Tag Archives: the Guardian

July 22, 2015 · 21:22

Spelling fraud with a ‘T’

So, after we see the events in Tesco, which has taken its billions in toll from September 2014 onwards, we now learn that Japan has its own version of Tesco, which we read in ‘Toshiba boss quits over £780m accounting scandal‘ (at http://www.theguardian.com/world/2015/jul/21/toshiba-boss-quits-hisao-tanaka-accounting-scandal).

Here it is not the meagre 263 million that Deloitte discovered would only be the tip of the Titanic sinker, in the case of Japan, it is three times the amount, which initially might beckon the question whether the fall out for Toshiba could be 9 times worse. Is it that simple?

The Guardian gives us the following “Tanaka and Sasaki knew about the profit overstatement and created a pressurised corporate culture that prompted business heads to manipulate figures to meet targets, the investigators found“, the other one is “Improper accounting at Toshiba included overstatements and booking profits early or pushing back the recording of losses or charges. Those actions often resulted in still higher targets being set for business divisions in the following period“.

These two are aimed at one side of a picture, but what some sales people will know is that this is already a disjointed part. Before I go into this, there is one more quote that needs to be mentioned. It is “Despite its shares losing almost a quarter of their value since the irregularities surfaced in April, it is still Japan’s 10th biggest company by market value. It was created by a merger in 1938 but its roots date back to 1875 and it was one of the companies that turned Japan into an industrial power“, so these irregularities have been part of something already for months, in addition, from an article one day earlier we get “The report said much of the improper accounting, stretching back to fiscal year 2008, was intentional and would have been difficult for auditors to detect“.

The last paragraph alone implies that like with Tesco, this system could not be done without massive ‘support’ from accountancy firms, moreover in all this, we have to wonder if anything will be achieved, especially as PwC (Pricewaterhouse Coopers) seems to have fallen off the view of journalists, and as we have seen no news from the SFO (Serious Fraud Office) since December 2014, we can ask in equal measure, whether the now sparkly news on Toshiba will go anywhere at all. Is it not interesting that PwC added 64 new partners three weeks ago, they get all the limelight as we read “Luke Sayers, chief executive of PwC Australia, congratulated the new partners on their appointment, praising their outstanding professional expertise“, whilst at the same time we get “IOOF has hired accounting giant PwC to review its regulatory breach reporting policy and procedures within the firm’s research division“, whilst in all this, PwC should still be regarded as the number one problem, as for a long time Tesco’s ‘issues of monetary matters‘ ended up getting overstated by well over a quarter of a billion, and so far it seems that either the SFO is nowhere, it is hushed or it seems to pussyfoot around PwC as the PwC marketing engine goes on like there was never a glitch in their seamless sky to begin with.

Now it is important that the entire PwC issue hits the UK, so a global company like PwC should not get hindered by one rotten basket, especially as they have dozens of baskets. Yet as one basket was regarded to have gone ‘rotten through’, the fact that there remains a system of silence, gives way to ask the question why PwC should be trusted at all and in that light, in the case of Toshiba, how intensely damaged the accounting business has become, you see Tesco and if we go by the words of Sheldon Ray of the Financial times we see “non-GAAP earnings per share that were more than 100 per cent higher than its GAAP numbers in the last quarter. Another reported 2 cents a share non-GAAP profit vs $1.41 per share loss under GAAP in one quarter” (at http://www.ft.com/intl/cms/s/0/f07720d4-c9b1-11e4-b2ef-00144feab7de.html#axzz3gWXJGSSF), so how deep goes all this? This grows in light when we consider ‘Richard Bove on Fannie Mae’s Accounting Irregularities‘ (at http://www.valuewalk.com/2015/07/fannie-mae-accounting/). Not a number one source, yet consider the quote “The result of their work is a conspiracy theory concerning the government takeover of Fannie Mae in which the public has been lied to concerning Fannie Mae’s financial condition in 2008 and in subsequent years“, this is linked to the work by Adam Spittler CPA, MS, and Mike Ciklin JD, MBA, MRE. Spittler is a Senior Associate at KPMG and Ciklin is an investor in a number of start-up digitally based companies, so we see that there is at least some Gravitas with these people, now add to that the information from the Washington Times (at http://www.washingtontimes.com/news/2015/mar/11/fannie-mae-recklessness-risks-future-financial-cri/), where we see ‘Mortgage giant hired unqualified auditor with conflict of interest for critical position‘ and “Nearly seven years after it was bailed out from the housing market crash, mortgage giant Fannie Mae is still engaging in behaviour that could precipitate future financial crises and taxpayer losses, a government watchdog warns in a report to be released Wednesday“, which was an article from last March. Now, the fact that this is not ‘new’ news is not the issue, what is the issue is that there is an almost Global act of blatant disregard, leaving the people the feeling that accounting seems to be set to levels of intentional misrepresenting companies for the need of bonuses and the ‘Holy Dow’. The fact that the activity against such transgressions is seemingly kept of the table in these economic times will only grow stronger unrest.

Yet, is my view correct, is it not me that is in error? Let’s face it, One in the US, one in Japan and one in UK does not a conspiracy make, it does not reflect on some non-existing criminal empire based on the quill, ink and parchment (as accounting used to go in the old days). What is an issue is how on a global scale governments seem to act or not act is matter for discussion, yet in all this external forces have been at work too, let’s face it that the US in 2008 was a place of desperation, even as it is now still on the ‘to-be-regarded-as-bankrupt’ even governments will make weird leaps when they are pushed into a corner. In my view, the fact that the bulk of global accounting is pretty much in the hands of half a dozen accounting firms remains cause for alarm and PwC is in the thick of many events. Including the 40 million property scandal surrounding Xu Jiayin last march.

Yet back we go to Japan, the land of yummy Sushi and as it seems shady bookkeeping. You see, there is no way to tell how deep Toshiba will get gutted, if Tesco is any form of indication, there will be a massive backlash, If 256 million leads to a well over 3 billion drop in value, what will it do to Toshiba? More important, with Japan so deep in debt, would it push Japan over the edge of bankruptcy? Let’s not forget that Japan hung over that Abyss a few times and the US seemed to have ‘intervened’ in favour of Japan in the past, in this case, that might not ever be an option again. For those who think that I overreact, think again. Tesco lost value factor 12. Now, we all agree that this is extremely unlikely to hit Toshiba to that degree, but what happens when stockholders walk out? Now consider that Toshiba is amongst the 10 largest Japanese companies with a global reach that equals IBM, that whilst Japan has a debt of $10 trillion, the fallout will hit Japan (again). To give view to the next part, I need to revisit a part I mentioned in the past. Let us take a look at the following example:

In week 10 a salesperson makes a sale, knowing it will not be a solution, during the next week that customer gets managed all over support and after a week, they escalate and communicate with the customer on solving it, a week after that the customer gets the apology that there is no solution, but that the customer will get a full refund, case closed.

Week 10 Sale made
Week 11  Support starts
Week 12 Escalation
Week 13 No resolution
Week 15 Refund

Now the part, the sale was made, in Week 13 no resolution, now we leave one quarter and go into the new quarter, the refund will not affect the sales person’s bonus, nor will the sales target be affected due to negative sale.

This is based on actual events, now think of the impact when this is not mere sales, but 1.2 billion in sales. Did this happen? I cannot state that all of the funds were done in that way, but consider the impact of increased sales and the people who enjoyed their bonuses from that (if that happens in Japan).

Consider the quote “blamed on management’s overzealous pursuit of profit“, which we get from the ABC article (at http://www.abc.net.au/news/2015-07-21/toshiba-top-executives-quit-over-us12-billion-scandal/6637976). Now add to that the quote “underlings could not challenge powerful bosses who were intent on boosting profits at almost any cost“, so how was the profit boosted? You see, this is not just an auditing issue, when we look at these large companies and the way that sales are arranged and forecasted, consider the events involved. To name but a few

  1. Leads
  2. Contacts (the consequence of a lead)
  3. Forecasting (the consequence of contact and the push for sale)
  4. Sales registration (Scopus, Salesforce, SAP)
  5. Accounting
  6. Reporting

Six iterations of paper and electronic trails that had to handle 1.2 billion in virtual revenue to some extent. Even if the leads cycle was avoided (by going through existing customers), there are other divisions that needed to be aware of a large non existing sale. You see, twelve hundred million dollars makes for a massive amount of monitors, laptops and other items Toshiba makes. Even over time, flags should have been raised on several levels, so when I read “The report said much of the improper accounting, which stretched back to 2008, was intentional and would have been difficult for auditors to detect“, which implies that the intentional misdirection was done over 6 iterations, which means that the group involved was a bit larger than we read in the articles at present. More important, how well did the Auditors seek in this regard? Which now takes me back to the reference I made earlier regarding “PwC added 64 new partners“, so how good are these ‘senior’ players? Making someone a partner, so that they can be misdirected by a senior partner would be equally disturbing. The fact that Toshiba falls through just like Olympus did, in a place where these events are regarded as ‘shocking’ according to investigating lawyer Koichi Ueda does not make me any less nervous. How institutionalised is overstating revenues on a global scale? You see, this is happening a lot more than many realise and even though many are not found, it does not mean it is not happening next to your own place of business. Now we get back to the issue I raised regarding Fannie Mae. The fact that it is not unrealistic that the government looked the other way here is still a fact we must consider. More important, are the two parts not mentioned in any of this. The first is linked to the issue I reported on January 30th 2013 (yes over 2 years ago at https://lawlordtobe.com/2013/01/30/time-for-another-collapse/) in my article ‘Time for another collapse‘, I questioned the way the Dow did not just recover, it did so whilst places all around us were remaining below par for a very long time after that. Now consider the following speculative theory:

What if places like Fannie Mae used the ‘leave one in’ approach. So there were mortgage packages and derivatives. So, we have four properties that are doing fine and we add one worthless one to the mix. The package deal as the salesperson states. So the buyer ends up with a ‘value’ and whilst one part is ‘given’ without value, that person has a good deal, now consider that this one place is no longer a lost place, it is no longer a write off. Over time the market would recover with less losses, so is this truly an action that is virtually impossible? Moreover, if such a thing truly happens, would it be fraud? How could an auditor ever find the event in the first place?

This now links back to Toshiba, not just in how you push up 1.2 billion, but how to get it passing the view of a ton of auditors. In the case of Tesco, I personally considered the involvement of PwC from the first moment the news came out, there it was a less murky place because as supermarket chain their product goes to Joe and Jolene Public. That is not the case with Toshiba. Not only are they global, but with a power plant division (including the one that makes you grow in the dark) as well as medical equipment (likely needed for previous mentioned division), Toshiba deals with consumers, corporations and governments, which on one side requires a lot more administration, but that administration would have the ability to go murky on an exponential level, which gives added value to the claim “difficult for auditors to detect” yet that gives option to two parts, is there a questionable level of administration, or are we confronted that the auditing partner in this case was a 28 year old recently promoted individual who now gets his/her first real large account?

Why these statements?

You see in all this, on a global scale, the law has failed. It fails because the rewards are just too good to pass up for those playing that game, the chance to get away with it and the option to keep at least a decent part of these earnings safe makes the option to do this again and again almost a certainty. The law has no bite and the corporations involved are too powerful to get smitten down, so this avenue will continue for a long time to come. In addition to this we ask what else is affected and why is there a tendency from the press to not keep these matters a lot more visible? Consider how much the Guardian and others reported in 2014, if you now Google ‘PwC Fraud SFO Tesco‘ we get nothing after December 22nd, what a Christmas present that is! What is funny that one other part showed up, which is Keith McCarthy, now director at PwC London, who was Chief Investigator with the UK Serious Fraud Office before that, so would it be mere speculation that the best way to avoid prison is to hire the police officer so you know where they will be looking? #JustAsking

I am only asking!

Anyway, with a wish for a better lifestyle, I will consider helping Toshiba to retrench their IP and Patents for a mere 0.4% of the value, now if I could only persuade my Law Professor to help me out, 0.3% for her and 0.1% for me, I should end up with enough to buy http://www.cooperbrouard.com/St-Peter-Port/Ridge-House-property/3835453 and retire in a relaxing way!

I agree that I could do better, but then I was never a greedy person, which is a failing the Toshiba executive clearly lacked.

 

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July 19, 2015 · 12:17

A political minefield

If there is one place where politics have bungled the ball on near titanic proportions, than it would be healthcare. The UK with the NHS issues, Australia with Medicare, the Netherlands with Gezondsheidszorg and the less we say about Obamacare, the better it is for all of us. They all made massive errors which changed the game for any nation that needs to take care of healthcare.

The UK has had its own issues for some time, yet now we see a new event coming up. Let’s take a look at ‘Cancer diagnosis ‘within four weeks’ under new care plan‘ (at http://www.bbc.com/news/health-33574233). First off, it is a good article by Nick Triggle, he looks at it from a decent viewpoint, but is there an issue?

The first part is “The five-year plan will cost £400m a year but experts say earlier treatment will result in similar savings. They say the plan could help an extra 30,000 patients survive for 10 years“, so basically there is no additional cost, which sounds good, let’s face it, in the increasing pull of funds, breaking even over the next 5 years does sound awesome, the people get to live up to another decade, which is just a bonus.

My initial issue is with the quote “Harpal Kumar, chief executive of Cancer Research UK and chairman of NHS England’s task force, said the changes could help create a “world class” service over the coming years“, the term ‘world class‘ seems a little out of bounds and that also sets the tone, let me go on so that it will all make sense.

The second quote is “We have an opportunity to save many thousands of lives from cancer“, which in light of all this does not make sense, especially when we see “But Mr Kumar believes another 30,000 people a year could end up surviving that long once the changes have been put in place – a third of them simply through diagnosing the disease earlier”

I admit that I am splitting hairs, because giving them an additional 10 years is not saving a life, it is prolonging it. Apart from that, is there an objection? You see, healthcare is about keeping people healthy (and saving lives whenever possible) so there is no real objection is there? Giving a person up to 10 years more is a noble goal, especially when 130,000 people die each year, letting them enjoy life a little longer is not wrong at all. So why am I looking at this article?

For that we need to look at the steps. These 7 steps is what brought the light in

  • The creation of a four-week target for diagnosis from GP referral. Currently patients are meant to see a specialist within two weeks of a GP referral but can then face weeks of waiting for tests, meaning a growing number of patients do not get their treatment started within 62 days as they should
  • An 80% increase in the number of tests being carried out, including increasing the ability of GPs to order tests directly – for many they have to go through a hospital specialist
  • Replacing more than 100 radiotherapy machines – half of England’s stock – with new, better models
  • Recruiting extra staff in areas such as specialist nurses and radiologists, with the latter needing to nearly double in number
  • Cancer patients to get online access to all their test results and a specialist nurse or other key worker to co-ordinate their care
  • A call for action on smoking and obesity – four in 10 cancers could be prevented through lifestyle improvements
  • All cancer survivors to be given a recovery package so they get the support they need to recover from their treatment and stay cancer-free

The first premise is shown in dots 3 and 4. Replacing 100 radio therapy machines with newer ones and recruiting extra staff (especially radiologists). The fact that the article implies that there are 200 radiotherapy machines is equally disturbing. You see, 280,000 diagnosed people implies 4 people a day and that is if every machine is properly managed, monitored and staffed. The issue is not complete and facts are missing.

For this we take a look at breast cancer. The site Jezebel had an interesting article linking to all this. ‘Can You Be Diagnosed With Breast Cancer In Just One Day?‘ (at http://jezebel.com/5865123/can-you-be-diagnosed-with-breast-cancer-in-just-one-day), where we read “I wrote to Dr. Karla Kerlikowske, professor of medicine and epidemiology/biostatistics at USCF’s Helen Diller Family Comprehensive Cancer Center. She explained: Mammograms can identify a site likely to be cancer, but it requires taking a sample of breast tissue and looking at it under a microscope to know a person has breast cancer. Rarely, less than 1% of the time a radiologist can look at a mammogram and based on the mammogram know a woman has breast cancer, even then it requires a tissue diagnosis for confirmation“. This seems to be a universal truth. In (as I see it) nearly all forms of cancer, confirmation is needed), which is part of the entire issue.

This does not change one essential truth “simply through diagnosing the disease earlier“, that is again a universal truth, so even for that mere fact this project should go on. The issue is not with the idea, or the plan or what we read, but by what we are not reading here.

Part 5 is the first real kicker, giving online to test results is a dangerous step, often cancer will hit the elderly, who do not comprehend the need for proper approach to common cyber sense and as such too many medical details will ends up in the open air, a place where medical details should not be allowed. Now, issue number 2 is one that can be handled, there is no reason why not to do this, yet we must acknowledge that specialists are there for a reason, as such, we can accept that GP’s could call for the test yet, here is also the danger that a GP will act under the ‘better be safe than sorry premise‘ which will now give the situation that 80% more tests are being made, yet it will also include the stronger increase of false alarm results, even under an issue of the best intentions. A mere consequence of people doing the best possible for the patient, an anticipated side effect of ‘world class cancer care‘. I do not object to these parts (or fight the approach here), but it calls into question the given budget already from this point on. So what is expected to be £400m a year, could end up being £520m a year. In addition to issue 4 where we see the need for specialist nurses and radiologists, there will also be the need for additional technicians and re-schooling of technicians and upgrading other peripheral devices. It is possible that these parts had been added to the cart of costs, yet the fact that they are not mentioned, the fact that some parts might not have been looked at yet makes the anticipated £400m a year incorrect and dangerous. The Labour party made a 12 billion IT fiasco, let’s not add to that, shall we?

You see, the cancer confirmation part is not always possible on the spot. So when we accept that ‘Most incisional and excisional biopsies are performed by surgeons‘, we see that additional costs and additional resources will be required. This means that there will be additional pressure on surgeons, was that factored in? You see, there is already a massive backlog. The Guardian reported on July 4th 2014 in the article ‘NHS patients waiting longer for routine operations under coalition‘ (at http://www.theguardian.com/society/2014/jul/04/nhs-patients-waiting-longer-for-routine-operations-under-coalition), that delays had been reported of up to 215 days.

So the entire ‘speed need’ in cancer diagnoses is going to take another matter of growth entirely.

So as I give you these facts and the thoughts around this, you might get a first idea what was wrong with the article by Nick Triggle. I am an ample Medici, but I never studied medicine and it took me roughly 17 seconds to get my question marks up, so why did Nick Triggle not voice these concerns?

The quote by Dr Maureen Baker, of the Royal College of GPs, who welcomed the plans was “The system is already overloaded and we must ensure that there is sufficient imaging and specialist capacity to cope with the increased number of referrals before promises are made to patients that cannot be delivered“. Yet her quote is equally incomplete. I would have expected the quote to be “The system is already overloaded and radiology is only one step in determining the path for a cancer patient. We must ensure that there is growth in several ways in several divisions of hospitals to cope with the increased number of referrals before promises are made to patients that cannot be delivered“, which would have been more correct and as lacking as the quote seems to be from my point of view, I personally would acknowledge that the BBC article could have been used to emphasize on how much work the NHS needs and how much more needs to be done.

None of that can be seen in the article.

It seems to be that the response from Lynda Thomas, chief executive at Macmillan Cancer Support is more on point. Even though it is ambitious, she states “This report has to be more than a set of recommendations on paper. It has to inspire action and lead to meaningful improvements for the lives of people with cancer“. I think that she is playing the game carefully as she wants to get whatever she can for people with cancer, yet the though in my mind is (based on the BBC article) that I would have phrased “This report has to be more than just a set of incomplete recommendations on paper“. That will lead to questions and that will lead to proper dimensioning of a massive problem. I agree that this needs to be done, but without the fact that the pressure for surgeons is already beyond believe (not just in the UK), not addressing this part will lead to another fiasco for NHS, which is what we need to avoid at all costs.

So we are facing a political minefield, one that Labour did not survive, I hope that the conservatives and especially the Rt Hon Jeremy Hunt MP takes more than just a few additional looks at it. And even though he might dread sitting down with a collection of ‘funny and entertaining people’ (like hospital administrators), he will do so and get a proper scope of what will be impacted, because spending another 2 billion only to learn that the term ‘similar savings‘ will never be an option is one he must be willing to accept having to deal with.

There is nothing against spending it on treatment and diagnoses of cancer patients, I just want to make certain that they do not end up becoming the group who ends up with the short straw, a draw they never got a choice in voted for.

 

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July 13, 2015 · 23:16

Wackadoo for a game

The E3 is done, the 2015 San Diego Comic Con is on and I am missing out on all of it this year. Whether it is addiction, compulsion or enslavement. It might be the last one, yet my feelings for Elite: Dangerous are no less than the same feeling I had when I had when the original  on the Commodore 64 was released in 1985. There was one shop who had it on the first day, which meant a 4 hour train ride, two hours there, and two hours nail biting trip back. Yes, it was one hell of a day, but the result was exceeding expectations, the game would be my number one game to play for a very very long time, all because a friend showed it to me on his BBC Micro B one year earlier (1984).

Enslavement is what I have in common with Greece on several levels. Like Greece, I did this to myself, whether my DNA made me desire this videogame more than sex or whether it is just the animation of pretty pictures that move because of my interaction does not matter, it was all me! Now it is so simple to blame David Braben (like calling him ‘Jerry’), but it is me, only me and I very much realize that.

It seems that the press and many others (like Greek Politicians) cannot see that. So I feel miffed when I see ‘The euro ‘family’ has shown it is capable of real cruelty‘ (at http://www.theguardian.com/commentisfree/2015/jul/13/euro-family-angela-merkel-greek-bailout) by Suzanne Moore. In January 30th 2013, I wrote ‘Time for another collapse‘ (at https://lawlordtobe.com/2013/01/30/time-for-another-collapse/). In there I stated “Greece is fighting just about everything from no longer payable debts and unemployment figures to phantoms of their past“, in February 2013 in ‘The Italian menace?‘ I wrote “Politicians are also to blame. For that I would like to mention papers like “Investing in Greece: an Olympic opportunity”. It came from Costas Bakouris in 2001. The thoughts were all fair enough. However, how much came to happen? How much money did come in?” This list goes on and on, I reported on it well over two years ago, no one truly dug into these matters and everyone seems to live by the credo: ‘if Goldman Sachs can hide it and the press does not report on it, it does not exist‘.

Now, the Greek people will get a harsh dose of the consequences of not holding its politicians to account.

Than 22nd January 2014 ‘Cooking the Books?‘ (at https://lawlordtobe.com/2014/01/22/cooking-the-books/), where the quote by Business Week “Europe’s having a bond rally and the PIGS are playing host. Portugal, Ireland, Spain—and even Greece, where Europe’s debt crisis began—are heading back to the bond markets and enjoying their lowest borrowing costs in years, as investors appear reassured that the region’s sickest economies are on the mend” is centre in all this, the part ‘investors appear reassured that the region’s sickest economies are on the mend‘ is the delusion to outrank all other delusions. In all this there is a link of power players promoting one another through unnamed sources. Greece should have known better! And in all this, as I stated before, these power players will sell Greece down the river in a heartbeat, because the fallout of Italy and France would be massively worse (10 times worse). All what we see now is the direct consequence of inaction, inaction for 3 Greek administrations and especially these last 6 months when the Greeks gave faith to what I regard to be a rock star (Varoufakis) and a paper tiger (Tsipras), all this, a mere consequence of inaction.

Was all this inevitable? Yes, personally I believe so, even though I believe that Antonis Samaras was on the right path, yet overall, that path was just prolonging a bad situation that had no long term future path.

In all this the Press is equally to blame, in conjunction with economic forecasters, power players and political whatever you want to call them. They were all about demonising ‘austerity’, it was all about how bad austerity is. The plain, bland and bitter truth is that austerity is nothing more than keeping a proper budget, yet several of the previous parties are ALL ABOUT SPENDING! Which is delusional! Just like I cannot speed up the release of Elite: Dangerous or No Man’s Sky, they cannot write away debts, there will be a consequence.

So when I read “Alexis Tsipras has fought tooth and nail for something resembling the debt restructuring that even the International Monetary Fund acknowledges is needed. The incompetence of a succession of Greek governments and tax evasion within Greece is not in doubt. But the creditors of the euro family knew this as they upped their loans, and must now delude themselves that everything they have done has been for the best” which is nicely written Miss Moore, but the following parts remain an issue “something resembling the debt restructuring” is not even close to a reality unless you keep your spending in order, which has not been done for decades.

It is her last paragraph that bothers me the most “The euro family has been exposed as a loan sharking conglomerate that cares nothing for democracy. This family is abusive. This “bailout”, which will be sold as being a cruel-to-be-kind deal is nothing of the sort. It is simply being cruel to be cruel“, in all this governments are to blame, in all this the press took a back seat to ignore what needed to be done, keep a proper budget, in all this close to ALL EEC nations failed. You see debt, even governmental one needs to be paid back, that part has been ignored for too long. The EEC now has an accumulated debt that is closing in on the size of the US debt. It almost looks like a plan by the banks in global charge to equalise all debts making them in charge of everything. Is that such a large leap? You see the debt only seems to go down in Malta, Czech Republic and Belgium. Belgium is essential because its debt is already too large, but at least they are making a positive change, only them and no one seems bothered about this. As per today they are all bothered with the upcoming consequences, now as Greece has seemingly pulled the bunny out of the hat, we will see changes of another nature, because Marine Le Pen will not let the momentum she can gain from this unanswered issue and as France is down 2.6 trillion, she will now emphasize on the benefit of moving away from the EEC, which heralds future for France, the French product and the all-round future of France. Is she right? I cannot tell as there are a few too many unknown factors here, but beyond Suzanne Moore there is more to see.

For that we need to look at gung-ho go-getter Helena Smith of the Guardian, who writes “It will take years – decades perhaps – for Greeks to get over this crisis. Catastrophe may have been averted, but it comes at the expense of conscious national failure: an overriding recognition that the state formed after the fall of military rule provided 40 years of peace and stability, but has ended in extraordinary ignominy. The promise of unending progress did not occur. Of all the truths that Greeks must now confront, that will be the hardest“, personally she writes well, but the truth is (as I see it), that the Greek issue will take generations, likely 3 of them to get it all under true control, in all this the deadly issue was not changing when it was possible. A hard-line change in 2005 would have made all the difference, now we get the added pain of a decade of spills whilst the economy is down further and more people are unemployed, all factors changing the game.

Helena writes “In return for a third bailout – this time staggered over three years and amounting to €53bn – Greeks essentially have been told to walk through the valley of the shadow of death. And that is the good scenario. The alternative – Grexit – would have bypassed purgatory but taken crisis train passengers straight to hell“, even that is not completely on par. Yes Helena is correct, but what she (validly) abstains from, is the part that is depicted by ‘the valley of the shadow of death‘ is a road of reformation of administrative law, criminal law, taxation law and taxation regulation. In addition there will be pension reformation and consumer taxation. If any of these matters are not initially resolved in 18 months, with this I mean proper reformation design from day 1 (tomorrow), not a collection of empty meetings with governmental paid lunches and dinners.

It will take long working weeks (50 hours plus) to make this happen in 18 months and that draft will be decent enough to truly change the tides. If any of these changes are not done by then (so even if they get all but one done), than the Greeks will only have hell to look forward to, the Purgatory station will not be an option at that point. Changes that if Syriza had seriously started talking and started on changing them, the last week would never have happened. In all this there is one other advice the Greeks need to take home, no matter how proud they are, their survival will now depend on changing their family structure.

Let me explain, as time is now too short for those who have an option, the Greeks have one option left to survive (if at all). Consider a family with grandparents, parents and children. We call them iteration 1, 2 and 3. They need to sit down and see where the lowest debt is. If at all possible, make to all debts the minimum payments then, take every coin they have left and place that on the lowest debt. Do not hide behind pride and time and just pay them all. Get rid of them one by one as fast as possible. Banks will all state that this will not work, but they need these people all enslaved. Create safety by removing the first debt, then the second and so on. As the debts fall away, so does the interest, Greeks need to make momentum and the banks are ALL about longevity. They will twist, spin and make all kinds of brazen projections, but Greece will be in a bad place well beyond 2020. So the Greek people, if possible need to move away from all debt, after that, whomever has shed the debt, they can move forward, they can acquire and grow.

In all this, it will be another Greece, one that has a retirement system which can no longer work in the previous path, there will be a Consumer tax setting that will up the cost of living and the health care system in Greece will remain a matter of nightmares, possible it can only be accessed through the purgatory station the Greeks hopefully avoided, but in all this, taxation laws will have to change at first light, it will also mean that the very wealthy Greeks will move to another place, not unlike Gerard Depardieu. There is no telling where they will end if they want to avoid taxation of that what they avoided for so long and it is equally wrong to speculate how much taxation is due, I lack the pure data on that. What is cause to all is the dire need for the Greeks (and many EEC politicians) to stop spending money they did not have and money they were unlikely to receive. all this is centre to the fall of Greece and it is not over yet because even though Greece when over the edge, France and Italy are right there with Greece (which is why they were so opposed to Grexit) and with these two we face a 5 trillion Euro tumble, 10 times the debt of Greece.

So are we wackadoo for a video game, are we going wackadoo for the game of economics or are we just wackadoo for a totalitarian enabling of banks through debt?

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July 10, 2015 · 21:47

Was it choice?

The guardian had an interesting article today, it is one point of view, but it is a driven point, a point from the view of some. Now, the article makes us ask good questions, it makes us ask the right questions too, but at the heart of the matter is the issue not phrased, what about the value of others? The article ‘When it comes to nudity, Facebook is little different than Victorian England‘ (at http://www.theguardian.com/technology/2015/jul/09/facebook-nudity-policy-censorship-freedom-of-expression) looks into the censorship. You see, censorship is always a tough question, when we consider ‘freedom of expression‘ censorship can creep in. This view might seem odd, but it is a direct confrontation between freedom of speech and accountability of what is being said. When I state ‘Bill Shorten is an idiot!’ The honourable BS might take offense, he might take no offense at all and most likely he will not give a toss what I think regarding him! The man just found out the hard way that Justice Heydon has the ability to make a man feel raw, grilled and roasted all at the same time! You see, we all (including me) all go overboard at times, we say a little more than we thought we needed to say and sometimes we show a little more than is acceptable, at this point censorship comes into play. You see, most men (nearly all) and many women do not care whether the young pretty 1st year university lady does the topless selfie and posts it to show that she is fearless, proud and whatever other emotion she had whilst doing it (like being slightly too intoxicated). Yet, people forget that social media is global, Facebook, Google+ and several other players reach hundreds of nations. Many have democracy and freedom, yet they all have laws and many of them have restrictions on nudity. India with its 1.2 billion people makes up for 16%-18% of the global population and they are just one nation, many other nations have even more strict rules, so places like Facebook, if they want to remain in the game, need to be a lot more strict in their application of ‘allowing nudity’.

Yet, this issue, would not have been an issue if there is a clear and equal cover. When we see “Jay-Marie Hill found that photos she had posted – of San Francisco demonstrations against police killings of unarmed black women that shut down rush hour traffic in the city, no doubt a newsworthy event – had been removed from Facebook because some of the female protesters were topless. Hill sees Facebook’s policies as racist, and “exceptionally forgiving to white bodies over other bodies and life experiences”“, we get another issue all together. However, is that the complete truth or a subjective truth?

The quote “Ultimately, these images were not taken down because we were ‘nude’ but because we challenged a system and made people uncomfortable” is a strong one. So was this about discomfort? That is a problematic question in the world of censorship, because even Facebook realises that in EVERY social media there is a point where someone, or a group can become ‘uncomfortable’. You see, censorship is negatively strengthened by two elements, the first being the people confronted with the question, the second one is the censor with his/her own feelings in all this. The second one will ALWAYS taint the first one, it is a mere fact. If you doubt that than look at the Australian censorship of videogames.

Could I walk up to a woman and state ‘I love you!’ or ‘I want to have sex with you!’? The directness is overwhelming in case one and extremely likely to be regarded as offensive in the second case. Yet, when I change that into ‘Are you interested in having sex with me?’ could be regarded as equally offensive, but why (academically speaking)? Analytically stated, it is a question, this one is likely to get either the answer ‘no’ or ‘NO!’ You see, this is not just about censorship, this is about our inner self, the bulk (99%) of the people are all in an ‘I must not cause a fuss’, which is basically an insincerity filter, which opposes honesty and directness. Even though directness when it is laced with what one might regard as ‘diplomacy’ might be seen as honesty shaded in grey (less than 50 of them).

In my view, when we turn to a life comprised of ‘shades of grey’, we will soon forget the true impact of either black or white, which I regard as a direct detrimental impact on our values. In addition, when we live in ‘grey’ mode, people are forever looking in a paranoid way, if there was something behind the meaning. If you want to test that theory, go to any person that is a mere acquaintance of you or slightly less than that and ask that person to join you for a tea or coffee, you will be amazed on the percentage of people that will assume something behind that request. It is the effect of living through ‘greys’ as I personally see it.

Let’s get back to the article, where we see “Although it’s true that Facebook’s user base is diverse, Facebook is not a “community”. It’s a corporation, and its users are its products – but have no say in how the space is regulated“, which is a very true statement, but seems incomplete. In my view it is “It’s a corporation, and its users are its products – but have no say as the space is mostly managed according to international laws“, you see, we all know that sex sells, so for the most, the more the ‘exposure’ the bigger the flock, yet Facebook must remain mindful of the national laws where the pages arrive (for example India and Muslim nations), because the one thing that social media fears most is the dangers of national bans or even possible prosecutions.

Now we get to the part that is debatable, or even as I see it incorrect: “Here, Facebook is making a distinct choice: rather than enable freedom of expression as the company often claims to do, it is imposing cultural conservatism by claiming that nudity is somehow dangerous. In this, it is little different than Victorian England“. No, I disagree! Facebook (and all social media) need to traverse a restless ocean of laws, where the most stringent one seems to be the one calling the shots. This gives us the issue at hand. The issue in the second degree is not social media, but the poster.

Let’s take a look at the case of ‘Frédéric Durand-Baïssas, who is suing Facebook for €20,000 ($22,000) in damages‘, why? Because his account got cancelled? Is this about the art, or about his ego? Consider that the painting in question can be seen unreservedly (at https://en.wikipedia.org/wiki/L’Origine_du_monde). So instead of Freddy posting the message with a link to the painting on a private website or in another way, we see that he decided to share the picture to a very wide audience. Very wide, because his friends got it, but the friends of those friends would have seen the link too (as it was on the timeline of this friend), which means we now have two degrees of projection. So, why did Freddy not think this through? I have seen loads of photographers sending me a link as Facebook might object to materials. So is all of this a mere storm in a teacup?

It might not be!

Consider the quote: “Men’s nipples are acceptable, but women’s are not. And despite Facebook’s seeming progressiveness toward gender (the platform allows users to self-define their gender), its treatment of transgender bodies is troubling: in one case, a user’s semi-nude photo was taken down and reinstated when they decided the user was a man – despite the user’s physical presentation and personal gender identity“, from a common law view, this could constitute discrimination, making Facebook look even less innocent than they thought they were, yet the overall situation of international laws remains a hot potato, one that seems to work in degrees, which is no help to anyone it seems. Japan is a clear example of the previous (see below)

Yet, is this truly about freedom of speech? So far we have seen a biased presentation of what people want to see, regardless of law. Is that the correct atmosphere to conduct events in? That is partially answered in the last quote “Despite being the main driver of profit for these companies, the user lacks all control over their own content. Even inside a closed network, we are still denied the opportunity to opt out of morality policing. If we want more control over what we can post and see, then we must fight for more control over the platforms we use every day“, it seems to be the simplest part “we must fight for more control over the platforms we use every day”, which is at the core of the issue, but the solution is as I see it quite simple, “we must own the platform we use for the freedom of our speech”, so as you install your own personal webserver, you can be the art evangelist all you want, but that is not what people wanted to do, they just wanted to post the selfie/painting and be done with it, in that path they forgot about the law of the land of the reader.

Yet if you do become a publisher at this point, you must also take heed of what comes next, as the enthusiast that becomes a publisher and cannot hide through an ‘innocent dissemination’ defence. When we take a quick look at the law, we see for example the Anti-Cyber Crime Law (2007) of Saudi Arabia, where Article 6 of this royal decree makes it a crime to produce, possess, distribute, transmit or store Internet content or a computer program that involves gambling, human trafficking, pornography or anything deemed to be against Islam, public morals or public order, which would have put Frédéric Durand-Baïssas in a real amount of trouble if he had uploaded it there. This is the only angle missing and the issue that I have with the article, which is nicely written. You see, Jillian C York is all about freedom of speech, which is fair enough, but global freedom of speech comes at a price, because not all places embrace it and social media needs to be careful where it posts, or soon be blocked from too many places, which would downgrade the social media company in less time than it takes to boil an egg.

So let’s be clear, I personally do not care, and when you see local/international actions like #FreeTheNipple where plenty are on board and most don’t care, but in all this the law is an issue and yes, in many places the law should be massively adjusted, if only to make sure that the baby can get fed. Those protesters should also realise that even though it is all good and fair to fight for the rights and freedom in their nation, not all countries are on board and even nations where there is a democracy and clear freedom of speech (like Japan) some of them still have Draconian laws on frontal nudity, which is an issue many US photographers had to deal with in the past, hence the use of social media becomes a bit of a loaded canon.

So was it about choice or was it on the pure indifference of law towards ‘freedom’ of speech?

It might be a little bit of both, but what is on par at present is that ‘enthusiasts’ who wish to make a name for themselves in social media need to learn that ignorance of the law will hit them square in the face more and more often, after which the clean-up operation (like getting your social media account back) will be another time consuming matter entirely.

 

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July 4, 2015 · 23:13

Ruled by cowards

That was my first thought this morning, the Guardian is full of news, on how Greece “needs up to €60bn (£42bn) of extra funds over the next three years and large-scale debt relief to create “a breathing space” and stabilise the economy“. Really? In all this, no move will be made until after the referendum, but the fact that Greece goes a way they do not like, a 60 billion Euro carrot is thrown into the mix. So as we see that the IMF now reveals a deep split with Europe as it warned that Greece’s debts were “unsustainable”, which we already knew, we see absolutely nothing on the accountability of Greece, its choice of politicians and it taken political policies in the last decade.

Consider the rules at creditcard.com ‘Preteens should learn that borrowing money costs money, and that when you borrow, you make a promise to repay‘, now there are two main reasons why things go wrong, the first is because things change, a person loses his job, a town falls into recession, these are usually temporary issues, and a delay tends to solve matters. Yet when the child has a compulsive buying disorder, that person will have all the toys and all the goodies and no usable credit card. Last there is the group of people who are both in denial and rationalising, this applies to Greece and pretty much the political BULK of the EEC.

They are in denial that they overspent and they are rationalising why it was spent in the first place. Greece being the front runner, because Greece is now in the hot water tub. More important, several players are now stepping on the plate stating things like unsustainable and debt relief, which was a given for a long time, yet NO ONE is holding Greece accountable (at present), for the things they did. It will be pushed towards ‘it was the previous people’ and these people are not to blame. We can allow for both to be truths, yet the current administration has done NOTHING to make serious changes, changes to prevent this from happening from now on. This makes them equally guilty. So as the Guardian published yesterday ‘IMF says Greece needs extra €60bn in funds and debt relief‘ (at http://www.theguardian.com/business/2015/jul/02/imf-greece-needs-extra-50bn-euros) and now follows it up with ‘IMF says no third bailout without debt relief‘ (at http://www.theguardian.com/business/live/2015/jul/02/greek-debt-crisis-athens-creditors-referendum-yes-no-live) yesterday, it seems to me that the people behind the screens are slowly releasing information in an urge to keep the status quo going, the fact that this will hit everyone down the track is not their concern, like former Greek politicians, they will leave it for the next person to solve.

What a tangled web we weave!

Now, we see additional hilarious statements as Yanis Varoufakis starts spinning its tail. With messages like “Europe has taken a “Political decision to shut the banks down” as a way to force Greece to accept a non-viable decision” on Bloomberg. Let’s not forget that the ECB had to give Greece 3.3 billion in emergency cash, making the total of cash through the Emergency Liquidity Assistance (ELA) €68.3bn (£50.3bn) (source: BBC), so this means, that whilst people can only get 60 euro’s a day, and as some source stated “Greek banks down to €500m in cash reserves as economy crashes“, we see that 11 million people could take out 660 million euro’s leaving absolutely no money left in the banks (or ATM’s for that matter), so, how about stating that the banks were closed because Greece had no money left? As a professor of Economy, I would hope that Yanis Varoufakis can use an abacus and calculate the dire situation for himself. Giving us the issue that as a politician he is spinning half-truths as I see it (I do accept that as a politician he had very little options to work with).

You see in all this, my massive issue is not the status this parliament is in, they were handed a really bad hand. It is the utter inaction that propelled this situation into the limelight. So why bash Tsipras and Varoufakis? That is the question I ask myself, because I must look at reasoning in all matters!

I have no hatred or ill feelings towards Greece, I always loved Crete! I have nothing against these politicians as persons (never met them), but their actions call into the light certain elements we must inspect and investigate, even within ourselves, because if we do not do that, we become players in the blame game and there has been way too much of that on many sides of the monopoly table.

Now we look at news with more ‘fearing’ upcoming events of utter negativity ‘Greek economy close to collapse as food and medicine run short‘ (at http://www.theguardian.com/world/2015/jul/03/greece-economy-collapse-close-food-medicine-shortage). First the subtitle “Alexis Tsipras urges people to vote no in Sunday’s referendum as capital controls bite and vital tourism industry sees tens of thousands cancel holidays in Greece“, how interesting as politicians and spokespeople were all about on how tourism was great and how the numbers would continue.

For example ‘The record boom in Greek tourism with more to come, says Tourism Minister Elena Kountoura‘ (at http://www.neomagazine.com/2015/04/greece-has-never-been-sexier-the-record-boom-in-greek-tourism-with-more-to-come-says-tourism-minister-elena-kountoura/), where we see  “All entities that deal with tourism including our ministry and the people of Greece have come together and joined hands so that 2015 will be an even better year. The feedback so far is very positive and we feel very optimistic“. Which is an April 2015 article, in my article of April 22nd, we see the Ekathimerini quotes, where the quote a drop of 50% came from, which I thought was overly pessimistic, it had foundations as Global Travel reported a predicted drop of 40% from the Russian shores. Now we see that Ekathimerini might be getting closer to the mark than we thought. Tourism is an important factor, because it is the first and direct influx of funds to the small business owners all over Greece, with a stated 50,000 tourist’s now changing destination, it becomes a very dangerous time for the Greek economy, when the tourists stay away Greek gets a new level of nightmares to deal with.

Then we see the quote “Greece’s economy is on the brink of collapse after the capital controls imposed ahead of Sunday’s referendum left the country with shortages of food and drugs” as well as “The survival of the Syriza coalition, formed just over five months ago to repudiate five years of austerity programmes, was in doubt as Greece started to suffer shortages of basic provisions, including the sale of vital drugs in pharmacies nationwide” You see, the second one is the problem, it hides another matter, the fact that a generic ‘commercial’ side can no longer survive in the Greek environment. I knew it was going to be bad, but this is showing another matter all entirely, a side many papers left in the shadow of the events. You see, if capital controls brought basic shortages to the surface, what else are the people (not just the Greeks) unaware of?

Consider the quote “Greek islands, where thousands of holidaymakers headed this week, have also been hit, with popular Cycladic destinations such as Mykonos and Santorini reporting shortages of basic foodstuffs. More than half of Greece’s food supplies – and the vast majority of pharmaceuticals – are imported, but with bank transfers now banned, companies are unable to pay suppliers“, and contemplate what capital controls allows for limiting the requirement of food and medication, unless it is done on credit, or done under a condition when currency has dwindled to zero. Of course the situation is not that simple, yet when imposed capital controls (as reported) stops food and medication from reaching the people. If it is a governmental ploy to push for a vote (not entirely impossible) than we can truly state that the game is changing for the Greeks and the power players behind the mirror.

This is given added weight when we consider “The ECB will meet on Monday to decide whether to step up its help to Greece under its emergency liquidity assistance scheme. The head of Greece’s banking association, Louka Katseli, told reporters: “Liquidity is assured until Monday, thereafter it will depend on the ECB decision.”“, so is this part of the fact, or is it another level? You see, if the Emergency liquidity opens the influx of medication and food, we have a nation truly out of cash. This is not a story that makes me happy, it is a sad continuation for a nation of people who have ended up with the short end of the stick for too long and in addition their latest government has done almost nothing to quell the issues that truly needed attention. So as we are now a day away from the referendum, we seem to bulk up question after question, most of them all relate to the referendum and more important, what will the consequence be on Monday?

Monday will be a milestone for the Europeans, not just the Greeks. You see, no matter what, the French and the Italians will be all about securing their borders, securing their financial status, because when we see Mark Carney all over the news with “He said the risk to the banking system in the UK has increased but added that the central bank was ready to take whatever action is required to protect Britain“, yet he also warned that Britain’s exposure to the rest of the Eurozone remained ‘considerable’” (at http://www.thisismoney.co.uk/money/news/article-3146443/Greece-deadlock-risks-UK-financial-stability-warns-Mark-Carney-adds-BoE-ready-action-protect-Britain.html). It is the part that is ignored by many people and a many reporters. You see, no matter what, France and Italy will be all about setting their projected and their presented status.

Yet, it is the French RFI that gives me “Elsewhere in Athens, in a backstreet with graffiti-painted walls not far from Omonia Square, is the Alexander the Great restaurant. Its terrace is full. But not full enough to keep the business running. “We have only 10 tables, down from 30, because the overheads were too high,” says Sodia Blacho, a lawyer who helps her father run the eatery in her spare time. “We are a family business. All our family members help around without being paid. We used to have 10 staff members but now we have only three left. We have to borrow individually some money to invest in the business and to keep it going.”“, this shows a different side. We all know that many restaurants are depending on tourism, but beyond that people have to eat, when places like this falter, is it a combination of issues? Not just the tourists, but what happens when business models fall under the changing conditions of an economy to this extent? I feel certain that there are more places, other places that have a similar issue to deal with. The interesting wisdom that people ignore as they bash a word called austerity, words of wisdom come from Dimitri Sotiropoulos, a senior research fellow with the Eliamep think tank, where we hear “Any type of austerity measures you can think of will be necessary in the next two years for Greece to stand again on its own feet and hopefully this will happen within the Eurozone. If it is going to be No, the prospects of Greece remaining in the Eurozone are very bleak”, the heart of Austerity ignored is a nation (actually pretty much all EEC nations) keeping a proper handle on its budget, when Greece falls, France and Italy become the next players that need to realise that the jig is up, no matter how committed and how up to date their payments are, when Greece falls 11 million people will start looking for any answer, anywhere in Europe to keep them alive and no one will be able to blame them. The news is only overshadowed by an article published today in the Economist (at http://www.economist.com/news/finance-and-economics/21656720-legal-reforms-may-help-chip-away-mountain-non-performing), where we see the quotes “the government last week introduced an emergency decree aimed at unblocking a backlog of bad loans. The hope is that this would allow banks to lend to more deserving companies instead and so boost the economy, which after three years of recession grew by 0.3% in the first quarter“, “This has become especially problematic as the financial crisis has caused the number of companies in distress to soar: annual corporate insolvencies rose from around 6,000 in 2007 to more than 14,000 a year in 2013 and 2014. The result is a mass of impaired loans—€325 billion ($360 billion) as of December“, as well as “Italy’s justice ministry has appointed a commission to come up with plans for a comprehensive overhaul“. This is all emphasised by the subtitle ‘Legal reforms may help chip away at the mountain of non-performing loans‘, nice to see an article to phrase what I have been telling for almost a year. Italy might have options as it is making changes now, not in a year from now when it is possibly too late, with almost 30,000 companies going bankrupt in the last 2 years, this year will be a cruncher for Italy, especially with a contracting economy. All this changes with Greece, with 2.6 trillion in debt, Italy is another player altogether, even though the Italian outlook is nowhere near deadly at present, the Greek situation will push Italy (France too) towards the Abyss, now Europe has two direct options, the first is the four nations banding together (UK, Italy, France and Germany), yet the UK referendum is not sitting well with the other three players and France remains an item too. If President Hollande, President Sergio Mattarella and German Chancellor Angela Merkel set up a triad of economy between Italy, Germany and France, there is an option for limited growth, in that vision the UK becomes a pariah as the referendum talks have been voiced, in all that Hollande has time, but once Marine Le Pen gains too much traction with National Front, his options are over. In all this, those players will drop Greece like a bad habit, because Alexis Tsipras overplayed a really bad hand and he played it badly too. No matter how ‘clever’ some see the acts, those with all the coin behind the mirror will not hesitate to take a bruise regarding Greece if it means keeping the total 5 trillion debt issue from both Italy and France safe, when that goes it all stops for everyone.

No matter how it all goes next, the one change that will fill the minds of the policymakers will be legislation and prosecution, the view on how it filed in Greece is something these two nations cannot live with, through all this the French and British referendums will sound and it will have an impact on all changes that insiders and outsiders would want. When these evolutions remain absent, its population will see to what extent they are ruled by cowards, for the mere simplicity of fact that at present no one will get out of this without skin in the game, Greece was not cause of it, it just brought it to the surface a hell of a lot faster.

 

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July 1, 2015 · 19:06

Dress rehearsal (part 1)

That is the question in my mind, are we in the final preparations of a new theatre play that will change everything? In the Green Room we have the people in preparation of the new mess they are about to bestow on the people of the EEC. A game that changes everything, yet the people behind all of this have a short term solution, because soon they will move out of the seats of power with a golden parachute, a golden umbrella, a golden handshake and a gold watch. They will get the most luxurious life imaginable, only by prolonging the power players. That is the very first thoughts going through my mind when I was looking at the article ‘Greek debt crisis: day of decision for Alexis Tsipras‘ (at http://www.theguardian.com/business/live/2015/jun/30/greek-debt-crisis-day-of-decision-for-tsipras)

When we look at this production in the limelight, we get a few parts, the introduction is all about comedy with the quick comedy play ‘It’s Greece’s problem, says Kremlin‘, yes, as Russia distances himself from that lefty organisation called Syriza that has elements of Marxist–Leninist, Trotskyist and Euro-communist. Must feel really nice for Alexis Tsipras to be the debutante at a Kremlin ball, only to realise he gave away his cherry for naught and got left out in the cold afterwards. Which means that one option he thought he had just left the exit on the left.

The intro act comes from Mariano Rajoy, our Spanish player. The quote ““What would happen if Greece came out of the euro? There would be a negative message that euro membership is reversible,” Rajoy said in a radio interview. “People may think that if one country can leave the euro, others could do so in the future. I think that is the most serious problem that could arise (from a Greek exit).”“, reflects not on Greece, but emphasizes on the danger France is about to pose. The players are comprehending the dangers, the news on Greece is coming from a few direction, but right from the bat, the others are now starting to manage the news any way they can. My reasoning?

Reuters reports: “Greece has not yet made any movement in response to a last-minute bid by creditors to broker a deal to end a deadlock over the Greek debt crisis, the European Commission said on Tuesday. Greek Prime Minister Alexis Tsipras called European Commission President Jean-Claude Juncker on Monday night and Juncker, after speaking to the chair of euro zone finance ministers Jeroen Dijsselbloem, explained what a last-minute deal could look like, Commission spokesman Margaritis Schinas told reporters. “This would require a move from the Greek government which President Juncker asked (for) before midnight last night. As we speak, this move has not yet been received, registered, and time is now narrowing,” Schinas said“.

In addition we see from Reuters:

30-Jun-2015 11:19:20 – EUROPEAN COMMISSION SAYS DOOR OPEN FOR GREEK DEAL, BUT TIME RUNNING OUT QUICKLY
30-Jun-2015 11:20:27 – EUROPEAN COMMISSION SAYS NO MOVE HAS BEEN RECEIVED FROM GREECE
30-Jun-2015 11:21:05 – EUROPEAN COMMISSION SAYS GREEK GOVERMENT WOULD NEED TO ACCEPT PUBLISHED PROPOSAL

In addition we see in the Guardian: “Danuta Huebner, chair of the committee on constitutional affairs at the European Parliament, has tweeted about the legality of Grexit“, she gives the following Tweets “A member state’s exit from #EMU without a parallel withdrawal from the EU, would be legally inconceivable #Greece”

The link refers to a PDF (at the end of the article), where we see in the abstract “that a Member State’s exit from EMU, without a parallel withdrawal from the EU, would be legally inconceivable; and that, while perhaps feasible through indirect means, a Member State’s expulsion from the EU or EMU, would be legally next to impossible. This paper concludes with a reminder that while, institutionally, a Member State’s membership of the euro area would not survive the discontinuation of its membership of the EU, the same need not be true of the former Member State’s use of the euro”

So, if the abstract holds any level of water, have we, the audience been played? Are we the people now being misdirected by missing legislation because politicians could not do their job properly? That is the question, because one EU paper, does not policy make. The introduction gives us “Until recently, to talk of ‘secession’ from the European Union (EU) would have been next to absurd“, really? Did you policy makers remember a man named Adolf Hitler in one corner and Arthur Neville Chamberlain with the Munich agreement in the other corner?

A paper linked to all this by Karolina Boronska-Hryniewiecka called ‘The Risky Game of EMU Withdrawal‘, which is implied to come from the Polish institute of international affairs gives us: “The EC’s statement about the legal “impossibility” of EMU withdrawal stems from the fact that no European treaty has included a provision for how a Member State could leave the single currency area. While Art. 50 of the Lisbon Treaty provides that any Member State may withdraw from the EU on the basis of a negotiated agreement with the EU institutions, it does not mention anything about the possibility of exiting EMU itself. At the same time, Art. 140 Treaty on the Functioning of the European Union (TFEU) provides that the rate at which the former national currencies are substituted by the “euro” for EMU members has been “irrevocably” fixed. What also follows from the EU treaties is that while membership is voluntary, participation in the EMU, apart from certain exceptions, is a legal, if eventual obligation of every EU Member State.”

The links come from Danuta Hübner, Chair of the Committee on Constitutional Affairs, European Parliament. So why did no one properly look into this, or even report on this? I personally expected that the European members of constitutional affairs had their affairs in order, which means that if one local yokel (Alexis Tsipras) cannot get his act in order, there are decent steps that can be taken to either get that person in line, or expel his nation. Now we seem to get introduced that expulsion is not really an option. So in all the theatre plays we watched, it seems that the part, ‘expulsion is impossible‘ was never ever mentioned, was it?

And in addition we get “Reports are mounting that the Greek prime minister has not only accepted a deal but will travel to Brussels, possibly as early as this evening, to discuss it with senior EU officials. The deal, based on reforms proposed by EU commission president Jean-Claude Juncker late last night, is believed to have been rubber stamped at a meeting of senior government official held at the prime minister’s office, the Megaron Maximou, this morning. The German daily, Bild, is also backing up the reports, saying Tsipras has had contact with high ranking EU officials whom he will meet imminently. “The prime minister’s plane is at the ready,” the paper said.”

This all comes from Helena Smith from the Guardian reporting. So, I feel comfortable trusting the source here. So now we have ourselves a fifth act. You see, in my view this is all about opening 7.2 billion if the 1.6 billion get paid. It must be really comfortable for any banker to underwrite a 7 days loan, with a nice percentage knowing that this payment is the first payment out of 7.2 billion. At 1% that banker ends up with a 16 million euro bonus, that is, if it is only one percent.

Yet, is it not me? Am I trivialising things, perhaps even over-dramatizing it?

Consider the next news “Here’s Bloomberg on Schaeuble’s comments: German Finance Minister Wolfgang Schaeuble told lawmakers in Berlin that Greece would stay in the euro for the time being if Greek voters reject austerity in a referendum scheduled this week, according to three people present. Schaeuble also said the European Central Bank would do what’s needed to protect the euro if Greeks voted against the bailout terms in the July 5 referendum, according to the people, all of whom participated in the closed-door meeting on Tuesday. They asked not to be identified, citing the private nature of the discussion. The German Finance Ministry declined to comment.”

Now we have a ballgame. There is also an issue, why do they need to be ‘not identified’? It seems to me that the European Central Bank would need to do what’s needed to protect the euro. Yet, in light of what made the news from Danuta Huebner, chair of the committee on constitutional affairs at the European Parliament, we now need to consider what options are there?

These are important questions to keep in mind. Consider all the news I have brought in the last 6 months through my blog. This is now ‘set’ in the limelight with the Guardian article ‘Alexis Tsipras: Mr Reasonable seizes the initiative from Project Fear’ (at http://www.theguardian.com/business/2015/jun/30/alexis-tsipras-greece-deal-vote-referendum), how misguided is that title? The quote “Faced with Project Fear, Tsipras wants to be seen as Mr Reasonable“, is as misguided as it can. They have not just changed the game, they have left, what should be regarded as criminal activities open to reactivation. (I will get to that part in part 2).

First two quotes “It little mattered that the new blueprint from Athens had a shelf life of only a couple of hours before Angela Merkel said there could be no fresh negotiations until after Greece’s referendum on Sunday” and “Somehow or other, Greece’s debt burden will be reduced. It can happen through a deal in which Athens gets debt relief for economic reform. Or it can came through a default that would swiftly follow Greek exit from the single currency. Everybody knows this, and it is bizarre that an explicit proposal for debt relief was not formally made to Tsipras in last week’s talks”

You see, the game is changing, yet some elements have been ignored and some were never given clarity. So as Greece wants another extension 2 minutes before midnight, as they want another bailout of 30 billion with better terms, the game is now taking another term, one that the people behind the screens cannot contain, in the end, they are cutting their own veins even deeper than Greece ever did, but let me back that up with some facts, because without facts, this all becomes a rant (which anyone can get whilst reading the Telegraph, or an equally disastrous form of news coverage).

The quote “Juncker earlier told Tsipras that a last-minute deal was still possible if Athens agreed to sign up to the creditors’ proposals presented last Friday. He also dangled the prospects of debt relief for Greece and a €35bn “new start for jobs and growth” programme” from the Guardian (at http://www.theguardian.com/world/2015/jun/30/greece-brink-financial-collapse-imf-deadline-hours-away) gives us the salutation I made on May 6th (at https://lawlordtobe.com/2015/05/06/whats-the-matter), where I stated “when the voters learn that Greece is about to desire up to 30 billion before the end of the year, so that it can pay the outstanding bills“, so not only was I right all along, it is possible that the Greeks delayed because of the fear what it would do to the UKIP numbers and subsequently a first serious move away from the EU. Now, not only is Juncker offering 5 billion in addition, it comes with very little extra hardship for the Greeks, especially the previous Greek politicians.

Yet, now, as I mentioned, the game changes. With the migrant issues in Calais, Marine Le Pen is about to take control of another piece of France, which will soon prove to be really bad news for President Hollande. In addition, the quote “In January she asked French President Francois Hollande to suspend the visa-free Schengen Area in Europe and strip dual nationals of their French citizenship if they carry out “barbaric crimes”“, give us an additional change. It is not a given that the changes to Schengen will happen, but if it does, it is clearly in addition a preparation to move France away from the EU. Her statement a week ago clearly indicates the change she wants to impose.

In all this, Greece now stands alone, because the drive on the shores of Brexit and Frexit are now clearly stated in the news, stated by these politicians, which in case of Marine Le Pen is not a good thing for Europe, because unless her demands are met, she will call for an exit from the EEC, not just the Euro, which changes the game by a massive margin. So when I see the quote “but what Tsipras has done is seize the initiative“, it must be stated that it is an incomplete view, because the response from both the UK and France is about to give the world of finance a massive headache, one that will continue for the next 20 months, especially as Marine Le Pen ends up as the next possible leader of France, for which she is currently in the lead, ahead of Sarkozy and Hollande. The laughing whisper two years ago, is now a realistic threat, interesting how so many journalists missed this escalation.

There are more signals, all indicative of one more act on the floors of the theatre.

And the act starts with a gloomy theatre, men and women in black, handing a folder, from person to person, they all look at it for a few seconds and give it to the next person. This goes on and on. Yes, we get to the article ‘IMF: austerity measures would still leave Greece with unsustainable debt‘ (at http://www.theguardian.com/business/2015/jun/30/greek-debt-troika-analysis-says-significant-concessions-still-needed). The story already starts with questionable statements “Greece would face an unsustainable level of debt by 2030 even if it signs up to the full package of tax and spending reforms demanded of it, according to unpublished documents compiled by its three main creditors“, the reason that I call it questionable, is because Greece is what I call a 3G nation, which means it will take three generations for this debt to become close to manageable. So, with that I imply that the debt is still a massive form of pressure in 2061, there is no escaping it. Even with reforms Greece is no longer able to meet the interest payments and the payments after the payment reduction, unless it makes MASSIVE changes to its laws and its social system. This includes holding politicians accountable for overspending, making them prosecutable for criminal negligence if they cannot meet the budget. It is close to the only change that will start stopping the madness. In addition, tax laws need a massive overhaul, one that should be part of the IMF demand before Greece gets one additional eurocent.

By the way, Greece is not alone, Spain, France and Italy are all 3G nations at present. The UK is not that deep yet, but it will take a generation of hardship to get the debt under control.

That (secret) document also states “that under the baseline scenario “significant concessions” are necessary to improve Greece’s chances of ridding itself permanently of its debt financing woes”, is that even a surprise? I figured that out over a year ago, doing the math of my fingers, an Abacus was not required, this is exactly why I opposed Greece to be allowed back on the market selling another 5 billion in bonds. But the power players wanted their commission and as I see it a 100 million euro bonus is just too good to pass up.

So here in short is part one of this story. Certain elements are in play and have been in play for some time. Greece has done next to nothing to clean up its act, its laws and its massive shortcomings. As we see again the voices of many shouting against Austerity, we have to wonder whether people even realise what they are shouting against. You see, austerity is merely keeping a budget, for close to two decades governments have overspend every year, this is how Greece got into this mess, it had spent money that it never had. It is not alone in this pretty much every EEC nation is guilty of this and whilst some are still afloat, Greece is the first one who cannot even commit to the due interest bill, that is at the foundation of this debacle. So austerity is not a punishment, it is not a right, it is a mere responsibility and it has been forfeited by nearly every EEC nation for much too long.

I will give more answers in part 2 of this article, hopefully the day after tomorrow.

Withdrawal and expulsion from the EU and EMU

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June 30, 2015 · 11:33

Lack of vision

It is nice to see something else than the collapse of Greece, ISIS in Tunisia or one or two other things that have covered the front page in the last few days. Although the abuse I got from my statement “Greece is no longer for billionaires, many multi-millionaires can now afford to buy that country” has been hilarious. You see, it is all about vision. I foresaw some of the issues now in play months ago, I can also see the events as some of the status quo players are panicking as they need a solution, or lose a lot more than they bargained for. All that is almost a given. The media is looking at ‘sexy’ articles from economists on how austerity is wrong, but none of them are looking at the accountability a nation has, whilst not keeping its budgets in order is equally hilarious.

You see, the status quo people are all about continuation of THEIR needs.

This all links to the article ‘Twitter to co-founder Jack Dorsey: ‘We don’t want you’‘ (at http://www.theguardian.com/technology/2015/jun/22/twitter-dont-want-jack-dorsey), it is a week old now, but for some reason it had escaped my view. It is a decent article by Alex Hern, not just because of the way he wrote it, but the consideration given in there gives us another view that is the consequence of ‘lack of vision’.

In the article we get the quote “The Committee will only consider candidates for recommendation to the full Board who are in a position to make a full-time commitment to Twitter”. This is an interesting quote to have from a board, especially as Jack Dorsey is one of the co-founders of Twitter. The wiki quote “The first Twitter prototype, developed by Dorsey and contractor Florian Weber” gives us another insight. Jack boy was at the heart of the birth of Twitter and this board is now stating that they rather have a full time commitment person. So as Jack is not the person they want, let’s take a look at the vision that Jack build.

Because of an issue one of Jacks friends had, he came up with another idea in 2008, it founded a company called Square. Even though Square is not doing too well, I personally think that this could be turned around. In my personal view competitors of Square have been having a go at this, because of the threat they feel. Square is a sound idea, I reckon it has a decent future if someone with international Gravitas (read: massive brass balls/boobs) gets involved. Even though Business insider has been a little too kind on Jack Dorsey (comparing him to Steve Jobs is a little bit of a stretch), it is clear that this man has vision.

In my view the quote “According to Nick Bilton, author of Hatching Twitter, that first ouster came because he didn’t spend enough time in the office, leaving work “around 6pm for drawing classes, hot yoga sessions and a course at a local fashion school”. “You can either be a dressmaker or the CEO of Twitter,” the company’s co-founder and Dorsey’s successor as chief executive, Evan Williams, reportedly told him, “but you can’t be both.””

On one side there is the idea that the speaker has a point, the other part is that the speaker needs to be a civil servant and not much more. This would reflect on Peter Currie, the chair of the committee, it seems that he was, or he knows where that quote came from, whilst he is identifying a permanent CEO, he seems to be missing the point. Being a 60 hours a week workaholic does not make the quality of work better. It just gives you grey hairs a lot faster, without the benefit of yummy moments whilst they changed colour.

You see, Jack Dorsey is one of those people who needs the additional things like hot yoga and additional fashion lessons because his next idea could be just one course away. One simple conversation, an interaction with for example a nurse trying to fathom the hammock for her little girl and jack could suddenly get that next golden idea, which is likely to benefit both Square and Twitter. For those board members (read: Evan Williams), let’s not forget that some people get their golden idea’s in other ways. It seems to me that from what I have seen, Jack Dorsey and Evan Williams are opposites to a larger extent. If Jack Dorsey is seen as another Steve Jobs, than Evan Williams should be seen as the next Bill Gates. They are totally opposite and whilst the board is trying to figure out which alpha designer they should side with, it might not be a bad idea to find a way to make it work with both. Having two visionaries in your flock is beyond extremely rare. I personally side with the Jack Dorsey’s. I have no business pattern no set discipline, other than my dedication to get the job done. Beyond that my mind wanders on other venues, trying to solve that next puzzle. In that view I saw that hiring specific people for Square could solve their customer service part. Consider the quote from Gigaom (at https://gigaom.com/2009/12/01/jack-dorsey-on-square-why-it-is-disruptive/) “My view is that Square (or something like Square) is going to disrupt the businesses of companies such as VeriFone and Symbol, a division of Motorola that makes point-of-sale devices. Verifone makes a $900 wireless credit card terminal vs. Square, which runs on a $299 iPod touch“.  Yes, this 2009 quote is industrious in shape, size and concern. Whilst places like Verifone are sitting on a business model that does work, Square revolutionised the idea overnight, basically, small business owners would have a tread stone of growth whilst avoiding all kinds of initial investments. Square is that golden idea the interaction of technology and innovation. That is at the heart of vision, how to make it all work differently!

What will be the next vision?

Consider these quotes: ‘People Want Safe Communications, Not Usable Cryptography‘ and ‘76 percent of consumers were not very satisfied with technology’s ability to make their lives simpler‘. There is a market, its consumer base is greying and they need a simpler solution that gives them access without heartburn of an instant stroke after a dozen error messages. The need for simple interface software, but with a range of options is a desire for literally the young and the old. The young because they don’t comprehend, the old because they don’t want the hassle. In all this, markets that are reason for powerful growth and Twitter is in the thick of it. Which means having both Jack Dorsey and Evan Williams is a good thing. If the G-spot of financial advisors is a growing customer base, than the revolution of both Jack Dorsey and Evan Williams, could spell an age of loads of financial orgasms, so as we cater to an evolving mass of people, one cannot have too many visionaries in one building. In all this there is the hardware that changes and the software that grows, whilst the media remains hungry. In all this, vision is the key to unlocking the universe where we live in.

So when we see the quote “Project Lightning is one: the new feature sees Twitter taking an active editorial role during live events, seeking out the best content both on and off the network and embedding it in a dedicated section of the social network’s app“, with the mentioned similarity to Snapchat’s Live Stories, we have to consider that Twitter is now entering an iterative state where it follows ‘other peoples visions‘ to grow its base, in all this I state that catering to the eccentricities of both Jack Dorsey and Evan Williams might be the solution to come up with something new, making Snapchat follow the new Twitter ideas, not the other way round.

So in this we see the need for vision, not to applaud the lack of it.

This we see in the article ‘How same-sex marriage could ruin civilisation’ (at http://www.theguardian.com/science/brain-flapping/2015/jun/29/same-sex-marriage-ruin-civilisation-science), please do not worry, there is a link in all this!

Let me start saying that as a Christian, I do not care! I think any person should find the happiness that they feel they deserve, if that is in a same gender relationship, than that is just fine with me. Finding happiness is already rare enough, having it denied is just utterly counterproductive. You see, someone Facebooked Leviticus 20:13 the other day “If there is a man who lies with a male, he should be stoned“, the fact that the US legalised marijuana the same time it legalised gay marriage is just slightly hilarious when you consider Leviticus. It is all about looking differently at things.

Which is not the view the Guardian article had by the way. Now we get the quotes “Constant exposure to rainbows could mean people can’t see colours as well, and this could be disastrous. How will they know when to stop or go at a traffic light? Or which wire to cut when defusing a bomb?“, which some would call ludicrous, because we can always appreciate colours, only the colour-blind have a predicament, so they will not pass military service requirement, which means they will never defuse a bomb, as for the traffic lights, they can see when the top, the middle of the bottom light is on, which means there is no impact on that either, a science article loaded with half-baked truths and inconsequential arguments. This is how we should see some boards of directors. Their fear of requiring a status quo is now possibly hindering progress.

We need to move forward by innovation, by doing something different, because stimulating the brain is the cornerstone of innovation. For people like Evan Williams, it seems to be narrowly focussing on something related, which is fair enough, for some people that makes a difference, for people like Steve Jobs and Jack Dorsey it is to get exposed to a field of events as wide as possible. It is not entirely unlikely that Jack will attend a course in Biomathematics only to come up with a new biometrics concept that will ensure data security for the next generation. All missed because a board of directors has an issue with what they called ‘dress making’.

You see, I find their stance slightly offensive, it is for that same reason I have been so harsh on Ubisoft. After it made its billion, it moved deeper into business models, which is a bad thought, I understand it from a business point of view, yet consider that video games are art. A business model will decrease the chance of failure, yet in my view it equally destroys the option of ‘exceptional’, the line between ‘genius’ and ‘murky’ is pretty thin. I listened for too long to corporate short-sightedness only to realise too late that they were clueless to begin with. People fixed on PowerPoint presentation de-evolving from ‘status quo’ to ‘getting by’.

And my evidence? Ubisoft has not produced any revolutionary game with a 90% plus rating (truly revolutionary games, not what their marketing calls revolutionary) for some time. The next evolution in games is mostly coming from the independent scene, those pushing forward on their own, remoulding a view and bringing true originality. Examples of this view is Mojang (Minecraft), Campo Santo (Firewatch), The Chinese Room (Everybody’s Gone to the Rapture) and Hello Games (No Man’s Sky), there are more, the larger players have been slacking in titles and in quality of games. They forgot to take a leap of faith, whilst relying on business models.

We see this more and more, considering that Elder Scrolls online has had massive delays, than the PS4 community gets “it’s even worse considering some cannot play on the games release date“, which is after a year delay. I came up with a sequel to Skyrim early 2014, no online, no multiplayer, just an option to make millions of gamers happy. It took me three hours to get the first idea, a few more hours to put part of this to paper. In addition, I randomly designed a new game in my head, no business model can correct for this. Is that it? No, I came up with a new concept for the game developing of RPG games. It remains in my head because I am a decent database programmer (as well as data cleaner and so on), but I am not really a programmer, which gives me a slight disadvantage. I will work it out sooner or later (likely later as I am finishing a law degree).

So I feel for Jack Dorsey and I am on his side. In the end, Jack will come up with another golden idea which will bring him millions, I hope he does that. That board of directors is another matter, these people seem to get the quorum to hold on to status quo and they will also have a person to blame when issues go south. This is at the core of my resentment of ‘the business model’ in the field of creation. It depends on what was and cannot truly value that what has not been made yet.

It is a lack of vision that drives us into extinction, not time. Because time makes us old, vision makes us wise.

 

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June 25, 2015 · 22:15

Hunting facts

We can go on about Greece (which is again in crises), we can look at video games (like how the QA of Arkham Knight got effed up), but for now all interesting news has been said and there are a few British political events starting, but what some of you all forgot about was FIFA. When I look into the Guardian and seek the sports page (online) I see three times the mention of FIFA, only one has a video regarding the money-laundering inquiry. The interesting part is that the term ‘bribes’ is now replaced with ‘money laundering’. In that view the following document is rather interesting https://www.sentencingcouncil.org.uk/wp-content/uploads/Fraud_bribery_and_money_laundering_offences_-_Definitive_guideline.pdf.

You see, Money Laundering is a rather harsher part in all this. For that we need to take a look at a few crimes acts, specifically the Proceeds of Crime Act 2002 (not today though).

And as I go through it with a few giggles, it seems to me that all this is not good for Jack Warner, even though he ‘threatened’ to reveal an ‘avalanche’ of secrets, he could end up looking at his luxurious stay in Hotel Sing Sing for a lot longer, than he would if convicted for bribery, in addition the accusation of him redirecting financial aid for the Haiti victims (from several newspapers) could make matters even worse for him.

This came from the Guardian with the title ‘Jack Warner fears for his life and will reveal ‘avalanche’ of secrets‘, yet so far, no revelations of any kind, or none that ended up in the hands of the press at present. This is the interesting part, if we go by the Jamaica observer who reported only 2 days ago: “but up to Thursday, the Office of the Attorney General had not received any request for Warner to be extradited to the United States, where he is wanted on wire fraud, racketeering and money laundering charges“, is that not peculiar? Technically it is not, extradition, means the start of a trial, and as such, Jack Warner is too visible, there is no place he can run to (as I see it). In addition, setting up a trial of this magnitude will take some time. However, the initial indictment that I published in ‘Condoning corruption!‘, (at https://lawlordtobe.com/2015/05/29/condoning-corruption/) almost a month ago, should clearly put him at the top, as the star player in all this. In addition there is (at http://www.theguardian.com/football/2015/jun/10/john-oliver-trinidad-television-mock-jack-warner-fifa), where you can see the comedian telling the same things I told , but his comical approach is one that is not to be missed!

So why the long silence?

Well, that is the interesting part. There was no silence, when we look at the Guardian in Trinidad (at http://www.guardian.co.tt/news/2015-06-23/warner-integrity-commission-has-tapes), we see the headline ‘Warner: Integrity Commission has tapes‘, yet, I have at times doubted the duty of many newspapers all over the place, especially when it is owned by a member of the Murdoch family. Still is it not extremely interesting how many large newspapers have not picked up this news? I would think that the news of audio tapes, FIFA members and bribery would be the stuff of legends for papers like the LA Times, the NY Times, or even the Washington Post, yet none of them had picked up the Breaking news, or should it be broken news? The Washington Post did however pick up the response to John Oliver from Jack Warner (at http://www.washingtonpost.com/blogs/early-lead/wp/2015/06/12/composer-says-jack-warner-stole-his-music-for-video-directed-at-john-oliver/), especially as Jack Warner is also under fire from the composer, whose music he used to drown out his own voice from 1:13 to 2:20. Anyway, his response to the comedian was given on the 12th of June, the Washington Post possible regarded this as light entertainment (with Greg Dombrowski who is at present the only one who is not amused). After that the Washington Post has nothing. So was it breaking or broken news? I do not know. I have not heard the tapes, yet neither had any of the other news outlets as far as I can tell, so if Jack Warner is bringing evidence out, why ignore it? A half-baked news moment on the ‘MH370 suicide mission’ gets picked up with what was called a ‘reliable source’ by those working for the Barclay Brothers, yet no one is touching the Warner Tapes.

I am quite happy to see Jack Warner Fry for all of this, but the man is entitled to a defence, when the press steers clear to this amount, who are they actually listening to? What is the audience not getting informed on and where are the FIFA puppeteers? Let’s not forget that the full report from Michael Garcia is still being kept locked away. The entire FIFA debacle has people running for the hills and there is a decent indication that the press is aiding some of them by not illuminating the issues at play.

Yet, we must also look beyond Jack Warner, which gets us to CONMEBOL. It is forced to pay 10 million out of its own funds. When we look at http://www.espnfc.com/fifa-world-cup/story/2502646/conmebol-facing-cash-flow-crisis-due-to-fifa-bribery-scandal, we get the following facts:

  • Sponsors have been asked to pay Conmebol directly
  • Datisa had only paid Conmebol 35 out of the 80 million, which means it is all short by 4,500,000,000 centavos.

It becomes a little weirder (possibly due to missing facts), when we consider the quote by Bloomberg: “head of international business for Brazil-based sports marketing firm Traffic Group (Jochen Loesch), one of the companies that make up Datisa. Traffic founder Jose Hawilla, 71, pleaded guilty in federal court in Brooklyn to racketeering conspiracy, wire fraud conspiracy, money laundering conspiracy and obstruction of justice. He agreed to forfeit $151 million“, so if he forfeits THAT MUCH, what else did he stuff into ‘a’ matrass? By the way, I had a decent income for a few decades, yet summed up, over my whole working life, pre taxation, I will have made less than 1% of what Hawilla is forfeiting in this event; crime has become THAT rewarding!

Of course, we seem to focus on FIFA alone, yet, when we look at the Boston Globe, we see the indirect fallout, which makes the lashing the FIFA executives a lot more essential. When we read the article ‘FIFA scandal may affect Boston’s 2024 bid‘ (at https://www.bostonglobe.com/sports/2015/06/24/fifa-scandal-grows-could-affect-boston-bid/AasXsCJZobZTayvfb06obP/story.html). My issue is not with the article in the Boston Globe, it was with a quote in the Chicago Tribune “Because next Tuesday, if the U.S. Olympic Committee has come to its senses, its board of directors will wisely choose at a regularly scheduled meeting to pull a doomed Boston bid that has been a disaster from the start“. Two parts, one is the question, why it was doomed? That is an actual question, there is no direct answer in my view. The second is that the Olympic committee could, ‘wake up’ is the incorrect term, I do not think that the Olympic Committee is asleep, I mean that they need to refocus their current vision. What could be the problem is the location of the games. You see, no matter how all this goes, the 2024 Olympics will be 2 years AFTER Qatar, actually, due to rescheduling, less than 18 months, which means that there will be all kinds of issues all over Europe (a reeling UEFA after a drenched timeline as part of the 2022 soccer competition will be all over the place is one), the second one is French politics. At this point it is still extremely likely that National Front end up in a new location, when Marine Le Pen moves to 55, Rue du Faubourg Saint-Honoré, Paris, with the French in a massive wave moving towards European segregation, keeping the Olympics on the US side of the Atlantic river might not be the worst idea. Although, if the American administration does not clean up its tax act, it will be bankrupt making the entire exercise slightly exotic to say the least. If there is one essential part we need to consider in all this, then I would state that the Stability of the Olympics need to be assured, apart from that having them in the US after 28 years is not a bad way to go. With all the troubles Europe is still to face, especially with Greece messing up the European economy (the makers of the Olympics of all things), both Paris and Rome could end up in such a bad state that only Hamburg and Budapest remain a realistic location, considering Boston for the games of 2024 is definitely in my books at present.

So how did I get from FIFA to the Olympics?

That we do get from the Boston Globe, where we see “While longtime FIFA president Sepp Blatter, who has said he’ll resign possibly by year’s end, has not yet been indicted, he is said to be a target of the investigation. Blatter also happens to be an IOC member, which comes with the job of heading one of the planet’s biggest sports, such as track and field, swimming, basketball, and skating“, which is generic information. The second quote has the gem: “If Blatter is indicted, he’d obviously have to resign from the IOC. The question is, will the Justice Department stop with soccer or will it broaden its inquiry to other federations where payoffs likely have been made over the years? And since at least 17 present or honorary IOC members are current or former federation heads, will they have a strong incentive not to vote for Boston for the 2024 Summer Games, lest they be taken into custody upon arrival at Logan“, you see, the quote “at least 17 present or honorary IOC members are current or former federation heads” in that same article is linked to all this. Now, there is absolutely ZERO indication that these members have done anything wrong, but a massive amount of them are Europeans and this FIFA spectacle will grow and touch (read: smear) many European nations, at which point the media, will go on a rampage like hungry rats, ripping whatever they can for the prospect of ‘circulation’, getting the 2024 Olympics out of Europe that time around might be something to seriously consider. As viewers watch matches of all Olympic events, whilst games are overshadowed by all kinds of ‘speculative revelations’ by unnamed sources in newspapers, it would be good to have the Olympic games in a time zone several hours away, so that the games can remain centre in all of this. Is that such a stretch? In addition, all those close friends of Sepp Blatter in the IOC would also benefit from a time zone isolation of what will still be reeling at that point in Europe.

So, I will happily oppose Philip Hersh of the Chicago Tribune regarding “a doomed Boston bid that has been a disaster from the start“, I am not convinced, moreover, defaulting the Olympics to Boston could be the best thing. I’ll be fair, Canada might have been better, but they pulled beforehand, which gives us “Toronto’s Economic development Committee voted against bidding for the 2024 games on 20 January, citing a bid would cost the city $50 to 60 million” (Source Wiki), why does a bid cost them that much? I never really looked into that part of Olympic biddings, so the costs in that are equally disturbing, but that is for another day.

Anyway, if Toronto has an issue with 50 million (which is a truckload of cash) having them in the ground of a few billion might not be a good idea. Sydney had its Olympics in 2000, which is way too recent, from that logic I state, let Boston be the default!

Back to FIFA!

We learn today, via SBS (at http://www.sbs.com.au/news/article/2015/06/25/two-argentines-sought-us-fifa-scandal-put-under-house-arrest), that the extradition proceedings are happening and they seem to be accelerating. With guilty pleas in the bag from other members, the options for Hugo and Mariano Jinkis are dwindling down fast. Federal judge Claudio Bonadio rejected their release saying they presented a flight risk given their personal wealth, adding that until last week they had both been fugitives. Their bail which was set at $1.2 million for the both of them might be regarded as a laughing matter when we consider the 151 million Jose Hawilla forfeited, so how much funds do the Jinkis have? Perhaps an electronic tag is for them a mere inconvenience should they decide to move to a nation that will not extradite to either Argentina or the US; I am just phrasing a question here!

So as we hunt facts regarding the FIFA members involved, how come the news on the Trinidad and Tobago Guardian was not picked up anywhere internationally? That is the issue we started with, a question not answered and unlikely to get answered any day soon. There is one more part to consider, it is a part every FIFA executive fears, because with Football (read soccer) is such disarray from the FIFA point, why are the nations involved not inviting UEFA to ascertain in what depth of trouble their local sport is in? Any political move to ignore this can be countered in this as unofficial knowledge of bribes and corruption went unanswered for over a decade, we only need to look at the work of investigative journalist Andrew Jennings to see that the problem is truly Titanic in size. The added fact that one person walked away with $151 million is proof further still.  It should feel pretty comfortable for Michel Platini to see UEFA in a consideration to clean up Football. In all this, there needs to be transparency and visibility. Although I was never much of a soccer fan, to me it feels important that in all this both members of the IOC and soccer members like Michel Platini, Jean-Pierre Papin, Johan Cruyff, Marco van Basten, Alan Shearer, David Beckham and Jürgen Klinsmann to seriously sit down and see how FIFA can truly be cleaned up. I personally have zero trust in Sepp Blatter doing anything else than cover his hide at present, because when anyone sitting at the helm remaining THIS unaware of bribery and corruption for such a long time is on all fronts the wrong person to sanitise that system. I would like to add that such an investigation should be headed by three members of Royalty. Soccer is such too strong influence in Europe, to be handed to people loving the limelight for personal reasons. In this I would nominate Crown Prince Frederik of Denmark, King Willem-Alexander of Orange from The Netherlands and Princess Anne from the United Kingdom. It will requires officials and renowned players with managerial knowledge to take a harsh look at all this, having this headed by three members who have lived a life beyond reproach is equally important.

So in the end, consider that in all this, when we look from a distance, you should be appalled on how an organisation so influential in national events on a global scale is given a level of leeway that even the most powerful organised crime organisation could never ever hope for is just too unsettling. And in all this, it is all preparation, the support acts have not started yet and the main event is some time away. It is time to make a massive change and the sooner such actions begin, the better for all those passionate about sports involved.

 

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June 22, 2015 · 23:57

The News shows its limit of English

It was Sky News that showed a dangerous escalation as per next year if the Conservatives do not change certain parts of their immigration plan. Even though this is now all over the news, the BBC reported this in Feb 2012, it is only that this administration will now be confronted with it. So could this government have made such a blunder?

It is the Guardian that produced the most disturbing quote (at http://www.theguardian.com/society/2015/jun/22/new-immigration-rules-cost-nhs-millions-nursing), stating “Employers have had since 2011 to prepare for the possibility their non-EEA workers may not meet the required salary threshold to remain in the UK permanently.”, as I see it, that quote boils down to “You have 4 years to get rid of them, or get them nationalised“, which is saying a bit much!

Yet, when I look at the immigration rules appendix i (final) i see the following at section 245HF

At (d)(ii)(1) it states:

(1) At or above the appropriate rate for the job, as stated in the Codes of Practice in Appendix J, or

After which we get the 35,000 pound issue, so when we look at appendix J (at https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/420539/20150406_immigration_rules_appendix_j_final.pdf) we see the following: on page 18 and 19 we see category 2231 Nurses (the appendices are attached to the story).

So the question becomes, what were the papers making noise about? Sky News, the Guardian, Daily Mail, et al. Is it me, or are they just starting a needless panic?

Section I (at https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/420536/20150406_immigration_rules_appendix_i_final.pdf) states: “Pay requirements which the Secretary of State intends to apply to applications for indefinite leave to remain from Tier 2 (General) and Tier 2 (Sportspersons) migrants made on or after 6 April 2016”

Then on page 2 we clearly see the issues reported.

Let’s go by the booklet:

  • First (a) no unspent convictions (so no criminals, makes sense….yes?)
  • Second (b) no general grounds for refusal and no illegal entrant (again, makes perfect sense)
  • Third (c) have spent 5 years lawfully in the UK, which was always a requirement, and in any combination of the following:
    As a tier one migrant, excluding the Post Study work, or the Graduate entrepreneur.
    As a tier 2 migrant (general migrant); the bulk of all nurses will be a tier 2 migrant.
  • Then this person also needs a letter from the sponsor (their boss) that they still require the applicant (basically that this person has a job, which as a nurse is pretty much a given).
  • In addition to this that the applying migrant is paid at or above the Codes of Practice in Appendix J, which gets us to the other appendix (J) which clearly states that a nurse does not need to make 35,000 pounds.

So can anyone tell me why these papers were not read correctly by the writers of the stories (or their editors for that matter)?

The paper clearly indicates that this is the situation with all nurses for 2016. So why are these publications stirring panic amongst the nurses?

Perhaps the journalists are not British citizens and they failed provision 245HF (f), where it states: “The applicant must have sufficient knowledge of the English language”

OK, that was a mean statement to make, but in this day and age where doctors and nurses are nervous enough, adding silly levels of stress are just a little bit too silly for words in my slightly less humble opinion (just for today).

On the other hand, if there are new revisions and I was unaware of them (basically I had not found them at the GOV.UK site), I will be eating humble pie and upgrading this story as soon as I am aware of it.

20150406_immigration_rules_appendix_i_final

20150406_immigration_rules_appendix_j_final

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June 22, 2015 · 20:01

Upping the ante!

It seems that the play, that I feared for is now becoming the play that the power players seem to relish. This is no longer about Greece or the Greeks, you see, as I have shown and stated on several occasions, this is about the status quo, and the fallout that will follow will be one that shows the end of many ways of life in Europe.

This is in part about the article ‘Creditors offer Greece six-month bailout reprieve as Tsipras weighs response‘ (at http://www.theguardian.com/world/2015/jun/21/greece-crisis-creditors-aim-deal-six-month-rescue-extension), we see the photo with the annotation ‘The Greek prime minister, Alexis Tsipras, arrives at this office in Athens on Saturday. His key demand is that the creditors offer debt relief to Greece‘. Here we see the use of media, as we see another theatrical pose by Alexis Tsipras, we see the caption that is now more an annotation. The illustrative explanation that now makes way for a presentational mark-up.

There is a huge difference and many people are in a place where they can no longer see the difference.

You see, it is no longer about the Greek people, the creditors never cared and the politicians involved for the most did not care either. You give me a clear example where adding debt was for the benefit of the people and I will introduce you to a liar, because the bills must be paid! Whatever forecast the Greeks are offered now, it will be almost certainly be downgraded after a respectable time of misrepresentation and managed bad news, you know after a sudden error or overoptimistic forecast could not be met. That is how I clearly see it!

The quote “extending its bailout by six months and supplying up to €18bn (£12.9bn) in rescue funds” is not about rescue, it is presented as rescue, but it is about paying bills that Greece can no longer pay. It takes care of the bills, the outstanding payments due and less than 6 months of interest payments. In 6 months this starts all over again, whilst the total debt goes up by almost 4%. Added to this is the quote “a breakthrough hinged on a positive response from the Greek prime minister, Alexis Tsipras“, so whilst no concession was made in 6 months, one confirmation, whilst no official plans have been agreed upon will allows the involved players to continue, as they reap the rewards, walk away and leave the next person with an even bigger mess to solve, that is, whilst we see that at present payments are no longer a reality.

You see, in the larger scheme of things, there is a massive upside, the American players involved are not too bright as I see it, they think ‘short term’, with their focus often on personal gain (read: bonus) and personal options (read: their next career step) as they leave the legacy to whomever comes next. It is not the same as the 2004 events, but the consequence will be a lot higher.

As I see it, this act is now enabling UKIP and National Front at the centre stage to illuminate how these short term vultures are totally irresponsible and the rest of the EEC will have to pay in six months’ time (if the reprieve goes through). The run to these two parties is likely to grow almost exponentially. If the UK will call the referendum sooner, the call for breaking with the EU might become overwhelming. The push in France will grow a lot stronger at this point too. That part I had illuminated before, now consider the BBC article ‘France polls: A step closer to power for the National Front?‘ from March 21st. “Polls suggest that the party’s leader Marine Le Pen is likely to reach the second round of presidential elections here in two years’ time. She’s not predicted to win, but even so, it is a striking result for a party that currently controls just 11 towns in France“, that danger, makes the involvement of President Hollande from the quote “Negotiations were continuing on Sunday night, hours ahead of crucial gatherings of Eurozone finance ministers and leaders in Brussels, which Angela Merkel, the German chancellor, François Hollande, the French president, and Tsipras are expected to attend“, his support, also means that if Tsipras breaks (or changes) any given word now, whatever ‘change’ is pushed for in 6 months will hit the French unbalanced powerbase even harder.

You see, the pushers for the status quo are outside of these discussion groups, it is clear that someone from the US (likely Jack Law) has voiced concerns in resolving this, the problem is that the US is (as I see it) bankrupt and those behind it will get paid no matter what, especially as these funds will be used to pay those involved, which means an even stronger movement away from regaining balance. In all this, the Greek population will get to live with the consequences, not the power players behind the screens and likely not the political groups involved. So, as we see “The crisis meeting was convened in an attempt to ease Greece’s debt crisis before a critical €1.6bn payment to the International Monetary Fund falls due next Tuesday“, they are now setting to add 10 times that amount, added to the debt, in addition to the added funds pushed, after we saw the bank run fuelling a quicker setting to the Greek nation’s insolvency.

As we look at the subtitle ‘include up to €18bn in rescue funds, and later debt relief‘, yes it is set against concessions, but how are they enforced or monitored? The later debt relief will no doubt be almost twice the initial payment, which gives Greece up to one more year, but that push for status quo whilst there is no true evidence whatsoever that the economy will go strongly positive makes this a rather risky investment and it is not unrealistic that the Greek population will end up paying for it in several ways.

You see, it does not matter what President Hollande thinks now, he will get what he can and retire somewhere else, the problem will be National Front and Marine Le Pen, who can now (if the Greeks go overboard) make a pointed finger to the EEC, to Greece and to Jean-Claude Juncker stating ‘they have spent your money!‘ What do you think will happen next? In addition, this could start a debate in the UK whether the UK referendum ends up getting pushed forward, still likely in 2016, but now a Q2 or even a Q1 date, which is not that unlikely. In this as the Conservatives are contemplating what to do, UKIP can push its visibility, which gives way to the concern that a minor party can now influence a majority leading party. It is not a given, but it is becoming more and more likely. So as we will soon see economic threats from banks and other players stating ‘beware if you leave the EEC‘, they seem to forget that the voters have had enough, many are living on or below the poverty line and they are extremely unhappy to see Greece walk away yet again, not being held accountable for their irresponsible acts, whilst these voters cannot make ends meet. It drives Marine Le Pen forward and it will have an effect in the UK too.

The short term players do not seem to care, as they are focussed on their little needs, but what comes after is not easily stopped, and this 11th hour half-baked Greek solution will come with a terrible second invoice. How likely is all this?

There is a part that remains an unknown to all involved (including me), the fact on how powerful the status quo players are and on how these issues are brought to light. They will influence the game that is going on, but in all this, one part is in clarity, as I see it, none of the players have the welfare of the Greek people in mind, which I consider the most disturbing part of all.

Now we see the new headline ‘Greek debt crisis: Tsipras concessions welcomed as ‘good basis for progress’‘ (at http://www.theguardian.com/world/2015/jun/22/greek-debt-crisis-tsipras-offer-is-welcomed-as-good-basis-for-progress). The question becomes, what exactly are the concessions. The first indicator is “Negotiators are promising debt relief for Greece, which has seen its economy shrink by one quarter since the crisis began, but officials have stressed that a breakthrough will depend on a positive response from the Greek prime minister“, now, I have no issue with debt relief perse, but who gets this write off? In the end, who gets to pay for the loss of debt? You see if Greece does not have to pay it back (which is fine by me), who has to front the money? As long as this is not reflected on the taxation of the people (read the banks pay for these out of their own profits), than it is all fine by me.

The second issue is the one I discussed earlier. “Greece’s international creditors are looking at a deal that would extend the country’s bailout by six months and supply up to €18bn (£12.9bn) in rescue funds“, again, fine by me, but this additional debt is for a large portion about paying debts and interest, whilst the foundation of the debt rises again, how is this ever a solution?

So as we see the quotes: “In Athens itself, more than 7,000 people took to the streets for the second time this week to protest austerity with banners reading “A different Europe with Tsipras” and “You can’t blackmail the people, the country is not for sale”“, the question becomes, why do the Greeks not realise that their own politicians sold Greece from under their feet? The debts had been spend by Greece and arranged by Greek politicians.

And the final quote proves that I was right all along: “Louka Katseli, the chief of the National Bank of Greece, told BBC radio: “To enter into such uncharted waters and take up all the risk both for the Eurozone and for Greece for two or three billion [euros] difference, I think it’s insane.””

You see, they were not playing ball because they knew that the predicament for France and Italy would be almost unbearable, and here we also see, what I would call a clear lie by the National Bank of Greece, Louka Katseli. He states ‘the risk both for the Eurozone and for Greece for two or three billion [euros] difference‘, no Louka! It is not for two or three billion, it will be for the additional thirty billion that Greece needs, the raising of the debt ceiling (again), the €7.2 billion, the €10.9bn, which got classified (and booked) as recapitalisation, and this will not last past December, it could even be harder. You see, Ekathimerini reports (at http://ekathimerini.com/4dcgi/_w_articles_wsite2_1_28/12/2014_545761) states a holiday bookings drop of 50%, which is massive! Now, even I have some debate on how correct those numbers are, so do not just rely on this, yet eturbonews (Global Travel Industry News) reported that Russian tourists could drop by 40%. Now, make sure you notice the word ‘could’, because that makes it a prediction and even though this last article is only a week old, the overall tourism for Greece is a lot larger than just the Russians. A more reliable Dutch source gives us (at http://www.nrcq.nl/2015/06/02/toch-maar-welniet-met-vakantie-naar-kos) gives us that the numbers to Greece are down, but not by a large extend, and so far, the pull to Greek vacations is better than 2013, which would be a good thing for the population. One agent has seen rebooking of Greek vacations, yet these changes were from Kos to Corfu, not to a non-Greek destination, so the Dutch drop is not that large, yet it is there, so this also implies less money into the state coffers than already voiced loudly last week.

I must pause and take notice of facts. Is it just me? I must doubt my own view, when I am the only one having it, that is logical, yet the view of this system of pretending a fake status quo whilst the Greek government is not fixing its flaws and demanding more money is extremely unhealthy. Those enabling all of this seem to remain behind the curtains of the press, which is even more discerning.

So as Louka Katseli states “sanity will prevail”, we should wonder, for who it will prevail, because adding €18bn (£12.9bn) onto a nation that cannot pay its bills is not sanity, especially as the governors of that nation refused to take any action, any move of good faith towards the people who had lend them the previous amounts in the first place. If I would go to the bank tomorrow asking for a loan of 25 million, there would be no way that I would get it, so why did Greece successfully end with close to half a trillion is equally puzzling, especially as the same measurements for me would not hold water, how does it for Greece?

In the end, Greece not acting is the plain reason for Greece possibly facing the ‘Grexit’. I use the word possibly, because as we see in the news today, all the players are all about adding water to the wine, whilst Greece is not drinking at all. So there is no real answer what will happen next. And in the end it is twofold. The first is the deal that needs to be made, the second will be how to tell Europe all this because President Hollande knows very well that Marine Le Pen is waiting to voice his words and let them spike into the heads of frustrated and angered French citizens all over France. over 10% is unemployed and almost 13% lives in poverty, which overall is not that bad compared to other places, in the UK it is now stated to be a third, which is massive (at http://www.theguardian.com/society/2015/may/20/income-poverty-third-uk-population).

This is at the heart of several issues as I have been stating for a long time. Am I correct? Well, most facts came to pass, the fact the Greece has not been exited makes my prediction flawed, yet we must not underestimate the extent of time shifts that have been done just to facilitate these events. That view is only reinforced 10 minutes ago, as new talks start. A theatre routing partially in Greek, partially not, with a mock slap this talk starts. All to feed the press, but the issues are of a deadly serious nature for the Greek population, so as they lighten the mood, we must wonder, where the puppeteers are. So is this a plain Punch and Judy show, or is this a Jeff Dunham spectacle, because the voices behind the screen are those that have been twisted to sound like, this conclusion comes as Christine Lagarde stated 2 days ago that there would be no grace period for Greece, now suddenly there are concessions, yet we are not yet informed on the concessions and certain parties are now willing to open the purse for 6 months of leeway. So if that does happen, no leeway was given (theoretically), it would be classified as a partial agreement, hence the ‘concessions’, which ones? We will know soon enough!

 

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