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?".

Sunday, 29 April 2012

Cardinal O'Brien does not get it


"Scotland's most senior Roman Catholic, Cardinal Keith O'Brien, has accused the prime minister of acting immorally by favouring the rich ahead of ordinary citizens affected by the recession. The cardinal also denounced David Cameron's opposition to a "Robin Hood tax" on financial institutions. And he urged Mr Cameron not just to help "your very rich colleagues."

The cardinal clearly doesn't get it. The current government is on a mission to build a "big society": bunch of volunteers providing key services and food banks instead of benefits and services guaranteed by the state, i.e. taxpayers, ourselves.

We are all in it together and ultimately we will all be equal: broke. Our, the taxpayers, main role has changed in the last 3 years from paying for services provided to us by the state to subsidising the financial services industry. If we take away the issue of super-rich who are getting richer as the super-rich have always been and always will be, this is the largest equalisation project in history: taking the middle classes to the cleaners. Even Karl Marx and his followers had not dreamt of such radical and progressive system: big society all in it together.

7 comments:

  1. The Cardinal does seem to get it from what I can see.

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