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By David Vance On July 8th, 2011 at 8:39 am

The twisting against reality continues;

THE European Central Bank (ECB) last night said it will accept Portuguese government debt as collateral for its loans to banks, even if it is downgraded to junk status. The decision breaks the ECB’s own rules on credit quality.

It comes after Moody’s ratings agency cut its Portuguese rating on Tuesday. The same decision was taken when the Greek government’s debt rating was cut earlier this year. It means there will not be sudden and destabilising pressure on European banks to repay ECB loans secured on the bonds if other agencies follow Moody’s decision. ECB rules do not permit the use of “junk” bonds as loan collateral but the ECB picks the highest rating available when applying its criteria

But rules are there to be broken in the name of sustaining the grand illusion. So junk is treated as substantive collateral and the ECB is shown up for the lunatic freakshow it really is.


By David Vance On June 28th, 2011 at 10:04 am

Artist's impression of the Europa building

The disconnect between the euro elite and the people widens;

The prime minister has strongly criticised the construction of a building in Brussels that will be the new home for European Union summits. The new building, called “Europa”, is next to the current one and is due to be completed in 2014. British officials estimate the UK taxpayers’ bill for the project will be about £25m. At an EU summit in Brussels, David Cameron said it was “immensely frustrating” at a time of cuts.

Well, it may be “immensely frustrating” to Cameron but of course as with so much else he will do precisely nothing about it. The EU will take our ££millions to ensure that Europa rises and provides the little Euro princes with the splendour they feel they deserve. There can be only one solution to this and it necessitates the UK re-asserting full National Sovereignty by leaving the EU, something our political leaders and sedated populace refuse to countenance.

So how is it now, Ozymandias?

By Mike Cunningham On June 26th, 2011 at 9:37 pm

I met a traveller from an antique land
Who said: “Two vast and trunkless legs of stone
Stand in the desert. Near them on the sand,
Half sunk, a shattered visage lies, whose frown
And wrinkled lip and sneer of cold command
Tell that its sculptor well those passions read
Which yet survive, stamped on these lifeless things,
The hand that mocked them and the heart that fed.
And on the pedestal these words appear:
`My name is Ozymandias, King of Kings:
Look on my works, ye mighty, and despair!’
Nothing beside remains. Round the decay
Of that colossal wreck, boundless and bare,
The lone and level sands stretch far away”.

with acknowledgements and salutations to Percy


By Pete Moore On June 25th, 2011 at 6:04 pm

The verdict of history is that the Little Englanders were completely right about the common currency and the pro-Euro guilty completely wrong. A good time for the quislings to shut up, you might think. Not a bit of it. Tony Blair, demonstrating the front that comes only to a politician, believes that the time may yet still come for Britain to join the Euro.

These people speak only to confirm what mad, mediocre windbags they are. The battle is over, it was a rout. The question is whether there will be a Euro in future years. Interestingly, he states “I was always absolutely in favour of doing it politically and still am, by the way.” Reality, lives, liberty, national sovereignty and the iron laws of economics never do come into it for the power elite. So he wasn’t in favour of joining for any well-meaning (though misguided) reason, it was always the politics, the power to rule over the lives of others. Truly they are sociopaths.

EU Threatens World Commerce

By Patrick Van Roy On June 5th, 2011 at 11:37 pm

The Commie Czars in Belgium, and the World Bank are about to crush an already ailing industry, and  increase the cost of all goods not manufactured locally in any country in the EU. All in the name of a fantasy.

The U.N. talks are stalled on the future of Kyoto, which only caps rich country emissions. Developing countries want to extend the pact while most developed nations want to replace it.

Global shipping and aviation emissions are neither limited nor measured under Kyoto. As a result these sectors are coming under closer scrutiny and the European Union in particular is involved in an escalating spat with the global airline body.

The EU plans a levy on the emissions of most flights that land or depart from Europe from January 2012, regardless of airline, a measure the head of the International Air Transport Association (IATA) on Sunday called illegal.

In addition to a levy on transport fuels, the World Bank is investigating raising funds from the sale of emissions permits to countries and companies, as already happens under the EU carbon market, and soft loans from development banks to stimulate private sector cash, said Steer.

Currently the majority of the worlds Airlines are in financial disrepair, all have cut flights, all have cut employees, and all have cut saleries. Everyone of these cuts can be linked to the price of fuel. I can’t comment on the Marritime Cargo industry it’s not my field, but for over 16yrs the Airline industry was.

Airlines like British Airways, and Air France make the majority of their money from shipping Cargo atleast on their overseas lines. They can fly any flight without passengers across the Atlantic, and still make a profit that is as long as it’s cargo hold is full. As an example I give you Philadelphia International, it used to have 2 British Airways flights and 2 Air France flights daily. 1 of BAs flights were always full of passengers and both Air Frances flights were full of passengers.

Today out of PHL you still have two BA flights with constant rumers of a third, and ZERO Air France flights. The reason, BA has a vast shipping setup in Philly, Air France had none they didn’t even have a shipping agent to recruit cargo loads out of Philly even though they had direct flights to Paris. Instead they only got booking from BAs overflow. So even though the flights flew full of passengers today there are no Air France flts out of PHL.

full story

Meanwhile, back in the ‘Real’ world…

By Mike Cunningham On May 6th, 2011 at 8:48 am

Been driving recently? Been out for a long walk through scenic hills or moorlands? Done any running to get a little fitter? Ever wondered how the Channel Tunnel boys managed to meet in the middle less than six inches off track? Read of an amazing rescue by helicopter miles out to sea, with absolutely no land reference points to guide the pilot and navigator? Oil spill tracking, to animal migration habits, it is all done at the click of a mouse and the touch of a button; the mouse and buttons being of course connected to a G.P.S. (Global Positioning Satellite) receiver. You can track your exact location, within ten yards of course, at any place upon this Planet Earth, and the greatest thing about the American G.P.S. system is that once you have purchased your Tom-Tom, or Garmin or whichever of the dozens of systems available, there are no charges whatsoever! Amazing that! absolutely free to use. Fair enough, if you want more maps, or updated speed-camera lists, or whatever else, you may have to pay extra, but you still do not pay one penny towards the G.P.S. system itself. Free, like America is; free as the air we breathe!

So you might be asking yourself why you, as a British taxpayer, are paying into a huge money pot to launch thirty, that is twenty-seven plus three spare satellites, to serve as an alternative G.P.S. system? Because you, along with the other 350 million residents of the nations who make up the European Union, are doing exactly that. You, or rather the European Space Agency, on your behalf, are spending mind-boggling sums of money shovelling test-vehicles into orbit, and preparing to spend even more mind-bending sums of your cash on the launch rocketry, receiving stations and operating personnel; all so that Europe can say “We have one as well!” The boast of the Europeans, by the way, is that they will be making a profit; on an estimated total cost of £21 billion.

I bet you feel really proud right about now, don’t you?


By David Vance On April 18th, 2011 at 8:29 am

The EU is really just one vast organised hypocrisy;

“Billions of taxpayers’ cash is being spent on spurious aid projects through the EU, including giving dance lessons to Africans who earn less than 70p a day.

Britons pay £1.4billion towards the EU’s £10billion aid budget, but much of the money is going to corrupt regimes or projects where no checks are made that it is properly spent. Meanwhile, relatively wealthy Turkey is the EU’s main recipient of aid, raking in £500million a year.

The EU’s Court of Auditors has criticised Brussels for failing to measure the impact of the aid. It said the EU commission randomly selected projects without assessing a country’s needs, and corrupt regimes were getting vast handouts just by filling out paperwork. In Burkina Faso, where half the population earn less than 70p a day, Belgian instructors are teaching people how to dance through the ‘I Dance Therefore I Am’ project. Organisers say: ‘If its music moves, Africa will also move.’

The EU has given £8.8million to an immigration advisory centre in Mali, which tells people how to find jobs in Europe. The centre has found work for six people in three years.”

You couldn’t make it up, could you?


By David Vance On April 11th, 2011 at 2:22 pm

Aren’t you GLAD that the UK is not in the Eurozone?

“The political feud between the two leading parties in Portugal reached new heights over the weekend, ahead of the visit of EU, IMF and ECB officials to negotiate the bail-out on Tuesday. José Sócrates, Portugal’s caretaker Prime Minister, argued on Sunday that the opposition party had no policies, only “a box of surprises full of vague ideas and empty words”.

The leading parties had agreed to negotiate the bail-out together in order to guarantee cross party consensus, however, Socrates and Pedro Passos Coelho, leaders of the governing and main opposition party respectively, are said to barely be on speaking terms.

It is widely reported that the €80bn bail-out will involve significant austerity measures and labour market reforms, as well as a privatisation scheme to raise funds. Meanwhile, UK Shadow Chancellor Ed Balls suggested that the UK should not contribute to the bail-out of Portugal, despite the agreement being signed by the outgoing Labour government. Balls said “I think this is a crisis of the eurozone and the clear bulk of the financing should come from the eurozone.”

Let’s put Labour hypocrisy to one side and focus instead on Portugal. It is being torn in two with no hope of economic recovery and warring local politicians fighting over will do the IMF/EU bidding as another German fiefdom is created, this time bordering the Atlantic.


By David Vance On April 1st, 2011 at 12:43 pm

I read that a leader in the Economist argues that, “Greece, Ireland and Portugal should restructure their debts now”. It continues, “These economies are on an unsustainable course, but not for lack of effort by their governments. Greece and Ireland have made heroic budget cuts. Greece is trying hard to free up its rigid economy. Portugal has lagged in scrapping stifling rules, but its fiscal tightening is bold. In all three places the outlook is darkening in large part because of mistakes made in Brussels, Frankfurt and Berlin.”

Meanwhile, on Conservative Home, Martin Callanan, leader of the Conservative MEPs, argues that, “Apart from contributing to the IMF portion of a Portuguese bailout, Britain should refuse to take part… Any steps to force the UK to join in by handing over money through the EFSM should be challenged politically, and if necessary legally as well.”

The Economist’s Charlemagne notes that EU decision-making has been debilitated by domestic political concerns. However, the article adds, “The answer is not to bemoan national politics, but to enhance democracy. In Europe the Brussels institutions could be made more relevant to voters, for instance by strengthening the influence of national parliaments over EU decisions.”

Following the Irish bank stress tests, City AM’s Alistair Heath argues that Ireland should learn the lessons of Denmark, which forced losses on bondholders. “The Danish authorities have emerged as key proponents of this more rational approach and have even written to the European authorities, urging them to be harsher on senior bondholders.” The Irish Times argues, “The cash for the latest bailout will come from State resources and from the €67.5 billion financing facility agreed with the EU and the IMF. But the wider issue of whether the EU-IMF agreement leaves the Irish economy on a sustainable path remains open to question. This will form part of complex negotiations on the future of the euro zone over coming months.”

The clock is ticking and whilst Eurocrats deny reality the reality dawns – the EU cannot continue in its present form. Good. The sooner we break apart this supranational tyranny the better by imposing National Sovereignty.


By David Vance On March 31st, 2011 at 8:19 am

I read that the British contribution to the EU budget increased from £5.3billion in 2009 to £9.2 billion last year, according to the Office for National Statistics.

The increase is equivalent to the extra money being raised from the increase in National Insurance for higher-rate taxpayers, or the new 50p top rate of income tax. Taxpayers are being forced to contribute more following Tony Blair’s decision to reduce the size of this country’s rebate. The pound has also fallen in value compared with the euro, which means Britain has to pay more. The Treasury has also had to support EU bail-outs for Ireland and Greece. Last night, Treasury sources reacted with dismay to the increase in payments and said they were working to restrict further rises.

The UK will not be able to “restrict” further increases until it finds the courage to ask the people of the UK if they want to exit EU-land.