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Hello,

Is it just me or are most commentator's (including those at news night) still burying their heads in the sand when it comes to the BIG questions about our current economic situation.

By this I mean your not giving adaquate explanations of how ALL money is in fact debt and the entire 'fractional reserve' monetary system has led us, inexorably, to this point.

In the same way that you haven't 'had time' to feature fringe politicians like Ron Paul (who has correctly predicted everything up to now), you still cling on to the idea that we are presently suffering from some kind of unstoppable weather event. When in actuality the writing has been on the wall for the last 2 or 3 decades.

With the exception of Naome Klein I haven't heard one single staffer or guest come anywhere close to clearly explaining 'HOW MONEY WORKS'.

As much as I love and respect the ³ÉÈË¿ìÊÖ I feel that even you are afraid that the answer to that question unravels everything else we are obliged to believe about our society.

Please, 'go deep' in your research during these confusing times.

Thanks for reading, Ian.

CRISIS YES - BUT WHAT CRISIS?

Monetary chaos is a symptom; not fundamental. If you want a crisis to study - it is us.

The 'fit' between 'The Emperor's New Clothes' and this sudden discovery that money is not real, is EXACT. The little boy has spoken.
But will we take heed of the wider significance, or just bundle him of and go on living within the lie?

1. wholesale gas prices still dropping- where is the 'regulator'? or is the 'regulator' part of the problem?

2. massive 70% profits are being made from uk gas storage.

Very small thing but important in the long run but my local CO-OP supermarket does not offer plastic bags automatically now. Others do. I applaud the Co-op and hope that the others will follow suit. Less human environmental impact on the ecosystem and it saves carbon.

Chris Huhne stood up for the rights of Dr. Toben who is a holocaust denier wanted in Germany. Was he right? I vote Lib Dem, like Huhne but strongly disagree and think we should have less punitive but similar laws over here.

How about a long run economics view. I still feel like the experts and politicians are patting us all on the heads and saying "don't worry!" with regard to sub-prime debt and liquidity.

Meanwhile a derivatives/CDS tsunami is bearing down on us and will catch up with us in a year or two. Is it so?

How about investigating why diesel is still at around £123.9 a litre ( when oil is $89 a barrel) which is the same as it was when oil was $147 a barrel. I know tax is the major component of the cost but why has the price not come down....

I agree with ianallerdyce. (comment 1) However, Mrs Thatcher followed by son of Thatcher, Tory Blair, have consistently encouraged ordinary people to invest in 'THE MARKET'. We are bombarded with advertisements for loans, credit cards then consolidation loans that are directed at people with a very limited knowledge of finance and the way it works.

The ammount of gambling that Noo Labor has encouraged makes it seem OK to gamble with stocks and ecourages the present get it for nothing attitude that exists. Our key public sedrvices are being subsidised by the private sector (financed by the public sector) and charities. Charity should be an extra provision on top of our public services not a substitute.

Thatcher gave away our utilities, at knock down prices, making pots of cash for the speculators and gave the gullible public the false impression that, if the government are promoting this, it must be fairly safe.

Why was Arthur Scargill vilified by the press for insisting that there was still life in the coal industry. Now we see the speculators creeping back and opening mines that she used armed force and dodgy legal means to close down?

A few more questions.

Who has profited from the immoral rise in the price of property?

Who cajoled and conned a vulnerable public into taking on more debt than they could ever afford to pay back?

What happened to Thatchers Captains of industry that were going to bravely step in and run, what was, the public sector services?

Who was behind the immoral PFI initiative that has put our hospitals and schools into hock to big business (its seems forever)?

Who asked 'The Labour Party' to become NOO LABOR?

Who has profited from the sale of council houses putting families at risk of repossession?

Why did we get involved in Tory Blair's American backed invasion of oil-raq, (against the wishes of the majority of UK voters) murdering far more innocents than Saddam ever managed and spending gazzillions of pounds to make us even more unpopular in world politics (The Empire Strikes Blacks)?

Why are we broke?

Answer to all, MARKET FORCES.

Sean Appleby-Simpkin (still Socialist and almost fed up with saying "told you so)

phantomphiddler (#6) "We are bombarded with advertisements for loans, credit cards then consolidation loans that are directed at people with a very limited knowledge of finance and the way it works."

Surely not? New Labour intimates that everyone's 'equal' and one of them recently opined that the above sort of talk might even be patronising.

Apparently, some people feel 'liberated' knowing that today, thanks to New Labour, when they go to their GP, dentist, (insert any other well qualified professional) their contribution is likely to be treated as important by (potentially patronizing) so-called 'professionals'.

To messager no 1 ianalandyce

No, it is not "just you"; sad to say it is the ³ÉÈË¿ìÊÖ's hopeless, (very dated) reporting and presenting style - on all its news slots, on tv and radio - including Any questions, Any answers, Question Time (though sometimes Dimbleby does help us to make sense of some of the usual garbled nonsense of the politicians, with his interventions) local radio too, PM , Today etc etc...
except for the very odd presenter who proves the rule,

I have only found some relief on stations like LBC, and James Whale and even the Talk Radio's George Gallaway, where we are more likely to be told the situation more like it really is without the usual ³ÉÈË¿ìÊÖ specious waffle.

I've complained to Feedback(I implore others to do so) that the ³ÉÈË¿ìÊÖ style of reporting and the language used is mostly always 'inaccessible' with presenters and guests mouthing convoluted, meaningless terms as if read from a script, rarely coming back with a deserving trump comment - so that we are left screaming at the radio or Tv the question that should have been asked! Perhaps it is to cover up that the presenters too often do not have a grasp, and, most certainly not on the current situation which put simply is the biggest FRAUD ever - and should be being reported in those terms and in that context.

Newsnight and the ³ÉÈË¿ìÊÖ News Programmes generally must ban wafflle and Bla Bla if they want to keep us tuning in.
If a presenter or guest cannot explain or speak in terms that say, for example, a young person can understand then they are not doing their job! We need people who can explain serious matters with clarity people like Rory Bremmer, JOe Brand, Bird and Fortune, Will Self, Vince Cable (the only politician that makes some sense) and similar people - readers can suggest - .

Can fellow messagers and licence payers support the idea that there should be a big, current, nightly 'Special' broadcast so that ordinary people can fire their opninion and suggestions - UNCENCORED - in studios around the country or by phone, IN plain language to the likes of the CEO fraudsters and the culpable politicians who have caused this mess? Also, please get Blair out of hiding too as he is implicated in all this 'fraud'.

And, Jeremy and Co. Please find out why and tell us, the British Company executive officers are not being lined up and Publicly investigated? I saw the CEO of Lehman's on 'More 4' last night (not seen on ³ÉÈË¿ìÊÖ note) who was forced to admit live on TV that he had paid himself 500 million dollars and now owned several expensive properties in several States (is there more hidden )AND further, was stopped - just in time from handing out millions to his fellow execs as he was firing them - knowing that the company was about to go bankrupt. he then had the nerve to complain that it was not fair that Lehman's had not been bailed out by the (taxes)Government!!! You could not make it up!

Finally, where is Gordon's (and his cronies') stash hidden? wouldn't it be useful to know? also, tell us simply where the money has all been hidden - now that it is not being circulated. Is it on Mars?

Tee Hee jadedjean. Just off to take out a mortgage on a litre of diesel so I can get to work!

Sean Appleby-Simpkin (ex loyal Labour supporter).

PS. Can Newsnight do a programme on some real alternatives that we may be needing.
We may have to go back to go forward...
now that capitalism has failed mainly through Gordon Brown's and Bush' avowed refusal to regulate and their unique (in Europe) peddling of the drug of credit (usery) on little people who could not keep up with the fraudulent game.

I.e let's look seriously at better ways -:
1Credit unions (reinvent Mutual Building Societies)ha!
2 Bartar
3 Do it yourself House Building Co-ops.
4 Rental co-ops -
5 Communes (families, singles too, can combine resources - can be legally structured)
6 Lots of well organised, 'short life' arrangements of squatting co-ops, using the abandoned city office tower blocks - and to clog up the courts - as squatting was an ancient right!
7 'dig for victory' dig up your front gardens and grow spuds. Keep chickens.
8 But best of all, find ways to stop paying tax as I believe that the trust (covenent) is now totally broken between Britain's retrogressive-highly taxed - low earning- working poor ...and Nooo Labor (deliberate American spelling)!
9 So, where possible go self employed and use those well known 'accountancy methods' to avoid taxes - like 'they' do afterall the big (CEOs) boys will only get it all again next time round - assuming that we eventually come out of this one!
10 That way we could all work less hours so as not to store up wealth that will be pinched away from us through dodgy 'legal robbing' practices.
11 instead grow food and enjoy your families. Any more suggestions for alternatives ?

Got to agree completely with Nos. 1, 6 and 7, if these types of brains are about, why is our country in such a mess!!!!!

To number 8. ivegotanasbo

Here here on your point about the comedians/satirical journalists being able to explain things in a way that is understood. I think that it was Will Self on Radio 4 the other day likening high flying bankers to drug dealers (i.e. both taking a product and continually cutting it up and diluting it to get more money from it). I found that to be a brilliant analogy.

And Vince Cable has my vote for 'politician able to best put across his ideas in a way that means something'.

Fix to #7

DEPTH v IMMEDIACY

Hi Ian (#1) only just got in and read your posting. Pleased to see we are in similar vein (mine posted 'blind' as I went out a.m.)

If I read Paul Mason correctly, a week or so back, he made it clear that depth gets in the way of immediacy.

I have posted a couple of times on the NATURE of money, but the games afoot and must not be spoilt by too much fundamental scrutiny.