Buddy, peut vous épargner un sou?

EU political machinations against the UK clearly continue apace. Christian Noyer the French equivalent of the governor of the bank of England has evidently been wound up by his political masters, such as his organ grinder the French prime minister Francois Fillon, cherleading, or Mario Draghi Italian governor of the ECB, or Sarko himself, all part of the elite European rulership - and then pointed at the UK.

There is little need to link to it, as even the tabloids have noticed and have commented.

A country’s credit rating is based on its, well - credit worthiness. The worse it is the higher the interest rates it has to pay to borrow, a bit like people really. One of the reasons Greece and Italy are in such difficulties just now.

Put bluntly it’s ability to pay its debts. How safe it is to lend them cash. The world can be in little doubt that whatever else the UK is, unlike Greece, Italy, or even France for various reasons as an examples, about as safe a haven as it is possible to find in the current world economic climate.

The only real threat to the UK’s ability to pay its bills is probably the EU and the Euro crisis.

No one would really take such comments seriously, except this particular individual happens to be the governor of the Banque de France. A bank that is effectively, in turn, the glove puppet of the European Central Bank (ECB). It's main reason for existence these days being simply to implement the interest rate policy of the European System of Central Banks (ESCB).

Clearly M. Noyer is not fit for purpose as the figurehead of even a hollow shell of a bank and in a rational country would be removed from office.

Clearly we would also be foolish to expect anything other than , not necessarily entirely justified reflexive overweening pride and slightly irrational Franco centric behaviour from France.

Economics 101 - and a half

This seems to be doing the rounds at the moment and someone emailed it to me. It made me chuckle and is reproduced below, for your enlightenment and edification. I notice there is no mention of haircuts. Hat Tip to Pam.

Understanding Economics:
The Eurozone Bailout

It is a slow day in a little Greek Village. The rain is beating down and the streets are deserted. Times are tough, everybody is in debt, and everybody lives on credit.

On this particular day a rich German tourist is driving through the village, stops at the local hotel and lays a €100 note on the desk, telling the hotel owner he wants to inspect the rooms upstairs in order to pick one to spend the night.

The owner gives him some keys and, as soon as the visitor has walked upstairs, the hotelier grabs the €100 note and runs next door to pay his debt to the butcher.

The butcher takes the €100 note and runs down the street to repay his debt to the pig farmer.

The pig farmer takes the €100 note and heads off to pay his bill at the Farmer’s Co-Op.

The guy at the Farmers' Co-op takes the €100 note and runs to pay his drinks bill at the Taverna.

The Taverna owner slips the money along to the local prostitute drinking at the bar, who has also been facing hard times and has had to offer him "services" on credit.

The hooker then rushes to the hotel and pays off her room bill to the hotel owner with the €100 note.

The hotel proprietor then places the €100 note back on the counter so the rich traveller will not suspect anything. At that moment the traveller comes down the stairs, picks up the €100 note, states that the rooms are not satisfactory, pockets the money, and leaves town.

No one produced anything. No one earned anything. However, the whole village is now out of debt and looking to the future with a lot more optimism.

And that, Ladies and Gentlemen, is how the bailout package works.

Face to face, with the man who sold the world

The British Prime Minister - Is he ours (the UK’s), or is he theirs (the EU’s)?

“It’s beginning to look a lot like Christmas” as the song says and to paraphrase, it’s beginning to look a lot like he is theirs.

Cameron happily says and promises almost anything to get into power – a referendum for instance.

But in practice - That is an entirely different thing. He will never willingly allow the British electorate a European issue related referendum. Not unless he can fix it to give the “right” result with a "Have you stopped beating your wife?, Yes or No” type question. He has already shown where he stands by suppressing a free vote on the subject. Unfortunately the so-called Loyal Opposition seem equally shy of the subject.

When you think about it is hardly surprising. The Conservatives basically picked him because he was a clone of Tony Bliar An acorn that fell a little too close to the tree it seems.

Interestingly the other “Boy from Brazil” his deputy Clegg looks suspiciously Blairish in the right light too. Clearly despite the misleading (all things to all people – how Bliar is that) title “Liberal” and “Democrat” it is questionable if he is either.

Clearly he feels he and the state have a far greater right to have a say as to what is done with private property than the rightful owners and the only way to ultimately enforce that way is - well force - So for all his spin that is pure authoritarian socialism. Cameron/Clegg birds of a feather.

So, the Euro, literally at least partly “jerry built” on foundations of the very best sand.

Now the North wind doth blow and it is in deep deep doo-doo. Rather than contemplate a soft landing the princes of Europe, the political elite, now seem hell bent on an all or nothing approach, metaphorically ready to shoot the first person to make a run for it.

To paraphrase Bowie, Oh no. Not us. We never lost control – Holding the threat of financial Armageddon over Europe to force, what would effectively be a political union, at least on the Euro-zone States. A Superstate in anybody honest’s book.

Ironically having attempted to dominate Europe and the world by hook individually it now looks as if France and Germany may be within a whisker of being shoehorned into dominating it collectively by crook, so to speak. Déjà vu, is a ironically a suitably continental expression for where we find ourselves.

The Greek and the Italian electorate have found out what this means, they essentially no longer have elected heads of state. They have Eurocrats, Commissars instead.

Rather like the EU in fact, although it has a “decorative parliament” it is effectively ruled by Commissioners who’s finances are so murky no hones accountant will sign off on an audit of them. It has a so-called president that no electorate voted for.

Its laws and justice system are essentially Statist, authoritarian, Napoleonic, more guilty until proven innocent. More “Do you have a permit to do that?” as opposed to “It’s not against the law”.. Continental oil to the English speaker’s water.

Surely a point, if ever there were one, for the UK to stop and think to it’s self. “Hang on a mo!” Is this really what I signed up for when I joined what I was promised was just a friendly trade association the Common Market”?

Back when we were so eager we dumped so many of our existing profitable trade partners and markets to do it too.

The Common Market looked quite sexy and cute back then didn’t it, wearing a beret, a sexy pencil skirt, smoking a cool Gauloises and quoting beat poetry, you had so much in common. That was then, this is now.

Now she wants different things, she looks sort of shifty, a little scary like her mother and suspiciously like she spent the savings and wants to claim your life insurance money. They are mushrooms in the stroganoff aren’t they? Oh and the door seems to be locked.

So a perfect time to have a referendum then, you might think. A vitally necessary time. Dave Cameron clearly does not. And one has to question his fitness to hold the office he does because of that. Is he really fit for purpose? Is he representing our interests at all. There is a word for someone like that.

So, a not unreasonable interpretation of the question:

“Do you want to be assimilated by the Borg or not?” :-)