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28 March 2008 Thought for the Week:
want to stop climate change, then we have a huge task ahead of us. We need to
stop continents moving, stop the shape of the sea floor changing, stop pulling
apart the ocean floors, stop building mountains, stop volcanoes belching out greenhouse
gases and dust, stop hot flushes of gas rising from Earth's core, stop earthquakes,
stop comets breaking up in the upper atmosphere, stop the changes in the Earth's
orbit, stop the cycles of solar changes and stop radiation hitting Earth from
IS 'THE HOUSE OF FINANCIAL CARDS' NOW TEETERING?
Jeremy Lee writes: "It is finally becoming clear enough for all to see. No longer can media commentators and economic spin merchants pretend this is merely a 'blip'. The American dollar is sliding into worthlessness. The world's oil producers are increasingly rejecting it as payment for oil. Time to think about personal survival in a world which is about to move from complacency to panic!"
Clout Sinks Worldwide:
Experts say the bleak U.S. economic forecast means it will take years for the greenback to recover its value and prestige. Negative dollar sentiment is growing in nations where the dollar was historically accepted as equal or better than local currency - and dollar aversion is even extending to some quarters in the United States. Source: http://news.yahoo.com/s/ap/20080313/ap_on_bi_ge/diving_dollar
"The Money Bomb," by James Gibbs Stewart.
DERIVATIVES, CALCULUS & OTHER SIMPLE CONCEPTS
by Mr. Mental:
Mr. Mental begins:I am Mr. Mental! Today, I wrest control of the ConspiracyPenPal web site from Edgar J. Steele. Steele, is a well-meaning but merely mortal and puny earthling. Show proper respect when you are in the presence of your betters, particularly those of us from other planets (blare of trumpets) "Mr. Mental knows all. Mr. Mental sees all."
There is much to-do and consternation afoot in the land today concerning financial derivatives. Many of you do not understand derivatives, foremost among you being the Federal Reserve Chairman, the US Treasury Secretary and virtually all of those of you who buy, sell and manage that which you miserable, insignificant human beings like to call sophisticated financial instruments.
This is too easy. It would be far better if you mere mortals called upon Mr. Mental to explain complicated and important affairs, such as the mystery of the teenage female mind or the ultimate origin of the Universe, the latter of which is surprisingly close to Cleveland. Derivatives! I laugh at the concept: Ha.
The area beneath that curve represents the total number of people living in America while the Hero of Chappaquiddick did his best to destroy America. (If only he had shown as much concern for pulling a pregnant Mary Jo Kopechne from the murky waters of that channel now known as Poucha Pond as he shows for pulling millions of pregnant mestizos from the waters of the Rio Grande.)
One employs formulas (functions) to calculate the area beneath a curve. This is analogous to using a tool (which is all a function really is) called a yardstick to measure the size of a room. That's it. Now you understand calculus.
If only you could have attended the Grand Galactic University of Antares, as did I, you would have learned calculus in one day and spent the rest of the semester chasing girls and drinking beer, which is the proper activity of healthy, college-age males throughout the Universe.
for Something Completely Derivative:
On the other hand, if Ted Kennedy, who favours abortion for as many White babies as possible, had been aborted in his 139th trimester, as was his brother, a man who, unlike Ted, got plenty of oxygen while in the womb, the American population growth curve might actually show an ever-decreasing rate of change, the natural result of honouring the price paid by those who died for nothing at the Alamo (not to mention divers wars such as Revolution I, WWI, WWII, the War of Northern Aggression and WWIII, which now is underway on the other side of the world).
Pay attention, you slovenly, misbegotten humans, because these are pearls being cast at your feet!
Thus, a derivative calculation of population in a Ted-Kennedyless America might well be an ever-increasing negative. Extending the yardstick analogy, a derivative is a tool that describes a tool. Put a yardstick in the hands of a newly-immigrated Somali in downtown Cincinnati and he likely will try to eat it. The all-powerful Mr. Mental has blessed you, however, with the understanding (a tool) to employ another tool (like a yardstick).
Science is rife with this business of using one tool to manipulate and understand other tools. In maths, they are called derivatives, of course, because they depend upon something else (calculus) in order to have meaning - their significance is derived from another thing. Then there are Second Derivatives (simply the rate of change of a rate of change), which allow one to understand First Derivatives, which in their turn allow one to understand the integral calculus of a graphical representation (a curve) of reality. And Third Derivatives ... and so on.
See? This stuff isn't so hard. Now you understand mathematical derivatives, the concept from which financial derivatives get their name. This leaves lots of time to play hide the shuttlecraft in the free-floating asteroids of the Antarean cluster. GGUA is not known as the ultimate party school for nothing.
and Other Worthless Concepts:
Stocks and bonds are derivatives, strictly speaking, because they derive their values from something else. Mutual funds are derivatives of derivatives, kind of like mathematical second derivatives. Options and futures are even more distantly-removed derivatives. Puts, calls, strips, straps and straddles are even more arcane forms of even more distantly-removed stock market derivatives.
During the height of the mutual fund boom there were far more mutual funds trading in equity stocks than equity stocks being traded, oddly enough, in a very junior-league illustration of the relationship of financial derivatives to their underlying assets of inherent value.
Derivatives of Derivatives of Derivatives:
Your home mortgage is a derivative, too, because its value in your lender's hands derives from the ever-decreasing inherent value of your home, which is why bankers' hands these days are so sweaty. Really clever bankers bundled hundreds of mortgages just like yours into large packages, then sold claims upon those packages (another derivative known as a "collateralized debt obligation," or CDO) to other investors (like your pension fund), kind of like raffle tickets. The real similarity will come after the raffle ends, when a great many of the buyers of CDOs find that, rather than playing musical chairs, they really have been playing musical chair.
Unwinding Derivatives: Look Out Below:
Now, whole swathes of neighbourhoods lie vacant in cities like Detroit and Cleveland, which today look like something straight out of Zimbabwe, speaking of dollars with value only in the outhouse.
Picture the most massive iceberg ever, with just its bare tip glistening above the waves. Now, flip that iceberg upside down, so that just the tip is in the water. That's what derivatives would look like if piled atop the real assets to which they ultimately relate.
Like the iceberg, as the tiny nucleus of real value begins to melt, huge sheets of icy debt come crashing down, having lost their bases of support. That is what is happening in the world today. And it only has just begun, you poor, dumb earth creatures.
Bwa-ha-ha-ha-haa! We had this problem
on Antares in our distant past, but we solved it by stringing up all the politicians,
bankers and plutocrats responsible for stealing from us that which we had earned
by the sweat of our brow. You will wish you had done the same, you poor, misguided
and unenlightened bipeds. But, at least, now you understand how they did it to
you, because you understand derivatives. And, with that, I return control of this
space to your merely human host. New America. An idea whose time has come. My
name is Edgar J. Steele. Thanks for listening.
** Many Americans believe their problems will be solved if their governments return to a 'gold-backed' money system. We suggest they would do better to become informed about the mysteries of Mammon. A nation's true wealth depends on its productive capacity not on how many inert gold bars sit in Fort Knox!
THE MYSTERIES OF MAMMON (MONEY)
VIDEO and/or DVD viewing:
DVDs: From Heritage Book Services, P.O. Box 27, Happy Valley S.A. 5159.
TO THE NEW ZEALAND PRESS:
WHAT DIFFERENCE DOES 2% REALLY MAKE?
MAKE THEIR HOMES AND JOBS 'OPEN BORDERS'
Untold riches to the global financial elites, but not to workers in developed
countries who will compete with the third World for basic survival. For example,
recent article in The Australian (28/2/08 p.1) has the title "Immigrants
Beating Locals to New Jobs". Migrants took over half of the alleged 240,000 full-time
jobs created over the last twelve months.
That is the future that the globalists plan, where everybody, except them, is equal at the bottom. Would such academics preach so if their homes were "open borders" and their jobs subject to replacement by cheaper workers?
FROM THE UK: THE GREAT EU BETRAYAL:
British will never trust those who deceive them, insists William Rees-Mogg.
The constitutional treaty was subsequently reconstructed and became the Lisbon treaty, which contains more than 95 per cent of the same material. Valéry Giscard d'Estaing, a former President of France, described the process: "Public opinion will be led to adopt, without knowing it, the proposals that we dare not present to them directly . . . all the earlier proposals will be in the new text, but will be hidden and disguised in some way." That is what actually was done.
The Government soon recognised that this process had not succeeded in deceiving public opinion. Opinion polls showed that a referendum on the Lisbon treaty would be defeated. The Government therefore decided to break the referendum commitment that had helped it to win the election.
It used an argument, which very few people believed, that the Lisbon treaty was different from the constitutional treaty and did not therefore need a referendum. In the debate in the House of Commons last Wednesday Kenneth Clarke, the leading Conservative Europhile, cut this down to size.
He intervened in David Miliband's lightweight justification of the Government's breach of promise. "Will he stop all this nonsense about [the treaty] being different from the constitution when it is plainly the same in substance?" The Government cannot afford to admit that the two treaties are substantially the same, because it would then have no excuse for breaking its commitment. It has to lie about the two treaties because that is the fig leaf to cover a deeper deceit.
last week the results of an independent mini-referendum were published. There
have been votes in ten marginal seats, eight of which are held by Labour and two
by Liberal Democrats. The results supported the findings of recent opinion polls
but were based on a much larger number of responses. In all, 152,520 people returned
the ballots, a 36 per cent turnout that compares favourably with many local government
In total 87.9 per cent of voters wanted a referendum and 88.8 per cent would vote "no" to the treaty. The results in different constituencies were surprisingly similar, though Hammersmith fell outside the pattern. We had a referendum in Somerset and Frome. The turnout was identical with the average at 36.2 per cent, while 87.9 per cent would vote "no" to Lisbon.
regions produced similar results. There can be no real doubt about public opinion;
British voters are increasingly critical of the EU. In the House of Commons the
argument was used that the public could not be expected to understand the complexities
of the Lisbon treaty. If that were so, the Labour Party should not have promised
a referendum in the first place. In any case, these
are the traditional arguments against trial by jury, which the British trust.
Juries know the difference between guilt and innocence; voters understand their
The Commons voted against a referendum by 311 to 247. There were some Labour rebels and a handful of Tories voted with the Government. The Lib Dems adopted that cringing device, a three-line whip, to abstain. They also had rebels. The result is a direct conflict between the public and the parliamentarians, a conflict made worse by more than 300 Members of Parliament breaking their election commitments. How can we trust such people?
This is bad for Parliament, but worse for the future of Europe. Most Eurosceptics want Europe to be reformed, not destroyed. How ever much it may annoy the Eurofanatics, they are the "good Europeans" who have Europe's long-term interest at heart. No political society survives without trust. British voters believe that they have been deceived about the Lisbon treaty, a promise has been broken, and the breach justified by lies. If the EU cannot trust the people, the people cannot trust the EU
LETTER TO A POLITICAL REPRESENTATIVE
To The Hon. Jack Snelling: 9th March 2008.
am writing, better late than never, in response to the P.M. Kevin Rudd's apology
to the "Stolen Generation." While Kevin Rudd has stated that after the apology
there will be no financial compensation, we note however that this apology is
"the first step
" What did he mean?
- - Yours sincerely, Doug and Jean Holmes, Para Hills West, South Australia.
|© Published by the Australian League of Rights, P.O. Box 27 Happy Valley, SA 5159|