Friday 30 November 2012

UK PM STANDS UP FOR CITY OF LONDON


Prime Minister David Cameron was defending the City of London and banks from a take-over by the EU. Mr Cameron would definitely protect the City of London and banks from being included into the European Central Bank system which will have its head office in Frankfurt.

The reason is that he is so adamant because they are his boys and contribute heavily to the economy. He does not lift a finger to stop the gas, electricity and petrol’s prices rising because these are affecting the ordinary people. Yet, the gas and electricity showed a profit of over £1.5billion last year and surely would have been more than enough to stay that way instead of increasing the tariffs by up to 10 per cent.
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So far the coalition did not show any care whatsoever towards the public. Yet, his motto was “We are all in this together” which was soon forgotten when elected and they showed their real faces.

Furthermore, when everybody went up in arms about the banks and city’s sky high bonuses and people demanded from Prime Minister, times and times again, to stop it; he kept promising it but did nothing. Yet, when OCCUPY formed and started first to camp in city but then in front of St Paul’s Cathedral in no time at all David Cameron got a law through the court that they should be removed.

Both incidents show clearly how one-sided the government is which is totally wrong. It is forgotten or just brushed aside that it is the general public voted them in and it is the general public they should represent.


Saturday 24 November 2012

CAMERON CHILLAXED TWICE AT A EU'S SUMMIT MEETING



David Cameron was caught out once before when on a Commonwealth meeting he vanished a day before the meeting was finished. There again he could and should have sorted out several points with the rest of the heads of other commonwealth countries. It was remarked upon by other leaders that the Prime Minister should have remained but where did he go? He went to a vineyard and tasted their various products.

This time, at the EU’s summit meeting where it is was most vital to achieve the best agreement on the budget for the next seven years Mr Cameron vanished twice to eat in fancy restaurants. Surely the menu of the EU summit meeting was of the best there was available.

He promised the taxpayers that he would do his utmost and will negotiate hard but after a very few hours he vanished. He went to a top restaurant called Brasserie 1898 which has specialities of a variety of Belgian beers and chateaubriand steak costing £44.50.

Just before the summit super he was gone again for a fish dinner. The final lunch was baby venison and bottles of wine costing £120 each were served. Although the other menus were not reported but judging by this one it must be assumed the other lunch and dinners couldn’t be less extravagant. Only Mr Cameron can explain the reason for him having to vanish just before each lunch and dinner was served.

Again Mr Cameron wasted and lost time for important negotiations with other European leaders in the two days crunch budget summit meeting. This costs the taxpayers hundred of thousands of pounds in which nothing was achieved. Brussels has postponed it to another meeting in the New Years which adds more expenses. They definitely know how to live it up while the public in Britain gets pushed to the financial limit and soon beyond. 

It us doubtful that he became now Holy Joe because we do not hear any more of his escapades. Mr Cameron, most probably, has the thumb on the press not to report it.


Thursday 22 November 2012

HEDGE FUND BETS


For the first time an EU ruling made sense. The EU ruled from 1 November the Financial Service Authority has to disclose any shortening by Hedge funds.

The scale of short-selling by Hedge funds has been made public for the first time. This occurs when Hedge funds bet on a company’s share price falling. As before it was a very secretive Hedge fund bet on shares falling and shorting by borrow shares and sell them hoping they can buy them back at a lower price which will give them a profit.

Another fiddle disclosed. We had the Libor scandal and hope this had been regulated now. We had the tax avoidance scandal and now the Hedge fund bets scandal.

Shares of about 150 companies are on the list of around 50 funds which were shortened.

The bets adding to hundreds of millions of pounds and right across the whole industries which include builder Barratt, online grocer Ocado, web retailer Asos, insurer Admiral, Marks & Spencer and bookmaker William Hill to name but a few.

The biggest short position in per centage of market value is fund manager David Einhorn’s Greenlight Capital against Daily Mail & General Trust.  His 4.4 per cent against DMGT amounting to £80million. DMGT is the owner of Daily Mail and Sunday Mail.

Under the new EU ruling the FSA will have to publish short positions above 0.5 per cent of a firm’s market value.

The banks and finance sector have a lot to answer for the crisis of the economy. It is high time they are going to be regulated again. It only came about after Margaret Thatcher de-regulated the banks and Finance.  The disclosure due to the new EU rules shows and proves creamed off hundreds of millions of pounds.

There again the government should have stepped in much earlier and stopped it instead of cutting ordinary people’s benefits which surely don’t add up to half of these amounts.

BUT THEY ARE THE CITY BOYS WHO SUPPORT THE CONSERVATIVE PARTY.


Wednesday 21 November 2012

BBC IN TAX DODGING SCANDAL-- Updated 15 March 2013



BBC IN LONDON, ENGLAND
UPDATE:  15 March 2013 -- Again as always the scandal was announced for a few days and then pushed aside by new news. We, the public, has not heard anything further whether the tax dodgers had been made to pay up. David Cameron gave many speeches about tax dodgers and promises he will get tough but did he with the BBC's who are on the door step. Surely it would amount to a great amount and reduce the deficit.

According to reports the BBC has 124 celebrities paid as freelancers although they worked there for years and have a show or broadcast continuously.

They using a Personal Service Company which means they are not taxed as individuals. This also includes non-payment of National Insurance by the employer as well as employee. 

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Therefore a one million income has to pay a tax of 45 per cent provided they don’t send it to a tax haven which is another story to close. In the regulation BBC promised to introduce they will have to pay 13.8 per cent national insurance or £138,000. Furthermore, the BBC will also have to pay employee national insurance and income tax. Al in all it would reduce the net payment to £430,000 which is still more than enough for one person’s income.

Can David Cameron and the government honestly and truly state they didn’t know about this? Never mind of blaming it on Labour again because by now they are long enough in to change the rules. This other point is that a payment of £138,000 national insurance and this is just from one person would have helped the NHS enormously and therefore no redundancy would not have been necessary. 

Mr Cameron and his Chancellor are too busy to cut ordinary people’s benefits and forever shouting Austerity instead of looking around where they should have the money got from. Mr Cameron also was mentioning, a few months ago, that there is a £90billion stashed away in tax havens. It is a too great amount of money lost to the country. What has he done about it?

Apparently 469 of the BBC stars using the Personal Service Company. Of course, not everyone earns a million dollars but nevertheless it is a lot of money lost to the country every year and especially to the NHS. How can they be so callous seeing the struggle because of the economy?  According to the quotation as above to receive £430,000 instead of one million is more than privileged and they should be more than pleased.

The BBC promised to look into the freelancers they use and review their employment contract. It was also said that the BBC themselves advised the freelancers to use the PSC which doesn’t show them in a better light. However, don’t take this as Gospel because it was already stated that only 131 staff will be OFFERED, not made to take, a staff contract IN THE NEAR FUTURE. Whatever that means is as good a guess as any?

Even if it comes to it a 131 staff out 469 who uses the PSC is not exactly putting wrongs to rights. They also promised not to increase the TV licence fee if or when they give staff contracts but they have already done it. The fee was increased to £145. The TV licence, so we were told, is necessary because the BBC is not running adverts but for years now they do and therefore they should have abolished the fee years ago.

All these false promises which will never be fulfilled are like David Cameron and the government apart from the promises to cut any benefits.  

Tuesday 20 November 2012

CITY TRADER -- MONEY TO WASTE

That is how Mr Cameron's and Tories' friends live while families are brought down so low they have to rely on food banks. Mr Cameron still puts on a show of concern about the "hard-working people".

A city trader spent this incredible sum of £40k in one night. He treated nine friends to a night out and partying beside a famous film star of Hollywood on the night of Halloween. An eye witness stated the he didn’t hold back the moment he saw this famous star and maybe he tried to show off at the Raffles in Chelsea’s Kings Road.

They city trader started with 10 Zombie cocktails which are made of rum, absinthe and grapefruit at £30 each.

Soon he was dancing the night away at the 230 capacity members only club. When the famous star turned up at 11pm the city trader ordered three giant bottles of vintage Dom Perignon champagne methuselahs amounting to  £24,000. After came seven bottles of vintage Dom Perignon Oenotheque 1996 adding another £3,500; two Belvedere jeroboam vodkas adding £1,640; seven glasses of Don Julio 1942 tequila adding £224; two vintage Dom Perignon Rose 2000 magnums adding £2,200; six bottles of Krug rose adding £2,400; Red Bull for £87.50; Havanna rum at £350 and finally 16 cafĂ© parton with tequila adding £160.00.

The final bill came to £34,861.40 plus £5,229.23

This is a glimpse how the city boys live and the world they live in. To spent £40k in one night without padding the eye lid while the country struggles to survive and not only the ordinary people but also the economy and the government does nothing to curb their bonuses. At the very same time David Cameron and his friends always shouting about AUSTERITY and benefits have to be cut for England’s economy to survive.

To spent this kind of money in one night they must be used to it. This only can be done with all their high salaries and top bonuses. Therefore, the prime minister and the coalition should step in where it should be done. Also the Bank of England was talking about and promised to bring in regulation of the bank and city.
This regulation had been well overdue and when the people started a movement under the name of OCCUPY they soon were removed but the government will no confront the banks and city.  It is no wonder when banks go bankrupt but then the government makes the taxpayer to step in to rescue them. Yet when it shows a profit it is soon distributed in bonuses instead of being made to pay it back to the taxpayers.

There is another broken promise of David Cameron of stopping these huge bonuses. Times and again he promised but when it came to it, it was quietly sidelined. At stage he said it takes time to do this but when Occupy launched a protest in no time he had it through the courts and they were removed. All the government’s action is certainly one-sided and not democratic.

All this mess is since Margaret Thatcher de-regulated the banking and finance system. That lady has a lot to answer for, for the shamble ever since exists and until the government does not regulate the banks and finance market there will be nothing but scandals coming up.

The scandal of the Libor but after it hit the headline we never heard anything about it and apart from one man being sacked but with a more than fat golden handshake which should have never been given. He also will receive big pension while ordinary people’s pension is getting cut.

David Cameron is certainly in this altogether and he must be smirking away at the ordinary people he keeps well down. However in the long run it will backfire in the economy when next year all the cuts will bite and the people have even less to spend. Well it also could be that the public will remember and not being swayed by more promises in the future. Time will tell.