5 posts tagged “money”
Let's play a game.
Replace one letter of the word Banker with another and reveal their true identity.
That's right. You got it. Replace the B with a W and you have the measure of the people we are talking about.
I know I know, I sound like a broken record but guess what?
I HATE BANKS!
Sincerely, with passion and total commitment I loathe the bastard things.
Not the guy on the counter or the people in the branch but the institutions and their boards of directors and gullible, greedy shareholders.
How can it be right that decade after decade we allow these thieving, greedy sanctimonious bastards to get away with robbing us?
I just want to know why Dick Fuld and all the rest of the worlds' top bankers aren't in jail right now.
It beggars belief when you look around you and see how decimated industry, services and above all peoples lives are. Entire cities are in financial ruins and all because some twat in a 50th floor office was a crook or played silly buggers with an algorhythm. Bernie Madoff was not the only shyster in town these past 15 years. We have all been Ponzi'd!
In the old days rhythm was something confined to the dance floor. Then the catholic church got into the swing and we used rhythm to prevent babies popping out all over the cardinals bath mat. (That's really would be a cardinal sin!) But it seems that with the advent of computers it is now something we all do every time we log in. The rhythm method is the cyber-spheres pornographic alternative to a vicar in a tutu . Well, like all sexual desires that are repressed, the algo rhythm method has now led to a form of VD that has infected every single person who engages in any kind of economic activity.
SMS texts, Phone calls, letters, emails and christ knows what other clever devices are used with gay abandon by the banks to entice us to deposit our money with them. Interest rate incentives, and free gifts are all the rage if you have a few quid but then it all turns nasty.
"Can you tell me when you will pay this charge?"
"How often do you check your account?"
"Am I talking to Mr .......?"
and on and on the conversations go. Winging their way from Bombay to the back street on Bendigo and Beirut.
"Would you like a credit card with 1200% interest and a $3 credit limit?
What is your pin number?"
WHO THE FUCK ARE YOU?
These people call up from somewhere in Nepal and have all your info at their fingertips and yet you have no idea who they are or what they can do to you! For all you know it could be the guy in the chip shop asking you all these questions and when he puts the phone down his next question might be "Do you want fries with that?" It might equally be how fast can we spend this money. Either way you have no way of knowing who or where they are. Great idea that. Inspires confidence. Let's all do it shall we? Lets all call up a random number and ask loads of impertinent questions. Come on! It's a career move.
These automated human tape recorders input data that bounce across the globe and wrecks credit ratings or makes decisions about peoples real lives based on another fucking algorhythm created by another maths genius with a Ferrari and an apartment in Zurich.
Lets take some examples. Say you are a woman in the middle of a messy divorce and the ex has failed to pay your alimony this week which has sent your credit card to the limit. Say your pay doesn't clear until Friday and today is Monday and although it has left your employers account it hasn't arrived in yours yet leaving you $50 in debt. Say you have enough money in your account but a charge made for cheques has been debited and you forgot. Say you plain forgot that the annual insurance bill is due this week. Where do you think it gets noticed first?
Or try another tack how about your Granny dies and leaves you a wedge. Or you get divorced and suddenly have a lump sum. Or you win the lottery or you get a bonus where do you think it gets noticed first?
You got it.
The sick thing is that all these things happen to all of us all the time and yet these parasitic monoliths have so much clout that they can literally make or break you by the press of a button, regardless of the true facts.
Power that is just as deadly and lasting as a nuclear weapon that never gets fired is now in the hands of someone who does not know you or your situation. As if that isn't enough the boss of the bank is only interested in his "bonus" and the guy who actually has the job of calling you up is most likely worse off than you are and is jealous of your perceived wealth. What a toxic combination that is.
That is the combination we trust our lives to.
Am I the only one that thinks we are all insane?
Am I the only one who thinks that perhaps we all have tertiary financial syphilis and that it has screwed up our brains?
The American Empire is crumbling. Europe will rise again.
Let me say that again. The American Empire is crumbling.
Before you think I have lost my mind let me re-assure you that I am not going to start into a long rant about the despots and the injustice of American hegemony. Why would I?
Mostly the American influence on the world has been benign. In fact I would say that it has been a positive boon for and we must never forget that fact, but the stark reality is that like all good things it must come to an end and we are watching the demise of the empire that never thinks.
The basic facts are these:
Empires are built on a combination of fear and greed
Each goes through a stage of expansion, consolidation, over reach and collapse
The ability to engage and manage an empire depends ultimately on the aquiescence of the subject peoples.
There will be mistakes made in every empire that are genocidal in nature but ultimately of little consequence to the stability and longevity of the regime.
Changes in leadership can distort and and destroy the outer fringes much more rapidly than they can the centre.
The end of Empire is not usually swift and calamitous for the centre but it can cause huge destruction and disruption for the periphery.
All right so now that is laid out let me explain why I say what I say.
I can tell you how if you like, but the reason why is so complex that historians will debate about if for ten thousand years. I can tell you with certainty that not one of us has a clue about what makes empires ebb and flow. At least not in our lifetimes. We are too close and it is too complex but we can see how they fold in and consume themselves.
It is simple really. America has lost the faith of its closest allies and must resort to bullying and coersion to achieve its ends.
The most common, and dangerous chatter is about how America is root of all evil. Almost everyone outside the states loves to watch as the Pentagon and White House wriggle and squirm as they try to extract some degree of good PR from each and every change on the international landscape. Even Britain, stalwart ally of the USA since the day she allowed them independence by protecting their shipping in the times of slavery, has a majority that loves to smirk as America confidence is picked apart by a paranoid administration.
I know there is a media fixation with conflict in Iraq and Afghanistan, Iran and N Korea but they are really small elements in the mix. The major sore that has never, and will never, be tackled is Israel. Until they acknowledge the fact that using Israel as a permanent battle cruiser in heart of Muslim Arabia is a flawed policy the American Empire can never achieve a period of equilibrium.
But let's be honest here, there has never been a nation that engaged in any altruistic endeavours, once again with the exception of the British Empire in the late 1800's.
Take aside the rights and wrongs of the Israeli issue, of which there are many, and consider this:
Any occupation - no matter if it is justified in ancient texts or otherwise - will cause resentment from the indigenous populous. Add to that the ancient tribal mindset and the very modern obsession with oil and you have a permanently smouldering powder keg that will never be extingushed. If you then add in an implacable religious opposition and the continued support of despotic regimes like the Al Sauds and you have managed to create a permanent enemy who need never have been.
That is simply bad management. A real empire would never do that. It is elementary and foolish in the extreme. But then America has been deluding itself for a long time and claims to have no Imperial ambitions. What horseshit. Of course they have! If they didn't why would the be worried? No empire means no enemies and no enemies means no worries. Don't believe me? Ask the Swiss.
The American Empire a Jungian dream (pun intended). A entire nation exhibit classic symptoms of denial.
American citizens would be horrified if they thought that they were Imperial storm troopers but then they are horrified if someone points out that their beloved TV evangelists as charlatans and crooks. You see the problem is that American citizens are from all parts of the world and none. They are refugees - the poor the tired, the huddles masses and as a result they feel no allegiance or necessity to engage with anyone outside of their own homes. They have fled from the rest of us and who can blame them when they ignore us?
In standard American process, the need for foreign interaction is purely to benefit the dim witted citizens of America and the political elites on the coast. You simply do not see the USA engaged in altrusim. Nor should you. They are powerful, greedy and in command. That is what empire is about and yet America pretends otherwise. That is the way it has always been and pretending to be "the worlds policeman" is simply idiotic.
In previous Empires, successful and long lasting ones that is, there has always been a degree of engagement with the occupied countries by the regular citizens of the ruling power. Adopt the ways of the locals, adapt, go native and learn to manipulate the means for your own ends. If you impose a foreign ideology as well as a foreign burocrasy you are inviting disaster. Edmocrasy is not the answer and why for fucks sake anyone thinks it is is beyond me. You simply can't bring an entire culture to change overnight. Not even the Romans manged that.
On the other hand without engagement at some levels you will be certain of failure as well. Consider Russia and Belgium.
Both had overseas possessions which they lost in rapid order because they were too busy grandstanding to make any impression on the locals. Belgium fucked it up when Leopold massacred half of Africa and Russia is still trying to escape from a criminal take over in the mid 1990's. Neither will be remembered fondly and neither will gain in the long term from their policies in the past and I am afraid that the USA is similarly handicapped.
Imposing "democrasy" on foreign lands in order to obtain oil is disingenuous and pointless. Calling your enemies "rogue states" is ascenine to the point of idiocy and pretending that you can have it all and take no responsibility is called being a child, not a president.
This is why I say the dollar is over as the international currency.
It happened to the pound and it will surely happen again in the next few years.
America can't pay its bills. It can't maintain its military expenditure and wanton lifestyle. It has run out of friends as surely as it is running out of oil and the power balance is shifting in seismic jolts towards the east.
By contrast the Eastern power - Japan - has no inclination to join the world in any meaningful way and as such is neutered. China is corrupt, unbalanced and has little interest in taking responsibility for world markets yet. India is simply too poor so that leaves on place to put your money. One stable and reliable, multi-national, fundamentally politically neutral currency with ample resources and expertise to surplant the Fed.
That leaves the Euro.
When oil hits $200 a barrel and the interest rates in the US are almost zero and most of all when there is no confidence in the dollar because another plane hits another tower somewhere you will see the Euro smash its way through the barricades and the era of American dominance will be over.
Have a nice day, y'all.
I know most of you would rather be talking about substantive and important stuff today but I thought I would try to be a sensible commentator on the world again.
Some of you may know that I take a detailed interest in interest and finance and that kind of stuff. If you don't, hang in there, this will be short and sweet.
I have put some headlines from this mornings sites and just pasted them in. No edits.
Draw your won conclusions. Is this a rout? Are we in for disaster or do the stock markets returning to their levels of 2006 mean we are once again in the realms of rational value? Are we all going to be forced to live in small test along the banks of overflowing rivers and eat our pets?
BARCLAYS STOCKBROKERS
We are currently experiencing an unusually high volume of online traffic and telephone calls, which means that you may experience delays in using our online service or in contacting us by phone. We appreciate your patience and apologise for any inconvenience this may cause. We're doing everything we can to restore normal service as soon as possible.
(What a useful service that is when you want to sell your stocks!)
ABC AUSTRALIA
Today's dramatic fall on the Australian share market is being blamed in part on forced selling.
Local stocks suffered their biggest one-day slump in 28 years, falling by 7.3 per cent.
BBC NEWS
Asian and European share indexes have continued to fall sharply on Tuesday amid fears of a recession in the US leading to a global economic slowdown.
London's FTSE 100 index has been having a bumpy day, initially falling more than 3%, then recovering to fluctuate between 1% up and 1% down.
Earlier, Asian markets had tumbled with Japan's Nikkei index closing down 5.7%, taking its decline this year to 18%.
Many analysts are predicting indexes could fall further in coming weeks.
CNN
Wall Street: Futures flashing red
Futures plunge as investors prepare to join global market rout; slew of earnings on tap.
At 3:56 a.m. ET, Nasdaq and S&P futures were sharply lower, suggesting a disastrous start for U.S. stocks.
THE REAL NEWS IS HERE!
PEREZ HILTON SAYS.....
Brad Pitt stars in a new ad campaign for Edwin Jeans for Japan. Swoon! Swooooooon!!!!!!! And this guy is a millionaire!!!! More fool us...
Salutations Hipsters.
Today I have little that is worthy of note to say so instead I thought I would tell you about a perfect moment in my rock n roll life.The event in question took place some years ago and whilst it will never make it into the annals of pop history it will always be a day I will treasure.
A friend of mine, Trevski, was working as a roadie for that Tragic 70's hippy band - Supertramp.
Now you may say that is as uncool as it gets but I hapen to love Supertram and have done since I was a kid. My first encounter with them was when I was given their album "Breakfast in America" one Christmas when I was 13 and living in the desert near El Paso, Texas.
Years later, one sunny day in Cornwall I was driving in an opentop car with a gaggle of Dutch loonies who were all singing along to "Paris" as loud as their spliff expanded lungs could manage.
Crime of the Century reminds me of too many deep, depressing moments in the military (so does New England Billy Bragg which was my platoon song but I digress).
Ever since then their songs have re-appeared on the soundtrack of my life and as a result I just love them.
So on that wonderful day I flew down from Luton and into the heart of wealthy Europe - NICE. (You say neece not nice - its verry French yew no.) and jumped into a cab. 20 minutes, 100 Euros and a heart attack later I arrived at the coolest 'otel in the world.
That evening - after a trawl through the miniscule pricipality of Monaco - I met up with Trevski and the crew in the bar. Now, as you know the protocol in these siutuations is no keep your mouth shut, buy a round and blend in with the gang.
So off to the decorous bar I went. Standing there was an old guys all wrapped in Lycra and looking a bit lost. We nodded a greeting and then I realised it was the famous sax player John Hellawell. He of the sax solo and megaphone. Bloody WEll Right it was!
The chat was lovely and it turned out he lived just up the road from where I grew up. What could I do? I bought the man a drink. I bought one for myself and I bought one for Trevski ad AJ the pseudo jewish guitar tech. So basking in the majesty of the oment I flashed the cash and paid the bill.
I stood at the bar for a few minutes more waiting for my change. Came there none. Instead the barman asked me for anotehr 50 Euro.
That round cost me E150!!!! It also broke me for the night.
Thank god for the tour bus stash. NO one was buying after that.
At the end of the weekend - which I am not going to describe because what goes on tour stays on tour - I checked out of the hotal and asked the concierge where the bus to Nice left from.
With a sneer that only a Frenchman can maintain he looked at me as if I were mad - "Sir, zer iz no bus."
Ok - I guess I will need to risk a taxi
"Taxi Sir? Why do you tek ze texi? Yew should tek ze helicopter." and with the ultimate withering pout "It is cheaper."
He was right. It was magical and it is the only way to see the Cote D'Azur.
Au Revior
It is incredible. Truly amazing. I am stunned.
Here I am sitting in the lobby of a rather swanky hotel in Deutchland with an imported - an it has to be said expenzive (sic) - copy of the Financial TImes in my hands when one of the unbiquitous inserts falls into my lap.
"
"Meet McEnroe, Becker, Cash etc" it says. Wimbledon 2007."Now, I have not the slightest interest in Tennis. As far as I am concerned it is just another waste of effort but because it is a rather boring aspect to life on the road; this sitting in lobbies and waiting for things; I have quick squizz. Lots of nice pictures and blurb and then the price. JESUS!
Mens Doubles Finals - �2395!!!! Thats around $5000 US each!!!! Holy cow.
It isn't even for one of the singles finals.
For that money you get Strawberries, lunch and - television to watch the matches on the day.
The rugby world cup is in there too, That one is � 2995 for 2 days including the final.
I do understand the corporate thing that is going on and that multi million dollar deals are done at these events but it has got me to thinking that we have really screwed up in the music business.
How can it be possible that that kind of money is being thrown about on sports when music is lucky to get away with a few quid for a CD?
It made me look at the pages of the FT a bit more closely today and I have found out some other interesting facts.
Did you know that the Lithuanian property market is 90% financed by Swiss Francs, or that there is a big fight going on for purchase of the Chicago exchange?
No, neither did I.
So what the hell has that got to do with us? Well, quite a lot in fact.
If Lithuania borrows in Francs and then the Swiss put the rates up their nice little earner becomes a bit of a disaster and that in turn leads to another episode like the one that is happening in the US sub-prime lending markets - look it up if you don't understand that. That leads to a collapse of confidence in the German, Lithuaniana banking sector and suddenly a big economy hits the skids.
Uh - YEAH BUT WHO CARES?
You should. Because if that happens and Germany goes pop (like a weasel not like Nena and her 99 luft ballons) the Euro loses value and makes European goods cheaper for everyone. Thus the American, Chinese and everyone else buys well engineered and stylish euro goods instead of brash and broken Chryslers.
The mighty economies lose sales and punish everyone with trade sanctions and bullshit like the Doha round of interminable trae talks. The rest of the world sees the Euro getting more valuable and gets shitty with the hawks on capital hill for once and Japan sells its holdings of the the dollar. The only thing thatis keeping Team USA afloat right now is Japanese and Arab money - remember that.
American confidence goes down and you find that the only things available now are not exactly the best - like Zenith Tv's instead of Sony's - and it gets more expensive to buy basics like your food. Money is getting tighter so you cut back on frivolities like music and sales decrease even more. Suddenly bands are getting dropped and the job you thought was safe is not and so it goes on and on.
It is the vicious circle.
Not a happy thought is it?
The Lithuanian property market has indirectly fucked up your record collection. Go figure...... as they say in parts west of here.
There is another option. We could actually revalue our own products and make them desireable and more expensive.
Take a leaf out of the classical book and make your shows so exotic and special that they become corporate events that people want to attend for "business purposes". What better way to attract publicity and value than by excluding the sweating proles from your gigs and making it all so exclusive that only the suits can attend?
Or how about only releasing very expensive and therefore rare albums that are so heavily protected by DRAM that they can only be played twice before self destruting (Actually thats a bloody good idea. You can't have that - its mine - copyright - patent pending). They could be the Faberge eggs of music. Like a really obscure wine that no one ever drinks but that some idiot will pay millions for.
But if we do that we lose everything we ever stood for and join the corporate band. So much for indie!
I guess it has already happened with people like Philip Green paying George Michael \xA35 million to play a party for him but that really sucks. I don't begrudge GM for taking the dosh - who wouldn't so long as he keeps on playing shows for us poor peasants.
My advice:
Keep on fighting because sooner or later Live Nation are going to make this play and we are all going to have to revalue our services and that will be a show worth watching.
Tot Ziens - for those of you who speak Dutch ( I have no idea what it is in Lithuanian so that will have to do for now)

