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.

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