2008 & 23/6/16 . . . Evil Manipulation

EU photo

“You can fool all the people some of the time,

and some of the people all the time,

but you cannot fool all the people all the time.”

                                                                                      Abraham Lincoln


In my last piece I opened by referring to the increasing intensity of the ‘In/Out’ debate. 24 hours later the reality of what is going on hit me like a sledgehammer!

We are being ‘Divided that we may be Conquered’, as we have been for thousands of years!

We are being manipulated into fighting amongst ourselves over our membership of the EU, when in fact this is not the real issue.

The real issue now causing growing unrest with people is the authoritarian management of Europe by Brussels and its constant thwarting of the democratic process.

The whole question of Brussels constant mismanagement of Europe is not on the table. The financiers will not allow it; in the same way they did not allow discussion about the mismanagement of the banks 8 years ago.

In 2008 we were manipulated into handing over taxpayer money with the identical threats now being poured on us by the same institutions that robbed us then.

That scaremongering was about saving corrupt institutions who were ‘Too Big to Fail’ and was neither specific nor detailed in what would happen if we did not support them, (other than a complete collapse of the banking system, whatever that means).

There was no discussion about resolving the banks corrupt behaviour by reinstating the Glass Steagall Act, introduced in 1933 to separate traditional banking from investment banking (the very banking abuses that caused the Great Depression in 1929 is being repeated now because Clinton repealed the act in 1993).

Today we have a banking system that, once again, doesn’t actually carry out much traditional banking practice. It doesn’t lend to small businesses to help them grow and create jobs, neither does it take our savings and lend them out to earn us interest on the money we deposit with them.

Instead, because of our unwitting support back in 2008, it operates a ‘negative interest rate’ policy which will wreck our savings and pension provision, whilst printing money out of thin air, which it refuses to put into Society to create spending and new jobs. It also now seeks to abolish cash, to enable absolute control in manipulating our finances.

Because of low interest rates, banks have been allowed other ways to make profits, by expanding the disastrous gambling derivatives trading – which caused the last collapse – using our savings and other money held with them to place their bets. The size of this market is truly mind boggling and illustrates why they desperately need regulating.

The ‘bankers bank’, the Bank of International Settlements, attributes the size of derivatives trading at some $710 Trillion in 2014. However, their figures are somewhat ambiguous – they do have a vested interest according to other financial experts – who attribute the actual figure to be nearer $1,200 Trillion Dollars … 20 Times Larger than the Global Economy!

The extent of such recklessness is evidenced by Goldman Sachs alone, whose total exposure to derivatives contracts is more than 460 times greater than their total assets!

When this market finally collapses (and it will because it is gambling), the effects upon all of us will make the 2008 collapse look like a walk in the park and something that could take generations to recover from. (A proposed new EU moratorium – recently reported by the FT – would also stop depositors getting to their money if a bank was collapsing.)

I make no apology for repeating myself.

They have been able to continue abuses of such magnitude because we (unwittingly) supported them by giving in to their threats with the Bail Out. That same threatening behaviour is now being used to demand our support with Britain’s continued membership of the EU.

If we give in to the banks this time we will be abused again by what I would call ‘democratic leverage’. If we agree to ‘Remain’, by default we are endorsing Brussels and their Neoliberal agenda, in the same way our bail out of the banks was seen as our endorsement of the banking system.

Brussels will run amok, as the banks have done and the starting point will be the implementation of TTIP to secure corporate dominance over any type of people driven democracy. Don’t forget that this trade deal is irreversible once implemented.

By our agreeing to remain in the EU we will give Brussels the power it needs to press ahead unhindered with its agenda of neoliberal policies that also includes ‘Austerity’ and ‘Privatisation’.

Whenever I am asked to support someone, or something, be it a group or idea/philosophy, I listen to what is being said and allow for the bias of the presenter. But of far greater importance, I always look at past performance (when available), for some sort of track record.

Past performance never lies, nor can it be fudged. It is cast iron evidence of a mind-set and level of integrity/achievement. Who would you back in a business venture – Richard Branson, or Bernie Madoff the king of Ponzi schemes?

As far as Brussels running of the EU is concerned Greece illustrates perfectly both their incompetence and brutality. In their determination to build a powerful bloc of European countries, as quickly as possible, they took in Greece by the same criteria with which they took in France, Germany and the UK . . . bums on seats!

When the reality finally surfaced, of just how bad a decision they had made, their reaction was frightening in its ferocity. The cover up by the banks of the extent of Greek debt on joining was ignored by those same banks and their political stooges. Instead the country and its people were made out to be inherently crooked, as the banks sought more plunder and the technocrats sought to cover up their blunder.

They did this by ignoring Greece’s democratic referendum and inserting unelected technocrats to run the country over the newly elected government. These ‘unelected’ rulers then applied increasingly more crippling ‘Austerity’ measures, so that an already heavily indebted country would qualify for more loans to pay the interest on existing odious debt (that should have precluded their original membership anyway!).

None of these loans have been allowed to be used to create jobs and rebuild the economy but exclusively used to pay interest.

Aided and abetted by the European Commission and European Central Bank the Greek people will be living in penury for decades. Their sovereign assets will continue to be stripped from them and there is little sign of any change or improvement in sight for this generation, or the next.

For me, 2008 and the tragedy that is Greece today, offers a huge and truthful insight into the mind-set of the powerful people behind how Europe is being run. These are not lies, or carefully crafted propaganda but true and real experiences, along with the pursuit of Fracking and TTIP, which we are now demanded being asked to vote ‘Remain’ and in so doing, support.

With the best will in the world my friends, I will not be manipulated by the diversion of an ‘In/Out’ vote.

It has been specifically designed to provide the means with which to pressure us into handing our future over to a set of Neoliberal values that are already proven to be destroying Society, along with this beautiful Planet. ENOUGH!

WHY? . . . Because the people of Europe deserve and can achieve so much better.

WHY? . . . Because they have already invested a lot of trust and hard earned money in this project.




Until the next time.


Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes