Dark derivatives, oily triggers, hitting bottom
Derivatives recent explosion, compared to GDP

Before the financial collapse the price of oil and other materials was so high the global economy slowed -  expanded less fast. This exposed the debt bubbles under the surface which then went pop, each collapse knocking down the next.

Once money represented stuff of value. In recent years the derivatives market has exploded, it is trading 'complex financial structures' - bets which might pay, but are underpinned by nothing substantial. They are used as securities to get real money from banks, I haven't heard that this has stopped.

£65 trillion is said to be the total of derivative value, much more than the world GDP

Banks havn't cared that securities are dodgy, they will be paid interest on the loans for now and their risk is backed by each other and by the govt. They are 'too big to fall'.

The real money from fraudulant derivatives make financiers ludicrously rich and enable corporations to shovel the rest of the earths and peoples resources into their gaping maw.

This seems obvious when you look at the figures, but it is not being said officially. Am I missing something or is everyone else deceived by the emporors derivative clothes?

The complex terms  - mostly 3 letter acronyms, make people shake their ears in perplexity and walk away. This is deliberate, it's not that you cant make sense of it because your stupid, it doesn't make sense and we're stupid not to see that.

Govts prop up banks and the present system to avoid everything crashing. |It's like a plane that keeps going on thin air by its momentum. All effort should now be to bring the plane down to earth. It would be a relief to get back to it.

If the banks were let fall the global economy would collapse for lack of credit. We would be thrown on our own resources, real savers' money would be guaranteed and transferred to an honourable bank.

It would be a miracle for the planet, it hasn't happened.

George Monbiot's stiff drink article below on the End is Ahead.

PS A peep into financiers world at the birth of the derivative con: 
The Corner House, a well-known lobby group which tries, and has succeeded in stopping government backing money for horendous exploitation projects in the 3rd world like dams and mines through 'export credit guarantees' heard a goverment minister mention these new instruments in passing. They were curious.

They later attended a financiers meeting where the talk was all about them, and very excited. They were told they were not meant to be there. These new instruments meant there was no longer any need for govt to back loans, these 'special instruments' would be treated as securities for the loans to gobble up resources, do massive mergers etc. Banks could create them and hold them in separate companies, and lend against them. Sounds improbable..

Maybe I am wrong, I am only a mere person, not expert, but who is expert?



 


Green Burial

Important as the future is the past underpins and nourishes us from below.

This funeral was described by non-relatives attending as 'life changing'. It's the summary of a person, their faults and heroism and the way they have affected those speaking.


RECYCLING

Kerbside recycling is meant to spread to the whole county over June and July, In the meanwhile the magnificent own brand recycling scheme continues. Initiated by Newport Environment Group, over 300 members bring their carefully collected plastics and other materials once a month to the carpark where AJ Recycling provide a lorry (or 2) to receive the content.

Thence it goes to a picking line where it is sorted for its journey to the far East, in empty ships returning from delivering gismos and nick-nacks galore from the Asian continent to our junky market. Such is world trade. For now. Enter recession and the ground shifts again. 


Merry Wasters
The last Tuesday of the month, 5 - 7 pm is the time to bring and chuck your plastic bottles, cans and cardboard into the maw of AJ's vans.

Over 3 months over 4 tons of waste have been collected, saved from landfill. The gathering feels merry and virtuous - at how much waste we are providing for the appreciative recycling business.

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Hi, do you have any adze in the shop at the moment? thanks

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Have you or can you suggest any use for rosettes awarded at the agricultural shows please?

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Hi from Ellie at Pembs. FOE I can't make it to your Green Fair ,but will try and bring some info. about latest campaigns etc. this Friday for a display board.

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Is there an local organisation in SouthWest Wales for smallholders and allotment holders to sell excess produce from their holding for income?

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