84.For myself, I believe that the issue has gone too far, and the genie is out of the bottle. The only way these organised criminal enterprises can be dismantled is for a root and branch reform of the banking sector, breaking up the big conglomerates, jailing a lot of 'too big to jail' bankers, and reintroducing an environment where banks become the servants of the community and the economy, and not high-rollers in the most unregulated casino on the planet. 85.So, this Commission is an excellent opportunity for Government to take a close look at the way in which the financial sector is policed, because unless something drastic is done to change the way in which the financial sector is regulated, then we shall continue to suffer from the kind of scandals that have made London a cess-pit, the venue of first resort for every con-man, scam-artist and bankster in the world, rapidly ensuring our descent into the ranks of the global pariah states. / Rowan?
Do you know this "author", Archytas? Seems to make eminent sense. Here in the U.S. they have a metaphor they call the "revolving door", whereby government regulators in many areas (including financial) upon leaving their government jobs then proceed to get lucrative job contracts working for those private businesses that they oversaw.... and the "door" revolves in the other direction, as well.....conflict of interest, basically.... the regulators hold the interests of the private businesses that they "regulate" above the interests of the general public that the regulators are supposed to protect. Through campaign donations, the same holds for politicians....What I mean to say is that just "exhorting" the government regulators and the agencies to perform their "duties" is not enough incentive, practically....There should be no possibility of future employment whatsoever for former regulators (or their kin) in any private enterprise that they have overseen... and conversely no newly hired regulators should have any prior history of having been employed or financed by the private enterprise sectors they regulate.... This is all straight-forward common sense....As further incentive.... in the event of discovered wrong doing in any government regulated private sector.... the regulatory agency that failed to spot the wrongdoing should be penalized to an extent, as well.... then the regulators may have a reason to do their jobs... earn their pay....HAR... will it happen? On Thursday, March 28, 2013 5:46:45 PM UTC-4, archytas wrote: > > There are phrases in all languages I have a smattering of that mean > something like 'when the scales fall from your eyes'. I see Cyprus > has wheeled three judges out of retirement to 'investigate' the > collapse - sounds like the prelude to a cover-up. I and some similar > old duffer once colleagues think these matters would be best left to > cops working without hindrance under existing criminal law. This s > quite interesting - http://rowans-blog.blogspot.co.uk/ - he's in > Manchester next week and I may go along. > > On Mar 28, 3:56 pm, nominal9 <[email protected]> wrote: > > By the way, Archytas.... I think you've been following this story... > here's > > an update, in case you missed it... > http://www.nytimes.com/2013/03/29/nyregion/search-warrants-reveal-ite... > > I have no respect at all for any of the "state officials" in this > area.... > > I can honestly say that in my felt opinion the problem largely a matter > of > > social status and connections... People of relative social "import" who > are > > NEVER placed under the normal scrutiny of any authority... for reasons > of > > wealth, position, reputation, nepotism, cronyism, etc.....has very much > to > > do with it. As for the young fellow's psychological problems, they were > > "likely" compounded by, rather than ameliorated by, the family's > > standing....Blame the parents?... not really, but blame their "class > > hierarchy" self-regard above the welfare of their own son.... I can see > > that.... > > And it is that same "class hierarchy" self- regard the the "state > > officials" here in Cunt-Etiquette (the Constipation State) have first > and > > foremost on their minds....along with on the minds of the rest of the > > "upper crust"... sadly probably including the relatives of the > victims.... > > People don't like it when I say things like this.... but it needs > > saying....so I mollify it a bit ("probably")... > > > > > > > > > > > > > > > > On Wednesday, March 27, 2013 5:39:29 PM UTC-4, archytas wrote: > > > > > I don't think we've heard the end of the Cyprus thingy. I expect the > > > following in the next few months: > > > 1. The amount of money in the Cyprus banks will turn out les than > > > expected > > > 2. A long list of worthies, including Lev, my mate in the Russian > > > mafia, will have moved their funds out either long before or just > > > after the public announcement of bail-in > > > 3. A whole load of dodgy securitised packages of Greek dead donkeys > > > and bags of rocking horse droppings will be found in Laiki as though > > > someone already knew it was a bad bank as far back as 2009 > > > 4, A lot of very ordinary people will see their life savings evaporate > > > 5. The price of my horse's head futures will rise as my prediction on > > > the market demands for complex messaging structures come in > > > 6. Banks in Spain, Italy and France will start emitting Hawking > > > radiation - Bankia in Spain has just been bailed out for more than > > > Cyprus and is still so worthless they are packaging up the shares in > > > bundles so they meet the one cent minimum quote under Spanish Law. > > > > > Back in Blighty we are told by the BoE that our banks need £25 billion > > > to meet capital requirements after they take coming hits of £50 > > > billion. Severe under-calculation here - most bank assets across the > > > globe are based on an equity and property market held up by QE and > > > other dodges - a conservative estimate of leverage is 25 : 1 - and > > > they've been lying about everything else - so roughly a 4% drop in the > > > real assets could start wiping people out in margin calls Cyprus just > > > might be something good - the beginning of a strategy to go after very > > > large amounts of ill-gotten loot from Singapore to Switzerland - maybe > > > starting in Luxembourg (where financial 'assets' to GDP is 21 : 1 - it > > > was only 10 : 1 in Cyprus). If I was doing the enquiry, I'd have > > > 'systems in place' (men ashore) so no one could wire money out of > > > these places without my being able to track it and seize it I guess > > > $20 to $30 billion might be sequestratable - the means might have to > > > be very devious. > > > > > It's hard to know what the numbers in this farce mean. I think a fair > > > example is the £25 billion 'need for capital' in UK banks. The UK > > > financial sector employs 4% of Brits but receives 40% of all bonuses > > > paid in the UK. About £60 billion have been paid out in the last 5 > > > years - so if they had been cut in half UK banks wouldn't need more > > > capital. You can see this thieving through obscene payments is a big > > > part of the problem. The other big element is legal Ponzi - the banks > > > have been able to buy investments with the criminal and tax avoiding > > > cash in ways that bloated property and other asset prices - this in > > > turn was recorded as profit on which they paid out the interest to > > > investors - but now these assets are falling or supported by QE etc. > > > They have been setting up other Ponzis (usually exchange traded funds) > > > that monopolize commodities like copper and food and are trying to > > > collapse countries to buy up toll booths (ports, airports, public > > > services). They can't just bury this hot money in the ground as very > > > large men want interest from it. My guess is the financialisation > > > market has already swollen to maximum possible size. Some of the > > > banksters may now be between a rock and a hard place and about to turn > > > Queen's Evidence (grass up for reduced sentences, changed > > > identities). A fw good cops could take down the $20 trillion plus > > > scam. > > > > > On 25 Mar, 16:34, nominal9 <[email protected]> wrote: > > > > Well... it appears to have been decided..... the EU "sheriff" came > to > > > > town,,,, and cleaned up......HAR > > > > > > > http://www.guardian.co.uk/world/2013/mar/25/cyprus-bailout-deal-eu-cl... > > > > > > On Sunday, March 24, 2013 4:32:15 AM UTC-4, archytas wrote: > > > > > > > Plenty of hoHAR on Cyprus Nom and little evidence as far as I can > > > > > see. The cover story is Russian mafia, banks pumping money into > high > > > > > yield Greko-Zimbabwean rocking horse dropping futures (who would > buy > > > > > them - especially with Russian mafia money?) and hence big hole in > > > > > bank balance sheets when the fictitious assets turn out to be - er > - > > > > > fictional. At least three major EU banks are involved to my > > > > > knowledge. I suspect the Cyprus banks were made into a dead > donkey > > > > > graveyard by them. On the other side Cyprus government spending > and > > > > > debt is low against the EU average (80 odd v 93%). What sort of > > > > > excuse is it that they invested unwisely in Greek bonds? You and > I > > > > > knew this was a piss poor certain loser even in a three-legged > donkey > > > > > race. It's the sort of bet we might have made with other people's > > > > > money along with very large sacks of cash and new passports for us > > > > > truly along with plane tickets out on the day we posted such. > > > > > There must be trillions in rocking horse droppings around the > world > > > > > being dumped into unwitting banks - no one with half a brain would > > > > > touch same - so it must be packaged like the AAA rated sub-primed > > > > > securitised dead donkey futures of the past. So who has been > doing > > > > > the packaging? The old form favourites are the rating agencies > and > > > > > the likes of Godforsaken Sachs, HongBong Shanghai Clusterfuck, > > > > > Narcoleys and Deutsche Jackboot - though maybe the Russian mafia > > > > > deposited some sacks of the rocking horse droppings themselves via > > > > > offers not to be refused, insisting on cash at notional value? > > > > > > > My suggestion to Cyprus is to default, re-establish the pound and > give > > > > > their cops carte-blanche for a criminal investigation. We have > almost > > > > > no facts about this despite and probably because of the media > fenzy. > > > > > The thing about rocking horse droppings (apart from not being > caught > > > > > with one when the music stops) is that we can trace the origins. > > > > > Evidence from a criminal enquiry could show us points of > origination > > > > > and lead to claims on the real assets of those who have profited > from > > > > > selling them. These could be used to pay down private household > and > > > > > some company and pension debt. hoHAR (patent pending)! I > suspect > > > > > the villains who really pulled off the scam that might have > tempted us > > > > > are now in Northern Cyprus or Londonistan - somewhere bags of cash > get > > > > > you good treatment. > > > > > > > On Mar 19, 8:27 pm, nominal9 <[email protected]> wrote: > > > > > > more eurozone bank news..... > > > > >http://www.reuters.com/article/2013/03/19/us-eu-bankingunion-idUSBRE9... > > > > > > > > > By John O'Donnell and Claire Davenport > > > > > > > > BRUSSELS | Tue Mar 19, 2013 2:53pm EDT > > > > > > > > (Reuters) - The European Union agreed on Tuesday to let the ECB > > > police > > > > > euro > > > > > > zone <http://www.reuters.com/subjects/euro-zone> banks, taking > its > > > > > first > > > > > > step towards a banking union just as a levy imposed on Cypriot > > > savers > > > > > > showed that the bloc will struggle to respond in a united way to > > > bank > > > > > > problems. > > > > > > > > The European Parliament and member states' representatives > sealed an > > > > > accord > > > > > > reached late last year to give the European Central Bank (ECB) > > > powers to > > > > > > supervise euro zone banks from the middle of next year. > > > > > > > > That agreement had initially been applauded as a step towards > > > > > integration. > > > > > > But the surprise levy on Cypriot bank deposits agreed as part of > the > > > > > > country's bailout deal at the weekend has dented confidence that > > > Europe > > > > > > will be united in tackling bank problems rather than leaving > > > countries > > > > > to > > > > > > struggle alone. > > > > > > > > "The deeply distressing problems faced by Cyprus show how > > > insufficient > > > > > this > > > > > > step is in itself," said Martin Schulz, the German president of > the > > > > > > European Parliament, calling for an EU-wide scheme to close > failing > > > > > banks > > > > > > and guarantee deposits. > > > > > > > > Under the deal, banks that have assets of 30 billion euros or > more > > > than > > > > > > one-fifth of their country's economic output will be overseen by > the > > > ECB > > > > > > rather than national supervisors. > > > > > > > > The ECB will also be allowed to intervene if it sees problems in > > > smaller > > > > > > banks as well, giving it the clout to trigger the closure of > > > > ... > > > > read more » > -- You received this message because you are subscribed to the Google Groups "Epistemology" group. 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