So, like many people I'm watching the financial chaos which seems to be gripping most of the world and shows no sign of abating any time soon, bail-outs or not.


This is where things get interesting...Currently there's a big argument in the UK because a lot of our local councils and businesses have stored or invested their money in banks in Iceland. Iceland banks just froze (irony?) a lot of their banks' dealings and so the UK is demanding their deposited money back - because frankly, without those millions, some of our own institutions are quickly going to be in trouble. Iceland's banks are refusing to let money be transfered out because it was badly affect THEIR economy, so the UK government is getting tough and threatening legal action to grab the money back. Now...the ONLY way to legally do this is to instigate procedures under the anti-terrorist laws, thus putting Iceland in the 'terrorist' camp, albeit only by conveniently legal classification, not by deed. However if Iceland (a tad miffed by this semantic classification) is suddenly a 'terrorist' state then people may ironically note that were must have been investing with terrorists and shouldn't someone be punished for that too? Semantics are a bitch. Come to think of it why were our local councils sending their money to Iceland when they could and should have been investing within the UK itself.

Though this is a truly serious situation the world is in, I think the rumours that marauding gangs will soon be roaming the streets lookign for tinned food and that Leeds will become the Wild West (or even Mad Max) territory are rather extreme, but this current crisis does show how quickly a modern way of life can be tripped up. But the news that the recently bailed-out AIG Bank has just taken its top exectutives off for a six figure spa weekend while investors lose their savings... well, it does show the haves and the have nots gap is widening now that the haves simply have yours.

Me? If my banks get into trouble, I'm taking my overdraft elesewhere!

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