A bit of this and a bit of that but it all ties in…

Everything in this post has already been dealt with in these pages in the past, but a BBC article this week once again drove home the absurdity of our economic and political systems and the hypocrisy and expediency permeating the establishment from politicians to scientists and experts.

Then, a string of other press articles and blog posts seemed to all coalesce to corroborate my feelings.

First the BBC article:


Scientists are set to begin a six-week mission to explore the Indian Ocean’s underwater mountains. Aboard the UK research vessel the RRS James Cook, the team will study animals thousands of metres below the surface. This year a report in the journal Marine Policy found that deep sea trawling is one of the most damaging forms of fishing. The expedition will help scientists to better understand the threats to this environment.

As I already mentioned some time ago, the fact that trawling is the most damaging form of fishing is not new. As a child growing up in a fishermen village outside of Rome in the mid 70s, it was already clear then that trawling was devastating to fish stocks. Already then the size of the catch and the quality of specimen being caught were dwindling rapidly so that deep sea trawlers were coming closer to shore in order to catch  a similar quantity of fish albeit of younger specimens. However, in trawling so close to shore that we cold swim out to them, not only did trawlers damage the nets of small land based fishermen but they also devastated the spawning grounds of fish. I know this because already then my father was implicated in spearheading a fight against the trawlers. A fight that was as much legal with the help of the WWF as it was physical. I remember the times my father had to drive to town during the wee hours of the morning in order to pick up the local Carabinieri to take them physically out to the trawler on our speed boat so they could witness the law being broken first hand. Despite carrying a law “enforcement” officer on board, being shot at was not unusual. Of course Italy being what it is, already then this was essentially a political fight as trawlers by and large belonged to politicians. It was already clear back then that this would be a lost cause. But the fight went on nonetheless. Initially with the assistance of the WWF we were able to get permission to create artificial underwater barriers in order to hinder the progress of trawlers plying their trade under the consented distance from shore. This was actually a rather successful campaign because by sinking scrapped vehicles in an haphazard manner, trawlers never knew where they would lose their nets next. But then the state intervened and judged it opportune to forbid the wild cat sinking of wrecks by consenting to the creation of concrete underwater pyramids in pre established areas. At that point, the fight was lost because now trawlers knew exactly where the obstacles were and could bypass them. This was an intentional ploy on the part of political interests that own the trawlers and it worked. Eventually of the few remaining land based fishermen, one joined the ranks of commercial fishing whislte the rest just gave up their trade. By 1985 the whole thing was well over.

So, that a BBC “science” reporter should now highlight that scientists have just realized that trawling is damaging is ridiculous to say the least.

In fact, our territorial seas and oceans today are so devastated that European trawlers venture well south along the coasts of Africa to pillage and ransack whatever fish stocks may be left there. The advantage of trawling in Africa of course is that to the exception of South Africa and Morocco, no other country has any legislation in place capable of preventing us from ransacking and pillaging their food source.

The devastation of the environment and the waste and subsequent depletion of food sources is of course a direct function of inflation. Although I’ve already ranted on this point a number of times in the past, here is a blog post from one of my favorite posters Karl Denninger with a different perspective on the same dynamic.


Excerpt emphasis added:

Notice anything?  The so-called “acceleration” in that labor participation rate was driven by…… debt being accumulated in excess of growth in GDP.

Or, to put it more simply, by fake demand.

Demand that didn’t really exist. Pressure on the production of goods and services and their prices that would not have existed were they to have been purchased with economic surplus.  That pressure grew more and more strident in the form of more and more debt per unit of GDP added, and after the 2000 recession we did on steroids, reaching an insane level of about $6 of new debt in the economy for every dollar of GDP increase in 2007 – right before it all went to hell.

That’s where your “asset and price inflation” came from too.

Go have a read at the entire article because it does put a number of things in perspective with regards to sustainability and our monetary policy.

And where are we today? We are at a point where politicians and the experts that have their ear want even more debt piled high on top of previous debt because apparently insolvency can be cured by taking out more loans and food staples can be replenished by instigating even more waste and fish stocks can be regenerated by stoking even more frivolous demand.

Such is the prevalent logic permeating the establishment.







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9 Responses to “A bit of this and a bit of that but it all ties in…”

  1. gerioflex Says:


    […]A bit of this and a bit of that but it all ties in… « Guido's temple of the absurd[…]…

  2. Patrick Donnelly Says:

    The African trawling is also capable of being addressed by my solution. The fish are still sold, aren’t they? The impost is collected by the markets where the fish is sold….. Each market then replenishes its areas? Evasion possible but fuel being the largest running cost, the markets will be close to where the ship operates from and in?

    • guidoamm Says:

      Deep sea trawlers freeze and package onboard. They don’t need markets close by. What they do need is access to an airport. Yellow fin tuna for example is fished around the Cape Verde island amongst other places. The fish is then packaged onboard the vessel and flown directly to Japan for example. Some of these boats are freaking floating factories mate.

  3. Patrick Donnelly Says:


    It seems we have identified one of the pension age losers! TPTW? She is forced to take in day lodgers, renting by the hour will be next!

    Oh, the humanity!

  4. Patrick Donnelly Says:

    Fish have to be farmed and may be harvested then. The trawling is disgusting in the absence of farming, but politicians see that they can make more of OPM in this way?

    Farming requires eggs and good variety of placement. Easily accomplished by a levy on trawling! The more they catch, the more they pay!


    • guidoamm Says:

      Except that there is no way of ascertaining what is caught along the shores of Africa.

      When I was in Guinea Bissau in 2007 I found out that the EU was paying US$300K yearly for the permission to trawl their coastal waters. One single deep sea trawler can haul several times that amount in one week of fishing… one single trawler in one week of fishing…

      We are doing this to Guinea and we are doing it to Mauritania where we don’t even pay anything because Mauritania doesn’t really have a government. What there is in Mauritania however is one of the largest, if not THE largest, United Nations base… but that’s another story. And we are doing it to Eritra and Ethiopia and very likely elsewhere too…

  5. Patrick Donnelly Says:

    The peril of banking is not just the MMT idea of mal investment, which is valid, but the borrowing –from the future –of all that credit. It must be paid for and just as that fake activity has ceased!


    The art comes in having activities that justify extraction of capital in the guise of profits! Hence the FIRE sector!

    OPM is the name of the game and kleptocracy is the result!

    • guidoamm Says:

      It is not so much OPM the name of the game. OPM is the vehicle that enables leverage. The name of the game is the productive capital of society.
      Look around you. The majority of productive capital today belongs to the finance sector. It may front as GM or GE or as an agricultural conglomerate out of Europe but if you follow the ownership tree, finance companies and the banks are at the vertex of the pyramid.

      However, not all banks are created equal. What is happening now is that the productive capital that has so far been accumulated by various national banks in Greece, Spain, Italy or the USA is now being transferred into the hands of the global players i.e. the Primary Dealers and a very restricted elite of other top tear banks such as Society General, RBS or HSBC for example. This dynamic will be evident in Greece as control of state assets will be passed unto the ostensible “creditors” in Europe. Now, admittedly, creditors may opt to keep a front in place to give the appearance that assets are still in the hands of Greek entities. But control will have passed to one of the European banks. This dynamic is clearly being set up by figures such as Papademos and Monti who are being parachuted into position by “suggestion” of the ECB and the EU.

      As zero hedge and Pater Tenebrarum have already pointed out, both Monti and Papademos are company men who will very likely carry out company instructions i.e. force more debt from the ECB down the throat of Greece and Italy. The new tranches of debt will be secured by state assets…

      We will see… soon enough…

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