Never quite sure about the ‘Wake Up To Money’ crew on 5Live….are they real financial journalists or have a bunch of school kids clambered in through a studio window to bluff us with gems from Google and Wikipedia?
Apart from a determined effort to ignore any Labour connections to Libor a discussion about the new ‘Shard’ building in London caught my attention.
What really started me thinking was their comment that a flurry of property building always preceded a financial crash…ala 1930’s.
Which is strange really…because how often have we heard the BBC either agreeing not to disagree with Ed Balls or simply promoting the idea of a building ‘stimulus’ to get the economy growing?
Did that work for Ireland? Look at all those brand new empty housing estates….didn’t work for them did it?
Ireland of course borrowed to build which is the real killer…and one the BBC and Ed Balls seem pretty keen on.
The Irish ‘stimulus’ is the very thing that brought them to their knees.
What Balls’ scheme amounts to is a massive ‘make work’ enterprise, essentially unemployment benefit disguised as work…..how is the building funded? The distant prospect of Growth…..or so Brown promised…and that worked out well didn’t it?
Essentially that was ‘Casino’ government….gambling on all our futures…Brown broke the bank alright but it was us who lost our shirts whilst Brown jets around the world on a glorious reputation enthusiastically fluffed up and endorsed by the BBC.
Back to the drawing board.
Brown must be the most compelling reason yet to support Scottish nationalism. The next Gordon will be quarantined the wrong side of Hadrian’s Wall.
I was born north of Hadrian’s Wall and I’m English.
“Revealed: why Gordon Brown sold Britain’s gold at a knock-down price”
By Thomas Pascoe
http://blogs.telegraph.co.uk/finance/thomaspascoe/100018367/revealed-why-gordon-brown-sold-britains-gold-at-a-knock-down-price/
Pascoe argues that Brown dumped British gold on the market between 1999 and 2002 to prevent the collapse of a least one major American bank, and possibly many other financial institutions, which had gone seriously short on gold, and triggering an international banking collapse.
There’s even a Beeb connection:
“Goldman Sachs, which is not understood to have been significantly short on gold itself, is rumoured to have approached the Treasury to explain the situation through its then head of commodities Gavyn Davies, later chairman of the BBC and married to Sue Nye who ran Brown’s private office.”
Yes, but apparently the price of gold was depressed due to Mr. Brown’s actions beforehand. At first I thought this was a story of Mr. Brown saving the world again, though. Unless I misunderstood the article entirely, he screwed it up, and had little choice but to dump the gold as he could no longer make the kind of carry trade he hoped.
But I didn’t realize before that the head of the BBC had such a close insider track. The connections seem endless. Where’s Norman Smith’s spider web graphic when you really need it?
As I keep saying …
We need a ‘who’s related to who’ page where the relationships between Beeboids and Labour are detailed.
Thus, when someone pops up as an ‘expert’ we can say, hang on that’s such and such’s husband …
Is it really such a bad idea?
It’s a great idea – get on with it! 🙂
“For George Osborne and Ed Balls, the Libor scandal is a fight to the death.
“The question of who is to blame for the Libor interest-rate scandal will be front and centre at the next general election .”
by Fraser Nelson.
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9378571/For-George-Osborne-and-Ed-Balls-the-Libor-scandal-is-a-fight-to-the-death.html
An excellent article
QATAR’s ‘The Shard’ building opens. and any Western (inc INBBC) criticism of Qatar seems non-existent.
“The Tentacles Of Little Qatar, Much Too Big For Its Britches”
Not forgetting Qatar’s financing of Muslim Brotherhood propagandist Al Jazeera (happy political home of many ex-Beeboids).
http://www.newenglishreview.org/blog_direct_link.cfm/blog_id/42647
Another awesome twitter stream from Newsnight on this topic…
12h BBC Newsnight @BBCNewsnight
Tonight Kirsty will interview Labour leader Ed Miliband about the banking scandal. Unfortunately nobody is “available” from the Treasury.
Maybe it’s the ‘unique’ way the BBC ‘asks’?
9h paula j @peejay1968
ooh newsnight should be interesting tonight!! ;0)
Retweeted by BBC Newsnight
Of all the retweets, in all the world… one presumes hers were ‘views’ they ‘wanted’?
9h BBC Newsnight @BBCNewsnight
.@Ed_Miliband on the banking inquiry: “This narrow inquiry will be inadequate” #newsnight
Probably best not to challenge him too much on that, then.
BBC Newsnight @BBCNewsnight
.@Ed_Miliband tells #newsnight that he speaks to Gordon Brown regularly – but hasn’t asked him about Libor
QED. Guessing a wee probe on why not was seen as rude?
“George Soros: the godfather of the Left”
http://www.theblaze.com/stories/special-report-george-soros-godfather-of-the-left/?corder=desc
‘Spectator’ uses BALLS in plug for its magazine:-
-Balls: “He has impugned my integrity in ‘The Spectator'”;
‘The Spectator’: “Impugning integrity since 1828.”
See top right-hand side of following page:
http://www.spectator.co.uk/home