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Cameron launches new power to the people plan
Professor | July 19, 2010 at 03:21 pmby
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News: 19 07 2010 Cameron launches new power to the people plan.
Following in the footsteps of M Thatcher and New Labour Blair/Brown camp Mr Cameron provides a continuity in transforming Britain into becoming simply another Member State of the US to which Britains Culture and International Identity suffers yet another blow.
Britains landscape changed when M Thatcher took up residence in No 10 (see 1 below) but even given such change, from being an Industrial Nation to becoming a Financial Model Nation, what was to follow in 2000 played its part too towards the delayed financial instability which resulted in a recession bringing great pressure to bear not only on ordinary British people and ordinary Americans but on all economies as to people through interconnected Global Financial Markets. To the latter I write of the USA Deregulaltion of Energy derivative contracts (“OIL”) (See 2) below) and the introduction of Credit Default Swop’s (CDS’s) – See 3) below. Of the creator of CDS’s its ironic that PM Brown present JP Morgan with a Portfolio of British Mortgages to off-set British debt while PM Blair (resigned) work as a consultant to the same JP Morgan on the basis of his valued contacts.
British Debt: As of December 2009 the National Audit Office (NAO) announced that the British Public Purse had bailed out the Private Banking Sector to the tune of some £850,000,000,000,000 [£850bn] while “advice to the Treasury on what to” be expected to balloon to some £107,000,000 [£<?xml:namespace prefix = st1 />107m] by next April. In the Gov becoming a “self-business” acting as an “interface” between taxpayers and investors it chose to borrow £850bn from the Public Purse on top of which it now requires a decrease in spending from the Public Purse in the order of some £156.1bn towards the welfare of taxpayers in order to rebalance Gov ledgers. Under New Labour £millions upon £millions in bonuses were consumed by Gov departments all while such staff also be in reciept of wages from the Public Purse making them benefits claimants parallel to benefits claimants at the opposite end of the scale whom be unemployed. All of this preceeds todays state of affairs to which Pensioners now become targets as well as anyone else whom happens to have a job as Tesco opens its Banking doors as one of the major employers in the UK.
money: A trading mechanism between goods and service providers however to extract money in becoming wealthy and not spend there is no requirement for either goods or services thus denying manufacturing, jobs, earnings, education and skill deployment as well as eroding economies and social well being. In essence money is an “I owe you” (IOU) awaiting an exchange to which lots of goods/services be owed (=debt).
(1) The changed landscape of Britain. Towards the protection of Britain Churchill recognised the importance of Britain’s Industrial Trading Base to which Public Services be dependant in not only keeping people gears turning as to the Nations incoming wealth & prosperity but also about the distribution of that wealth through common pricing as to transportation, energy and other Public Services as a United Nation. Under Thatcher, whose view of Britain be through a shop window, she disliked challenges to her administration by Workers Unions etc and her remedy resulted in a fundamental shift in Britain becoming a “Financial Model Britain” whereby “others” be delegated as Service providers shifting the focus away from the Government for any future failures. To the “sales” notice she posted in Britains Shop Window hoardes of wealthy US financialists responded by seeping into Britain buying-up much of anything and everything and translating them into Stock Market share dividends for entry onto the “digital” London Stock Exchange (LSE) which she opened. To privatisations came off-shoring to the “Made in Britain” Branding under licencing agreements that chased cheaper labour costs as goods then be “back-fed” into the country closing down originality on manufacturing.
In conforming to Thatchers Model subsequent Gov’s have continued with her approach in becoming “Self-Businesses” to out-sourcing acting as an “interface” between taxpayers and budgeted 3rd party Public Service providers (Trusts / Quango’s etc). As businesses unto themselves they took on the responsibility of the Gov while setting self-standards although also now becoming an “interface” between the Gov and the Public as well as an “interface” between the Gov and Investor needs through Private Finance Initiatives (PFI’s). In maximising profitability everything needed costing for entry onto ledgers and thus what were systems became fragmented into “base modules” such that handles be fitted for competition as to out-sourcing. In reconstituting systems back to wholeness regulators were introduced acting as glue on Standards. The Government was still the “Primary” Public Service provider for the taxes it received however since 3rd Parties were providing those Services it would be more Politically Correct to refer to taxpayers not as taxpayers but now as “consumers” in “Financial Model Britain”. While the existence of Industry to Britain gave clarity and a purpose to Public Services, like meshing gears in a gearbox, its depletion stripped those gears of their teeth resulting in what Britain has today – that of “free-spinning” gears. Each unto their OWN it is now about survivalisms financially in balancing on a tight-rope to satisfy both taxpayer/consumers and Investors whom both have different needs. As stated above, the Government is still the Primary Provider of Public Services and so to failures a “conflict of interests” surfaces – akin to Mr Darling using using Public money to bail out Private Banks. To “free spinning gears” not having mesh anymore “Gov targets” became essential and thus in a need to satisfy other dependant gears like “private (PFI)” prisons the Police are given targets along with bonuses in filling those prisons.
By Thatcher (resigned) not taking any responsibility towards the Nation that gave rise to the “blame culture” through privatisations and out-sourcing. Today chains upon chains of out-sourcing passes responsibility downwards and into the very laps of the taxpayers themselves while the “more for less” culture feeds upwards savings or financial gains from contractual failures (rewards by failure). Litigation, litigation and yet more litigation all stemming from the blame culture and which now places challenges on STANDARDS firmly at the doorsteps of taxpayers as oppose to the Gov on National Standards. New Labour gave Parents Laws to challenge Schools on standards yet by doing so it will be the Public themselves whom Privatise Schools and NOT the Government whom simply provided the “instrument”. A fistfull of dollars isn’t really what British Culture be about and yet as a result of irresponsibility and greed the British have become contractors to their own Nation.
(2) USA Deregulaltion of Energy derivative contracts (“OIL”) on Blairs watch (futures commodity). The Financial greed began following the 21st December 2000 as follows. In 1974 the Commodity Futures Trading Act (CFTA) was born followed by the Commodity Futures Trading commission (CFTC) but after a scandal the Futures Trading Practices Act (FTPA 1992) came to life providing more regulation to enforce standards on a “futures” base. The Futures Market is about selling now what is to become available later like crops still in the ground, electricity needing to be generated or oil etc. In 1992 Enron began petitioning the CFTC to remove “Energy derivative contracts” from Government oversight and in 1997 the then new CFTC Chairperson spoke out about the dangers of “deregulation” warning that the Commission wouldn’t have any data by which to oversee market movements or address any suspected price manipulations. On the 21st December 2000 President Clinton signed into Law the deregulation so welcomed by Enron while others were to benefit too like BP, J.P. Morgan, Morgan Stanley, Goldman Sachs, Citibank, and Chase Manhattan etc. To Enron’s speculating on energy contracts its profits quadrupled making more money between supply and demand than actually producing energy itself. To rising electricity prices in California it decided to investigate and by 2001 Enron had collapsed creating “holes” in financial Ledgers costing Billions as thousands of jobs were lost too. Given that deregulation is about no regulation or a curtailment of standards the CFTC in 1997 recognised what would happen in the Futures Market and it did to the cost of Ordinary Americans, the British and other Nations as prices rocketed yielding vast profits.
(3) USA Credit Default Swop’s [ CDS’s ] The Financial greed began following the 21st December 2000 as follows. 1997 wasn’t just a year to hear of a warning from the CFTC, it was also the year when a team working for JP Morgan invented a New Financial Instrument, namely that of Credit Default Swop’s [ CDS’s ] which were signed into Public Law on the 21 December 2000 by President Clinton, the same day that “Energy derivative contracts” were deregulated from Government oversight too. In essence this new instrument did away with a need for those borrowing to have any security since a CDS allowed others, not party to the receiving of the loan, to insure for premiums that the borrower defaulted on payments or become Bankrupt by a specified date/period. This new instrument served to removed “risk” from financial ledgers in providing a free-flow to easy loans in financial markets. For example in the UK one had to take out an endowment Policy etc as part of a loan requirement before receiving a Mortage in becoming a “beneficiary” prior to a last payment whereby one becomes the “registered owner”. To deregulation sanctioned by the British Government borrowers didn’t need to provide any evidence as to self-means of repayment should problems arise and so when the recession hit the defaults began piling-up forcing repossessions whereby any deposits paid be lost too. Obviously the purpose of a CDS is to remove “risk” and so as investors money be a provider of loans in generating profits investors money also be a return mechanism to gambling that such loans not be repaid, this promoting a culture of “reward by failure”. Given that investor technology automates factories driving-up conveyor belt speeds for higher returns the same had to devise ways whereby consumers had a means to empty those belts at a quicker pace too through easy loans allowing consumers to sink into deeper holes of debt.
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