Wednesday, 19 November 2008
All paths lead to Rome
Remember last January. When the losses of French financial "rogue trader" Jerome Kerviel came to light, his employers, Societe Generale, responded by offloading vast quantities of stock to a half empty marketplace (America was on a Monday holiday), the stock exchanges throughout the globe fell sharply due to the supply/demand imbalance and America herself responded to these falls, seemingly in ignorance of the actual root "fraud-based" cause, by cutting interest rates by 0.75%, the largest reduction for 26 years. (see Give 'em enough rope)
Since then, as predicted, the entire global economic system has gone into freefall, total meltdown really, with entire banks, insurance companies, and even countries going bankrupt. Nevertheless, from this disarray we have seen the glimmers of a rebirth, a global restructuring plan led by British Prime Minister Gordon Brown, seemingly an expansion of his idea for Britain to spend it's way out of this dilemma; spending by means of tax cuts, cuts paid for by further inter-continental borrowing from somewhere/one. In the interim, our government provides funding for ailing banks who otherwise would be virtually worthless entities based on current market conditions, the funding provided by additional share issues, thus diluting the bank's "value" and transferring a substantial stake to the state.
Yet this latter funding is not available to all who go cap-in-hand to the UK government. For example, two of the major UK Banks shareholders are due to vote in the next couple of months over a proposed merger which would create the largest bank in the UK. Some leading economic business types and ex bankers have publicly told how this would-be partnership is probably not in the best interests of the general shareholders or employees however our government have simply advised that they will not provide funding at such generous rates to the individual establishments, Halifax Bank of Scotland (HBOS) and Lloyds TSB, rather they point to the far more shareholder expensive arrangement made recently between Barclays and the Saudi government as an example of what the options are otherwise.
In other words, shareholders vote for the merger or it is likely that they see their "investments" plunge even further than the 80-90% they already have during the last year. Some may consider it bullying, anyway the tactics worked today, as we read from the BBC, Lloyds TSB approves HBOS takeover :
Lloyds TSB shareholders have voted in favour of taking over HBOS as well as taking government bail-out money.
On Tuesday, the chancellor warned that shareholders could receive much less cash if the deal falls through.
This is not of course done and dusted because Halifax Bank of Scotland shareholders still have to vote on the merger, this being scheduled for 12th December, although it seems highly unlikely, given the options, that this will not happen.
In the interim though, Ingliston Headquarter based (see my recent ruby shoes day post) Royal Bank of Scotland's shareholders vote tomorrow, 20/11/2008, on whether to accept £20billion of government bailout monies - the venue the Church of Scotland's (what would Jesus think?) Assembly Hall in Edinburgh, the same venue that PM Gordon Brown revealed his global moral vision to church ministers on 17th May this year at their annual gathering.
Let's assume they vote yes to the government loan, which seems a likely assumption given the gun-at-the-head situation they are all in given the global crisis, then that just leaves us with the HBOS vote on the 12th December for all of the major Scottish banks to have borrowed vast amounts of money from the state, by selling a substantial stake in themselves at what, in reality, are knock-down prices. (However, as noted, the deal that Barclays made with the ultra shady Saudi royal family - fairly unreasonable terms - is cited as the benchmark but remember that Gordon Brown visited the Saudi's two days after this as detailed within in A real dead ringer for love )
Is there anything special about the 12th December ?
There is if you consider that this year is a leap year and an extra day has been slotted in. Thus what is the 12th would be the 13th without the addition and last December 13th, St Lucy's Day,(the longest night of the year prior to the Gregorian calendar reformation, Lucy itself perhaps from Lucifer - the light bringer) was the date of the occult ritual ridden signing of the Saint Jerome dedicated European Treaty of Lisbon as noted in my must- read post Going back to our roots.
EU Logo - Note 666's embedded, who's being farmed ?
So, on the solar anniversary, or birthday of the Treaty of Lisbon signing, we see another major Scottish rooted bank's shareholders meeting which is almost certain to agree with a merger costing thousands of jobs and furthermore, a substantial multi- billion pound loan from the State. The last of the main players to do so.
Within a year we have seen our entire global financial system crash. Scottish born Gordon Brown, the man who signed the Treaty of Lisbon on his own, later in the afternoon than the other thirteen pairs of "leaders", is leading the charge for the G20 group and as noted, has masterminded a blueprint which he expects the other nations to follow - to borrow funds now to stay economically afloat, these funds to be paid back later by means of additional taxes, once the economy improves. In the interim, the state control (via their massive shareholdings) the banks who in turn the citizens owe money to in terms of their mortgages and loans; the enormous amounts of individual debt when looked at logically, surely making the State's acquisitions a veritable bargain.
And so from this new Scottish rooted and founded, European backed and globally aimed blueprint for global economic stability , we will see the new world economic order roll out, rather like the establishment of this current Western economic system by the Scottish rooted freemasons, back in the 1600's.
Certainly, change-loving US President-to-be Barack Obama, seems to have taken Gordon's economic credit crisis busting strategy to heart, at least the first part, the borrowing now to fund the "spending", from his recorded interview with CBS News "60 minutes" (per the BBC's Robert Peston's blog):
"Barack Obama said last night that he would do whatever it takes" to "avoid a deepening recession" and that "we shouldn't worry about the deficit next year or even the year after."