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.