Quince - the Golden fruit of winter

Quinces are a curious group of low growing, prickly ansd straggly shrubs in the Rose family, Chaenomeles / Cydonia , which produce a hard green apple like fruit, turning golden in the Autumn / Winter.The Portuguese name "marmelo" gives it name to the orange confection of marmalade, popular now as the bitter Seville oranges fill the shops.

The highly perfumed fruit, (said to be eaten by the bride before she and the bridgeroom enter the bedroom on the wedding night) is added to the frozen stores of apple sauce by Lord Patel to give winter apple pies a sharp tarty bite. They also perfume a room.

Cultivation probably started 2,000 years before Christ and was spread by the ancients as the Golden Apple - which led of course to Adam's fall - and also appears as the legendary golden apple of Hesperides that Paris gave to Aphrodite and started a war. The Italian name of pomme d'oro which by an accident of transatlantic history has been transferred to the red Tomato.

In the Middle East it finds it's way into many recipes for fruity pastes to brighten meat pies and dishes - sfarjel in the Lebanon, mixed with pomegranite in Syria to produce a ubiquitous dibs rouman and in Iran as beh. Many Middle East herbalists recommend a tea of the bright luscious shiny seeds for chest complaints.

In Spain, they make a paste to accompany cheese called carne de membrillo (also dulce de membrillo) which takes up the dark reddish tinge of the cooked quince ( and which the Portuguese confusingly call marmelada and the Italian version is called cotognate) and long pre-dates (it is said) the marmalade beloved by British breakfasters on the Costas.

To make this tasty confiture is very complicated.....

1. Peel and de pip the fruit, boil for some 40 minutes until soft.
2. Mash / blitz in blender and add equal weight of sugar, then simmer with a little water (rose or orange water for foodies).
3. Turn out the sticky red paste and let it set on greaeproof paper on a tray.
4. Store when cool in jar / Tupperware.

Red Ken has trouble with wind : It is someone else's fault- the race is not to the Swift Mk. I

Peter Hulme Cross: (One London Party member of the London Assembly Environment Committee) Please can the Mayor update me on progress with the faulty wind turbines removed from the LDA head office roof?

Ken Livingstone: The wind turbines were removed due to a product recall (Swift turbines manufactured by Renewable Devices in stalled Nov. 2006 and recalled after 6 weeks). The LDA is pursuing the installation of replacement wind turbines following the re-engineering of the software that controls the wind turbines as soon as possible.

At the time the Great and Noble Leader said: "This innovative renewable energy scheme will provide clean, green electricity for the new headquarters of the London Development Agency and the London Climate Change Agency. It demonstrates my commitment for the Greater London Authority organisations to lead the way in taking measures to tackle climate change through reducing carbon emissions.

"The London Climate Change Agency has provided the expertise for this project which will act as a living example of how the Agency can help other organisations to become more sustainable in their use of energy."

Barry Marsh, Director of Solar Technologies, the contractor installing the project at Palestra, said: "This is a renewable energy first and complements our other renewable energy projects"

The installation of the wind turbines on Palestra was supported by an Energy Saving Trust grant of £155,276 under the DTI Major Photovoltaic Demonstration Programme. The total cost was £436,000 and the project comprised an 84kW renewable energy system - a combination of 63kWp of photovoltaic panels on the roof and 21kW of fourteen building-integrated wind turbines also on the roof. The combined renewable energy system was designed to generate 3,397,000kWh of renewable electricity . The total amount of electricity produced since the solar panels were installed and connected to the distribution network in October 2006 to September 2007 is 45,264kWh (11 months operation) and was claimed to exceed the predicted output of the solar panels. The economic value of this electricity was said by the LDA to be £3,560 in its first year of operation. Also see here see here

On the 8th January the LDA announced that they will trial the new Swift II wind turbine - which has been developed by Renewable Devices using re-engineered software and different construction to the original Swift Turbines - and one other turbine. Full installation will be subject to the results of the trial installation and is expected to take place in the first quarter of 2008.

Nothing in the LDA is ever straightforward or simple and "Scottish and Southern Energy have refused to re-install the wind turbines on behalf of Solar Technologies Ltd. Therefore the London Climate Change Agency ( LCCA ) has decided to re-install the new turbines outside of the Solar Technologies Ltd original contract."

Sounds a splendid way of ;
a) Spending the tax payers money
b) Demonstrating how uneconomic, such small scale "renewable energy" schemes are (Capital Payback 100 years ?).

The charming, polite, helpful Rachel Clark at the LDA Media Team on 020 7593 8616 or email rachelclark@lda.gov.uk. will answer ay questions you might have.

Algeria - FCO gives new travel advice of terrorist attacks - and a funny Diplomatic joke about the Oirish

The Foreign and Commonwealth Office today (5.45pm) changed its travel advice for Algeria. Due to the continuing threat of terrorist attacks we now advise against all but essential travel to Bouria, Tipasa and Chlef districts, which are east and west of Algiers. The relevant summary point now reads:

"We advise against all but essential travel to Algiers and to the administrative district (wilayas) of Boumerdes, Bouira, Tizi Ouzou and Bejaia, which are east of Algiers and Blida, Medea, Tipasa, Chlef and Ain Defla, which are south and west of Algiers. You should make journeys within Algeria by air where possible."

BTW, Ruari O'Connell Deputy Head of the (so called) British Office in Pristina provides a rosy (and unbelievably naive) view of the future of Kosovo on the FCO blog in trotting out the official misguided view on Nobel Peace prize wannabe Comrade Ahtisaari's proposal for the final status of Kosovo - Ruari also tells a joke his Oirish Grandmother used to tell him (stop me if you have heard this before) ... A man found himself in the back of beyond, totally lost. Finally, after driving round in the dark for hours, he comes across an old farmer on a horse and cart. Winding down the window, he leans across and asks "Excuse me - I'm not from round here; could you help me get back to Dublin?"

Apparently (the way Ruari tells it) ...The old farmer thinks for a while, then says: "Oh, I can get you back to Dublin all right - but I wouldn't start from here".

By Jove these diplomats have a sense of humour - which if you are sent to Pristina is something that you should make sure you pack.... although it is difficult to imagine that any archetypal, thick, bog stomping , potatoe chewing Oirish diplomats will see the funny side of the story.

Perhaps he could waylay his boss, the boy David and tell him the one about the Kike whose shop had burnt down ....

Plod earns massive pay rise - "Solid intelligence" says Chief Police terrorist

Deputy Assistance Commissioner Peter Clarke, head of the Metropolitan Police terrorist unit, Sphincter of the Yard and owner of the largest lunch pail today described the intelligence as “specific.” when 72,000 Police arrived at Parliament Square.

"Dodgy Dossier" lies must be published says the Information Tribunal ... Chris Ames and the lies of Captain Scarlett, Alastair Campbell , Tony Blair

Today by the government argued that releasing an early ( and so far secret) draft of the controversial dossier on Iraq's weapons of mass destruction (WMD) prepared by the then-Foreign Office press secretary, John Williams on 7 and 8 September 2002 would not be in the public interest.

It preceded what the government would later claim to be the first draft, written by Joint Intelligence Committee chairman John Scarlett on 10 September, his chum Alastair Campbell, another serial and serious liar, also denied outright that there was such a document.

The Information Tribunal has today ordered the Foreign Office to disclose the document which can then be compared with liar John Scarlett's 10th December draft.

This ruling upholds the decision by Information Commissioner Richard Thomas last May , that the Williams draft "might be capable of adding to the public's understanding of the issues in question".

The "dodgy" dossier was finally published on 24 September 2002, two weeks after Scarlett’s “first draft”, and was central and critical to the lies, deceit and dishonesty that characterised the Government's case made to Parliament t illegally invade Iraq ... which had been decided by Presdient Bush and Tony Balir in April 2002 when they met in Texas.

The inquiry by Lord Hutton - which largely cleared the Government - was not handed the draft or address the questions which it might raise, according to the Tribunal.

The ruling - which follows an initial Freedom of Information (FOI) request from dogged campaigner Chris Ames in February 2005 (subsequent to a refusal from (then) Foreign Secretary Jack Straw to produce it) - states that there should only be a "very small redaction in the manuscript annotation - a handwritten note to be redacted which the Foreign Office claimed would be damaging to international relations." before it is disclosed - a claim that it did not make at the time of its initial refusal. The information is "not central to the purpose or content", the Tribunal states.

The Tribunal is also very critical and scathing about inconsistencies in the government’s evidence. They repeatedly observe that the main Foreign Office witness, Stephen Pattison, its Director, International Security, “was not involved at the time and volunteered no information about the source of his information”. It states that “it is a matter of concern that the information given to the Information Commissioner on the very nature of the information in dispute was apparently different to the evidence given to us.” (Which is effectively calling him a liar)

These comments relate directly to the role of the Williams draft in the production of the dossier. The FCO had told the Commissioner that Scarlett commissioned Williams to write the draft but subsequently changed its story. (Which is effectively calling them liars)


The tribunal refers to Pattison’s “assertion” that the draft was “not used in the dossier drafting process.” It commented that he was “apparently unable to identify any source for the assertion quoted above among either those who were so involved or from any contemporaneous document.” (Which is effectively calling him a liar)

MP John Baron , Conservative, Billericay (Defence Minister Bob Ainsworth last week said his information about lack of equipment in Afghan was "Absolute Bollocks") said: "This decision lifts the lid on government efforts to cover-up the role played by spin doctors in producing the Iraq Dossier.

"I am now pressing the Foreign Secretary immediately to make public the Williams draft, so that we can assess for ourselves the significance of this document in the run up to war – a war which we should never had been party to.

"The Tribunal agrees that the Williams draft could have played a greater part in influencing the drafting of the dossier than the Government has so far admitted - even to the Hutton Inquiry. The Government cannot hide this document any longer."

The Government can (and probably will) appeal to the House of Lords.
PA report

Chris Ames explains the significance of the decision of the Tribunal to force the Foreign Office to release the secret draft of the Iraq WMD dossier at the New Statesman.

The full text of the Tribunal decision is available here. PDF warning!!

Ipswich prostitute captured on CCTV - were the 7/7 bombers ???

Maire Alderton , mother of 24 year old Anneli Alderton, told Ipswich Crown Court today how her daughter turned to prostitution to fund her drug habit. She had been in prison four times and had received rehabilitation treatment for drugs.

The police did a remarkably good job of ensuring a CCTV from a train journey Anneli took on the 1753 GMT train from Harwich to Colchester on 3 December, received wide, local, national and international publicity less than 7 days after she was murdered.

How odd that those 4 bombers who travelled from Luton to London on 7/7/2005 , seen by many, many CCTV cameras in car parks, stations, concourse, 3 underground trains and a bus - have never been publicised in the same way.

"Police are scrutinising 80,000 pieces of footage from security cameras to discover how the three young Muslims spent almost four hours in the capital." Times Sept 21st 2005.

All this effort and evidence hasn't resulted in producing a single moving image capturing any of the four (or any other people involved in the bombing). We do of course have a picture said to be of them taken on a "dry run" 9 days before... so it is interesting that Rachel from London , having met John Reid the (then) Home Secretary ( along with others) received a 4 page letter that answered some questions they had raised with him ...eg on CCTV footage

"The Metropolitan Police have told us that the primary reason for this is that the footage forms part of the police evidence. Their practice is to limit the
release of footage to that which is pertinent to progressing their investigation. In deciding what to release, the police need to take into account that any footage could potentially [ underlined] prejudice any prosecutions that result from the on-going police investigation.''

Evidently after 2 1/2 years later , and the alleged perpetrators dead, there is no potential prosecution which could impede the production of such evidence.... and who knows, it may , as in the case of the Anneli Alderton help focus the memory of some members of the public, jogging memories...

Ipswich had 5 drug addicted prostitutes killed ... London still mourns 56 dead and many hundreds more are injured directly or by the loss of children, friends and family.

If the Police can produce such evidence for safety of people in Ipswich , the population of London deserves to see more about what exactly happened that fateful July day which would help to prevent further such tragic events....unless of course the reason is, that no such CCTV film exists amongst ,"the 80,000 pieces of footage from security cameras" on that day.

Clostridium difficile out break in Northern Ireland kills 16 and 13 seriously ill

The Northern Ireland , National Health Northern Health and Social Care Trust area have recorded 16 hospital related deaths to a virulent strain identified as ribotype 027 Clostridium difficile.

Five deaths in Whiteabbey and one in Braid Valley hospital, Ballymena in the last 3 months have also been linked to the same strain of Clostridium.

Antrim hospital is currently treating 13 patients in a special "a dedicated cohort ward" identified as having contracted illness caused by the contagious bacteria - Clostridium Difficile Associate Diarrhoea (CDAD) which causes violent and often fatal diarrhoea especially in older people.

Currently there are there are currently 26 declared cases of C.difficile, "the bulk of them at the Antrim Area Hospital".

The Trust's medical director, Dr Peter Flanagan, explained that an outbreak of C.difficile is declared when the number of cases increases above the normal level.

"We would expect around 8 cases per month. We currently have around 20 per month," he said.


Lab reports of C-difficile in Northern Ireland increased from 412 in 1996 to 1,486 to 2006. The disease is cited in more deaths than the better known MRSA superbug, the expert said.

Belfast Telegraph - Patients isolated after superbug outbreak at hospital - Friday, October
Belfast Telegraph - 16 recent fatalities linked to superbug - Wednesday, January 23, 2008


Proventec PLC (AIM : PROV) has been awarded a 14-month tender for the sole provision of
specialist steam cleaning equipment by the National Health Service ('NHS') Purchase and Supply Agency with an optional 1 year extension by it's subsidiary, Liverpool based, Osprey DeepClean . The contract results from the recent £50 Mn. extra funding for the Strategic Health Authority.

The company claim that their carried out healthcare studies, carried out
in conjunction with the University College London Hospital is an endorsement that our dry steam cleaning units can provide a higher standard of cleaning and hygiene.


David Chestnutt, Chief Executive of Proventec announcing the contract said, "'Hospitals have a duty of care to provide a clean environment for patients.There have been accusations that the Government's recent initiative for a national deep clean is merely a gimmick. It is not. "

Well he would say that wouldn't he. Bollocks.

Clostridium difficile is a faecal contaminant and a rigorous policy of handwashing with disinfectant soap by all staff, and visitors is the surest way to prevent it's spread....which is why it has spread so relentlessly throughout the UK hospitals.

Listen to and Download "Henry Handwash" MP3

Detailed report on deaths in NI where C difficile is given as a cause 2000/05

David Miliband in ecstasy over secret UN resolution on Israel Iran

David Miliband (Toni Fabuloso still cannot believe he is the Foreign Secretary) excitedly calls us to tell us about the new UN Security Council Resolution on Iran ...

"I am very pleased that the foreign ministers of Britain, France, Germany, the United States, Russia and China meeting today in Berlin have agreed to the contents of a new UN Security Council Resolution on Iran's nuclear programme. The new resolution will build on resolutions 1696, 1737 and 1747

"Today's meeting was united, constructive and determined. We urge Iran to respond positively to the repeated requests from the international community to suspend its enrichment related and reprocessing activities and to take advantage of the far-reaching offer of economic and scientific as well as political cooperation that would result from suspension of these activities. A positive choice by Iran holds the prospect of real progress for its citizens. Confrontation with the international community will only further isolate Iran and hurt Iran's citizens.

"The agreement today is a signal of shared determination to work against the dangers of nuclear profileration and for an inclusive international system based on clear rules and responsibilities."

Press Office, Downing Street (West), London SW1A 2AL - also sent us a note from him.

Now read that again, this time substitute the word Israel for Iran..... Israel are of course unlike Iran have not signed the Nuclear Non - Proliferation Treaty and so do not receive inspections from Egyptian born busybody, Nobel Peace Prize winning Mohamed ElBaradei,and his inspectors from the International Atomic Energy Agency. Although in November 2007, Israeli Deputy Prime Minister Shaul Mofaz called for ElBaradei to be sacked, saying "The policies followed by ElBaradei endanger world peace. His irresponsible attitude of sticking his head in the sand over Iran's nuclear programme should lead to his impeachment."

Of course in all his evident joy at the news - the boy David failed to mention that the assembled dignitaries decided not to announce any of the details of the sanctions.."which the international community will only further isolate Iran and hurt Iran's citizens ".

Coincidentally German Foreign Minister Frank-Walter Steinmeier (who had invited them all the Berlin to make this wholly symbolic and futile gesture historic announcement) said “We are agreed on the content of the next Security Council resolution,” took no questions.

Ms. Condileezza Rice did not speak after the meeting. She is reported to have said in a delphic utterance earlier in the day .. “I don’t think it’s any secret that we and the Russians and perhaps the Chinese don’t have precisely the same view of timing on these resolutions.”


Learn more about Mordechai Vanunu who exposed the Israeli nuclear weapons factory at Dimona here and his website here and also about Pennsylvania born Cheryl Bentov (AKA Cheryl Hanin) the Mossad spy, "Cindy" who lured Vanunu, (see pic) to be drugged, kidnapped and imprisoned for 20 years in solitary confinement .. she is a slightly podgy 46 year-old mother of two daughters, and a pillar of Orlando's Jewish community who lives in an exclusive gated commuity with her husband Ofer Ben Tov a former military intelligence major, in Orlando, Florida and sells real estate.

Red Ken's chum, Lee Jasper's deputy, barrister Rosemary Emodi deliberately lies to BBC, resigns

Lord Mayor of London , Red Ken's , has a (so far) chief race adviser Lee Jasper, who had a deputy - gorgeous Common Purpose graduate and barrister Rosemary Emodi LLB LLM (Society of Black Lawyers) , last week she denied visiting a £200-a-night resort in Nigeria last November to the BBC.

Confronted with the evidence that Virgin Nigeria confirmed Ms Emodi flew from London to Lagos on 30 November, stayed for three nights and returned on 3 December she promptly resigned her £100 K per annum job and The Lord Mayor's office said a formal statement made by Ms Emodi was untrue - bad news for a barrister.

The chalet at the La Campagne Tropicana resort in a £200-a-night chalet was paid for by her hosts.... she was accompanied by Eroll Walters, the director of community group Brixton Base Limited, and Director of Black Londoners Forum (BLAME) and a very close Lee Jasper.

"Errol Walters is a man driven by his convictions and believes that equality and fair play should be experienced by the less fortunate in society. His drive and vision is for a level playing field to be made available to all, no matter what the background or social status is. "

Errol has 3 children and spends his pastime watching athletics, football and cricket. His main interest lies in politics, both UK and Jamaican, and is keen on becoming involved in government in either country.

Erroll on Left and Red Ken on right

UPDATE 2.30 BST Ken's lying aide quits Andrew Gilligan London Evening Standard

- Interesting to see that the City office of blue chip lawyers Herbert Smith (who generously sponsor the National Portrait gallery from their famed monster fees)just popped in (up) to read the above ... you are recommended to visit their site and read their excellent guide to the Gubment nuclear power policy posted on Monday...Excellent.

They are also advising Hydrogen Energy, a BP / Rio Tinto, Joint Venture with Abu Dhabi-based Mubadala Development Company (investment and development arm of the government of Abu Dhabi) to start the detailed engineering design of a US$2 billion industrial-scale hydrogen-fired power generation project to be operating by 2012.

Hydrogen fuel, produced (they say "created" but lawyers don't get trained too well in physics) from natural gas would be used as fuel producing clean electricity and the resulting CO2 in a seperate, uncosted project could be captured and stored in geological formations or used for enhanced oil recovery.

The Greater London Authority offices and Lewisham Council offices have been regularr visitors all day and the BBC just appeared at 4.50.My.My.

Putin Rattles his Cold war sabre - NATO watches

Mr Putin is buckling his swash, flexing his military muscles big style in the Bay of Biscay - a spectacle calculated to unnerve the NATO defence planners and boost his popularity back home. On Tuesday 2 "Blackjack" bombers used the Bay to test fire missiles - escorted by British and Norwegian Tornado and F-16 jets (not Typhoons / Eurofighters ! (out of range ?) according to Interfax / Reuters were escorting the Russian 'Blackjack' bombers, Interfax reported, quoting the Russian Air Force.

The Russian bombers joined aircraft carriers, battleships and submarine hunters from the Northern and Black Sea fleets for the Atlantic exercises, in the bioggest Russian naval exercises since Yeltsin and the Berlin wall fell.

Last month Russia tooled up for major navy exercises in the Mediterranean, with 11 ships the navy's flagship (and only) aircraft carrier, the Soviet-made Admiral Kuznetsov (launched 1985) commanded by Vice Admiral Nikolai Maksimov, the commander of the Northern Fleet. It is backed up by 47 aircraft, the missile carrying cruiser Moskva, the large anti-submarine ships Admiral Levchenko and Admiral Chabanenko, and the supply ships Sergei Osipov and Nikolai Chiker left the Mediterranean on January 19, passed through the Strait of Gibraltar and reached the Atlantic.

Russia's air force said turbo-prop Tupolev Tu-95 strategic bombers, codenamed "Bear" by NATO, would join the exercise on Wednesday - they have been patrolling the North Sea for months and have the capacity to carryup to 6 internal AS-15 nuclear armed missiles that have a range of almost 2000 km.. Russian sources said that from tommorrow (Wed) the following planes would be involved : Tu-160 (Nato code "Blackjack" supersonic, variable geometry, strategic low-level penetration heavy bomber. ) , Tu-95 (Bear) , Tu-22 M3 "Blinder", Il-78 ("Midas" flight tankers and re-fuellers), A-50,SDRLO (Long Range Detection System)"

Meanwhile back at the ranch ...The second battery of S-400 Triumph anti-aircraft missile defense systems will be deployed in the Moscow region at the end of this year, Special Forces Commander Col. Gen. Yuri Solovyov said in Moscow yesterday.

"We expect the second regiment of S-400 systems to be deployed in the Moscow region in the end of this year."

See also Existentialist Cowboy and the Russki Strangelovian Muscovite missile Defence system

Many of the comments on this Times article "Russian bombers to test-fire missiles in Bay of Biscay" are worth reading.

Royal Academy help foster Russian / German Peace Pact bilateral gas deals at expense of EU collective energy security

Excited crowds celebrate Tsar Nicholas II's proclamation in response to the 1905 revolutionary uprising against him. In it he promised basic civil rights such as freedom of speech, universal male suffrage and a limited form of parliamentary democracy.

His “manifesto” split the opposition. The liberal Kadet party celebrated it as a victory, but socialists warned (correctly) that the concessions were cosmetic, and that power remained in the tsar’s hands.

Ilya Efimovich Repin Repin (1844-1930) disapproved of the successful 1917 revolutions that overthrew the tsar and he spent his remaining days in Finland.
The Royal Academy Exhibition looks exciting - and look who is sponsoring it !

OAO Gazprom, BASF AG and E.ON AG signed a basic agreement on the construction of the North European Gas Pipeline (NEGP) through the Baltic Sea in 2005. The parties to the agreement intend to set up the North European Gas Pipeline Company as a joint German-Russian venture, with Gazprom holding 51 % and BASF and E.ON each 24.5 %.

At the signing of the agreement, President Putin of Russia and Chancellor Schröder of Germany stressed the strategic importance of the project for the further development of German-Russian relations in the energy sector.

In 2006 E.ON agreed to take up a 25% minus one share stake in Yuzhno Russkoye, and in return Gazprom is receiving minority interests of 50% minus one share in Hungarian gas companies E.ON Foldgaz Trade and a 25% stake in the regional power and gas supplier E.ON Hungaria.

See Postman Patel - Sunday, November 19, 2006 - Gazprom / LUKoil - Russian energy gets to grips with Europe

See "Wine, Worship and Sacrifice: The Golden Graves of Ancient Vani," on view Dec. 1 through Feb. 24, 2008 at the Arthur M. Sackler Gallery, Washington ..... You might like to visit the Georgian Ambasadorial website and read about the exhibition and also ...How ...

"One of the priority tasks of Georgia's foreign and security policy is a full integration into the Euro-Atlantic community, which will enable our country not only to insure its security but also to contribute its own share to strengthening of peace and stability in the world. We keep right on target for democratic development and are willing to assist other countries too in the democratization processes, to which the establishment of peace and stability is one of the essential prerequisites.

Of great importance, in this context, is the participation of Georgia's armed forces in international peace operations. Since 1999 Georgian peacekeepers have been engaged actively in an effort to protect peace and stability in various regions of the world, within NATO-led and Anti-terrorist Coalition’s operations.

See also Vani - The Land of the Golden Fleece

Another end run for RasPutin.

There is a very good reason why bankers rhymes with wankers

Lord King Speech at the Mansion House 16th June 2007...

"Our central view remains that inflation will fall back this year as the rises in domestic gas and electricity prices last year drop out of the annual comparison, and the recent cuts in prices feed through to household bills."

The Bank of England's governor "Myopic Merv" the King of Threadneedle Street spoke to business leaders in Bristol tonight.

He explained that a combination of totally unexpected and inforseeable higher energy and food prices, which his highly educated, high powe4r economists, econometricians and business brains have now discovered that a lower exchange rate (steadily decling over the last 6 months against the Euro and the Dollar) and higher import prices (Biggest trade deficit last month - third largest bill for Norwegian oil - which will never decrease as N.Sea oil dries up - followed by N.Sea and Irish sea gas) and food (grain prices have been soaring for last 12 months) are pushing inflation above the 2 pct target.

'It is possible that inflation could rise to the level at which I would need to write an open letter of explanation, possibly more than one to the Chancellor,' he said.

The governor is obliged to inform the Chancellor of the Exchequer should CPI inflation overshoots it's artificial target by more than one percentage point. In the ten years of alleged independence, this happened once, last April.

Is it any wonder they fucked up over Northern Wreck ?

Myopic Mervyn's speech can be found in full here

"The latter is the rise in energy and food prices, reflecting continued strong growth in Asia, that, together with rising import prices, threaten to lift inflation noticeably above target in the coming months. "

Wow ... we didn't see that coming guys !!!!

Cometh the Hour Cometh the Man Commander in Chief - History to repeat itself ?

A recent book by Newsweek journalist Jonathan Alter about Franklin Roosevelt’s first 100 days in office, The Defining Moment: FDR’s Hundred Days and the Triumph of Hope (New York: Simon and Schuster, 2006), paints a startling picture of the political climate in the United States in the dark days of early 1933.

Roosevelt’s Inaugural Address had begun the process of restoring hope, but not everyone caught the new mood right away. The press coverage that morning largely downplayed or ignored FDR’s line: “the only thing we have to fear is fear itself.” The New York Times and most other newspapers relegated the line to their inside pages, while focusing instead on the vivid wartime allusions he employed five times during his speech—martial metaphors that suggested that there was, in fact, plenty to fear after all. The greatest applause line from the large crowd on the east side of the Capitol came when Roosevelt said that if his rescue program was not quickly approved: “I shall ask Congress for the one remaining instrument to meet the crisis: broad executive power to wage war against the emergency, as great as the power that would be given to me if we were in fact invaded by a foreign foe.”

Within a few years, “dictator” would carry sinister tones, but—hard as it is to believe now—the word had a reassuring ring that season. So did “storm troopers,” used by one admiring author to describe foot soldiers of the early New Deal, and “concentration camps,” a generic term routinely applied to the work camps of the Civilian Conservation Corps that would be established by summer across the country.

(see here and here and Rex84)

The propaganda machine, owned by the elite, was ready to be put into action in the defense of the property of the rich:

"The most powerful American publisher, William Randolph Hearst, seemed to favor dictatorship. The Hearst empire extended to Hollywood, where Hearst that winter had personally supervised the filming of an upcoming hit movie called Gabriel Over the White House that was meant to instruct FDR and prepare the public for a dictatorship. The movie’s hero is a president played by Walter Huston who dissolves Congress, creates an army of the unemployed, and lines up his enemies before a firing squad. FDR not only saw an advance screening of the film, he offered ideas for script rewrite"(Ibid., p. 6)

Ist US fatality in MRAP in Iraq - Force Protection slides

Bombed out.

The US Army is making a huge investment in MRAP, the new Mine-Resistant Ambush-Protected armoured vehicles in an attempt to reduce casualties from roadside and culvert bombs in Iraq.

On Saturday the first US soldier was killed inside an MRAP (Type and Manufacturer unknown) . A gunner was killed and three crew members were wounded when a vehicle drove over a homemade bomb buried beneath a road southeast of Baghdad - it is reported to be a 300lb fertiliser based bomb triggered by pressure of the 18 ton behemoth. (picture above is another attack - none available up to press)

They vehicle and crew were taking part in an operation clearing Al Qaeda in Mesopotamia (?) insurgents from southern Arab Jabour, a rural, overwhelmingly Sunni area less than 10 miles southeast of Baghdad on the Tigris River.

100,000 pounds of bombs had been dropped prior to the attack to clear the ground because of the known dangers of buried bombs and IED's. (!)

Forensic bomb teams examined the site and the vehicle to see iof they could detect any design flaws in the vehicle and as they do with every such device to learn about devlopments in bomb desig, placement and triggering.

Defense Secretary Robert M. Gates singled MRAP's out in his holiday-season message in December, saying, “To ensure that troops have the best protection available on the battlefield, MRAPs became the military’s highest acquisition priority, and thousands of these vehicles are in production and en route to theater.” In May , Congress authorized $4 billion for a project.

Only last week Gates toured an assembly facility for MRAP's at Force Protection's plant in Charleston, S.C., where they are the 2nd largest employer turning out 200 vehiclesMRAP vehicles a month - basically an extremely heavily armoured MAC truck chassis, a month.

Gates has described them as “a proven lifesaver on the battlefield.” He cited Army reports that there had been 12 attacks on the vehicles with homemade bombs since a push began last summer to send more of them into combat zones, mostly in Iraq. No soldiers died in those attacks, he said.There are more than 1,500 MRAP's of them in Iraq now, and the military plans to purchase more than 15,000 of them at a cost of $22.4 billion.

Since last summer, however, Force Protection Inc. (FRPT) a startup company who were early into the market for MRAP's with 2 vehicles , the Cougar (UK version called Mastiff) and the Buffalo, (US$600K - 800K per pop) based very much on previous South African designs for bomb proof people carriers. FRPT has steadily lost market share to larger rivals managed by veterans in the manufacturing industry. Navistar (NAVZ ) and BAE Systems now rank as the leaders of the multibillion-dollar MRAP program. CEO Gordon McGilton cashed out most of his Force Protection stock early last year, when he exercised 1 million options -- right after they vested -- selling the underlying stock at - ($US30) nearly five times the current share price . He retains just a minor stake in the company and the company announced his retirement 8th January he retires from the Company effective January 31, 2008.

FRPT announced a $74,130,482 million contract for integrated logistics support (ILS) on the Company’s Cougar MRAP Category I and Category II vehicles with the US marine Corps on Thursday 17th January 2008.

Bombed Out


Previous posts by Lord Patel on MRAP


UPDATE 12.45 EST This story has already been visited by West Point, Raytheon and Batelle amongst others.... and the House of Representatives has spent many ahappy hour rooting about inthe cellar.

See this article about a visit to the Force Protection plant last week. "The MRAP's size and weight also makes it difficult to chase the enemy down narrow roads, over unstable bridges, or across rough terrain. Citing those reasons, along with the improved security environment in western Iraq, the Marine Corps will buy just 2,300 of the vehicles instead of the 3,700 it initially planned on. The Army still wants 10,000 MRAPs, but like the Marine Corps plans to keep its more mobile Humvees" the article aso claims At least 487 U.S. troops died in Iraq last year from IEDs, roadside bombs, cars bombs and other explosives.

The Cougar can hit 65 at full speed. In Iraq, where temperatures run high, drivers don't go more than 55 to avoid overheating the tires. The truck gets about six miles to the gallon.

The Cougar and a much larger Force Protection-built MRAP called the Buffalo have been attacked more than 3,000 times. There have been only 3 recorded American fatalities. (So the headline may be wrong) In one case, a service member who was not wearing his seat belt was killed when the bomb exploded near the vehicle....
.

Killing 100,000 calves at birth concentrates the minds of Ministers, farmers and Supermarket meat buyers

When Sherpa Tensing was showing Edmund Hilary up Everest, the dairy farmers of the UK's fields were decorated with brown and white Aryshire cows, and bulky well built Friesians that would yield milk for 7/8 years. Milk yield per cow was in the region of 5 gallons of milk per day , plus a useful beef product at the end of it's life , there was also a thriving although small veal trade.

Now the milking herds which feed the supermarkets who control the domestic milk trade rely on the Holstein milk machines which can yield 120 litres per day, but may be so worn out they only serve 3 lactation cycles. The average Holstein cross cow now produces a lifetime 8,285 litres against just 4,000 litres in 1974.

These sedentary cows never see grass, they are kept indoors , fed (up to now) on the subsidised , but increasingly expensive grains that the barley barons have so effectively produced.

Cows need to breed to produce milk and a consequence is 160,000 male calves are born every year. Currently 100,000 or 2,000 a week are simply shot at a day old. Now that live exports restarted in May last year after the ten-year ban EU BSE beef ban the remainder are sent to the continental veal trade ( and fetch some £50 each - £200 before BSE hit the herds) where after removal from their mother at birth and shipment they are left a short (8 week) life fed, not on mother's milk but a high protein diet and a lonely life to prevent too much exercise and resultant growth of connective tissue (gristle) to provide the perfect pink veal cutlet.

Then the the foot-and-mouth outbreak in August stopped all live beef exports and the shooting of worthless day old calves made a quantum jump.

There is a small organic veal trade in the UK which forms 0.1% of the retail meat trade, almost exclusively to the Metropolitan restaurant trade.Now the Gubment want to boost this trade and A Beyond Live Exports working group chaired by Lord Rooker, the Minister for Farming and Animal Welfare, wants to develop a national production scheme that ensures the rearing of a calf from birth until it is ready for slaughter in optimum welfare conditions. "On the hook, and not on the hoof" is the PR mantra from DeFRA about this desire to change export policy on calves.

They working group identified two targets - the production of rosé veal, where calves will live outdoors, be fed on a mixture of grass and milk and slaughtered at 10 to 12 months. The other is for calves to be fattened on grass until they are 16 to 19 months, to produce young beef - which with the current obession with Holsteins is simply impractical.

Heather Jenkins, the head of meat buying at Waitrose is keen on their Calfline project to promote UK veal and Tesco are promoting organic rosé veal this spring.

Duncan Sinclair, head of agriculture at Waitrose, told the annual Semex Dairy Conference in Glasgow (13/15 Jan 2008) that the Calfline scheme appealed to consumers, because it offered a realistic alternative to exporting dairy calves to Continental veal units.

"The future will bring more of these schemes," forecast Mr Sinclair. ``Issues for consumers now include climate change and the impact of globalisation. Schemes built around a relationship between farmers and retailers add value to food and they certainly increase customer appeal," he said.

Duncan Sinclair is a bit of a conference groupie he is addressing British Cattle Conference, 2008 in hrewsbury today in on the subject The Native Breeds - Is it time for a revival?and you can catch him at Keele University on 5th February talking about - “A Retailers View of Sustainability” - you can also read about how Waitrose work with the beef industry here see pic.

It is interesting that the British Cattle Conference kicks off this morning with a presentation Reinventing Dairy Beef by Kev Bevan, Senior Rural Business Consultant, Scottish Agricultural Services - SAC Select Services, Auchincruive, Ayrshire kev.bevan@sac.co.uk

The abstract in the program reads ..."The UK and EU have a structural beef deficit that is expected to grow in coming years with South American imports predicted to fill this deficit. This gloomy outlook, however, need not arise if new breeding technologies can be allied to enlightened supply chain management to lift the value of beef from Holsteins."

The Conference will also hear about the rising threat from South America Beef Production in Brazil - Threat or Opportunity? by Professor José Fernando Piva LobatoAssociate Professor of Beef Production Systems, University of Rio Grande do Sul, Brazil. It is therefore interesting that two "workshops" will discuss, during the conference the propositions ;'This club believes we should breed a dual function dairy cow' and 'This Club believes we should breed beef composites'

Straw in the wind ?

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.

Tony Blair - War criminal, the evidence - Amazing Pictures

We don't steal pictures often but this comes from here and would make a good T shirt to travel on a plane journey to Tel Aviv.

By the way, did you know that Ruth Turner who sold the honours, worked ..er.. hand in glove with the King of Karaoke, did the paperwork, stalled Commander Yates, told lies, is now Tony's ..er... personal assistant ? News reaches Lord Patel that she is very personal with her assistance.

Red Ken - Drunk in Charge

If you watch Martin Bright's Dispatches documentary on Channel Four tonight you will read Tom Griffin's posting about Dean Godson's neoconservative crowd at Policy Exchange.
and the history of the Godson family / father (US labour attache at the London Embassy) / brother, and their fascinating role in post war political smears - including the work of Brian Crozier (Institute for the Study of Conflict) , Lord Chalfont (who gave Dieogo Garcia (less it's troublesome inhabitants) , Woodrow Wyatt squirrel expert and father to the luscious Petronella AKA "Petsy" bicycle of the right and the mother of Boris Johnson's aborted love child, and latterly to David Frum, Telegraph/Spectator writers Charles Moore and Frank Johnson who have been so helpful to Martin.

It doesn't mean of course that Red Ken isn't a conceited, hopeless, arrogant and aggressive drunk who has happily diverted his gaze whilst some of the people who surround him have continued to benefit remarkably from having their hands in the trough of GLA funds... or benefit from ... well ... the Olympics is going to benefit many.... many people with interests in the Thames Estuary.. and they aren't all Ken's friends.

There is not shortage of shits, shysters and free - loaders amongst the Metropolitan muttering classes.

Kenya - Civil Society .. rapidly becoming very uncivil

Alexis De Tocqueville was fascinated by American society and famously remarked in his 2 Volume Democracy in America "The very essence of democratic government consists in the absolute sovereignty of the majority; for there is nothing in democratic states that is capable of resisting it."

His notions of "civil society" have fed the concepts of a fair, industrious, democratic society - something that is exmained in the latest volume of the Dag Hammarsskjold Foundation's latest issue of "development dialogue" (No 49) which just thundered through the letter box.

Naturally, considering the news from Nairobi, Steve Ouma on " Civil society and the nation state - The case of Kenya" caught our attention.

He quotes Makau Mutua's *** speech to the Human Rights in East Africa shindig organised by the wealthy Ford Foundation in Nairobi in 2004 in support of his view that ...

"In Kenya...the emergence of civil society organisations in both form and character is fairly recent ...Without civil society , those in power turn into despots"

and also

" The Kenyan background demonstrates the role of the civil society institution within the national democracy"

Views probably endorsed by President Kibaki (250,000 displaced in excess of 600 people killed up to press) as his Foreign Minister Moses Wetangula summoned Britain's High Commissioner Adam Wood to express displeasure.Officials are particularly irate at comments by beautiful, pouting, glamorous Sheffield MP Meg Munn, Parliamentary Undersecretary of State for the Foreign Office (Hansard) , that Britain has "not recognized" Kibaki's government.

"Our elections don't need a stamp of authority from the House of Commons," Moses protested to reporters.

However Mr Ouma's breezy,delightful optimism is hardly worth remarking on save he has introduced us to a useful, novel and one trusts a classification of Non Governmental Organisations (NGO) which as an ex-taxonomist ( well part time) we can recommend.

DONGO's Donor organisded NGO's
MONGO's My own NGO
GONGO's Government owned NGO's (!?)
FANGO's Family onwe NGO's
FONGO's First Lady NGO's (eg No Child Left behind ?)

*** Makua Matua SUNY DISTINGUISHED PROFESSOR AND FLOYD H. AND HILDA L. HURST FACULTY SCHOLAR , University at Buffalo Law School)

In 2002-03, while on sabbatical in Kenya, Professor Mutua was appointed by the Government of Kenya as Chairman of the Task Force on the Establishment of a Truth, Justice, and Reconciliation Commission. The Task Force recommended a truth commission for Kenya. During the same time, Professor Mutua was a delegate to the National Constitutional Conference, the forum that produced a contested draft constitution for Kenya.

He will shortly be publishing Human Rights NGOs in East Africa: Emergent Themes, Challenges and Tensions

Meg Munn ( another wretchedly sunny optimist) chuntered on in the debate about Kenya ..."The fundamental issues that need to be addressed remain the same. All the allegations of fraud during the elections should be fully investigated. Those who are found to have acted illegally and contrary to the principles of democracy should be held to account (By whom, How, when ? Ed.). That also applies if they are found to have instigated or orchestrated violence, as has been alleged. The possibility of auditing the results of the election should be examined (Ho.Ho.Ho.), although we recognise that the original data may no longer be available. In the longer term, it is important that there is institutional reform to reduce the risk that the events of late December might be repeated."

The BBC report on Kibaki his PNU party and the Mount Kenya Mafia ..Defence Minister Njenga Karume, Nairobi university chancellor Joe Wanjui, and big time investors Nat Kangethe, accountant and never far from with Joseph Kanyago Chairman of Express Kenya, East Africa Couriers, East Africa Elevators (OTIS), Toyota Kenya Foundation and the Kenya Medical Supplies Agency (KEMSA). and Nick Wanjohi ...not forgetting Naushad Merali from the Moi era - who bought the Vivendi Telecom International shares in KenCell at $230 million and sold them to Celtel the very same day for $250 million, making a cool profit of $20 million ....principal shareholder is is retired President Moi's Sameer Investments with Directors P.K. Jani and H. Da Gama Rose.... nor should we pass over long time Kibaki ally and financier of his election campaigns, Eddy Njoroge, the managing director of the Kenya Electricity Generating Company (KenGen).




Kibaki's inner group also include the vice chancellor of the Jomo Kenyatta University of Agriculture and Technology. Others in this group include Alex Mureithi, the presidents’ nephew, Machira Gichohi, the Managing Director of the Kenya Dairy Board, Jean Kamau, a prominent lawyer working at the International Republican Institute and lawyer Lee Muthoga.

There is also the “Muthaiga Club” going back to 1992 and Kinaki's first stab at election, Julius Gecau who was connected with Kenyatta but fell out with Moi, Nat Kang’ethe of MCL, Saatchi and Saatchi, the international public relations firm, Eddy Njoroge the managing of Kengen, Peter Kanyago, a businessman and chairman, Othaya Development Group, George Muhoho, tha Managing Director Kenya Airports Authority, Duncan Ndegwa, former Central Bank Governor.

Lee Karuri an architect is also a leading Christian and with George Muhoho
a former priest (now MD Kenya Airports) represents it might be said their connections with the faithful.

There are also the Young Turks alumni of Nairobi’s Saint Mary’s School for the pampered children of the very rich including Alfred Getonga son of Simeon Getonga late Town Clerk of nairobi, the Presidents 2 son, Jimmy and David, and their ever present sister Judy Wanjiku.

To whom we can add, John Macharia, son of media tycoon S.K. Macharia of Citizen Media Group and director of Triple-A-Capital , George Thuo CEO of the City Hoppa bus company, and Mr Francis Michuki, son of Transport minister John Michuki.

Northern Wreck - Making money whilst the clouds gather in the City

The Treaury has issued a regulatory announcement regarding Northern Rock " HM Treasury, on behalf of the Tripartite Authorities, today announces the basis on which the Tripartite Authorities are taking forward discussions with the Board of Northern Rock ...." which you can read at the LSE website.

The Treasury have also issued a bland self congratulatory Press Statement on their Website which sensibly glosses over the fascinating detail of the results of burning the midnight oil in the City.

Probably the most notable feature of these announcements is the continuing delay, dither and extended window provided for City "advisors" , a mixed bag of lawyers , bankers , brokers, shysters and snake oil sales men can continue to bleed the company and the UK taxpayer of funds.

Amazingly both current private sector bidders , the bearded wonder and Luqman are charging the shareholders of Northern Rock all their costs in preparing a sutiable plan to get their hands on £25 Bn upwards of Government Funds. Those costs plus the circling cloud of advisors have probablyseen their income exceed £50 Mn since the end of August.

We are now offered a timetable .."a restructuring plan to be submitted to the European Commission by 17 March 2008 " ... "detailed proposals ... must be received bythe Tripartite Authorities by 4 February 2008" , very much at odds with the hasty weekend decision to offer tax payers money to fund the criminal Directors, who issued fraudulent accounts, issued dividends they couldn't pay (which had to be stopped on Gubment advice) and enriched themselves in various other ways.

It is worth noting that the interim results which contained and sustained that dividend payment were issued on July 26th , 25 days after their half year end - such was their haste to take advantage of the Basel II agreements on Capital structures.

Sacks of Gold have now come up with a wizard wheeze that converts the current Taxpayers loans with the issue of bonds guaranteed by the taxpayer ... and sufficient funds to continue trading. A total exposure for the UK taxpayer exceeding £50 Bn. and maybe even more.

Meanwhile as this leisurely fumbling and bumbling , evasion and failure to make decisions continues ..."The existing HM Treasury guarantee arrangements remain in place. Savers' money remains safe and secure." ... any saver (and indeed shareholder) with any sense will have withdrawn their dosh and done a runner long, long ago. Evidently no-one elses's money is safe or the Treasury would have said so.

A simpleton's guide to Brown / Balls / Darling / Sack of Gold wizard scheme.

1.Bundle whatever assets are left in Norther Wreck over which anyone else has prior claim (Granite and SIV's ect) "residential mortgages, unsecured consumer loans and
certain investment-grade securities," the Treasury describes this disparate collection of near assets.

2. "A financing vehicle" would fund the purchase this ragbag by "the issue of notes in the capital markets" ..."guaranteed by HM Treasury " ... for which HM Treasury gets first dibs ..." a first priority interest in the asset pool" when it all goes tits up (hopefully after the next election)

3. Naturally conditions apply for the lawyers to earn vast fees (again) ..."a robust
and acceptable business plan" Ho.Ho.Ho. "the documentation would need to contain appropriate covenants in favour of HM Treasury to protect its interests " etc., etc., Luvvly Jubbly.

4. "ownership of the company and fulfilment of its management roles by suitable persons" ... No wonder the bearded wonder is not actually a Director of Virgin Money (However that illusory and much traded company is currently defined / valued / owned / managed )

5. HM Tresury Equity Participation: "HM Treasury would require an appropriate share in
potential upside equity returns of the company." Ho.Ho.Ho.

6. Let out clause ..."Implementation of the financing structure would follow receipt of the necessary state aid authorisation." Built in blame of those nasty faceless bureaucrats in Brussels.

7. CONTINGENCY PLANNING (Note the caps) Prudence has been at work again ..." the Government would bring forward legislation which " ...."transfer Northern Rock's share capital, including its preference shares, into public ownership"

Finally, if the dreaded "N" word has to be used ..."In the event of Northern Rock being brought into temporary public ownership, it would be managed on arms' length terms, as a commercial entity, by a newly appointed experienced and professional management team." ... which makes one wonder why this route is currently not a viable or sensible one ... albeit as Vincent Cable endlessly points out it is the "least worst option".

To keep the Labour MP's happy (and no doubt Labour voters in the North east ) ..."Any decision or announcement to take Northern Rock into temporary public ownership would also address the future of the Northern Rock Foundation."

Goldman Sachs International ("Goldman Sachs"), " is acting as financial adviser to members of the Tripartite Authorities " ... and is adding vast sacks of gold to their stores ... why worry ? Why hurry ? When you have found a cow to milk ... keep on milking it.

PS : Toni Fabuloso has just appeared with the coffee and remarks, " If I want to lend money secured by HMG - I can buy Gilts ... and any capital gain is tax free ". The mention that HMG is talking of "potential upside equity returns of the company" is met with a snort.

Sharp lady ... and makes a very fine bacon buttie .. the sounds and smells of which are happily apparent....

PS : The Daily Mail calculate ( how, they don't explain) that Sacks of Gold could clear £25-£50MN from brokering such bonds ... naturally of course there will be a Rights issue , new shares issued which Sacks of Gold and the rest of the City will boost as the new revitalised, sooper dooper , get in at the beginning , fill ya boots for the savvy investor and stuff (yet again the credulous and the "smart money" investors a little bit down the line. fees, fees, and yet more fees.

Don't think of Northern Wreck as a disaster - as Churchill said of Dunkirk it provides a "springboard for opportunity".

UPDATE 5.30 pm BST : Chancellor of the Exchequer - Darling interviewed on BBC4 "PM" admits after much harasing byEddie Mayor that the taxpayers loans / exposure / guarantees are without limit on time and value.

FSA stands by as NR shares increase in value by 33% as a result of overnight statement to 94 pence (ish) .. how can anyone believe there is a "normal" market" in the shares ?

UPDATE : 11.30 pm BST Read Richard Murphy at Tax Reserch on the ultimate and useless Paradox ..."The guarantees will only be called in if Northern Rock has made further losses, but at that same point in time it will not have the resources to pay either the fees or interest due to the government. As such the claimed benefits of this deal exist only on paper, they can never be realised."