ernments tell you how valuable our banking system is, and how important our financial services sector is, don’t believe them. Most of it is as valuable to our lives and as energetically parasitic as a Flu virus. For sure, we need old-fashioned banks who help us move money around, and take care of our savings. Possibly we need insurance companies to help us deal with life’s risks. Maybe there is even some sense in having companies which manage investments – if that process can be removed from the paper-casino it currently lives in and revert to supporting companies to buy plant and equipment, or cover their trading cycles. But a City of London filled with financial institutions generating huge fantasy debts which we, our children and our grandchildren are supposed to pay back? They’re not worth the paper they’re NOT written on.
BUT - WHAT IF Nassim Taleb's "Black Swans" were engineered by a group of men - living together in society today - as a result of information asymmetry ?
" When plunder becomes a way of life for a group of men living together in society - they create for themselves, in the course of time, a legal system that authorises it and a moral code that glorifies it "
Frederik Bostiak
Governments should be afraid of their PEOPLES -
and the PEOPLE should not be afraid of voting into
power - GOVERNMENTS
- of the PEOPLE
- by the PEOPLE
- for the PEOPLE
…
representative democracy", let alone Swiss-style "direct democracy", by allowing at least one MP to attend - that represented an alternative view of the people.
IT would appear that EVEN so-called "representative democracy" IS DEAD in the UK and it would seem rapidly becoming the case in the Eurozone influenced European Union.
From the ONLY man that I still TRUST in British Politics today - Alistair Darling -
Cyprus is doing "everything you should not do" after the tiny country decided to seize around 6.75 per cent from smaller deposits and almost 10 per cent from larger ones.
The country is currently deciding whether to make richer savers pay a bigger proportion of the bill but Mr Darling said the whole idea of taking money from ordinary savers is dangerous.
He said EU should not be letting Cyprus "blow apart" the principle of protecting deposits under €100,000, as people will start pulling their cash out of banks if they fear this elsewhere.
"It seems to me to make it more likely that if you’re a saver in Spain or Italy, if you have a sniff of the EU or the IMF coming your way you’ll take your money out and you’ll get a run on the bank," he told BBC Radio Four's Today programme.
"So what they’re doing is everything you should NOT DO when you’re trying to solve a problem like this."
GOVERMENTS should very definitely
BE afraid of the reactions of their PEOPLES -
and the PEOPLE should not be afraid of voting into
power - GOVERNMENTS
- of the PEOPLE
- by the PEOPLE
- for the PEOPLE
…