Embodied energy Materials passports Opportunity cost. Notes. For later.

Embodied energy Materials passports

Opportunity cost




The Modern Monetary Theory ( Stalinist/Fascists) are really pushing their poison and they mean to Cull the Human Race with their misanthropic elitist dogmas. All Hail Ehrlich and the Mann/Hansen/Schmidt disciples of Agenda21/30.
In our requirements for prosperity and more energy production, we need to take heed of the Late Prof. Sir David McKay “”Every Big Helps”


Liberty Loving Human beings are under attack, make no mistake it is an attack on several fronts and all patriotic, family-loving god fearing and right-minded people must understand we need a resolution to our own Byzantine Generals dilemma. Articles such as this only serve to muddy the waters, Large FInance Capital and Big Corporations and the State are all one and the same subsidiaries of the Oligarchy. And guess what The Oligarchy isn’t really into us unless it is stealing the sweat off our brows or exploiting our nearest and dearest to satisfy its own depravity.

Piers Corbyn and Mark WIndows discussing the Green New Deal, Extinction Rebellion and the NGO sockpuppet complex.

#WrongKindofGreen #WrongKindofMoney



Workspace 1_315


FEBRUARY 26, 2020

Do we need bankers, as in good loan officers, or bankers, as in creative financial engineers?

Sir, I refer to your “Europe’s banks are losing the global race for talent” February 25. In general terms, and most especially with “Banks, like the best football clubs, should nurture their young talent”, I agree completely. That said my concern with respect to all banks, not just European, is about what banks would benefit us the most.

For around 600 years banks allocated their credit to what bankers thought would produce the highest risk adjusted net profit margins, something which required them to consider interest rates and operation costs. In those days good loan officers were of utmost importance.

After the introduction of risk weighted bank capital requirements, banks now allocate their credit to what bankers think will produce them the highest risk adjusted net profit margins adjusted to capital requirements, something which now, besides interest rates and operation costs requires them to consider leverage possibilities. In this new kind of banking creative financial engineers have an important role to play.

I am convinced traditional banking not only satisfied much more efficiently the credit needs of our economies but was also much less dangerous in terms of financial stability than “modern” banking.

But Sir, you don’t have to take my non-PhD opinion on that. In his 2018 autobiography “Keeping at It” late Paul Volcker wrote: “Over time, the inherent problems with the risk weighted bank capital-based approach became apparent. The assets assigned the lowest risk, for which capital requirements were therefore low or nonexistent, were those that had the most political support: sovereign credits and home mortgages. Ironically, losses on those two types of assets would fuel the global crisis in 2008 and a subsequent European crisis in 2011.”

Yes, Europe and the world, of course needs a new generation of bankers, but before that, for our own good, let’s make sure they have the right type of banks to lead.





Here are 40 reasons for why I believe/know the bank regulators in the Basel Committee are inept idiots… or something worse.

Opening question: If bankers’ perceived credit risk correctly, would they need supervision? Clearly not! So why use risk weighted bank capital requirements based on that bankers perceive credit risks correctly? Is that not irresponsible/loony?

Do you think it is disrespectful of me to call the Basel Committee’s regulators “inept idiots”? If you had tried for more than a decade to get some answers in all politely thinkable ways, and you have only been met by silence… and if you were as convinced as me that their regulations are utterly disrespectful of the future world of my children and grandchildren… then you might call them something much worse.In 1999 in an Op-Ed I wrote: “The possible Big Bang that scares me the most is the one that could happen the day those genius bank regulators in Basel, playing Gods, manage to introduce a systemic error in the financial system, which will cause the collapse of the banks”. But little did I suspect the regulators in the Basel Committee would be so incredibly inept!

So here are some reasons… for now sort of 40… but still counting!

Undefined purpose: The regulators never defined the purpose of our banks before regulating these. That’s why they only cared about banks’ safety, as mattresses into which stuck away cash, and cared not one iota about the vital social purpose of banks of allocating credit efficiently to the real economy. “A ship in harbor is safe, but that is not what ships are for.” John A Shedd, 1850-1926.

The risk weighted bank capital requirements have doomed banks to fire their traditional loan officers in order to hire creative equity minimizing financial engineers able to construe safety where there might be risks.

Would there not be sufficient appetite for investing in safer better-capitalized banks? Of course there would! The problem is that having to serve more shareholder equity would eat into bonuses, and so bankers hate it.

“As long as the roots are not severed, all is well, and all will be well, in the garden” said Chauncey Gardiner.

But since with risk weighted capital requirements regulators severed the roots of the economy, all is clearly not well, in our garden




Finally I got a clue why members of the Basel Committee, with their risk weighted capital requirements for banks, show they find what is perceived as risky to be more dangerous to bank systems than what is perceived as safe. They suffer an anxiety disorderFalse Safety Behavior. Poor them and poor us!

PS. And here, from 2010, is a very humble home-made youtube effort of an explanation for dummies.

And Paul Volcker in his “Keeping At It” of 2018 wrote: “The inherent problems with the risk weighted bank capital-based approach is that the assets assigned the lowest risk, for which capital requirements were therefore low or nonexistent, were those that had the most political support: sovereign credits and home mortgages


In Sept. 2007, fourteen months before Ireland’s bank bailout, I resigned from my position as the Risk Manager of UniCredit Bank Ireland. I did that in order not to incriminate myself. I have spent the last 4 years seeking justice. On Feb. 23rd., 2010, I was fortunate to have Senator David Norris raise the matter in Seanad Eireann (the Irish Senate), and request a response from the Minister of Finance, Mr. Brian Lenihan. Senator Norris concluded by stating that:

“…there is ministerial responsibility in this matter. This is a grossly serious matter which has been reported to the Financial Regulator. A man has lost his job as a result. He honourably resigned. The degree of breach was 40 times the accepted margin. This is a disaster. If we are not prepared to face the issue and investigate it when it has been laid before the House, there is absolutely no hope for the financial system or its reputation worldwide…How can the Financial Regulator investigate himself? He was in breach of his responsibility.”



Wednesday, October 28, 2015

UN, World Bank, IMF, and NGO’s: Give the SDGs a fair chance. Kick out Basel Committee’s bank regulations

The Sustainable Development Goals seem all very laudable, but given that bank credit is one of the most important financial resources, in order for these to stand a fair chance of being met, one would have to kick out all current bank regulators… or at least their regulatory pillar, the credit risk weighted capital requirements for banks.
Hear me out!


Author: rogerglewis

https://about.me/rogerlewis Looking for a Job either in Sweden or UK. Freelance, startups, will turń my hand to anything.