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, 10 March 2013

Greg Pytel: Juncker warns against the danger of war in Europe

For some years articles (and comments) on this blog warned that unless the current financial mess is solved (which was not that difficult) there was a real risk that the situation would develop into a war. For example in the article dated 23 December 2011, "Democracy on the ropes":

"The financial crisis that had started with the Wall Street collapse in 1929 ended up ten years later with the World War Two. It is impossible to tell whether history will repeat itself. But considering carefully the scale of the current financial crisis and the way it is managed by the world leaders, there is no particular reason to feel overly optimistic."

(This article was also published on OpenDemocracy blog: "Capitalism no longer exists: it's communism for the rich" on 5 December 2011.)

In today's Der Spieger Jean Claude Juncker, the Prime Minister of Luxemburg, who recently stepped down as the President of the Eurogroup after over 8 years, is quoted saying: "Anyone who believes that the question of war and peace is not an issue could seriously be mistaken" warning about the dangers of war in Europe.

The mainstream politicians are eventually catching up with glaringly obvious realities some 2 - 3 years too late.

The risk of war in Europe is quite real. And it will not just happen, As the economies were robbed and ruined - not just for now: for generations ahead - social unrests seem inevitable. They could be directed against those who caused the current economic mess. So why not direct them as a conflict between the nations, so people start killing each other under very noble slogans of patriotism and all that rather than those who stitched them up in this mess? This idea seems to be a no brainer. And like the current financial mess it will be quite easy to engineer. And it is also quite predictable.

In 1929 a Polish poet Julian Tuwim wrote a poem: "To the simple man". It is worth reading again.

PS. In fairness, in September 2011 British-born Polish Finance Minister Jacek Vincent Rostowski warned about the dangers of war in Europe in 10 years time. However his speech in the European Parliament in Strassburg did not get much traction.


  1. War in Europe or Asia? Interesting video by Kyle Bass @ https://www.youtube.com/watch?v=JUc8-GUC1hY

  2. Hi Greg,

    I hope that you are well.

    Your silence since the eruption of the crisis in Cyprus is almost deafening. I expect that, on your part, this is a very admirable avoidance of, "I told you sos". That being said, for the fans of this blog, it would be great to get some of your thoughts on this business in Cyprus or, at least, a referal back to a particular part of the blog that is worth re considering in light of this recent development.

    All the best, as always,