Posts Tagged ‘Geo Politics’

Consider this post in reference to the concept of derivatives.

I feel that if anyone wants to attempt any critique of the derivatives market in its entirety, one has to move past any continued emphasis on ‘casino capitalism’, as this is an oft repeated line which, whatever its merits or otherwise, has become an easy reply for those who favour such practices.

I believe one needs to concentrate on debunking the notion of risk management in order to effectively retort.

Many supporters of derivatives would rightly point to their use is not just to speculate with (as in Investment Banking), but as a valid means to manage risk, especially in Insurance, and it is this aspect which deserves further attention in my humble opinion

The above linked post brilliantly draws together the notion of colonising time as an integral commodity, matching any such physical asset, thereby shinning a much needed light on the important and neglected aspects of this discourse of, post colonialism and global racial financialisation.


For anyone not familiar with the work of Ann Pettifor – one of the few to correctly call the coming of the financial crisis a number of years prior to it arriving, and one of the main proponents of the Jubilee 2000 campaign which cancelled a portion of third world debt – please search for her various articles, lectures and opinions online.

Associated with Keynesian economics and the Labour party, her views may be dismissed by some, however upon closer inspection, I was interested in her view on the creation of money, and what this meant for resolving the debt and economic problems facing the developing world.

She is principally part of the PRIME think tank/research group, which has a number of papers on its site proving an alternative voice on economic issues

The above lecture at the LSE discusses her latest book, ‘The Production of Money: How to Break the Power of Bankers’, and gives an insight into her theories.

What I wish to highlight, are the following;

  • The issue of commodity money, and how scarce resources should not be used as a basis of any monetary system
  • The recognition that a fiat monetary system, can and should be used for the benefit of the population – outside the control of private banks, but in the knowledge that an entirely man-made system should be used to achieve a level of prosperity in all societies
  • There are certainly many socialist aspects to these beliefs, such as exerting capital controls and spending money into existence in terms of health, education and social expenditure thus increasing national debt, however interest ideally should not be necessary when such a system is implemented
  • There are some similarities with what Positive Money are advocating, but it seems there are specific differences, as this discussion points out…



By following the money trail it is possible to  discover how intertwined British Imperialism was with its emergence as an economic power and the prosperity created for the nation.

Please read the following eight short pieces by James Walvin, on the monuments and show pieces across Britain and the people behind them, all connected to various trades directly linked to Slavery.

I will continue to explore this topic in a number of posts in future under a similar title

Nothing is as plain and straight forward as it appears

I could conceivably accept that if all nations were free to trade with each other, equitably, then this would indeed be a great solution to enable prosperity and cooperation across diverse cultures and lands. But this notion assumes every participant actually has any real freedom at all, and that they have all necessary resources available to them.

Freedom has a price, and business of creating and distributing freedom is a lucrative one

I put it you readers, that the prevailing global trade infrastructure is a manipulated construct as a result of an imperialist design.

Putting imperialism into context is foremost before any discourse on the merits or otherwise of neo-capitalism can take place. It is in this vein that I would like to share this remarkably well written piece by Pankaj Mishra…

The author also writes for Bloomberg, consider some of these pieces too….


Poor countries don’t need charity. They need justice.

Is this another deception with our perception of ‘The World’?

One of the most comprehensive reports into the real financial transfers into and out of the developing world shows that the extraction of wealth from the third world, much of it former colonies, continues apace.

Rich countries aren’t developing poor countries; poor countries are developing rich ones

How Poor Countries Develop Rich Countries

I find the fact that some $4trillion since 1980 is attributed to debt interest repayments fascinating. The scale of this particular transfer is testament to the continued servitude of many nations states.

When many times more is sent back in exchange for every dollar received in aid, does this not sound like a familiar profit making enterprise at work?

Reading the original report, I find this sentence especially on point…

Much improved statistical compilation and reporting is required in order to have a more adequate picture of global financial flows; a task that urgently needs to be undertaken collaboratively by the International Monetary Fund, World Bank, United Nations, Organization of Economic Cooperation and Development, and the Bank for International Settlements.

Is this a list of the usual suspect organisations?


A long standing concern with using Gold as sound money is the market in which it operates. Please see previous posts exploring this however a current article from the Telegraph sheds more light on the workings of these mechanisms, further highlighting the extent of the manipulation possible and the lack of transparency – it is a wonder that we still call it a market, since it arguably doesn’t even meet some of the fundamental proponents, namely efficient information and price movements based on real participants trading the commodity.

It is telling how much speculators were able to move the market recently. Some commentators have often ridiculed the extent of their influence when markets work in the right way….whenever that is.

Note also the reference to how controlled the price is relative to the US Dollar – the world’s (great fiat) reserve currency – any thoughts the days of the Dollar were numbered should be tempered. This demonstrates the ability to control Gold through the ‘tool’ of paper currencies and interest rates, let us not think merely changing the base of money will solve our problems, we must reconstruct the entire market and all it stands for.

Emerging markets have borrowed $4.5 trillion in US dollars. The borrowers are vulnerable to a double squeeze from both higher US rates and a dollar spike.

What threatens to become a “margin call” for dollar debtors could ricochet through gold markets as a secondary effect. It may have begun already.

The Inherent Flaws of Europe

Human beings need a “focus of belonging”. If they don’t get it via their nation, they end up “viewing themselves as belonging to a religious sect… or a racial or linguistic group”. You “can’t have a civilised, peaceful democratic society on that basis”.

Bernard  Connolly, author of The Rotten Heart of Europe

With the potential impending exit of Greece from the european single currency, it is worth understanding how the whole Euro project was an economically unsound piece of political propaganda in the first instance.

The desire to spread the net to as many countries as possible, despite their questionable financial positions was all in the name of presenting a strong image of unity, which was never there in the first place. Take the story of Greece and the assistance of Goldman Sachs in helping it fudge its entry into this union; it is the people at large who are ultimately paying the severe price of this and many others continental sized mistakes.

The above article based on a book originally released in 1995, shows once more how these early warning signs, obvious to many, were largely plastered over and suppressed by those trying to steamroll public opinion in favour of their desires.

This sounds all too familiar to the concerns raised before the financial crises in 2008, I wonder how well those in authority are now listening to the heightened concerns of the current cheap money era policies?

Such is the cost to the citizen of being part of not only a nation state, but a continental super state.