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?".

Saturday, 1 May 2010

Gordon the Firefighter


Whilst listening to Gordon Brown during the 2010 General Election campaign it is difficult to escape an impression that he behaves like a firefighter in dealing with the current financial crisis. He gets into a combative rhetoric and posture and lambastes his opponents as threats to economic recovery. In 2008 Gordon was "the world saviour". Now he got into even a hotter role.


Indeed Gordon is a firefighter. But either a stupid one or, worse, one with a hero syndrome. All in all, "the world saviour" in the current firefighting role comes across as a bit of a Walter Mitty.


Since writing this article, the author found that Lord Lamont also compared Gordon Brown to an arsonist posing as a firefighter in his article over a year ago (albeit in a different context). It seems it is not only an unbridled imagination.

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