Thursday, April 2, 2009

+++ Gordon Wants IMF to Sell Gold Stocks +++

That has worked so well for Britain.  Not.

UPDATE : Guido didn’t see C4 News but a co-conspirator over on HPC reports Mandelson on the subject of IMF bailouts as telling Jon Snow

PM : We won’t be at the top of the queue”

JS : “You didn’t say we won’t be in the queue”

PM : “I don’t think we will be in the queue”

Honestly he didn’t want to say that last bit. He was more or less forced to. Very sheepish and quiet whan he said it. All this after Mandelson spent a good minute talking about how the stigma of going to the IMF was being reduced and it wouldn’t be embarrassing to go to them now. He even used examples of other countries, Mexico, that were considering using the special drawdown facility. We are being primed. Pure and simple. Just as we were for low interest rates and QE.

Apparently Mandelson said “We are destigmatising going to the IMF”Anyone got the video?

Fancy That

Private Eye’s Francis Wheen (of HP Sauce) has some good sources inside Labour circles and has heard some of the stories going around.  When Guido previously mentioned Draper’s widely known financial woes, Dolly launched into one of his charateristic blustering tirades:

Derek Draper Private EyeNeedless to say [Guido’s] latest post about me is inaccurate, offensive and libellous… I am clearly not going to get into my personal finances as these are no-one else’s business but the picture [Guido] attempts to paint is patently ridiculous.

You will note there are no names or actual facts just blanket and unspecific insinuations. If he had any actual facts why wouldn’t he publish them?

Guido will be more specific this time.  Private Eye doesn’t report that when Macintyre found out about Draper’s  treachery, he called Dolly “pure f***ing evil”.  Macintyre also complained to friends that it wasn’t just the difficulty of getting Draper to pay back the money he owed – it was that Draper  had enjoyed many an expensive alcohol fuelled lunch with Macintyre, unfortunately invariably at the latter’s expense.

The left-wing New Statesman political correspondent fancies himself as someone with an understanding of economics – he recently had a spat with Fraser Nelson, the Spectator’s number crunching political editor, which was hysterically one sided.   It has taken Macintyre a long time to grasp that there is no such a thing as a free lunch – except for Draper.

MP’s Expense Scans :Uploading is Public Interest Whistle Blowing

This is a message to the person who is reported in yesterday’s Times as having the unredacted MP’s expenses scans on disk.  Guido completely understands that you would like to make a profit for risking your neck. If however that is proving difficult, make contact with Guido via secure HushmailIn this context Guido has no qualms about handling stolen goods.

The public interest defence is an absolute protection and well established in law.  Guido can ensure that those scans are online and out of the reach of the British legal system within 24 hours.  The sooner those receipts are in the sunlight, the better.  Don’t let the parasitical political class paint you out as a venal thief – those receipts belong in the public domain, the public paid for them you can show us where the money went.    Your action will be heroic.

UPDATE : Private Eye’s Adam McQueen also has some advice on the subject.

Pornographers Exploiting Jacqui

Paul Raymond

Nice touch that the publishers of Razzle on their PaulRaymond.com website are asking customers “to please ask for permisson from the Tax-Payer before calling”If only…

UPDATE : Playboy UK are offering a Jacqui Smith VIP packageJacqui will be so pleased that upmarket pornographers are giving her VIP treatment.

Wednesday, April 1, 2009

View from Above

Guido’s post 3 hour lunch cigar.  Off now to the Adam Smith Institute to give a speech…

The Lunchtime View

Lunchtime View: G20 Protests London 1 April 2009

The Burnham Blog Regulation Bill

Labour MP Tom Harris has the details on his blog, however Guido wants to clarify one point.  When Andy Burnham referred  in the Commons debate to Guido’s unexpected support for the Bill (see previous They’ll Have to Prise the Keyboard Out of Guido’s Cold Dead Hand), it was of course support only in jest – and incidentally a breach of confidence by Burnham, since this was a jest made in a supposedly off-the-record consultation in his offices, following his request for a meeting.

Since this blog is hosted offshore, published by an offshore company and written by a foreign citizen, it won’t really make any difference to Guido – unless Britain invades Ireland again. You can’t regulate Guido, ask Mrs Fawkes…

Third Round : Capitalists 2, Anti-Capitalists 0

The trustafarian anti-capitalists having taken quite a beating in last few matches in the City:

G20 MeltdownThe 1999 Carnival Against Capitalism saw  an estimated 5,000 people converge on the London International Financial Futures Exchange (LIFFE).   In the early afternoon a small group of protesters broke into the exchange building, smashed up the reception area and tried to access the LIFFE trading floor, but were repelled by LIFFE traders in hand-to-hand fighting on the escalators.  Outraged floor traders counter-attacked and drove terrified protestors out of the building.

However, the 2005 match saw the anti-capitalists take their worst beating so far.  This post match report from The Times gives a flavour:

WHEN 35 Greenpeace protesters stormed the International Petroleum Exchange (IPE) yesterday they had planned the operation in great detail. What they were not prepared for was the post-prandial aggression of oil traders who kicked and punched them back on to the pavement. “We bit off more than we could chew. They were just Cockney barrow boy spivs. Total thugs,” one protester said, rubbing his bruised skull. “I’ve never seen anyone less amenable to listening to our point of view.”

Another said: “I took on a Texan Swat team at Esso last year and they were angels compared with this lot.” Behind him, on the balcony of the pub opposite the IPE, a bleary-eyed trader, pint in hand, yelled: “Sod off, Swampy.”

Protesters conceded that mounting the operation after lunch may not have been the best plan. “The violence was instant,” Jon Beresford, 39, an electrical engineer from Nottingham, said. They were set upon by traders, most of whom were under the age of 25. “They were kicking and punching men and women indiscriminately,” a photographer said. “It was really ugly, but Greenpeace did not fight back.”

Mr Beresford said: “They followed the guys into the lobby and kept kicking and punching them there. They literally kicked them on to the pavement.” Last night Greenpeace said two protesters were in hospital, one with a suspected broken jaw, the other with concussion.

G20 protestors really do not want to meet a Lloyd’s Broker who has just had his gin and tonic spilt…

UPDATE : Am a bit worried that Miss Fawkes, aged 1 and 1/2, could be an anti-capitalist saboteur.  Have just spent an hour searching for wallet hidden by her.  Hmm…

Tuesday, March 31, 2009

Wear Your Pinstripes with Pride Tomorrow

Guido is going to be at the Bank of England at midday tomorrow, well not actually at the Bank, more overlooking the Bank.  Having lunch at No. 1 Poultry and will probably be smoking a cigar on the balcony later, twanging his braces and proudly standing in his pinstripes after lunch.  A select few capitalist co-conspirators will be there.  Maybe Guido will see you in the bar.  Guido will be the one shouting “Greed is Good” at the demonstrators below…

Some valiant counter-demonstrators will be taking the battle to the G20 unwashed.  Guido would stay for the riot, but has to see his accountant in the afternoon.

The Death and Rebirth of Sound Money

Guido has had a call round the centre-right think-tanks and found that traditional support for sound money policies is now non-existent.  Even the Institute of Economic Affairs’  shadow MPC unanimously supports quantitative easing.

The IEA is London’s spiritual home of Friedrich von Hayek and Milton Friedman, and it was the IEA which in the middle of the 1976 global monetary crisis produced a pamphlet by Hayek; Denationalisation of Money.   Guido has an original edition, it was in this groundbreaking work that Hayek argued that the government monopoly of money must be abolished to stop recurring bouts of inflation and deflation.  How he must be turning in his grave to see the IEA advocate what he spent his life opposing.

Hayek MoneySound money was the traditional cry of conservatives the world over, Cameron even used the phrase in his speech to the Conservative Party conference as recently as last year.  It is clear however that Osborne and Cameron have, in the face of a wider intellectual retreat, given up on sound money and are going along with quantitative easing – a mistake as momentous as their acceptance of Gordon’s spending levels.  In all of Westminster’s Wonkland surveyed by Guido, only Madsen Pirie of the Adam Smith Institute is opposed to QE (also known as printing money).  Policy Exchange’s newly hired chief economist, Andrew Lilico, told Guido there was no other choice.  Lilico also told Guido that if QE was successful inflation and interest rates would be as low as 10% each in a couple of years – some success.

So Guido is looking forward to James Tyler’s speech tonight at Policy Exchange.  Little known outside the City’s money markets – in which he is one of the largest and most invisible players – he is going to sound the cry for sound money in terms that Hayek would approve. All is not lost – Russian and Chinese economic policy makers have read their Hayek – and are said to be preparing to propose a new, more Hayekian monetary order after this credit crisis has abated.  Sometimes it takes a crisis to precipitate a solution…


Seen Elsewhere

Users of Gay Hook-Up App Grindr Infected | TechnoGuido
ISIS Raising Funds Online Using Bitcoin | TechnoGuido
UKIP’s Youth Challenge | BBC
ISIS Operative: This Is How We Send Jihadis To Europe | BuzzFeed
Shapps Defends Bashir Defection | Seb Payne
Tory Leadership Contenders Jostle Over Europe | Alex Wickham
Cutting Taxes is Good For You | Art Laffer
Suspects Will Now Have to Prove Innocence | Laura Perrins
Labour Cllr: Cops Shouldn’t Stop Petrol Thieves | HandF Forum
Creeping Cultural Acceptance of Anti-Semitism | Eric Pickles
Time For Greece to Leave Eurozone | Allister Heath


Rising Stars
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Boris on British Jihadis. Apparently based on MI5 intel:

“If you look at all the psychological profiling about bombers, they typically will look at porn. They are literally w***ers. Severe onanists. They are tortured. They will be very badly adjusted in their relations with women, and that is a symptom of their feeling of being failures and that the world is against them. They are not making it with girls, and so they turn to other forms of spiritual comfort — which of course is no comfort.”


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