Brown / Darling plan to get banks to lend is simply doomed to failure.

Gordon Brown a Scotsman , widely described as Prime Minister and First Lord of the Treasury told Andrew Marr on TV this morning ...

'The first thing we're thinking about is how we as a Government can help the flow of money to businesses, how we can get the banks doing what they said they would do after the recapitalisation, and that is maintaining the level of funding for small businesses and mortgages that happened in 2007, which was a very high year.

Over on BBC4 his Mr Darling another Scotsman spoke to the World this Weekend" and said

'When I announced our original plans in October, I said it would be necessary for us to continue to take whatever measures were necessary to ensure that we get lending in the system. Over the next few weeks we will continue to discuss with banks what further steps we can take that would help lending, particularly to small and medium-sized businesses.

'We have got to make sure these banks are strong enough in the first place - in other words, to help that recapitalisation process....we also have to ensure there is enough money in the system so that businesses and people looking for mortgages can get the money.

This gormless pair of twats, and their advisers, the double firsts from Oxbridge crowding the corridors of Threadneedle Street and jostling the elbows of Mervyn King fail totally to understand how , what economists like to call SME's (small and medium sized businesses) are financed.

Most (but not all ) manufacturing and trading concerns have limited liability, that is the shareholders have limited the liability to their creditors by the amount of issued and full paid up capital.

So if a company has 100 £1 shares issued it's ultimate liability is £100.

There are (ish) some 1Million Limited Liability companies in the UK (inc Wales, Scotland and NI) . Say only half are active. Of those, any bank manager , accountant, insolvency expert will tell you without hesistation that at least half are hugely undercapitalised.

Indeed this is the curse of industry.

So how do they survive. Well principally by the skin of their teeth.

The capital base of a typical small business say up to £5 MN turnover is.

1. Share capital. When the business started (probably not by a businessman but a couple of people with a bright idea, little money and lots of energy) they set up / purchased an off the shelf a company, changed the name and issued two fully paid up shares of £100. Even Erinys the curious and secretive security company that has picked up major multi million pound MOD contracts in Iraq (and was involved in the balonium scare through their contacts with UK citizen Mr Berezovsky) has only £100 of capital and 2 fully paid up shares.

2. Working capital would be ;

A.Personal savings lent to the company as a Director's loan. There may also be loans from wives, parents, friends.
B. A bank loan secured probably on their house(s). To have belt and braces the bank would make this a "joint and several" loan, let's say of £10,000.

So our tyro businessmen think they each stand for £5000 each. WRONG, "joint and several" are one of the many inoccent looking hurdles to trap the small businesman - it means if one person securing the loan defaults , the other takes on the burden of the whole of the loan repayment.

C. Once trading they can obtain (not easily and almost impossible for a new business in the current climate) trade terms or credit from suppliers. They also have to offer credit to their customers - impossible to trade if not offered. It is not uncommon that creditor exceed debtors by a factor of 5 - in fact their company is funded by their major suppliers!

D. Once established as a going concern, they discover from their accountant they can borrow money in other ways ;

Leasing or lease hire of vehicles, where they never actually own the asset and if they fail to pay the asset is recovered by the lessor. 90% of company vehicles in the UK are leasd - you can lease anything, furniture, computers, pictures, carpets....

Credit cards

Typically such businesses do not build up capital assets, if they do, their nett worth is probably 10-20% of their declared value on the balance sheet.

So the bank will see that the overdraft, whilst serviced as agreed is always bumping up against the limit and will prove resistant to extend the size of the loan unless some more security is available.

So our businessmen get good at milking supliers for credit and bearing down on customers to pay.

Then after the lying bankers disclosed how frail and fraudulent their balance sheets really were - credit hit the buffers for everyone and suppliers clamped down.

All of a sudden they have no money to pay the year end VAT Bill, the January date for personal tax, Corporation Tax,is almost on them, and the financial year end at end of April is looming.

The leaseholders on the wife's car is getting shirty... although she is on the books her notional salary went months ago.

They can't get the bank to extend the loan and they are asking / demanding tougher terms. Why shouldn't they ? Not only have they no money to lend, they know from experience that the company is basically insolvent.

Insolvency has two tests.

1. The companies assets are exceeded by their liabilities.
2. The company cannot meet payments when due.

Their accountant tells them that the law requires them to call in an insolvency expert.

Figures are tossed about of an impending 35,000 companies closing in the next 6 months. That sounds like a conservative view.... whatever clever fucking scheme Brown / Darling and the wizards of the Treasury and Threadneedle Street whizz up.

...and don't expect Cameron and the Bulingdonites to come up with any answers either. This just has to work out through the system.

See Roto Rooter Economics

Also as a an example of joined up thinking, there is curently a perverse, incentive whereby companies in liquidation (they are kaput, finito, dead like this parrot ) are exempt from empty property rates while those in administration (ie they may phoenix like arise again) are not.

It is of course not unusual now for property owners to remove the roof to avoid empty business rates when their tenant has folded, moved on as it is ion the current market unlettable and unsaleable.

Michael Abraham Levy, Baron Levy of Mill Hill .. all round shit, liar and blot on humanity

Cristiano Ronaldo had just cracked the first goal past a hapless Wigan goalkeeper for the best football team in the world, when the BBC's Political Correspondent David Thompson posted "Levy's timing unpleasant for Brown" along with a video of the Andrew Marr lobbing soft balls at the diminutive Karaoke King who is peddling his "memoirs" (A Question of Honour) which hits the gutters on Monday.

Levy is an egregious little shit. Influence peddler, glad handing guardian of the Labour glitterati, his slimy presence insinuated itself like a putrid virus in the socialist body politic.

From his eyrie, lounging on the vermilion ottomans next to Jack Straw's office at the Foreign Office, at the heart of Government he spun a vile web, of intrigue, payments, position and peerages and the imposition of a Zionist foreign policy agenda.

Now, having narrowly escaped his fit and proper perch in Pentonville he has been busily bemerding those whom he lastly called his chums. Waving his tiny and delicately manicured hands (he is however said to be hung, such that donkey would be envious), like a carpet seller in a shadowy souk - he took advantage of the chance offered him by the BBC and Andrew Marr - who looked dangerously like falling to his knees at one stage - he now seeks to destroy those left behind in the chaos he and Tony and rest of the Zionist rabble have reduced the Labour Party to.


If there were justice in the world, a mob would be sacking Totteridge Towers , led by the outraged and misled peerage purchasers, my dusky and distant cousin and would be Lord Patel (not forgetting the beautiful wannebe Lady Patel) , Viscount Townsley , Marquess Garrard of Putney , Earl Sir Gulam Noon of Chutney , Baroness Caring of the Ivy, my Lord Aldridge of PFI and Capita Rod Aldridge, and in the rear a bitter and red faced Ruth Turner and Yates of the Yard followed by a howling mob of ghoists of sociliasm past, bearing scythes, burning brands and nooses.

But.

Nothing will happen until the greedy Westminster caravan can all agree on a scheme whereby they can fleece the tax payers coffers to fund their squalid cabals of influence peddling.

On his single visit to a lap dancing establsihment, Lord Patel fled on seeing a lugubrious youth performing his duties in the interval between "dancers". Armed only with a grimy cloth and a disinfectant spray he set about cleaning the somewhat moistened pole.... he fled.

There must be people similiarly employed to refrsh the upholstery in Sunday Morning TV studios.

PS : Alex Ferguson should be ennobled without delay. Arise Lord Alex of Chewing Gum.

UPDATE : Monday. Toni Fabuloso has been riffling through the signed copy (bound in black morocco -limited edition for the Forum letter writers Club) of Al Cambell's tedious diaries "The Blair Years" and notes that the loathsome little twat Levy is barely mentioned (which is odd) On Page 86 , TB is toiling at Totteridge on his speech for the Brighton Conference ..." Michael's place was a bit over the top for my taste , big security gates,white carpets ..." . ON Page 136 in Cape Town with Nelson Mandela, TB asks him to inscribe a copy for Michael and Gilda Levy .."which I thought was a bit naff". Notably on Page 274 Al remarks on the US Ambassador .." who has a weird and very American, over firm and over friendly handshake, a bit like Levy's" (The text doesn't make clear if it is Michale or Gilda's handshake is referred to).

Interesting to compare say index entries of Alex Ferguson and Philip Gould.

Brotherly love ...

In BBC 4's Monday morning book peddling programme , Start the Week , Andrew Marr interviewed Francis Wilson whose book about William's sister, The Ballad of Dorothy Wordsworth is published by Faber and Faber.(£18.99, pp286 Amazon ) This is essentially an extended psychobabble review of Dorothy's 4 small notebooks - The Grasmere Journals produced in the period between December 1799 and October 1802, when Dorothy and William lived together at Dove Cottage in Grasmere, and which end with William's marriage.

Childhood playmates, William and Dorothy were separated on the death of their mother, when William was 8 and Dorothy 7, their father died 5 years later. Dorothy was despatched to Halifax to be raised by her second cousin, Elizabeth Threkald.

The siblings had a happy and successful menage with Samuel Taylor Coleridge in Dorset about which much has been written. Their later idyll in Grasmere, documented sketchily in her journal ended in (to Dorothy) her brother's unwelcome marriage - which she refused to attend.

(Melo) dramatically she threw herself on her brother on his return to the cottage after the wedding , and it was she not his wife who was carried over the threshold. The wedding ring (some Wordsworthian has it yet) was made a Brussels and was said to have been obtained when the pair went to meet his French mistress, Annette Vallon, mother of his child.

Dutifully however Dorothy joined the happy couple on their honeymoon and continued to live with them at Dove Cottage and later at Rydal Mount. She descended eventually into madness and spent the last two decades of her life Dorothy ended her days on the top floor of her brother's house, scratching her nurses and 'making a nondescript sound more shrill than the cry of a partridge or a turkey' or simply amused by swilling water round a bowl.

The book's blurb has it that ..."The tale that unfolds through her brief, lyrical entries reveals a strange, intangible love between brother and sister" . However Marr, in questioning Francis , gave the tale a very tangible dimension.....

ANDREW MARR : This is an incestuous relationship between brother and sister ?
FRANCIS WILSON : Well Yes ! But it's a much more complicated relationship than that .

More complicated for Fuck's sake! William sodomized her ? Introduced farmyard animals into the bedroom ? Used some antique sex toys to freshen things up ? She tied him up and used him as a toilet ? Anyway you could here Francis smile as the tills started ringing in Waterstone's.

According to some reviewers Mrs W is said to have joined in the frolics to make it a merry threesome. Who knows ? Who cares ? Probably faber & Faber and Francis Wilson's anxious bank manager.

The beautiful and haunting Rachel McKinney is a Californian by way of childhood days in Chile, Mexico, and Arizona and an adult life on the stage in New York and stars as Dorothy Worsdworth in Roan Productions film Grasmere.

The Grasmere Journals text is available at Amazon.

Andrew Marr and BBC catch up with Russian developments ...

Andrew Marr - one of the overworked, overpaid hacks the BBC relies on to keep the message "on message" chatted with sex bomb Jacqui Smith on his Sunday politics program.

Today he "Started the Week" on BBC4 at 9.00 am he interviwed Economist Journalist Edward Lucas who was peddling his book The New Cold War: How the Kremlin Menaces both Russia and the West is published by Bloomsbury. (Order from Amazon)

He claims to be a lone voice in highlighting how (19 minutes into program) Vladimir Putin has used its Russias soaring oil and gas revenues to gain influence in the West while ruthlessly silencing its critics and neighbours. He claims no-one is taking any notice - hence his use of the term "the New Cold war" .

Lucas laments how Putin popped into Bulgaria last and stitched them up for the South Stream pipeline which effectively destroys the EU Nabucco pipeline - which First Deputy Prime Minister Dmitry Medvedev, Gazprom's chairman signed up with Bulgarian Prime Minister Sergei Stanishev But this was actually stitched on June 24 2007 in Zagreb, when President Putin held a bilateral meeting with Bulgarian President Georgi Parvanov ) as detailed by Lord Patel last week - Putin and his gang extend energy interests and ownership

Anyway all credit to Edward Lucas, Andrew Marr and the BBC for eventually getting the news about South Stream and it's importance to energy security in Europe published.

Whilst we have posted a great deal of many of the aspects of the rise of the silovaki - Putin's team consolidates - Which commences

..."Yesterday the Russian Union of Industrialists and Entrepreneurs replaced three members lost from the Board, former YUKOS CEO Mikhail
Khodorkovsky, Chairman of Supervisory Board at Industrial and Construction Bank Vladimir Kogan and Vice President of the Union Viktor Dombrovsky.

They were replaced by LUKoil President Vagit Alekperov, Metalloinvest and Gazmetall co-owner Alisher Usmanov and Kuzbassrazrezugol CEO Andrey Bokarev.(see pic)"

Is worth reading.

Of course the blogistes are merely ill informed commentators.

*** Leonid Tygachev is President of the Russian Olympic Committee.

Is the Home Secretary back on the spliffs ?

45 year old, Oxford educated (Hertford College) ex teacher, mother of 2 young boys, plump, comfortably overweight JACQUI SMITH, the first ever female Home Secretary, to whom exercise is evidently a luxury, has admitted she would feel unsafe walking the streets of London late at night.

In an interview with The Sunday Times, she said she would not feel comfortable out alone after dark in deprived areas such as Hackney .... or even affluent ones like Kensington or Chelsea.

On the BBC1 Andrew Marr show this morning , wearing her trademark white jacket (perhaps her only one besides the uniform red jacket (and glasses) she wore at the State terrist conference last week - see above) with generously proportioned black trousers, was asked by Andrew to comment on Michael Nazir-Ali, the Bishop of Rochester's recent remarks that Islamic extremism is creating 'no-go' areas in parts of Britain.

With her chubby jowls wobbling only slightly she said "There are no no-go areas in Britain" .

Miss Smith evidently has considerable difficulty in distinguishing between her plump arse and her plump elbow... or ... she is back on the spliffs. You Tube

Where are they Now ? No 432 Bob & Kendal Ehrlich

Ex republican Governor Robert Ehrlich and first lady Kendal filled in for Tom Marr on WCBM (680AM) in Baltimore back in January .

The good news now, is that The Ehrlich's will be hosting a regular 9:00-11:00am Saturday Morning radio slot , "The Guv Show" following Bruce Elliot, who has been shafted shifted to the 5:00-9:00am slot - but on WBAL (1090AM).

Only 5 months since losing his re-election bid, former Gov. Robert L. Ehrlich Jr. is raising money to keep his campaign office open, to fund grass-roots political organizations and to "confront the ultra-liberal bosses in Annapolis.".. whilst they have been busy halving the Governors fleet of 300 cars.

Bob Ehrlich, who in addition to being paid for his radio gig is writing a book and heading the new Maryland branch of North Carolina law firm Womble Carlyle Sandridge & Rice. His wife Kendel has taken a consulting job as a director of the Bank Annapolis. "She will act as an ambassador-at-large in the community by promoting the Bank and developing important business opportunities for us," said Chairman and CEO Richard M. Lerner. Bob is also the Mid-Atlantic chairman of the doomed Giuliani Presidential campaign he might stick on Guliani agreeing to federal funding for abortions but he agrees with on gun control - he voted to reduce the time for checks on gun buyers from 72 to 24 hours - which doesn't fit too well with Kendal's remark at a conference on domestic violence at Hood College in Frederick, "Really, if I had an opportunity to shoot Britney Spears, I think I would." in October 2003. She later apologised ...so that's alright then.

Whilst he was a Congressman he also sponsored a Congressional Resolution expressing solidarity with Israel:(House Resolution Sponsorship 02-HR392 on Apr 18, 2002)

• [The United States] expresses solidarity with Israel as it takes necessary steps to provide security to its people by dismantling the terrorist infrastructure in the Palestinian areas; and
• Commits to Israel's right to self-defense and support for additional U.S. assistance.
• Condemns the recent wave of Palestinian suicide bombings and the ongoing support and coordination of terror by Yasir Arafat and other members of the Palestinian leadership.
• Demands that the Palestinian Authority fulfill its commitment to dismantle the terrorist infrastructure in the Palestinian areas.
• Expresses concern that Arafat's actions are not those of a viable partner for peace.
• Urges all Arab states to declare their unqualified opposition to all forms of terrorism, particularly suicide bombing, and all parties in the region to pursue peace in the Middle East.
• Commends the President for his leadership in addressing the Israeli-Palestinian conflict.
• Encourages the international community to take action to alleviate the humanitarian needs of the Palestinian people.

So that's good news for all those folks in Maryland.

Military studies in the Jihad against the Tyrants - get your copy and join Kalid Khaliq in the slammer

Khalid Khaliq, 34 from Beeston, Leeds, who has been in custody for over a week and was charged late on Sunday and will appear today at City of Westminster Magistrates, central London, charged under the Terrorism Act 2000with possessing "a document or record namely the al-Qaeda training manual containing information of a kind likely to be useful to a person committing or preparing an act of terrorism".

Well Lord Patel has a copy as well, see title page here - and you can get your own copy in translation from here as an html file - it is also available on many websites as document in Arabic. It was produced in evidence during a Federal trial of four men accused of involvement in the 1998 bombing of U.S. embassies in Kenya and Tanzania.

The Arabic Script on the title page reads Military studies in the Jihad against the Tyrants

How valuable this manual is to the Jihadist you may judge by examining what it has to say on Explosives by clicking here

Toni Fabuloso has a copy of Moriaty's Police Law (which is a bit out of date and has been replaced by Butterworth's Police Law, - but she isn't a WPC.

As you can see she doesn't fit the uniform. (Click to enlarge)

UPDATE : Kaled Khaliq has been released on bail - leaving TERROR to stalk the streets of Britain !! (believed to be a Tupperware salesman - pretending to be a policeman)

This quote provides an interesting insight into the uses the US Authorities claim for the above document .

On Sunday12 March 2006 Andrew Marr BBC TV interviewed Colleen Graffy, US State Department

COLLEEN GRAFFY: Yes. So why not go down, meet with the doctors, with the guards, with the interrogators, and still put in the report but we would have liked to have spoken with the detainees. But frankly what would we have learned from that? If the detainee said we're being tortured, you'd say well there's OK there's the Al Queda manual, chapter 18 that the British police discovered in Manchester saying if you're detained claim you were tortured. Or if they're not told they're tortured then they'll say well you detainees were specially chosen.

..and now for the weather...... Man who read the news dies.

Veteran BBC reporter Nick Clarke has died. Few will forget the direct, straightforward way he narrated the diary of his disease and his brief return to work. As ever Clark 's BBC official and energetic hagiographers have been at work - no BBC employee the public sees may die that their passing isn't seen as another fixed step on the wide and sweeping cultural history of Western civilisation.

Old , name dropping bore Alistair Cook, who long past his sell by date, defied his removal to the last was accorded what could pass for a Sate funeral. John Peel, despite his murky early marriage and boastfulness about Venereal disease was to remembered long, long after a man who played gramaphone records on the Radio could reasonably be remembered - even by tear jerking readings of his semi-literate celebrity biography.

Let us not forget there are many hundreds of Nick Clark's out there, denied access to the airwaves, which appear to be the preserve of a Metropolitan Mafia. The Dumblebores, both on radio and Television. Inheritors of a vast family fortune they have no need to work, but holders of their father's crown their nauseous narrative attends every state ceremony and death - not to mention Any Questions and Question Time.

Andrew Marr hurts his ankle and it's a news story. Kate Adey snubbed is an event of massive import and report. John Humphreys examines his navel and the world gets a 4 part series. .. and esposure to the industrious Naughtie is unceasing. We are also exposed to more of the egregious antipodeans like Germaine Greer (and we saw far too much of her once over) and Clive James.

Now with the BBC, the PC is PC correct, the celebrity PC newsman/woman is increasingly the news.....

...and the news, blander , more State driven and controlled.

Last week it was said that "Feedback" would address the complaints this week about Dimblebore interrupting, putting his views forward , rubbishing the public's comments on "Any Questions ?" - apparently e-mail traffic flooded "Feedback"'s office ... and the programme which went out today, quietly pulled the item.

Celebrity news people, the Kirsties, Johns, Jims, Claires, Paxman's rule and out there, aspirant journalists are supressed, along with their views. Take heart though they are all going to die.

Bring back Ray Gosling.

Didn't Jack pop the question to Condi ?

Just what did Jack the Lad and Condi get up to ? We know that Jack spent the night in her bed en voyage to Baghdad (although like a gent, he left her asleep on the floor?), we know he followed her every word and looked admiringly on all the time like a lap dog. What can we make of this report by the BBC ...

Mr Straw also commented on reports in US publication the New Yorker that the US is planning, if necessary, to attack facilities in Iran. The article also suggested the possibility of a nuclear strike.

"The idea of a nuclear strike on Iran is completely nuts," said Mr Straw.

He told Andrew Marr, the UK would not accept a pre-emptive attack on Iran, and he was as "certain as he could be" that neither would the US.

Surely Jack popped the question at sometime, ... " are you going to nuke Iran honey ?" There must be a time when an honest girl has to say NO!.

Evidently Jack still doesn't know if Condi is going to make the Earth shake for him. Seymour Hersh seems confident she is ....

Pic Jack, Tony et al in their younger days

George Galloway goes to police after "Fake Sheikh" con trick

Mohamed Ali, the chief executive of the Islam Channel was approached covertly by " fake sheik" Mazer Mahmood of Rupes Rag NOW to introduce George Galloway to him claiming several times that "somebody" wanted to meet him who was "keen to help "Respect" and the ...er .... “community”.

GG claims he was naturally suspicious, Mazer tells me GG kept putting off the "offer" for several weeks. Finally, after much prompting from Mr Ali, He agreed to meet this "someone" after his radio show on Saturday 25 March, at 10.30pm at the Dorchester Hotel, ( asort of pub on Park Lane) a venue which made him deeply suspicious.(Although Finjan Ltd., may well have paid for the odd meal or two on the premises, as GG's Jordanian businessman friend , Fawaz Zureikat may well have done - but probably hasn't)

GG explains he arrived and met Mr Ali sitting with someone who didn't introduce himself - but who later identified himself with a visiting card claiming he was Sam Fernando of Falcon Group International of 64 Knightsbridge.

They were joined by a man who embraced him in the South Asian custom but didn't identify himself. Neither GG claimed looked Islamist ! (Mazer is quite upset about this!)

Neither had a beard!!! Sam was a cool trendy looking man, and "Pervaiz" (though he never did say his name) had shoulder length jet black hair - not the usual style of an Islamist. (GG has evidently never been to Rochdale!).

After some small talk they began to ask some ludicrous leading questions. Such as, “How can we help, can we sponsor members of parliament?... fund political parties?”

I told them, "Absolutely not, it's completely illegal."

"But through English people ?" said Pervaiz, gesturing towards Mr Ali. I replied, "No. It’s completely illegal and so it should be Britain is sinking in campaign funding sleaze involving foreign funding." I told them that if they wanted to help the "community" they should invest in the Islam Channel, or start a radio station like the one I work for.

They then made offensive statements about Jewish peoplewhich GG says hey invited him to agree with. For example, when GG said the Daily Express was the worst pro-war, anti-Muslim paper in the land they asked, "Because it's owned by a Jew?"

"No," GG claims he said, "Because it’s owned by a pro-war anti-Muslim pornographer."

More seriously, they then moved on to doubt the Holocaust relates GG. "You're not allowed even to quibble about the numbers," said Fernando, "Not even to say it might have been 5 million"

" I weighed in, “People should never go down that road . David Irving isn't quibbling about the numbers in his heart he supports the Holocaust." said Gorgeous George.

I’m always telling Muslims never to get involved in that debate. The Holocaust is the greatest crime in human history and it should be accepted as such." At midnight I said GG made his excuses and left as many readers of the NOW would be familiar with.

"My driver wants a picture with you," said "Pervaiz", "He's seen you on television." His driver was built like a bodyguard, had a mouthful of gold teeth and when GG asked where he was from he answered, enigmatically, "From up north.”

After pictures, GG left. Outside GG rang Mr Ali and warned him. GG thought these people were deceivers. It turned out they have been also wanting an introductiom to my parliamentary colleague, Jeremy Corbyn, Hon. Member for Islington North.

GG explains that in In Andrew Marr's book, he interviews the “fake Sheikh” Mazer Mahmood. He describes the Sheikh's "minder". Marr says has a mouthful of gold teeth.

GG has written to the Speakers Office and Sir Ian Blair of that Ilk claiming all sorts of malpractice, torts, rights, wrongs.... anyway he got a slap up dinner at the Dorchester. When Mazer "exposed the 5th 7/7 bomber he got six months inside for wasting Police time.

Pic George Galloway and the owner of the Sahara Nights club Mr Haleem Kherallah.

PS Fawaz Zuriekat, is an individual named on 12 May 2005 by the US Senate Sub-Committee as allegedly connected with payments in relation to allocations of oil under the Iraq Oil for Food Programme.