logoThe Daily Stirrer
Creating Wealth: How Banks Produce Money Out Of Thin Air
Politicians talk about encouraging entrepreneurs to create wealth,provide jobs and revitalise zombie economies. But entrepreneurs do not create wealh, they move money and goods around. Only the banks and the finance industry can create the wealth that drives the economy. Bankers do this by using asset values as collateral for loans. Learn how the system works and how it failed ....
Bankers And Entrepreneurs Creating Wealth By Pulling Money Out Of Thin Air
by John de Roe & Ian R Thorpe
2009-12-16
CREATIVE COMMONS: Attribute, non commercial, no derivs.
KEYWORDS: economy, crisis, finance, money, wealth, debt, interest, currency, entrepreneur, inflation, gold, markets, government, politics, politicians, asset, value, bank, nations

.

How To Create Wealth By Plucking Money Out Of Thin Air

Politicians have had a long running love affair with "entrepreneurs.", when seeking power campaigning politicians talk of supporting entrepreneurs who create wealth and jobs, once in power they court successful entrepreneurs hoping to raise funds for future campaigns and to cast themselves as successful. The politicos cling to a delusional belief that entrepreneurs, fabled creatures that they are, create the wealth and jobs that will spread prosperity and happiness among the electorate.

When Margaret Thatcher, the founder of this cult of entrepreneur worship, spoke of entrepreneurs, her eyes would take on a glazed look and he face the beatific expression of somebody who has just had a spontaneous orgasm.

Throughout the New Labour years in the UK, the "people's" party (so long as those people were lawyers, academics or were stinking rich) sucked up to entrepreneurs even more than their conservative predecessors had. Business adventurers were talked of in the reverential terms normally used when evangelical Christians discuss Jesus. Our present government, the coalition of Conservatives and Liberal Democrats government is sitting around, waiting with bated breath for entrepreneurs in shining armour to ride by on their white horses and magically restore growth to the economy. But there are no signs that a great boom in business activity is on its way.

The problem is politicians are not really very bright. I have always been honest enough to admit I was a lazy and disinterested student and French, as taught in English schools never engaged me. Even so I know that an entrepreneur enters and takes, they are opportunists, quick buck merchants, nothing more.

The idea politicians and the media are so fond of then, that Entrepreneurs create wealth is a fallacy, as much a fallacy as the other crackpot idea that has been foisted on the public in developed nations, that advances in science are always beneficial to humanity. Science does not solve problems, it creates them, (but that is dealt with in another article) and entrepreneurs do not create wealth, they collect it. It is more correct to say Banks create wealth, but really they only facilitate the creation of wealth. True wealth can only be created by the great mass of people in a society. Still, if you have wanted to know why politicians are so powerless to control the bankers, the answer is relatively simple. Banks have a monopoly on the creation of money.

Be careful not to misunderstand. Do not confuse creation of money with the stuff governments do, minting coins, printing bank notes and selling bonds to investors. That is not creating money, it is only revaluing the money in circulation. And don't write off the entrepreneurs, as businessmen have been wrongly dubbed. Bankers need business to do the vulgar stuff, the growing and harvesting, mining and smelting, metal bashing, chemical mixing, shipping, building and all the activities we describe as trade and commerce. It is trade that links the surreal world of banking to the real economy of bread and potatoes, bricks and mortar, shirts and SUVs. Bankers could sit in front of their trading screens creating electronic money all day and all night if they wished and they do wish. It is exactly what they did during the last "boom". But without a solid outlet into transactional reality (such as an sack of grain or potatoes, a machine or a garment, or the existence of a real asset, a building or even an unreal asset such as a certificate proving ownership of bonds, stocks or shares, their electronic money is worthless, just figures on a screen, no more meaningful than if you or typed a manuscript declared it worth ten million dollars and said: "Hey I'm rich"

To make it real money, like Tinkerbell needs people to believe in it. Similarly banks need depositors to put the surplus tokens they have earned for their time, effort, skills or produce to establish a pool of assets from which to lend and a pool of borrowers who believe in the real worth of the banks pool of assets.

Now that is basically how the banking system worked from the beginning of civilization until the late twentieth century. So where did it all go wrong?

What happened was that an era of growth that had spanned three thousand years because it was fuelled by increasing population came to an end. The way that growth economy had been sustained was there were more people thus more work was needed to feed them, build houses and provide those things that make life good. More work meant more wages and more good produced. This meant more assets to underwrite the value of the money banks created.

There is an idea, another fallacy, that there once was a bit of gold to back up every bronze coin, every bill of currency, token, negotiable item, ledger entry and bead on a usurer's abacus. There never was. The bulk of money was always money owed. There was only ever a token amount of gold, which is how we came to be able to borrow using property deeds, bonds, or valuable artefacts as collateral.

The banks always knew this of course just as priests (apart from American evangelicals) always knew God did not exist in any physical, tangible sense.

The reason the banks became so cavalier about ordinary customers and their savings, and even ordinary business people and their modest profits. Was that the era of population driven growth came to an end. Science and technology got so good at public relations they managed to convince bankers and politicians and business owners that machines could do most jobs more efficiently and cheaply than people. It was stated above that politicians are not very bright. Business people aren't either, they did not realise that their need of the proletariat was twofold. They needed people to work on their land or in their factories and offices but saw and were willing to grab onto the promised benefits of employing machines that do not talk back, take sick leave, demand pay rises or go on strike. Unfortunately they did not think things through properly, they forgot that they needed that great mass of people to buy their goods and services too.

As unemployment rose, partly because the population continued to grow as people continued to do what comes naturally and even did it more often because they had more free time, governments faced bigger bills for unemployment benefits, it being unacceptable in civilized societies to let people starve. In an attempt to solve rising unemployment the governments took to appointing armies of tax eaters to administer the unemployment, administer pollution, administer health, education, transport, industry, food, you name it the government administered it. And all this administration cost money. The difference between what governments took in through taxes, duties and fees and what they spent on administering things became known as the "structural deficit" and by the time of the financial crash in 2008 it ran into billions of dollars, pounds, Euros and whatever every month.

The banks were not interested in borrowers who wanted a few thousand for a new car or a conservatory, they craved borrowers who needed shitloads on money on a regular basis because they had invented an accounting trick that turned money loaned out from a debt outstanding into an asset which they could add to their pool and use to attract lots more money. That was the only link the money they created had to actual stuff that has actual worth, such as solid investments, belongings that hold or increase their value, labour and skills. The marriage of notional assets and structural deficits was made in heaven.

Banks lent money that did no exist, underwritten by assets the value of which was inflated to surreal levels, to governments that had reached the stage of having to borrow money every month simply to pay the interest on the money they already owed.

Meanwhile real business was struggling. Entrepreneurs create not wealth, but new paths around which money moves. Thus money can be distributed through a long chain of people, preferably nice and fast, picking up more value as it travels through. Essentially, it's like money laundering, except that instead of turning illegal cash into legal cash, the money-circuit turns abstract cash into real money, then delivers it back to the banks. Starved of the loan needed to finance new ventures, the entrepreneurs and businessmen retrenched and made ready to ride out the financial storms that were yet to come.

Clearly then there are two kinds of money, real money which is underwritten by objects that have worth, for which people will trade the products of their labour or more often in this era, their time and practical or intellectual skills. The real money we talk of then is simply a system of tokens designed to make it easier to exchange goods and services and enable people to build a reserve from their surplus in good times to help see them through the lean times.

Then there is 'fiat money' to use the technical term of the finance markets. This is manufactured money, created by putting a false value on objects and pretending that is their worth, the price people would be prepared to pay for them in the real world. How does that work? I have a piece of software developed a long time ago that would at a stroke nullify all internet threats, rid us of the nuisance of viruses, Trojans, browser hijackers, key loggers and all the other web shite, making the internet for browsing and business and freeing computers from the CPU and memory hogging processes that force us to buy a new PC every year. I say it is worth a billion dollars so I'm a billionaire. I could say ten billion but I'm not greedy.

So why have I not sold this brilliant program or formed a company to market it?

Quite simply because it addresses the basic flaw in the IBM Intel Microsoft motherboard architecture PC that has made each succeeding generation of these wretched machines more unfit for purpose than the last. So my security technique would render every PC on the market obsolete. Thus I will continue to be asset rich, cashflow comfortable so long as I live quite modestly. But the method of creating wealth I describe is exactly how the banks made money.

By selling mortgages secured on the property to high risk customers and then using financial sleight of hand to convert monies owed to securitized assets then bundling those assets into packages of collateralized debt obligations that could be traded in the markets they produced money that only existed as numbers in a spreadsheet's data out of things that had no value in the real world. But that money boosted their balance sheets sufficiently to make people believe perpetual economic growth was a sustainable goal. And because people believed in the sustainable bubble the banks were able to lend imaginary money along with the real money until nobody knew which was which.

One way or another however, the real money tends to end up in the banks bottomless pockets along with the imaginary money. There are lots of banks, in lots of countries, able to create wealth as long as they have borrowers, all of whose debts are counted as assets ( see above ). Even though the banks appear compete with each other for business, they are actually working together, because their monopoly on money creation makes them an international cartel.

The financial products or "investment vehicles" that created the banking crisis of 2008 were specifically designed to take the smallest possible amount of value in the real world and transform it into the largest amount of value possible in the bank world. They allowed the abstract values held by banks to become so distantly from real-world values, that no one within the cartel had the least idea what relationship the debt-assets of individual banks, even their own, had to real income, revenue and profits.

The banks are still doing plenty of business business. But they know that a lot of things, such as houses, say, have the vast value that accrued to them in recent years only because they made it happen. The abstract wealth, the spreadsheet money of banks escaped into the real world, upsetting the balance of their game, and now the bankers have no more idea than you and I about what's real and what's not.

In the real world actually actuality should be easily distinguishable from virtual reality and there should be no such problems. People deal with real money all the time and know that a house is worth what the highest bidder is willing to pay for it and a car or a loaf of bread are worth what the market will stand. If we think a thing is too expensive all we need do is decline to buy it. When most people agree, the price will fall, if most people do not agree we must decide to revise our opinion or do without. "Simples," as Aleksandr the Meerkat says.

Most of us however rely on entrepreneurs, or at least on business people, to steer the stuff we need or want towards us so that we can trade for it in exchange for tokens that represent things we produce or our labour or skills. But as well as buying stuff we want or need we are also charged for the privilege of taking part in the process of making abstract money real. That's tax.

What do governments spend our tax money on? The official line is that revenue from taxes is spent on just one thing, ensuring that our potential for taking part in money-go-round is maximized, by educating us, keeping us healthy, managing civic structures, providing some civilized amenities as incentives to make us feel that life is worthwhile and enriching for its own sake, and generally maintaining civil order so we can get out to work and play in order to earn and spend our small portion and be part of the process of giving the abstract wealth of the banks a place to go, so that it can rumble along collecting real and phoney value, like a avalanche collects snow. In that respect, government spending is itself an investment in banking.

Tax is also used to provide subsistence for those who for some reason or another are unable to extract cash from the money-circuits that are the sole creators of wealth. This category of people includes the old, sick, mentally and physically disabled and the children who we hope will one day take their place in the system. It also includes the idle, the terminally stupid, political rebels, arseholes, dickheads, wankers, wasters, drunks and drug addicts (did you know that alcohol and drug addiction are not recognised as disabilities) and the deadlegs.

The presence of many of these categories on the list of people who are excused work and qualify for the taxpayers largesse naturally creates some resentment, not only from the people closest to the pinnacle of the system but also people close to the bottom who work bloody hard for little reward only to find some idle, drunken, dysfunctional loser actually has a better standard of living than they do simply through having spent time studying techniques for playing the system. So the deserving poor, the low paid workers, have to have their income raised in recognition of the good work they do. Then the rich want more money to preserve their status. Then because raising the income of the bosses, investors and workers leads to price inflation the underclass, bottom feeders, have to get more money to preserve the illusion of fairness and inclusiveness. And they all depend on the banks ability to create more money.

Even the entrepreneurs are dependent on banks, contrary to what the government seems to think (although with a really successful entrepreneur the relationship becomes symbiotic). Upset the banks, and everything gets upset.

The banks seem untouchable, because they are. No matter how many weasel words are read from an autocue by Barack Hussein Obama or spoken from the heart by Manoman Singh or off the top of the head by David Cameron about reigning in the banks and imposing tougher regulation, the bankers are holding all the aces. Ironically, the current weakness of the banks makes them untouchable, just as in the past they were protected by their strength. The banks are sick, their corporate bodies corrupted by the lax regulation and easy money of recent decades. But all we can do nothing except wait, hoping that sooner rather than later they come to the realisation that to save themselves they must save everyone, not just their investors and bond holders.

RELATED POSTS:

De-Dollarization: Russia Ratifies $100 Billion BRICS Bank
A BRICS Bank - as an IMF alternative and to enable nations to become less dependent on the global reserve currency - was originally discussed at The BRICS Summit in 2012. Then at the 2014 BRICS Summit, the framework for The BRICS Bank was approved as "a system of measures that would help prevent the harassment of countries that do not agree with some foreign policy decisions made by the United States and their allies.

A Republic Always Decays Into Oligarchy. Here's Why
Almost a rehash of Schumpeter's warning, that capital alwaysd contains the seeds of its own destruction while socialism always leads to fascism. I guess the old Austrian economist was trying to tel us the only thing that works is chaos. I can live with that.

FUKUS axis imposes sanctions, Russian Oligarchs Shrug
So far in the Libyan crisis, the Syria crisis, the Iraq crisis and the Ukraine crisis, Obama and the European leaders have made a lot of noise and imposed a lot of meaningless sanctions (like confiscating the bus passes of retired Russian gengsters living in the west. And the Russians have just quietly got on with doing what they were doing.

America's GDP Surges 4% in Quarter 2 - Jonathan Creek Shows How The Trick Is Done
This morning the US Bureau of Economic Analysis, an agency of the Commerce department revealed Q2 GDP statistics which blew made nonesense of estimates, showing year on year growth for the second quarter at 4.0%. This was explained as the result of a surge in Inventories and Fixed Investment, while exports added only 1.23% to the GDP number. The full breakdown by component is shown below.

The Government-Corporate Complex Takes Complete Control Of The USA.
More on the corporate - military cartel's rush to destroy national sovereignty and establish a global totalitarian government along the lines of the scientific dictatorship envisaged by people such as philosopher Bertrand Russell, industrialist Vannavar Bush (founder of Rayethon) Aldous Huxley, Adolf Hitler, Benito Mussolini and Bill Gates among many others

If Free Market Capitalism Is The Global Economic System, WTF Is This All About?
One day we post a long article on how the corporate cartel is taking over the world, the next we read very credible information showing the corporate businesses that make up the cartel are being bought up by the central banks. Now nominally the central banks are owned by government, i.e. we the people. In reality however most central banks are controlled by the rothschild banking dynasty which hold jaw dropping amounts of government debt. WTF is going on?

Corporatism: Government of The People By The Technocrats For The Monopoly Men Of The Global Elite
While the left wail and gnash their teeth over the evils of capitalism and when they need a change scream and shout accusations of 'racist' anfd 'bigot' at those who try to enlighten them, the problem in the world is not capitalism but corporatism. And as Italian Fascist leader Benito Mussolini said, corporatism is fascism. Learn how the dupes who think they are left wing are helping fascim succeed in the article below

Foreign Exchange Market Rigging: Another Conspiracy Theory Exposed As Truth
The people who findly imagine themselves to be realists, rationalists and scientific thinkers have been yelling conspiracy theory for a long time now at those of us with the nous to work out what's really going on. well evidence is overrated because by the time it has come together the scam has been done and the perps (Goldman Sachs and the usual suspects) are away with the money.

Communities Can Beat Corporate Fascism - Local Activists Block Authoritarian Law
Yes, you read that right, a small farming community has thwarted the plans of corporate agrigulture and their buddies in the politicised justice system. Self educated guerilla lawyers found a way to block the corporate giant using it's legal status as a "person" to override local objections to its plans by claiming its "rights" were being violated.

The US Government's Dirty Little Secret: We Spent Your Gold
Some time ago we asked what the US Federal exchange had done with 300 tons of Germany's gold reserves that prevented it being returned to the Germans when they asked for it. Well we didn't stop at asking, we did some digging (not for gold but truth) and what we uncovered is worrying.

Financial Crisis? The Dow Has Already Fallen More Than 1000 Points From The Peak Of The Market
The dramatic falls in world wide stock markets over the past week hows that the Daily Stirrer finance expert was correct in predicting this, such recovery in the global economy as has happened since 2008 has been the result of printing money and manipulating the markets. This latest action is part of a massive heist by the bankers to drain the value from our savings and pensions

Germany's Missing Gold, America's Empty Vaults
What is behind the refusal of the US Federal Exchange to hand over the 1500 tond of Germany's gold that were stored in the vaults of the Federal Exchange but that since Germany demanded repatriation of it's asset, the Americans have refused to allow German representatives or independent auditors to have sight of. Has the American government spent all Germany's gold?

How the new elite are creating an evil empire

Democracy is in greater danger that it has been in the past 200 years, even The Third Reich did not threaten our individualism, personal freedoms and the right to determine our own course in life and the so called "New World Order", the wealthy and powerful elitists and academics who are now using fear as a weapon to coerce populations into complicity with their agenda. The aim is, and has been for fifty years, to create a global totalitarian governments. Bankers Face Another Mis - selling scandal
Just when you thought it was safe to spend money ... Britain's leading banks including Barclays, RBS, Lloyds TSB and Nat West are facing a new mis - selling scandal after offloading dodgy products on unsuspecting businesses ...

Making Money Out Of Misery You may not have borrowed money yourself but you know how the business works, you take out a loan, say £$€1000 (pick your own currency) to buy a car, improve your home or for a host of reasons, and you agree to pay back over a fixed term the amount borrowed plus interest because the lender has costs and deserves a modest profit for accepting you as a risk. You might expect to pay back in total ...

The Second Wave Of The Debt Tsunami or The Coming Of The New World OrderAs the debt crisis stumbles on in Europe, the U S A and around the third world all politicians and governments can do is keep kicking the can further down the road. Nobody is prepared to admit that the economic model based on perpetual growth funded by personal debt and public spending has failed. So where do we go from here?
Inflation Falls Again As Government Continue To Talk BollocksInflation fell to a 15-month low of 3.4pc in February helping ease pressure on cash-strapped consumers and Chancellor George Osborne ahead of Wednesday's Budget. The consumer prices index (CPI) is down from 3.6pc in January as a drop in prices for housing, lower electricity and gas bills electricity, and cheaper air fare pushed overall inflation down, the Office for National Statistics said. However, the fall was not as much as expected - economist had forecast ...
Public Borrowing: Just How Bad Will The Crisis Get
Before The Pubs Close
Dollar Is Sinking
Economy Of The Living Dead
Euro bond crisis
Naked Finance
Debt Threat To Civilisation
Eurozone meltdown: It's the sovereignty, stupid
Have We Forgotten How To Be
Let Down By Hope
Magic Money
Luddites
The Roots Of America's Economic Collapse The Apprentic Prime Minister
Bilderberg Bastards
Quantitative Easing - The New QE Panel Game
The Tyranny Of Bricks An Mortar
IMF Warns Obama - Cut Deficit Or Else As Bond Traders Short American Bonds
Obama's Economic Headache
Chasing Bubbles

If you liked this, please give it a boost

Bookmark and Share

Close Window and return to menu
INFORMATION & NAVIGATION

navigate

navigate

CATEGORIES

Fiction
Animal related
Art Menu
Belief, Faith and Religion
Celebrity mocking and knocking
Climate and Environment
Comedy, Satire, Humour
Debt Crisis and Money Matters
Driven To Drink
Education Menu
Fear and Panic
Health Menu
History - new perspectives
Humanitas
Jobs Crisis
Living Within The conspiracy
Middle East
Nanny State and The Thought Police
Past Perspectives
Philo & Sophia
Politically Correct Stupidity
Fools & Dreamers
Politics and Economy
Latest News Science and Technology
Sex and sexuality
Sport
Weird and Supernatural
SNACKS (sub topics)
The Ageing population
America
Religion and spirituality
Climate Change
Comedy and Humour
Education is overrated
The environment
Europe
Health
Internet Technology
Jobs and employment
Money and finance
Myths and traditions
Nanny Orwell
People and Places
Science, technology
Society
UK politics
War
World Politics

Our Internet Places
Scribd
Blogster
Ed Butt at Bubblews
Wikinuts
Boggart Blog
Little Nicky Machiavelli
Boggart Network News
Greenteeth Bites
Greenboggart
Boggart Blog Central
Daily Stirrer briefing
Boggart Network News
BOGGART BLOG ARCHIVES
BBselect001
BBselect002
BBselect003
BBselect004
BBselect005
BBselect006
Bubblews Archives
[ 1 ] [ 2 ] [ 3 ] MULTI MEDIA
Spoken Word
Video
Music
Graphic Art

Home
Top Of Page
Back Catalogue
Our Comments
FEATURESThe Daily Stirrer
Boggart Blog Central

Comedy Main
Comic Verse
Cartoons
A Tale Told By An Idiot
General
Fiction
History
Thought
Poetry
Science & Technology
Elsewhere

Boggart Blog Daily
Little Nicky Machiavelli
This writer at Authorsden Gathering
Delicious Greenteeth
Boggart Network News

More From Around The Labyrinth

LATEST POSTS & COMMENTS

Warring Migrant Tribes, Street Shootouts, Grenade Attacks, Government Says Its Multiculturalism? WTF Is Going On In Sweden?
"Sweden, that's where they commit suicide and the king rides a bicycle," a character in an Alan Bennet play famously said back in the 1980s, a reference to Sweden's reputation as the most boring country in the world. That reputation has long gone, the elegant streets of Sweden's gothic styled cities are now more like Chicago in the Al Capone era. Scandinavia's biggest nation state is in the grip of a terrifying crime wave instead ...

Banks want us all to have 'tap and pay' cards... even though they're a criminals wet dream
Unfortunately while the banks and tachology giants have been ironing out problems with contactless payment technology (like its habit of doing your good deed for the day by paying for other people's stuff), the crooks have been forging ahead with non-accidental ways to rip off your card. Thieves can easily steal key data from contactless credit and debit cards using equipment bought "easily and cheaply" online, consumers magazine Which? has warned UK consumers.

Gay Rights Lobby Calls for Ban on LGBT Therapy After Finding Hundreds of Health Workers Believe in a Cure The Daily Stirrer has noted many times that sheeple on the left of the political spectrum get very confused on finding not everybody agrees with their world view. but rather than accept they are bigots they turn on those who dissent. No surprise then that gay activist working in the NHS are turning on African, middle eastern and east Europan colleagues who believe homosexuality is a sin.

Has Nasa found another 'Earth' in corner of Milky Way?
The science clowns are going off their heads again, getting over-excited about the 'discovery' by the Kepler project of Earth 2, an earth like planet that it would only take twenty million ryears to reach in our fastest spacecraft id. What planet do these do these idiots live on?

So Who Are The real Racist Bigots - Those Who Have Opinions or those who would abolish free speech?
Since we began publishing in 2009 we have warned that the real enemies of freedom, the ones who would turn certain sectors of the community are not the conservatives and libertarians, but those who try to mask their fascistic politics by calling themselves left, liberal or socialist. If you want to know what socialism is really all about read up on Stalinist Russia or Maoist China and if you want a comparison for the 'liberal values of Labour and Social democrat voters in Europe or American democrats, look no further than the medieval Inquistion and their brutal purges of 'heresy'.

Pissed Off Locals In Europe Torch Refugee Centres To Resist Enforced Placement Of Immigrants

Citizens in Germany and Italy have taken to burning the resettlement centres in their communities designated to provide accommodation for people who have crossed the Mediterranean to enter Europe illegally.

Riots In Athens As Betrayed Greeks Take Back

Democracy
A converted country inn, forced to close due to punitive EU taxes and restrictive laws, then renovated at taxpayers expense for use by illegal migrants has been burned down in Reichertshofen, Germany after locals discovered it was being prepared to become refugee accommodation.

The Day The EU Died - Destruction Of Greece Shows True Fascist Nature Of The European Project Some inside information on the political stitch up that has turned GreeThe Day The EU Died - Destruction Of Greece Shows True Fascist Nature Of The European Projectce into a vassal state and humiliated the Greek people for the purpose of furthering the neo-Fascist 'ever closer union' agenda of the bureaucratic dictators in Brussels.

The Bansturbator Diaries - Ban Everything And Tax It Too
Red Meat, fast food,, Pies, Pizzas, Cigarettes, Alcohol, and now sugar. The fun fascists are on the rampage everywere. Is there anything we can do to stop them? Yes. all we have to do is ignore them, especially the ones who try to claim some kind of authority by using the word 'science' far more than is necessary.

Spain Goes Full Police State; Government Enacts Law Forbidding Dissent, 'Unauthorized' Photography Of Law Enforcement
Spain is now a police state again. On July 1st, its much-protested "gag" law went into effect, instantly making criminals of those protesting the new law. Not since the death of General Franco has free speech been a crime in the country.

TTIP in the EU: Rejecting Democracy
Trade deals have traditionally been about lowering particular tariffs for imports and exports of goods from one country to another. Trade is not as simple as that any more and for TTIP tariffs are a tiny part of the negotiations because tariffs between the EU and US are virtually non-existent these days. Trade in TTIP is about issues that are relevant and important to us all: from which services are publicly provided, to the safety of the food on our plates

Greece, Monetary Union and Europe - Omnibus
The Greek financial meltdown and inevitable exit from the European Monetary System (Euro) and possibly the EU may be staved off a little longer but will happen. If the burden of Euro membership can wreck strong economies like France, Austria and The Netherlands, how can a basket case like Greece ever cope.

Hackers Hacked - Government Ties Exposed
An Italian company develops hacking tools for government security agencies itself became the target of a hacker attack, resulting in its internal documents being leaked online and its deals with numerous governments being exposed.

Four Converging Crises Could Destroy Europe
Four great crises around Europe’s fringes threaten to engulf the European Union, potentially setting the ambitious post-war unification project back by decades. The EU’s unity, solidarity and international standing are at risk from Greece’s debt, Russia’s role in Ukraine, Britain’s attempt to change its relationship with the bloc, and Mediterranean migration.

Oregon bakery that refused same-sex couple owes $135,000 in damages
This page started by looking as a case of personal liberty versus gay fascism in Belfast, Northern Ireland but looks set to spread in all directions. While the Belfast Gay Cake case was, to the best of our knowledge, the first of its kind in Britain, there have already been a number of high profile cases in which the authorities have deemed that gay bitchiness trumps the civil rights of straight people,

Troika Is Manoeuvering To Rig The Greek Referendum
According to Greece's finance minister Yanis Varoufakis, the troika, the IMF, European Central Bank and EU Commission is planning to rig the outcome of the Greek referendum on whether to accept further austerity measures in return for bail out cash

Ending the Ownership of Money
It must be common knowledge by now that some of the world’s most economically powerful nations are insolvent due to the burden of sovereign debt. These economies are held together through by the faith of citizens and businesses in the currency. If that faith evaporates, the leading economies will crash as voters realise the only thing underwriting the economy is debt.

Climate Change: Physicist Asks Is a Deadly Ice Age on the Horizon?
The last ice age ended approximately 12,000 years ago, and since then we’ve been enjoying a pleasantly warm “interglacial period.” But given that an interglacial may last only 12,000 years, we’re confronted with a scary prospect: Another ice age may be nigh.

Government Paid Trolls Are Using 'Psychology-Based Influence Techniques' in Social Media
Have you ever come across someone on the Internet that you suspected was a paid government troll? Well, there is a very good chance that you were not imagining things. Thanks to Edward Snowden, we now have solid proof that paid government trolls are using “psychology-based influence techniques” on social media websites such as YouTube, Facebook and Twitter.

Zuckerberg reveals Facebook Working On Apps 'Smarter Than Humans'
In an online Question and Answer session this week Facebook supremo and founding megalomaniacal sociopath Mark Zuckerberg announced that his company is engaged in building AI systems "that are better than humans at our primary senses."

Boko Haram attack on Nigerian village leaves nearly 100 people dead


According to eye witnesses nearly 100 people have been killed in an attack on mosques and houses in a village in north-eastern Nigerian by suspected Boko Haram militants, news feeds reported today (2 July 2015).

Sleepwalking Into Another Middle East War To Make Obama Look Good
Watching the news feeeds, we see The United States has blocked attempts by its alleged Middle East allies to fly heavy weapons directly to the Kurds fighting the Islamic State jihad in Iraq.

War, Famine, Plague and all that
It is no secret that “news” media in the developed world is owned by a few corporate empires whose ultimate owners' are financial operators whose reach extends into manufacturing, extraction industries, big agriculture and food,

The Day the Earth Died - And Why The Green Lobby Did Not Raise A Whimper In Protest
By selling their votes in return for pledges of government spending in their states the current crop of US Senators have effectively transformed their nation from a representative democracy to a dictatorship in which the President can make law on a whim.

Artificial Intelligence: Will It Kill Human Society?
The media, the so called 'experts' and politicians hail every technological advance as if it will btransport us from reality to a utopian paradise. but does Artificial Intelligence and related internet and computer technology pose theats to human society that far outweigh any possible advantages? Whateve, Google plan to put machines in our place on top of the food chain.

City of Berkeley to require cellphone sellers to warn of possible radiation risks
One of the fist themes of this blog was that mobile phones (and wi-fi etc.) do pose a risk to health. Here's the latest admission that the sceptics voices were right, from The Guardian

Have US tactics only helped to make ISIS more powerful?/b>
We have questioned the US led efforts to defeat ISIS in the middle east many times, pointing out that every time the western alliance steps up opposition to the establishment of a news Islamic Caliphate, Islamic State seem to get stronger. 'Conspiracy Theorists', our critics yell. So let's look at opinion from around the world that concurs with ours.

Refugee host school in Germany bans revealing clothes
We have asked before and no doubt will again, when the citizens of a nation are constantly asked to give up their freedoms and change their behaviour in order to avoid offending new arrivals from medievalist cultures, whose effing country is it anyway.

More Violence In Malmo As Community Centre Burned
27 'youths' arrested after shootout in Rosengård
More trouble in Sweden as the ruling elite's determination to had the country over to lawless gangsters and tribalists from barbaric third world cess pits sees violence and inter - tribal conflict continue to increase in the once peaceful suburbs of Swedish cities.

Refugeee Host School In Germany Bans Short Skirts As They Wind Up Muslim Boys
We have asked before and no doubt will again, when the citizens of a nation are constantly asked to give up their freedoms and change their behaviour in order to avoid offending new arrivals from medievalist cultures, whose effing country is it anyway.

How Ironic That Humourless Warmageddonists Will Not See The Irony
I've lost count of how many times this blog has highlighted the extraordinary consistency with which politicians and scientists working in concert manage to achieve the exact opposite of what they are aiming for. One might be tempted to think that the first step in proposing a scientific solution to any problem is to first understand what harm the unintended consequences of your solution might cause.

Saying The Unsayable
Watching BBC Question Time last Thursday, I was struck once again by the way it was left to one of the stock hate figures of the left, Melanie Phillips, to actually pronounce the great, clunking truth that the online activities of left wing hate mobs have rendered unsayable.

Mediterranean Boat People Crisis Threatens European Identity
As European leaders gathere for a summit meeting on the Mediterranean Immigrant crisis, Italy's Matteo Renzi has warned that Europe must find a solution to the ever increasing flow of migrants from third world locations or risk losing its identity.

Saying The Unsayable: Today, Melanie Phillips
Watching BBC Question Time last Thursday, I was struck once again by the way it was left to one of the stock hate figures of the left, Melanie Phillips, to actually pronounce the great, clunking truth that left wing hate mobs have made unsayable.

Russia Outmanoeuvres the west again
While mainstream media (and even some of the more rabidly fascistic left wing bloggers) have been trying to demonize Russia as a way of drumming up public sympathy for Barack Obama's efforts to start a shooting war with Moscow, we Boggart Bloggers and ...

America and UK Lead the World in Climate Scepticism Several times now it has looked as if the climate chance scare was over as the enthusiasm of climate scitentists for changing real world data to fit in with the predictions of their mathematical models has been exposed. But as the scare was never about the environment, but was a scam to redistribute wealth from rich to poor countries, the politicians are throwing their propaganda budgets behind it again.

Sham Marriages To Beat Immigration Laws Are Out Of Control
With main immigration news on being dominated by the Mediterranean boat people crisis and the masses at Calais hoping to stow away in a freight container, we forget that another way of getting somebody into the country is the sham marriage. Numbers involved may be small, but it is another indication of our governments' failure to address the immigration problem.

Mediterranean Immigrant Composite
The flow of undocumented migrants from Africa trying to cross the Mediterranean from the coast of Libya to Italian, Greek and Maltese territory seems unstoppable. Two factors in the problem however have been western (particlarly American meddling in the internal affairs of African states, and wester aid leading to a population explosion national infrastructures are unable to cope with. And of course European leaders haven't a clue how to deal with the problem.

De-Dollarization Du Jour: Russia's Largest Bank Issues Yuan-Denominated Guarantees
Leading the charge to multipolarity and de-dollarization are Russia, resugent despite economic sanctions and the rising superpower in waiting, China. The downgrading of the dollar is clearly demonstrated in the launch of the BRICS bank and the establishment of the AIIB.

Older Posts index