RECESSION – A DERIVATIVE OF NEGLIGENCE OR STUPIDITY?.
Pathways lead “from somewhere” in providing symptoms but should one treat the symptoms or the causes?. It is said that a picture paints a thousand words and so in that belief I have compiled the colours as to the paint to use on a fresh canvas – as given below historically in date order. You now being the ARTIST can you estimate what is to occur next?.
Industrialists are about INVENTION leading perhaps to profitability whereas Capitalists seemingly only concern themselves with money as a prosperity provider!. Money they say “makes the World go around” however where do ordinary People fit in?. Churchill in 1945 [ see below ] feared a loss of UK Trade to others however in 1986, after Thatcher came to power, she opened up a “live wire” of Trade in allowing the London Stock Market to be both deregulated and computerised. Much of Britain’s Wealth thus became “digitally encoded” and transportable in crossing the Atlantic. By giving an inch some will TAKE a mile but there again dominance also enters the equation. The BRETTON Woods agreement was signed WHEN Gold was the Reserve however by 1971 the DOLLAR replaced it by default. Then one has the costly Space Race to consider whereby the Soviets were leading the U.S and Kennedy wanting to compete by putting a “Man on the Moon” through the Apollo programmes. Then there was Black Monday [ 1987 ] followed by Black Wednesday [ 1992 ] and a 1995 Stock Market crash. On the 10th September 2001 D Rumsfelt declared War on the Pentagon as to financial waste since the military could not account for 2.3 TRILLION DOLLARS of expenditure. The following day the 9/11 incident occurred whereby the Nation was in horror as to events yet in 2002 it “then” became BIG NEWS again that the U.S Defence agency could not account for $2.3 TRILLION DOLLARS [ 25% of Funds ] while Mr Bush announces New Defence spending at some $48 BILLION or $8,000 for every man, woman and child in America.
Accountability as to spending necessitated the introduction of a CORPORATE INFORMATION MANAGEMENT SYSTEM (CIM) at the Pentagon costing some $20 Billion yet subsequently abandoned while in 2003 Mr Bush questions PENTAGON ACCOUNTING since it cannot find dozens of tanks, missiles and planes as $1 TRILLION is now reportedly MISSING!. Come December 2008, after a recession is declared, a reported $50bn investment fraud was exposed under the eyes of US Regulators in the financial Investment Advisory Business which affected Markets Globally while in the UK the Bank of England Governor openly admitted that the Bank did not understand the crises even given that “others” in the Financial Sector had voiced their concerns over a Credit Crunch looming!.
The U.S may declare that what “they do with their money” is an Internal Affairs matter but given the term “Globalisation”, where if one Nation walks with a limp all other Nations must do so too, can that be strictly said?. Power and Dominance is not about Ordinary People but about those having Wealth that can back ALL players in Wars. Its IRONIC that given History the Bretton Woods agreement was made and prepared well before WW2 had ended, meaning that as Ordinary People were killing themselves the Capitalists were planning New Financial Climates!. What has changed given todays situation?. One cannot blame Ordinary People, be it Americans or British etc, as to circumstances beyond their control which really leaves the ball totally in the lap of Governments and Politicians whom see little change as to their Living Standards or Expense Accounts at costs to their Tax Payers whom must shoulder ALL National Debt.
With hindsight what is most interesting is in how Technology has simply been accepted without any rational thinking as to its Cultural or Economic effects/consequences. Positive Technology is about gaining benefits whereas Negative Technology is about negative Cultural changes and financial gain without any thought as to Job losses or consequences should such technology be compromised by way of Data Security – Personal or Financial. Through Technological ignorance chaos must also result too and given the loss of digital data from UK Gov Departments [ See News 21st Nov 2007 onwards ] it does rather suggest a demonstration of incompetence awaiting a much larger problem be uncovered!.
What is “stability” given that Nations of People must survive on Part Time contracts as Investment Institutions chase ever Newer profits leaving business closures and masses of unemployed in their wake?. In the days of communication by Pony Express Services businesses enjoyed the benefit of “time” in overcoming their ups and downs as to operability whereas today events happen in nanoseconds forcing Bankruptcy and Labour movements. As businesses are forced to close in the UK it is also now becoming clear as to the extent of financial mergers and take-overs which have occurred behind “Static business Names” leaving consumers pondering as to whom they were really trading with leading to distrust. Globalisation being about Trade and Trade being about a Countries Economy just how much dependency on others should be allowed?. Indeed what is National Security all about given that a Country may not be able to survive without Imports of Energy or Food because that Country has allowed such commodities to lapse through better returns in dealing abroad?.
Should a Country remain economically strong it has a capacity to Aid others whereas for all to clutch at drift wood from the same sinking ship it helps nobody to reach shore!.
History in the making follows:-
1912: TITANIC sister ship to the Olympic hits an ICEBURG despite visibility being reported at between two and five miles on a moonlit night. Built by the Harland and Wolff in Belfast for the White Star Line. The White Star Line increased their insurance of the Titanic from $7 million to $12.5 million a week before sailing & J. P Morgan cancelled his berth along with fifty other first-class passengers. The Olympic [45,000-ton - maiden voyage 14 June 1911 ] was involved in many accidents – one was with British warship HMS Hawk to which NO INSURANCE payout was given since IT was blamed for the accident. On 12 February 1912 in another accident it suffered a broken propeller – AGAIN captained by Edward J. Smith. The propeller was replaced with one from the Titanic!. Such accidents had seriously damaged the ship and repairs would cost a fortune, possibly even seriously jeopardising the future of the White Star Line. The Belfast shipbuilder's chairman was Lord Pierrie and he was also a shareholder in the White Star Line [chairman was j. Bruce Ismay], now owned by America's Mercantile Marine, ran by financier J. P Morgan. It has also been suggested that Prime Minister Asquith was compliant with the conspiracy since THOUSANDS OF JOBS were at stake in the Belfast shipbuilding industry and this was an additional Irish problem Asquith could do without!. Subsequent VIDEO FOOTAGE of the TITANIC WRECK shows the letters M and P behind the fading name of Titanic.
1920’s: U.S prosperity – Ease of Loans and Credit
1929: BLACK THURSDAY. New York Stock Exchange crashes. U.S Great Depression.
1932: Dow Jones Industrial Average reaches 41.22
1937: Titanic cut up in place of the Olympic which sunk in 1912
1938: NY Stock Exchange unveils a 15 point plan in upgrading protection as to Investors.
1941: PEARL HARBOR. F D Roosevelt a 33rd Degree Mason takes the U.S into WW2 after which the National War Labour Board is created.
1943: U.S Great Depression ends through War related employment.
1944: Roosevelt announces a 6TH WAR LOAN DRIVE aimed at SELLING 14BILLION US$ in WAR BONDS to help PAY for the WAR EFFORT.
1944: BRETTON WOODS AGREEMENT officially signed by 44 allied Nations – GOLD was the RESERVE STANDARD. The International Bank for Reconstruction and Development [ IBRD ] was born.
1945: The International Monitory Fund [ IMF ] comes into being.
1945: TRANSATLANTIC TREATY – about Free Trade and Raw Materials. Churchill was NOT amused in allowing the U.S full access to the UK and Markets beyond which the UK had control over and so he watered down the Atlantic Treaty. [ See Thatcher below 1986 – The Big Bang [ London Stock Exchange ]
THE SPACE RACE BEGINS
1955: Walt Disney produces “Man in Space” for Wernher Von Braun. Millions Brainwashed into believing it!
1959: Soviet Probe Luna 2 crashes into the Moon – First Man made Object to reach it. Luna 3 sends back Pictures of the FAR SIDE of the moon.
1961: U.S not happy - President Kennedy proposes PUT A MAN ON THE MOON.
1962: Kennedy Tours Marshall Space Flight Centre - meets Wernher Von Braun. Kennedy declares the USA will get a man on the moon, and bring him back, by the end of the decade.
1963: Russia - First Woman in Space. Kennedy assassination in Dallas,Texas.
1964: The Soviet Union launches the Voskhod 1 into Earth orbit as the first spacecraft with a multi-person crew and the first flight without space suits.
1967: Apollo/Saturn 204 [ AS-204 ] - Fire Ignition Source unknown.
1968: FINAL uncrewed Apollo test flight.
1968: The Soviet Zond 5 spaceship is launched, becoming the first spacecraft to fly around the Moon and re-enter the Earth's atmosphere. Apollo 7 Launched.
1969: Apollo 11 Launched - Wernher Von Braun -Director of Marshall Space Flight Centre. C. Fred Kleinknecht greeted Astronaut IIIEdwin E. "Buzz" Aldrin Jr to the House of the Temple. Apollo 12 launched - 504 Moon Pictures: EVA=470 Minutes.
1970: FILM tapes stored at GODDARD moved to US NATIONAL ARCHIVES - nobody knows why?.1974: Apollo 18, 19 & 20 all cancelled. The Watergate trial begins.
THE DOLLAR REPLACES GOLD as the “RESERVE” STANDARD and THATCHER “opens up” DIGITAL Financial Markets through the LONDON STOCK EXCHANGE [ LSE ]. London, England being Central as to TIME allowing Global Trade a Business slot.
1971: The United States' suspension of convertibility from dollars to gold created the unique situation whereby the United States dollar became the "reserve currency". The BRETTON WOODS AGREEMENT was signed when GOLD was the "reserve currency". IMF gold reserves refers to 3,217 tonnes of gold held by the International Monetary Fund. The PRICE of GOLD was FIXED in 1971 at $42 a troy ounce ($1,370/kg) for accounting purposes just before the Nixon administration officially delinked the U.S. dollar from gold and instead allowed market forces to set the dollar's worth.
1979: UK PRIME MINISTER - Margaret Thatcher elected [1979-90 Conservative]1983: 26TH November. Brinks Mat robbery at Heathrow Airport, London, England. Six robbers helped themselves to £26 million [ THREE tonne of Gold ]- NEVER BEEN RECOVERED.
1986: THE BIG BANG. The London Stock Exchange [ LSE ] is deregulated and computerisation is introduced for the first time. Almost ALL firms taken over by FINANCIAL FIRMS. Foreign Exchange controls removed allowing money to freely go in and out of the UK, Thatcher provided a pathway for Foreign Banks to take on their British Rivals and the entire Market!. Privatisation soon followed whereby much of Britain’s Manufacturing Base was financially stripped and shipped abroad to increase investor dividends through cheaper LABOUR while others were cloned abroad in licencing deals [ there can only be one original ]. [ Now see NEW LABOUR 1997 onwards……………]
1987: Alan Greenspan becomes Chairman of the United States Federal Reserve.
1987: BLACK MONDAY. Dow Jones Industrial Average falls by 22%.
1990: Thatcher RESIGNS as the UK PM.
1992: BLACK WEDNESDAY. The Pound Sterling is forced out of the European Exchange Rate Mechanism by currency speculators and is forced to devalue against the Deutschmark.
1995: Stock markets crash. Stock markets around the world crash because of fears of a global economic meltdown. The Dow Jones Industrial Average plummets 554.26 points to 7,161.15. For the first time, the New York Stock Exchange activated their "circuit breakers" twice during the day eventually making the controversial move of closing the Exchange early (see October 27, 1997 mini-crash).
1995:12th January. Shadow chancellor Mr Brown stood up in Westminster to deliver a speech in which he question why the Gov was not more open and accountable to that of a Nation. Back in the 1990’s Labour promised to cull “Quangos” and even Mr Blair boldly pledged to consign quangos to the dustbin of history. In 1998 Quango’s cost the Nation about £24.1bn yet in 2006 UNDER NEW LABOUR their costs have spiralled to some £167.5billion!.1997: Credit default swap [ CDS ] invented by a team working for JP Morgan Chase. Basically equivalent to insurance EXCEPT that the CDS purchaser does “not need to own” the underlying security OR “even suffer a loss” from a default event. Thus ONE CAN bet on a Bank or Business going Bankrupt or a company going into receivership in a specific period of time to earn financial gains!.
1997: UK PRIME MINISTER Tony Blair ELECTED [ 1997-2007 Labour ]. Under New Labour COMPETITION was PROMOTED whereby ALL were to fight in providing Public Services to the General Public. Multiplicity and Duplicity resulted whereby Electricity Companies also sold Gas and Gas Companies also sold electricity ALL in the name of “CHOICE” as dictated by Mr Blair as being good for the Nation. Education was by the people for the people HOWEVER Mr Blair PRIVATISED Education too by first providing “Student Grants” but his main objective, since manufacturing had moved off shore, was to allow Education to become a Global Business in attracting Foreign Students in support of the British Economy!. Mr Blair, having lead the Nation into a costly Iraq War based upon gossip, has since resigned leaving co-labour Mr Brown in control while he has become an associate to J P Morgan chase in the U.S providing knowledge as to Economies commanding a large salary – A UK recession has since followed – see 2008.
1998: Exxon announces a US$73.7 billion deal to buy Mobil, thus creating Exxon-Mobil, the largest company on the planet.
MONEY – UNACCOUNTABILITY and LOSS
2001: 10th September. Donald Rumsfelt [ Secretary of Defence ] declares war on wasted money by the Military. Cannot track 2.3 TRILLION Dollars. Mention of an accounting game in play.
2001: 11th September - The September 11 attacks destroy the World Trade Center in New York City. US Airforce Base [Andrews ] 10 miles away - no planes scrambled until the 3rd plane hit at 9.38am.
2002: CBS NEWS. Defence agency cannot account for $2.3 TRILLION DOLLARS [25% of Funds]. last week BUSH announces $48 BILLION in new defence spending.$2.3 Trillion = $8,000 for every man, woman and child in America.
2002: GAO reviews history of the CORPORATE INFORMATION MANAGEMENT SYSTEM (CIM). After spending $20 BILLION the CIM abandoned. Gregory Kutz, Director of GAO's financial management division and co-author of that report, likened Defence to a dysfunctional Corporation, with the pentagon cast as a holding company exercising only a weak fiscal control over its subsidiaries - the Army, Navy, Air Force and Marines.
2002: California Governor Gray Davis announces that the state would face a record budget deficit of $35 billion, roughly double the figure reported during his re-election campaign one month earlier; the budget issue was used to support his 2003 recall from office.
2003: 18th May. Military waste under fire. $1 TRILLION MISSING - Mr Bush plans targets. Can't find dozens of tanks, missiles and planes. Bush proposal called the DEFENCE TRANSFORMATION for the 21st Centaury Act. Defence - recently failed its seventh Audit in as many years.
GLOBAL WARMING, ECONOMICS and DIGITAL DATA LOSSES2005: GLOBAL WARMING. In a speech Mr Blair reportedly said "The blunt truth about the politics of climate change is that no country will want to sacrifice its economy in order to meet this challenge.". When Mr Brown took over as the PM he had to meet targets on Climate Change thus addressing the issue!.
2006: 5th August. LOSS - ORIGINAL 700 BOXES OF TV TAPES OF APOLLO LANDING IN 1969 DECLARED LOST!.2007: 21st November. LOSS - Computer discs missing holding sensitive personal data on 25 million people and 7.25 million families along with the identities of hundreds of people in witness protection programmes. On the 20 11 2007 Chancellor Darling blamed mistakes by junior officials at HMRC
2007: 3rd December: LOSS - Bank details 'sold on internet'. The Times newspaper said it had found more than 100 websites offering to sell UK bank details, including account numbers, PINs and security codes, and had been able to download banking information for 32 individuals, including a High Court Judge, for free.
2007 6th December. LOSS – Bank account details of every child benefit claimant in the country including names, addresses, birth dates, national insurance numbers Chancellor Alistair Darling reveals. £20,000 reward.
20079th December. Computer Disc security warning in 2004: News of the World reveals that in March 2004 such worries were highlighted in a letter circulated by Treasury risk manager. Because no one took any action we now face a situation where millions of bank account details and information about all our children has been lost.
200712th December. LOSS - DRIVER DETAILS. A total of 7,685 vehicle-keepers' addresses, names and car particulars were lost at a Parcel force sorting centre in Coventry after the Driver and Vehicle Agency in Coleraine posted two uncoded discs to the Driver and Vehicle Licensing offices in Swansea, Wales.
200719th December. LOSS - Pensions data by HMRC. HM Revenue and Customs has become embroiled in another data scandal after it emerged that it lost personal details of 6,000 private pension holders.
200810th March. Data protection. The Government have failed to implement basic data protection policies, despite recent embarrassments caused by information breaches, research has showed.
200812th June. LOSS - £300bn wiped off value of homes
200829th July LOSS - Blank passports stolen from van. The Foreign Office admitted a serious breach of security took place after blank passports destined for British embassies were stolen.
200816th September LOSS - Details of 18,000 NHS staff missing. The personal details of nearly 18,000 NHS staff in London have gone missing in the post.
200827th September LOSS - Files on RAF staff stolen from base: Thieves have stolen files containing the personal records of thousands of serving and former RAF staff, the Ministry of Defence said. Earlier this week, a disc containing the names and addresses of almost 11,500 teachers went missing in the post.
2008: BRITAIN in RECESSION.
2008: 1st December. A soldier set upon after a night out. He was charged and convicted on two counts of attacking the UK Police Officers HOWEVER Liverpool Crown Court was shown CCTV footage of TWO Police Officers and a Special attacking him. HE thus won his appeal. In a statement following he said "I went into the Army thinking this country was worth fighting for. I put my life on the line every day in Afghanistan, so to come back and be treated like this for no reason was just so depressing."
2008: 15th December. Largest ever fraud under the eyes of US Regulators in the Investment Advisory Business. Regulators nor Auditors uncovered the fraud to which $50bn has been lost!. Bernard Madoff, former Chairman of the Nasdaq Stock Market, is purportedly have made complete fiction of all the normal rules of investment.
2008: 22nd December. Bank 'did not understand crisis'. The Bank of England did not understand the severity of economic problems before the current financial crisis, its deputy governor says.
2008: 30th December. A Student in Ayrshire had his Bank Account incorrectly credited then debited by around £100 Billion and was passed from pillar to post by the Bank whom then offered £10 in compensation!.
The Depository Trust & Clearing Corporation [ DTCC ] based in the U.S = the Biggest Bank in the World and the registered owners of 99% of all paper ( Stocks, Bonds, Securities etc )?. It apparently handles the book entries transactions for all banks and brokers. Its required by the FED that DTCC handle ALL transactions?. The question: Is it a privately owned depository bank for institutional and brokerage firms only OWNED BY THE SAME STOCKHOLDERS WHOM OWN THE FEDERAL RESERVE SYSTEM?.