Since
2007 and the crash of World Banking, trillions of $ have been handed
over to the the banks to prop them up and we have to remind ourselves, how the crisis came about.
It came about not by an act the Greeks Government, not by the cost of the Welfare State in Britain, not by the inefficiencies of inadequately educated working people but by the greed and the manipulation of the Investment Banking fraternity.
The richest market by far is the money market. The largest indebtedness is by the banks who, to this day hold trillions of dollars of bad debt, the result of the mad 'derivative trade' which distorted and mangled the true value of assets.
To blame the national provenance of taxation and the inability to balance the national book (the commonly held indictment of Greece, Italy, Spain,) is a travesty.
The encouragement offered through low rates of
interest (cheap money) was in the hands of the Banker and Central Banks
who set the lending rate.
Whilst investing instability within the Euro it is not now the main problem. The main problem now lies in the lasting damage to the banking system which has resulted from Quantitative Easing. Printing money and devaluing currencies across the board to buy the debt the banks hold.
The "Kings of Finance" have got away with it because the politicians refused to allow some of the banks to fail or even challenge the likes of Lloyd Blankfein in a court of law for irresponsible dealing and the wholesale practice of mis-selling on a massive scale.
Democracy is now mired in a "pseudo democracy" throughout the world. Elections are bought. Election promises are trashed as soon as the parties are in power. Electors are treated with disdain by the elite who control all the levers of power.
To blame a relatively tiny plutocracy in Greece who were doing simply what their relatives in other countries were, and still are doing, is to avoid a truth - the system we have is corrupt.
Tax avoidance is the only game in town for the likes of Philip Greene, Amazon, Walmart, and the rest. The oligarchs who cluster in London to launder their money in the casino that is The City of London are many multiple times more guilty than the Greeks and who we are led, by the nose, to believe are the "bad boys".
It is so sad how soon we suffer amnesia and fail to comprehend how broken our capitalistic financial system is.
To try to mend it by austerity alone. To punish the poor and contrive to cut the heart out of any social support system whilst letting the rich race away over the horizon with their booty.
Perhaps it is time to be really radical. Perhaps we should support the rise of the far left, as it challenges the established power structure of Global Economics, Perhaps we should start to dismember the cartels of the "born to rule" and the assumption that they can carry on as before.
Our own democratic system (the Mother of Parliaments) does not in any way represent the voter. The numbers of votes cast and the allocation of seats, in the "First Past the Post", winner takes all system, where a Prime Minister is invested with nearly absolute power, whilst winning less than a third of the vote and which in its self represents only a fraction of the total number of people in the country.
We need reform, we have to find a new way to obtain political representation which is much more inclusive and representative.
Perhaps having a 'built in affiliation of parties' based on the votes cast but allocated not as winners but representing a block of actual votes cast for a party. Many people vote for a minority party because they like their manifesto and it would refresh parliament for the people to see and hear their views as a representative block of opinion thrashed out with due-consideration for all the electorate.
Yes it would slow down the bills that pass for legislation but the bills would have a better chance of recognition by the voter if their views and opinion were contained as amendments.
Taking power away from the traditional power base would be an anathema to the Establishment but healthy for the rest of us !!
It came about not by an act the Greeks Government, not by the cost of the Welfare State in Britain, not by the inefficiencies of inadequately educated working people but by the greed and the manipulation of the Investment Banking fraternity.
The richest market by far is the money market. The largest indebtedness is by the banks who, to this day hold trillions of dollars of bad debt, the result of the mad 'derivative trade' which distorted and mangled the true value of assets.
To blame the national provenance of taxation and the inability to balance the national book (the commonly held indictment of Greece, Italy, Spain,) is a travesty.
Whilst investing instability within the Euro it is not now the main problem. The main problem now lies in the lasting damage to the banking system which has resulted from Quantitative Easing. Printing money and devaluing currencies across the board to buy the debt the banks hold.
The "Kings of Finance" have got away with it because the politicians refused to allow some of the banks to fail or even challenge the likes of Lloyd Blankfein in a court of law for irresponsible dealing and the wholesale practice of mis-selling on a massive scale.
Democracy is now mired in a "pseudo democracy" throughout the world. Elections are bought. Election promises are trashed as soon as the parties are in power. Electors are treated with disdain by the elite who control all the levers of power.
To blame a relatively tiny plutocracy in Greece who were doing simply what their relatives in other countries were, and still are doing, is to avoid a truth - the system we have is corrupt.
Tax avoidance is the only game in town for the likes of Philip Greene, Amazon, Walmart, and the rest. The oligarchs who cluster in London to launder their money in the casino that is The City of London are many multiple times more guilty than the Greeks and who we are led, by the nose, to believe are the "bad boys".
It is so sad how soon we suffer amnesia and fail to comprehend how broken our capitalistic financial system is.
To try to mend it by austerity alone. To punish the poor and contrive to cut the heart out of any social support system whilst letting the rich race away over the horizon with their booty.
Perhaps it is time to be really radical. Perhaps we should support the rise of the far left, as it challenges the established power structure of Global Economics, Perhaps we should start to dismember the cartels of the "born to rule" and the assumption that they can carry on as before.
Our own democratic system (the Mother of Parliaments) does not in any way represent the voter. The numbers of votes cast and the allocation of seats, in the "First Past the Post", winner takes all system, where a Prime Minister is invested with nearly absolute power, whilst winning less than a third of the vote and which in its self represents only a fraction of the total number of people in the country.
We need reform, we have to find a new way to obtain political representation which is much more inclusive and representative.
Perhaps having a 'built in affiliation of parties' based on the votes cast but allocated not as winners but representing a block of actual votes cast for a party. Many people vote for a minority party because they like their manifesto and it would refresh parliament for the people to see and hear their views as a representative block of opinion thrashed out with due-consideration for all the electorate.
Yes it would slow down the bills that pass for legislation but the bills would have a better chance of recognition by the voter if their views and opinion were contained as amendments.
Taking power away from the traditional power base would be an anathema to the Establishment but healthy for the rest of us !!
No comments:
Post a Comment