If you are new to this blog, you are invited to read first “The Largest Heist in History” which was accepted as evidence and published by the British Parliament, House of Commons, Treasury Committee.

"It is typically characterised by strong, compelling, logic. I loosely use the term 'pyramid selling' to describe the activities of the City but you explain in crystal clear terms why this is so." commented Dr Vincent Cable MP to the author.

This blog demonstrates that:

- the financial system was turned into a pyramid scheme in a technical, legal sense (not just proverbial);

- the current crisis was easily predictable (without any benefit of hindsight) by any competent financier, i.e. with rudimentary knowledge of mathematics, hence avoidable.

It is up to readers to draw their own conclusions. Whether this crisis is a result of a conspiracy to defraud taxpayers, or a massive negligence, or it is just a misfortune, or maybe a Swedish count, Axel Oxenstierna, was right when he said to his son in the 17th century: "Do you not know, my son, with how little wisdom the world is governed?".

Thursday, 24 December 2009

Is the pyramid collapse about to resume?


Not unexpectedly for the author (and hopefully the readers, e.g. "Is another loot going on now?") of this blog the media are full of warnings of the double dip recession. After Joseph Stiglitz Nariman Behravesh gave similar warning.

It appears that it will not be a double dip recession but a continued recession. Readers are invited to revisit the first article on the blog "The largest heist in history".

In a nutshell, in 2007 the global pyramid scheme which is the root of the current crisis started collapsing reaching its peak at the end of 2008. The governments stepped in and pumped in trillions of dollars of taxpayers' money, so-called stimulus packages, into the financial system and stopped the collapse. It appears to have been a temporary reprieve and indeed a massive waste of taxpayers' money. The size of the financial pyramid is so massive that as soon as these stimuli are exhausted, the inevitable financial pyramid collapse will resume.

So let us relax and watch undoubtedly exciting events coming. Happy New Year 2010.
Posted by Greg Pytel at 22:42
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2 comments:

  1. Basically, our money went to Goldman Sachs and others. The wealth transfer occurred. The rich got richer. The poor got poorer. But the poor still have some money - so the game continues so the rich can get richer.

    Come to the USA. We're about to arise in 2010 and the pyramid here will come toppling down.

    The nation that arises from the ruin of the pyramid will be the only free nation on earth within 5 years.

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  2. Suzie, this is absolutely spot on summary. A pyramid mechanism was the fraudulent tool of that process.

    Thanks for reading my blog. If you think it is worth it, please pass the link to it to others.

    Best wishes

    Greg

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