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Thursday, 28 June 2012

75% increase in finance industry profits, that is suspicious


Banks have run off the cliff,
but have not yet looked down 
In his latest musing the Gold Jackass, Jim Willie, continues the theme that has dominated his economic analysis for years now but the end is finally upon us, the events which he and many others have been accurately predicting are all coming to pass and we cruise towards the end of Welfarism.
"Many are the events, signals, and telltale clues of a real live actual systemic failure in progress. Until the last several months, such banter was dismissed by the soldiers in the financial arena. But lately, they cannot dismiss the onslaught of evidence, a veritable plethora of ugly symptoms of conditions gone terribly wrong and solutions at best gone awry and at worst never intended in the first place. 
My theory has been steady from the TARP Fund scandal and the Too Big To Fail mantra of deceit. The plan all along since the breakdown began in September 2008 has been to preserve power, to maintain intact the insolvent banks an operational crew of zombies, to aid the financial sector bound in Wall Street, to pay benign neglect to Main Street and businesses (expect for symbols like General Motors), to expand the propaganda of a fictional recovery, and to maintain the endless wars. 
The wars serve two purposes, to enable significant fraud from overcharged services, and to hold open the gateways for sizeable money laundering flows into the Wall Street banks, those hollow structures that closely resemble a coke addict with dark teeth, wretched bones, wasted organs, lost attention, and a listless gait.
The Greek showcase is coming to a neighborhood near you in Western Europe and Great Britain, soon to feature debuts across North America. No, the United States is not immune from the horrors of ruin since its marquee billboards read Zero Percent. It only means the wrecking ball works from the inside out, serving as the central needle in the Black Hole.
An outline of the End Game can be written."
His full analysis can be found here or via the link under principal sources to the left. As usual to summarise his advice... BUY GOLD AS SOON AS YOU CAN.

Between the decision of Chile to join the list of nations not to trade in US dollars, the decision of China to recast gold into 1kg bars rather than the 100kg bars used for London delivery, the procrastination of Greece and the recent announcement of Slovenia that rather than cut spending they are going to seek a bailout a sign that European Nations are beginning to hold Germany to ransom, the end of the Western Financial System is accelerating towards it end.

I thought it might be interesting to review the propaganda currently being put out by the Jersey government so I (and I hate to admit this) stopped off at thisisjersey.com today (27th July).

The lead story is that the UK has basically started making noises that they are going to not be so favourable to Jersey, Sir Pip complaining that the newspaper had misreported him, something which every critic of the government of Jersey has been complaining about from the JEP as long as I can remember. Ian Gorst has not stood up firmly enough to defend the finance industry and Trevor Pitman calling for a fair system of tax in Jersey, I agree with him here, no tax whatsoever would be fair.

Under the business section though I found more interesting stories, firstly the now monthly 'property prices are on the way up' and 'finance industry profits soaring' yes, people of Jersey, we have never had it so good, or so the propaganda would have you believe.

Interestingly enough if profits in the finance industry are £1.1 billion, an increase of 75%, fantastic, then that suggests something dark and sinister. Things do not spike like that unless there is a reason. I can hazard a guess as to where all the bailout money is washing ashore, perhaps it is no wonder that everyone is starting to look towards us.