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?".

Wednesday, 31 October 2012

Greg Pytel: Modern kind of democracy

Today we could see a debate in the House of Commons about how much money the UK should pay to the EU budget. When the government decided to pay many hundreds of billions (if not trillions by now) of pounds in form of subsidies to private individuals, i.e. to the banks, to "rescue" them in form of bailouts, in form of quantitative easing or in form of massive implicit insurance policy from collapse (as the government still accepts that the banks exist in a form of being "too big to fail"), interestingly, there was no such debate in the parliament prior to the decision. Well this really epitomises what the modern democracy is all about.


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  2. We have an elected dictatorship not democracy! Don't hold your breath that this will change as long as the sheeple are more interested in the X Factor. By the time they wake up it will be too late, faschism is already showing its ugly head again.

  3. Hello Ron, I believe we have a representative democracy, i.e. a member of parliament is elected to represent 'you' the voter, but sadly they, the 'mp' are also members of a 'party', this allegiance, it seems comes first, therefore diminishing the method of representation voted for. It is necessary to make the representative truly responsible to his/her electorate if change is to be successful. Thus, make efforts to achieve this, never mind the large number of 'sheeple', they will always exist.

    The left has become the default because the right has allowed them to take the centre stage, it's so bad that even to suggest being right wing on such as the bbc will mark you as a bed fellow of Gengis Khan, personal responsibility and endeavour are serious deficiencies in the view of the left.

    Anyway, to the point in question, for the reasons I noted earlier no proper discussion will take place, few understand 'qe', and the media certainly do not, and many in positions of power/authority are on index linked lifestyles so don't give a sh*t about how thing pan out, they are 'insured'.

    I hope we can achieve a change to this dreadful mess without resorting to a modern French Revolution, because you can be sure that the outcome, if this were to occur, will be worse than what we have at present.