Wednesday, September 30, 2009
'The Sun' switches sides
Labels: The Sun
Tuesday, September 29, 2009
BNP Paribas Rights Issue
The Wall Street Journal, link, reports this evening:
What a difference six weeks makes.
Back in August, BNP Paribas said it wouldn't repay the French government's €5.1 billion ($8.1 billion) stake in the bank until at least early 2010. Now it is launching a €4.3 billion rights issue to do just that -- in the process leapfrogging a clutch of other European banks, including Lloyds Banking Group, Royal Bank of Scotland, mulling similar efforts to repay government aid, and Unicredit, which announced a rights issue later Tuesday.
Watch for developments in the Lloyds HBOS and RBS Asset Protection Scheme saga as the next stage of the credit crunch looks set to hit removing the world from the relative calm of the phony recession.Read John Redwood on Quantitative Easing from here.
Returning value to money is the only cure, everything attempted over the past 25 months has been working in exactly the wrong direction.
Friday, September 25, 2009
Free flights for EU wage slaves to further dirty Democracy
A Day in Ireland to Work for Europe – Free Flights
Interested in travelling to Dublin to work for the Lisbon Treaty? Ryanair have offered us some free seats for people who volunteer to canvass for the Lisbon Treaty in Ireland.
Briefly, you should meet the following conditions:
-Flights (to and from Ireland) will be booked only for Tuesday and Wednesday 29-30th September and 1st October.
-Europe for Ireland will arrange the flights – you may not book directly.
-You must agree in writing to canvass for a Yes vote while in Dublin. We will put you in touch with one of the relevant organisations in Dublin. (If you do not turn up to canvass, your return flight may be jeopardised.)
-If you stay overnight you must arrange your own accommodation at your own expense. If absolutely necessary, we may be able to find someone willing to put you up but this cannot be guaranteed.
-The usual taxes and charges (about 50 euro) are not included in the Ryanair offer. If this is a problem for you, Europe for Ireland may be able to cover these costs, as well as the cost of travelling to and from Charleroi by bus.
-You must be 18 or over.
If interested, contact us quickly with your name, address, and telephone number, together with your preferred dates of travel. Email us at email@example.com or call us on +32 (0) 476084167.
We look forward to hearing from you.
Labels: Second Irish Referendum
English Democrats' Leader, Robin Tilbrook on Radio 4 Today Programme
Labels: English Democrats
Thursday, September 24, 2009
MSM mum on Lisbon Poll plus for the No Vote
Lisbon Treaty On The Rocks
A new opinion poll shows that there has been a massive surge in support for the No side, which, if it holds till voting day would result in the Lisbon Treaty being heavily defeated by a margin of 59% NO vs. 41% YES.
In one of the largest polls of its kind ever carried out: Gael Poll polled 1,500 respondents in Dublin, Cork, Limerick, Waterford, Kilkenny, Galway, Athlone, Tralee, Dundalk and Letterkenny over the course of six days last week.
The respondents were asked one single question: How do you intend to vote in the Lisbon Treaty Referendum?
A substantial 723 (59 %) said they intended voting No as opposed to 502 (41%) who indicated that they would vote Yes. The survey also showed that 15% percent of voters were still undecided.
When pollsters discounted the don’t knows: an overwhelming 59% of people would vote No in the referendum as opposed to 41% who indicated that they would vote Yes. The last Gael Poll which was published in the Irish Sun (June 4th 2008) accurately predicted that the Lisbon Treaty would be defeated by a margin of 54 % for the No side versus 46% for Yes campaigners. On the day of the count -which took place nine days later- the actual result was 53.4% No and 46.6 % Yes. The uncanny poll prediction which was out by only a half a percent was the most accurate poll in the country.
Pollsters at Gael Poll which is a non-profit social affairs research organization are quietly confident that they will be accurate for a second year in a row:
“Our Poll was carried out over an extended six day period and we used the exact same methodology as we used last year. In our experience the vote is not half as fluid as one might believe. People tend to have very definite ideas about which way they intend to vote, and those who don’t know tend not to vote at all,” explains Pollster Paul Murphy.
One interesting insight that the pollsters gleaned were the variety of ‘off the radar’ reasons why people intend to vote No:
“Frankly a lot of the personalities who are fronting the Yes campaign don’t appear to be very popular and a lot of people have commented upon this.”
“Apart from the obvious well known issues, we found that people were very concerned about the curtailment of alternative medicines and the banning of turf cutting to the over preponderance of EU flags and emblems. If you were to boil it down to core emotions, No voters tend to be enraged and up for a fight whereas Yes voters tend to be motivated by economic fears,” explained Paul Murphy.
The results will came as a shock to the Government and business groups who have poured over €10 Million eur+ campaigning for a yes vote in the Lisbon Treaty. In comparison No campaigners are poorly funded with a total combined spend of just under €1 Million eur.
Strategic Mortgage Defaults - Walkaways (continued).
I find your comments to be very interesting. Your perspective from your ’side of the pond’ is on one hand understandable to anybody following economics but on the other hand very difficult to fathom for those of us on ‘this side of the pond.’
What is hard to fathom? The effective ‘taking’ of private property. I think that may create civil unrest of unprecedented proportions. Not that we may not have civil unrest for other reasons.
Suffice it to say, both the UK and US economies have real issues all of which center on excessive debt. No surprise that the sterling and greenback are each having issues.
Are we living through a multi-generational shift in the primacy of what once were two world leaders. I believe we are. To what extent? Time will tell.
Living beyond one’s means is a recipe for underperformance.
In summary, from an American perspective, I have a hard time grasping the government unilaterally assuming a degree of ownership in what was private property.
I thank you for sharing your thoughts and perspectives. I welcome continuing the dialogue on this topic as well as others.
The earlier exchanges and original article may be read from this link.
Wednesday, September 23, 2009
My repeated cure for Strategic Mortgage Defaults or Walkaways
Labels: UK House price crash
Tuesday, September 22, 2009
Mortgage walkaways - the next crisis!
The number of strategic defaults is far beyond most industry estimates — 588,000 nationwide during 2008, more than double the total in 2007. They represented 18% of all serious delinquencies that extended for more than 60 days in last year’s fourth quarter.
Strategic mortgage defaults are nothing more than a very calculated financial maneuver primarily by people with high credit scores. These people are literally walking away from their homes, and the mortgages on those homes, with little to no warning or indication of stress typically identified by increased delinquencies on the mortgage payment or other credit payments.Why are people doing this? To fully understand the reasoning behind people strategically defaulting, we need to understand why people bought these homes and took out these mortgages in the first place. The likely result, as predicted in the same article is another crisis, quote: Have loan officers, bank examiners, and regulators factored these strategic defaults into their financial models and loan loss reserves? Rest assured, the thought of strategic mortgage defaults was not incorporated into a bank risk model prior to writing the loan. Now loan officers, bank examiners, and regulators are likely working overtime to incorporate the actuality of this phenomena creating a vicious cycle downward for housing just as the actual lending practices and accompanying purchases of homes drove the housing market higher over the last decade. Did Secretary Geithner incorporate this phenomena into the Bank Stress Tests? Not if we checked the default assumptions on HELOC (Home equity lines of credit) relative to the actual statistics. Have UK politicians considered the likely impact of similar actions in the UK. I earlier predicted such defaults would kick in when price falls began to exceed 20 per cent, a point now reached and with the next downward plunge about to commence as the currency tumbles and Schedule D property taxes look certain to return as one of the few sources for government revenue, a rout to sell at any price appears a possibility. Those walking away from unaffordable mortgages and their homes will start to be such a force they themselves will become a factor not to be ignored. As the non-resignation of Baroness Scotland, supported by the Prime Minister, this evening clearly illustrates, the ministers and leader of this UK administration have not one single moral principle in their make-up. Their financial ignorance in the face of the obvious fact that money has been their sole obsession for many, many years, makes their incompetence and lack of any foresight in the area of economics even more incredible.
Open letter to David Cameron from Anne Palmer JP
The Rt Hon David Cameron MP
Leader of the Conservative Party
House of Commons,
Dear Mr Cameron,
Although I am not in the Conservative Party, I have always voted for the Conservatives in a General election. However, as the EU instigates so very many of our Laws now and a great deal more should ‘Lisbon’ come into FORCE, we all, even our own MP’s will have to obey, I question why anyone would want to vote for any British political Party that, although elected by the people of this country, to speak for the people, do not do as the people wish. It is well known that the people were promised and should have had a referendum on the very constitutional EU Treaty.
Having just written that, and knowing the contents of that Treaty, I believe anyone that voted for it, may be violating their solemn Oath of Allegiance to the British Crown and the present wearer of it. If I just take the smallest Article (Article 47) in the Treaty of Lisbon, it gives the European Union as a whole, for the very first time, “legal personality” which allows the EU to “speak with one voice” for the whole of the EU on many subjects and at meetings and to ratify Treaties on behalf of all 27 Countries without debates in National Parliaments. War making Power? There is no mention that this is NOT so.
As far as the UK is concerned our Government uses the Royal Prerogative on behalf of the British Crown for many things and particularly, for ratifying Treaties. The power of the Crown is used through the Royal Prerogative. It is held in trust by Government Ministers and to pass on to the next maybe different Government to use. Through Article 47, it means that our Government has given the Royal Prerogative to foreigners to use through the ratification of the Treaty of Lisbon. The power of the British Crown is the ultimate authority (sovereignty) of Parliament and its Treaty making instrument, the Royal Prerogative. It is not in the authority of Government to give away this Royal Prerogative to anyone and certainly not to foreigners, it is not in their ‘gift’ to give, for it belongs to The British Crown.
The Treaty, I believe, is contrary to our own Common law Constitution and Her Majesty’s Coronation Oath, "That no foreign Prince, person, prelate, state, or potentate hath, or ought to have any jurisdiction, power superiority, pre-eminence, or authority, ecclesiastical or spiritual, within this realm, So help me God." ALL our politicians swear a solemn Oath of Allegiance to the Crown and through the Crown to this Country and its people before they can take their seat in Parliament. How then can they ratify Treaties that allows foreigners to ratify Treaties on our behalf, and for all the years to come?
I doubt any of us believe the people will continue voting or paying for a "pretendy" Government for long, especially as time goes by. This is not what we vote for them to do. All three major political parties are presently talking of cuts in spending. Stop paying the billions in “contributions” to the EU and paying the unlimited amounts in “fines” when this once sovereign Government does not always get EU laws right, and then everything will fall into place. Working with others and not ruled by them.
Has Government in ratifying this Treaty revoked the power of the Crown as exercised by Government denying the exclusive authority of the British Government to use the Royal Prerogative in those areas they have agreed to allow the EU to use the powers of the Royal Prerogative in their stead? In the doing, the EU “Binds the Crown and Government”. Not only is our Government made subservient to the EU, the Crown is also by this action. I write
of “The Crown”, for I recognise that the power of the Crown is the ultimate authority (sovereignty) of Parliament and that power, (sovereignty) is used by Government through the Royal Prerogative. It is that sovereign power this Government have given away to the European Union for Article 47. As the EU Treaties are designed for all time and the EU is planning for the next 50 years, it would seem to be a gift of which there is no return, given by a temporary Government, binding every new future Government and future Heirs to the throne. I submit this was not in the gift of ministers and that they could, at a future date, be held guilty of sedition against the State.
I am mindful that it was also the Conservatives that made Her Majesty a Citizen of Europe through the ratification of the Treaty of Maastricht. It is well known that two subjects of Her Majesty tried to bring charges of treason against the Government but it was deemed, as I understand it, by the then Attorney General as ‘not in the public’s interest’ to allow the case. (yet one rule of justice is that no man be judge in his own case, “non judex in causa sua”. However times change, and we also know that “Lisbon” changes (deepens) that EU citizenship, for the Treaty of Lisbon has ‘competence’ over all Nation States’ Constitutions and Laws. However, in spite of the Treaties ratified by this Government, or perhaps because of, if Lisbon goes through without the people having had their say in a referendum, the people’s allegiance to their own Country will become stronger and parts of their own Constitution, Magna Carta and the Declaration and Bill of Rights 1688/9 will eventually be put to the test once more. It does not bode well for future peace.
Not many people have any trust left in Members of our Parliament and even less in the present Government. “Britain will not be bound by Treaties to which the British have not given assent”. That was written by William Reese-Mogg September 13 2009. Should you wish for my vote, I would need a total vow of commitment to hold a referendum whether the Treaty has been ratified or not and the Treaty withdrawn immediately whether all 27 States have ratified it or not. Never in the history of the Vienna Convention on the Law of Treaties has anything like this happened before, although a Treaty has been withdrawn once, before all parties ratified. It is however, very questionable if the Treaty of Lisbon complies with the Vienna Convention on the Law of Treaties own articles, for the Treaties should be clear and precise in order to be understood by all those to whom it applies. The Treaty of Lisbon is perhaps the most (deliberately) ‘muddled’ EU Treaty of all time and perhaps the last EU Treaty, for its acceptance will finally destroy the self-governing of each Nation State. I await your reply and actions with great interest.
Anne Palmer. JP. (Written copy in the post.)
Labels: EU Lisbon Treaty
Sunday, September 20, 2009
Pig Ignorance from a Telegraph Political Editor
The Government has refused to hold a referendum here. The Conservatives, however, have not ruled out offering a vote even if the treaty has become law by the time they come to power.
A “no” vote in Britain would then, according to experts, inevitably lead to Britain withdrawing from the treaty and effectively “de-ratifying” it across the Continent – throwing the EU into chaos and potentially forcing a large majority of member states to draw up a new treaty from which Britain would be excluded.Such reporting is dangerous rubbish! The British Government, following a conspiracy involving the timing of the take-over of power between Blair and Brown, the lying and manipulation of D. Milliband and M. Beckett and various parliamentary shenanigans unworthy in any democracy (but, shamefully, involving the three leaders of the main political parties) has already ratified the Lisbon Treaty, had it printed on animal skin, signed by the Queen and lodged in Rome). Once the other 26 signatories similarly legally ratify that treaty it becomes binding on all 27 members for all time, only allowing withdrawal from its totalitarian and democracy destroying provisions by the trigger of its own withdrawal procedures, effectively requiring national castration and other even more severe forms of sovereign self-mutilation. There is not, nor can there ever be the possibility of - “de-ratifying” it across the Continent. The author of this dreadful piece of journalism, suggesting de-ratification as a possibility, is the following: Patrick Hennessy, Political Editor Published: 9:00AM BST 20 Sep 2009 Read the entire article from this link, if, like me, you find such rubbish difficult to believe. The Telegraph, once again, plumbs the depths - it remains an honour to continue to be black-listed from their Comment threads!
Labels: EU Lisbon Treaty
Thursday, September 17, 2009
Bankrupt Britain - Blame Ourselves
Labels: Bankrupt Britain
Tuesday, September 08, 2009
German Parliament approves its Special Status under Lisbon Treaty
German lawmakers have approved legislative changes paving the way for ratification of the EU's Lisbon Treaty.
The lower house (Bundestag) backed the legislation with 494 votes in favour, 46 against and two abstentions.
The changes should give parliament a bigger say over EU matters that concern Germany. The country's Constitutional Court called for these changes in June.
Wake up Europe - special provisions applicable only to Germany?????
Thursday, September 03, 2009
EU Stockholm Programme
Labels: Stockholm Programme