Sunday, March 29, 2009
Soros: G20 summit in London next week is the last chance to avert disaster
Soros refuses to say whether sterling has yet hit its lowest point. Has he shorted the pound recently? "I had shorted it last year, but I'm not shorting the pound now." Is the euro under threat? "There is stress in the euro because of the differential in the interest rate that the different countries have to pay," he replies. "Gordon Brown underestimated the severity of the problem, but then so did most people. Part of the perceived role of a leader is to cheerlead, so you can't really blame him for that." He says "the G20 summit in London next week is the last chance to avert disaster. "The odds would favour that it fails because there are such differences of opinion. It's difficult enough to get it right in your own country let alone with 20 governments coming together, but if it's a failure I think then the global financial and trading system falls apart."
IMO: The UK banks and investment houses have been very crooked for at least 10 years. Since Thatcher's "Big Bang", you could not find an honest stock broker in London. I definitely blame Thatcher and the Tories. After the investors allowed many Building Societies to fall into the wrong hands, the new 'owners' promptly took large commissions for handing out the investor's money to totally incorrect people. Also it was obvious from the start that many new instruments like loans based on self-assessed wages were nothing but liar's licenses.
So now all these countries are run by self-serving politicians. I understand that the UK home secretary even claimed against the taxpayer for an 88p bathplug - politicians certainly seem to wash, most of them are 'dirty', but that is ridiculous. It seems that her (and her family) watch movies like "Oceans 13" - which is total crap - and hard core porn - at the expense of UK taxpayers. It is a sad reflection that the Home Secretary has had to blame her husband. With the Home Secretary, "the buck should stop there". By the look of her, she drinks too much and is taking some sort of hormone tablets, so it may be no wonder that her poor husband needs to use porn. Lacan had something to say about that, and also her husband may well need use of the traditional Hoover Junior.
IMO: The country is in a sad state when we have to reflect on the above, and I do not see the rather feeble g20 public protests as doing much good either. But let's see.
# posted by uv : 8:10 PM
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