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 14 January 2012

Euro Concordia


Yesterday, on the same day as the French AAA credit rating and the ratings of many other European countries were downgraded, the Costa Concordia cruise ship nearly sunk off the coast of Italy. According to a BBC report:

"We were having supper when the lights suddenly went out. We heard a boom and a groaning noise. All the cutlery fell on the floor," Luciano Castro told Italy's Ansa news agency.

The passenger said people were told there were electrical problems.

Others described chaotic scenes as the liner began to move violently.

"The boat started shaking. The noise - there was panic, like in a film, dishes crashing to the floor, people running, people falling down the stairs," said survivor Fulvio Rocci.

Those on board said the boat suddenly tilted to the left.

Cabin steward: 'We jumped into the sea'

"We told the guests everything was ok and under control and we tried to stop them panicking," cabin steward Deodato Ordona recalled.

It was about an hour before a general emergency was announced, he said."


With the deepest respect and sympathy for the accident victims and their families this reads uncannily like a report from the euro crisis.

1 comment:

  1. With the deepest respect and sympathy for the accident victims and their families this reads uncannily like a report from the euro crisis. black pakistani suit , black salwar suit ,

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