Wednesday, 6 March 2013


6 March 2013.


The current horror of the money-economy, the allegedly FREE MARKETS, at EU and Swiss political curbs on executive pay – including, horror piled upon horror, capping bankers’ bonuses at “only” once-times their annual salaries – is nothing compared to the fatal heart attacks they will have when the global financial system is inevitably and permanently nationalised and they all become civil servants – on annual $21,000 Grade F salaries – plus Luncheon Vouchers.

Reports of the recently horrified, tell us that such draconian, crippling limitations on the spivs, gamblers and swindlers who are stealing all the global liquidity and shovelling it to tax-havens will affect, for example, in The City of London, 5,000 “banking” executives. If we treble that for the horrified of Wall Street, another 15,000, and add in the Forbes and Sunday Times Rich Lists – say another 2,500 frugal souls – gives 22,500 grieving owners of the universe. My own reckoning of the global numbers of people hiding $21 trillion assets in tax-havens is about 0.5% (half a percent), excluding the 2 billion poorest folk; say 31 million deeply shocked and grieving souls who now fear for their limitless, work-free, tax-free incomes and capital.

As Hugo Chavez, the socialist President of Venezuela, who died today, realised – some fundamental commodities belong to everyone. In Venezuela he said it is the oil under the ground. Most of us would agree that the air we breathe and the rain that falls from the skies belong to all of us. Some soft-pinko-liberals will include the right to food. In the modern global economy, after air and water, the money supply is the most ubiquitous, necessary and vital commodity. If the Money-Economy was working, the public-private control by national treasuries and private bankers would not be questioned. But it isn’t working.


Worldwide, national treasuries are printing not more than $200 billion a year in Quantitative Easing (QE) in a desperate attempt to keep liquidity flowing. It isn’t working. QE only replaces 20% of the amount of new assets gouged out to tax-havens at the rate of $1 trillion a year. 80% of the cash we (the 99.5%) all generate is still siphoned off by the half-percent.  This 80% adds to the $21 trillion already frozen in tax-havens – stopping the global economy. Unlike the great industrialists of old – for example the business leaders who built New York or Model Villages in Britain – today’s fat timid bunch have the sole aim of gouging out assets and hiding them. Today’s Rich List members are horrified by threatened curbs – but are paralysed and terrified of risking any part of what they have got. They cannot be trusted with the control of the world’s money. The City, Wall Street, The Free Markets controlling the Money-Economy, will all be nationalised and our assets will be repatriated.

Psychological counselling clinics will have to be established on all private estates to treat the half-percent – Post-Nationalisation-Stress-Disorders will be rife across the five-star lounges and golf clubs of the world.



 …National treasuries will however retaliate. The OECD in Paris has been working to control tax-havens through diplomatic channels for the past 6 years. As trans-border electronic transactions increase, national government tax collections are likely to decrease – along with their patience and measured speed of response.

If a tax collections crisis occurs in all OECD countries one powerful solutions could be the sudden launch of a new global currency, say, the EuroDollarYen (EDY) requiring all citizens to convert their cash and investment balances and at the same time explain their source and tax status. The massive tax collections and money confiscation that would follow would more than compensate for years of poor treasury income. A  Global-Fiscal-Responsibilities-Convention can be forecast by 2017 that will finally end cyberspace tax avoidance and money laundering. It will create the fiscal and financial stability for teleworkers to live in any place they would like to live while retaining jobs perhaps hundreds or thousands of miles away. A world currency is inevitable and convergence of the main tax rates will occur. Local variances will proliferate as local authorities compete to attract high earning teleworkers to live, and to pay taxes, in their regions.

(Written in 2000) The Author, Noel Hodson, has 30 years accountancy experience, was an employer and entrepreneur, specialising in long term tax-planning. He has advised more than 5,000 SME's and has been a telework consultant to British Telecom and the European Commission for ten years. He wrote the Economics of Teleworking (BT Labs 1992) and Teleworking Explained (Wiley & Sons 1993) and is known for his seminal work on the Costs & Benefits & Ecological Impact of telework. His WEB Site isHttp:// . He is a director of ITAC the International Telework Association and Council in Washington DC. Here he makes the following forecasts about the transformations that the Information Society will bring:

Written in 2000 - Future Forecasts  1 - Telework will force radical economic and political changes. The boss-employee relationship will be replaced by a collegiate culture. Computer telephony global compatibility will be achieved. - 2 - Russia will become the wealthiest nation in Europe. -  3 - Russia will bypass the wired telephony stage and use wireless systems -   4 - I forecasted GRIDLOCK in the UK before 2007 in an analysis "The Impact of the Information Society on Future Traffic Congestion 1997-2017"; it is likely that, -5- despite increased teleworking, Europe will suffer several gridlocks before it builds integrated transport systems -6- I also forecast that Cyberspace Headquarters, virtual reality, 24 hours a day, electronic offices will be developed; where attendees will be able to "see" each others' virtual presence. I forecast that people will have implanted computers in their bodies.  - 7 - I forecast that cars will be sold more for leisure use than for business use, within the next decade; and that cars will be shared, via computer systems, to use them for a larger percentage of their lives. - 8 - I forecast that 60% of all EU jobs will be teleworked jobs, (location independent) by 2015 and that only 40%, essentially people-face-to-face-with-people jobs, will be at fixed locations. - 9 - I forecast that Wired-Democracy will be slow to arrive, but will certainly come and replace traditional parliamentary meetings. Voters will vote on many issues every year in electronic referenda.  10 - There will be a huge reduction in the number of financial services jobs, from 1999 to 2009, across the world.   - 11 - I forecast there will be a flood of cyberspace tax-haven planning for ordinary citizens before international agencies are established to harmonise tax rates world-wide. And - 12 - that access to real information about money and economics will lead to the end of hundreds of years of secret profits and financial abuses - leading to the end of poverty. - 13 -  I forecast that numbers employed in financial services and in automated manufacturing will be reduced by 90% by 2021 and that international controls on speculation in stock, commodities, money and derivatives markets will be in force. - 14 -  I forecast that OECD citizens will be able to live in and work from almost any part of the planet by 2021 with normal social security from their country of origin.  Somebody will register an "Off-Planet" company, for tax purposes, on a satellite, in the next 5 years.   15 - A new global currency will be introduced without warning to catch all money-laundering, requiring criminals to explain the source of their wealth; computers will track all honest and dishonest flows of money world-wide. Tax avoidance and money laundering will be ended by international agreements - sooner than we like to think. - 16 - I forecast that most consumer goods will be manufactured in "factories that are computer controlled automated facilities, switched on and off by teleworking managers via the Internet".  And, - 17 - I believe that geographic and national boundaries will dissolve and that communities will become self-governing, devolved, special interest groups under the global umbrella of international agencies  - e.g. for finance, defence, clean air etc. Therefore, government for example in Europe, will become infinitely subtle and flexible. "A subtle patchwork of hundreds of devolved communities under a European umbrella".


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