The problem is Financial centralisation and Bailing out Zombie Banks and Corporations.
The Sub story to the centralisation stems from the Uni Polar bid for Full spectrum dominance of the PetroDollar Hegemony post-collapse of the Soviet Union.
The system has several layers of faults which have exacerbated the MAin street problems and problems have been fabricated in non-compliant economies.
The Prescription of the Cure absolutely involves restoring the coupling of the finance system to the real economy. SEEDS as a means of analysis and basis for future Monetary metrics based upon energy resources but also Raw materials and both Human Labour but also the Needs of Citizens and the polity rather than just one very small cohort, That is The Billionaire Class and its henchmen of the Military-Industrial Complex and the Surveillance State.
ECOE is incredibly important to prosperity potential, of course, the degree of Mispricing inherent in the broken financial and political systems exaggerate the extent of the problem as not all of the available solutions have been pursued as they conflict with the vested interests of the Corporate Monopoly State.
UK Lectures EU on the “Whole Point” of Brexit
“The hard-Brexit EU Gold War “
The intra-NATO über contentious feud over the EU gold vaulted at the BoE.
NATO is about to suffer the unforeseen mother of all Brexit outcomes, namely heated UK-EU goldfare.This would be the first ever head-on gloves-off confrontation amongst NATO members.
How did NATO get here ?
After WW2 the idea was to keep Europe´s gold bullion safe and far away from the Soviet Union and Josef Stalin, just in case. So decades ago current EU member states deposited lots / most of their gold in custody at the Bank of England (BoE) in London.
Now, with “hard Brexit ” negotiations, the UK will most probably weaponize EU gold repatriation and other gold-related issues.
The contentious issues involved in the “hard-Brexit EU Gold War” are :
(a) the Brits would not accept returning the EU gold unless Brexit terms are agreed in UK´s favor.
(b) or quite simply the BoE cannot return such EU gold supposedly kept in custody for the past decades because it has been sold off or loaned out or compromised in different ways.
The problem won´t go away and tone-deafness won´t solve it.
Many supposedly ´knowledgeable´ world leaders need to do some past due homework, fast. This situation could also have a knock-on effect on repatriation claims on the physical gold supposedly still vaulted by many other countries in the US.
Be that as it may, many EU members could / should now want to simultaneously repatriate their BoE vaulted gold partially or totally.
The problem is NO independent audit has ever been carried out anywhere in order to answer the following key questions:
(a) does the BoE still have everybody´s gold bullion… or has it been sold off already (partially or totally) as many experts insist is the case ? (see links below)
(b) is the BoE willing to return the EU gold it may still have to legitimate owners ? Who are the legitimate owners ? Would the ECJ decide gold ownership ? On what basis ?
(c) has the BoE lent out, swapped, re-hypothecated or encumbered such bullion now lien with other alleged legitimate claimees in a sort of “fractional bullion custody” as experts say ?
For this “hard-Brexit EU Gold War” the City, HMG and the BoE would probably act as one and the same, with extreme “golden” cohesion (and leverage) amongst all of these Old Etonian types.
On the other side, we´d have the different EU nation-states (without effective political union) each claiming partial or total re-patriation of its gold ´supposedly´ still vaulted at the BoE.
Of course, the ECB would simultaneosuly also claim it actually is “their” EU gold. And the IMF and the BIS would also meddle, of course. So it does promise to be messy, doesn´t it ?
But however it unfolds, the “continental gold” now vaulted across the English Channel will most probably be weaponized by the UK during hard-Brexit negotiations.
Imagine the conflict in no uncertain terms (and desperation) per audit parameters and ownership, gold bar serial numbers claimed by several (all supposedly legitimate) recipients, gold bar quality and purity, overdue custody costs, transportation and insurance costs, etc., etc.
Paraphrasing James Carville, “ It´s the gold, stupid ”
Skeptics please see
http://www.gata.org/node/19734 + http://www.gata.org/node/19735
GB Electricity National Grid Demand and Output per Production Type
last update 2020-02-18 14:10:00 GMT
9 thoughts on “Wassuppp!!!! Diagnosis,and the Energy Based solutions. #Energy, #Debt, #War, #Sanctions, #Elitism, #Money #Money #Money. #Trump #Hall #EROI #EmboddiedEnergy #CircularEconomy”
The Slogs at the end of the day column last night. I am cross-posting this to the Slog.
“Collectivist corporoctratic Phlogiston, they know for sure, is the missing link.
Christine Lagarde has this week gone from being the architect of IMF incompetence to being the Head of European Central Bank incontinence.
Here’s a selection of what she has had to say so far….example 1:
‘Declining trend growth on the back of slowing productivity growth and an ageing population, and the legacy of the financial crisis have driven interest rates down. This low-interest rate and low inflation environment has significantly reduced the scope for the ECB and other central banks worldwide to ease monetary policy in the face of an economic downturn. And structural challenges, such as new threats to environmental sustainability, rapid digitalisation, globalisation and evolving financial structures, have also affected price developments and, therefore, the environment that central banks monitor, forecast and need to factor into their policies.’
John Ward who writes the Slog and has been for 15 years one of the most influential UK Bloggers has commented here in the past, and I know that John is an admirer of Dr Morgans, empirical approach to Political Economy.
One of Johns observations of “Gloabist Process” is the Interests of Texas Big oil in the US geopolitical Mix. Perhaps the Apeothesis of this entanglement was Rex Tillerson’s brief sojourn into the Cabinet of Donald Trump. Others would probably argue that Dick Cheney and Donald Rumsfield were the High/Low watermark in the First Bush (The Second) administration.
The reason I bring Johns Column from last night to this discussion is that it focuses on the Mismanagement aspects of the current failed system. The precariat has been snatched from the Jaws of Victory? depending on your view as to how much is incompetence and how much are Plausibly deniable unintended( Intended) consequences masquerading as Incompetence or the plain Unknown Unknown Black Swans.