An Open Letter to Mr Osborne

[mat]

Wanted something bit more exciting like Rothschild burns homeless children to heat his home

That could be in the David Icke thread...

 

[twinkletoes]

If you actually leave your ideologies to one side and look at things as they are, then this type of thing shows you why governments do what they do.

 

[twinkletoes]

Just waiting for my daily story on a banker doing something wrong

[youtube]http://www.youtube.com/watch?v=TnpuWSFnDQ4&feature=share[/youtube]

Wanted something bit more exciting like Rothschild burns homeless children to heat his home

Financial crisis to deepen extreme poverty, increase child mortality rates – UN report

3 March 2009 – The global financial crisis sweeping through Wall Street and the European banking sector will touch the lives of the world’s most vulnerable, pushing millions into deeper poverty and leading to the deaths of thousands of children, according to a new United Nations study.
Reduced growth in 2009 will cost the 390 million people in sub-Saharan Africa living in extreme poverty around $18 billion, or $46 per person, warned the report by the UN Educational, Scientific and Cultural Organization (UNESCO).

“This projected loss represents 20 per cent of the per capita income of Africa’s poor – a figure that dwarfs the losses sustained in the developed world,” UNESCO stressed in a press release.

The study, prepared by the Education for All Global Monitoring Report (GMR) team, was presented yesterday at the first session of the UNESCO Future Forum, aimed at analysing the consequences of the present financial and economic crises for international cooperation in general and on education, the sciences, culture, communication and information.

It documents the potential impact of the current worldwide economic meltdown on the Millennium Development Goals (MDGs), internationally agreed targets to eradicate poverty and reduce child mortality among other human development objectives.

The report highlighted the prospect of an increase of between 200,000 and 400,000 in infant mortality and that child malnutrition, already rising, will be one of the main drivers of higher child death rates.

“Millions of children face the prospect of long-term irreversible cognitive damage as a result of the financial crisis,” said Patrick Montjourides, one of the authors.

The world’s poorest countries are unable to insulate their citizens from the crisis, with an estimated 43 out of 48 low-income countries incapable of providing a pro-poor government stimulus, according to the report.

There is also a real danger that some low-income countries which have made progress towards the MDG of universal primary education will suffer setbacks. The at-risk group includes Mozambique, Ethiopia, Mali, Senegal, Rwanda and Bangladesh.

Increased international aid could help reduce fiscal pressure, but aid development assistance budgets are coming under increased pressure. The European Union’s aid commitment to provide 0.56 per cent of GDP in aid by 2010 is rapidly losing value with lower growth projections. The real financial value of the commitment in 2010 will be $4.6 billion lower, according to the report.

“We cannot allow rich countries to use this crisis as an excuse to turn their back on the world’s poor,” said UNESCO Director-General Koïchiro Matsuura. “Measures to revive growth and fix the financial system must be coupled with greater efforts to tackle the structural problems of extreme poverty and inequality.”

One of the report’s authors, Kevin Watkins, stressed that “Aid donors could clearly do far more to protect the world’s poorest people from a crisis manufactured by the world’s richest financiers and regulatory failure in rich countries.”

He compared the estimated $7 billion needed in increased aid for low income countries to meet key education goals with the $380 billion in public money injected into banking systems in last quarter of 2009.

The authors of the report called for a concerted international effort to limit the impact of the financial crisis on the poor, including an increase of over $500 billion in International Monetary Fund (IMF) special drawing rights, along with governance reforms to give developing countries an increased voice, as well as the EU to provide a $4.6 billion aid adjustment.


<a class="postlink" href="http://www.un.org/apps/news/story.asp?NewsID=30070" onclick="window.open(this.href);return false;">http://www.un.org/apps/news/story.asp?NewsID=30070</a>

 

[The Flash]

[youtube]http://www.youtube.com/watch?v=TnpuWSFnDQ4&feature=share[/youtube]

Wanted something bit more exciting like Rothschild burns homeless children to heat his home

Financial crisis to deepen extreme poverty, increase child mortality rates – UN report

3 March 2009 – The global financial crisis sweeping through Wall Street and the European banking sector will touch the lives of the world’s most vulnerable, pushing millions into deeper poverty and leading to the deaths of thousands of children, according to a new United Nations study.
Reduced growth in 2009 will cost the 390 million people in sub-Saharan Africa living in extreme poverty around $18 billion, or $46 per person, warned the report by the UN Educational, Scientific and Cultural Organization (UNESCO).

“This projected loss represents 20 per cent of the per capita income of Africa’s poor – a figure that dwarfs the losses sustained in the developed world,” UNESCO stressed in a press release.

The study, prepared by the Education for All Global Monitoring Report (GMR) team, was presented yesterday at the first session of the UNESCO Future Forum, aimed at analysing the consequences of the present financial and economic crises for international cooperation in general and on education, the sciences, culture, communication and information.

It documents the potential impact of the current worldwide economic meltdown on the Millennium Development Goals (MDGs), internationally agreed targets to eradicate poverty and reduce child mortality among other human development objectives.

The report highlighted the prospect of an increase of between 200,000 and 400,000 in infant mortality and that child malnutrition, already rising, will be one of the main drivers of higher child death rates.

“Millions of children face the prospect of long-term irreversible cognitive damage as a result of the financial crisis,” said Patrick Montjourides, one of the authors.

The world’s poorest countries are unable to insulate their citizens from the crisis, with an estimated 43 out of 48 low-income countries incapable of providing a pro-poor government stimulus, according to the report.

There is also a real danger that some low-income countries which have made progress towards the MDG of universal primary education will suffer setbacks. The at-risk group includes Mozambique, Ethiopia, Mali, Senegal, Rwanda and Bangladesh.

Increased international aid could help reduce fiscal pressure, but aid development assistance budgets are coming under increased pressure. The European Union’s aid commitment to provide 0.56 per cent of GDP in aid by 2010 is rapidly losing value with lower growth projections. The real financial value of the commitment in 2010 will be $4.6 billion lower, according to the report.

“We cannot allow rich countries to use this crisis as an excuse to turn their back on the world’s poor,” said UNESCO Director-General Koïchiro Matsuura. “Measures to revive growth and fix the financial system must be coupled with greater efforts to tackle the structural problems of extreme poverty and inequality.”

One of the report’s authors, Kevin Watkins, stressed that “Aid donors could clearly do far more to protect the world’s poorest people from a crisis manufactured by the world’s richest financiers and regulatory failure in rich countries.”

He compared the estimated $7 billion needed in increased aid for low income countries to meet key education goals with the $380 billion in public money injected into banking systems in last quarter of 2009.

The authors of the report called for a concerted international effort to limit the impact of the financial crisis on the poor, including an increase of over $500 billion in International Monetary Fund (IMF) special drawing rights, along with governance reforms to give developing countries an increased voice, as well as the EU to provide a $4.6 billion aid adjustment.


<a class="postlink" href="http://www.un.org/apps/news/story.asp?NewsID=30070" onclick="window.open(this.href);return false;">http://www.un.org/apps/news/story.asp?NewsID=30070</a>

And has this doom come to pass? Or is it just another copy and paste of a years old report?

Oh, it's the latter.

 

[twinkletoes]

Is it.

 

[Ronnie the Rep]

Is it.

Dated 3rd march 2009

 

[twinkletoes]

Is it.

Dated 3rd march 2009

So it must be bullshit then.

 

[Ronnie the Rep]

Is it.

Dated 3rd march 2009

So it must be bullshit then.

No, not at all, the question was has this all come to pass, or was it an old article. Both might be true!

 

[metalblue]

This is an interesting thread, I've been following the Precious metals market for years and there is a tonne of reports out there which provide pretty strong evidence that the market has been manipulated for some time. As with most things in the financial markets it is near on impossible to prove so you have to make up your own mind.

This article does a pretty good job of summarising the anomolies in the gold market. Price goes up during Asian hours and down during US market hours...but the overall price trend is up. Over an extended period of time that type of consistant trend makes no sense when you are in a bull market. http://www.minyanville.com/business...ices-invest-gold/8/30/2010/id/29856?page=full

This pattern was so predictable and consistant that a couple of guys programmed an algorithm to frontrun the "manipulation" and did very well out of it (I will post the article if I can find it)

Here is an article pinpoints the shennanigans that has occured inthe silver market, this is just one instance of it but there are plenty more exampleshttp://www.zerohedge.com/news/catching-silver-crusher-algorithm-act

Eric Sprott and his business partner John Embry have been talking about this for years. These guys are no conspiracy theorists,their company manages over $8 billion in assets, if you want to find out more about the silver manipulation take a look at some of these guys articles or clips on youtube.
http://kingworldnews.com/kingworldn...xes_From_The_70s_Wont_Stop_This_Disaster.html

Asia hours don't match europe hours liquidity so you will get more pronouced moves if you absolutely must get something done during those trading hours....even so it's much better than it used to be. Anybody benefitting from that is not "front running" (that's a very different thing) they have spotted a pattern that they feel is predicatable and trade accordingly...many markets have these but over time they are normally what we call "zero sum games" in that eventually the market will disprove your theory enough times that you give back any money you make - it's happened to me enough times! If you are looking at any trend you will see periods within that trend where the market moves counter to the overall trend, it really isn't "suspicious" at all.


The "shennanigans" are based on the (realitively) new electronic markets and computers are able to spot pricing differences and "arb" accordingly (something previously the domain of the human)...the fact this all occured within a fraction of a second on a single occassion (reported) doesn't indicate a wider and sustained attempt at manipulation but I wouldn't discount completely the ability for somebody to slow one market down and benefit from it - I would say this is something that would be normally dealt with by the exchange (for example I can only submit a limited number of requests per second so could not do what is being alleged here).

That's not to say the "markets" are a last bastion of good will/practice and I have plenty of examples of "questionable" behaviour...just one example is trading crude (prior to it being an electronic market) I would often enough for me to notice not get a fill unless it traded through my price, it's a process that works like this:

Trader on floor get's my order of sell 100 crude @ $105
Market trades @ $105 trader sells my 100 crude...fill not given to me
Market trades @ $104.95 trader buys back the 100 crude sold @ $105
Market trades @ $105 trader sells my 100 crude again...fill not given to me
Market trades @ $104.95 trader buys back the 100 crude sold @ $105
Market trades @ $105 trader sells my 100 crude for a 3rd time...fill not given to me
Market trades @ $105.01 i get my fill

Trader makes $0.10 per bbl (which equates to $10,000) for no risk...it's completely against the rules of best execution and the trader should be sacked at the very least...chances of me "proving" this is happening? close to zero, trader will argue that he had "selling ahead" of my order and I was in the queue.

 

[twinkletoes]

@metalblue - Can you recall (change) a trade and it still have an effect on the price of say silver for instance?