Friday, 29 June 2012


copyright Steve Bell
Big-Bang theories of the universe are being questioned, and this futurology blog should be focusing on these fuzzy physics fundamentals. BUT, this week’s LIBOR rate frauds in The City and Wall Street are such exemplars of what socio-economic fixes are needed before mankind can move on – into the new era of intelligent co-operation - that they must not be ignored.

The bad banks have been again caught fiddling the global bookkeeping. They are also the main conduits for advising on and siphoning capital to tax-havens and thus bankrupting nations like Greece and Ireland – and forcing unnecessary austerity on most OECD countries. They are sabotaging the real-economy, stealing our jobs and wrecking our children’s futures to increase their ill-gotten gains.

Apologist politicians and other parasites tell us that the banks’ offences require new laws to prosecute them. Not true! In the UK the False Accounting laws in the Theft Act and the Fraudulent Conspiracy laws will do the job. Similar laws exist in the USA.

In addition to fines and prison; can we please have our money back? Most bankers’ bonuses for the past 30 years have been paid under false pretences. Alzheimer’s-Free observers might recall that The City lost about £1.2 trillion in 2008/09 and Wall Street lost many trillions – wiping out all the supposed gains of the previous decades on which their (tax-haven) pay and bonuses were based. This a big sum of money that will make a significant difference to OECD nations’ economies. They fiddled those “rewards” they must now Pay them Back!


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