Babel looking shaky

Gerrard Winstanley office at
Wed Sep 17 01:24:42 BST 2008

Interesting post on our forum from a Whitehall Bin Man about Babel's
demise which I've copied below! That's after a link sent to me earlier
by Mark Barrett.
We are now into the second year of the unraveling of the world
financial system. It could be described as the Great Denouement (or
final act) of a plot that began in 1913, when Congress created the
Federal Reserve System, aka the Focus of Evil in the Modern World. So
far the effects of the unraveling have had minimal impact on the
larger economy. This is about to change.

Stuck to the side of our compacter lorry - MoD waste paper basket
collection this evening.

George Monbiot.

He said in his book, The Age of Consent, that the best way for Third
World countries to recover from their debts would be to default on
their debts en masse and in a co ordinated way. We start with Uganda
and then Gambia, Congo, Botswana, Argentina, Chile, Peru... In this
way the world's banking system is destroyed as $trillions must be
written off - "invade, then" being the response to the bank when it
incontinently demands its money back.

I couldn't think of a better time to do it. Turning the US into a
poorer country than Iraq because the US $ has no worth (it only exists
thanks to being the world's most used currency - Saddam used Euros
because of this) would be a sad side effect, but given the choice
between a Neocon geriatric and a megalomainiac in November, that's no
great loss!


--- In diggers350 at, Simon Fairlie <chapter7 at ...> wrote:
> The news gets better and better, see below.
> Simon
> Global market turmoil could burst Dubai property bubble
> 16 September, 2008
> By Dan Stewart
> Real estate giants in Middle East see shares plunge after Lehman Bros  
> collapse
> The collapse of US banking giant Lehman Bros has shaken the UAE  
> markets, causing fears that the Dubai property boom could be halted  
> in its tracks.
> Early trading today saw Dubai’s main index drop 4% on opening.
> Tamweel fell by 7% and Emaar Properties dropped over 6%. In Abu  
> Dhabi, Aldar Properties fell almost 6%.
> The stocks rebounded later in the day, but the volatility of global  
> trading could have serious repercussions on the increasinly unstable  
> Dubai property market.
> Emaar Properties, the developer behind the Burj Dubai, announced a  
> share buyback scheme this weekend after its shares fell nearly 50% in  
> the past year.
> But the announcement that it would buy back 10% of its shares has so  
> far failed to turn Emaar’s fortunes around.
> The company’s share price yesterday fell to a three-year low, and  
> sank lower still in today’s downturn.
> The collapse of Lehman Brothers and the simultaneous acquisition of  
> Merrill Lynch by the Bank of America have sent stock markets  
> worldwide into freefall.

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