Tag Archives: Yanis Varoufakis

Confirmation on Arrival

Last week, I gave you some of the views I had in ‘Google is fine, not fined‘ (at https://lawlordtobe.com/2017/06/28/google-is-fine-not-fined/). I stated “This is not on how good one or the other is, this is how valid the EU regulator findings were and so far, I have several questions in that regard. Now, I will be the last one keeping governments from getting large corporations to pay taxation, yet that part is set in the tax laws, not in EU-antitrust. As mentioned the searchers before, I wonder whether the EU regulators are facilitating for players who seem more and more clueless in a field of technology that is passing them by on the left and the right side of the highway called, the ‘Internet Of Things’“, 5 days later we see that my views were correct, again and again I have shown that looking behind the scenes is adamant to see the levels of misinformation and betrayal. Now in ‘To tackle Google’s power, regulators have to go after its ownership of data‘ (at https://www.theguardian.com/technology/2017/jul/01/google-european-commission-fine-search-engines) we now see: “The Google workshop at the Viva Technology show last month in Paris, which brought together players who shape the internet’s transformation“, this is what it always has been about. Who owns the data? Evgeny Morozov gives us a good story on what should be and what should not be, he pictures a possible upcoming form of feudalism, all drenched in data. It is no longer just about merely data and applicability; it is more and more about governments becoming obsolete. The EU is the first evidence in this. The EU is regarded as something that is on top of governments, yet that is not the case. It seems to be replacing them through orchestration. Mario Draghi is spending massive amounts of funds none of them have, yet in all this, yesterday we see “The European Central Bank has been dealt a heavy blow after inflation in June tumbled further below target, despite extreme measures from policymakers to stoke the economic measure” as well as “Unless price rises are stronger, ECB chief Mario Draghi has signaled that he is unlikely to scale back the mammoth levels of support for the economy“, so it is he and the ECB who are now setting the precedence of spending, printing money without any value behind supporting it. So is it ‘wealth distribution‘ or ‘wealth abolishment‘?

If we agree that this economy has failed, if we believe that this way of life is no more, when we accept that ¼th of this planets population is dead in roughly 25 years, what would come next? I would not presume to know that answer, yet can we imagine that if the dollar stops, we would need something else, in that case is data not a currency?

Now, I am perfectly happy to be utterly wrong here, I am also weirdly unsettled with the notion that our money is dwindling in value day after day. Now let’s get back to the ‘view’ of Morozov. When we see “Alphabet has so much data on each of us that any new incoming email adds very little additional context. There are, after all, diminishing returns to adding extra pieces of information to the billions it already possesses. Second, it’s evident that Alphabet, due to competition from Microsoft and Amazon, sees its paying corporate clients as critical to its future. And it’s prepared to use whatever advantages it has in the realm of data to differentiate itself from the pack – for example, by deploying its formidable AI to continue scanning the messages for viruses and malware“, we see more than just an adjustment in strategy.

Yet, I do not completely agree, you see data is only truly valued when it is up to date, so as data rolls over for new data new patterns will emerge. That would be an essential need for anything towards an AI, in this Data in motion and evolving data is essential to the core of any AI. and that timeline is soon becoming more adamant than some realise.

When we consider a quote from a 2006 article relating to a 2004 occurrence “Google published a new version of its PageRank patent, Method for node ranking in a linked database. The PageRank patent is filed under its namesake, Lawrence Page, and assigned to The Board of Trustees of the Leland Stanford Junior University; US Patent 7,058,628“, we should consider that the value it has will diminish (read: be reduced) in 2024 (for Google that is). There is of course another sight that this was ‘version 2‘, so others would be able to get closer with their own version. In 6 years as the Patent ends it will be open to all to use. No matter what some have, you only need to switch to Bing for a few days to see how straggling and incomplete it is. When you realise that Microsoft has no way at present to offer anything close to it, you get the first inside of how high the current Google value is and how much it scares governments and large corporations alike.

Now we get to the ‘ground works’ of it. From this we can see that Google seems to have been the only one working on an actual long term strategy, an event that others have stopped doing for a long time. All we see from Microsoft and IBM has been short term, masquerading as long term goals with 70% of those goals falling into disrepair and become obsolete through iteration (mainly to please the stakeholders they report to), is it such a surprise that I or anyone else would want to be part of an actual visionary company like Google? If Google truly pulls of the AI bit (it has enough data) we would see a parsing of intelligence (read: Business Intelligence) on a scale never witnessed before. It would be like watching a Google Marine holding a 9mm, whilst the opposite is the IBM Neanderthal (read: an exaggeration, the IBM would be the Cro-Magnon, not Neanderthal) holding a pointy stick named Watson. The extreme difference would be that large. In all this governments are no longer mentioned. They have diminished into local governments organising streams of data and facilitating consumers, mere civil servants in service of the people in their district. Above that, those levels of workers would become obsolete; the AI would set structures and set resources for billions. We went from governments, to organisations, we left fair opportunity behind and moved to ‘those who have and those who have not‘, and they are soon to be replaced for the ‘enablers and obstructers‘ and those who are the latter would fall into the shadows and face away.

Am I Crazy?

Well, that is always a fair argument, yet in all this, we have Greece as an initial example. Greece is possibly the only European nation with a civilisation that would soon become extinct twice. So as we see reports of lagging tourism revenue, on top of high regarded rises in GDP, rises we know that are not happening as the revenues are down by a larger margin (source: GTP), Greek revenue is down by 6.8 percent, which is massive! This gives stronger notions that the ‘beckoning of Greek bonds‘ is nothing more than a façade of a nation in its final moments of life. The fact that the ECB is not giving it any consideration for its trillion spending could also be regarded as evidence that the ECB has written off Greece. So tell me, when was the last time that nations were written off? Some of the press is now considering the works of former ‘rock star’ Yanis Varoufakis. Yet in all this, when did they actually change the landscape by investigating and prosecuting those who got Greece in the state it is in now? In the end, only the journalist releasing a list of millionaires pulling their money out of Greece, only he went to prison. So, as such, Greece is a first step of evidence that governments are no longer the powers they once claimed they were, and as less and less government officials are being held to account when it comes to larger financial transgressions is also a factor as to why the people of those nations no longer give them any regard.

The second view is in the UK, here we see ‘U.K. to End Half Century of Fishing Rights in Brexit Slap to EU‘, in this Bloomberg gives us “Prime Minister Theresa May will pull Britain out of the 1964 London convention that allows European fishing vessels to access waters as close as six to twelve nautical miles from the U.K. coastline“, in here we also see “This is an historic first step towards building a new domestic fishing policy as we leave the European Union — one which leads to a more competitive, profitable and sustainable industry for the whole of the U.K.“, which is only partially true. You see, Michael Gove has only a partial point and it is seen with: “Britain’s fishing industry is worth 775 million pounds and in 2015 it employed 10,162 full-time fishermen, down from about 17,000 in 1990. In almost three decades, fleet numbers dropped a third to 6,200 vessels and the catch has shrunk 30 percent“, the part that is not given is that from 1930 onwards engineering made massive strides in the field of ship engines, not large strides but massive ones. A ship, and its crew can catch fish, yet it is the engines that allow for the nets to be bigger and for the winches to be stronger to hoist those filled nets. In the ‘old’ days 2000 horsepower was a really powerful vessel, which amounted to 1.5 megawatts. Nowadays, these boats start at well over 300% of what was, so not only are the ships larger, can hold more fish and pull more weight, these ships are also getting more efficient in finding fish. I personally witnessed one of the first colour screen fish radars in 1979. In this field technology has moved far beyond this, almost 4 decades beyond this. If there is one part clearly shown, than it is the simple fact that technology changed industries, which has been a given for the better part of three generations. Not merely because we got better at what we do or how we do it, but as fishing results show that catches has been down by 30%, there is the optional element that there is less to catch because we got too efficient. It is a dwindling resource and fishing is merely the first industry to see the actual effects that lack of restraint is leading to.

So when we see a collapsed industry, can we blame governments? Who can we blame and is blame an actual option? In this, is there any validity in the fact that this part of government has surpassed its date of usefulness? Perhaps yes and there is equal consideration that this is not the case, yet the amount of consumers remains growing and as available resources go down we see the need for other solutions.

This is merely a first part. As we now move into the US and their 4th of July part, I will now look at other sides as well, sides we stopped considering. You see, there is opposition and it is growing. CNBC gives us one side to this with ‘Google Deep Mind patient data deal with UK health service illegal, watchdog says‘ (at http://www.cnbc.com/2017/07/03/google-deepmind-nhs-deal-health-data-illegal-ico-says.html), three points were raised. “A data sharing deal between Google’s Deep Mind and the U.K.’s National Health Service “failed to comply with data protection law“, the U.K.’s Information Commissioner’s Office (ICO) said“, “The deal between the two parties was aimed at developing a new app called Streams that helped monitor patients with acute kidney disease” as well as “the ICO said that patients were not notified correctly about how their data was being used“. Now, we can agree that an optional situation could exist. So does Elisabeth Denham have a point? For now let’s agree that she does, I would reckon that there has been a communicative transgression (this is how she plays it), yet is she being over formal or is she trying to slice the cake in a different way? The strongest statement is seen with “For example, a patient presenting at accident and emergency within the last five years to receive treatment or a person who engages with radiology services and who has had little or no prior engagement with the Trust would not reasonably expect their data to be accessible to a third party for the testing of a new mobile application, however positive the aims of that application may be.” OK, I can go along with that, we need certain settings for any level of privacy to be contained, yet…..there is no yet! The issue is not Google, the issue is that the data protection laws are there for a reason and now, it will hinder progress as well. As health services and especially UK NHS will need to rely on other means to stay afloat as costs are weighing it more and more to the bottom of an ocean of shortage of funding, the NHS will need to seek other solutions that will set an upward movement whilst the costs are slowly being worked on, it will take a long time and plenty of cash to sort it out, Google is merely one player who might solve the partial issue. Yet, the news could go in other directions too. Google is the largest, yet not the only player in town, as people seem to focus on marketing and presentations, we see IBM and to the smaller extent Microsoft and we all forget that Huawei is moving up in this field and it is gaining momentum. The cloud data centre in Peru is only a first step. It is only the arrogance of Americans that seem to think that this field is an American field. With Peru, India and China, Huawei is now active on a global scale. It has hired the best of the best that China has to offer and that is pretty formidable, There is no way that Huawei could catch up with Google in the short term, yet there services are now in a stage that they can equal IBM. As we see a race for what is now at times called the IoT landscape, we see the larger players fight for the acceptance of ‘their IoT standard’, and even as we see IBM mentioned, we see clearly that Google has a large advantage in achievements here and is heading the number of patents in this field, as Huawei is pretty much accepting the Google IoT standard, we see that they can focus on growth surpassing IBM, Qualcomm and Intel. In this Huawei will remain behind Apple in size and revenue, but as it is not in that field in a true competitive way Huawei might not consider Apple a goal, yet as they grow in India, Huawei could surpass the Tata group within 2 years.

So how does this matter?

As we see the steps (the not incorrect steps) of Elisabeth Denham, the acts as we saw in the Guardian on how regulators are trying to muzzle and limit the growth and activities of Google, how much influence do they have with Huawei? Even as we see that Huawei is privately owned, there have been a few articles on Ren Zhengfei and his connection to the Chinese military. It has spooked the US in the past, and consider how spooked they will get when Huawei grows their service levels in places like Greece, Spain and Italy? What will the EU state? Something like “your money smells, we will not accept it“. No! The EU is in such deep debt that they will invite Huawei like the prodigal son being welcomed home. So whilst everyone is bitching on how Google needs to be neutered, those people allow serious opponents and threats to Google’s data future to catch up. Huawei is doing so, one carrier at a time and they are doing it in a global way.

So as we see all kind of confirmations from media outlets all over the world, we seem to forget that they are not the only player in town as their growth in EU nations like Spain with a new android base Set Top Box (STB), Huawei just now becomes the competitor for Telefonica, Vodafone and Orange, implying that it now has a growing beach head into Europe with decent technology for a really affordable price. In a place where they all complain on how there is no economy, Huawei is more than a contender and it is growing business where others had mere presence and sustainable levels of revenue. It is merely a contained view on how the EU regulators seem to be fumbling the ball for long term growth, whilst handing opportunity to China (read: Huawei), who will be eagerly exporting to Europe the products they can.

In all this, CoA can be seen as a mere confirmation, a Course of Action by regulators, the Court of Appeal for Google, the Cost of Application for Huawei, the Coming of Age for Business Intelligence and the Center of Attention that Google is calling on themselves, whether intentional or not does not matter. We are left with the question whether at this point, the limelight is the best for them, we will leave that to Mr. Alphabet to decide.

1 Comment

Filed under Finance, IT, Law, Media, Politics, Science

As the UK changes

There is no doubt about it, the UK is about to get a drastic change of image. Some of these parts is on them, other parts are set for them by others. We might all debate that it is usually the one or the other is sorely mistaken. It is when the industry and those trying to ‘guard’ their path to become members of ‘the billionaires club’, it is at that point we need to worry on who can influence our paths to a decent life and those who is trying to direct their ‘image’ from behind the screens. It is at that point ‘we the people’ must worry. You might think that me, being an Australian blogger, that I have no skin in the game. That is where you are wrong!

My grandfather was not just British, he served during WW1. In addition, there was a moment where my grandfather excelled, it was not WW1, it was a little later that he became one of the volunteers who acted and helped to unload the boats as there was a dockworker strike. I am not up to date on all the details as he passed away whilst I was still too young to comprehend the concept of ‘strike’. The reason why I remember it was because my grandmother showed me the letter of gratitude which came from King George V (I personally reckon it was done by his staff and he signed it). Still, my grandmother was proud to have the letter. This is not just some memory, the event mattered. Not all things done for King (or Queen) and Country is done in a war. We have points of view, and in the past the people had a strong moral compass. Those who did strike might have had an equally strong moral compass. I do not oppose that or their view. My point of view is different as I am from a much later era. So when we see: ‘Tories attack Labour over inheritance tax and spending plans‘  (at https://www.theguardian.com/politics/2017/may/03/corbyns-economic-policy-would-cost-voters-45bn-ministers-claim), where the backdrop is Jeremy Corbyn with the bomb stating ‘More debt, higher taxes’, we need to be concerned for our future. It makes me particularly sick that Jeremy Corbyn is making promises that have no bearing on reality. As a conservative, I would love to employ another 10,000 police officers. Actually, I prefer 4,000 Police Constables’s and 6,000 nurses, but that is just me. With over a trillion in debt the UK government cannot afford it and I get that. The previous Labour government has wasted so much money, they should not be allowed to drive the UK deeper in debt by making promises and spending cash that will take an entire generation of workers to settle. 4 years of spending and 25 years of paying it back is not a plan, it is idiocy! In that we need to realise that the game has been over for far too long. The UK needs affordable housing plans, which will also cost heaps, yet this is money they will get back as the economy is starting to employ people again and get the quality of life for all (especially the lower incomes up), in that Jeremy Corbyn has absolutely no clue what to do and it is with that level of cluelessness that he wants to be elected, so he is making empty promises (as I see it) to throw money at any sizeable group for the mere number of votes. A party that cannot even be one party and is infighting nearly non-stop, that is not a party that should be regarded as a valid choice, at that point UKIP will be a much better choice than Labour has been for close to 5 years. I reckon that even if the LibDems could find their groove and direction, they would be a better choice than the Labour party is at present, which is saying a lot.

The UK budget is an issue and those who can count know this, they have known this for 6 years that the party was over. The Commonwealth needs to pull together and find solutions that will bolster each other. In this Australia and Canada are the most likely allies, yet we should not discount New Zealand or India here either.

The second part actually intersects politically with the first. I have a few issues with the article called ‘The six Brexit traps that will defeat Theresa May‘ (at https://www.theguardian.com/politics/2017/may/03/the-six-brexit-traps-that-will-defeat-theresa-may), yet there are parts that we need to truly consider in more than one way. The first is shown with ““It’s yours against mine.” That’s how Wolfgang Schäuble, Germany’s finance minister, put it to me during our first encounter in early 2015 – referring to our respective democratic mandates.“, as well as “Brussels became the seat of a bureaucracy administering a heavy industry cartel, vested with unprecedented law-making capacities. Even though the EU has evolved a great deal since, and acquired many of the trappings of a confederacy, it remains in the nature of the beast to treat the will of electorates as a nuisance that must be, somehow, negated“. I have some issue with the second one, but that will be addressed shortly. The fact is that the writer, Greece’s favourite rock star: Yanis Varoufakis (read: former Greek Finance Minister) has been playing a game whilst in office (a politically valid one), yet the consequence is that their play pushed Brexit forth. In addition, we know that there is a long lasting issue in Brussels and the fact that the EU-zone is a mere facilitator for big business is slightly too conspiracy theoretical. Yet the fallout, which I blogged about for a few years pushes that view forward too. I believe that the truth is that the EU opened up a power broker game where large corporations had much more influence than even before. The EU players have to have one front whilst corporate divisions could play both ends of the political field against the middle, with the economic area’s being always too scared of their local needs. And those in charge had (read: have) no real need for Greece, only for the banks that could give them larger than life careers after their political day. This has been a global view and shown to be correct for the longest of times. So when we read: “From my first Eurogroup, its president, Jeroen Dijsselbloem, the Dutch finance minister, began an intensive campaign to bypass me altogether. He would phone Alexis Tsipras, my prime minister, directly – even visiting him in his hotel room in Brussels. By hinting at a softer stance if Tsipras agreed to spare him from having to deal with me, Dijsselbloem succeeded in weakening my position in the Eurogroup – to the detriment, primarily, of Tsipras“, this read completely correct from my point of view, yet I must also state that as Yanis played his public game (or is that pubic?), as the testosterone was flying off the newspapers, whether under orders of his PM or not (an unknown factor), Yanis played his game too hard and Greece was in no place to play the game that hard, especially as the Greek spending and misrepresenting transgressors never ended up in court and prosecuted, Greece did not have any options to lean on, not morally and not literally. Yet, there is a side that we see has a ring too it, we have seen it over the last two years as the ECB and Mario Draghi have been playing their political game for slightly too long, certain better financial media are now asking questions on Draghi and his non maintainable status, that whilst Draghi has been making additional Brexit threats. All this in the agony of fear because the turmoil in France is intensifying. In sight of the slip of numbers in the pro-Macron group, the financial world is now holding its breath and the next 96 hours will be the killer with adrenaline levels so high that can be cut with a knife. Wall Street will be glued to the election result screens, quite literally praying for a miracle.

Last there is the everlasting issue with the NHS (the one where the UK Labour party wasted 11.2 billion IT funds on). The article ‘Hospital waiting lists ‘will rise above 5 million’ as targets slide‘ (at https://www.theguardian.com/society/2017/may/03/nhs-annual-health-budget-increases-conservatives-ifs), is one that intersects even more. the cost of keeping it correctly alive should be on the minds of anyone voting in the UK. It is the most important long term part in everyone’s life in the UK. The issue is that it might not be immediate and therefor too many people are ignoring it because there has been too many NHS news mentions, but it will define the life of everyone in Britain, as such we need to realise that the hollow promises of Jeremy Corbyn are a direct threat to the existence of the NHS. Many might blame the Tories here, but the reality is that 2 terms of Labour did spend all the money there was and they also did the spending of 3 additional administrations as I see it, which is why they are so dangerous. The quote: “Without further help from the next government after the election, this is what the real impact will be on patients of successive underfunding of the NHS,” said Ian Eardley, vice-president of the Royal College of Surgeons” is not incorrect, yet those in charge of the NHS and those connected to high valued luncheons and board meetings should have taken a much better posture when billions were spent on a system that never worked. There is a consequence to that and as funds and infrastructure both took a dive the future will be grim, not unsolvable but grim none the less. Denis Campbell has written a good piece and should be read, this is not merely about a few quotes, there are serious issues, yet in all this there are parts missing, parts that are connected yet unmentioned. In light of what needs to be a light, the one article will never cover it (not due to the writer). Merely because the issue has become too great. Now, as we see what is in play, we need to revisit the start of this blog. My grandfather did what he thought was essential and right. Ships had to be offloaded, the goods were meant for the people and as such if not unloaded, the people would suffer. In that light the NHS is in a place where it is doing what it can, but the truth is that the NHS must change and adapt. People a lot more clever than me will need to make a reform, reforms that Greece halted and it is dragging them down, the UK will have to change the NHS is drastic ways. When we read that 5 million people are on a waiting list, we have to question the time they remain on that waiting list. The elitist approach that the nursing groups have taken as to whom can become a nurse and which tertiary education is good enough to be a nurse in the UK is one that requires scrutiny. There are too many political games being played and even as they voice ‘quality of staff‘, there has come a point where people are dying because there is no staff. We need to instigate a change that opts for a situation where 100,000 patients can get some level of care as per immediate. The Corbyn solution of throwing money at it will not do. We can argue that in equal measure privatisation is equally a bad idea, because we merely replace ‘level of care standards‘ by ‘level of profit‘ and that will never ever lower cost for the people at large. The parts we tend to ignore is not privatisation, it is interactivity of services that will lower cost, that part needs to be ascertained and not by groups trying to create a new gravy train.

We need actual solutions and it requires a different train of thought, one that needed yesterday. So as the press is facilitating on how Labour will spend more on the NHS and nurses, whilst the publishers of these papers know that there is no way that this can be funded, you need to question on what makes for an actual solution. The only solution (as I personally seen it) is to create a wave of credible positions and train the people in some places on the job. Perhaps these colleges need to accept a new degree where people can be trained on sight step by step, lowering the pressure for those who can do it all by slowly replacing those who can do it too and not just in nursing, because if the waiting list got to the millions, we need to see where surgeons could have an alternative group of people, not unqualified, but those who barely missed the grade. We need to reconfigure the pyramid shaped triangle into a parallelogram, so that some functions that cannot be filled can be done by others. Now, lets all accept that a surgeon is an extreme example, yet can the same be stated for a radiologist? an Anaesthesiologist? or even a surgical assistant? Three functions that might opt for additional people from other branches. Even as we know that they all claim ‘dedicated’ and ‘perfectly schooled’ personnel. It is time that those academic ‘advisors’ from Royal Colleges take a sharp look at wartime conditions and to the parts that some could play in aiding in a solution. Now because there is a strike and the dockworkers are busy standing up for their rights (which is a valid activity), but because in this high pressure world there are ships docked and there is no one left to unload the boats. That is where the NHS is and that is where they need to find a solution. Perhaps this will be found in the military, it is possible that those in the medical services of the Army, Navy or Air force will find that they are doing part time work at an NHS location. In that same stage, so will other defence branches find themselves. Fighting for their country, not in the trenches of the Somme, but in the tranches behind a desk of London Hospital. It might just keep that deficit down from £134.9m (that is this year alone) to something that could actually be managed.

We need another play, and it is perhaps the UK who might remember how they changed Cricket tactics in 1932-1933, so they did not get completely humiliated by Don Bradman. We still need a better solution and the Bodyline tactic was never an acceptable tactic, that whilst the ‘win at all cost‘ is not a decent play, but the NHS is now in a stage where it is ‘survive or die‘ and nobody wants the NHS to die, so in this the NHS and especially the advisory boards will need to look at tactics that will make them really unhappy, but at this stage they have left themselves no other options and the political players can only facilitate unrealistic options that are no options. They will start a path that will change the UK for generations, yet in that let that be in a way that will allow for the existence of some level of National Health Care. In this that they will need to write a new playbook, one that can offer options, not limitations.

 

Leave a comment

Filed under Finance, IT, Law, Media, Military, Politics, Science

When everyone is a winner

You have heard of these special schools? The school where everyone wins, no one has a bad grade and everyone is special. Yes, we are talking about the Eurozone, the one school where lessons are not learned, where those who posture (read: all) win a prize, or perhaps they fetch a price. What matters is that this social path does not get us anywhere.

You see, I am not some anti-social person, I understand that we can be compassionate, but I do have a problem when grown men, all making 7 figure incomes are given that level benefit of doubt. Mainly because I could do a better job for half the price. We see the first issue a few days ago when Wolfgang Schäuble makes the statement (source: the Guardian) “Greece must implement economic reforms if it is to keep its place in the Eurozone“, and when we see the degrees that this man has, we might consider that he is not a demented toddler, so when we consider the knowledge that we have obtained over the last year:

1. A nation can only voluntarily leave the Eurozone.
2. Considering the UK and the hassle it is facing just to get past article 50.
3. The fact that Grexit was not a possibility, which drove the UK towards Brexit and France towards Frexit.

Can we sincerely ask the question why this man is opening his mouth posturing some level of adulthood (or adultery for those with a sarcastic look at the EU charter), whilst all know that this is basically an empty statement?

So, if the statement “If Greece wants to stay in the euro, there is no way around it – in fact completely regardless of the debt level”, the entire Brexit could have been avoided when the children of the EEC commission had acted when they should have (read: all the way back in August 2014), so because the denied ‘status quo group‘ who tried to keep the gravy train going we all had enough and most Britons decided that going it alone is just the best solution, now that we see that this same group is realising what they are about to lose, it is only now that we see the first noises to make the hardest decisions, all because they are about to lose trillions. The fact that this comes from Germany is not a surprise and it isn’t linked to the hardship the Deutsche Bank faces. Yet, the people behind Schäuble (Wall Street and the IMF, which is my personal speculation), we now see desperate steering towards alternative solutions hoping to find an option to thwart Brexit and perhaps steer Frexit away from a referendum course. It might work, but we all need to realise that French pride has already been dented, so there is no way to accurately tell how that part will pan out.

We see a diversionary tactic in the quote “With his own popularity plummeting in the face of fury over creditor-mandated cutbacks, the prime minister, Alexis Tsipras, had hoped to wrap up a second review of policy measures in time for Monday’s meeting as part of a broader strategy to secure short-term debt relief and participation of Greek bonds in the European Central Bank’s quantitative easing programme“, yet this is all true. So why do I call it a diversion? You see, the players behind the screens are about to lose thousands of billions (read: trillions), so Greece and their 300 billion really do not add too much on the entirety of the big picture. Even as the US is heralding such huge achievements in unemployment figures, most will not realise that in February, after thanksgiving, after Christmas and after January sales, the shops will downsize by a lot. There is a lot of speculation on Black Sunday and the other shopping spree numbers, but as too many speculations are given here from too many sources, we actually will not know the actual outcome until mid-January and after that any action and all numbers will get quietly hushed to page 23 of newspapers. That is done because the Democrats really do not want anything in that regard to receive too much visibility until January 20th when all eyes will be on the start of the Blame Trump campaign.

What is a given is that the American administration is facing dire moments and their only fortune is that this impacts Wall Street, the IMF and the Rothschild’s, so their all uniting in finding any solution that keeps their Status Quo. They might not be related to the band, but the tour that these players have been preparing for will include hits like ‘Whatever I want‘, ‘Roll over stay down‘ and ‘Rocking for all that I own‘. Now, what is the link between the IMF and the Rothschild banks? Well, it is not what some conspiracy theorists states like: ‘Rothschild Bankers Looting Nations through World Bank/IMF‘ or ‘Hungary Becomes First European Country to Ban Rothschild Banks‘, what is of principle matter is the claim that ‘The International Monetary Fund is an international development banker. It makes loans to governments. It gets its funding from member governments‘. Yet, when you consider the debt these members are in, with the top 5 having a total debt that surpasses 35 trillion, can anyone explain where their money is actually coming from? The short answer is that the funds are fictive and virtual, and basically as I personally see it based on fraudulent economic settings to say the least; which now implies that only the larger (read: largest) players with the Rothschild family at the very top are included as behind the screen underwriters (for a percentage of course, they are not philanthropists), that is the reality of banking and those underwriters want to see their money. So at this point losing 300 billion is nowhere near the issue as losing an amount surpassing 5 trillion. So there is every issue in play and the German Wolfgang Schäuble is doing the ‘kick off’ whilst everyone is slightly less interested in economy and more into the Christmas parties with the office assistant in a horny accommodating outfit that in the mind would include transparent Red Santa lingerie, willing to engage in activities of a ménage-a-troy kind.

Welcome to the holiday season they will think, whilst on the other side the economy is decided for the largest players in a setting of debt by those not elected but enabled. The mere consequence of governments and the corporate contracts. The debt must flow, the debt must grow and the UK moving out of the EEC is the first step into giving the UK its true independence from these financial institutions. That part is now also under attack as the ‘British Balls’ (read: Labour Party Ed Balls, former Economic Secretary to the Treasury) is at the core of that part, as was shown (at https://www.ft.com/content/2616611e-a665-11e6-8b69-02899e8bd9d1), on November 17th in the Financial Times. You see, even as I have had a few disagreements with its Governor (aka Marky Mark of the British bank), the man has steered it correctly in the direction the United Kingdom required it to go. Yet now as this does not pleases the non-governing parties at large, well Balls, let’s make a deal, shall we? If we agree to reign back the independence of the Bank of England, you must agree and sign a decree per immediate that any politician squandering treasury money due to any level of negligence (or incompetence), will have to go to prison for 10 years without the option of parole. Would you sign that Ed? Consider the NHS IT issue of 11.2 billion, how many of your friends will be set to prison? How many negligent programming contracts were signed off on? Are you willing to make that leap, because the only ‘friends’ you end up having are those of the non-UK kind and many of them mere graduates that were on your every word in that Harvard building where you made that speech and a few more in financial institutions who didn’t much care for the independence of the Bank of England. So how about it Eddy, you got the Balls for that one? I would expect some kind of other proclamation soon enough. You see what he wants is not any accountability in a setting where all is squandered away. The British people have had more than its share of that one. So as we read: “The paper comes after vehement attacks on central banks and their policies in the US, UK and Germany; criticism that would have been unthinkable in the 1990s and pre-crisis 2000s, when the fashion for central bank independence was at its peak“, where I would see that the idiotic notion of the Bank of England should be forced to fund infrastructure projects, whilst we know where 11.2 billion didn’t get the job done and there wasn’t enough money to get it sorted due to negligence and what I would regard after 20 years in IT as ‘steps of utter stupidity’, well worth of getting those decision makers in prison for the longest of time (read: while I am aware that the maximum prison term would be 10 years), a term that others would call too light, especially those who are now due to no fault of either party are getting less from the NHS that can no longer meet the high standards it gave for the longest of times.

So when we read in that same paper “Carney says politicians ‘deflect blame’ by attacking central banks’ Rising inequality is driven by more fundamental factors, argues BoE governor“, my response would be: “Right you are Marky Mark!“, although I would speculate that some of these fundamental factors would be the ignorance of the decision makers whilst relying on people trying to get the maximum they can out of the deal offered and the connections relying on them. That would a fundamental first to consider and solve. Which gets me to the point that those politicians will be held accountable for the support to these projects and they need to be dealt with if they fail. So the special prize for these non-kids is the one that every winner wants, 120 months of hotel accommodation in places like Holiday resort Wakefield, or Wandsworth Garden retreat in South West London? Would that perhaps up the game of a few politicians, or will they suddenly decide to be less enabling to those who see the independence of the Bank of England to be more than an eye sore and a factor that stops their maximum profit to continue? I am merely asking, not making a claim of any kind.

The Financial Times article has a few other sides and makes fair statements, even though the initial source is questionable from my point of view. The writer Chris Giles adds at the end “For the Fed, the problem is reversed and while it has in its Financial Stability Oversight Council sufficient political legitimacy for macro prudential policies, the US central bank does not have sufficient tools to do the job and cannot request new tools from the administration, it adds“, you see, the British and US systems might seem the same, but they are not. I would surmise that there is a Federal and State level of these issues that the UK does not have to the extent the US has them. It is not just the differences in approach and connections, I and most of us see the Bank of England as the pulse of the health of the British economy and as such, its independence, especially from a boatload of politicians, is essential to this view. Now, I might certainly be wrong, yet overall, how many would agree that many politicians seem to spend in what they truly believe to be for the best, whilst not having a clue on how proper debt levels need to be and they will happily push that bill to the next cycle, the NHS IT is not the only, but definitely one of the clearest and largest examples of mismanaged spending on several levels, having someone independent in charge of the Bank of England making sure that the tap gets closed before it is too late in this term with a clear look at what comes next and what else is due now. A view many politicians on a global scale are lacking. And as the US system has a much more isolated view regarding the economy enablers, the economy and the US treasury gives another shine on their view and their lacking demand for independence and accountability (again, as I personally see this).

You see, there is a lot more in play, this isn’t just on what is due to Greece, the UK or the Banks wanting there coin. The fact that left and right have to some degree social values and of course, the left tends to have a little more of that. Yet, when we look at ‘Greece under fire over Christmas bonus for low-income pensioners‘ (at https://www.theguardian.com/world/2016/dec/09/greece-under-fire-over-christmas-bonus-for-low-income-pensioners), we need to question certain responses. The quote “A goodwill gesture to ease the plight of those hardest hit in Greece by tax increases and budget cuts has backfired spectacularly on the prime minister, Alexis Tsipras” is one that is of great concern. Consider that this is about retirees that get less than €800, so, when we consider that rent in Greece is €450 or more, with added monthly utilities of no less than €140, this means than they get to live of €310, which is abysmally little. A week of food and clothes and other things at €75 per week is the nightmare scenario for even the best miser in town. Now consider Christmas is around the corner and these Greeks and those getting even less are getting a one-time bonus for Christmas. It is a social smallest act by the Greek government and after the issues that the retirees have gone through clearly the act that should be done as soon as possible. So I would really like to know the names of these ‘International creditors pour scorn on prime minister Alexis Tsipras‘, in addition, I would like to see what their functions were and their incomes from 2004 onwards. You see, I want those people and I want to see if they were in any way enabling the imbalance that Greece developed between 2004 and 2009. Mainly because the Greeks suffering now would really like to get those names and addresses. For those following a little longer, I have had plenty of criticism towards what I used to label ‘rock band Tsipras & Varoufakis’, in addition I have had additional issues with what was done over the time period, yet I had never had issues with any solution that could be found resolving the issue, in addition, when Greek was playing hard to get, I was first in line to throw them out of the EEC and the Euro, yet the power players behind all this, and possibly the people holding onto the debt markers were equally accountable. Yet, I have never had anything negative to state over the Greek people at large (apart from the stupidity of all these strikes), so I would have no issue with Tsipras giving a little release in the one month when that makes perfect sense and likely matters the most. Yet in this social climate, we see in equal measure the debatable view by Labour people wanting central banks to be more dependent on the politicians who cause a lot of these issues to begin with. How freakin’ crazy do you need to get here?

So when we consider that special school where everyone is a winner, can we actually accept or even entertain the thought of hiring someone who is on that school of thought? How much damage must Europe endure before the people at large gets a clue? There is accountability, which I have always supported, yet in equal measure, the strain on the Greek people have been unjust been brought by those who have been facilitators of a system that should never allowed to continue to this degree, meaning that Greece should have been removed from the Euro at least 2 years ago. Doing it now, could only be done if the debt of 300 billion would be forgiven, a step that the players are unwilling to give, yet in the light of all that is passing, they are now considering certain steps, only so that they can hang onto an optional 35 trillion, that is the game in play and now, as they realise that the UK has had enough and that France is on the same side of that seesaw, now those creditors are considering the consequence of pressure so now they will divide the EEC and conquer whatever funds they can, for as much as possible. In that light the one off payment is scorned on, so how inhumane have some players become and should we even consider tailoring to their needs?

The scenario where everyone is a winner is a long time away and it is unlikely that Greece and a few others feel this way any day soon, giving even more caution to the words of a president who is on the way out. And who are Greeks creditors? What is the full list, is it not interesting how the press has the detailed specifics on the knickers (read panties) of a Kardashian and the Greek government creditors list gets trimmed to the aggregated list that serves themselves and no one else. In that I believe that Yanis Varoufakis is only scratching the surface when he states “the UK referendum was a “symptom” of a series of mismanagements from EU leaders“, in that he is right and it seems that now he is less of the rock star he presented himself to be, now we see another Yanis, one that is not just driving the nails on the head, he is quickly realising that certain players are preparing for even more issues to be added to the exit of nations from the EU. Even as some is by part to smear the cogs of Germany’s needs, the quote “To take a trip down the Danube to discuss the formation of a European army – pure irrelevance. There is no evidence unfortunately that the political class on the Continent is capable of even sitting down to address the right questions, let alone, deliver the right answers“, which is at the core of failure of any created European army. The biggest issue is not how it is formed, we will see soon enough that once Frexit is a reality, what would actually be left to actually form any decent European army with? It could be a revolutionary new Disney. As we redesign Snow White and the Seven Dwarves into Germany & the 7 minions who cannot agree on anything, will we now see new polarisation in several ways being added to the list of negative plights? In addition, if Italy remains as the larger player, the mere concept of language will be the hilarity of many. I would be willing to wager that the concept as it is failing will derive laughter from 2400 Route de Pexiora, 11452 Castelnaudary Cedex, so loud that it can be heard in both Berlin and Rome, which should make for an interesting news cycle to say the least.

I have spoken against the ideas of several people mentioned in this article, I thought that they went the wrong way about things and they got bit, which I would call ‘serves them right‘, yet I have never applauded or agreed to the level of pressure the Greek people are currently under, in addition, the German finance ministers views, as I personally see them, are not about Europe and not about what would be best for Europe or the United Kingdom. I believe some are starting cycles of facilitation and enabling that will in the end be really bad for Europe, for the United Kingdom, for France and for Europe as a whole. I will let you contemplate how wrong I could be and if that is not the case why the clear outspoken opposition against these proclaimers aren’t coming from more sides, more people and more media. Is that not weird either?

A game where everyone is a winner only knows losers, a truth that goes back to ancient Greece, they were the founding fathers of the Olympics after all!

 

Leave a comment

Filed under Finance, IT, Law, Media, Military, Politics

the Other Currency

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

Leave a comment

Filed under Finance, IT, Law, Media, Politics

Prazosin for Bankers and Politicians

We all have views, we all have opinions and we all have insights. That is our right and I would never deny those rights to anyone. Yet, in any light, should we stop asking questions? Should we decide on one voice being more trustworthy than another one? Should a mere reference or the right PDF be value to that? That is a question every reader should have. You cannot just select one option and ignore the second one without evidence. Some we trust on their word, some sources we trust, and in other cases we trust our own gut feeling. Whatever choice you take here, you must always hold onto scrutiny that what you become aware of. Some you can decide on because of logic, some due to education and experience and some are based on the trust that others give it.

That is the first token, as I see it in any given situation.

When we get back to my previous blog (We do not Care Bears), I mentioned elements in the upcoming Brexit reference. In there a prominent Police Minister of State, namely Rafal Trzaskowski mentioned on the cost for Britain, with the additional mention that you can’t always get what you want. Now we see another specimen of the in this case partially Polish persuasion, namely Jacek Rostowski who gives us “The leave campaign must remember the advantages that Britain has negotiated over 40 years of EU membership that will be lost – as will the UK’s main route to global market access“, is that truly the case? Do you not think that many nations will find a backdoor in any arrangement if this means that they can export to a target audience of 65 million? In addition, the statement “It is hard to see how a market of 65 million could negotiate the terms achieved by that of 500 million“, which is a truth and a fact. What is not given is that the UK is 13% of that entire population. It is one of several nations that has had enough of irresponsible spending and non-accountability.

It is the title we see again in the very and “it is for the British people to decide, but the leave camp is selling a Pollyanna vision of Britain outside Europe that will never exist“, which sounds nice and clever, yet in all this, when a population of 65 million needs goods trade will occur. It did so before the Euro, it will exist after the Euro collapses. It is the rock star (the person I have written about and against) Yanis Varoufakis that gives us ‘The EU no longer serves the people – democracy demands a new beginning‘, which is not incorrect, but it was the Greek utter unacceptable acts (by some of the previous Greek administrations) that is bringing this about. Now we see that Greece is selling itself of to any industrial with enough cash like a cheap debutante. My issue there is that as premium opportunities are ‘given away’, Greece itself will end up having less and less options to grow a national economy. I feel certain that Yanis Varoufakis knows this. Yet, in the article (at http://www.theguardian.com/commentisfree/2016/feb/05/eu-no-longer-serves-people-europe-diem25), he brings the goods that do matter “Brexit campaigners are promising voters that they can have their sovereignty and access to Europe’s single market. But this is a false promise. A truly single market, a genuinely level playing field, requires a single legal framework, identical industry, labour and environmental protection standards, and courts that will enforce them with the same determination throughout the single jurisdiction“, Yanis is not wrong, but I believe him to be incorrect. You see, he is not lying or deceiving you, the issue here is the exact statement that matters. Part one is “Brexit campaigners are promising voters that they can have their sovereignty and access to Europe’s market“, you see, Europe is not a single market, it only seems to be that way.

Take a look at this: “§24 EEG: falscher Alarm oder K.O. für Windbranche?” (Translate: §24 EEG: false alarm or KO for wind industry?), you see, there are still fractured markets, they are managed through a never-ending stream of European legislation. Consider the part “suggests that from 2016 effective six-hour rule the Renewable Energies Act (EEG) will halve revenue of new wind farms within 25 years“. Can anyone explain the utter unfathomability of this quote? (I am not saying it is a false quote; at http://www.erneuerbareenergien.de/24-eeg-falscher-alarm-oder-ko-fuer-windbranche/150/434/88817/), in my simple world, this cannot be. Consider the second quote “an oversupply of production electricity prices on the power exchange EPEX to 6 hours or more negative in a time-contiguous block are. Defacto means of temporarily stopping the market premium payment proceeds failure. That the threat potential of §24 is generally real, shows a view in the short history of the current prices in 2014, the at least six hours continuous phases added with continuously negative market electricity prices on a time volume of 37 hours, which then affected by the six-hour rule would have been. In the first half 2015 already 43 hours fell under the criteria of §24“, this implies that there are moments of oversupply. Now, that might be the actual truth, yet, this seems to imply that the entire renewable energy is linked and only allowed as addition to the fuelling of profit, when that goes renewable energy is not to be used, or to be charged negatively. (I know that my view of that quote is not entirely correct).

I am trying to state that if we truly believe in renewable energy, the moment there is an oversupply, non-renewable sources should be toned down, lowering the price of energy to the people. The article (in German) implies to me that this is another market that is driven to exploitation and profit. And what about the ‘over’ production? What if all that power fuels streetlights, hospitals, places that could benefit by not being charged for energy. If that is 6 hours as implied, we see the linked implication that 25% in cost reduction could be achieved.

In short, the single market of Yanis never existed, EEC legislation is in my view creating a fractal of legislative clustering, all with their own rules for maximised exploitation. The second part is “courts that will enforce them with the same determination throughout the single jurisdiction“, which is nice, but when the law falters on the levels is had, like, you know, jailing those politicians that spend the money Greece never had, would Greece be in such a mess? Well yes, because those laws actually do not exist. We see an influx on humanitarian laws, or perhaps better stated, a code guide to emphasize a surrealistic version of political correctness, yet how much protection did journalist Kostas Vaxevanis get? Was anything done with the published lists? Seems weird doesn’t it, that concept of single jurisdiction, does it not? Even within most national borders the idea of single jurisdiction is a bit of a stretch. Especially when we see the intermixing of issues of commercial and criminal law. We see banks not getting convicted for their actions, yet under intentional torts they could get a hefty invoice. When we get to Quasi tort, we see the case Re Goldcorp Exchange Ltd [1994] UKPC 3, where we get that the bank argued that the gold stocks had never been isolated, making all the gold customers unsecured creditors and that its security interest took priority. It is an argument that can be made, yet in all this consider the parallel where the Greek government ‘sold’ its bonds to the Greek retirement funds. Perhaps some people remember the news that the Financial Times had in Feb 2013 (at http://www.ft.com/cms/s/0/91aae2a6-75f4-11e2-8eb6-00144feabdc0.html), which gets us: “Smaller Greek state pension funds, which are only able to invest in Greek government bonds that are held by the central bank as custodian, together had losses close to €10bn over the same period“, so does that not amount to hiding debts and giving worthless IOU notes to those retirement funds? Was this ever criminally investigated? Moreover, if it is not a crime, why wasn’t there a law enabled stopping this? Even a local Greek law might have helped a lot, but we have seen in many places that certain players will get away with murder, just look at Tesco and see which players are still not under public scrutiny to see that reality.

So, I have issues with this piece by Yanis Varoufakis, yet you should read it, because it is a good piece. Yet, in all that, he never mentions to hold the people and the laws to account as they fell short in the last decade, which I believe is crucial to any progress, any true progress of a shoddy economy. Because with corporate greed firmly in place, with a bubble where power seekers can fill their pockets, we will never get any solution. The realistic fact that over 1 in 3 Greeks are now in poverty should have been a large wakeup, but it seems not to be the case. As some players want their extra cream, fat and lollies, Greece gets to end with less than nothing, something that could have been prevented in 2014, but alas, the law was inadequate.

It would not have been easier, but at least Greece might have a few options, now they have none of those and even less possessions as the valuables have been sold off, a part I was never in favour of! So, let’s get back to the Jacek Rotowsky story (at http://www.theguardian.com/commentisfree/2016/feb/08/brexit-pollyanna-vision-europe-leave-campaign-eu-uk), where we see “This reminds me of the Brussels phrase: “If you’re not at the table you’re on the menu.””, well, as I see it Poland will be, the UK is deciding that this restaurant is no longer for the UK. In that same environment we get the following Gordon Ramsay memes (I have no idea if he ever stated them as I do not watch his show).

  1. You burned the food so black, it stole my bike.

No Gordon! You placed the debt money next to the oven and its equity turned to ash.

  1. This mushroom is so raw, it says the princess is in another castle.

No Gordon! You cannot refer to the economy as an unpleasant situation and state that the other person is at fault.

So as we see how Jacek Rotowsky is about who is at the table and who is on the table, we are in actuality seeing that the UK finds this restaurant to be massively overpriced, whilst serving stale food. And they are not the only guests in attendance, you see, there are 2 dozen more people there. With the first shift (Brexit), France will immediately moving to a Bistro (Frexit), which leaves Germany and Italy in a lurch. Considering that these 4 have 70% of all the debt. Yet they still believe that moving out and taking their invoice with them will pay off for them in the medium long run mainly, because the other nations are just as bad in keeping their budgets and Greece is showing how the others are paying for their choices and errors. The only one in a bad place is Germany, because when the UK goes, so does France, unless it can make an ironclad deal with Germany, giving Italy chances to catch up, but if France goes, so does Germany and then the mess will be complete. The UK is not the first one to truly get a better deal, that is Germany, but overall both will be much stronger within 5 years. France will muddle on and the power blow that the US gets when the Euro goes is the nightmare scenario for whomever ends up in the oval office, only because greed could not be contained.

So as bankers and politicians grab the most powerful Prazosin solution they can charge their health care fund for, we see that this only dims the feeling the nightmare has, not the reality what a collapsed economy holds. That reality will be with the people, they get to learn this lesson because too many players were happy to quote unreal expectations of an improved economy, after which they would hide behind waves of managed bad news and not seek out the dangers that might have been a long term bet could now bring us the approaching reality that we see today and that could pan out to be the new life in Europe from 2017 onwards.

 

Leave a comment

Filed under Finance, Law, Media, Politics, Science

Feeding hungry wolves

You might think that this is another attempt to quell the hunger of paparazzi, which is always a dilemma we people face (famous people more often). They want their pound of flesh and they will have it. So when I stumbles upon ‘Greece crisis: Yanis Varoufakis admits ‘contingency plan’ for euro exit‘ this morning, I knew that a roasting would be in order. The article (at http://www.theguardian.com/business/2015/jul/27/greece-crisis-yanis-varoufakis-admits-contingency-plan-for-euro-exit). So when I read “The plan was denounced by Greek opposition parties, which in recent weeks have called for Varoufakis to be put on trial for treason” I knew I was onto something, in addition there is “the scheme was “reminiscent of a bad thriller.” The main opposition New Democracy party demanded that the government “come up with convincing answers for the Greek people … so that light can be shed on this dark narrative.”“. Now you know me, I consider Yanis Varoufakis to be a bit of a rock star (not a good one) and he played the limelight wrong, but in this case I am on HIS side.

How stupid can the Greeks get?

It was the job of Yanis Varoufakis to protect the financial future of Greece, because of the mistakes by the Greeks themselves, they are in a boatload of hurt and they will be in that position for three generations, that is, as long as they keep austerity. This is not something that was started by Yanis Varoufakis or Alexis Tsipras for that matter, they mismanaged an inherited bad situation. So in light of those accusing him of treason, I call them ‘the worst bloody idiots in the history of Greece!’ They get to live with that title for both this version of Greece as well as dethroning the idiots of ancient Greece because these people have just truly outdone themselves!

And as for these people who are shouting treason, why do we not hear that in regard of the following names? Yiannos Papantoniou and Nikos Christodoulakis former ministers of Finance as well as Konstantinos Simitis and Kostas Karamanlis both former prime ministers. Did they all conveniently forget that the found mismanaged budgets which they hid from the people of Greece and Goldman Sachs was eager to help them for the money it brought them? Yes, you all forgot about them didn’t you?

Now in addition we need to mention Christoforos Sardelis, former head of Greece’s Public Debt Management Agency, when we learn from the Business Insider “the loan was so confusing that even the Greece government had trouble understanding it and thought it was much cheaper than it actually was” (at http://www.businessinsider.com.au/the-secret-goldman-sachs-greece-deal-thats-described-as-a-very-sexy-story-between-two-sinners-2012-3), so Greece, let’s call it Monkey Mountain for now, gave the keys of what they no longer owned to the ‘Top Banana’ in all this (Christoforos Sardelis), to do something none of them understood, how is that not trialed in a Greek court? So after shaking hands smiles and autographs, Greece was due payment of 600 million euros ($793 million) more than the 2.8 billion euros it borrowed.

That comes down to almost 20%! I’ve had a 50% better rate on my Credit Card!

So, when I see the accusation towards Yanis Varoufakis, which was in my view the wrong man, at least he did what he did for ideological reasons (as far as I can tell), his focus was Greece! I never stated anything to the contrary in any of my articles!

In this path, there are still a few issues that are an issue, yet, let’s not forget that this was a plan conceived in the 11th hour as the dangers were very considerable that Greece could be cast out of the Euro (even though that was technically a legal impossibility). ““We were planning to create, surreptitiously, reserve accounts attached to every tax file number, without telling anyone, just to have this system in a function under wraps,” he says, adding that he had appointed a childhood friend to help him carry out the plan. “We were ready to get the green light from the PM when the banks closed”“, I understand the logic attached to this, but in that way, it also meant that the tax dodgers would have had an escape plan, in addition, the Greek 2047 Swiss Accounts (roughly) could walk away scot free, which is not entirely on the up an up here. Yet in the bulk of it all it was the millions of Greeks Yanis tried to protect (I hope), so explain to my how this was treason? The added fact that we see ‘We were ready to get the green light from the PM’ implies that it was based on government structure, so again, how is this treason?

So when we read the Tweet Yanis gave “So, I was going to ‘hijack’ Greek citizens’ tax numbers? Impressed by my defamers’ imagination”, I would tend to agree, because a step like that is impossible without both the tax system and every bank involved to open the doors to their system. It is not imagination, in my view it is basically a technical impossibility, because that many transfers would light the European financial system up like a Christmas tree, Yanis would literally have no place to run or too, or to hide for that matter.

There is one part I disagree with. The quote “Tsipras’s left-wing Syriza party is not only divided but bears little resemblance to the one he was catapulted into office with in January”. You see, Japan only had itself to blame, Tsipras is partially accountable, yet the debt, the massive result from a decade of mismanaged debt and a mismanaged tax system that spans decades, that part was inherited, they can look at previous national rulers, spokespersons and economic managers for that.

So, let’s remove the title ‘Monkey Mountain’ (now that the Top Banana has gone to sunny, luxurious Italy) and focus on Greece! You see Greece will be in a bad place for a very long time to come, it refuses to go after those who truly pushed Greece into generations of bad times. As the Greek population will have to settle for hunger and poverty, other players like Christoforos Sardelis, who is as far as I can tell at present, living in decent luxury in Italy where he works for Banca IMI, the investment banking unit of Italy’s Intesa Sanpaolo. The Greeks are looking in all the wrong places. Hiding the debt was not done by one person, it took several officials, the swap was really stupid but not illegal (Goldman Sachs does not do illegal things, it is very clever in making other people do stupid things). The issue is not yesterday, it is today and tomorrow. Greece needs to wake up and reform a system that cannot deal with the elements of today’s economy, the fact that Greece needs 86 billion just to make it to 2017 is clear evidence of that, the fact that it takes three generations to get the debt into focus is evidence of that and it will only work if debt relief is granted. Greece is no longer able to survive in the current climate, a fact that has been known for a long time and it had to be acted upon a long time before yesterday, but it was not. In all this the Greeks are now blaming the one person who (even though wrongly) tried to get a better deal for the Greeks, who tried any option to at least try to avoid that retirees would have ended up with 1 drachma to the Euro, because that would have been the result from ejection from the Euro (if the EEC could have pulled that off legally). So yes, I have hammered on Yanis Varoufakis (and Alexis Tsipras) in my previous blogs. In this case, there is an utter failure in my view to see where he acted wrongly.

There is one additional consideration to make. There is every chance that the plan started by Yanis Varoufakis needs to stay on hand, it might need almost immediate evolution and preparation should not seize. You see Greece is and remains the tinderbox for events that have been playing for a lot longer than anyone cares to ‘remember’. We might bash on certain Greeks (names I mentioned here), but Greece was not alone. Italy had done a similar thing. Now as both France and Italy represent 5 trillion in debt and the UK close to 1.8 trillion, the current status is that both France and the UK are still in a place where they could voluntarily leave the Euro. France is the initial ‘problem’ because what has been ignored for 2 years, what I feared would come is now almost a reality. At present Marine Le Pen is sitting on close to 40% of the prospective votes for the 2017 presidency, if she wins the Mayoral election of Calais (which is presently almost a certainty) and if she can achieve any decent improvement for Calais, the reality of her making a landslide victory in 2017 would become a mere matter of fact, in that light in 2017, the Socialist Party of François Hollande will face its biggest defeat in French history, they will be ten times worse off than the UK Labour Party currently is, so good luck with that. This is important, because Marine Le Pen could entice French National pride and walk out of the Euro, which would spark a similar thing in the UK at that point. Now we see the part that impacts Greece, when those two walk, Italy will have no option left the Euro will crumble and this plan, this approach by Yanis Varoufakis, this alternative plan would be the only option left for Greece and they would not have any time to implement it. So as ideas go, his alternative was not the worst for the people of Greece and there is a reasonable chance that when the Euro fails, this plan will safe that lives of millions of Greeks. So whomever shouted ‘treason’ against Yanis Varoufakis better be aware that this person himself could end up being roasted when my predictions come to pass.

The wolves are hungry, they want their pound of flesh and those in the game will sell out anyone that no longer seems to be a player in the international economy game.

I cannot and will not support that view!

 

1 Comment

Filed under Finance, Law, Media, Politics

The mere legality

Now that the Greeks have voted to bankrupt themselves (blaming everyone else in the process), it is duly time to take another look at the part I touched on in my article ‘Dress rehearsal (part 1)’ on July 1st 2015 (at https://lawlordtobe.com/2015/07/01/dress-rehearsal-part-1/). There the issue that came from Danuta Hübner, Chair of the Committee on Constitutional Affairs, European Parliament, with the attachment I added in the paper by Phoebus Athanassiou ‘Withdrawal and expulsion from the EU and EMU

Danuta Hübner mentions Art. 50 of the Lisbon Treaty as well as Art. 140 Treaty on the Functioning of the European Union (TFEU). So, this is something we need to look at, because Greece has decided not to be responsible and before the papers and TV drown us in emotional issues, whilst keeping quiet that the debt of other European nations might go up and not by a small amount.

So, yes, basically article 50 is about ‘withdraw from the Union in accordance with its own constitutional requirements‘, which does not mean the others can throw Greece out.

So far, that part seems almost impossible, as Tsipras keeps on claiming wanting to remain in the Eurozone, the image given is that he would stay in because article 50 is all about voluntarily removing one’s self from the Euro. Article 7(1) gives us “On a reasoned proposal by one third of the Member States, by the European Parliament or by the European Commission, the Council, acting by a majority of four fifths of its members after obtaining the consent of the European Parliament, may determine that there is a clear risk of a serious breach by a Member State of the values referred to in Article 2“, which leads to Article 7(3) “Where a determination under paragraph 2 has been made, the Council, acting by a qualified majority, may decide to suspend certain of the rights deriving from the application of the Treaties to the Member State in question, including the voting rights of the representative of the government of that Member State in the Council

In short, Article 7 is about reprimanding, even if all rights are suspended. That does not mean that they exit, which gives us two parts, the fact that France can walk away from the Euro to protect itself, yet Greece cannot get removed, which is not a given yet, there is a lot more to sift through. Article 2 is all about values, respect from Human rights and the rights of minorities, which does not have bearing on this precise case. The PDF that brought this to light, which by the way (due to an error on my side) is from Phoebus Athanassiou, my apologies for the earlier mistake in my previous blog!

The idea that the treaties should explicitly provide for a possibility of expulsion was discussed in the 2001-2003 Intergovernmental Conference responsible for drafting the ill-fated Constitutional Treaty, but was abandoned“, so not only were politicians the start of the mess, yet NO ONE had the bright idea to consider that one player might not be an adult giving them all permanent headaches is beyond hilarious, the fact that this legal bright mind (trained in the UK) is also a former Lawyer connected to Athens Law Firm of Tsibanoulis & Partners, and a former consultant for Government of the Republic of Cyprus just adds to the humour. His paper from 2009 and now we are all about to learn how we wasted millions on representations from the ECB whilst they were unable (as it seems) to properly protect the members. In all this both Yanis Varoufakis and Alexis Tsipras must be howling with laughter as we learn that most papers had not even clearly investigated the marketing term Grexit, so even as Brexit and Frexit might become reality in voluntary secession, Grexit will not happen against the will of Greece, as the facts presently are given, but let’s take a look at the steps that come next, because the PDF I added on July 1st is truly a treasure trove (Phoebus Athanassiou seems to be hindered by extreme levels of brilliance).

There is however another consideration, if we look at Article 2, where we see “The Union is founded on the values of respect for human dignity, freedom, democracy, equality, the rule of law and respect for human rights, including the rights of persons belonging to minorities“, the question becomes, as Greece decided to ignore equality and rule of law, are they in violation of Article 2?

Consider, that the creditors are a factual minority (one set on wealth and power of decision), the Greek government took out loans, they signed of these loans, as they are not complying with the execution of the agreed terms, are they not breaking the law? In addition, Article 3(2) gives us “The Union shall offer its citizens an area of freedom, security and justice without internal frontiers, in which the free movement of persons is ensured in conjunction with appropriate measures with respect to external border controls, asylum, immigration and the prevention and combating of crime

It is the part ‘prevention and combating of crime‘, so as we see that for decades Greece did not ‘uphold’ (read reform) taxation laws or properly prosecute tax evaders (one fined Bobolas ‘proper’ combatting tax evasion does not make), can we state that Greece is in violation in accepting the articles of the Union, as such, what could be made then?

I will be the first to admit that this is a mighty fine line, but in this game, could such a fine line be enough?

Article 3(3) is about several things, including cohesion, Economic, social and territorial. When we consider the economic part we get the thought that economic and social cohesion is an expression of solidarity between the Member States and regions of the European Union. This means balanced and sustainable development, reducing structural disparities between regions and countries and promoting equal opportunities for all individuals. The fact that Greece (one of many) has not been able to (or intentionally unwilling) to keep a proper budget, we get an unbalanced and unsustainable development, whilst these people (the previous administrations) have not been properly investigated or even prosecuted, which gives us possible transgressions of Articles 2, Article 3(2) and Article 3(3). So is expulsion still not an option in that hindsight?

So as we see that the makers of the articles painted themselves in a corner by only focussing on growth and ignoring accountability, we see that Greece either got really well informed, or just had the right page open on the right day, no matter what, the EEC is inheriting a mess it did not properly defend itself against, so even though the path was reached in another way, as we see this explode, it seems very conceivable that the fallout from this event will have a large impact on the chances of Brexit and Frexit as they will be voluntary. So even as the UN was bright enough to include their Article 6, where the member can send home in a not so nice way for ‘persistently infringing the principles of the Charter‘, it becomes clear that the overpaid makers of Treaty of Lisbon were a lot less clued in at this point (or so it seems).

As I see it, Dr Phoebus Athanassiou, Senior Legal Counsel with the DGLS of the European Central Bank (ECB) had nailed the issue fair and square in 2009, I am just appalled that journalists and politicians have either ignored the options, or intentionally misinformed the people, whilst the European member politicians had their ‘closed door‘ meeting.

As I stated on July 1st: “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“, is that why it was closed door? The fact that expulsion is pretty much impossible?

So as we now see “Angela Merkel, is to head to Paris on Monday for urgent talks with French president François Hollande over how to avert a growing Eurozone debt crisis” (at http://www.theguardian.com/world/2015/jul/05/germany-greek-referendum-anger-solidarity), which signals two things, the first is that Germany is not considering steps that will accelerate many things, pat of it will make Greece the pariah it should not have made itself, you see, the BBC and the Guardian are all about ‘negotiations’ and the, as we might regard it hollow statement from EU Parliamentarian Martin Schulz “he hopes that meaningful proposals from the Greek government will arrive in the coming hours because “if not, we are entering a very difficult and even dramatic time.”“, is that so? Because Greece can only leave the Euro voluntarily as we see it at present. Another voice, which is the Economic editor Robert Preston gives us even more to worry about. “The Bank of Greece could make unsecured loans to Greek banks without the ECB’s permission“, which could blow the Euro straight into the basement value, as well as “Or it can explicitly create a new currency, a new drachma, which it could then use to provide vital finance to Greek banks and the Greek economy“, which might be more likely, but does Greece have to go either way? Consider that the lacking law makers forgot to properly defend itself, now take into account that when Tsipras will let it all fall and food and medication are no longer an option, we get back to Article 2 of the Lisbon Treaty with “The Union is founded on the values of respect for human dignity, freedom, democracy, equality, the rule of law and respect for human rights, including the rights of persons belonging to minorities“, which means that the other EEC nations would have to foot the bill and come to the aid of Greece to deliver food and medication. All this because previous Greek elected officials refused to adhere to Article 3(2) regarding ‘prevention and combating of crime‘ (tax crime to be exact), as well as the economic cohesion thing, but the last one is one that pretty much NONE of the EEC members adhered too, so calling Greece on that seems slightly hypocritical from my side.

So as the creditors might resort to “Qu’ils mangent de la brioche” (let them eat cake), we see a dangerous escalation. I wonder how both Nigel Farage and Marine Le Pen will respond in the coming days. There is no doubt in my mind that this will impact Brexit and Grexit, especially as it will be voluntarily.

No matter how this plays, we already seeing images on how Greek retirees are getting hit all over the place. So as we see Tsipras playing ‘paper tiger’ stating “the vote showed that “democracy won’t be blackmailed””, my less ‘diplomatic’ quote would be: “No, you blistering idiot, you sitting on your hands and not seriously reforming taxation and prosecution laws is part of the direct reason of the mess we now see!” This is why we will now see articles like http://www.thenational.ae/world/europe/crying-greek-pensioner-the-story-behind-the-heartbreaking-photo, ‘Crying Greek pensioner’. Here we now see quotes like “I see my fellow citizens begging for a few cents to buy bread. I see more and more suicides. I am a sensitive person. I cannot stand to see my country in this situation.” And this is not even close to the tip of iceberg.

The next few days will be interesting to say the least.

 

2 Comments

Filed under Finance, Law, Media, Politics