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Wednesday, April 22, 2009
£20bn of public property to be sold off to finance banks bail-outThe Government is planning to sell £20bn-worth of public property over the next 10 years to help recoup the billions spent bailing out the banks.
"the Banks are buying up our country with our money - they are transfering our assets to the Bankers (through corporations which the banks effectively own anyway through the title of the loans they advance those companies) - and get this - it is such a twisted wicked scheme that we get to fund the bankrupt banks to take our national assets as well.
This is the undoing of our democratic parliamentary system - this is the nature of the wicked schemers that lord over the people of the UK. "
sketched by dweller at 8:29 am0 comments
sketched by dweller at 1:43 pm0 comments
— George Orwell, Nineteen Eighty-Four.
sketched by dweller at 10:43 am0 comments
Treasury hopes to get us out of the mess by replicating the flawed system that the private sector used to bring the world crashing down, with a proposal marked by overleveraging in the public sector, excessive complexity, poor incentives and a lack of transparency.
What the Obama administration is doing is far worse than nationalization: it is ersatz capitalism, the privatizing of gains and the socializing of losses. It is a “partnership” in which one partner robs the other. And such partnerships — with the private sector in control — have perverse incentives, worse even than the ones that got us into the mess.
Joseph E. Stiglitz
The whole Geithner plan stinks. It is even more of the same, socialising the losses and provatising the profits and Stiglitz is not the first to point out that this plan is just a way of robbing the taxpayer to get the nasty stuff off the banks' books without looking like pure nationalisation of the debt to the man on the street.
It is disgusting!
The fact that 90% of the population aren't rioting in the street suggests that the US public are bovinely cowed and stupid...or is it that a large portion of them believe that, given their obscene debts, this will work out well for them? Whatever the case the whole thing fills me with loathing of the whole system...there is absolutely no morality left. I see no reason to be honest and hard working anymore...none. I've more or less come to the conclusion that tax evasion is a moral duty. Boy are my kids going to get a different lesson about how to behave in society than what I did from my parents.
The only way to get these toxic assets off the banks' balance sheets in a fair way that does unduly encumber the taxpayer, is by allowing the banks to fail. Certainly there would be a certain cascade effect, but being "too big to fail" is absurd, and creates moral hazard - if a bank only borrowed and lent enough, it would put the taxpayer at its mercy by being "systemic". But the hopeless flailing around with obfuscation schemes designed to transfer the "systemic" risk to the taxpayer, is no less systemic once it sits uncomfortably on the public balance sheet, and given the globalisation in the finance industry and the politicisation of these decisions, are simply protectionist.
The Banks must be allowed to fail. The losses must be accepted by equity holders and bond holders. The fools must be parted from their money. It will hurt. It might even be seen as depressionary. But it will be over much sooner, the market will find its bottom, the point from which it can recover. However, a finance industry absolved of its utter failure, transferred to an overburdened and newly indebted taxpayer, is a recipe for a much longer and intractable depression.
Yesterday's demonstration in London is really just the tip of the iceberg.. The *ankers waving money from the windows is like the french gentry's behaviour just before the revolution.
This is the start.. Just wait until later this month when Brown ups the tax to extortionate new levels and by the end of the year, we are all watching our food and fuel skyrocket, and interest rates get hiked .. We are nearly at breaking point.. I think the majority of the population are in denial at the moment, but that will soon turn to anger and we WILL have civil unrest.
History does have a habit of repeating itself. Mark my words, please somebody.. quote me in 12 months time.!!
sketched by dweller at 10:14 am0 comments
Let me see if I follow here:
The banks lose trillions of dollars
The world's leaders steal our money to give them back the money they lost (not in order to replenish out lost pension funds and retirement funds, btw, but in order to replace their empty coffers since these banks were loaning out at a rate of 50 bucks for every 1 buck they actually had)
The world's leaders meet in London to discuss how to steal more of our money
And the police who are paid by our money beat the crap out of us.
In other words, we pay for the banks to lose money, we pay for the leaders to pay the banks, and we pay for the police to beat us.
Seriously, I'm a mild man but it's time for a fucking global revolution just to teach these fucks a lesson if nothing else.
sketched by dweller at 12:36 am0 comments by _float_ of Urban 75 forum.
Stage 1: get in the way of marchers at the last minute (ie just before the BoE) and try and push them backwards in on themselves. Cut the crowd into managable 'chunks' using barriers and lines of officers. Prevent people from going down side streets. Prevent people from going in or out of certain areas. "Shape" the crowds into static lumps of a certain size and keep them there against their will, to demoralise the more 'casual' protestors. Shaping the crowd mans that no one section is more than a certain size. Keeping it static means that people can' choose where and how they protest, and allows stage 2 to progress.
Stage 2: Keeping this 'holding pattern', get increasingly kitted up and start rough-housing the crowd in sections - push them around pointlessly and start beating them, but don't let them leave. Further wears down and demoralises people and also provides the pretext for next stage...
Stage 3: The 'controlled release' phase - disperse the 'softer targets' in the crowd in small increments, by baton charging and pushing the crowd around, but now allowing some people to escape. Because people have been held so long most will immediately decide to go home at this point. On the way out they are intimidated and isolated so are easier to bully and instruct, less likely to join another demonstration. In effect the softer targets are bullied off the field of play.
Stage 4: The "Finish them off" phase - anyone who still remains is driven further together and can now be labelled as "the hard core" - by the fact they have remained (and ignoring that they have been penned in). At this point they can be baton charged repeatedly, the media will have run away and its too dark for decent footage, news deadlines have past and the remainder can be arrested, id-ed, searched etc.
This strategy is put in place beforehand, and enacted regardless of how peaceful people are. Anyone wanting to uncover the documentation and management of this by senior officers is told to get fucked on the grounds of operational secrecy, public safety and national security. The proof exists however by looking at even after event where the same thing is put into effect, regardless of people's "right to protest" or how well behaved people are.
Great country we live in, isn't it?
sketched by dweller at 12:29 am0 comments
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