Tag Archives: Money

Another random thought on Scottish devolution v1.08 – v1.11 rel 2

Okay, suppose the ‘Yes’ vote does have it, and Alex Salmond leads the Scots towards an oil-funded socialist utopia. Which has worked out really well for the Venezuelans hasn’t it?

Will this mean;

  1. The expulsion of any person with an accent deemed ‘Too English’ or ‘Not Scottish enough’.  Trust me, this does happen.  I have a relative who left Scotland in the early 00’s because he was sick of the prejudice against him (Graffiti on house, social exclusion, overt hostility) because his Dundee University educated accent sounded ‘Too English’
  2. The resumption of cross border cattle (or sheep) raiding as an (Even greater) economic growth area?
  3. Civil unrest when the Scots find out there’s not so much oil to fund their economy and all the real money goes South?
  4. Subsequent forcible repatriation north of the English / Scottish border for anyone who is Ginger?

 

Canada recognises Bitcoin

Bitcoin CanadaJust caught this off The Register. Bitcoin just got the endorsement of regulation in Canada. My, my. On the same footing as the Dollar no less. A little bit of a two edged sword this, as by putting Bitcoin on the official list of currencies, the various exchanges will have to register and comply with the financial regulations up north of the 49th parallel or get out of Canuckland. However, the upside is that by recognising Bitcoin, it gives the controversial crypto-currency a veneer of respectability, and encourage wider trading and convertibility. Which in a wider sense can be considered a good thing. Even if the main intent is to allow the taxman to get a piece of the action.

First the Enbridge pipeline gets approved, now this. Canada’s economic future is looking brighter all the time.

On politics and banking

The Politics of BankingI’m currently a very happy bunny and enjoying the relief that my new knee strap has brought. No crunching noises in my creaky old knee joint when I try to move quickly, or lift heavy objects. No detectable pain and I can now walk miles without a single twinge. Why aren’t these things compulsory for old knee injuries like mine? They’re worth all the painkillers and surgery in the world. None of the surgeries I’ve had have done anything to alleviate the discomfort since I first popped my knee playing Rugby. This fabric and gel pad thing has relieved all my symptoms inside forty eight hours. Although I’m taking it easy, just in case I screw up again.

Whilst enjoying this surcease, I visited Theo Sparks blog and saw the above. So I nicked it. Says a hell of a lot about the West’s current regime of casino banking. I think the world and his wife are aware that the current structure is unhealthily unbalanced, allowing those who control the flow of numbers to confiscate at will. Especially now the UK HMRC has the power to asset strip at will anyone it even suspects of not coughing up what the tax man says is a ‘fair’ share. Fair for whom? One might ask. In the US the tax man currently even ‘audits’ people for having the ‘wrong’ political views. Whoosh! Where did all those emails go and how many Server hard drives did they have to trash?

Both of which make me wonder about how open to abuse and corrupt the West’s financial system now is. The Russians are looking for a way out and the Chinese basically own all the USA’s markers. Even the fiscally cautious Mrs S has been asking me about Bitcoin and there’s even a Bitcoin ATM Downtown on Government Street. I’m tempted to try Bitcoin out on a small scale myself. Stick a few on a SDHC flash card (Not a USB stick DVD or CD – lifespan issues) in a shielded safe and Robert is one’s Father’s Brother n’est que-pas?. Unless someone crashes the entire Internet, in which case the West’s financial pooch is so screwed it’ll have had puppies.

Bitcoin as an alternative to the current mess of fiat currencies makes sense to a certain extent, but how vulnerable is it to external interventions? There was the market glitch back in December 2013. What happens if the US Government were to declare by presidential decree that Bitcoins were banned? Probably the same result. There was a big drop, a massive rebound, and Bitcoins that were trading around 4-580USD are now valued around 6-690USD (June 2014). Which left a lot of economic prophets of doom with serious egg on their faces.

That thought leads me to wonder about some of the recent political upheavals of the last fifty years. The Anti-Apartheid movement wasn’t making much headway until the Afrikaaners introduced the Krugerrand as legal tender. Then the politicians really got involved. At the time of the second Gulf War, it was rumoured that Iraq under Saddam Hussein was contemplating going back onto the gold standard, as was more recently Libya. Look what happened there. Iraq made large purchases of Gold in March this year, and lookee here, a bunch of foreign sponsored raiders are invading while the US drags its feet. At the risk of raiding the bacofoil, I’d say a certain pattern is emerging. Oil rich Country tries to go onto gold standard = Casus belli. Not so much blood for oil as blood for gold. Or in the Ukraine’s case, blood for gas.

Which further leads me to think that if the pattern of money and war, boom and bust is to be broken, maybe a more democratic currency (Out of the hands of politicians and bankers alone) is the way forward. Hmm.

That’s it for now. I’m off for a walk to test my recovering knee joint. The Galloping Goose trail calls.

Jail the parents!

So says a journalist in the Barclay Brothers Beano. Apparently two parents in East Anglia are to be hauled up before the beak for allowing their child to reach fifteen stone. It is worth noting that the original article in the Wail says that the boys father is twenty stone and out of work. Apple not falling very far from tree, methinks.

A more reasoned discussion has been carried out here on debatewise but the principle of state intervention to cut costs for the ‘wonderful’ NHS should be asking the greater question. Which National Health Service? Oh, you know, the ‘wonderful’ NHS where patients can be neglected by nursing staff whose focus is more on paperwork than actual care, and where the elderly can die a nice, lonely but tidy death in a hospital bed from dehydration and starvation in their own urine and faeces, that sort of thing. Don’t believe me? Start here.

The greater questions should be; how does the family benefit from being prosecuted and their child being put in ‘care’? How much money do these court and care processes take away from the UK’s ‘wonderful’ NHS? Let’s do some joined up thinking here. Police manpower, cost of lawyers and court time, costs of appeal, fines, jail time for being unable to pay fines. All on the public purse because the parents in question are not exactly high earners. Criminal records further damaging their prospects of employment, thus keeping parents out of the tax contributing workforce (If there were suitable work to be had). That’s even without factoring in the costs of God alone knows how many social workers. The cost of long term ‘care’ (Meals, facilities, security) with all the fees for a swath of behavioural interventionist consultants whose services are not exactly free.

What the screaming interventionists don’t seem to understand is that all of these things don’t come cheap. If your principal goal is to save the NHS money, even a fairly cursory analysis demonstrates that intervention of this kidney isn’t really the right way to go about it.

One is left with the thought that on balance it will probably prove more economic to treat the child for any conditions that crop up when they actually do, not trying to second guess what conditions will arise because it’s not unknown for the fat kid at fifteen to discover girls, or get so hacked off with being ill that he spends a couple of years getting into shape off his own bat, living to a ripe old age. Either that or the young man will die young, thus actually cutting the long term treatment bill. No prosecutions required.

Think of the savings to the ‘wonderful’ NHS.

Hi-ho. Lovely sunny day here in BC and the weekend beckons. Done with unpacking and am thoroughly enjoying being able to walk to the nearest pub. Now there’s a thought

That Queens speech thingy

Just finished moving in to our new Victorian domicile. I like this place. Should have moved earlier.

Took a break from unpacking and a wander over to the Barclay Brothers Beano for a meander down the latest list of legislative disasters as given by our Liz. The bill that caught my eye, and for a moment my breath, was the proposed bill which will give HMRC the power to demand money up front if they even suspect you are squirrelling some dosh away for a rainy day. Not only does the UK tax man already have the power to raid bank accounts at will, allowing them to asset strip people without power or influence down to their last five grand, but those rapacious tax gatherers will shortly be able to do it without due process. Only suspicion of wrongdoing, never mind the evidence. All it may take is a simple denunciation from one of those despicably cretinous cunt-stooges like UKUNCUT (May they burn forever in all the hells humanity can imagine), and any assets, personal or company, on which tax may already have been paid will magically disappear from bank accounts up and down the UK. Probably from a lot of expatriates who may well find themselves fighting a legal battle they no longer have the wherewithal to afford, or the air fare back to fight their corner. Having been well and truly sheared without any evidence of wrongdoing or contestable legal proceedings. Precedent, sets, dangerous, a, this (This cliché was purchased from Canadian Tire in flat pack format – some reassembly may be required). In spades. Even if the Chancellor says the affected will get their money back with interest ‘if they win’. Big ‘if’ there, chunky.

You know, as a keen student of history I’ve always wondered how come the Germans, who I’ve always found in person very civilised and cultured people, came to fall under the spell of the worst amoral Jackbooted fascist rob dogs in history. A piece in that jigsaw just fell into place.

How many more times – it’s a bad idea

Look, we know big Government is broke. The all conquering Godzilla flat busted and continually bleeding from a million leaking capillaries, fed on by an army of bloodsuckers which infest its scabrous hide. The more it’s fed, the more it bleeds. So perhaps it needs to go on a serious diet?

While my thinking errs of the side of the low tax, small Government faction, I understand that there is a need for some form of regulatory framework. Unfortunately, I don’t think anyone outside of a few specialist lawyers really understand the current tangled mess but what I do understand is that if your boat is sinking, the last thing you do is load it down further.

Yes, chums. The EU have pushed for, and got, a ‘Robin Hood’ or more accurately a ‘Tobin’ tax on all Eurozone financial transactions. Again. Why do they need the money? They’ve got all the sparkly buildings, inflated salaries and expense accounts avarice could dream of, yet like a junkie their spending habit is never done. Not until they go cold turkey, OD in some dank little bedsit somewhere, or prematurely slide out of this life as their vital support systems (A.K.A. the taxpaying public) fail one by one until nothing is left. Which is currently where things are. Some serious liposuction on the bodywork is called for, followed by a very large tummy tuck, not more sugar frosting on their doughnuts. Yet in 2016 this tax will be enacted in France, Germany, Estonia, Spain, Portugal, Italy, Greece, Austria, Belgium, Slovenia and Slovakia. Which will have a knock on effect in the City of London. Or more likely the City Financial Markets will do what they always have, pass the cost onto the Poor Bloody Investor.

For some people, this will simply prove another vehicle for the many EU Carousel frauds, like those continually afflicting the farcical ‘Carbon trading’ markets. Five billion lost at the last count, and that’s with a flatlined marketplace.

Robin Hood is upsetAs for ‘Robin Hood’, well a very large raspberry to that. If he were still around, our eponymous outlaw would be rightly affronted by such a reference, perhaps dropping a couple of bodkin points or hunting broadheads into the greedy breasts of our worthless modern day political leeches. Like the medieval churchmen of old, an encounter with the real deal would leave them with their purses stripped, and forced to go whining to the Sheriff wearing peasants rags. There’s an intriguing notion; EU Commissioners being forced to walk barefoot from Strasbourg to Brussels after having their assets stripped, or maybe even impaled with cloth-yard arrows? Which, knowing the sexual predilections of some, might not be quite the kind of impaling that they were hoping for.

Where does the money go?

Having just got back from the UK, I’m wondering about all the taxes on, well, just about everything. These extra taxes acting as a drag on the rest of the economy. So I asked myself, where is all this money actually going? Cui Bono? Who benefits? Does taxation, as so many of its advocates claim, actually increase, or decrease ‘fairness’? These are all fair questions which need fair answers.

At present UK public spending outdoes the tax take by an estimated £84 billion per year. Most of that disparity is interest payments an the estimated £2.2 trillion public debt if you factor in the public ownership, liabilities and support of RBS, Lloyds TSB etc. Total 2012-13 tax take by HMRC, about £468 billion. According to their own figures. So where’s the £648 billion figure come from? Confused? Join the club. £180 billion isn’t just chump change. Besides, government doesn’t make money, it has none of its own and only spends taxpayer dollar.

The approximate 2013 UK public spending breakdown is as follows. Public Pensions for well, people the workforce has decided it no longer needs. Let’s ignore all those overpaid leeches on salaries well above their real pay grade for the moment; £139 billion. National Health Care, you know, for that wonderful ‘free’ service which includes such joys as the ‘Liverpool Care Pathway‘ and compensation payments to Ambulance chasing Lawyers; over £124 billion. State Education, the edifice which no amount of political meddling seems to improve; over £87 billion. Defence, for all those wars the UK really can’t afford to fight, including the one the EU wants to declare on Russia; about £42 billion. Social Security, which includes all those ‘tax credits’ which would be cheaper to run if the tax wasn’t taken in the first place; over £117 billion. State Protection, whatever that means; over £31 billion. Transport about £17 billion. Which is a lot to cover cones, contraflows and potholes. General Government, an opaque description if ever I saw one; over £14 billion. Other Public Services, hmm, large Rattus Norvegicus smelt here; over £54 billion. Public Sector Interest, on the money the Government borrowed to buy the votes of the ill informed and lazy; over £47 billion. Additional Balance, or should that read ‘petty cash'; over £2 billion. Total Spending about £675 billion, maybe a little more, maybe a little less. The UK’s EU contribution hidden somewhere in those figures is about £8.7 billion. Source here. Somewhere in that lot is the electronic money ‘printed’ by ‘Quantative easing’ of well over £60 billion and paid direct to banks. No wonder we hear about planned raids on savings and other legalised theft like ‘Green taxes’. It’s a financial plughole of doom. Which will be the last metaphorical straw on the proverbial taxpayers back? Bank accounts raided at will?

According to this neat little infrographic from the Guardian, the difference is £84 billion, which needs to be ‘borrowed’. No idea from whom, but £47 billion in interest payments alone? My one remaining reader will note the disparity between the two sets of figures referenced. Hey, but what’s the odd billion or three between friends, eh?

The discerning reader, having done a little digging, will also note the step increase in UK taxation that happened back in 2000 and the flattening in public spending since 2011. So yes, Slaphead and friends are trying, but the purchase of the banks and resultant QE have doomed the UK taxpayer to ever increasing interest payments. Unless those debts and liabilities are sold off, those interest payments will continue to head for the stars faster than a Saturn 5 booster with a nuke up its arse.

Last time it took the UK eighteen years to bring the taxation rate and public spending into financial balance. 1998 / 9 I believe. Then Blair and his pile of grinning idiots were voted in, public debt skyrocketed and the tax take hasn’t caught up since. Figures don’t lie. No wonder the politicians are trying to skim off more and more all the time. We were told all this extra spending was all about ‘fairness’. What it has done is lumber current and future generations with an escalating debt bigger than World War 2. Which I don’t think has been fair at all.

Really scary stuff

We’re looking at our UK based savings following the revelations about Eurozone banks being due to take a Cyprus style ‘Savings Haircut’ on depositor accounts which don’t seem to be idle gossip. HSBC have clamped down on big bank transfers for fear of a ‘run’ on their accounts. Royal Bank of Scotland is 8 billion in the hole. That’s sterling, not dollars by the way. Several Russian banks are in the Ca-ca and preventing depositor withdrawals. Fortunately we use none of these, but there’s a suspicion that despite bail outs, most of the banking sector is in deep, deep trouble. Guess who’s going to end up paying? You’ll need a mirror to find out.. Take your time.

The current UK ‘recovery’ is running on the back of yet another housing led bubble-boom. Which brings me to ask; does nobody learn from History, even recent History, any more? There was the housing boom and bust of the early 1990’s, 2007, and now this time. It truly fits the definition of insanity, making the same old mistakes in the same old ways and expecting different results. Pass the straitjacket matron.

All this bank piracy makes me want to buy a boat and stock up on dry goods before taking an extended trip around the world. Although we’d avoid the Philippines, Suez and East and West Africa all the way south to the Seychelles. Apparently the Pirates down there are using ‘Mother Ships’ to run small groups of raiding craft. None of ‘em look like Johnny Depp either.But they look nothing like real pirates Or the recent revelations that the Mexican Government is seizing tourist vessels over seventy buck permits.

From piracy on your hard earned savings to piracy on the high seas and even in tourist marinas, it doesn’t leave you with many options, does it?

What are these people on?

Browsing the Torygraph this morning (Because I like a smug giggle), I came across this article in the Financial section about the electrical retailer, Comet, going tits up. Nothing to gloat about. I feel sorry for the people both in the stores and head office losing gainful employment. Did a couple of small contract jobs for that group back on the late 90’s. No complaints. What troubles me is the way these stories are presented nowadays. You’d think the taxman actually invested in these companies, rather that the company paying VAT, Business rates on all their premises, Employers and Employee taxes and NHI, and all the other little cheese parings the taxman gleans off every single thing in sight. Yet there are a bunch of dead heads whining that companies don’t pay “Their fair share”.

Bearing that in mind, I’d like to ask what exactly is a companies “Fair share”? The tax rates and rules are set by the Treasury, and any company is bound by law to cough up according to those rules. Unless of course the taxman is a creditor when said company goes bust and there’s no more money. Even then, the taxman has to take its turn. That is the law. Yet the raucous self-entitled are found clogging up the ‘Comments’ section, displaying their complete lack of financial acumen. They can’t tell debt from revenue or turnover, and seem to think that just because there’s a number, you have to pay tax on it.

Talk about dumb……

iDemocracy

Have just been forwarded an email from Guido Fawkes about Douglas Carswell’s latest idea to fix Britain, and perhaps the world’s woes. Regrettably, brilliant man that Douglas is, he will be mostly ignored. His plan to fix Britain was a tour de force, but destined for the scrap heap of good ideas, not because it isn’t good, because it is; but because those in power are there, and they’re staying there, so the buggins turn of two and a bit party politics will continue.

iDemocracy is on Amazon. Worth buying and reading? Almost certainly. The ideas Douglas often espouses are generally well thought through and practical. Regrettably, the status quo of civil service and establishment will not permit such radical paradigm shifts. As for the populace? As has been mooted over at Anna Raccoons, the UK is a sick country, a welfare junkie due to go cold turkey because there has been no real money to feed their addictions for years.

Well, that’s all from me. Just thought I’d drop by and look in at the old place. TTFN