Tags: derivatives

The UK used to be a nation (the law now works against us)

Arrested and held in Britain on demand of EU prosecutors
Under the European Arrest Warrant, people can be held and extradited over a charge that is not even a crime in this country, as Andrew Gilligan explains.
[...] There are up to 10 cases every day. The defendants wear a dazed look: Bristol students bitterly regretting that final lager in Kos; Polish carpenters who can't quite believe what's happening.
You can see their point. The charges heard in the busy courtrooms, charges that will almost certainly see them transported in chains to a foreign jail, are often for such things as smoking cannabis, stealing a bicycle, or receiving a stolen mobile phone.
The defendants will have been seized from their homes by a special police unit. They will often have been held in British custody, and will continue to be held, sometimes for months, until their appeals against extradition are dismissed, as they almost always are. The Polish accused even have their own low-cost airline – they are dispatched, en masse, by special fortnightly military flights from Biggin Hill. "It's like Ryanair, with handcuffs," says one lawyer.
Most importantly, they will have no chance in Britain to challenge – or sometimes even to know – the evidence against them. In several disturbing cases, there appears to be no reliable evidence at all.
[...] In 2004, the scheme's first year, 24 people were extradited from Britain under EAWs. In the year to April 2010, we disclose today, there were 1,032.

Time to demand an end to UK membership and if refused change the government. The referendum on demand promised by Cameron would be a good place to start, although he gives every appearance of working in the interests of other than the UK's. His arm will have to be twisted to breaking point before he'll allow it.

WTF is going wrong?
http://www.telegraph.co.uk/news/worldnews/europe/eu/7958876/Brussels-figures-show-massive-growth-in-pensions-for-Eurocrats.html (3 billion)

Half of your energy bill is a backdoor green tax to make the EC/EU and the money lenders happy via wind farms and loans to countries the banks won't touch, etc.

Derivatives trading
At the root of the problem are the super banks and the dramatic increase in derivative market trading.
Derivatives are highly speculative, high-risk financial instruments which, combined with unchecked regulatory safeguards, have contributed the most to the destruction of the world's economy. At the end of 2009 there was $ 294 trillion in derivatives with U.S. banks according to OCC, the Office of the Comptroller of Currency. Few will admit in government institutions that the financial bailout is intended to protect those derivatives. Nor are they willing to  admit that the current debt can never be repaid. Bilderberg, ECB, EU, Federal Reserve and the rest of the global financial institutions and governments know this and feel extremely vulnerable. As one of them admitted at the conference: "If the European public finds out, we are screwed."

He was referring explicitly to the Federal Reserve's participation in the European bailout, by flooding Europe with dollars. It makes sense. Settled derivative contracts are in dollars and the ability to cancel, settle or restructure derivatives contracts is of utmost importance to the banking speculators, the Fed's actions are a give away of their game plan and the nature of the crisis.

In the United Kingdom, there are four megabanks which dominate lending in what amounts to a financial cartel. These banks make money by trading Not investment. These are the four: Bank of America, JP Morgan Chase, Citigroup and Wells Cargo. Combined Their assets amount to $ 7.7 trillion, 10 times more than their assets fifteen years ago. The big four banks now control over 40% of all the deposits in the U.S. banking system, half of the mortgage loans, and two thirds of the credit cards issued in the United States.

What we are witnessing in fact-is an early twentieth century-like consolidation of the U.S. banking system [see here]. Given the meltdown of the system, of the remaining 8,000 banks perhaps half will survive the carnage, the banking system further consolidated into the hands of the largest banking houses.

King of England Is Money Master in Northern Rock's Wake
If control is to be handed to the banks, we need to have an elected chairman and public auditing.

Around half the UK workforce works for the government or quangos paid for by tax. Call me Dave? Call me the "EC/bankers' caretaker" more like. Caretaker Cameron. 3 layers of government, local, national and EC/banks. That is 2 too many.