27 February 2022
My cynicism last week has been swiftly justified as British bankers are expected to collect the largest bonuses since the 2008 crash. So much for the ‘we’re all in this together’ approach implicit in the Bank of England’s pleas to employers to keep wage increases to 3%.
Isn’t it curious how many of these greedy bankers ‘burn out’ from unbearable stress? If they were on top of their jobs, they wouldn’t burn out, so it’s fair to assume they were appointed because they were good at interviews, not because they had any relevant skill or ability.
These divisive bonuses are being paid in a country which has now (post-Brexit) been freer to regulate itself so London is now up there with the best of the other places that turn a blind eye to investments and money-laundering by kleptocrats, drug barons and other criminals.
Coincidentally, a whistleblower has given a global journalistic consortium details of 30,000 accounts linked to Credit Suisse. Credit Suisse has some 1.5m private banking clients so the leak is far from complete but, while some of the accounts go back to the 1940s, more than two thirds have been opened since 2000. It isn’t illegal to hold a secret account in Switzerland but the sources of the money invested by some accountholders are questionable. Not by Swiss bankers though.
I’ve always believed that one of the major reasons why Switzerland chose to remain neutral in the Second World War was that, because the secrecy of their banking systems was world-famous, they were taking money from both sides; and, as capitalism and greed exploded post-war, even more money came in from the East.
Quite a lot of it still ends up in the UK where the lack of effective controls on banking systems has allowed vast amounts of dirty money to be invested here. It’s recently been revealed that almost 30,000 properties in England and Wales, including a number of large properties whose owners are thought to be Russian, are registered in the names of companies based in the British Virgin Islands where details of the beneficial owners of companies are not public. The government has promised to end the secret offshore ownership of UK property but hasn’t achieved much so far.
One of the difficulties faced in attempting this is that the ‘investors’ concerned are billionaires and the British legal system is extraordinarily expensive (compared with, say, France) and nobody apart from ‘Private Eye’ and a few patriotic MPs dare to risk defending a legal action whose costs would bankrupt them. So some London lawyers make a lot of money from sources that are, at best, dubious.
Karl Marx talked about “from each according to ability, unto each according to need” as one of the founding principles of communism (although the phrase actually goes back to a 19th century French philosopher) but the ruling kleptocrats in today’s Russia have clearly sacrificed communism to Mammon.
Anger caused by the Swiss banking leak has of course been overshadowed by Vladimir Putin’s war on Ukraine. At the beginning of the week, Violet Elizabeth Johnson was widely derided for his feeble announcement in parliament that, if Putin invaded Russia, he’d thcream an’ thcream an’ thcream till he was thick. Putin was so terrified by this that he invaded Ukraine three days later.
By the end of the week, Johnson was joining America, Canada and key European countries by excluding “selected Russian banks” from the Swift (the Society for Worldwide Interbank Financial Telecommunication) international payments system.
Russian missiles have been targeting civilian residential tower blocks, presumably because of their clear and present danger to Russian troops, and Putin has put his nuclear weapons teams on stand-by.
A Japanese billionaire, Hiroshi ‘Mickey’ Mikitani, has promised to give 1bn yen ($8.7m) to the Ukraine government, liquor stores in the USA and Canada have taken vodka off their shelves in a show of solidarity, a Ukrainian construction company is removing road signs so Russians without satnavs can get lost, Russia’s ‘friend’ China abstained rather than backing Russia in a UN resolution condemning the invasion, border guards on Snake Island received a radio message saying “This is Russian warship … Lay down your arms” and replied “Russian warship, go fuck yourself”, Russian soldiers captured by Ukraine have been reported as saying they don’t know what they’re fighting for, Hungary has said it will back all EU sanctions against Russia, Turkey is understood to be considering stopping Russian warships from entering the Black Sea, a growing number of Russian celebrities have backed international efforts to stop the war, Germany (whose relations with Ukraine have been strained since the Second World War) is sending 1,500 anti-tank weapons and other missiles, all EU countries have closed their airspace to Russian aircraft and Britain’s foreign secretary, Liz Truss, is preparing a “hit list” of Russian oligarchs to be hit with sanctions “in the coming months”. Guess which country hasn’t yet quite grasped the urgency of the situation (though, to be fair, Britain has pledged to continue supplying arms to Ukraine and the Ministry of Defence is working out how to get them there without their being intercepted by the Russians.)
Russia’s central bank has had to support the rouble as it fell to an all-time low against the dollar and, over here, BP has been criticised for its ownership of 22% of Rosneft, the Russian state oil producer and, having been publicly embarrassed, is now selling its stake in Rosneft. In another encouraging example of nominative determinism, BP’s boss is called Bernard Looney
Talking of loonies, Donald Trump, ever a brown-noser when dealing with autocrats, described Putin’s decisions as “brilliant”, “genius”, “savvy” and “smart”.
Putin himself gave an address on TV that made it seem pretty obvious he’s psychotic and paranoid, not the best characteristics of someone with the power to destroy the world. To younger generations, this must feel like the Cuban missile crisis did to us wrinklies.
Compared to Putin, Boris Johnson looks like a bear of very little brain and has just had his second formal reprimand in a month by the UK Statistics Authority for misleading parliament. In typical Johnsonian fashion, he told the House on Wednesday that there were now more people at work in the UK than before the pandemic began. In fact, he ‘forgot’ to mention that this is only true if you count people on payrolls because the number of self-employed people has fallen so far that, if they’re included, the total has actually fallen by 600,000.
He’s also now being questioned under caution by the police. Still, nobody now believes anything Johnson says unless it’s confirmed in triplicate by the Queen.
When the Queen’s positive Covid test was announced, Kier Starmer sent her a message that was read out by a BBC newsreader who pronounced “ma’am” as ‘marm’ although, as any fule kno, this should be pronounced ‘mam’. High time we got rid of the BBC and its pathetic attempts to avoid bias and replaced it with news channels known to be biased. RT News or Fox News would fit the bill, or Rupert Murdoch might have some suggestions.
In New Zealand, a young bull was swept away by floodwaters on the west coast, carried downstream and over a waterfall. It was discovered some 50 miles away, snuffling around in a blackberry bush.
Wordle, the (in)famous word game, has been getting complaints since the New York Times took it over: ‘humor’ annoyed a lot of Brits, ‘bloke’ annoyed a lot of Americans, ‘sha-e’ annoyed everyone who hadn’t already excluded the six incorrect consonants, and some people apparently didn’t know the word ‘caulk’.
Over here, people who pay to kill things were invited some time ago to stop using lead shot because of the damage done to the environment by the toxic metal. Unsurprisingly, the request was ignored and 99.5% of the birds they killed last year contained lead pellets. According to the shooters, they still use lead because steel pellets are lighter and don’t scatter as well and – you’ll find this hard to believe of people who slaughter birds for fun – you actually have to aim the gun rather than just point it up and pull the trigger.
In France, the daily paper Libération saw the confidential list of the 148,000 members of the right wing Les Républicains party and identified four dead people and a Niçoise dog called Douglas who could vote for Valérie Pécresse as their presidential candidate.
