So ..... We'd already guessed as much

Today's big news is the people who perceive themselves to be our 'rulers'; Westminster politicians, other neoconservatives and the oligarchs, have been ripping us, the idiot UK taxpayers, off. Well, "hot diggity dawg and dang ma boots"; I'd never have guessed, would you?

The BBC of course fails to mention our dear leader, Cameron, is up to his neck in it, via the family trust fund his Daddy set up, but is quick to point the finger at Mr Putin of Russia (must be a SNP voter) or Mr Hollande in France (an easy target as the English institutionally hate the French plus the French are to blame for all these 'bloody immigrants' - always good for the Tory hate glands). There is also a mysterious silence over Trump or Clinton's potential involvement in this sort of scam which seems particularly odd. 

It appears if you have $1m in petty cash, no doubt it has to be in used notes, some nice lawyers in Panama will find a patsy to front your company holdings, who then takes the rap when it goes 'tits up', stuff them on some island with zero taxation and enable you to bury your billions beyond your local taxman's grasping hands like some latter day, "Cap'n Flint, oooh, arrh me hearties!".

In the mean time you can play the stock exchange casino with out ever digging your treasure up because your stock brokers never expect to see any cash from you as the weight of your money bends share prices to your will, in line with Einstein's theory of gravitation, but in this case its is not time which is bent but your share dealings; your stock brokers either get a nice share of the profit or indemnified for their losses, after all what is half a million, pick your major currency, between friends when your portfolio is worth many billions and earns a million a day just sitting in the sun, on its nice Caribbean Island, doing 'bugger all'. 

It is funny to see Mr Tory of Stoke Poges getting all het about this, especially as he only thinks it is those, 'bloody foreigners who are at it!' (courtesy of the BBC, Mail, Torygraph) rather than most of the MPs of his party and especially his dear leader. It is another damn good reason to get out of the EU, he blusters, not realising this is the actual fiscal free for all which is at the heart of Boris and Duncan-Smith's plans for a rejuvenated 'City' outside the EU. The fact that everywhere north of Watford will return to the dark ages, if this Borising happens, seems to fly over Mr Tory's head or maybe he just does not care because he will just move to Tunbridge Wells, if the local peasants in Stoke Poges become too restless.

What is really bothering me and should be bothering you is this;  

• Just what is the actual fiscal shit storm which is about to hit the West's banking and financial system which this sudden release of squirrels is hiding?

I think the National touched the nerve with its article about a potential Greek IMF / ECB loan default, exiting the Euro and returning to the Drachma. This is the Central Banker's worst nightmare and the IMF still have not got over the shock when the Argentinians gave them the two fingered salute a few years ago. If Greece exits the Euro the probability is other EU economies which are suffering from the Germans, French and Benelux  manipulation of the Euro for their own benefit, will pull out as well. So who will jump first after a Greek Euro exit? Italy? Spain? Portugal?

How will the banks of Germany, France and the UK survive such a major Euro zone exit with potential Euro loan defaults?  The RBS will take a major hit as Osborne made the bank prop up a couple of French Banks by underwriting their loan exposure in Greece and Portugal. How Germany will cope with the loan over exposure in Greece facing its Bavarian Banks alone, is a separate issue.

Germany and France's commercial banks are already in deep in Greece and the European Central Bank will take a direct hit from its own exposure in Greece, Spain and Portugal as well as secondary hits from a pan European '2008 banking collapse' rerun. It is not as if our own or the other Governments in the EU should be surprised or claim they could not see this banking collapse coming when a cursory look at any financial analysis or article over the last three years has been warning us a world banking melt down, worse than 2008, is just waiting to happen.

Will a Greek IMF / ECB default be the straw which breaks this particular camel's back? Maybe it will be a UK exit from the EU, who can say. 

There is also the issue that much of the West's GDP is tied up in the manufacture and sale of weapons and our UK leader's attempts to get us to back any further military involvement in the Middle East falling on deaf ears or as we say in Scotland, "GTF Cameron". Worse we, the people, are now questioning why the UK are flogging weapons to Saudi Arabia to bomb the 'Bejesus' out of the Yemen and wanting it stopped while support for replacing the UK's nuclear phallus is pretty lukewarm outside the Westminster bubble. BAE financial handouts from their pals in the UK government, masquerading as weapon's orders are getting a bit thin, if BAE can not sell to their customer in Saudi Arabia from the UK or not get to build the platform for the nuclear phallus, why keep up the pretense they are a UK company when their registered company HQ is now just down the road from the Pentagon? The USA will not be bothered if BAE in any of their shapes or forms flogs stuff to the Arabs just as long as the Arabs do not use it on Israel.

Then again, maybe this sudden 'expose' of international tax fraud via Panama, is the central bankers telling the world's richest 10% there will be no hiding place for them this time around when the shit hits the fan, they will have to cough up and take a financial hit because us plebs do not have two brass farthings left to rub together.

At the risk of sounding like a latter day Corporal Fraser, all I sense is; there is something else on the international horizon our 'leaders' do not want us to get wind of and it is not a squirrel invasion.