james36armstrong at hotmail.com
Wed Mar 30 19:36:34 BST 2011
Save yourself £27,000 fees and £50,000 repayments of your
student loan by reading this
distillation of all political science. Hons. grads of PPE at Oxford
clearly miss this point.
The Gross Capitalization (GC) of just one bank, Barclays ,
is equal to the total Gross Domestic
Product of UK. Think of it!
Barclays’ GC was
£1.3trillion in 2007. UK GDP was £1.3
trillion. (That’s £1.3 million x million.
“Barclays Gross Balance Sheet is 100 per cent of UK Gross
Nils Pratley, Guardian , 30 March 2011.
This confirms what we otherwise have come to realize, that
corporations run Britain,
not the government.
This explains why Prime Ministers exhort banks not to pay
bonuses, yet Eric Daniels the outgoing chair of Lloyds (now notionally owned
by the state) was paid a bonus of £1.45million, why Barclays paid £2billion in
bonuses , and Lloyds £200million.
Compare the Prime Minister’s` salary of £164,000 and ask
yourself where the power lies?
Our so called democratic system of government gives power to
the corporations, money to their executives, and the votes to citizens.
As someone said, “If the vote was worth anything they would
In May a referendum will decide whether to change to an
alternative voting system.
Personally I will not vote, since the result is only marginally important and significantly
I have not voted for years, believing that voting is a
sham. Today’s revelation by Nils Pratley just puts the case
Perhaps even more revealingly, the gross capitalisation of
the US bank, JP
equals 24 per cent of the
GDP of USA.
To control Corporations.
The enemy within are the corporations. To control them we
should fix a variable termination date for each.
To bring about change
When 50 per cent of us don’t vote , we can argue that in a democracy, we have no legitimate representative
In Athens ,
democracy meant not being represented by someone else, but direct government- every
citizen being required to actively govern at some level.
To bring democracy up to date
I appreciate what
Paine did , but that was 250 years ago, and Pankhurst 100. Now we have grown up, democracy is a process,
not a stasis and it is time to move to universal adult direct government by
peoples’ assembly, controlling the H of
C executive. .
Where does all that money go? Why do CEO’s ‘need’ £million
The bonuses are converted into capital funds. £1million is the starting level entrance fee which fund
managers demand for those speculating in the mortgage/ commodity/currency
secondary markets. Computer trading
relies on millions of transactions each making a fraction of a fraction of 1p
Believe me, they
don’t teach you this in the M.A.
inter-honours economics course at Edinburgh Uni.
James . Dorchester 30 March 2011
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