My predictions for 2012

1. Argentina will invade the Falklands and the UK will not be able to get them back easily
2. The US Dollar will lose it's prime reserve currency role
3. The Euro will break up
4. UK crime will grow significantly
5. UK Unemployment will go over 3 million
6.UK  NHS will come to breaking point
7. In the UK more unrest for immigrants
8. More protests which become violent in the UK
9. UK Coalition will break and Conservatives win outright
10. UK House prices will fall 5%
11.UK  Immigration will be curbed
12. Foreign criminals will be sent home to ease prisons in UK
13. Recession in UK will ease end of 2012
14. France will lose it's AAA credit rating
15. Italian bonds will go to 11%, Greek to 18%
16. UK rates will rise to 5.5% from current 1.99% (Gilts)
17. Rare Earth materials will become even more rare and prices will surge
18. Minerals will rise as China takes a bigger monopoly
19. China will be blamed for more hacking as they buy even more National Grid companies
20. Oil will fall to USD 75 a barrel as use of cars diminish globally
21. China economy starts to hit a recession, which helps the oil price fall
22. Iran will threaten a low level nuclear attack and the USA will attack it.
23. Russia will begin to clamp down on it's capitalism and become a larger authoritarian state
24. Muslims will start having problems in numerous countries as a backlash to them trying to have their own Sharia systems within Christian countries.
25. Saudi to get more power in Bahrain
26. More poverty in UK and USA
27. More child abuse in UK and USA
28. Obama will not be re-elected
29. France will not allow UK to use French planes from aircraft carrier for any conflict
30. French banks will go bankrupt and need to be bailed out
31. Travel companies and airlines will go bankrupt globally

I will post others

UK is for UK employees

What isn't right is the kind of thing below that has happened in the UK.

A company in the Midlands made a UK guy redundant because he couldn't talk nor train his staff!
Why? Because they were all Polish and didn't speak English.

This type of thing cannot continue.

As I mentioned before, my son went to the Olympic site to get an electrician job and was told he wouldn't get it because 95% of the workers were Polish.

So eventhough the government wants to start building houses they need to stop this practise.
They are exporting the economy back to Poland.

I wrote to the Treasury and George Osborne, but of course I just an acknowledgement and no response!!

Expect a new war very soon over the Falklands

All my readers know what i think about this headline.

1. We are in a depression in the UK
2. Our armed forces have been cut back that it can't protect the Falklands
3. 3 Oil finds with large reserves have been found off the Falklands
4. Argentina has the backing of all South American countries

It is a forgone conclusion that the Argentinians will invade the Falklands very soon.

So the EU doesn't want the UK?

So yesterday's EU parliament included:
The EU Commissioner (Spanish / Portugese) stating that the UK asked for too much and that it would have ruined the single market. I ask, isn't that what's it'S done anyway?
Then we had the French saying the UK shouldn't be in Europe.
The Begiums saying that the English language should not be spoken.

However, what is odd, is that they are still asking us for money.
1. For the EU regardless of the refund we get, we are still huge net payers
2. The IMF will request upto Stg 40 bln which is supposed to be the limit, in order to bail out the Euro
3. We have funded the Irish and have a total exposure of Stg 80bln

So I am confused. They don't want us in the EU nor the Euro with any power , but they are more than happy to take our money and try to ruin the UK and the Banking industry, which is helping to fund them!

The Europeans really are stupid!!

So the EU doesn't want the UK

So yesterday's EU parliament included:
The EU Commissioner (Spanish / Portugese) stating that the UK asked for too much and that it would have ruined the single market. I ask, isn't that what's it'S done anyway?
Then we had the French saying the UK shouldn't be in Europe.
The Begiums saying that the English language should not be spoken.

However, what is odd, is that they are still asking us for money.
1. For the EU regardless of the refund we get, we are still huge net payers
2. The IMF will request upto Stg 40 bln which is supposed to be the limit, in order to bail out the Euro
3. We have funded the Irish and have a total exposure of Stg 80bln

So I am confused. They don't want us in the EU nor the Euro with any power , but they are more than happy to take our money and try to ruin the UK and the Banking industry, which is helping to fund them!

The Europeans really are stupid!!

What's wrong with the Lib-Dems

Now let me get this right!
Clegg agreed with Cameron about the veto.
When there was a riot about it in the EU and the German and French threatening the Brits, Clegg changes his tune and his party follow.
Then yesterday when the Prime Minister answer 101 questions about what he had done Clegg was no where to be seen.
This stinks of a bad leader and someone the Conservatives should not be in a union with!!

Euro Own Goal !

Germany and France seem to be saying that they have pushed the UK into a spot where they had no choice but to veto and that they are pushing the UK out of Europe.

Question: Who is going to replace our money?

Seems to me to be a bit of an own goal

http://www.telegraph.co.uk/finance/financialcrisis/8950685/Like-it-or-not-Britains-veto-was-Germanys-decision-not-Camerons.html

UK and the EU and the veto

I really think that all of the newspapers and the politicians saying that veto is putting the UK on the sidelines etc. is nonesense
Well what do they think we are now?
They are all buffoons and this is just a smoke screen. This will be good for the UK for a few reasons.
1. We will have a referendum
2. The EU will lose our funding which is significant. This will have to be taken over by Germany, Holland, France mainly.
3. We can strike better partnerships with the Commonwealth, USA, India and others.
4. Do you think that the EU will stop buying our goods? No! they are buying them for a reason and it's not the Bilateral agreements.
5. We can be another Switzerland and its relationship with the EU.
6. We don't have to talk about Eutopia again
7. Goes to show that the Lib Dems don't have a back bone after Clegg has agreed and then criticised the Prime Minister
8. The Uk could drop the tax in London for Businesses and actually grow more and bring in more revenue.
9. The Euro is finished anyway, so why join.

Of course Germany and France will blame the UK for their failed folly!

Cameron and the new EU Treaty

So Cameron blocked the new treaty did he?
This is what will happen.

The other members will pass the treaty and Britain will have to go along with it.
He has isolated us whilst putting handcuffs on us.

It is the European resolve to screw Britain when they can, so this will make it even more the challenge.

Cameron was an absolute idiot pre-warning what he was going to do. This put the EU backs up straight away, so it didn't need a brain cell to realize he had already screwed us.

I say again, we will HAVE to exit the EU eventually.
Ther may be a concept of Eutopia, but it can never be achieved, it's human nature!!

Euro summit

Merkel and Sarkozy are disregarding anything Cameron wants.
Therefore, he will cave in and we will pay the price !!

Grease or is it Greece?

Courtesy of the Daily Telegraph 7th December 2011

French default?

What did I say weeks ago people?

http://www.telegraph.co.uk/finance/financialcrisis/8939146/Bank-of-France-debts-jump-tenfold-on-capital-flight.html

Europe promises

1. Cameron promises to veto any agreement if it doesn't suit the UK. He really hasn't understood that he is a nobody. He won't do 'jack all!' and the Uk will get screwed. The polticians should watch out because their jobs will become defunct!!

2. Sarkozy promises the earth,. However, he is a midget compared to previous French Presidents. Again he really has nothing to bargain with and can only promise.

3. Merkel is doing well, she is the winner at the end of the day. She is the only one who can agree and pull anything off. However, she has problems convincing the German people.

Whatever, agreement is reached it will be watered down and down the road will cause more problems.
The latest announcement is that GDP in all members has to be 3% or lower. Well NONE of the countries are at this level so how can it be agreed??

S&P going for broke with Europe

http://www.telegraph.co.uk/finance/debt-crisis-live/8937334/Debt-crisis-live.html

So now even the EFSF fund is under review. THE fund to bail out Europe!!
This stinks of an America hit on Europe!

At least someone is, 'cos the UK are failing miserably!!

Cameron is an idiot

Why can't Cameron understand, we are outside the closest members of the EU.
Germany and France do not want the UK anymore until they are in trouble again.
Expect Italian banks to be in crisis evenmore when all the bonds are revalued.
Expect the French banks to be the same.

A credit agency has now said that if the Euro members cannot agree, then they will downgrade them all and I presume that includes Germany!

All the news from the MP's about the UK really being hit is a red herring.
For hundreds of years we have been a trading nation and managed our economies well.
So we can do it again.
The only 'fly in the ointment' are spineless MP's and the Euro MP's about to lose their lucrative positions.

Why is the Bank of England and the Bundesbank printing old money again??
If they were sure that the Euro was to survive then they wouldn't waste this money, would they?

Could UK Unions have a second coming from EU?

If the UK is dragged into the EU, then this will mean that the European Unions will demand that the UK Unions back up their calls.
So we could see an instance where ALL the European Unions will force strikes in all 27 countries.
This will work unless the UK Unions want the same of course then we will get the Churchill salute!
This is a frightening thought as Unions in Europe still have a lot of power.
i.e. Holland or Germany. You cannot sack workers unless a damned good reason and even this is contested.
You have to give 1-2 years money and find the worker a job. etc etc.

Basically UK will be brought to it's knees !

Bankruptcies to become worse and economies not to pick up until 2013-2014

Over the next 2 years expect the following:
Airlines to go bust
Travel Industry to go reduce
Travel to rise in cost as less people can afford it.

People will again begin to holiday in their own countries. This will help the domestic market a little.
Basically back to the 50-60's more.

I re-iterate that the economies will not begin to pick up until end 2013- beginning 2014 so expect hardship all round.
I suspect that each family will need at least 2 people working or one person having 2 jobs to make ends meet.

Europe is moronic!

Now let me see!
Apart from Holland and Germany, Europe is broke with no money.
on average I guess a good 75% of workers in most EU countries are in fact government employees.
Think about it, public transport, Post Office, Telecommunications etc.
Therefore, if a country is broke even the government cannot pay.
Look at Greece of course, I saw a programme where one fail had their monthly government salary reduced to Euros 800!

Yet today the Portugese starting today have a general strike with some woman stating that they will fight to the end! (picture behind her indicated the socialist front). To the end of what?
There is no money in Portugal.
One simple question is what do they offer as an asset to Europe?
Ergh! Port wine or a holiday?
I am baffled that people are willing to lose what money they are earning to waste time on some socialist, minor group, salary paid unionist!

I am not Warren Buffet, but I am good!

1. warren saw the 1939 depression, one more than me
2. I saw the 70's period and austerity packages brought in by Chancellor Healey ( Silly Billy!)
3. I am good at foretelling and analyzing things
4. I write all of my thoughts on this blog and am correct 85% of the time (wanted to be conservative!)

So bearing all of this in mind is it surprising that:
1. The USA youngsters of today think they invented the term 'Cash is King' when I said it weeks ago
2. IThe German Bond sale was a disaster and I said that the ECB will HAVE to buy ALL bonds!

I rest my case m'ud!!

Munich vs UK for costs

I recently bought a new pair of spectacles.
Titanium frame 'silhoette' plastic lenses which are varifocal.

In the UK cost me Stg 340
I asked a local optician how much they would cost from him in Munich- €900 ( stg 775)
a sign of things to come if we go into the Euro!!

BE WARNED!

How can China force the European countries to capitulate to their demands ?

China wants to bring the western world to it'd knees.All because so far countries like France will not sell their industries to China.So what can china do very quickly to bring Europe to it'S knees?
it's all logical.
The German Bund has been one of the steadfast items to have in sovereign portfolios.
Recently, Asian countries have suddenly started to sell the Bunds. I wonder who this may be??

The gap between the Bund and the Gilt has narrowed quite alot recently.
If someone is selling the Bund then the French paper is worth even less etc.

So I am smiling at the German Finance minister saying the pound is dead and we will become the Euro.
Me thinks it's trying to talk your own book.
So expect even more pressure on the Euro and the so called agreements in place.
This is going to turn nasty for the MAINLAND Europeans!!

I rest my case !!

http://www.telegraph.co.uk/news/worldnews/europe/eu/8898044/Germanys-secret-plans-to-derail-a-British-referendum-on-the-EU.html

Cameron vs Merkel today! and the inevitable with EU and the Euro

I don't care whatever is said, there is NO way that there can be a an agreement between Cameron and Merkel on the Euro or the EU.
Merkel has her own agenda which means the UK will lose it's identity in an already German Federal State!
Cameron has declared he wants UK powers back, which Merkel and Sarkozy will not agree to.
So I think it's better that we all go our own way and then we shall see who is right!

On the crisis as I said yesterday France is definitely in trouble and this will become more prominent over the next few months.
No matter what they are doing now there is only one way and that is for the ECB to buy ALL and every European bond! No other way will work.
Greece cannot make anymore Austerity announcements as there will be civil war.
Italy are already up in arms against it, Spain hasn't even started yet.

Germany and France are trying to railroad changes to the EU and this means taking Sovereignty away. In Ireland this MUST have a referendum and if they do, then the UK will have to have one and then several other EU countries. This will mean that Ireland will leave, UK will leave and maybe Denmark, Greece, etc.
The road is rocky but it's coming to a 'Dead end'.
All the leaders and the IMF have expressed in their own euphamisms that the depression is coming.
In the UK the government will have to force spending with hurriedly brought forward infrastructure upgrades, telecommunication and housing restructures and building.
However, the UK government MUST ensure that UK citizens get the work first, otherwise they will just export the economy has I have said they have been doing by using Polish etc workers.

Never trust our government !

Northern Trust cost the taxpayers Stg 1.4 bln.
We were told that we would get our money back.
The Chancellor has panicked and sold to Richard Branson for Stg 1.0 bln therefore, we lose Stg 400 mln pounds!

1. What happened to the Government promise that we will get our money back
2. Branson NEVER uses his own money, he is a front man creaming off the top,so in fact we have given a bargain away to someone in Abu Dhabi which at the moment is taking a 10% stake.
Therefore they will get all profits for tax free reasons!

EU and French banks

A few weeks ago I said that France will have problems with the crisis. Many people have said to me laughingly ' what rubbish'
Well I think I will be the last to laugh.
Momentum is gathering in the press that the French banks are in trouble and it seems Sarkozy has gone quiet.
Also, when the banks were asked to pronounce their requirements for funding from the new agreements made, not many people highlighted the fact that there were several French banks owning up and it amounted to about
Euro 15-20 bln. I suspect alot more but we shall see soon!

Banking fraternity crying wolf!

http://www.telegraph.co.uk/finance/financialcrisis/8895337/Sir-Mervyn-King-Britain-on-the-brink-of-second-credit-crunch-Bank-of-England-Governor-warns.html

I am sorry, but the Bank of England came up with quantitive Easing to give banks money to lend.
Now they say that eventhough it was a condition to lend money to businesses, that they now cannot raise enough money! What has happened to the money they were given in order to lend to businesses.
Could it be the bonus amounts were bigger this year?

Eventhough I am a banker, I cannot support the banks. They caused the mess with greed and it still continues. The government should really force them, but as 30% of the UK govt revenue comes from the Financial industry it's unlikely.
So in future NEVER believe what the banks say or do or more to the point DO NOT DO.
Here is a thought! Why not make the Bank executives accountable for their mistakes or what they promise to do and never do. Make then Jailable!

This is why voters don't trust the government nor the law

Baroness Uddin fiddled her expenses to the tune of Stg 125,000. The largest of any political person or House of  Lords.
Now we find out that she is to be taken back to the House fo Lords although she has NOT paid a penny back and says she can't.
She owns 3 properties but won't sell them.
Apparently it is illegal to force her to repay.
So what was the point of the cost to investigate these people and why are they not charged when the man on the street would be locked up for a number of years for a much smaller offence.
She has abused her position.
Could it be that she is of another origin or am I cynical?
Funnily enough Lord Hanningfield was charged with a much less expense offence and was jailed.
It doesn't really take a brain surgeon to see what has happened, does it!

A matter of time for the Euro to fall

I can't see the Greek people taking anymore austerity packages. With civil servants pay going down to Euro 800 a month for a family this is now bordering on poverty line.
Therefore, Merkel has 2 options:
1. Let the ECB pump billions of more Euros to the wind
2. Disown Greece and create a new Euro

Greece is at the edge of a civil war.
They should just be set free to fend for themselves. The pro-euro people are now saying what we have been saying from the beginning. Greece, Italy, Ireland etc should never have been allowed in the Euro. No One meets the criteria for the Euro so something has to give! This was all to save face against the UK who refused to join.
Germany want to continue with it's Eutopia, but at the end of the day the EU and Euro is a German Federal state. France has no say.
Back in 1973 Mitterand wanted political power and Kohl wanted economic power.
This has all gone terribly wrong.
Let it go and start again.

One last thing about China practises

Sarkozy arranged a meeting with the Dalai Lama and it was a special meeting.

In the meantime, with the Euro crisis Sarkozy goes cap in hand to the Chinese.
The Chinese in return for money want:
1. To own manufacturing industry in France
2. Told Sarkozy that no meeting or money will be discussed until they cancel the meeting with the Dalai Lama

As I have said China have been looking to take over manufacturing all over the world.
They also stopped the South Africans meeting the Dalai Lama recently as well

This is just a start!!

EU want to force UK take in non-workers and non-EU immigrants

This is a taste of what is to come!
The EU want the UK to take in immigrants eventhough they have no intention of working, but to take social benefits.
On top of this they want us to take Moroccans and Algerians who are not in the EU and who may not want to work!
This is besides that the UK will grow so much that we will be the most populated country in the EU in 25-50 years.
But doesn't it strike you odd that these two mentioned countries are in fact French speaking and that their immigration to France is trying to be reduced!!!
Common sense must prevail! It's not about being racist etc, but it's about immigration, being able to save our taxes and social benefits, housing which we are desperately short etc

I only hope that the politicians look beyond their noses and get us out of the EU quickly!

China takes over

I stated a number of months ago that China is taking over the world and in particular the raw materials.
Today I was watching the BBCWorld and it had a programme about India and Goa.
The programme is about corruption and illegal digging of Iron ore.
It showed pictures of vast amounts of Goa being dug up for Iron ore, of which 100% is going to China.
The return to Goa is work, free schooling and other benefits.
However, the serious fact is that children are often ill and suffering from breathing problems.

 Believe me, this will continue in many countries , because we know China has an excellent record in Human Rights !!!

France and Germany planning to make a breakaway group

http://www.telegraph.co.uk/finance/financialcrisis/8882643/France-plots-eurozone-breakaway-group.html

Actually if you think about it, it may not be a bad thing.
As it stands the UK seems to think it has influence. Well it doesn't.
However, if Germany and France breakaway, the UK will have influence and hopefully be able to restore order.

what people don't remember was, that the UK actually told the Germans and French to go ahead with the Euro when they faltered.

Germany and France have always been envious of the economic knowledge the UK has and how it can turn things around.

This is one of our small hopes for the future apart from leaving the EU altogether!!

Did you know this about the Eurozone?

It is now becoming clear that no matter what you pay in to a pension, within the Eurozone, you will never get what is sold to you.
In fact if you get 50% you are lucky!! The Government will take the rest because they cannot keep the payments and need funding for the 50% you will get.

This is a hidden fact currently and one not being advertised!!

So as I mentioned a few weeks ago, you are better off actually putting your money under your bed and not in the govt nor a bank!!

EU political Union

It now appears that a Union between the 17 'insiders' is occuring and the EU is threatening the other 10 'outsiders' to be sidelined, of which the UK is an outsider by not joining the Euro.

However, the Uk should in fact stand it'S ground for numerous reasons.
Yes we know that the Euro problem is causing us heartache at the moment, but being outside provides us flexibility.
1. the French are courting the Chinese, but this will be a very expensive folly. The Chinese are looking to take over everything, so in panic they will acquire a large part of manufacturing in Europe. They know that this is the way to build power houses.
2. The ECB is refusing to print money because of their fear of inflation, so whereas before, sovereigns should never go bust because they can print money, this is failing for Ireland, Portugal, Spain, Greece and Italy.
3. It is inevitable that inflation will hit all the euro countries.
4. Germany is gradually taking all of the power and decisions
5. Sarkozy is trying to be as powerful as Merkel, but he has little say really, as France is in bad trouble, but currently have hidden it
6. Banks need to capitalize themselves and again this would normally mean cut back on loans, but if they do the economy will stall further and take longer to get back on it's feet

So with this in mind the UK should NOT seek to enter the Euro but should in fact seek to make agreements in other countries. Even what is left with the Commonwealth and also the USA.
One thing for sure, no matter what is agreed with the Europeans, the UK will be screwed at a later date with secret deals with Germany and France. We see it now so why will it ever change.

Another question is what are USA and Russia doing, while China is being courted?
USA is bust also at the moment and as I have said before, the shift in power has now changed to China.
Russia is staying outside for the moment, but will enter the fold eventually, when they realize what China are doing.
The UK can get back on it's feet without Europe, but we need a back bone and I am not sure, in fact I am certain the present government doesn't have the guts!!

God help us all!!

The Euro and Interest rates

As I said many months ago I see rates heading towards 15%.
In Europe Greece is already paying 12% and Italy 7% and this is classified as unsustainable!
The European Central Bank is buying bonds all over the place in Europe to keep rates down.
From my experience this just won't work.
The Market will take them on!
Which means (1) the ECB will stop (2) the ECB will run out of money.

I have just been telling my German colleague that there is a definite pattern over the past 80 years.
Whether it's a downturn or an upturn it goes in this order:

USA=>UK=>Europe

So 2010 we saw USA badly hit, in 2011 the UK badly hit and in 2012 it's the European turn.
Logically, we will see Italy in big trouble then Spain and Portugal will come out more and then as I have been advocating France.
Then we will see many protests in France. They have announced a € 65 bln austerity package.
Well this is rediculous. If the UK has to issue one for Stg 85 bln and France is immensely more Labour based and therefore more social security etc then we should expect more in the lines of € 165 bln.

So watch out 2012!!!

Baroness Ashton (parasite and Queen of EU)

As I have said before, this lady has done nothing for the UK when out of obscurity she was made High Representative of the Union for Foreign Affairs and Security Policy.
Last year she asked for an increase of Stg 20 mio for her staff to be enlarged.
Like the other parasites the Kinnocks she is a Labour person.
Baroness Ashton doesn't like to attend official functions, so why does she hold this position?

The latest is a surprise. She attended the Commonwealth meeting in Perth Australia. This surprised everyone! However, there is a motive.She asked her staff to arrange a holiday for her and her husband who happens to be
the Chairman of the Royal Commonwealth Society. What is that?
Anyway, when Kevin Rudd heard that she was going to spend a holiday near Melbourne overlooking the Yarra river, he invited her to meet with him.
That has spoilt her holiday.
The classic is that the Commonwealth meeting had a theme of 'women in high positions'  so I think she is prime for this (not!)

Anyway here are some points:
She earns a basic of Stg 328,000 a year plus everything else.
Apart from Australia she has planned Japan where she has expressed a trip for shopping!
She has the lowest ratings as an effective EU member
She refuses to go to key events (unless there is a personal interest or holiday)
Despite her being head of security for eu she refused recently to go  to a joint EU and NATO summit in Majorca (obviously not a holiday resort for her)
She failed to fly to Haiti after the earthquake ( too many begging and ill people)
She is always late on decisions or help such as  the revolutions in Middle East and North Africa.

Basically she is a waste of space, so why is she still in this Job?
It's obvious isn't it?
No one has accountability in the EU and jobs for boys and girls!!

The Euro is a Diktat !

The EU and the Euro is becoming extremely muddy, with no accountability.
A new powerhouse has been established called the 'Groupe de Francfort'.
Being a French name I wonder who set it up?

It's basically a politburo for the Euro.
Members are Angela Merkel, Nic Sarkozy, Christine Lagarde, Chairman of Eurogroup Finance Ministers, European Central Bank and EU Finance Commissioner.

This has not been discussed and was found out at the G20 where they wore badges!!
They met 4 times during the recent G20 summit and also had a chat with Obama.

This 'Merkozy' group are dangerous and we really do have a Federal state which is a hidden term for Dictatorship!

There is NO WAY that Britain should join the Euro, don't our MP's realize or know these things?

We are exposed in Britain to invasion!

http://www.telegraph.co.uk/news/uknews/defence/8862215/No-warships-left-defending-Britain-after-Defence-cutbacks.html

This goes to back my view on the Falklands!!!

The Greeks show their true face!

While everyone in the Euro has been running around for the Greeks, the Greeks have announced toiday that they want a referendum on whether to accept the bail out.
Now why don't the MP's actually listen to me.
Let the Greeks go to the wall!! The Euro is dead, don't try and  flog a dead horse!
The Greeks as I have said will go bankrupt. Let it happen now and then they can see the damage they have caused. Who will lend to them anyway???
Over the hundreds of years you have to understand the Greeks are very much like the Turkish and Arabs, they will agree to your face and then say something else when you are not there.

It seems that most accept the deal accept Greece!!

So 17 countries consulted and made an agreement.
Banks in each country coming forward in order to say whether they need cash. Funnily enough a number of French banks.
However, what is it about these Greeks!
It seems they may not all agree with the 50 % write down of their debt. It seems some party in greece wants 100% write off!!

Bear in mind that 90% of Greeks are government employed.
Bear in mind most do not pay the correct or even any tax.
where will their salaries come from I wonder!!

Expect things to go pear shape.

Immigration rules MUST change

According to a new report
http://www.telegraph.co.uk/news/uknews/immigration/8851902/Migrants-to-send-Britains-population-soaring-to-largest-in-EU.html

Immigration must change and NOW, before it'S too late. We only have so much space!

Don't get too excited about the Euro announcement

Please be sceptical of the announcements last night.

1. Other agreements have failed
2. It depends on economies picking up globally
3. Greeks don't pay taxes and this depends on tax revenues in Greece
4. Banks losing 50% of their money means they won't lend to Greece in a hurry
5. Private investors are likely to lose it all so they certainly won't lend to Greece
6. The French will play their part.
7. The details could take months and Greece runs out of money anyway

Otherwise, we could see the global economy not pick up and this agreement falls flat.
More money is needed
French banks lose more
France loses it's AAA rating which it could still lose!

The Euro joke!

So let's get this straight.
The French want the special bail out fund to provide money for the Greeks and others.
The Germans are refusing this.

The French want the ECB to buy all bonds from troubled countries
The Germans are refusing.

The ECB, say the Germans, cannot buy the bonds as it compromises their neutral stance and will not allow them to fight inflation when it comes, as it will.
The French will not agree.

Now the IMF may step in, which means the UK will be asked for money, which means we help to bail out the Euro eventhough we are not part of it.

This is what I said many weeks ago.
I REST MY CASE
This is a set up!!

Disquiet in Libya

Expect some disquiet in Libya after the burial of Gadaffi.
This is now the anti-climax period.
Still there needs to be Food, Water, Jobs and money!!

I am not seeing too much of this happening.

Bank of England agrees with me and the French are smoke screening

There you go, I must be good.
The BOE agrees that the current bailing out won't cure the problem as I said yesterday.

Shame they can't do anything for the UK to get it back on it's feet, like penalize banks who don't lend !!

Sarkozy moaning at the UK yesterday is just a smoke screen for the French to get funding for their ailing banks..
Can you imagine they want a single Treasury. This is so they can their hands on tax money, but in the case of Greece as it'S a national hobby to avoid paying, how will this work. IT WON'T. I repeat the town of Corinth in 6 months collected Euro 18,000 in VaT. Not good and won't work!!
So let me see, we need fúnding for helping out Greece. Oh we must tax more in every country!
WILL NOT WORK.
THE EURO IS DEAD.

Don't be fooled about the Euro!!

I know I am boring but the fact is I do this blog as a number of people never believed that I said things that came true.
Let me make it clear:
I am good at Macro-Economics and I am good with Common Sense and to most of my friends and acquaintances I also have held the power to foretell things.

So let's just be blunt here.
1. The euro as it stands has failed miserably
2. The quicker Greece defaults the quicker and we can move on
3. UK should not be part of the Eu nor the Euro
4. There has to be at least 3 Tiers of credit levels in the Euro
5. Cameron is wrong in what he is doing by voting against a Referendum
6. The French will come into trouble and all of this brinkmanship between UK and France is wasteful, because any agreement between Germany and France will become void. Don't you know any International company managed any a Frenchman is bound to go wrong.
7. French are one of the most corrupted societies going. I know in the banking world it's rife!
8. The outburst by Sarkozy is to take the problems of the French banks away from the fore news and also it happens to be a re-election next year.
9. The Euro problems will get worse. Any figures quotes to cover debt and keep things going please double from now.
10. The Greeks, Italians, French, Irsih, Spanish, Portugese are all lying about their debt amount problems.
so if they say Euro 1.8 trillion then make 3.5 trillion.
11. Recovery will not happen until 2016 as I have said.
12. Cash is King!!
13. Gold will go up again to about USD 3000 level. Why? 'cos there isn't enough of the stuff physically out of the ground!!

Let's stop at lucky 13 shall we!!

France Germany relationship in trouble

How odd is that. I write about France being in trouble and then a few weeks later it's in the headlines!
Expect this to escalate and will likely break the Entante Cordial between Germany and France for the Euro and EU!

Tax increases actually means lower tax revenue

Osborne really hasn't learned yet how economics works.
2 tax rises on petrol which has already caused revenues to drop, will drop further.
The idea is that the new rises will bring in an extra Stg 3.5 bn.
My guess is that tax revenues on petrol will actually drop!

Logic says that if petrol goes down, people travel more and spend more and therefore more tax revenue

We shall see who is right!

Conservative EU revolt

I mentioned some weeks ago that the Tory MP's had collected about 120 (about a third of Tories)  against the EU.
I think this is now climbing fast, which is why David Cameron is trying to use the Whip to ask MP's not to vote for a Referendum.
However, in the current circumstances it is becoming clear what it is costing the UK.
Numbers can only grow and as I said yesterday, Cameron promised a Referendum to the voters in his manifesto.
It is political suicide for him to continue along this avenue!

Cameron goes against his word

In the run up to the election David Cameron said he would give a referendum for the EU membership.
Now he is ordering his MP's to vote against a Referendum and we the voters have no say!

http://www.telegraph.co.uk/news/newstopics/eureferendum/8835447/Conservatives-ordered-to-vote-against-EU-referendum.html

If this i how he is going to act, then the Tories should be removed !

They forget, we voted them in to act on our behalf and not what they think we want!!

Top Bankers should be made responsible

As a high percentage of the current global economic crisis has been caused by banks through greed, it's time they are held responsible.
Look at Sir Fred Goodwin. Not only is he a liar about his private life, when it came to the crisis in 2008 he showed up at Alistair Darlings house to ask what he was going to do to dig RBS out of the mess!
Then he was offered Stg 400,000 a year pension, but he wanted Stg 800,000.
 He got massive bonuses.
In the end he didn't get his pension but is living very well and we are suffering because of his ineptitude.
Therefore, it's time to make these arrogant executives pay.

I say they should held accountable and jailed after an inquiry to totally discredit them.

Europe, the UK crisis and China

1. Greece is bankrupt. We all know that. Nothing will stop their misery. Even if a fix is found now it won't solve the problem and that is the Greeks are habitual tax evaders. With no revenues the country will never have money. We all know that Greece was NOT eligible for the EU, but to prove the UK wrong about not entering, they allowed them to cook the books. Now the problem.
With Greece partially defaulting will still not solve the basic issue.
France is in deep trouble as I mentioned about 2 weeks ago.
Germany is now being hit and I see this first hand.

2. The UK as I said many weeks ago will end up having to try and dig the EU and the Euro out of the mire!. The IMF want our contribution of Stg 20bln and the UK has pledged another Stg 10bln to help the Euro and why? We are supporting Ireland to the tune of about Stg40 bln. Here is the crux of the matter. The UK is in deep financial problems, the EU is trying to hit on the UK all the time to dig them out, but who is there to help the UK? Basically the UK is broke as well. So how does it work that a broken economy and country funds another broken sovereign? This sounds like money going around the system, but no solution!

3. China is in deep talks to dig Europe out of the mess. This means as I mentioned many months ago that China is taking over and will command huge demands eventually. Now they are forcing countries to make more austerity packages as well as taking some of their industry. Greece they have the Ship building now , they have utility companies, they have car manufacturing. I can't stress enough how they are taking over. Where will their money come from? USA of course. They will liquidate their holdings and cause big issues int eh USA, which I don't think has been mentioned yet!

Watch this space!

Split the Euro interest rates to save the Euro

I am old enough that when I started as a trader we had a 2 tier Sterling deposit market.
I can also remember Sterling interest rates at 35% and also French Franc interest rates for overnight at 3000%.

It will make sense for the Euro to look at the credit of each member and introduce a similar 2 or 3 tier market.
This will stop the Euro collapsing.

Tier 1  = market rates
Tier 2 = market rates + 0.75%
Tier 3 = market rates + 2%

This will then save the Euro currency but give a credit spread for the countries rating.

Uk Economy and the Eurozone crisis

As I have been talking about, the UK is being asked by the IMF to give about STG20bn of further funds for the Euro crisis.

So who said we won't be digging them out.
I stated this a few weeks ago.
With our economy weak according to the report in the link, we have a reason not to help them out.
After all it was the members fault so they need to take responsibility, don't they?

http://www.telegraph.co.uk/finance/financialcrisis/8830575/UK-economy-brought-to-grinding-halt-by-euro-crisis.html

The UK government needs to have a rethink on this.
Of course the fact that the Labour and the coalition was in a mess, allowed the Tories to put in an aggressive austerity package. However, it seems to be strangling our economy.
My thought is that they should:

Ease corporation tax
Re-Introduce apprentice payments to employers

Just two measures will make a difference.

When will we see a turnaround in the Economic crisis?

With the way that the Economic process works when banks are willing to lend money to Small businesses and to individuals is when the tide has turned.
Anything mentioned by the governments and press you can dispel until this anomaly occurs!

UK Banks will lose clients

UK banks are now cutting peoples overdraft by up to 75%.
The banks have caused most of the Global economic problems and are again turning the screws.
I my experience it will turn people away from banks.
I am sure we will return to some sort of pay packet again and the banks profits will collapse and wonder why!

The EU is now saying that UK should help pay for Euro mess because it's a debt problem and not just Euro!!!

This is a direct translation from the Suddeutsche Zeitungs news paper in Germany.

This is exactly what I warned about months ago !!

The debt crisis is a problem in all EU countries, not just the euro-zone, EU Commission President Manuel Barroso will. Even countries like the UK should therefore participate in the rescue of Greece, he asks. It is in their own interest. Is difficult to convince the London: Foreign Minister denounced the Hague € recently as "madness".

"It was madness to create this system, for centuries it is written as a historical monument to collective madness". This sentence said a few days ago, British Foreign Secretary William Hague, the political magazine The Spectator .

Jose Manuel Barroso, 2011Enlarge

José Manuel Barroso in September 2011 during an interview in the Süddeutsche Zeitung editorial (© Alessandra Schellnegger)

Hague's words are unusually dramatic, but they reflect a fundamental skepticism of London against the idea of ​​European unification, which prevails in the Festlnd. And one can easily imagine how the most recent initiative of the EU Commission President Jose Manuel Barroso on the euro rescue where he was admitted.

Barroso wants to participate in all EU countries in the rescue of Greece. "I would hope that all countries provide support if they have the financial means to," said the President of the European Commission of the image -Zeitung. Barroso explicitly closed while those States which are not members of the Euro-zone, such as Great Britain. The hoped-for successes in their own interest and solidarity is a self-protection. "If the euro is tottering, that all countries in trouble - even with its own currency. "

Potential financial consequences for Germany as part of the bailout received guarantees for Greeceand other debts of the EU-Commission considers reasonable.It could be that Germany "exercise as the biggest economy of Europe in their own interest to keep the Euro, our economy and jobs solidarity" would have said Barroso. "But that is manageable in comparison to what we would flourish if the euro is falling apart."

Barroso pointed out that Germany went through the loans and guarantees for debt-€ countries so far not lost money. Nevertheless, he understood the concerns of the German tax payer. "But you also have to say that Germany, as Europe's biggest economy will benefit most from the euro."

Euro group chief Jean-Claude Juncker holds a debt of Greece to cut imaginable. "I will make a debt-section is not made. But you should not think that it's enough simply to make a brutal debt section in Greece. We must ensure that this does not lead to contagion risks in the euro zone," said Juncker, the Austrian TV channel ORF.

About the size of a debt-section would not speculate on, Luxembourg's prime minister. The European leaders were the situation in the crisis-ridden Euro-member country continue to debate.

Marko Kranjec, Slovenia's central bank chief and council member of the European Central Bank (ECB) is expecting a debt restructuring in Greece, but not with a state bankruptcy. "I am confident that Greece will not go bankrupt, at least not in the sense that there are other countries is taken into the abyss. A restructuring is highly probable and is already being discussed, "said Kranjec. "The euro will survive."

This Tuesday, the eyes are directed to Bratislava. There, the parliament of Slovakia will decide on the enlargement of the euro rescue package. Following approval from Malta only has approval from the Slovak. The referendum should end with a No, the extension of the rescue EFSF not be implemented.

In case of rejection also threatened a premature end to the government. However, it could in the Slovak Parliament in a no a second time to vote on the bailout. A crisis meeting of the Council of four government coalition parties had gone on that Monday evening without agreement on the euro rescue package to end.

Meanwhile, also expressed this year's Nobel Prize for Economics for the euro crisis. "Europe and the euro are not the economic theory with new questions, the problem is politics, "said U.S. economist Thomas Sargent. He shares the Nobel Prize with colleague Christopher Sims.

As a possible way out of crisis struck Sargent from the countries of the Euro-zone, take the story of the United States as an example: After its independence in 1776 had the 13 U.S. founding nations resolved their respective debt crises by pooled their budgets under a new federal government have that could counteract with their own tax policy.

These steps are primarily a bold political decision dar. "We were born with a decisivesolution to the problems with which Europe is facing today, "said Sargent. "It all happened simultaneously, using a process that looks like a miracle." Something similar could also create Europe. Sargent also mate Sims pleaded for a common fiscal policy in the euro zone. The exclusion of weak euro-zone countries is no solution to the problem € said the 68-year-old American economist.

Economy over next 5 years

Certain things just don't add up!
I am reading Alistair Darlings book.
in 2008 he was a very astute person and my estimation in the guy as a Chancellor has gone up no end!
He lost his job, basically, because he said the UK economy was the worst for 60 years. In fact he under estimated it even then. Gordon Brown and Ed Balls had no idea.
Again even in 2008 he knew as did other European people that Dexia was in trouble. Today it's being bailed out.

In my blog last week I mentioned about this guy in Dallas making millions if not billions from the markets.
2 things to mention here:
1. There are too many Gold futures contracts for the amount of physical gold! So not enough to be delivered.
2. He said no one had previously, all the figures of Sovereign debt and he mentioned that after his investigation Ireland had debt 25 times more than it's revenues! Japan and France are 10 times.

The next thing to mention is that with Quantitive Easing in the UK what does this do?
1. Gives banks more money to lose
2. The banks are not using it for lending to businesses to get the economy moving.
3. It instills inflation.

Also, in Alastair Darlings book it became very obvious that apart from 1 Banker all the others had no idea what to do. Sir Fred Goodwin went to his house and asked the Chancellor what he was going to do!

So this is what I am coming to.
The economy will not pick up for a while. The Government and the regulatory authorities have no idea what the figures are and therefore, cannot make a final decision and that's why the problems will continue.
The UK banks are not lending, purely because of low profit. If you can get a loan today it will be at 14.9% against their funding of less than 1%.
Inflation MUST go up on any recovery. The UK banks will be the first to raise rates and then and only then will they lend.
So as I predicted some months ago Interest rates have to go up to between 10-15%. This should happen by 2016 which is the date I said recovery will be confirmed.
So if you have a long term view, buy bank shares in those banks that didn't need help from the government.

Desmond Tutu is 80 today but what will it be remembered for?

Congrats Desmond, who is still agile and active in life.
However, what will his birthday be known for?

The start of the Chinese global rule!
As I have said before, China is taking over all resources in the world and I also mentioned their taking over of Africa.
So how did this affect Desmond.
Well he wanted the Dalai Lama to come to his party and the government didn't act quick enough to give him a visa and why?
Yes you have it the Chinese told the South Africans not to process a visa for him.
Can you imagine in the past such a thing. Of course not the Dalai Lama wouldn't have needed a visa they would have whisked him in and marketed the fact!

So governments be warned the take over and pressure has started!!

Conservative conference

Basically, it highlighted the problems with the coalition and within the Tories.
Cameron made some errors and quickly adjusted his speech accordingly after having leaked their content to see how the Tories viewed his comments.
Then all he could do was to ask people to show the 'Bulldog' spirit which means he can't think of anything else.
Highlights:

* The Prime Minister pledged to introduce new tax breaks for married couples, although there was no detail on when or how the tax system would be reformed. This was made after comments by Ian Duncan-Smith who highlighted before the conference that the PM hadn't introduced what he promised.

Amid fears among his aides that Mr Cameron is alienating women, the speech also reiterated a pledge to make Britain more family-friendly. The Conservative leader also stressed his awareness of the problems faced by millions of people struggling to cope with higher household bills. Not sure how this stops alienating women?

* Mr Cameron expressed his frustration at European regulations which were hindering enterprise – and promised to do everything possible to free up business in a bid to kick-start the economic recovery.

No details how!

* A new “focus” on adoption was announced, with councils warned they must end politically-correct guidelines which blocked inter-racial adoptions. He also expressed his concern at the “apartheid between our private and state schools” which he described as “one of the biggest wasted opportunities in our country”. 

He didn't go further with Politically Correct uselessness!

* The Conservative leader launched a robust defence of controversial proposals to reform the planning system. However, he said he was “open to constructive ideas” as ministers prepare to water down parts of the proposed reforms. Backtracking.

* The courts were ordered to make the “speedy justice” introduced in the wake of the riots the norm. Mr Cameron said that his “driving mission in politics” was to create a stronger society where people knew the difference between “right and wrong”. The courts just adjourned 99% of the riot hearings so it didn't really do anything.

In the speech, the Prime Minister also compared the decision to intervene in Libya to his determination to tackle the country’s economic problems.

“When it came to that decision to help the Libyan people, there was something dispiriting about the debate here in Britain,” Mr Cameron said. “It wasn’t that some people thought we shouldn’t do what we did – that it’s never right – that’s a point of view and of course it’s everyone’s right to disagree.

“It was that too many thought Britain actually couldn’t do something like that any more. And you hear that kind of pessimism about our economic future, our social problems, our political system. That our best days are behind us. That we’re on a path of certain decline. Well I’m here to tell you that it isn’t true.”

What will Libya give the Uk? Nothing! The new government said it will not favour the Brits. After the last bombing by USA the French sneaked in and took all contracts. Watch them do it again, saying they played a major part!

Over the next weeks this conference will be ripped apart!

GMT to end!

The French ar at it again and it looks likely that they will win.
They want to stop the use of GMT and use the atomic clock, which differs to GMT by about one second in so many years.
What is the point?
Because the French don't want anything that is EEngleesh!
This will mean changes to clocks, procedures, books etc.

Is this another way to create jobs and expense.
Not really just the Frogs being belligerent!

This is the state of Law in the Uk!

http://www.telegraph.co.uk/news/uknews/crime/8798520/Ali-Dizaei-reinstated-at-Scotland-Yard.html

If you and I commit a crime we cannot apply for a legal job, we cannot apply to many jobs, but it seems the police are above the law after all and look after each other !!

Eric Pickles stands for Common Sense

http://www.thesun.co.uk/sol/homepage/news/3845038/The-weekly-bin-round-is-back.html

Why does the UK need the Eu? It doesn't !

So this week we have an acceptance for the Greece debt problems. However, these will prove to be only temporary.
Working for a bank that is a combination of 2 counties I am beginning to see cracks.
The bank seems to have panicked and are now slashing jobs left and right!

Now the EU is trying to force the UK into 2 things at the moment.
1. Give benefits to any EU national who comes here for a holiday. This of course will not work the other was as other countries may only offer a pittance of benefits or will not give them to visitors.
2. Trying to force the Financial business into restricting derivatives in the financial markets.

The UK will not like this as approx 25% of HMRC revenue come from banks and their trading.
Which is why the EU wants it to be spread to Germany and France etc.

If we left the EU, we would save an enormous amount of cash to pay off our debts.
We would be able to control our laws and general sales rights.
Lots of other items

It will also put a huge financial pressure on Germany and France (who is a net taker of cash from the EU)

Yes Germany is our best trading partner of 40%, but will they stop trading with us? Maybe by putting an extra tax on us. However, we will find other markets to grow, like the USA and Far East.

I think it's about time our Government started to think with Common Sense and put the pressure on the EU and not the other way around.
What I do think strongly is that if the UK break away then other countries will as well, like Denmark and Holland, which both countries think alike the UK.

EU are thinking of taking Britain to court over rules to stop visitors taking our benefits

My comment is ' let them' it gives us another reason for protectionism and another reason why the Euro and the EU is in a mess!

http://www.telegraph.co.uk/news/uknews/immigration/8798095/Brussels-threatens-to-sue-Britain-to-let-in-benefit-tourists.html

The EU is now a bottomless pit!!

http://www.thesun.co.uk/sol/homepage/news/politics/3842955/City-fury-at-Euro-chiefs-40bn-raid.html

Not only this but the IMF want us to fund its top up as well.

Economic cycles

Some years ago when I was a Trader I started to look at various charts and the patterns that formed in Economic situations.
One caught my eye, which was the global Economic chart.
It basically showed, that downturns lasted for 15 years and upturns lasted for about 7 years.
If this is true and I can see no reason why it isn't, based on the current downturn, we can expect the current downturn to stop about 2016.
This of course depends on when the market thinks the downturn began, so I will leave my readers to look into this!
I would expect things to pick up a little in 2014, which is what I said some months ago, with the claim that we are on an upturn in 2016.

UK legal system is an Ass!

Normally for you and I the legal system is full of people with Aspergers people ( not a bad thing). Why?
They only see white or black and no grey!
Now we seem to have a new breed of judges who are grey!
http://www.telegraph.co.uk/news/8789813/Dale-Farm-travellers-win-legal-battle.html

If the 'Travellers' win this will give them the right to drop in on any land and take it over without cost!

It has already been entitled the biggest illegal caravan site and yet the judiciary system cannot make it's mind up.
Let's be honest, no one wants them around least of all Vanessa Redgrave who is supporting their campaign. Is she looking for a new film role? She wouldn't want them at the bottom of her garden.
One of the arguments they used, was that they are travellers, so why would they want a stable area.
I also object for 3 other reasons:
1. They steal. Wherever they show bikes, cars, copper etc all go missing. Also my recent Asda watched then walk out of the store with full trolleys and the local police did nothing either.
2. They spat at my daughter recently when some showed up in my town. all she did was to walk past them.
3. No matter what they say, they are NOT tax abiding residents. As much as possible is done in cash, so how can they pay tax.?

I really hope that Basildon council win, but somehow I doubt it.
The police are scared of them. So they are a law unto themselves. In this case though I think that there will be a backlash and the people of Basildon will take the law into their own hands.

Labour Party speeches

I am astounded.
Labour of course blaming the Coalition or maybe just the Conservatives as hacking the NHS  and every other dept.
What is amazing is that the Labour government raised tax rates and are now advocating cutting them and blaming the Conservatives.
This is just bonkers.
Surely they don't think the electorate are that stupid! Maybe they do!!

The Greeks have a history of defaulting

4th Centruy BC 10 Greek Municipalities defaulted. There have been other times since.
1932 was the last time.
Ok a bit of a difference in dates but it is fact.
What is also fact is that the Euro caused it'S own downfall. They all knew that Greece should not have gone into the Euro, but the ECB tried to force the UK's hand but it didn't work.
They did not and have not, met the requirements.

Now the UK is going to have to help bail them out as I said some months ago.
The very fact that the IMF is now helping means that there will be bonds that the UK govt will have to buy.
This will mean many billions of pounds taken from us, when we are trying to rebuild like everyone else.
The IMF also wants to build it'S insufficient fund up and is suggesting more funds to be paid.
UK contribution will be 4.5%. So if we take a minimum, the UK will have to pay between Stg 22.5 to 45 bln.
This is on top our debts of 80-100bln.
This of course MUST mean cuts in expenditure.
So expect higher unemployment !!!

European crisis and who is to blame?

Well we are seeing the markets crashing again and warnings by the Bank for International Settlements saying that there is a gap of bank funding of USD 4 trillion.

What does this mean?:
1. The IMF doesn't have enough money to bail out on a large scale
2. The European Central bank has made some BAD decisions, least of all raising rates earlier this year
3. Bank for International Settlements which is the 'God' for banks, cannot provide correct controls
4. No control or Risk Management can cater for such a crash
5. We haven't learnt the mistakes of 1930'ish crash
6. Banks must have a clear out and stop the casino gambling and get back to basics
7. People must go back to cash under the mattress
8. Banks ripping people off will not save them
9. China is laughing
10. USA is lifeless as they are in trouble as well
11. There can never be a Euro again with a single Central Bank providing control for several countries.
12. Politicians are idiots and hope that sticking their head in the sand will solve the issue

UK secret plans if Greece are bankrupt

Apparently there are secret documents providing a plan if Greece are bankrupt.
Even quoting the law for Freedom of Information won't provide a glimpse according to the newspapers.
Until such a time I guess we bury our heads!

Whatever plan it is,  it is still bundled together by the Nimkumpoop economists and politicans we have!
Don't expect any wonderful solution.

Bring back protectionism now!

The only way to save the UK in the short term is to protect us from:
Foreigners using the NHS
Foreigners using the Social benefits
Foreigners from taking jobs
Foreigners exporting our economy
Foreigners importing their own countries problems
Foreigners from stealing in gangs (copper wire, car parts etc)
Foreign Aid

Many more examples!

Greece and UK involvement in bailout

I mentioned several weeks ago that the UK will end up bailing out Greece.
Well we will !
Even after all of the austerity packages the Greeks cannot cut the debts and here is why:
The Greeks do not pay anywhere the amount of tax due and they fiddle all the time.
VAT collected in the town Corinth  in the past 6 months was Euro 18,000 !
There has been a number of payments gone to Greece but still they are no where near to sorting their problem out as this money has gone to pay salaries.
Threatening not to pay anymore seems to be against the fact that the EU leaders don't want Greece to default!
Unless Greece is forced to take tax payments they will NEVER sort their debt issues out. It's only common sense.
We all know they have to go bust. The politicians would not make traders, because they cannot cut their losses!

So where is the UK involved in the funding.
Well the EU leaders are creating Euro Bonds, which the Germans do not want.
So basically each EU member will have to buy a portion of these bonds.
Hang on a sec! doesn't the UK have a debt problem - Exactly, so it'S pass the the parcel time!

The yanks going to Poland to tell the Euro members to sort out their debts was a joke ! Don't they know they are worse than countries in the EU and are a spent force?

Siemens withdrew Eur 500 mio from a french bank in the past week, so this isn't good????

It'S also curious how Angela Merkel said that Greeces debt was Eur 500 Billion and yet the UK said at first it was under Eur 100 bln and this weekend the Sunday Times said it was Eur 328 bln. Can the UK people never get their facts right?
My guess is it'S now nearer to Eur 500-750 bln due to interests and other hidden works creeping out!

For all Tense and purposes the Euro is Dead in the water!

I have been quiet for a while because my wife says I am boring with the fcat I have been so right in my predictions!
Anyway this is another. It doesn't matter what the European Central bank says or does, it will not be able to stop the collapse of the Euro. There have been so many warnings and as usual the ECB President Mr Trichet has been slow and hiding.
Even the UK has acted and will still not be able to escape due to the exposure of the banks to Italy, Ireland, Spain, France and Greece.
I know that to shore up the Euro and countries that have debts to save other currencies, but it is a clear out time and back to basics.
Liquidity is King!

As I have said before, you cannot apply the same economic rule for all countries as they different economies and different cultures.
The Germans are now dead against anymore bailout and the Dutch are paying money out all the time.
The people will not stand for this and the politicians just cannot understand this!
Today the IMF has come out and killed the markets, so not a good omen.
This includes USA

At the end of the day it will be the survival of the least debt. This means China!!
The tide of power is shifting very fast. The last time this happened was 1939 which concluded in a world war!

Shortage of UK Midwives?

http://www.telegraph.co.uk/news/8764248/Dangerous-shortage-of-midwives-is-putting-mothers-and-babies-at-risk.html

A very strange headline.
My daughter applied for a University place for this career and was told that the course was full and no more planned for at least a year.
Her due date for enrolment is for 2013!!

So on one hand the courses are full, but on the other there isn't enough courses or money to train anymore!!

Take profitability away from the banks !

Now this is a good idea and one that I have mentioned in the past i.e. Post Office

http://www.telegraph.co.uk/finance/economics/8760901/MPCs-Adam-Posen-calls-on-Government-to-set-up-state-bank-to-help-small-businesses.html

The sad state of UK youngsters employment prospects

http://www.telegraph.co.uk/education/educationnews/8759320/OECD-UK-has-more-jobless-teenagers-than-Slovenia.html

As I say, bring back national Service !!

Baroness Ashton and the EU need putting into touch!

Whomever, recommended Baroness Ashton to head the EU, must be sorely regretting it.
She is unproductive and does everything she can against UK PLC.
Not only that, she is s parasite. Asking for Stg 25 million extra for more staff! Good God! how many does she need?
The latest is that the EU wants a central command for the military and that Britain is to be frozen out.
Now I may be old but:
We are the only active nation for defending countries and that includes those in Europe
We saved the European countries from Hitler
Our armed forces are always in the front and tend to get killed more than any other nation.
We did have the biggest active armed forces in Europe.
We have the biggest expenditure in military equipment.
The EU wanted one military force, but seem to disregard the UK

http://www.telegraph.co.uk/news/worldnews/europe/eu/8747399/Big-five-tell-Baroness-Ashton-to-bypass-Britain-over-EU-military-HQ.html

This is all leading to UK pulling out of the EU and not before time I say!!

Why we can't find jobs

The UK Government is an ass!
They keep telling people to find jobs.
One reason we can't is this!!
http://www.express.co.uk/posts/view/269458/15-000-Romanians-are-chasing-jobs-in-Britain-each-month

This is just one country's immigrants !

Banks are liars and we will revert to money under the bed

Banks are refusing to increase mortgages to 30% of the value of the property.

If this is the situation where are they lending?

According to the newspapers today, they are lending abroad, which will create more debt and they expect the tax payer to dig them out again!
I can see a number of banks going under.
I am now beginning to think, that my money is much safer under the mattress and screw the banks. All they do is charge me currently exhorbitant fees for doing very little.
Their time will come.

I am still in favour of the Post Office being made into a fully fledged bank under the stewardship of the government and not ripping people off. Come back the old 'passbooks' and get people back to thinking of savings again.
However, loans are available at a limit of income or monthly income.

Another Think Tank, another waste of time.

A Labour backed Think Tank has come up with the same old stuff.
Benefit claimers must have a job at the minimum wage, for 6 months and must be given a job.
This takes them away from the benefits.
Also they say they can work a maximum of 30 hours so they can look to get a permanent job.

Flaws:
Labour lost all the jobs, so where will they come from.
Minimum wage may not support the families.

Absolute waste of time with a number of eggheads which seem to be up someone's derrier!

Our solution:
Create real apprenticeships which Cameron has failed to do. He promised 300,000 so far very few.
Bring in National Service so that the community can gain resources
Introduce education to National Service for those who failed at school with students being mentored by students. This brings a community service approach.
Stop immigration. The net immigration has risen by 237,000 last year.
Start building programmes for Indiginous people and not travelling Europeans i.e. look after ourselves.
Many other suggestions.

If people will not work after such a programme, then stop their benefits.

Scotland are University racists

3 English students are taking the government of Scotland to the Human Rights court.
As I have pointed out before universities to Scottish clans are free of charge and we in the UK pay for it.

Europeans get it free as well.

But for the UK students we have to pay for it. So not only do we fund them, we have to pay for ourselves on top!!

The Human Rights court seem to judge on the side of the small person, so what's the guessing the UK students will lose!!

Russians raid the offices of BP

Well what does BP expect.
First they paid an absolute fortune to have a presence in Russia. I warned at the time it wouldn't come to anything.
Now a day after they sign with Exxon they raid their office.
I bet the head of BP will be arrested etc etc!

There are 2 sure things in life.
The Russians will screw you and so will the Chinese.

I have dealt with both so I know!!!!

Why I have advocated that Scotland should break away!

http://www.dailymail.co.uk/news/article-2031543/A-deeply-divided-kingdom-Scots-1-600-state-cash-year-spent-English.html

Surely this is a tax on alcohol no matter how you put it!

http://www.telegraph.co.uk/foodanddrink/8730010/Punters-could-pay-tax-to-cover-cost-of-clearing-up-mess-caused-by-binge-drinking.html

This doesn't cure the problem, that's why it's just a tax

Become a Quango boss if you want to be rich!!

Labour introduced most of them.
Now they all talk with forked tongue!!

http://www.telegraph.co.uk/news/politics/8729962/Quango-bosses-double-their-pay.html

Euro fall will cost the UK billions!

As I said a while ago, the collapse of the Euro WILL affect the UK with funding to the IMF.
Lo and behold the new president of the IMF is already warning that funds will need to be increased to the IMF.
Expect this to cost the UK about Stg 50 - 100 bn. Why you may ask?
'Cos few countries have any money or can print it fast enough!
Apart from:
Greece
Italy
Spain
Ireland
Belgium

The IMF is funding:
Asian countries
African countries
South American countries


Lets look at the Euro countries:

1) Andorra
2) Austria
3) Belgium
4) Cyprus
5) Estonia
6) Finland
7) France
8) Germany
9) Greece
10) Ireland
11) Italy
12) Kosovo
13) Luxembourg
14) Malta
15) Monaco
16) Montenegro
17) Netherlands
18) Portugal
19) San Marino
20) Slovakia
21) Slovenia
22) Spain
23) Vatican City

You may notice countries not even in the EU!

Now look at the countries in the EU:

Countries

This section provides general information and basic facts and figures on all European countries. They are divided into EU member countries, countries which have applied for EU membership and others.
You will find basic information on the country’s political system, history, economy, geography and traditional food.

 Member states of the EU

• Austria
• Belgium
• Bulgaria
• Cyprus
• Czech Republic
• Denmark
• Estonia
• Finland
• France
• Germany
• Greece
• Hungary
• Ireland
• Italy

• Latvia
• Lithuania
• Luxembourg
• Malta
• Netherlands
• Poland
• Portugal
• Romania
• Slovakia
• Slovenia
• Spain
• Sweden
• United Kingdom

Who can put more money in?
Germany
Netherlands
Austria
UK
Sweden
France ( very Iffy)