The Smarmy World Of Davos
I simply don't understand the intrigue surrounding this global pilgrimage of the world's illuminati. Come on. In the years leading up to this crisis, the attendees were basking in their brilliance while we were highlighting their deer-in-the-headlights demeanor. Many of the attendees at Davos are international power brokers looking to make deals beyond the scope of our Constitutional rights and out of site from the sovereign. There is something unseeming and smarmy about an international group of elitists attempting to operate outside of our country's rule of law. Attempting to craft dealings outside of the transparency of individual governments or peoples that benefit a chosen few.
A few choice remarks from the entire Bloomberg story at the title link.
“The pendulum of power has swung from financial institutions to politicians,” says Morgan Stanley Asia Chairman Stephen Roach, who was among the first to raise the specter of global recession at last year’s conference. Stephen Roach is a favorite of mine but let's be real. Roach has been on the wrong side of this for some time. And, he took the Morgan Stanley China job just as China is likely entering a protracted depression. More like the pendulum is swinging to the sovereign from the politicians and the financial institutions my dear friend.
Financiers are already lobbying. While they acknowledge greater transparency has its virtues -- they’ve accepted the idea of an additional regulator for derivatives -- they want to preserve the potential for profits and warn that too much disclosure risks confusing markets.
“Flooding investors with a lot of disparate information can be misleading,” says Charles Dallara, managing director of the Institute of International Finance, who will be in Davos. His organization represents more than 300 financial companies.
It appears obvious we know which side the Institute of International Crooks is on. Let society worry about information overload and disparity. Letting the monkeys run the zoo is what got us into this event. And just as has happened throughout history, the crooks appear to be attempting to craft their own future out of sight of the sovereign. The only lasting resolution to repeated crises is 100% transparency for society. Imagine how many hundreds of millions of lives throughout history would have been saved were society to have been self-governed and aware of the conniving of those seeking power and greed.
Public debate, transparency, education of society and intellectual discourse in the light of day are the only disinfectants for the virus of elitism. More attempts at opaqueness by the illuminati is the last thing anyone needs. Of course, unless they want to see society dust off the guillotine.
I'll get up a post in February re transparency and the future of Wall Street.
A few choice remarks from the entire Bloomberg story at the title link.
“The pendulum of power has swung from financial institutions to politicians,” says Morgan Stanley Asia Chairman Stephen Roach, who was among the first to raise the specter of global recession at last year’s conference. Stephen Roach is a favorite of mine but let's be real. Roach has been on the wrong side of this for some time. And, he took the Morgan Stanley China job just as China is likely entering a protracted depression. More like the pendulum is swinging to the sovereign from the politicians and the financial institutions my dear friend.
Financiers are already lobbying. While they acknowledge greater transparency has its virtues -- they’ve accepted the idea of an additional regulator for derivatives -- they want to preserve the potential for profits and warn that too much disclosure risks confusing markets.
“Flooding investors with a lot of disparate information can be misleading,” says Charles Dallara, managing director of the Institute of International Finance, who will be in Davos. His organization represents more than 300 financial companies.
It appears obvious we know which side the Institute of International Crooks is on. Let society worry about information overload and disparity. Letting the monkeys run the zoo is what got us into this event. And just as has happened throughout history, the crooks appear to be attempting to craft their own future out of sight of the sovereign. The only lasting resolution to repeated crises is 100% transparency for society. Imagine how many hundreds of millions of lives throughout history would have been saved were society to have been self-governed and aware of the conniving of those seeking power and greed.
Public debate, transparency, education of society and intellectual discourse in the light of day are the only disinfectants for the virus of elitism. More attempts at opaqueness by the illuminati is the last thing anyone needs. Of course, unless they want to see society dust off the guillotine.
I'll get up a post in February re transparency and the future of Wall Street.
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