Tuesday, 26 July 2011

Who ate all the pies

I am on a number of internet mailing list including one from the US from the institute of Public Finance, there is a link to their web site in my Gravatar.


Anyway I got an e-mail today with a reading Group summary of a current study book and a summary of key points from Ellen Browns book Web of debt.

I have been chewing over the notions of Perceptions and realities the past few weeks and particularly the idea of Happiness and contentment. Perceptions it seems to be are groomed in us through modern marketing which has a very particular narrative even from the alternative side of the tracks take Quorn and Vegitarianism for instance.
We try to over complicate or overstate and we try to elevate and objectify to distinguish and almost deify we strive to become branded by belonging in an associsiation with the bling and and the branded and pristine and the soundbite slogan Colgate Ring of confidence ( Sleepers Awake ) Blackhorses gallopping into the Green Pastures of a confident future.

Being and Knowing and sharing and doing with each other and for each other is what provides us with our real contented times in life. Showing off the Show and Tell mentality of the corporate Branded this brand of soap is the panacea of all your ills, see what a posh box it comes in. The Value added is in the Packaging but there is no intrinsic value in the Packaging the Brand is the most elevated form of this kind of emperors new clothes economics.

And So to Money, what is it, we all think we know what it is and we all think we think we all think the same thing about what it is , its a silly question itś obvious isn't it. Well collectively we are all wrong in our perception of what money is and what function it was invented to perform as a service to our commerce. Remember that History is always written by the Victors at least at first. Money should allow for the creation of credit to facilitate the exchange of goods over time the creation of and trading of debt as a commodity is a quite different thing and to tie the money Supply and creation of money to the creation of debt by private Banks is a particularly stupid thing for a society to do and yet that is what we have allowed to happen again. Its happened lots of times before and had to be reformed 2007 was another time when it should have been reformed but those two puffed up egos Blair and Brown and their cronies are simply not of the Stature of great figures in history who truly understood the nature of the Political economy of nations and the natural choice was lost to us as a society, the opportunity remains to make necessary reforms reading groups on the areas set out in this e-mail I recieved should assist us in our collective goal of prosperity for all.

Here is a schedule we can follow for our second book, Agenda for a New
> Economy-- from Phantom Wealth to Real Wealth (be sure to get the 2nd
> Edition), by David C. Korten.
> Van Jones says, "Korten turns conventional economic thinking upside down and
> inside out.  This book reveals what is really going on in the U.S. and
> global economy--and what can and should be done about it."
> Author of Confession of an Economic Hit Man, John Perkins, says the book
> "outlines the real cause of-- and solutions to-- the current economic
> crisis."
> We began our study group with The Web of Debt by Ellen Brown, see key points
> below.
> Results from our reading may include writing letters to the editor that
> educate our fellow citizens, and supporting the creation of a California
> state bank.
> We meet on Wednesday evenings
> 7:30 p.m. to 8:30 (or 9)
> Village Green Community Room
> 350 Robin Street (at 3rd Street West, south of Pharmaca)
> July 27 --  The Case for a New  Economy
>       Chapter 2, The Sport of Money Making
>       Chapter 3, A Real-Market Alternative
> August 3 --  The Case for Replacing Wall Street
>     Chapter 4, More Thank Tinkering at the Margins
>     Chapter 5, What Wall Street Really Wants
> August 10 -- Replacing Wall Street cont.
>      Chapter 6, Buccaneers and Privateers
>      Chapter 7, The High Cost of Phantom Wealth
> For more information, contact Lauren at 939-9999 or Lauren.Sonoma@gmail.com
> A dollar lent at 6 percent interest, compounded annually, becomes 10 dollars
> in 40 years.  That means that if the money supply were 100 percent gold, and
> if bankers lent out 10 percent of it at 6 percent interest compounded
> annually (continually rolling over principal and interest into new loans),
> in 40 years the bankers would own all the gold. To avoid that result, either
> the money supply needs to be able to expand, which means allowing fiat money
> [such as Abraham Lincoln’s Greenbacks], or interest needs to be banned as it
> was in the Middle Ages.
> -- Ch. 37 of Web of Debt
> http://webofdebt.wordpress.com/chapter-37-goldbugs-and-greenbackers-debate/
> ==============================
> 4 articles of interest:
> http://open.salon.com/blog/libbyliberalnyc/2011/02/21/can_kucinich_drive_a_stake_thru_the_zombie_heart_of_the_fed
> February 21, 2011
> Can Kucinich Drive a Stake thru the Zombie Heart of the Fed?
> Kucinich explains http://kucinich.house.gov/UploadedFiles/NEED_ACT.pdf:
> Banks pyramided their value by spending money into existence, greatly
> inflating the value of bank holdings, inflating the value of their asset
> bases, enticing unknowing investors to participate in financing schemes like
> the bundling of subprime mortgages, and ultimately bringing undercapitalized
> banks and the entire financial system to the edge of ruin, creating
> circumstances where the taxpayers of  the United States were called upon to
> save the banks from their own imprudent money-issuing practices, misspending
> and mis-investments. The banks’ ability to create money out of nothing
> ultimately became the taxpayers’ liability, and raises a fundamental
> question about a practice of money creation which threatens the wealth of
> the American people.
> Robert Malin wrote: “Rather than paying rent for our currency we could use
> the [freed up] funds to invest in technology, education and the general well
> being of the country providing the basis for a safe and sustainable future.”
> Section 24 of the bill:  Reclaiming the power of the Federal Government to
> create money, and to spend or lend money into circulation as needed,
> eliminates the need to treat money as a Federal liability or to pay interest
> charges on the Nation’s money supply to financial institutions; it also
> renders unnecessary the undue influence of private financial institutions
> over public policy.
> ==============================================
> http://thedailybell.com/printerVersion.cfm?id=1684
> Ellen Brown’s concise description of our flawed financial system:
> Contrary to popular belief, banks do not lend their own money or their
> depositors' money; they create new money on their books every time they make
> a loan.
> I think lending is a much more natural and efficient way to get new money
> into the money supply than to have an independent body trying to dictate
> what the economy needs. But private banking institutions have proven they
> cannot be trusted with this powerful tool. Except for coins, which are a
> very marginal part of the money supply, all money today is just credit – the
> credit of the people. This function should be a public utility, administered
> through publicly-owned banks.
> The power to create money has been usurped by a private international
> banking cartel, which issues our money as debt and lends it back to us at
> interest.
> The cartel makes it appear that governments are creating our money, and
> governments get blamed when things go wrong; but they are actually just
> pawns of the cartel.  We the people can get back our government and our
> republic only by reclaiming the power to create our own money.  We can use
> the same credit system that private banks use, but administered as a public
> utility, monitored and overseen by public servants on the model of libraries
> and courts.  To be a sustainable system, profits need to be returned to the
> community rather than siphoned off into private coffers.
> The flip side of debt is credit, which is a very good thing.  Inventing
> credit is probably the most innovative thing bankers ever did. But because
> the Italian bankers who first came up with that scheme were on a gold-based
> system, they had to do it essentially by cheating, pretending to have more
> money than they actually had.  There would be periodic runs on the banks and
> the system would collapse.  A public banking system would acknowledge credit
> to be just a legal agreement to pay over time. Creditworthy borrowers would
> get credit.  Their access to credit needn't be contingent on someone else's
> agreement to give it up.  The system would be mathematically sustainable.
> Government is necessary to have a free market. Otherwise you have the law of
> the jungle, the exploitation of the weak by the strong.
> Government provides: National highway systems, bridges, waterways, dams,
> FDIC insurance, Medicare and social security, to name a few. If you doubt
> the latter two, consider what life was like in the depression of the 1890s,
> when there was no Medicare or social security, and people froze in the
> fields or starved. My grandmother, for whom I was named, died in Detroit
> during the Great Depression at age 42, trying to self-abort her eighth
> child, at a time when my grandfather was an unemployed auto worker and they
> could barely feed the other seven. My father was the oldest child and
> supported the family on a paper route. He never really recovered from that
> traumatic period. I suspect he is hovering about and prodding me on.
> Government sets the rules and provides a protective umbrella under which
> individual human endeavor can bear fruit.
> [The Tea Party opposes this role for government.]  Dr. North said in an
> email that I was a threat to the Tea Party movement, that his intent was to
> destroy me, and that there would be no compromise.
> The Pennsylvania colonial bank, America's first publicly-owned bank, is an
> excellent model.  The bank was established by the Quakers, who came from
> England.  Franklin saw how well it worked and wrote about it in glowing
> terms.
> ===============================================
> http://www.commerce.nd.gov/news/detail.asp?newsID=644
> The Bank of North Dakota Is Thriving During Downturn
> AssociatedPress.com, Posted on 2/16/2010
> The Bank of North Dakota serves as an economic development agency and
> "banker's bank" that lessens the loan risks of private banks and helps them
> finance larger projects. It offers cheap loans to farmers, students and
> businesses. The bank had almost $4 billion in assets and a $2.67 billion
> loan portfolio at the end of last year, according to its most recent
> quarterly financial report. It made $58.1 million in profits in 2009,
> setting a record for the sixth straight year. During the last decade, the
> bank funneled almost $300 million in profits to North Dakota's treasury.
> The bank has the advantage of being the repository for most state funds,
> which can be used for loans and occasional relief for private banks that
> need a jolt of cash during sluggish credit markets. "We think of ourselves
> as kind of a little mini-Federal Reserve," Hardmeyer said. The state earns
> roughly 0.25 percent less interest than state agencies would get from a
> commercial institution. The bank also pays no state or federal taxes and has
> no deposit insurance; North Dakota taxpayers are on the hook for any losses.
> ==========================================
> http://www.chrismartenson.com/forum/national-debt-money-supply/42738
> National Bank Act of 1863
> "From this point on the entire US money supply would be created out of debt
> by bankers buying US government bonds and issuing them from reserves for
> bank notes...In numerous years following the [Civil] war, the Federal
> Government ran a heavy surplus. It could not (however) pay off its debt,
> retire its securities, because to do so meant there would be no bonds to
> back the national bank notes. To pay off the debt was to destroy the money
> supply."  - John Kenneth Galbraith
> After the National Bank Act of 1863 took effect, the international bank
> cartel made the national debt the basis of our money supply.  Lincoln won
> the Civil War but lost the nation's financial sovereignty.  Later, Secretary
> of the Treasury Salmon P. Chase said "My agency in promoting the passage of
> the National Banking Act was the greatest financial mistake in my life. It
> has built up a monopoly which affects every interest in the country."
> ===================================================
> Excerpts from Web of Debt:
> But the real shortage, as Benjamin Franklin explained to his English
> listeners in the eighteenth century, is in the medium of exchange.  If
> sufficient money could be made available to develop alternative sources of
> energy, alternative means of extracting water from the environment, and more
> efficient ways of growing food, there could be abundance for all.  The
> notion that the government could simply print the money it needs is
> considered unrealistically utopian and inflationary; yet banks create money
> all the time.  The chief reason the U.S. government can’t do it is that a
> private banking cartel already has a monopoly on the practice. p.341 of Web
> of Dept
> A dollar accruing interest at 5 percent, compounded annually, becomes two
> dollars in about 14 years.  At that rate, banks siphon off as much in
> interest every 14 years as there was money in the entire world 14 years
> earlier.  The real cause of global scarcity:  somebody is paying interest on
> most of the money in the world all of the time.  p.342 of Web of Debt
> =======================================
> http://www.thedailybell.com/printerVersion.cfm?id=1635
> Stephen Zarlenga has been toiling arduously in the sovereign money pits,
> convinced, like Ellen Brown, that if the US government itself prints
> fiat-money that the problems of the day will gradually fade and prosperity
> will reign once more. The Kucinich bill calls for the Treasury to take over
> the functions of the Federal Reserve and basically issue debt-free money.
> In an email sent out on the 18th of December, Zarlenga celebrates [the
> Kucinich bill] NEED as follows: "While the bill focuses on our unemployment
> crisis, the remedy proposed contains all the essential monetary measures
> being proposed by the American Monetary Institute in the American Monetary
> Act. These are what decades of research and centuries of experience have
> shown to be necessary to end the economic crisis in a just and sustainable
> way, and place the U.S. money system under our constitutional checks and
> balances. Yes it can be done!"
> -----------------------
> Lauren Ayers
> 707  939-9999


Monday, 25 July 2011

Linux, And how it works, How it works!



Re: Linux. How it works.

Postby RogergLewis on Mon Jul 25, 2011 8:17 am
Greta Thread this,

I have been recording my trials and tribulations getting Linux to work on my Acer Aspire one Net book with upgrade Ram of 2GB and an external Soundblaster sound card.

I hav'de Reaper and amplitube live installed on windows 7 on this machine previously and the machine kept crashing the drives the CPU,s were running at Meltdown and playing hard and live was just not possible.

I experimented with Linux at the beginning of the year but went for the easy route with Windows 7 previously this netbook came with XP installed and I basically broke that, windows Blue screens and eventually a complete unrebootable mess. I installed windows 7 from scratch and then also with VMware had a bunch of virtual machines running inside my Imac which is 5 years old or so with one of the first intel chips used in Macs.

I use Logic in the I mac and run several of the Amplitubes especially Fender Amplitube and ARC for my hoe studio, when travelling I wanted a workable DAW on my net book and after being away from my mac for nearly 2 months I have a stable and working DAW on my Netbook.

Full story of process of Net book conversion here.


It has been a learning curve and Pulse Audio has been a difficulty which endures as to get skype working I tried a few fixes which revlve around this fix.


2. Ensure you have the necessary PulseAudio libraries and configuration utilities installed:

$ sudo apt-get install libasound2-plugins padevchooser libsdl1.2debian-pulseaudio

3. Ensure the evil "libflashsupport" library is not installed:

$ sudo apt-get remove --purge libflashsupport flashplugin-nonfree-extrasound

Note: If you are greeted with the error "Connection failed: Connection refused", manually launch PulseAudio before opening the PulseAudio Volume Control application:

$ pulseaudio & pavucontrol

6. Ensure that your sound card's PCM mixer is not muted or set to 0% volume (this appears to be a common bug in Intrepid and Jaunty):


$ alsamixer -Dhw

Note: When the PulseAudio ALSA plugins are active, you must explicitly specify your hardware device in alsamixer (marked in blue above), otherwise it will open the PulseAudio mixer.

I have now discovered the wonderfull world of open source plug ins I have delved into it breifly in the past having read an article about the top ten amp modeling solutions but this process has led me to a different perspective as to what the Plugin world is all about and where it is happening yesterday I downloaded a fantastic TS808 plug in which I will demo at aome point but is is brilliant and has great graphics as well.

Still left with the final challenge of Getting Reaper to talk to Jackct and get my latency down Iḿ no more than a few mouse clicks away but the clicks are not obvious ones. I found a great article about setting up computers for optimal Live useage of Pluguins and Daws etc so will have another look in there. The same Article or Foru'm thread also pointed me to a lot of Plug in stuff.

Reaper also can be used in wdm or directsound modes, from its audio device preferences. Don't select jackd in winecfg when using reaper, choose alsa, and wine and wineasio should
probably both be installed by synaptic, or both compiled, but not a blend. regsvr32 wineasio.dll command must be run after installing wineasio. Wineasio must be selected in the Device preferences in Reaper, and jackd must be active...all apps run by the same user...

yada yada...no wonder analog is alive and well :)

http://ubuntuforums.org/archive/index.p ... 23404.html


I have been blogging my experience between the Cuckos thread and a private guitar Club forum which I am a member of as The whole Linux concept is very exciting to me and I wanted to keep track of my experience to help streamline the conversion for others.

I still do not have Jack working with Reaper and suffer the latency effects of that but I am confident that I will have that cracked within the next few days.

The Linreaper installer is brilliant and the Lin reaper options loader that downloads with it took me a while to figure out.

At the moment I am using the direct sound set up and not the Wine Wineasio audio option as I can not get it hooked up with Jack as yet.

I have found that the solutions when I find them are easy to implement but the difference makes the process less intuitive for Windows uses ( those that remember and had and retain the facility for Dos, will enjoy the registry as rusk says.

I am a newly popped cherry as far as Linux goes but my experience has been very good and the system I have on this Netbook is a much better one than the windows 7 and windows XP one before it and I can do all the same things. The Native linux sound apps like guitarix and rackarack are brilliant. I am yet to teach myself how to use Ardour but it looks like it will be fun and am looking forward to playing with hydrogen.

As a non programmer but with quite a lot of experience with Logic and the commercial modelling software I have got this netbook up and running I will do a general checklist, bullet point from first to last and demo screen capture once I have the Jack issue nailed. It can be done and I would suggest patience.

I started with the new Ubuntu 11.4 then did the upgrade download through the registry for Ubuntu Studio which is brilliant and more windows like so faster for me to clic'k around in. I am now going to have a look at the upgrade to KXstudio.

My next task is to see if I can interface with my media smart server, it works with my I am at home but I have not as yet managed to log onto it which I will want to do for my Music and video film collection is on there and I need to be able to access it
which as yet I haven't managed . I'm back home to my Mac on Wednesday so should be able to get that all working of the install disc for the server which I don have with me.

I am very pleased with my new Linux based system.
A long first post Iḿ afraid but hoepfully my experience will be an encouragement and help to those interested in doing the Linux Thang!
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Joined: Mon Jul 25, 2011 7:01 am

Saturday, 16 July 2011

Crossroads, Linux, legacy Blues.

I have changed my Net book to a Linux operating Systemm called Obuntu. I have been very impressed with the DAW Reaper but found that windows 7 just used to much processing power. Getting Stealth Plug to run in linux is proving a challenge 2 days in and still not finished but the
possibilities look promising.
I decided to do this as the Amp models in Reaper are very good including a Dumble overdrive and a JTM45 the JTM 45 is fantastic. Anyway I stopped for a bit of noodling plugged straight into the MGFX15 it is a fantastic little amp, They are very popular in studios particularly with the Metal crowd,
Chris Dude reckons they are the best thing to get your Pinched Harmonics working.
Anyway I uploaded this from a Linux based video player and picture editor. 3 tunes Romeo and Juliet, I have stuck with the open tuning I prefer the harmonies that way even though the original is in open g with the Capo its much easier to play that way but I prefer the freedon'm of open tuning for my own purposes.


I have been studying Howerd Morgens lessons on chord inversions for 18 months now and have really got a feel for his approach to CHord Melody Voice leading, This simple progression in D from Danny Boy is the basis as Howerd points out for a thousand standard Gaelic Folk Ballads the Harmonies are beautiful within Howerds voicings of the chords and slowly but surely I am beginning to think in terms of intervals and individual notes to play next whether to play them together or individually and whether I want a Chord  and Arpeggios or a single note scale approach. For me Howerds series of True Fire Videos  defined the moment that I decided to enter the Wood shed and re learn my whole approach to the fretboard Wanting to be abole to play this tune and improvise within it was my inspiration and motivation to do what I have been doing with my own Guitar Journey so this piece has a deep meaning for me at several levels, quite apart from the fact that I have always loved the Song itself.



I have written a song which I posted a Lyric to my blog and I have been messing about with musical themes waiting for the music and lyric to come together in my mind as I play, maybe it was trying to come out with this piece I started to follow through on yesterday. I got a blues tone and some reverb to my own tastes and found a chimey bell like chord with a finger picked claw hammer approach and did 12 strikes of the Bell and in my mind it was Midnight and downs at the Crossroads by a hotel there were souls for sale. Anyway it takes a while for the music and lyrics to come together for me and I enjoy learning things along the way and then hearing things that bring other stuff to mind.

Back to my computer labours.

Thursday, 14 July 2011

AN Unholy and un mitigated Mess.

In the mad hatters tea party that is Cameron World I find that it is now possible to be depressed and manic at the same time without the aid of artificial stimulants of any sort. My panacea for the Nations mental health Prescribe a MAC any Mac but not a Big MAc, the OSX variety, of Mr Jobs variety. Alternatively  Linux.
I intalled a linux system that can run alongside windows called Jollicloud yesterday and it runs very well on this puny Net book I couldn't get wine the interface that allows windows based programmes to run on Linux systems but will keep trying and have been playing with ubuntu as well. Windows is very bad for mental health and time wasting, Linux or Mac, its the way forward to a freer better world and democracy.

That and This.


This part of the unholy mess has kind of become eclipsed in my reading of the soveriegn debt crisis which of course is its first cousin if not sibling.

My own focus on these matters has 3 interesting and conflicting drivers.

1. Extracting capital from my old home in the UK, ( a large Country Estate ) now with a complex geography of Debt and potential litigation ( having been sold short by one of my Banking partners).
2. Pursuing my future business ideas that were not encouraged by restrictive Planning regimes in the UK against alternative self provisioning\ self sufficiency ecologically based business. I am presently researching setting up a Hemp Farming cooperative here in Sweden. Encouraged by models such as Sequential Bio Fuels of Oregan.( See my Way forward Blog.)

3. Pursuing my true Academic and Artistic Passion for Music and the Electric Guitar. Signal Processing and Guitar Electronics and amplification strangely  my muse of the 6 strings and now Hexaphonic Pickup and Digital Signal processing capabilities tie in with my alternative energies interests particularly turbine technology and electromagnetism.

The financial Crisis is stopping my entrepreneurial endeavors I am sure this is an age old problem and one that exists for many others at the current time. I am a creative and inventive person and this crisis is preventing me from Creating wealth for the community ( my endeavors used to be purely motivated by personal profit, I now take inspiration from the example of Robert Owen,( my fellow Welsh man.) . Banking and its greed has a lot to be held accountable for.

Oh and did I remember to mention that David Cameron and Liam fox are war criminals and should be arrested and sent to the Hague for crimes against the Libyan people.

Sunday, 10 July 2011

Democracy 2011

Democracy 2011 

Pontificate, Certificate, Defecate.
Agitate, Aggregate,, Obviscate.
Repudiate, Obviate,Opiate,
Satiate Fascist Hate


Pontious Pilate, Judas Kiss
Politics of envy, Divide and Rule
3 legged Milking Stool
Mushroom Clouded vision
Dark Room
No Hope
Fed Shite

Ponzi State, Economic Bubble
Death of Ethics, No Spiritual Revolution
Satanic Absolution, Hypocritical Contortion.
Legalised Extortion.

Keep in Unstable , Wear your skin like Sable
3 legged stools and uphill tables
Tables turned and loyalties spurned
Dark Room, No hope , Fed SHITE!



I have  become increasingly indignant and the past few weeks I have been giving in to rage
and yesterday ANGER. I had to let it out and just wrote down the words above.
I then  spoke them into my Camera and sang a few songs I scribbled the words in pencil on the back of a song I have been learning I  couldn't find my Note pad. The Song was RAT TRAP by the boomtown rats.

I then did a top of the head bit of 4 and 20 by stephen stills.


Four and twenty years ago, I come into this life,
the song of a woman and a man who lived in strife.
He was tired of being poor and he wasn't into selling door to door
and he worked like the devil to be more.

A different kind of poverty now upsets me so.
Night after sleepless night, I walk the floor and I want to know- why am I so alone?
Where is my woman can I bring her home? Have I driven her away? Is she gone?

Morning comes to sunrise and I'm driven to my bed.
I see that it is empty and there's devils in my head.
I embrace the many colored beast. I grow weary of the torment, can there be no peace?
And I find myself just wishing that my life would simply cease. 

A bit of a rendition of Oh Well by Peter Green which I could not remember a single word of, apart from Oh Well.

I can't help about the shape I'm in
I can't sing, I ain't pretty and my legs are thin
But don't ask me what I think of you
I might not give the answer that you want me to

Oh well

Now, when I talked to God I knew he'd understand
He said, "Stick by my side and I'll be your guiding hand
But don't ask me what I think of you
I might not give the answer that you want me to"

Oh well

I wrote this one a few weeks ago and didn't have the lyrics I'd written down otherwise I would have liked to just sing it in the state of mind I was in yesterday, somehow I don't think the anger is going away the challenge is to channel it towards a positive goal to confront some of the issues that have given rise to the feeling. Its probably true that a lot of the Anger is directed at myself feeling stupid , ripped off and otherwise lamenting some of the luxuries that really do not matter. A freshly mowed meadow did bring back some very stark realisations about Kleptocracy.

 Hotel on the Crossroads.( delta shuffle after Kindhearted  woman and Crossroads Blues) 

By A Crossroads, Do a Deal
In a Hotel every Year
Low Down Devils, Buy and Sell Your souls
Devils all an oath they swear.

Every Man Woman and child
Raised to the altar of Sacrifice

By a Crossroads , buy and sell your soul
Every Man Woman and Child
Raised to the altar of sacrifice
Got me a mind to stop them throwin the Dice

Businessmen gonna sell your soul
Politicians Gonna sell your soul
Corporations gonna sell your soul
Gonna sell your soul

By a Crossroads , buy and sell your soul
Every Man Woman and Child
Raised to the altar of sacrifice
Got me a mind to stop them throwin the Dice

 I believe that there are lies damned lies and statistics. We are all lying in a Procrustian Bed of nails constructed by Politicians and Offices of Official Statistics. The Prudent and responsible take an almost Monastic vow and the Politicians ,Corporations and statisticians take a Stochastic Vow of imprudence with everyone elses money.
The Banks should have been given short shrift in 2007 and their Shareholders forced to recapitalise from thier own funds the double standards in all of this are staggering. The Greeks should refuse to let their government sell them out and force the hands of the Global Corporate kleptocrats.

Arek, if you are interested in another point of view this is a very interesting piece which has garnered a lot of support around the internet.
In Libya your words about Rich Elites ring very untrue Ellen Brown is a good point to start with something other than the Corporate Government Line.

 The Problem is quite simply a broken Banking Model Debt Based Fiat Money
pegged to the petro dollar. As long as money has no intrinsic touchstone
for the banks and they feel that the normal laws of business do not apply
to them all other talk is pointless. Corrupt Banks and Corrupt Governments
are scapegoating hapless citizens. Mervyn King I believed has told it how
it is the Banks should have been taken down in 2007 2008 all of this stems
from that basic let off.

1. interesting Blogs the IMF should be in the Dock not chief inquisitor and
Judge.The idea that the IMF is some sort of force for good and voice of
reason and prudence is absurd.

Golem XIV - Thoughts: Truth, Threats and the IMF

Golem XIV - Thoughts: The Killing Fields

Mish's Global Economic Trend Analysis: Unions vs. Banks: Reader Question
Regarding Greek Privatizati

What should the IMF, ECB and EC do about Greece?'

Follow whole discussion clicking the link.