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Financial Alchemy by Ian R Thorpe.
For three decades it was alchemy. Banks and corporations pullede off the equivalent of turning lead to gold by turning liabilities to assets and then using those very dodgy assets to secure loans. It could not last of course, sooner or later someone was bound to work out how the illusion of turning debt to wealth was performed. Find out how here...

Financial Alchemy
by Ian R Thorpe.
2011-01-17
CREATIVE COMMONS: Attribute, non commercial, no derivs.
KEYWORDS: economics, economy, economists, politics, politicians, left, coalition, labour, conservative, banks, bankers, corporate, business, interest, debt, credit, crash, crisis

The phrase "credit crunch" ought to be self-explanatory, "Credit crash" however conjures a yet more graphic illustration of the state of affairs in the global economy. What should concern us given there is a mountain of evidence to back up these phrases is that there is so little political will to understand quite what went wrong in the global markets over the years leading up to an off-the-Richter-scale moneyquake that has since 2008 redefined the state of western society. The democratic world became addicted to the notion that the creation of debt – any old debt, not just, or even, boring, sound investment – was the creation of wealth. While we ordinary punters have gone cold turkey, paying down credit card balances, cutting back on spending, turning down the heating thermostat and wearing an extra sweater, governments are still hooked on spending money they do not have. The Obama administration is leading the world's biggest economy to ruin. The UK's governing coalition is at it with their student loans policy, merrily lending money to individuals, instead of investing it in the institutions that educate them, because in the future – the government hope – the Treasury will get their money back with interest. The problem the government have with student loans for Higher Education is during thirteen years of Labour's mismanagement of everything Higher Education was made into a sacred cow. New Universities were opened left, right and centre and the numbers of places available on degree courses in soft subjects increased exponentially. Thus the UK now has lots of people with degrees in media studies, journalism or drama and dance earning a meagre living as burger flippers and shelf stackers while employers recruit plumbers, electricians, mechanics and carpenters from among recently arrived immigrants. This has little or nothing to do with reducing the deficit now. The institutions get their money all the same, even though the risk being taken in lending it for interest rather than investing it for future boffinry remains with the government. All the institutions have to do is attract lots of students, in a "competitive market", and charge them as much as they can get away with, up to that £9,000 a year. The only difference is instead of going directly to Universities the money goes to the students in the form of a loan. Getting a degree will be like getting a mortgage. Safe as houses. Safe as countries that thought houses were a safe investment, countries such as Ireland, the USA and our own. Ireland, supposedly the beneficiary of a "bail out" by its generous European neighbours, it is actually being allowed to borrow money that it will be expected to pay back with interest sometime. As the Irish government got into trouble because it could not afford to pay the interest on what it had already borrowed, what chance is there of the bail out loans being repaid. So the bail out of Ireland and the one that saved Greece from total economic collapse and the ones currently being arranged for Portugal and Spain are more fine investments for the future. The justification for this profligacy clearly resides in the fact that Irish default would leave European banks exposed to Irish debt to the tune of £650bn, the UK and Germany featuring large in the reckoning. Well worth putting that off until the upswing comes, and the bailed-out banks can be sold again, at a profit. The fabled upswing. The recovery that borrowing for investment (stimulus) was going to produce. Fortunately our government, having learned on assuming power that Britain was just a few weeks away from having the International Monetary Fund step in to prevent the collapse of our economy (as it had done at the end of Labour's two previous periods in government, is doing the opposite, and "reducing the deficit". Though the public spending cuts are causing much wailing and gnashing of teeth among supporters of the spendthrift left who always seem to labour under the misapprehension that when governments run short of money all they have to do is print some more, deficit reduction was unavoidable and urgent. Over and over again people who delude themselves they are intelligent repeat that the deficit was created by the bailing out of the banks. WRONG!. The money spent on bailing out the banks is part of the UK national debt, the money the government owes the people – somewhere around £350tn. The deficit is the gap between what the government is spending each year and what it is earning. This is currently nearly £110bn, money that has to be borrowed at interest each year unless it is made to go away through a mix of cuts and tax increases. The way governments raise this money is by selling bonds. Many people would prefer to shift the emphasis to increasing tax revenues, even though Britain boasts no fewer than 30 million taxpayers, all handing over more than half their income in direct or indirect tax already. Sure, tax avoidance is an issue, but one that is difficult to solve without the unlikely advent of global governance and the abolition of currency in favour of electronic transactions for even the smallest purchases. Think of the implications of that and anyone who lives in the real world will understand why it is not going to happen any time soon. A surprisingly large number of people believe there is a yet more simple solution. Money must be wrung out of the very wealthy, who have multiplied their wealth so much in the last 30 years, in some other way. One suggested solution that showed an infantile failure to understand money was to clamp down on offshore tax havens. Unfortunately offshore tax havens though they are often tiny islands are sovereign nations. Heads of greedy, spendthrift administrations in large powerful states cannot just go sending in troops to tell these tiny sovereign nations (or autonomous provinces in the case of Hong Kong) how to order their affairs. If they did it might turn out that other large powerful nations find it suits them very well to have a tax haven just off their coast. Another way to squeeze the rich that has been suggested is asset taxes. Much of the wealth the left complains 'the evil rich' are not paying tax on is money is tied up in assets – property, pieces of art, antiques, jewellery, classic cars, stocks and shares. It is surprising how little liquid cash rich people have. Now the deluded left might have no difficulty believing that every rich person is sitting in their castle or fortified manor house, musket across their knees, pistols at their side and the hilt of a duelling sabre in their hand, waiting to repel the Revenue Men in tricorn hats who could burst in at any moment to seize the sack of gold doubloons on which all rich people habitually sit of an evening. It is not so of course, though the left love to talk of fairness but cannot see how it is unfair to tax the notional value of assets that have been bought with money on which tax has already ben paid, assets that are not earning income and may just as easily depreciate in value as appreciate. Could governments relieve the wealthy of these assets, confiscate them to be sold so their cash value can be realised? Just think that through. The first few, or few hundred sequestrations might raise moderately good sums but once it was seen the market was glutted with expensive houses, fancy cars, antiques etc. there would be few sales and revenue from those would be far below expectations. Many of these assets, like the houses people saw soar in "value", in the bubble economy would turn out to be of less value once they were on the market in quantity. That's bubbles for you.So 'squeezing the rich' So how do we finance restarting the stricken economies of the west. All the chatter on the left about shutting down the tax havens, squeezing the rich and borrowing to invest is big talk, but sounds rather silly coming as it does from small, envious people. In his book Beyond the Crash, former Prime Minister Gordon Brown talks of the economic crisis becoming visible when the dancing stopped. The dancing hasn't stopped yet, though it has settled into more of a They Shoot Horses, Don't They? shuffle. There is plenty more "deleveraging" to be done in the big consumer economies, and the wealthy will be, as ever, last in the queue for pain. So how do we start to tackle the problems which in fact are getting bigger rather than smaller. It would help if people, particularly leaders would be a bit more political and less ideological. For 30 years, government in many western nations (the UK in particular) has fled from infrastructural investment, waiting patiently for the market to provide. But the market has not provided a decent transport infrastructure, for example. Now investment in our railways will be provided by the poor sods having to pay exorbitant prices to commute on the dirty, unreliable local trains that shuttle workers to and from the cities each day. About the only reason so many people use trains to get to and from work is the urban and arterial roads are gridlocked. For the future we should be aiming to make commuting a cheap and pleasant experience so people currently using their cars. Whatever one's position on climate change, oil is not going to get any cheaper as competition for supplies from the huge populations of India, China, Indonesia, South East Asia and the rest of the developing world increases so an infrastructure investment in useable public transport would benefit society in generally by making life less stressful and the business community by increasing productivity (contented workers work harder and take less time off for sickness.) In education, after three decades of waiting around for the promised market solutions, there will now be more waiting for more market solutions. Labour's plans for state funded schools to be run as businesses, competing to attract pupils in the way universities have to compete to attract students crashed and burned before it go off the ground. The Coalition's academies programme, like Labour's, is about rewarding ideologically compliant with more money. Thus under the Coalition's education regime targets and statistics would still count for more than the actual quality of the product being delivered. Coaching to test will continue take precedence over educating for life. Labour were always quick to remind us investment in education has been increasing for years. Recently the Programme for International Student Assessment revealed that Britain has slipped from fourth in science, seventh in reading and eighth in maths in 2000, to 15th in science, 25th in reading and 28th in maths. Britain is "stagnating" while other countries are improving. Surely Estonia is not spending more on education than Britain is? The left's naive belief that the more money spent on the education system the better the education is undermined by complaints from employers hiring school leavers and recently from University administrators that school leavers with excellent paper qualifications are in need of remedial education in basic numeracy, reading and writing. Where will money for all this much needed investment be found? Ireland, Portugal, Greece? Student loan recovery? The sale of banks whose assets consist of overpriced homes and the mortgage payments they can wring from their deeply indebted owner-tenants, as long as they can stave off a price collapse. The economies of the west have run for decades on a kind of alchemy, not turning lead into gold but turning liabilities into assets. The culprits are not the general population who were encouraged to abandon prudence and caution in favour of being part of a global economy based on perpetual growth in a world of finite resources through the inifinite inflation of asset values, not with the banks because they were handed an opportunity by the economic alchemists, but government, big, centralising governments. It was madness, hubris. And as always hubris, contempt of the gods, leads to the most spectacular crash. Ask Icarus if you do not believe me. RELATED POSTS:

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Germany has thrown open her doors to Syria, declaring it will welcome all that country’s asylum seekers. In doing so, it has overturned a EU convention which insists that asylum seekers must register in the first country they reach. Germany will now cease handing out forms which ask new arrivals to declare where they landed in the EU.

Get Ready For The Collapse Of The Global Economy
In the years we have been publishing, Daily Stirrer financial correspondent Phil T Looker has consistently predicted the refusal of the market rigging banksters to acknowledge that the developed worlds debt driven economy was FUBAR might delay the economic catastrophe but that would only make the final collapse worse when it eventually happened.

U.S. Sheriffs fed up as 25 Americans are killed each day by illegal immigrants
Millions of American voters, disenchanted with federal government’s broken promises, endless small wars and contempt for the Constitution, are focusing confidence toward what some say could be the White House’s biggest secret fear: the local American Sheriff.

Thousands Take To UK Streets To Demonstrate Against TTIP ‘Corporate Stitch-Up’
Thousands of people in the UK will this weekend to protest against the “corporate stitch-up” known as Transatlantic Trade and Investment Partnership (TTIP), which has been negotiated in total secrecy between the European Union (Euronazi) bureaucrats in Brussels and for Washington, corporate lawyers working for the global conglomerates that own The Obama Administration ...

TTIP Corporate Stitch Up And Revival Of The Loony Left Poses Existential Threat To Nation States
The same threat is coming at us from left and right. A radical shift in direction in this article you might think, I would defend my pov by saying that two threats that seem to come from different directions are in fact the same threat, authoritarianism, and we are in danger of being caught in a pincer movement.

Greece’s bailout is about helping big business, not Greece’s people
One again we have to report how the bean counters of Brussels, the nasdty, vindictive little Nazi shits who sit in luxurious office and dream their wet dreams of global domination, are hellbent on destroying Greece and humiliasting its people.

Israel Shells Syrian Positions On Golan heights
Israel has launched artillery attack and airstrikes on the Syrian army positions. Tel Aviv says the attacks were in response to rocket fire from the Golan Heights. The Israeli army said four rockets landed in the Upper Galilee region and the Israeli-occupied parts of the Golan Heights. The rockets reportedly caused fires, but no injuries.

Google Algorithm Poses ‘Serious Threat To Democratic System’ How evil are Google really. Most people cannot even begin to imagine. We've previously reported how Google was set up with cash from the CIA when the potential of search algorithms to control information was recognised. We've discussed the ethically challenged philosophy of the nerds that founded Google. And we have highlighted their world domination ambitions. Now read on ...

Rioting Asylum Shelter Inhabitants Scream ‘Allahu Akbar’ as They Attack Police
Not long ago, with this page getting too long we had to make a separate page to cover how Sweden's loonytoons immigration policy is rapidly turning that once enlightened, liberal nation into a lawless, dystopian failed state. It seems we will soon have to do the same with Germany, where the anger German citizens at they way they are being marginalised as their government prioritizes the interests of migrants, many of whom are in the country illegally.

One drink a day increases the risk of breast cancer by 15 per cent, scientists claim
Another example of pseudo scientific scaremongering from Harvard University's Department Of Cutural Marxist Propaganda, using spurious statistics (when they cite risk they do not mean 15% but 15% of 13%) in supprt of liberal / left wing politicians anti alcohol campaign, which is not about health but an excuse to raise taxes. The whole house of cards is demolished here by a writer who really understands statistics and is not ingornant of human nature.

German Government Admits it Got Refugee Figures Wrong… Revises Upwards to 750,000 Migrants Expected This Year

The number of migrants crossing the Mediterranean and making their way (illegally) through the Balkans to Germany has passed the government’s worst casse estimates. The unprecedented influx has now forced Berlin to hastily revise the figure upwards. Although the German government had already acknowledged the need to revise estimates, the latest number is beyond all expectations ...

Labour Leadeship Contest, Corbyn Comedy Caper
When Labour elected Ed Miliband as their leader in 2010 it was clear the party had a death wish. The 'broad church' Prime Minister Harold Wilson spoke of in the 1960s, the alliance of intellectuals and socially conservative industrial workers who made up the party's core vote managed to coexist. Then came feminism, politically correct thinking, New Labour factions as the party started to tear itself apart. It looks as if we are in the endgame.

Food health fascism: Salt, Sugar, Saturated Fat, Alcohol, Cheese, Fizzy Drinks, Chocloate, ... if you enjoy it, it will kill you - maybe.
We are all familiar with those health scare stories that seem to pop up in mainstream media at least once a week claiming this that or the other will kill us. Few people spot the irony in that a few days earlier the same sensationalist rag will have carried a story under a similar screaming headline, claiming that scientists have found the stuff being demonised is in fact good for us ...

Another Big Lie About Ukraine’s War
When the army of the DNI [commonly called Ukraine’s ‘rebels’] are retired Russian military, the West immediately writes about "Russian aggression". And if retired (believe that retired) military mercenaries from the EU are fighting on the side of the APU [commonly called the Ukrainian government], why do the same media not write about "the aggression of the European Union?"

Massive Explosion in China: Do We Know the Full Story?
The massive explosion at a chemical plant in the city of Tianjin in northern China was a shocking eveny by any standard. But as usual in recent years, once the initial horror recedes the unfortunate accident narrative starts to unravel. The first thing we notice is that the disaster is very convenient for certain parties, the second is that official news reports just don't make sense, and the third is that eye witness reports contradict the edited news stories. Now read on ...

Syria opposition in Russia for talks on on Moscow - Damascus anti-IS coalitionSyria opposition in Russia for talks on on Moscow - Damascus anti-IS coalition
Syrian politicians opposed to the Assad regime, but against Islamic fundamentalist groups will be in Moscow this week to take part in talks on a Russian plan for a new anti-jihad coalition that would see Syrian President Bashar al-Assad continue as leader of his country. Given the implacable hostility betwee Syrian opposition groups, don't expect any agreements

Why Assad is Winning: Victory For Secular Ruler In Syria Will Transform the Middle East. While mainstream media continue to spin the Washington lie that US sponsored rebels are about to topple the Assad regime in Syria (the story they have been telling us for three years, an examination of the news feeds that mainstream news publisher and broadcasters use, which are free from Washington's propaganda spin reveal a different story.

Philo and Sophia - The Page For Lovers Of Wisdom
You might find some of the more bizarre fringes of philosophy and thought from history and from around the world here here, among the original thinking of our contributors. As with most pages in The Greenteeth Labyrinth this is not a page for academics or conventional students but for explorers and people who like to play with fresh or off - centre ideas.

Ugly Marxist Lesbians Demand Right To Menstruate In Public
The story of the militant femists munter who ran a marathon on the first day of her 'monthlies' without using a tampon or sanitary towel (they're a sexist symbol or the oppressive patriarchy donchakow) is not new. The London Marathon was run back in April and the story of Kiran Gandhi's brave stance against male oppression (along with pitures of the dark stain speading across the croth of her leggings) was ignored by mainsteam and alternative media alike.

While we watch Unkraine and Turkey The War Goes On In Syria
With mainstream media focused on ISIS and Ukraine amid, fears of an excalation of local problems into a war between East, West and Islam, we are in danger of forgetting nasty little civil conflicts like the one between forces loyal to the secular dictator Assad and the Al Nusra rebels who want to replace a secular dictatorship with an even more ruthless theocracy.

Boko Haram kills four on highway in NE Nigeria
Boko Haram Islamists shot dead four people and abducted five others in an ambush on a highway in northeastern Nigeria, local vigilantes said Monday.Several gunmen opened fire on a bus and a car near Nwajurko village in Borno State Sunday, killing four passengers and seizing survivors who tried to flee, according to witnesses.

The housing association that will no longer build homes for the poor
One of the largest housing associations in the UK last week announced it would no longer build social housing. Instead, its chief executive said, it will only build homes for sale, for rent at full market rates or for shared ownership. Furthermore, Genesis housing association, which owns and manages about 33,000 homes around London and the south-east, will consider selling or raising the rents on its existing social homes once they become vacant.

"Big Brother State": FBI Says Citizens Should Have No Secrets That The Government Can't Access
The surveillance state predicted in George Orwell's novel "1984" has gradually crept up on us. With no sense of irony, the government of the nation that calls itself "The land of the free" has led the way in trying to persuade citizents that the only way they can be safe from vague and largely fictitious "existential threats to democracy" is to surrender civil rights and freedom to determine our own destiny ...

OSCE saw no military hardware, weaponry crossing from Russia to Ukraine – mission head
One American attempt to raise worldwide support for military intervention in Ukraine was an allegation that US spy satellites had photographed Russian military convoys heading across the border into territory held by Ukrainian separatist rebels.
When challenged to provide proof the US government showed us some pictures so fuzzy and indistinct

Calais Crisis: Just Part of an Invasion That Exposes Government And EU Impotence


Many commentators, from Nigel Farage and Boris Johnson to Andy Burnham and Owen Jones have warned the migrant crisis at Calais will spread, diversify and worsen (the solutions differ, from Farage's sensible proposal that we close the border to the prepubescent Trotskyite Jones' idiotic suggesition that we scrap all controls and let a hundred million or so economic migrants flood into the country ...

Christianophobic’ Hate Crimes Treble in Five Years in Multicultural Paradise Sweden

Religious, racist, and xenophobic “hate crimes” are at their highest ever level in Sweden, with “Christianophobic” crimes seeing the fastest growth.A new report from the Swedish National Council for Crime Prevention reveals 2014 was a record year for so-called hate crime in Sweden. The Scandinavian 'multicultural paradise' experienced the highest level of hate crimes in recorded history.

Russia Just Sent out a Message NATO Should Better Listen To
The key paragraph from the latest official Russian naval doctrine is that Putin and his military advisers have sent a clear message that NATO encroachment is unacceptable. To be honest, there is nothing earth shattering in this, The Daily Stirrer and many other alternative media news and analysis sites have been warning for about two years that Obama's foreign policy was making conflict inevitable.

Kent Council Turns Retirement Home Next Door to School into Asylum Centre
In a move that echoes actions in Sweden and Germany which have displaced citizents from their homes to make way for 'asylum seekers' (foreign criminals), illegal immirants who make it through the tunnel or manage to stow away on ferries are to be housed in a former old peoples home which Kent county council originally closed because they said it would be too expensive to maintain.

Czech President Blasts Migrants: ‘Nobody Invited You Here’
The President of the Czech Republic told illegal immigrants (not refugees or asylum seekers) arriving in the country they must respect the country’s laws and customs or leave, telling them: “Nobody invited you here.”

Pointless
A young couple who climbed up a suspension bridge near Frankfurt to watch the sun rise prompted a major rescue operation when passers by reported

The Name Is Pronounced Nivea
The latest fashion in America is girls called Nevaeh. Virtually unheard of five years ago, the name – “heaven” spelt backwards – has become the 70th most popular name for baby girls in the country last year.

Financial Fraud: Market Rigging By Any Other Name
Over the past twenty years we have hasd many financial scandals, the dotcom bubble, misselling of investments, toxic debt, derivatives trading, maket rigging and interest rate rigging. A lot of the software used by these trading systems was developed with the intent of facilitating fraud.

Warring Migrant Tribes, Street Shootouts, Grenade Attacks, Government Says Its Multiculturalism?
"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, thanks to 'enlightened and progressive' immigration politicies, the elegantstreets of Sweden's gothic styled cities are now more like Chicago in the Al Capone era.

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.

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