Sunday, 16 December 2012
Saturday, 10 November 2012
Tuesday, 30 October 2012
It’s been known for many years that the BBC was staffed by gays, lesbians, transvestites and other abnormal highbrow layabouts from Oxbridge. People who would find it difficult to fit into normal jobs. These same people have gone out of their way to defend this group of misfits and even to promote them in various programmes, force-feeding their long suffering listeners and viewers, and giving the impression this was normal in society and ought to be accepted by others as such.
Wednesday, 3 October 2012
Saturday, 18 August 2012
Tuesday, 1 May 2012
Friday, 27 April 2012
Thursday, 26 April 2012
Saturday, 10 March 2012
Let These Fanatics Muslims Kill Each Other
Wednesday, 18 January 2012
SOPA and PIPA Protest!
This blog deprecates the US Congress considering legislation that could fatally damage the free and open internet. The SOPA bill is so badly written, so over broad, that it's going to impact on all kinds of innocent websites, and it certainly doesn’t have anything to do with stopping piracy. Unless there is a strong protest, SOPA won’t go away, nor will its terrible twin PIPA.
SOPA and PIPA are just indicators of a much broader global problem. Governments all around the world are trying to infringe on the internet by pushing through control legislations, nominally intended to fight online piracy, but in effect to regulate the internet for their own purposes and damage online freedoms. If you think this is wrong, as we do, then you need to make yourself heard—NOW, before it’s too late.
Saturday, 14 January 2012
We have been informed by the media that the US S&P credit rating agency has downgraded nine European Government Economies. This is the same rating agency that rated the infamous Credit Default Swap (CDS) junk bonds before the Credit Crunch as triple A. Would you buy a used car from such ‘credible’ salesman?
Why does anybody listen to such junk pronouncements?
Credit ratings are used by investors in the same way punters use tipsters to justify their uncertain bets, issuers to up-value their so called securities, investment banks to promote their iffy securities, broker-dealers to sell the same, and governments to sell their government bond issues so they can pay off their corrupt borrowings (I call them corrupt because they are the result of promised spendings, by the politicians, to the electorate, so they will get re-elected i.e. bribes). One has to remember that Stock Markets are basically overblown gambling dens and they need tipsters to point the punters in presumed secure directions—and these tipsters, in this case, are called rating agencies.
Investors in volatile equity, debt securities, real estate, currency, commodity, derivatives such as put and call options, etc. have only one objective, that of turning a quick profit. Issuers develop, register and sell misnamed securities for the purpose of financing their own operations and lining their own pockets. To sell, they need a provenance for their so called securities—and the rating agencies provide that provenance. Investment Banks promote individuals, corporations and governments in raising capital by underwriting the issuance of so called securities, again the rating agencies provide the provenance for those so called securities.
Who are these ‘Big Three’ rating agencies that pronounce on governments credit:
- Standard & Poor's (S&P) is a US-based financial services company. It is a division of McGraw-Hill that publishes financial research and analysis on stocks and bonds. Would anyone say that this company can be impartial? Any US company is under US political influence—it’s a sine qua non of being based in the US.
- Moody's is a bond credit rating business and used by the markets to rate the bonds market.
- Fitch is a majority-owned subsidiary of FIMALAC, headquartered in Paris. Fitch Ratings and Fitch Solutions are part of the Fitch Group. FIMALAC was created by Marc Ladreit de Lacharrière in 1991. He is the CEO, and holds 100% of the shares of the FIMALAC Group. This is a French rating agency that has tried to play the Wall St game, and failed. It usually follows the two US agencies.
Personally I would rate the ‘Big Three’ as C, and any country that takes any notice of them deserves all they get. Mostly it’s the silly media that pushes them for the lack of any better material to publish, having abandoned serious ‘news’ reporting.
The US politicians have long wanted to undermine the EU by demanding the EU allow Turkey to join, making the European borders a laughing stock as European, and adding 90 million Muslims to a Christian enterprise. Why would the US politicians be so vindictive—because the EU market is by far bigger than the US and the Euro is replacing the dollar as a world currency. The Eurozone crisis is largely made in the US—Goldman & Sachs helped fiddle the Greek figures so they could enter the EU. US banks encouraged Greece, Ireland, Portugal, Italy, Spain to borrow and borrow and borrow yet again, until they sink under their own debt, the way the US is sinking under its own $15 trillion debt.
One of the weapons in the US armoury is clearly the Rating Agencies. By S&P downgrading the nine EU economies, the US throws another spanner into the machinery of the EU.
THE EU IS A BIG BEAST AND WHO KNOWS WHAT WILL SINK IT?
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All characters appearing in this work are fictitious. Any resemblance to real persons, living or dead, is purely coincidental. That's our story and we're sticking to it.