A Really Good Sign for the Coalition 173

Yesterday saw a vital indictation of the viability of the coalition – and it was George Osborne who delivered an extremely good result.

Last week I blogged:

Next week, the EU Council of Ministers plans to adopt strict regulations enforcing transparency on hedge funds and private equity firms and limiting their leverage, ie how much they can gamble. NuLabour resisted these very sensible Franco-German proposals, because NuLabour was 100% bought by the City. The Tory right wants to oppose the plans because they are European regulations. Already we are hearing bleats that hedge fund managers will move abroad. Good. The attitude to these proposals will be an imprtant early indication of whether this government is more progressive than NuLabour.


This is from the lead story on the front page of today’s Financial Times:

The approval of the controversial rules by finance ministers follows a similar endorsement by a group of EU lawmakers on Monday and brings regulation of the “alternative investment” industry closer.

Mr Osborne decided not to use up political capital in Brussels fighting to dilute an EU directive that has been ferociously pushed by France and Germany


More to the point, these regulations had been ferociously resisted by New Labour, just as Brown and Mandelson had ferociously resisted Franco-German proposals to limit bank bonuses and apply other brakes on casino banking. New Labour’s total defence of even the most extreme practices of most unacceptable faces of capitalism – hedge funds and private equity funds – was sickening.

It was notable in the election campaign that the Tories stance on banking regulation – in their manifesto, their rhetoric and the leaders’ debates – was much stronger than New Labour’s, and closer to the Liberal Democrats. There was room to doubt if this was just election populism. Osborne’s decision yesterday is a welcome sign that he Tories really are willing to take on City interests to which New Labour were slaves.

But the significance does not stop there. This decision also shows Cameron and Osborne are prepared to take on their own Europhobes. There will be fury from the combined forces of private equity millionaires and anti-Europeans, being poured down the lines into Conservative Central Office today.

Osborne in fact cleverly played the pro-EU card in the ECOFIN meeting and used his agreement to fund regulation to push forward the single market in financial services – something which has been disgracefully obstructed on continental Europe.

A friend of mine in UKREP Brussels tells me this morning that the view there is that it is great to have Ministers who do not confuse the interest of the City and the national interest as automatically the same thing.

And the icing of the cake for the coalition is that these very proposals for transparency and limitation of risk of hedge funds and private equity funds were initiated in the European Parliament by Lib Dem MEPs – led by my old mate Graham Watson.

173 thoughts on “A Really Good Sign for the Coalition

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  • Alfred

    “the festival is called “Passover”. That is because it is celebrating the “Passover”. It is not called the “Slaughter of the Egyptians” festival because that is not what it is celebrating.”

    Yeah, and the Germans celebrated Auschwitz not because Hitler was killing Jews but because he wasn’t killing Germans.

    And only “the minority elected Government [of Israel]” hates Arabs, except that 31% of Jewish Israelis say they feel hatred when they hear Arabic spoken, 40% think that Arab citizens of Israel should be denied the vote, 60% would not allow an Arab to their home, 75% said that apartment buildings should not be shared by Arabs and Jews and most believe that it is treason for a Jewish woman to marry an Arab.


    Spin that, Techie.

  • technicolour

    The Germans celebrated Auschwitz? What are you talking about?

    And address the point, please. The festival is called “Passover”. It is celebrating survival, not slaughter.

    Horrible statistics from ynet, I agree. From 2007. A year later a Haaretz poll was showing 64 percent in favour of dialogue with Hamas (google Haaretz dialogue hamas.)

  • Freeborn

    Our so-called liberal censor has been at work air-brushing comments re-Marx’s plan for Zionist banker-led world domination.

    If you can’t convince people of your argument that there’s no such thing as Zionist bankers then just obliterate the evidence for the counter argument- seems to be the modus operandi.

    Reference was also made in the original post to the role of Zionist bankers in the Bolshevik Revolution and the millions who died in the gulag.

    We might note too that bankers like Schiff also backed Hitler’s rise to power.

    The evidence for Zionist bankers’ WW2 plan to use Hitler to confront Stalin and thereby rein in what they perceived as his “Bonapartism” (read aspiration for “revolution in one country”) is the interview given by Christian Rakovsky to his Soviet interrogators in 1938.It’s online at scrbd.com under the title:Red Symphony.

    WW2 thus became the Zionist means to internationalize the spread of Soviet

    communism that had ground to a halt under Stalin’s leadership.Not to mention the fact that Soviet propaganda re-the “Holocaust” in the post-war period gave added impetus to the Zionist claim for the Jewish ethno-state in Palestine.

    References in the censored comments were also made to the Jewish ancestry of the Nazi leadership (read the book by Kardel online) and their use of terror to compel assimilated and Orthodox Jews who did not want to go to emigrate to Palestine.

    “Holocaust” comes from the Hebrew for burnt offering or sacrifice.The six million figure touted by Zionists and their fellow-travellers for Jewish deaths during WW2 has its origins in Kabbalah prophecy rather than documented history.

    These are the facts and the internet means that the Zionists and their vast network of gate-keepers and propagandists are now struggling to maintain the myths that cover their crimes against humanity.

    Mr Murray can censor these comments but he is fighting a battle the Zionists have already lost.

    That’s why with or without Mr Murray’s help they seek to control the internet.

  • Apostate

    There is dispute re-authenticity of the Levy letter.

    Firstly it is unclear whether the words are those of Marx or Levy.

    Secondly it is quite possible that the quote is from Levy in correspondence with someone else.

    Freeborn,you may thus be overestimating the importance of an unreliable document.Note the document did not appear until 1928 when it was cited in La Revue de Paris.

    However the reknowned authority on Marx’s apostasy is Marvin Antelman whose magnum opus To Eliminate The Opiate finds the origins of Marx’s inner life in his Frankist apostasy and Illuminati Freemasonry. This circle included the League of Just Men sponsors of early communists,like Marx and Engels.

    Check out Zionist writer and staunch advocate of the brilliant Antelman’s work, Barry Chamish.Antelman, an inventor and something of an all-round genius to boot, gave an enlightening interview on Israeli radio which covered these matters too.

    The real history of the Holocaust is a chapter in the schism that occurred within Jewry during the seventeenth century when the Frankist messiah,Shabatai Tzvi swept all before him and achieved a huge following among World Jewry.His successor,Jacob Frank gives his name to the group.

    Frankist influence is still more secret and powerful today in the controlling hands that guide elite policy groups like the CFR as it was in Tzvi’s day.

    Marx was a Sabbatean heretic forebear of the elite Jews who usurped control of Zionism when they ousted Herzl and replaced him with Weizmann.

    If the Levy letter was Marx’s work it would be part of the Sabbatean plot to subvert Judaism and whip up anti-semitism.

    Whatever the truth-which us always more messy and complicated than any of us would wish neither the letter nor Marx’s theories should be taken at face value.

  • Suhayl Saadi

    Owen, interesting observation about the bus. I’m glad you were on the bus and good on you for being on it!

    I realise that one cannot necessarily extrapolate.

    Of course, some of those people on the bus would have had zero solidarity with places like Venezuela/ Cuba, etc. because some of the people on the bus might have been vehemently anti-Socialist/ anti-Communist and because they have been ‘organised’ over the past 25-30 years to eschew any other form of solidarity other than the narrowly religious form, and then, a narrow version of that narrowly religious form. So, some of those people on the bus would have been likely to have been engaging in, essentially, identity politics. Tribal politics.

    This is one of the tragedies of recent policy in the UK and it is one of the reasons why I am against expanding faith schools of any kind.

    Of course, it very much suits those in positions of power to allow divisions to become established between those who otherwise might actually see that it is in their interests to unite with other groups.

  • Freeborn

    The excision of the Levy letter still seems to suggest that we are not deemed adult enough to discuss such matters.

    The letter’s authenticity is hotly disputed across the internet.Just as it should be.

    What is at issue are some of the most momentous questions on the history of the last century.

    Such issues as why in the last century did two World Wars need to be fought?

    What was the role played by the Zionist bankers who turned up at Versailles in 1919 in shaping the events that led to the second conflagration? They outnumbered the political representatives of the former belligerents!

    How did religious and class divisions that developed within World Jewry lead to what happened during the “Holocaust”?

    How did the Frankists infiltrate Reform Judaism in order to subvert it?Were the Jews who were sacrificed a burnt offering for the Frankist elite?

    How did the Frankists gain control of Zionism to the extent that it was they who were in a position to control who would gain admittance to Palestine?

    How far do the Frankist elite control Israel today?

    What was the nature of Stalin and Hitler’s links to the Zionist bankers?

    Answers to such questions are sorely needed since the establishment mythology is so obviously fabricated.

    If Rabbi Antelman and Barry Chamish,both Zionists,are free to discuss such matters in Israel then so should we be.

  • Suhayl Saadi

    Of course, the peculiar and interesting thing is that in their scriptures and prayers, Muslims identify not with Pharaoh’s Egyptians or Nebuchadnezzar’s Babylonians but with Moses (Musa), Aaron (Haroun), and the Children of Israel.

    They do not see any parallel b/w Moses/ those Biblical/ Quranic ‘Jews’ (though arguably the term might be inaccurate referring to the people at that time, one might perhaps use the term, ‘Hebrews’ instead) and the present-day state of Israel, the establishment of which, many of them, like some very orthodox Jews, see as a usurpation of religious prophesy.

    I do think it is important that this type of dynamic be stated, as it seems very difficult to state it overtly in gatherings of either community. Almost nobody, it seems, in the public sphere or in print, wants to have their pristine contemporary tribal short-term myths dispelled with a dose of history, long-term myth (inner life) and theological exegesis. That, in itself, is a tragedy, in my view.

    That is why, when I referred on another thread to the Kurdish Israeli-American writer who actually tried to present a nuanced, complex narrative of history to an audience in Washington, DC, who, I am not sure were ready or willing really to hear such nuance, I thought it was so different and fresh.

  • Steelback

    The role of Sabbatean apostate Jews in Bolshevism,Nazism,Reform Judaism,and Zionism and the “Holocaust” is key to understanding all the events you mention.

    Chamish sketches this background based on his reading of Antelman in several talks and articles.

    In Frankists,Sabateans and the Illuminati he discusses the role of Donmeh Sabbateans in the Armenian massacres and Young Turk Revolution that deposed the Ottomans.Noteworthy is the fact that several of Israel’s first generation of leaders including Ben Gurion,Moshe Sharet,Ben Zvi were all Sabbateans.Zvi took the name of the seventeenth century Messiah and wrote books on Sabbateanism.

    Citing David Morrison’s Heroes and Anti-Heroes,Chamish also notes the role of the US-based Frankist elite in the Holocaust.Figures such as Mayer Sulzberger,Louis Marshall,Cyrus Adler,Jacob Schiff,Felix Franfurter and Rabbi Stephen Wise were all instrumental in controlling the flow of migrants to Palestine during WW2.

    This elite was responsible for the burnt offering known today as the “Holocaust”.

    The venerable Rabbi Antelman’s interview on Israeli radio is here:


  • tungsten

    I seem to remember some years ago when this blog was in its infancy Craig commending J.A.Hobson’s 1905 work,Imperialism.

    The work is cited by Hannah Arendt in her Origins of Totalitarianism in which she noted that it was Jewish financiers who helped initiate the boom in financial speculation in the 1870s that formed the springboard for nation states to embark on the period of imperial expansion that followed in succeeding decades.

    These financiers were the source for the internationally guaranteed loans that facilitated such expansion.Used to making profits on commissions the Jewish financiers ideally placed to conduct international business operations needed by imperialists.

    Arendt found early studies of imperialism were all explicit about the heavy involvement of Jewish international finance in imperial expansion.She wondered why Hobson who had in his earliest foray into the field in a 1900 edition of the Contemporary Review written of Jewish financiers who went early to the Transvaal for money soon withdrew but not without leaving “their economic fangs in the carcas of their prey.”

    Hobson described these financiers as speculators who profit from the “construction,promotion and financial manipulation of companies”.

    Characteristically Arendt put the absence of any mention of these Jewish financiers in Hobson’s later 1905 work down to his realisation that they had played but a temporary and superficial role in the development of imperialism.

    Given that such financiers had been heavily involved in the slave and opium trades Hobson’s willingness to back-track on his original emphasis is not satisfactorily explained by Arendt’s assertion.

    Again we know that Lionel Rothschild was an executor of Cecil Rhodes’ will and a member of the Milner Round Table Group.”The Group”, as they came to call themselves, provided influential members of the Lloyd George administration that issued the 1917 Balfour commitment to the Jewish ethno-state in Palestine.

    Thus pretending the phenomenon of Zionist bankers has no basis in reality is a shared predilection for both these writers.Today these are far outnumbered by commentators less willing to submit to editorial PC bullying.

    Probably Hobson’s original ideas re-Jewish financiers and Imperialism would have been deleted by our editor-ironically the very man who recommended him to his readers!


  • Suhayl Saadi

    Tungsten/ Apostate/ Steelback/ Freeborn – oh, who not call yourself by one name, it’s much simpler and anyway by now everyone knows it’s you, man – can I ask you something? Please don’t be offended or take umbrage. I think you know by now that I generally attempt to be as ‘straight’ with people as I can.

    When, on a previous recent thread, Alfred elegantly was presenting his theories of race, you (I seem to recall; I may be mistaken) as Apostate came out and argued in favour of a multicultural/ multiethnic, etc. society, i.e. a society composed of lots of people hailing from different parts of the world.

    Can I ask you, then, just out of interest, what your thoughts might in relation to the BNP?

    Thanks. Much appreciated.

  • Alfred

    Steelback says,

    “The role of Sabbatean apostate Jews in Bolshevism,Nazism,Reform Judaism,and Zionism and the “Holocaust” is key to understanding all the events you mention.

    Chamish sketches this background based on his reading of Antelman …”

    Antelman claims to have discovered a cure for AIDS:

    “Method of curing AIDS with tetrasilver tetroxide molecular crystal devices” US Patent 5,676,977, 1997

    But if you look it up in Google Scholar, this Earth-shaking discovery has been cited a total of exactly five times in thirteen years, which must raise some doubt as to its efficacy.

    What’s more, if you check the citing references, two are self-citations, one seems to be a mistake and the other two make no reference to AIDS.

    Antelsman also invented a lard-laden bullet for use against devout Muslims, who believe any contact with pig flesh robs the soul of its chance to enter paradise:


    Is this the kind of person we should be taking seriously?

  • Alfred


    You say,

    “When, on a previous recent thread, Alfred elegantly was presenting his theories of race…”

    Bollocks. I presented no theory of race. I gave a dictionary definition of the word “race” and an biologists operational definition of the word “race,” which was merely a slightly more precise version of the dictionary definition, e.g., that provided by the “Free dictionary”:

    5. Biology

    a. An interbreeding, usually geographically isolated population of organisms differing from other populations of the same species in the frequency of hereditary traits.

    And if you dispute that, give us the quote?

  • technicolour

    Er Alfred, you did indeed have theories about race, among them the theory that the British race was in danger of being eliminated by mass immigration. You left the thread. Please don’t make everyone go through the same hoops again. It is boring.

  • Alfred


    “Er Alfred, you did indeed have theories about race, among them the theory that the British race was in danger of being eliminated by …”

    That’s not a theory about race. It is a statement of the obvious about the effect of mass immigration on the genetic composition of the population – or are you trying to say that African or Asian immigrants, are as likely to have red hair and blue eyes as those of long British descent – a claim that would obviously be false.

    I think you are trying to play the race card, by implying that I have epxressed racist ideas, a suggestion that is totally false and therefore odious.

  • technicolour

    Alfred, that was me. And there is no such obvious effect, it is a theory. And a malign one.

    I’m not going to repeat this; please go back to the other thread & read the comments there.

  • Alfred


    My apologies for attributing Technicolor’s comment to you.

    As for Tech’s response, it is consistent with his seemingly limited grasp of the of the English language. To call a dictionary definition of “race” a race theory is idiotic. And he is has now confirmed that he is incapable of providing any other justification for his insulting comment.

  • Suhayl Saadi

    Apostate, I mean… are you there, nanu-nanu…

    Alfred, though you know I disagree with you on those matters (more broadly than simply in relation to conceptual or linguistic definitions), the allusion in my original post addressed to apostate et al was made by me simply to allow him to anchor my question in context.

    Btw, Technicolour, I sense, is a very intelligent and ‘good egg’.

    Vigorous debate is the lifeblood of any decent C17th coffee-house.

  • Alfred

    Suhayl, Technicolor, Whoever,

    Are you all the same or what?

    And you say “I disagree with you on those matters.”

    On what matters? And how do you disagree?

    You accuse me of racial theorizing. You know what that implies. But you cannot substantiate the charge. Therefore, you should withdraw it.

  • technicolour

    Alfred we are different people but I expect we are just as tired. Go and read the previous thread, please (under the voting tree). It has illuminating comments by Richard Robinson and angrysoba too. Thank you.

  • Apostate


    Not sure Antelman’s inventions are relevant here?

    Maybe you’re a little uncomfortable outside your own cultural milieu?

    Both Antelman and Chamish are Zionists and Israel is an extraordinary state.

    A lot of PC liberals like to believe that all the goodies line up on one side and all the baddies on the other.

    If life was that simple-it would be boring.Lots of people everywhere have views other people might consider extraordinary.Maybe there’s a lot of people like that in Israel.

    Bear in mind that Antelman and Chamish believe that true Zionism was hijacked by a small sect of Sabbatean apostates.

    Neither you or me are Zionists but both of us must understand that if either of us had just a modicum amount of the talent that Rabbi Antelman has we would want to make ourselves famous quite quickly.

    If we could simultaneously put our NEW country on the map as well-we’d leap at the chance wouldn’t we?

    So to Antelman let’s say the cure for AIDS and the pig-fat bullets-hardly a new idea anyway-both could possibly, at least from the point of view of a Zionist with a siege mentality-have,saved numerous Israeli lives.

    Perhaps you are unfamiliar with the work of the Zionist theologian,Gershon Scholem.Like Antelman,he drew attention to the 17th century schism within World Jewry that occurred with the advent of Shabatai Tzvi.He identified the said schism as the key moment in Jewish history.

    Why any of this needs explaining to someone who claims to have any knowledge of Israel is quite beyond me.

    After all,most of the educationally challenged “special needs” contributors on this website seem to think I’m “anti-semitic.”

    CORRECTION:I take exception to a small elite of Jewish supremacists.And that’s not the same thing.

  • Steelback


    haven’t you asked this dumb question re-the BNP before?

    I have about as much interest in the BNP as I have in stamp-collecting.

    There have been good philatelists and bad ones.

    Do I give a fiddler’s fart?

    Last I heard the BNP was endorsing Israel’s right to attack its neighbours.

    Am I going to vote for a Zionist party?

    Somehow I think not!


  • technicolour

    That’s very interesting, Steelback/Apostate/whatever. Do you have some sort of a club or society in which you can discuss these overwhelming feelings? Does it not feel awful every day, wandering around with such hatred & so many theories? Life might be better if you went to the gym, instead of taking steroids?

  • Alfred

    Technicolor says:

    ” Go and read the previous thread, please (under the voting tree).”


    Why can neither he nor Suhayl explain why they say I have advanced “racial theories.” And since neither can, why do they not withdraw the comment. Even apologise for it.

  • Suhayl Saadi

    Steelback: Who’s Arthur? Did you mean Alfred? One was Romano-Brythonic, the other, Anglo-Saxon. Enemies, then. Unless we’re talking Arthur, eldest son of Henry VII, who died before his father, so ultimately ushering in Henry VIII and his six wives. Tudor usurpers! Yokels! Herbicidal maniacs!

    Thank you for answering my question, btw. Very interesting. I don’t think I’ve asked you it before, but I may have; there are four of you, so it’s quite tough to keep track even though all four of you speak with one voice. Unlike me – I am legion, but I speak with one though on good days I like to think of it as a symphony. Well, okay, a jig, then.

    Technicolour, your imagery brought to mind the work of the opiate-drenched Peter Howson; all those dynamic, muscular, cloth-capped workers on the beach, bulging with rage and the antithesis of incipient bone-crushing Socialist Realism.

    Well, enjoy your coffee, Steelback. But answer me this, O acolyte of Jimmy Page. Do fiddlers, fart? Is there something about the violin that increases hydrogen sulphide levels in the colon? And if so, how does this dynamic compare with, say, drummers, or clarinetists? Or indeed, mezzo-sopranos? Such matters preoccupy one, do they not, in the swirling depths of the summer night.

    But remember this: Einstein claimed that he’d had only a single thought in his entire life.

  • Suhayl Saadi

    Alfred, come on, man, we’ve gone into all this before, on that other thread when you sort of stomped off in a huff ’cause I asked you to do a handstand. I could go into really fascinating areas like the role of the court jester and the Lords of Misrule in Mediaeval society, but, I’m tired right now. Man, we’re like diamonds, we people are like diamonds, we have many sides but through each side one can see the whole. Dig it. Let’s talk about something else for a change. Like where in Canada are you, roughly? How do you find it there? How’s it changed over the years? Are you into the work of Jorge Luis Borges and Alberto Manguel – the latter is in Canada, I think? I read an epic story once, entitled, ‘Chinook Arch’ and when I was in Montreal I picked up the works of Michel Tremblay. Brilliant.

  • technicolour

    eeew, Peter Howson! What imagery brought him to mind?

    Suhayl, we could indeed be diamonds. I always liked to think of ideas as diamonds: multi-faceted; shining.

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