Sometimes the subject of money seems very complicated. At other times it seems simple enough. There are people in the system who make it look complicated so that we do not understand what they are doing. The broad sweep of this view is that they are robbing us blind. I go along with that one. So does Ed Steele whose essay is linked here. The Birdman disagrees somewhat. Then there is the housing bubble that we all thought was making us rich. In the end you need to read for yourself, think for yourself and decide for yourself. Then you can back your judgment with your very own, genuine, hard earned money. Inaction is a form of action. Leave it in the bank and watch the value fade. They call it inflation. It is robbery by your wonderful government. Good luck.
The recent history of Currency Resets & The Bretton Woods Stitch Up
Nigel Farage's little mate explains how the Americans rubber dicked us using the Bretton Woods System [ ex Wiki ]. He also mentions that they moved the goal posts in 1971 without any pretence of democracy.
List Of European Countries By Average Wage ex Wiki
Average Pay 2018
Whether you are a security guard, lawyer, or IT worker, wages vary hugely across the UK. But where are the towns and cities that offer the best wages?
QUOTE
Workers in 15 of the country's largest towns and cities - defined here as built-up urban areas with 135,000 or more people - earn more than the average weekly wage of £539.
In contrast, workers in the 48 other towns and cities of this size earned less than the national average. (Full list at bottom of story).
The reasons reveal a great deal about the way people live and work.
There are no prizes for guessing that salaries are highest in London, where the average weekly wage is £727.
Nor that the capital is followed by neighbouring towns and cities.
The next six highest earning places are all in the South East, with average wages of £600 or more in Reading, Crawley, Milton Keynes, Cambridge, Slough and Oxford.
UNQUOTE
Circa £500 is the short answer.
Permanent Interest Bearing Shares
The Telegraph tells us about PIBs which have a fixed interest rates but are traded just like bonds. That means the effective interest will be lower but probably more than the 0% [ minus inflation ] offered by most banks. If their prices change the effective rate changes too. Are they the way to go? Think first. Ask advice second. Are Building societies charities or charitable? Hint: NO!
Anglo Tapes
Bankers demonstrate the depth of cynical corruption in Ireland.
Bitcoin
It could beat the government fraud which is Quantitative Easing but it is open to other criminals.
Banks
Financial Engineering is very profitable until it goes wrong. Then the banks demand money, lots of money. How much? Just think of a number then add some noughts.
Credit Rating
Your credit rating is about how much you pay to borrow. The Tories have just [ 23 February 2013 ] fouled up on it.
City Crime
Is the City of London a criminal organisation? It sometimes looks that way. Given the amount of money swilling around, a lot of people are going to get rich. Private Eye tells us about fraud every time, not just sometimes. Others feel that it is not just a few bad eggs; it is the lot. When people have enough power, enough money to get the rules rigged in their favour, things are going to happen. Crooked banks have walked away rich. It looks bent to me.
Economics Explained
By Professor Hayek. Economists are, in the main dangerous idiots, especially when they get taken seriously.
Euro Finance
Can it really be that bad, a casino where the dice are loaded? Yes!
Financial Engineering
Is all about manipulation. It tends to look for things that are not illegal or that are untraceable. Robbery is legally defined. Engineering has the same effect.
Finance For Dummies
Can it really be that simple? Yes!
Peer to Peer Lending
P2P lending is the way of the future; at all events it is the way to go as long as major banks are screwing lenders with interest rates of circa 0%, an effective negative rate due to inflation generated by government waste.
Holocaust® Compensation
This is your opportunity to get rich, or maybe just richer. You may not have realised for the last sixty odd years that you are victims, entitled to compensation but now your moment has come. Go for it. They do not actually say that it is a Jew only deal but you will find out that out when you try.
Anonymity
Matters to people because it makes them safer from extortion among other things. Corrupt governments do not like it because it makes extortion more difficult. This is why they invented the crime of Money Laundering. Of course they use fraudulent accounting but then they are different. They have the fire power, the tanks, the machine guns. They control the law so they are above the law when all is said.
The Financial Crisis 2008 Explained
This is not necessarily a definitive answer but it casts a spotlight on the perpetrators. Perhaps they are not all Jews, just an overwhelming most of them.
Financial Problems Solved
Adolf inherited major financial problems when he took over Germany in 1933. Adolf sorted them out. Bankers and the media keep very quiet about how he did it; a good reason why we should know.
Banking And Fraud
Fractional reserve banking sounds harmless enough. Quantitative Easing sounds even less harmful. It is just a different word for the same monstrous fraud.
Banks Are Cooking The Books
Hal Turner explains all. Hal Turner is in prison. As a result? They would say not. Some might believe them.
Behavioural Finance
Psychologists explain some the biases which control our behaviour under conditions of doubt.
The Big Short - Inside the Doomsday Machine - an excerpt is at Betting on the Blind Side
QUOTE
Based on reading Michael Lewis Liar's Poker and Moneyball, I wondered whether The Big Short would prove to be entertaining and informative. If you've read some of Lewis' books, you might agree that the "entertaining" part would seem to be a reasonably safe bet. It turns out, it is. The Big Short is fast-paced, straightforward, conversational and salty--very much like his earlier works. Indeed, if you didn't know Michael Lewis had written this book, you could probably guess it. It is easy reading and very hard to put down. In short (no pun), The Big Short doesn't disappoint in being entertaining........How informative is the book? Well, it may seem that Lewis has his work cut out for himself, since the events of the recent financial crisis are already well known. More than that, lots of people have their minds made up concerning who the perps of the last few years are............. In describing what led up to the darkest days of the crisis, Lewis does a good job helping the reader to see how the great financial storm developed. All in all, this is an informative book.
UNQUOTE
Michael Lewis was on the inside. He knows what he talking about and lets us, the little people know. Greatest Trade Ever Behind the Scenes is also recommended. I might even buy this one. It is that good. It should be available from your friendly local library. If not pester them to get it for you.
Celebrities Show Us How Not To Do It
They are famous so they must be cleverer than mere mortals? Not a chance. They can foul up bigger and better than us.
The Death of Paper Money
QUOTE
EBay is offering a well-thumbed volume of "Dying of Money: Lessons of the Great German and American Inflations" at a starting bid of $699 (shipping free.. thanks a lot). The crucial passage comes in Chapter 17 entitled "Velocity". Each big inflation -- whether the early 1920s in Germany, or the Korean and Vietnam wars in the US -- starts with a passive expansion of the quantity money. This sits inert for a surprisingly long time. Asset prices may go up, but latent price inflation is disguised. The effect is much like lighter fuel on a camp fire before the match is struck.People’s willingness to hold money can change suddenly for a "psychological and spontaneous reason" , causing a spike in the velocity of money. It can occur at lightning speed, over a few weeks. The shift invariably catches economists by surprise. They wait too long to drain the excess money.
UNQUOTE
A good summary of things that may well repeat themselves soon. Buy gold. Buy real assets. Paper is a snare and a delusion.
Diamonds
Jews have been involved with the diamond industry from the off. They pretty much created it. It is rather like the story of Hollywood, another of their success stories.
Hyperinflation
Is much faster than ordinary inflation which is slow robbery. Hyperinflation destroys people's saving fast. The damage is enormous as Germans found in the 1930s. But dear old Adolf sorted it out using Labour Treasury Certificates.
IMF
Do we need it? We have certainly got it. Should it be run by Jews or crooks? No but we usually get the double i.e. Jews who are crooked. Jews like theRutting ChimpanzeeJew, Kahn who is currently [ August 2011 ] trying to get away with rape.
Internet Entrepreneur
Want to make a fortune? So do lots of others but - read for yourself, think for yourself and decide for yourself.
LIBOR
The London Interbank Offered Rate is subject to fraudulent manipulation.
Moody's Ratings
Are vague, wide open to malpractice, a broken reed and proven so, but they are what we have.
Mortgage Meltdown
It was all part of the Financial Crisis 2008. In fact it was right at the heart of matters.
Quantitative Easing
QUOTE
The term quantitative easing describes an extreme form of monetary policy used to stimulate an economy where interest rates are either at, or close to, zero. Normally, a central bank stimulates the economy indirectly by lowering interest rates but when it cannot lower them any further it can attempt to seed the financial system with new money through quantitative easing.
UNQUOTE
QE is bad news. It is also much the same as forgery; the difference being that it is Brown robbing us rather than [ relatively ] honest men.
Recent Disasters [ 4 February 2010 ]
They start bad and get worse. Put a price on each and you have to think billions every time. Can you guess which is the worst?
Reserve Currency
Operating the world's reserves currency is a huge advantage; it means that the American government never has to pay for anything; it just prints more paper. If we do it, that is different. It is called forgery. Prosecution and prison can result.
Savings
The Guardian, flag ship of the left is all about when it comes to finance, getting rich, fleecing the honest working man et cetera. The bit about #Peer to Peer Lending is worth looking at.
Usury
Is charging excessive interest on loans and forbidden by Holy Mother Church. That is why the Jews got to create and run the finance industry and rob us blind. It is also one reason why they are not loved.
Wall Street
Is not just in the belly of the beast; it is the beast.
Wall Street and the Bolshevik Revolution
Wall Street financed the Bolsheviks. Believe it or believe it not; It is true. Both sides of the matter profited and that is the way they like it.
Web of Debt
Explains how we are being cheated by financiers.
World Bank
Do we need one? Probably not but we have one. It keeps chancers very profitably off the dole. It gives them power. It is bad news therefore.
The Big Takeover of 2009 [ 21 March 2009 ]
Big people matter. Little people don't so they get screwed by the big people. Simple isn't it?
Honest Banking The Arab Way - Hawala [ 23 November 2007 ]
QUOTE
In this Federal Reserve transaction we have the essence of the Hawala system, a system currently under frontal assault from the U.S. because it is efficient, low-cost, and unregulated.......
The transaction is simple and efficient by comparison to most of the alternatives. Iqbal pays on one day and his wife picks up the money the next day..... Nor does he need to deal with an artificial exchange rate set by the Pakistani central bank — a rate of exchange intended to rip off (tax) Pakistanis in foreign countries.
UNQUOTE
Unregulated; that is the key word. A free market is what governments hate. They can print money willy nilly. If honest men try it the charge is forgery and prison sentences are long. Hawala has to be the way to go.
Hawala and Satellite Communications [ 23 November 2007 ]
QUOTE
Interpol provides six reasons why Hawala thrives.....Briefly, these are:-
(1)Cost effectiveness. This comes from low overhead...
(2) Efficiency. Most remittances take place in a day or two.
(3) Reliability.... Hawala is simple, making it reliable.
(4) Lack of bureaucracy. No social security number, no passport, no bank account.. no problem.
(5) Lack of a paper trail.
(6) Tax evasion.
Thus, even in countries with no formal judiciary or banking systems, such as Somalia, Hawala can still be used.
UNQUOTE
Hawaldars in Somalia are honest or dead. This is good practice. The twerp who wrote this sees the lack of government control as a problem but then he is paid by a government. He witters about the risks of Hawala then tells us that it is honest and reliable.
US housing crash continues [ 16 January 2007 ]
Renting is the way to go in San Francisco and most other places. Owners are mug punters. This is a clear explanation of why. Extraordinary Popular Delusions and the Madness of Crowds is a classic that confirms the point. So does Buyers Scarce, Many Condos Are for Rent for Washington.
Finance For The Innocent
I think it really is that simple.
WhirlyBen, the Globo and the Great American Gold Grab
Even if the title sounds frivolous the content is not. Ed Steele was in the business and makes sense of it for us the outsiders.
M3 is one bit of jargon worth understanding. It sounds innocuous. It is meant to but it is not. It is the amount of extra money that a government prints. When we do it is called forgery and that is major crime. When they do it is hidden taxation as well as theft.
The bottom line is NO BANKER LEFT BEHIND - it is just the peasants getting screwed.
Quotes and Jokes of the Day
Quote of the day (Re Ed Steele's essay of yesterday):
Ed advocates gold to prevent inflation, but this is naive. Inflation can occur with gold, as it did in Spain after the conquistadores brought piles of it back from the New World, and it might happen again if technology discovers a way to extract that ton of gold from every cubic mile of sea water, or whatever the ratio is. But more to the point, there must be enuf currency to carry on ordinary business, and with the world population at 5 billion or so, gold is an impossibly scarce medium.
Another point Ed did not think of is that inflation is actually good for debtors, because debtors can pay off their mortgages with cheaper dollars. Gold on the other hand APPRECIATES as a medium as the population grows, so debtors must pay off their debts with a more valuable medium. (This was what William Jennings Bryan made so much noise about in his famous 'Cross of Gold' speech.) We indebted folks should pray for inflation, as should the Dad Gummit, which doesn't of course have to pray.
A final point is that there are hedges against inflation, namely, PROPERTY -- everything from gold and precious stones to antiques, real estate, stamps, cars and who knows what. Inflation hurts cash holders, and thus is the curse of (at least some of) the rich. Isn't that great???? Hello? Hello?
This was posted on 12 January 2006 so you may need to search backwards.
Thirty-Six Years of Fear and Greed
Australian finance is no different to any other finance and it is just as badly run. More law does not mean better law. It does not even mean that more suits go to prison. You have all of the protection that you need - until you need it.
Credit Rating Agencies
If you want credit cards, mortgages, bank loans or what ever your credit rating matters. Find out how to sort it out and whether it is going to give you problems.
Stock Market Trader Arrested For Succeeding [ 25 April 2015 ]
QUOTE
Suspected rogue trader Navinder Sarao lived in his parents' modest home because [ not true ] it gave him a split-second advantage worth millions of pounds - and a potential £40 million offshore nest egg.His family's semi-detached house in suburban West London is closer to an internet server used by one of the major financial exchanges, giving him a nanosecond [ microsecond in fact - Editor ] advantage over rivals in the City.
His thousands of high-frequency trades could be processed faster than those from dealers in Central London, giving him a massive commercial advantage.
UNQUOTE
His old firm says Sarao Didn't Cause 2010 Flash Crash, This is true. It seems that he went short when prices were going to fall and long when they were going up. Being nearer to a server than a big London firm helped. See Front Running for more. Read Flash Boys by Michael Lewis to understand what it is about.
Loan Shark Firm Wonga Struggling After Its Fraudulent Malpractice Is Reined In
QUOTE
Britain’s biggest payday lender, Wonga, is teetering on the brink of collapse following a surge of customer compensation claims in recent weeks that could cause it to call in administrators............The flood of claims facing the company relate to loans taken out before 2014, when Wonga was the poster child for outrage in the payday lending industry that resulted in rules capping the cost of borrowing. Campaigners claimed the firm and others in the industry fleeced consumers with high interest rates and targeted vulnerable customers with slick marketing.............
The FCA became responsible for overseeing the payday lending industry and placed a cap on the cost of credit in 2014, which observers say was responsible for pushing smaller payday firms out of the market. Wonga, which employs around 500 people, has reported losses in recent years following the introduction of the cap and several scrapes with the regulator, including a ruling forcing it to compensate customers for unfair debt collection practices.
Wonga has been accused in the past by MPs of charging exorbitant interest on short-term loans that amounted to “legal loan sharking”, while was also criticised by the Archbishop of Canterbury for destroying lives. Campaigners say that while payday lenders have reformed since regulators intervened, many households across Britain remain vulnerable..
UNQUOTE
The Guardian does not bother to mention that Wonga was set up by a Jew. Errol Damelin likes his Pound of Flesh, just like Shylock, The Merchant of Venice or The Jew of Malta both God's Chosen People. Of course the Wonga mob know all about using bankruptcy to get away with paying what they owe.
PS Compare this one with Six Jews Imprisoned For Payday Loan Racketeering or Jew Being Fined $491 Million For Payday Racketeering
German Electronic Payments Firm Goes Bust Owing £2 Billion After Auditors Cry Wolf [ 26 June 2020 ]
QUOTE
Crisis-torn Wirecard has collapsed with debts of more than £3billion in Germany's worst accounting scandal. The financial technology company said it would make a filing at a district court in Munich 'due to impending insolvency and over-indebtedness'.The implosion came a week after auditor EY refused to sign off the payment systems provider's 2019 accounts, forcing out chief executive Markus Braun and leading Wirecard to admit that £1.7 billion of its cash probably did not exist.
UNQUOTE
Markus fouled up. Using bent Auditors is the standard approach but paying bribes matters too. See e.g. EY Claim They Did Not Do Fraudulent Audit This Time
American Student Loan System Is Going Broke With $500 Billion Debt [ 1 May 2021 ]
QUOTE
In 2018, Betsy DeVos, then U.S. education secretary, called JPMorgan Chase & Co. Chief Executive Jamie Dimon for help.Repayments on federal student loans had come in persistently below projections. Did Mr. Dimon know someone who could sort through the finances to determine just how much trouble borrowers were in?
Months later, Jeff Courtney, a former JPMorgan executive, arrived in Washington. And that’s when the trouble started. According to a report he later produced, over three decades, Congress, various administrations and federal watchdogs had systematically made the student loan program look profitable [ fraudulent accounting? ] when in fact defaults were becoming more likely...................
“If you accounted this way in the private sector, you wouldn’t be in business anymore,” Mrs. DeVos said in a December interview. “You’d probably be behind bars.”
UNQUOTE
Student loans boosted the Education Industry and achieved monstrous losses, far more that mere megabucks. It's more than the Financial Crisis 2008, the meltdown in the mortgage racket.
US Dollar Hegemony Ended Abruptly Last Wednesday, by Michael Hudson - The Unz Review [ March 29, 2022 ]
Is this good or bad? The answer depends on whether you are an American or not. For them it is long term bad news. When they notice it will all be somebody else's fault. In the mean time China is on the up. See the next one for more and better details.
https://www.unz.com/article/ten-china-predictions-for-2021/
Ten China Predictions for 2021
QUOTE
A year ago in these pages, I made ten predictions about China’s upcoming year. Here’s how they turned out:
- GDP will expand by 10%. Wrong (it grew 8%).
- Most Fortune 500 companies will be Chinese. Right.
- China will create five new billionaires each week. Right. (It’s now the world’s richest country)
- Extreme poverty and homelessness will disappear. Right
- China will narrow its Gini gap. Unknown.
- Average Chinese will outlive Americans. Right. (US life expectancy fell 3 years).
- Chinese vaccines will protect 60% of the world . Wrong. (It was 50%)
- China will revolutionize urban life. Wrong. The new city will open in 2022 .
- China will unveil the first exascale computer . Right. Three, and the Gordon Bell Prize)
- China will announce another quantum surprise. Right. (A quantum computer 10,000 times faster than Google’s Sycamore).
In fact, 2021 was the best year in Chinese history. Here’s what they did:
- Eliminated extreme poverty.
- Achieved 98% home ownership.
- Mastered Covid, with a death rate 0.6% of America’s.
- Grew the economy faster than ever, by $2 trillion PPP, four times America’s rate.
- Became the richest country on earth.
- Built three exascale computers. One runs AI problems 88,000 times faster.
- Brought two gas-cooled Pebble Bed nuclear power plants online.
- Fired up two thorium-fueled reactors, eliminating uranium from power generation.
- Certified a Covid treatment that reduces hospitalizations and deaths 78%.
- Became the world’s largest movie market.
- Successfully tested the world’s most powerful solid rocket engine.
- Flew three hypersonic missiles around the planet.
- Released a fractional orbital bombardment missile, at 17,000 mph.
- Commissioned three warships at a time to become the biggest navy.
- Issued the most patents of any country and dominated scientific research.
- Sold $140 billion retail online in 24 hours. Amazon’s record is $5 billion.
- Made 55% of global energy savings.
- Generated 1 terawatt of renewable energy.
- Produced a new billionaire and 300 millionaires every work day.
- Completed new train lines in seven countries, including Laos’ first.
- Ran 12,000 cargo trains to and from Europe, up 30% on last year.
- Joined RCEP, the world’s biggest trade pact.
- Launched the world’s first central bank digital currency.
- Built a programmable quantum computer 10,000x faster than Google’s.
- Operated the first integrated, 3,000-mile, commercial quantum communications network.
- Installed one-million 5G base stations, giving Tibet better 5G service than New York.
- Communicated between satellites via lasers, 1,000x faster than radio waves. [ Nonsense - Editor ]
UNQUOTE
Should you take Godfree Roberts words of 1 January 2022 seriously? Probably but he has a Marxist agenda. Believe his stuff only after checking.
Workers Are £11 Thousand A Year Poorer Due To Inflation [ 21 March 2023 ]
QUOTE
Britain's workers are £11,000 worse off per year due to 15 years of wage stagnation, a think-tank has concluded in a damning report.The Resolution Foundation made the calculations based on whether wages had continued to grow at the pace seen before the 2008 financial crash.
The think-tank said if this had happened, the average worker would have made £11,000 more per year than they do now, taking rising prices into account.
It also found that average UK household incomes have dropped behind those in Germany - with the gap now at £4,000 a year, having been over £500 in 2008.
In new figures shared with BBC Panorama, which airs on BBC One tonight at 8pm, the think-tank studied how 'real wages' have not had sustained growth for 15 years.
UNQUOTE
But notice that the BBC can pay little Mr Lineker over £1 million a year, inter alia because he is an Anti-White Racist. He's not going short.
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