Cyprus - Legalised theft?

My financial knowledge is limited to housekeeping. I try to manage any spare cash effectively, but that is getting increasingly difficult with the abysmal interest rates which mean that everyone is effectively losing money on savings. Inflation & quantitative easing is eating away at the value all the time.

That is bad enough to my generation, which was used to seeing their savings grow year on year. We have had to get used to the banks changing their terms & reducing interest with very little notice. What has just happened in Cyprus seems to me to move the whole thing into a completely new ball game.

Cyprus was exposed to 22 billion euros of Greek debt. Half of their total bank deposits, (60 billion euros), were from wealthy Russians using Cyprus as a tax haven. Their credit rating went down to junk. Their bonds were not accepted as collateral. They followed Greece, Ireland, Portugal & Spain in the bailout route. Their whole banking system, along with so many others, was about to collapse. Basically they are insolvent & if they were a company they would go into administration

The solution was they closed the banks & stopped people having access to their money. The next good idea was to impose a levy on all depositors money. Unsurprisingly this did not go down well. This is the point where to my mind it becomes theft, and still could happen in any of the countries going through this long drawn out economic crisis.

The majority of ordinary people work for their money. They are taxed on their earnings, taxed when they spend money on daily living, taxed on their savings & taxed when they die. The state gets a substantial amount from most people one way or another. In principle I accept that. I also accept that there may be a need for restricted access to prevent panic & a run on a bank.

What I don't accept is the States right to simply take any sum they decide from investments in a bank to rectify their colossal mismanagement of the economy.

These problems didn't happen overnight. Who was minding the store? Do the people minding the store actually know what they are doing? I don't see any evidence to support the idea that they do.

At best this shambles is mismanagement, at worst it is criminal negligence. Why haven't we seen any heads roll? Instead of filling our prisons with many people who actually need help, it seems to me that quite a few of the senior people who are supposedly in charge should be held to account for the misery they have caused. If not prison, then make them give back a sizeable percentage of their outrageous salaries & bonuses to re - float the economies they have ruined.

Falklands / Malvinas = Falvinas

I have blogged before about the inappropriate randomness of man made frontiers & borders. I think I have also revealed my attitude to the problems caused by European colonisation. Much of this has resulted in long, ongoing, serious, problems, even wars, based on the illogicality.

The history of the Falklands / Malvinas, is very complex & is a good example of this. In short, they were uninhabited & then came under the rule of various European countries seeking routes & wealth. The Dutch were the first in 1600 -> then Captain Strong in 1690 -> followed by the French founding Port Louis in 1764 -> in 1765 Captain Byron founded Port Egremont -> in 1770 the Spanish expelled the British. There is more, but I'm sure you get the picture.

With a history like this who is to say who the islands belong to? At least four countries, probably more, appear to have a claim. The basic flaw, it seems to me, is assert that to  land somehere gives you rights of ownership. In this case it is more complicated because there was no indiginous population with a prior claim.

The islands are nearest to Patagonia in South America, which is partly in Argentina & partly in Chile. So, simplistically it seems logical that maybe they should govern the island. Particularly as there are huge populations of both British & Welsh people living there. The current British population monopoly could possibly change if people from Patagonia decided to emigrate to the Falvinas! Then what would happen to the vote just taken?

Other, even more illogical, similar, examples include Cueta & Melilla which are Spanish enclaves in Morocco. Ditto Gibraltar the British enclave in Spain. Cueta was conquered by Portugal in 1415 & ceded to Spain in 1668. Melilla was conquered in 1469. Gibraltar was conquered by an Anglo Dutch  force in 1704 & ceded to England in 1713. (Enclave - a piece of land which is totally surrounded by a foreign territory).

I doubt any of these disputes over sovereignty & borders will be solved in the short term. Alpha males are very territorial. That doesn't mean that the situation really is irreconcilable. Hopefully, in future, someone with more sense will be in power and negotiate.

Selfishness, Greed & Stupidity or The Naughty Bankers

The news story regarding the current monetary crisis in Cyprus is just the latest bad news in a long list since the start in 2007. If you are sitting comfortably I will begin...

Once upon a time greedy, selfish & stupid bankers thought up a good wheeze to make lots of money, (for themselves). There was a real estate bubble & house prices had risen to unheard of heights. Clever financiers decided that everyone, even those who couldn't afford it, should be given money to buy a house. They called this "Sub Prime" lending. A better title would be "the Emperors New Clothes".

The forclosures resulting from this started the whole "Credit Crunch" and led to mega bank failures & a huge asset decline in value which has affected everyone worldwide. Underlying this was a spectacular failure in financial regulation, which allowed excessive risk & borrowing.

But it wasn't just the naughty bankers. It was us too. We had got used to living on credit cards & spending more than we could afford. We wanted "stuff" & we wanted it now. The nasty banks quite liked that because it meant lots of interest when we couldn't pay off our debts. So in effect the whole culture of the developed world was deeply flawed.

In reality the developed world is now insolvent. The debt liability is beyond comprehension. In order that we simple folk won't really understand what is actually happening, a whole new vocabulary has been invented by these clever financiers. "Quantitative Easing" just means printing lots more money we haven't really got.
http://en.wikipedia.org/wiki/Causes_of_the_2007%E2%80%932012_global_financial_crisis Wikipedia, as always, gives  more detail.

Where do we go from here? I don't know, but I'm not optimistic. Who can we really trust to give us the real facts? Not bankers, or politicians, or even the media. We have reached a stage of complexity in the developed world where I fear we are set on a course it will be almost impossible to recover from.

This isn't a fairy story - there is no happy ending.

http://sorisomail.com/email/238743/o-politico-que-representa-realmente-a-populacao.html A friend sent me this - thank god I'm not alone.

Intermittant Fasting

http://www.beliefnet.com/Faiths/2001/02/Fasting-Chart.aspx#
Although I'm not in religious in the conventional sense, I am interested in the belief systems of different religions and I found the above chart interesting. Fasting - self denial / giving up. Christians do it for the 40 days of Lent & Muslims do it for 29/30 days in Ramadan.

I started intermittant fasting yesterday for much more mundane reasons. I know I have got into unhealthy eating / drinking habits & put on too much weight. Apart from the look of an overweight body, I know it is bad for my health. My self image is definitely slimmer & I can no longer ignore the tightness of my trousers!

I think I can do this because after one of the two fasting days a week I know I can eat normally within reason. I might be able to get into the habit of eating more sensibly on the non fasting days. It's even possible I will be able to ignore the biscuit & cake tins & the crisps & nuts. But I can go out with friends for a meal & eat & drink anything I want & counterbalance any excess by fasting the next day.

A lot of eating is habit. Meals at certain times of day. Cups of tea / coffee / hot chocolate with a couple of biscuits. Savoury snacks with a glass of wine. I find sweet things like chocolate and salty snacks addictive. I am totally incapable of eating just one chocolate. The pleasure centres of my brain send strong messages to my mouth & I can't stop.

There is a battle going on in my head between the self that says - who cares, you're 68, food is one of the chief pleasures in life, and the self that says -  you care about what you are doing to yourself by over eating. At the moment the former is winning. But it's only been one day. I need to make this a permanent way of life. So I won't replace or buy the things I know I want to avoid. I've even bought green tea!

The Purpose of Life

I've always been very task driven - prioritised lists, copious use of a highlighter, a need to be doing something worthwhile / useful during the day. The thought of watching daytime TV is anathema to me, although I do spend most evenings doing that. Although I've been retired since I was 46, I've had a string of challenging & interesting voluntary jobs.

Therefor I am finding it strange to be slowing down now that I'm 68. I am capable of whiling away hours on my computer, reading a book, doing a general knowledge crossword etc etc. Even more odd is the fact that although I may well be able to think of something meaningful to do, eg gardening, sorting out paperwork, cleaning out cupboards....I have a problem focusing my brain & making the effort to do any of it.

Days stretch ahead with nothing in particular to do, especially now that my work in Gloucester prison has ended because it has closed. It is entirely possible, even probable that I won't see anyone at all on some days. I don't have a problem with that. I do have lots of people who I enjoy seeing & doing things with. My calendar seems to fill up of it's own accord. But I do also enjoy the freedom of my solitude. I'm just puzzled that I seem to be changing.

The Calvanistic work ethic that has ruled my life up till now is losing it's hold on me. I have realised that people are more important than tasks. I know that the task will always be there, but the person won't. I have spent my life being reliable, conscientious, hard working & driven. I have paid a high price for that in terms of health & now am unable to do a lot of things.

Now I am trying to break the habits of a lifetime & enjoy myself doing what I really want to do, not what someone else expects me to do. I'm going to practice being selfish & put myself first.

The pity of it all is that by the time one realises all of this it's almost too late. I couldn't tell the young people that I know well that they are following the same path I did & it may have similar consequences. This degree of self knowledge only comes with experience. The young, quite rightly, go their own way, convinced that we are just too old to understand.

A New Pope

Having been within a few feet of a supposed living goddess last autumn when I was in Kathmandu, I am intrugued by the current process for electing a new Pope. Personally, I can't see much difference in believing that the Pope is a direct descendent of Saint Peter & the leader of the Catholic church, chosen by the intervention of God, & believing that a randomly chosen child is a goddess.

I won't go into the many aspects of Catholic belief which I find unacceptable. People are entitled to believe whatever they want. I don't mind so long as those beliefs don't impinge on me. I do have issues with Catholic practices all over the world throughout history, which give just cause for real anger. But, in fairness that could be said about most religions. What I do object to is the real harm some religious practice & beliefs has caused particularly in the developing world.

I do find I am unbelievably put off and annoyed by the footage of huge numbers of very elderly, male, cardinals & bishops in expensive dresses & hats parading up the aisles of churches as though they ruled the world. In fact, given the machinations of the Vatican throughout history, I suspect that is indeed what they think they should be doing.

I'm not surprised that that the church, of whatever denomination, but particularly Catholic, is losing it's membership. We are better informed than ever before. Our societies in the West have moved enormously in the direction of greater equality, fairness & justice. Why should we feel that these antiquated rituals, which are simply a construct of man for man, whose only purpose is to keep men in power, have any relevance to us today. It is discrimination of the worst kind because it excludes half of the population.

The church is blind to the fact that it's hierarchy has lost it's "raison d'etre" & a good job too. The pomp & splendour of the vestments is an affront to the ragged poverty of much of the world. As is the hoards of treasures & buildings owned by the church, when people haven't even got clean water to drink & children die in their thousands.

The church needs to wake up to the 21st Century. All wo/men are not equal but all wo/men should have equal opportunities. We are not all the same, but we are all simply human beings.

Cliche Comment

I'm really quite irritated when something has happened that shouldn't have and is followed by two commonplace cliches:-
"It will / must never happen again" or "We must learn lessons for this".

All of the history of human behaviour is littered with people who did things they shouldn't have, or people who have made mistakes. Sometimes, even people who did unspeakable things which are cruel & truly dreadful. Human beings are fallible, are motivated by the baser instincts, & can be completely self absorbed. Some are also mentally ill or less intelligent & don't see the consequences of their actions.

Life is difficult & imperfect. We become trapped in situations & don't always behave well or make good choices. Our ego's & desires push us to do things we shouldn't. I don't believe in the concept of "original sin". But I do believe that we are all sinners in some way. None of us is perfect - if we were we would be Gods.

The important thing is that we can and should learn from our own experience. We can and should aim to be the best we can be as individuals. We should try to see the possible outcomes of our actions & make informed choices. But we don't always manage it, so we precipitate outcomes which are bad. We are not necessarily bad people, but our actions can be.

The myth that annoys me is that because a bad action has happened means that we can realistically stop it from ever happening again. We can put in place strategies to reduce the posssibility of something being repeated, but that is no guarantee. People will go on being hurt and even killed by bad actions. It is the result of a world populated by human beings with all their faults.

Doors - Opening & closing.

It was really sad to go to Gloucester Prison yesterday for the last meeting of the IMB. The door is literally closing for good. The prison was like the Marie Celeste - no prisoners, only a handful of officers & admin staff. The whole place has been stripped out. A building is just an empty shell, it's the people who are important and virtually everyone has left. The halls, offices & cell blocks echo with ghostly voices. The reality of the need for updating & maintenence is only too clear. It was a jail that would have been a sink hole for money, and really wasn't fit for purpose. But it did a very difficult job well & offenders were well cared for. The vast majority of the staff were cheerful, professional & hard working. In a odd way I really enjoyed working there & will miss both the problems & the banter. I feel I have been lucky to have the experience.

On the other hand a door into the past has suddenly opened. A long lost friend of my youth has found me through my Blog. Renewing the connection, re visiting the past & discovering the present is a wonderful bonus. With real friends it is only the good times that matter. Particularly when one is getting older & experiencing the sadness of the death & illness of family, friends & aquaintances. A true friend is someone you can have disagreements with, but still retain that unconditional connection to because of shared experience. This friend is particularly valued because he was such an important person in the life of my husband.

Life gives as well as takes away.

Child Care-ers

http://www.carers.org/key-facts-about-carers This is the elephant in the room of our society or the silent scream of those who do it. I've already blogged about carers so won't go over the same ground.

However, I am actually really angry about the calm acceptance or obliviousness of adults to child carers. According to the link there are 175,000 young carers (11-15 years old). 27% of them miss school or have education difficulties. 68% are bullied or isolated.15,000 care for over 50 hours a week. 50,000 children care for someone with mental health probelms.

The statistics are appalling. These children are not only losing their childhood & the opportunities to socialise with their peers & learn how to be adults in a "normal" environment. They are weighted down with emotions they cannot be old enough or experienced enough to cope with. If they are coping with these emotions they shouldn't be!

I know what it's like to be a carer of elderly family members with dementia & can't begin to imagine what that sort of situation must be like for a child or adolescent. All of the complex emotions I had to deal with as an adult must be much worse for a child. I felt trapped - angry that I had to give my life over to someone else, regardless of the impact of that on my life. I felt trapped by duty - it stopped being love & that created even more ambivalent feelings of guilt.

I simply cannot see that it is right for our children to be forced into this situation. As far as I can see most support for them comes from charities. We supposedly have a "welfare state". What state of welfare do these children have? This situation, as are all caring situations, is set to get worse. It is estimated that there will be a 60% increase in the need for carers over the next 30 years. It's bad enough that 1 in 10 people are carers today. We should not allow children's lives to be stolen from them, even if it means a couple of pence on our taxes.