the stage for your house, your family and your future to be decently secure. Perhaps you are young and you do not care yet on how you celebrate your golden years. Yet what happens when you are becoming aware that this will never be the life you can embrace?

For me it is not really a concern, I have always been a workaholic.

Yet the picture I am painting is slowly becoming a reality. I made mention somewhere in 2018 that there would be noise on renewing, or not cancelling the entire stimulus program. I was initially pleasantly surprised that this was exactly what happened. It did not take long, a mere 8 weeks later we see: ‘Dutch central banker calls on ECB to pause plan to ditch stimulus‘ (at https://www.ft.com/content/d42d5c12-2def-11e9-8744-e7016697f225). Here we see: “The European Central Bank should pause plans to ditch its crisis-era stimulus, the governor of the Dutch central bank has said, in a sign that concerns over disappointing economic growth have spread to the eurozone’s most hawkish circles“, In addition we see: “the central bank needed to gauge how badly the economy was faring before pressing ahead with plans to normalise monetary policy“. This is merely one part where we see that the economy is a jester and we are all playing the same card whilst the protected few get the entire deck, an economy that requires $3 trillion and counting to run through invested support is not running, plain and simple and that debt is with us, the tax payers. The idea to runt that bill up higher should outrage us all, no matter what excuses we get to hear. So when we see “he has moved into line with Mr Draghi and the majority on the ECB governing council. It shows the steep deterioration in eurozone sentiment“, I merely see that not only was Brexit the better idea, we need to get out as quick as we can, with exit deal or not.

What do you think will happen when this blows up in their faces? It will; I personally believe that there is close to zero doubt on this. The Wall Street Journal gave us two days ago: “the ECB could raise interest rates this year. If it doesn’t, the bank might turn to new stimulus measures. It has few tools left“, I will go one step further, it has no moves left other than to tap unused resources for short term gains and that is when someone will give the audience assurances with some small ‘extremely unlikely‘ or some ‘failure is too small a factor to see it as any threat‘ mention and soon thereafter that one thing happens and the pensions will be gone. The Dutch Telegraaf reported on that less than 10 hours ago where the reader gets: “De EU-landen willen volgende maand de knoop doorhakken. De PEPP moet het makkelijker maken geld opzij te zetten voor de oude dag door een einde te maken aan de lappendeken van regels in de Unie“, which translates to: “The EU countries want to make a decision next month. The PEPP should make it easier to set aside money for the old age by putting an end to the patchwork of rules in the Union“. Critical viewers see the danger as the mandatory part comes into question. So not only do we see places like Carillion (UK) with their “pension fund deficit of £800 million” a mere week ago. So what happens when this ends up being the impact on a European scale? What happens when the Dutch and Swedish systems (which are among the safest and most secure pensions) collapse? That is not fictive, that is not academic, that is a realistic danger of the PEPP, when those schemes start banking on the wrong bonds and investments there will be no pension left. Good luck getting by with that March Hare menu. The fact that this is getting pushed by more and more marketing, complete with ‘How a US firm pushed for EU €2.1 trn pension fund‘. It makes me extremely cautious. In the age where we see new stimulus replace another, whist there is no economic good to be found, we see more and more debt, the moment the ECB gets there fingers on that PEPP option the fences move and the entire herd of economic protection levels gets squashed, like grapes in a wine barrel, to be diminished to the status of vinegar. So there goes your pension that was initially a decent chardonnay at $15 per 700ml, and is now no more than $2 per gallon, so how does that go over with your planned pension outlook?

The rapid growth of all these international advisors all claiming that the Pan European Personal Pension products (Pepp) are a good idea is making me even less trusting. Having seen the eager needs of hedge funds managers over the decades and their renowned need for greed is making me worried that this will blow up and whilst they walk away with multimillion bonuses, we all end up without a pension. It does not get any better soon. That part is seen through the paper by Paul Cox, Lecturer at the Birmingham Business School (at https://www.birmingham.ac.uk/Documents/college-social-sciences/social-policy/CHASM/briefing-papers/2018/BP1-2018-Pan-European-Personal-Pension-Paul-Cox.pdf), and the first thing that should worry you is: “Currently there is no specific EU legal framework on the design, provision and distribution of PPs“, so not only is this an international product limited by national law, there is every indication that once outside of the borders a lot of national legislation loses its impact and power, giving rise to all kinds of dangers. Even as we are given: “The PEPP takes the form of a Regulation. A Regulation is directly applicable in each Member State and does not need to be passed in Parliament as a Directive does.” This comes with the added danger that these regulations can be altered at any time, giving the rise to ambiguity as well as adaption to fit the need of the ECB, that same entity that callously handed over $3 trillion in stimulus with nothing to show for it. How does that fit your retirement scheme?

Even as we see: “Transfers into a PEPP from any national Member State PP is allowed but a transfer from a PEPP to a national Member State PP is not allowed” and are given the reasoning of “The aim is to prevent possible tax relief arbitrage where the PEPP tax relief is not as generous as national Member State tax relief.“, the indirect danger will be that the PEPP could face additional taxation (on top of the normal national one).

Yet the bigger danger is in the unspoken part of: “An obligation to provide a financial guarantee might lead to investment in low risk and low returning assets, such as government bonds and money markets, which would go against the CMU’s aim of fostering investment in equity and increasing private sector economic growth. A financial guarantee may also create a significant barrier to entry as only some providers would be able to offer such guarantees“, so not only the loss of optional guarantee, yet the bigger part is the danger of much higher risk investments, apart from the partially visible danger of investing in ECB bonds fuelling more non profitable stimulus, the danger of big risk as people experienced in 2004 and 2008, at that point your pension is gone.

That is a direct danger at present and there is almost zero chance that these dangers will not hit you at some point. The problem is that the closer you are to retirement, the larger the impact will be. Some of my friends were hit with their low risk investments in 2008, resulting in an added 10 year shift to their retirement, so retiring at 75, do you think you will be that lucky?

From my personal point of view, it is not the large players that are the danger, there will always be another Carillion, the danger are the dozen small players where we see people diving into a pool they do not comprehend and set aside the essential protections required, all with the view to strike rich fast. In that view, consider the “the fallout of a $235 billion dirty-money scandal that has engulfed the local branch of Copenhagen-based Danske Bank A/S“, then take “the ABLV, Latvia’s third-largest bank, accused of laundering Russian money and starved it of American dollars, forcing it to close“, add “the closure of Malta’s Pilatus Bank and a 775 million euro fine imposed on Dutch lender ING” and the clear message, given via Reuters by committee chairman Petr Jezek: “The Financial Intelligence Units of many EU member states are ‘clearly not up to the task’“, that is the PEPP picture you could face, all getting in and out quick and ransack EU pensions overnight (and all falling over at the same time). There is too much danger and as we might have some faith in the uber wealthy Larry Fink and his need to grow his $6 trillion empire, the danger of small bank barracuda’s pretending to be great white’s or their version of an all devouring Megaladon (thanks Jason Statham) is too great, there is a lack of protection in place and with pensions that is just too great a risk to face. To translate that in other terms. It is not the one player losing $1oo billion that is the danger, it is the setting that 100 players all lose $1 billion at the same time, the systems are often not ready to deal with such a situation.

I fear that the fraud and pocket filling impact by greed driven persons the next time around will be a lot higher, a lot more devastating. I always figured that I will be working should I pass the 77 mark and still be alive, that is the one benefit of a workaholic, is that the view you are having for your retirement at 40+?

BP1-2018-Pan-European-Personal-Pension-Paul-Cox