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Posts Archive

August, 2017

Not the briar patch, Brer Trump!

March, 2017

A Serious Case of the DTs

January, 2017

The American Yeltsin
Sunlight Through Troubled Times
Beyond Zealots and Cold-War Warriors

December, 2016

A Vandal at the Gates of Rome

October, 2016

Are you conscious?

September, 2016

Brave New World?

August, 2016

Stop, for a moment.

July, 2016

Rupert's Coup

March, 2016

Between a Shill and a Hard Case

July, 2015

Swimming in a sea of sugar

June, 2015

Information Rich, Attention Poor
Nerds need to get out more ...

March, 2015

There is a homunculus at the end of the garden path

October, 2014

Determination, not dreams
Welcome Home
Addicted to GDP
Irony?Karma? - take your pick

August, 2014

History? Whose story?
Marketing Ebola

July, 2014

As above, so below

December, 2013

A time for tolerance

November, 2013

Thinking out of the xBox
The old ones are the best ones ...
Welcome to the Gulag

October, 2013

A timely response to spying

September, 2013

Obedience and the Machine
Ban the bible?
Fracticide - don't do it.

July, 2013

Serfing, USUK

June, 2013

Deafened by gossip

May, 2013

Who needs words...?

April, 2013

Why would they stop?
It must be true

March, 2013

Beyond belief

February, 2013

RBS: doing Fine, not Time
Pillars tumbling down
Trouble with models
A matter of perspective

January, 2013

Royal Promo
Boiling the Lance
Boson Brains Rule

November, 2012

Burning symbols

October, 2012

Charles and Jimmy's little secret
Beach bums and Magi
A Reality Check
Happy Birthday

August, 2012

A journey through riotous times

July, 2012

Caring for life
Not everyone for Tennis?
A banker lie? Unthinkable!

June, 2012

A cynical ploy
Collateral damage for The United States of Europe
Will you walk into my parlour?
Beams and motes
From one Jubilee to another

May, 2012

Perturbations
A crazy idea
The course of time
Sorry, Harry

April, 2012

Cracks in the Rear-View Mirror
A keeper of sheeple
Principled Policing
Say goodbye to Betty
Lessons learned
Causality and good news
Manufactured irrelevance
Corporate responsibility

March, 2012

Poppycock - without question
Who's pushing your buttons?
Investigate the Blair-Murdoch Conspiracy

February, 2012

In Praise of The Seven Liberal Arts
The real story
When giving is taking
Giving it all away

November, 2011

Poking a hornets nest
Wealth of Nations poured away
Squeaky and the Paedophile Prince
Boiling frogs
Death of an industry
Change blindness
What a world ...

October, 2011

Gifts
Pictures and words
Screeching to a halt.
Taxing noise

September, 2011

Hand over your money
Breeding psychopaths
Mr Fox, is the hen house safe?
A ludicrous Conspiracy Theory
Can you believe your eyes?
Getting eye contact
Partners in Crime

July, 2011

It was the Wettins 'wot won it'

May, 2011

Kevin
Heir apparently

April, 2011

Putting Emergencies in Context
Underground networks travelling First Class

March, 2011

Be careful what you ask for
Water - a tale of two countries
Newspeak
Here we go again ...
Wake up!!!

February, 2011

Priorities
The right stuff
Revolution! ... and yet, and yet.
Follow the money
Shh - don't tell the children
Does the MoD have a Cunning Plan?

January, 2011

Met Office caught in winter weather whitewash
Read between the lines
The new parable of Noah
Banking on People

November, 2010

Wettins don't say sorry
It's just not fair ...
Remember, remember ...

October, 2010

Kindness sees no crime
Pundits in the frame
Killer drones target the middle class
A tale of two Charlies

September, 2010

A failure to discriminate ...
Good Grief
A rent-boy's rent-boy

August, 2010

Size psycho-fancy
Baiting a Wikid Trap?

July, 2010

... at the gates of Rome
Monday musings

June, 2010

Guilty - but not charged
Psychopaths at the door

May, 2010

ConDemned to the Shock Doctor
Driven by metaphor
Guns and Banksters
Death of Old Conker

April, 2010

Bankster at bay ...
Nuke Iceland?
Smokescreen

March, 2010

It's how you say it ...
Bullying Manner
Quelle surprise!
Iceland - showing the way.

February, 2010

Small steps to a far place
Seeds of silence

January, 2010

Liar
So who needs people?
Late and censored
Freedom for life

December, 2009

Patterns
Testament
Boy-friendly!

October, 2009

Fools served by Zombies
Webs
BBC dogs that didn't bark ...

September, 2009

Taken Hostage

August, 2009

Have a good weekend ...
High Frequency Trading ...
Money money money
Fit for a politician

July, 2009

Inside clouds

June, 2009

Fond thoughts of Tony Blair ...
A good day ...
Midnight musing

May, 2009

aaah diddums
Zal may ...

April, 2009

Echos of a dark past
Sharks in the Shadows
Worlds Apart

January, 2009

Money Matters
Killing History
Magic

December, 2008

Home improvements
Get the Picture?

November, 2008

Barak - the movie

October, 2008

Won't get fooled again
Bankers, all of them!

September, 2008

And The Winner is ...
Light relief
A Financial 9/11
That's Lucky!
On this day

August, 2008

Mark My Words

July, 2008

The Management Myth
Sense Making Questions

June, 2008

Beware this Griffin
42 Day Folly
A Tortured Silence

May, 2008

A new Dawn needed
Is Justin Webb A Neo-Con?
The Puppy, the Mountain and the Fascists

April, 2008

Attention Pays

March, 2008

Fat Cats and Pork Pies
Fed up Darling?
Swearing - it's just not British!

October, 2007

TsarkoMania

Worlds Apart   April 2, 2009

We are celebrating Pamela's birthday today. She baked some delicious date muffins which we enjoyed with coffee while listening to Melvyn Bragg and his guests discussing Francis Bacon. As they described how Isaac Newton had been influenced by 'Baconian' approaches to science, Pamela commented on the muffin recipe that she had used and how the sweetness came from the dates rather than sugar. As my brain flip-flopped between Newton and the sugar content of dates, I realised that, although seperated by a few feet, at that moment our inner worlds were miles apart.

A little earlier I had heard the economist, Jeffrey Sachs interviewed on the Today programme. When asked if he sympathised with the angry protesters on the streets of London, he replied: "Yes! When you beg and beg to try and raise one billon dollars of aid for the starving poor and then you read that Merrill Lynch used tax-payers money to pay it's staff $4 billion in Christmas bonuses, how can you not be enraged?". Clearly the Merrill executives inhabit a different world from the rest of us.

Today, the leaders of the free (and not so free) world are gathered together in London, resolved to save the global financial system. Behind the stage-managed theatricals (will Sarko walk out?, will the Anglo-Saxons condemn casino capitalism?) it is clear that they want to pump billions into the international system. It won't be billions of pounds (or dollars) of our money because it does not yet exist - but it soon will exist. On both sides of the Atlantic the throttle pedal is pressed hard to the metal for 'quantitative easing'. Thus while it is not our money at the moment, it will certainly be our debt.

Unfortunately our politicians are not on the same planet as their financial advisers. The financiers are not looking at billions of dollars, or trillions of dollars but at over one quadrillion of dollars worth of derivatives. According to this report, based upon data from the Bank of International Settlement, the amount of derivatives in play is approximately $1.4 quadrillion - that's £1,400 trillion or $1,400,000 billion or $1,400,000,000 million!

That puts the Obama/Geithner plan to pump $1 trillion into the US economy in context and renders it unlikely to be effective. Most people have no idea of how much of this debt is toxic because it is completely unregulated. Like the gullible audience of a stage magician, politicians have been looking in the wrong direction. While they have been worrying about monetary inflation, the real Weimar Republic-style hyper-inflation (that's what a bubble is) has already happened in the derivatives markets - and it is all off-balance sheet.

These derivative markets have voraciously fed off the real wealth created by ordinary working people around the world. Without regulation they have ballooned into obesity consuming more and more resources until they have become unsustainable. They are now too big to be supported by the available human resources and are collapsing under their own weight. Tax-payer money pumped into the banking system has simply disappeared into this enormous black hole.

This unsustainable financial illusion has underpinned the political delusion of our so-called leaders. As the detached world of politicians collides with this real world, politicians, like Fred the Shred before them, will find life to be less comfortable.


Posted by Nicholas Moore    6:48:11 PM
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