BREXIT = BR [itish] EXIT. So what?

A great interview with Tony Gosling right outside the Bildeberger 2016 meeting about the possible British Exit from the European Union. Will it, could it happen? Will the unelected EU officials and Bildebergers allow it to happen? What's at stake? Who are the real stakeholders, and how far back does this thing go? Nineteen fifties USA & CIA trying to simplify Europe to make trade easier and cheaper? Even back to WWII Germany who piloted this kind of fascist model and actually coined the team European Union with this same vision? This is really interesting stuff. If you want to understand the world in which we live, this is 'one of those' reports that will open your eyes.

https://youtu.be/2S7ZdJ3_Pjs

The "CITY OF LONDON" or the City of London?

When I see a good article in mainstream media that portrays a truth well, I like to quote it. Without further ado then, let us see what the following article has to say about the "CITY OF LONDON". Ignore the other content. Learn what you can about the "CITY OF LONDON", and you will start to understand who exerts massive control over the UK.

By the way, the "CITY OF LONDON" should always be spelled in capitol letters, because it is a legal entity, a corporation. Their web site has this right in a few important instances, namely logotypes...

and

Read on, learn, maybe even enjoy :)

Steve B
=====

The medieval, unaccountable Corporation of London is ripe for protest

Working beyond the authority of parliament, the Corporation of London undermines all attempts to curb the excesses of finance

• 
• • George Monbiot
  • guardian.co.uk, Monday 31 October 2011 21.00 GMT

Illustration by Daniel Pudles

It's the dark heart of Britain, the place where democracy goes to die, immensely powerful, equally unaccountable. But I doubt that one in 10 British people has any idea of what the Corporation of the City of London is and how it works. This could be about to change. Alongside the Church of England, the Corporation is seeking to evict the protesters camped outside St Paul's cathedral. The protesters, in turn, have demanded that it submit to national oversight and control.

What is this thing? Ostensibly it's the equivalent of a local council, responsible for a small area of London known as the Square Mile. But, as its website boasts, "among local authorities the City of London is unique". You bet it is. There are 25 electoral wards in the Square Mile. In four of them, the 9,000 people who live within its boundaries are permitted to vote. In the remaining 21, the votes are controlled by corporations, mostly banks and other financial companies. The bigger the business, the bigger the vote: a company with 10 workers gets two votes, the biggest employers, 79. It's not the workers who decide how the votes are cast, but the bosses, who "appoint" the voters. Plutocracy, pure and simple.

There are four layers of elected representatives in the Corporation: common councilmen, aldermen, sheriffs and the Lord Mayor. To qualify for any of these offices, you must be a freeman of the City of London. Tobecome a freeman you must be approved by the aldermen. You're most likely to qualify if you belong to one of the City livery companies: medieval guilds such as the worshipful company of costermongers, cutpurses and safecrackers. To become a sheriff, you must be elected from among the aldermen by the Livery. How do you join a livery company? Don't even ask.

To become Lord Mayor you must first have served as an alderman and sheriff, and you "must command the support of, and have the endorsement of, the Court of Aldermen and the Livery". You should also be stinking rich, as the Lord Mayor is expected to make a "contribution from his/her private resources towards the costs of the mayoral year." This is, in other words, an official old boys' network. Think of all that Tory huffing and puffing about democratic failings within the trade unions. Then think of their resounding silence about democracy within the City of London.

The current Lord Mayor, Michael Bear, came to prominence within the City as chief executive of the Spitalfields development group, which oversaw a controversial business venture in which the Corporation had a major stake, even though the project lies outside the boundaries of its authority. This illustrates another of the Corporation's unique features. It possesses a vast pool of cash, which it can spend as it wishes, without democratic oversight. As well as expanding its enormous property portfolio, it uses this money to lobby on behalf of the banks.

The Lord Mayor's role, the Corporation's website tells us, is to "open doors at the highest levels" for business, in the course of which he "expounds the values of liberalisation". Liberalisation is what bankers call deregulation: the process that caused the financial crash. The Corporation boasts that it "handle[s] issues in Parliament of specific interest to the City", such as banking reform and financial services regulation. It also conducts "extensive partnership work with think tanks … vigorously promoting the views and needs of financial services." But this isn't the half of it.

As Nicholas Shaxson explains in his fascinating book Treasure Islands, the Corporation exists outside many of the laws and democratic controls which govern the rest of the United Kingdom. The City of London is the only part of Britain over which parliament has no authority. In one respect at least the Corporation acts as the superior body: it imposes on the House of Commons a figure called the remembrancer: an official lobbyist who sits behind the Speaker's chair and ensures that, whatever our elected representatives might think, the City's rights and privileges are protected. The mayor of London's mandate stops at the boundaries of the Square Mile. There are, as if in a novel by China Miéville, two cities, one of which must unsee the other.

Several governments have tried to democratise the City of London but all, threatened by its financial might, have failed. As Clement Attlee lamented, "over and over again we have seen that there is in this country another power than that which has its seat at Westminster." The City has exploited this remarkable position to establish itself as a kind of offshore state, a secrecy jurisdiction which controls the network of tax havens housed in the UK's crown dependencies and overseas territories. This autonomous state within our borders is in a position to launder the ill-gotten cash of oligarchs, kleptocrats, gangsters and drug barons. As the French investigating magistrate Eva Joly remarked, it "has never transmitted even the smallest piece of usable evidence to a foreign magistrate". It deprives the United Kingdom and other nations of their rightful tax receipts.

It has also made the effective regulation of global finance almost impossible. Shaxson shows how the absence of proper regulation in London allowed American banks to evade the rules set by their own government. AIG's wild trading might have taken place in the US, but the unit responsible was regulated in the City. Lehman Brothers couldn't get legal approval for its off-balance sheet transactions in Wall Street, so it used a London law firm instead. No wonder priests are resigning over the plans to evict the campers. The Church of England is not just working with Mammon; it's colluding with Babylon.

If you've ever dithered over the question of whether the UK needs a written constitution, dither no longer. Imagine the clauses required to preserve the status of the Corporation. "The City of London will remain outside the authority of parliament. Domestic and foreign banks will be permitted to vote as if they were human beings, and their votes will outnumber those cast by real people. Its elected officials will be chosen from people deemed acceptable by a group of medieval guilds …".

The Corporation's privileges could not withstand such public scrutiny. This, perhaps, is one of the reasons why a written constitution in the United Kingdom remains a distant dream. Its power also helps to explain why regulation of the banks is scarcely better than it was before the crash, why there are no effective curbs on executive pay and bonuses and why successive governments fail to act against the UK's dependent tax havens.

But now at last we begin to see it. It happens that the Lord Mayor's Show, in which the Corporation flaunts its ancient wealth and power, takes place on 12 November. If ever there were a pageant that cries out for peaceful protest and dissent, here it is. Expect fireworks – and not just those laid on by the Lord Mayor.

source: http://www.guardian.co.uk/commentisfree/2011/oct/31/corporation-london-city-medieval

Russia joins WTO and aligns on Syria at same time - call me cynical but...

Russia has apparently been negotiating for 18 years to join the WTO, which brings with it certain privileges. USA and NATO (major groups of countries behinf WTO) have wanted to deal with Syria, Iran and some others (even Pakistan) more directly, but have been hampered by lack of agreement with Russia and China.

Now Russia joins WTO and in the same breathm aligns with USA with a stronger statement regarding Syria. What comes to mind as I type regarding this?

1. What does China think about this, as they have a military pact with Russia
2. What will come next; Iran?
3. How will China respond if Russia aligns more with USA/NATO?
4. What will happen with Pakistan, which the CIA has long had on a hit list for regime change / breaking up into smaller states. How will China respond if Russia accepts this?

We live in interesting times.

Russia Sends Nuclear Subs To Patrol Cyprus Waters - Report

2011-09-12 18:43:50

Russia has sent two nuclear-powered submarines to patrol Eastern Mediterranean waters around Cyprus and enforce the island's right to explore for undersea oil and gas in its territorial seas, according to information from Defencenet.gr, citing a Russian FM spokesman.

Alexander Lukashevich said that Russia supports Cyprus and guarantees its security if it is threatened: "Under the UN Convention on International Law, among 162 other signatory states, including Cyprus, each state has sovereign rights in its EEZ for exploring, exploiting and protecting both live and non-living natural resources, including water, the seabed and subsoil," said Lukashevich in comments made on August 19th and reported by Defencenet.gr (in Greek).

So far there has been no reaction from the foreign ministry on reports that Russian submarines will be sent to protect Cyprus from any potential military threat from Turkey. A telephone call to the foreign ministry for comment has not yet been returned. A telephone call to the press attache at the Russian Embassy in Nicosia has also not yet been returned. The submarines are due in early September and are being interpreted as a clear warning to Turkey to stay away from Noble Energy's drilling sites in Block 12. Noble is set to start exploring for undersea gas at the beginning of October along with Israeli energy company DELEK, which has reached an agreement with Noble Energy to share in its licensing deal with Cyprus, reported Globes.co.il.

Foreign Minister Erato Kozakou-Marcoullis just wrapped up a visit to Israel to discuss undersea hydrocarbon exploration with President of Israel Shimon Peres, Prime Minister Benjamin Netanyahu and Foreign Minister Avigdor Liberman. Israel and Cyprus' interests are closely aligned after the two countries signed an agreement delimiting their maritime borders in late 2010. The agreement also led to cooperation on undersea reserves exploitation and closer diplomatic relations, with Peres expected to visit Cyprus in the near future.

Turkey has also not yet commented on the development and is one of the countries which has not signed the UN Convention on the Law of the Seas, which has been in force since 1994. There are 162 countries that have ratified the Convention, including Cyprus and Greece.

On August 9th, Turkey renewed its veiled threats towards Cyprus on the issue of undersea gas and oil exploration, with a statement from its foreign ministry saying that "the Greek Cypriot Administration does not represent in law or in fact the Turkish Cypriots and Cyprus as a whole." Bilateral agreements between Cyprus, Lebanon and Israel are "unilateral actions" which could derail settlement talks, give rise to new conflicts and increase tensions in the region, according to the statement. "These unlawful acts create tension in the region, compromise and prejudge the Turkish Cypriots’ existing and inherent equal rights over the natural resources of the island," says Turkey's foreign ministry.

In response, recently-appointed foreign minister Erato Kozakou-Marcoulis said that the statements were 'posturing' from Turkey and that she would complain to the UN Security Council and the EU. And President Demetris Christofias called on the international community to end its silence on Turkey's threatening attitude to Cyprus.

Behind the scenes, the international community backs Cyprus on its oil exploration, according to US cables released by Wikileaks.ch. The government's plan to allow US companies like Noble Energy and others to drill in its Exclusive Economic Zone is well within its legal rights and Turkey does not have a "legal leg to stand on", says a 2007 confidential cable from the US Embassy in Nicosia.

EU tells Ankara (Turkey) to back off

2011-09-12 18:56:34

By Stefanos Evripidou Published on September 9, 2011 Cyprus Mail

THE EUROPEAN Commission yesterday issued its strongest rebuke yet to Turkey over its threatening behaviour towards Cyprus’ efforts to drill for hydrocarbon reserves within its own Exclusive Economic Zone (EEZ).

Unfazed, Turkish Prime Minister Recep Tayyip Erdogan continued to raise the stakes in his row with Israel and Cyprus over hydrocarbon explorations in the eastern Mediterranean, vowing yesterday to stop them from exploiting natural resources in the area while also pledging to send warships to escort aid to Gaza. The EU, through Enlargement Commissioner Stefan Fule yesterday “urged Turkey to refrain from any kind of threat, sources of friction or action, which could negatively affect good neighbourly relations and the peaceful settlement of border disputes”.

In a released statement, Fule said, “The Commission regrets any statements that are not conducive to this objective,” noting that it “regularly reiterates these issues in its discussions with Turkey and will continue to monitor Turkey’s commitments to good neighbourly relations in the light of the principle of peaceful settlement of disputes”.

The Commission further highlighted the importance of progress in the normalisation of relations between Turkey and the Republic of Cyprus. The EU also “stressed all the sovereign rights of EU member states which include entering into bilateral agreements, in accordance with the EU acquis and international law, including the UN Convention on the Law of the Sea”.

The Commission underlined the “urgent need” to reach a comprehensive settlement of the Cyprus issue.

“Ahead of the crucial phase of Cyprus talks this autumn, it is essential that all parties concerned exert restrain and do their utmost to ensure a positive climate that will facilitate a successful completion of the process,” said the statement released by Fule’s office.

Tensions in the eastern Mediterranean are growing by the day as top Turkish officials continue to make cutting comments on Turkey’s plans to beef up navy patrols in the region and secure free navigation of the seas, following its spat with Israel over nine activists killed in international waters last year. Apart from Turkish demands for an Israeli apology, compensation for the families of the dead and free passage to Gaza, the combative tone of the Turkish leadership is also viewed by some analysts as a response to Israel and Cyprus’ plans to explore for oil and gas in their respective EEZs.

According to Reuters, Turkish Prime Minister Recep Tayyip Erdogan went a step further yesterday in an interview with Al Jazeera saying Turkish warships will escort any Turkish aid vessels to Palestinians in the Gaza Strip, preventing Israel from attacking them again. Erdogan also said that Turkey had taken steps to stop Israel from unilaterally exploiting natural resources from the eastern Mediterranean. “Turkish warships, in the first place, are authorised to protect our ships that carry humanitarian aid to Gaza,” Erdogan said in the interview, broadcast by Al Jazeera with an Arabic translation.

“You know that Israel has begun to declare that it has the right to act in exclusive economic areas in the Mediterranean,” Erdogan said, apparently in reference to Israeli plans to exploit offshore gas reserves found in areas that are also claimed by Lebanon. “You will see that it will not be the owner of this right, because Turkey, as a guarantor of the Turkish republic of north Cyprus, has taken steps in the area, and it will be decisive and holding fast to the right to monitor international waters in the east Mediterranean,” he warned. Deploying warships to escort aid vessels to Gaza and direct interference in the exploitation of Israel and Cyprus’ natural resources are the boldest statements yet to come from the outspoken Turkish leader.

Former Turkish Cypriot leader Mehmet Ali Talat was quoted in Turkish Cypriot press yesterday criticising President Demetris Christofias for being “insanely brave” in daring to explore the island’s natural resources before a Cyprus solution. Defence Minister Demetris Eliades yesterday condemned Erdogan’s statements, noting that Turkey has reached the point of issuing direct threats to numerous countries.

“Turkey with its overt threats against Cyprus is exposed in the eyes of the international community,” said Eliades. Government spokesman Stefanos Stefanou said yesterday: “Turkey needs to get the message that all states should act within the framework of international law because this safeguards peace and good relations between neighbouring states. Unfortunately Turkey opts to provoke and opts for tension.”

In an interview with Voice of America, Foreign Minister Erato Kozakou Marcoullis questioned how Turkey planned to disrupt drilling, undertaken by Houston-based Noble Energy, which is due to start by month’s end. “I would like to hear from Turkish officials what exactly they plan to do? Do they plan to attack Noble Energy’s equipment when they start the drilling, because it is not the Republic of Cyprus that is doing the drilling?” Marcoullis called on Turkey to act like a European country and conduct its foreign policy based on the UN Charter and European principles and laws.

Head of the Cyprus Chamber of Commerce and Industry (KEVE) Manthos Mavromatis yesterday said the American company was ready to begin drilling despite the threat. Noble presented its plans at a closed gathering on Wednesday organised by KEVE and the Cyprus-American Business Association, in the presence of US Embassy officials.

According to Mavromatis, Noble plans to move the oil rig to Block 12 for drilling after September 20.

He noted that Noble is taking into consideration the threats but is proceeding normally, in coordination with the US State Department and Embassy here.

Globalisation Driving the Nation State to Bankruptcy

Even five years ago, it was unusual to hear of "Nation States" and their participation in the global economy as corporate units, with borrowings (debt) just like other "corporations" (yes you heard me right.I mean like the City Of London, and Queensland Incorporated). this newsletter from Dan Denning of Daily Reckoning Australia takes a look at the Nation States and global forces, and pokes a stick at what might happen...

Steve B
=====

--You know there’s a whole other world out there. Someone might want to tell this to Australia’s political establishment. It’s narrowly focussed on the idea of taxing carbon dioxide emissions as a means to redistribute income in the Aussie economy. But meanwhile, there are some ominous signs from the rest of the world that could spell trouble here soon enough.
--The first example is Greece. Default on Greek sovereign debt, as we’ve mentioned before, is seemingly inevitable. Everything that happens between now and then is a delaying tactic so that select European creditors can sell their Greek debt or otherwise reduce their exposure to the eventually restructuring/de-facto default.
--Ratings agency Standard and Poor’s lowered Greece’s sovereign credit rating by three levels to Triple C. Greece sits at the bottom of the sovereign ladder, now, at least in terms of credit ratings. S&P said it considers a restructure of Greek debt, where creditors take losses and accept a longer maturity, is effectively a default.
--Greece is a prelude to what will happen at local, state and national levels all over the Western world. It will vary in some places, of course. In Europe, nations like Greece, Portugal, Ireland, Spain, and Italy are unable to deal with huge government debt loads with inflation, the traditional way of easing debt burdens. This forces these countries to cede sovereignty to their European money masters, sell off national assets, and accept austerity.
--Greece is the birthplace of modern democracy. There’s probably something fitting about Greece being the first Western nation to deal with a full reckoning of its debt problem.  And of course the debt problem is only the extension of the problems of the Western Welfare State in a globalised world. Globalisation, come to think of it, is proving to be the enemy of the Nation State.
--We’ll save the elaboration of that thought for later this week. For now, even if Australian lenders have no direct exposure to a Greek default, they will have direct exposure to the low-level chaos that ensues in Europe’s banking market, and the general ripples in global capital markets (higher interest rates).
--What about China? That’s a much more understandable and immediate concern to Australia. Reuters reports that China’s money growth has slowed to a 30-month low. Hikes in reserve ration requirements and interest rates are finally starting to bite. That said, the broadest measure of Chinese money supply (M2) was still up 15.1% for the 12 months ending in May. And Chinese banks still loaned $85 billion in new money that month.
--Investment in fixed assets—resource-intensive construction and infrastructure projects—is running at 50% of Chinese GDP. That’s historically high and unsustainable. But we’ve been saying that about China for a while now. So what should you watch for to see that the government has finally popped China’s credit bubble?

--How about the Shanghai Composite, China’s broadest measure of stocks? There’s been a speculative boom in Chinese property, too. But the stock market is the first place you start to see tighter credit growth hit speculators. The Shanghai Composite is down 12% since early April. Check out the 10-year chart below.

--A 10-year perspective captures a lot of history. You can see that Chinese stocks were not big beneficiaries of the big 2003 interest rate cuts in the Western World. But by mid-2005, the resource and consumer demand those rate cuts had triggered (via liquidity) started to get priced into the Chinese market. And with Chinese interest rates low and government stimulus high, the market took off.
--After the GFC crash the Chinese market recovered more quickly than its Western peers. But since touching 3,500 in late 2009, it’s made a series of lower lows. Now, the 50-day moving average is again in danger of crossing below the 200-day moving average. That’s a bearish short-term sign.
--Is it a bearish long-term sign, though? And does it tell you that China’s credit bubble has popped, with economy-wide deleveraging on the way? It’s too soon to say that. Official Chinese consumer inflation numbers come out tomorrow, though. If the CPI is running hot at 5% or better, expect more monetary tightening by the People’s Bank of China. And don’t expect investors to like that.
--Finally, our thoughts and prayers go out to our readers in New Zealand and especially Christchurch. More aftershocks from September’s quake hit the city yesterday. More are expected. We hope our readers are safe and sound and doing the best they can.
Dan Denning
Daily Reckoning Australia

source: http://www.dailyreckoning.com.au/globalisation-driving-the-nation-state-to-bankruptcy/2011/06/14/
date: 14/06/2011