THE BRITISH MUST BE LOSING THEIR MARBLES
(A COMMENTARY WITH OUR HEADLINE BY GILBERT MORRIS. IT ORIGINALLY APPEARED ON HIS FACEBOOK PAGE ON 14TH FEBRUARY. WE THINK IT’S AN EXCELENT PIECE– EDITOR)
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. ED MILIBAND REPLACES IMAGINATION WITH CHEAP POLITICS: The British government maintains a strategy: First, mind it is true, that lacking imagination and needing political points, Miliband has sought to bring former colonial outposts, now Overseas Territories – which are regulated better than Britain – into controversy. Second, a less well-known or acknowledged strategy is that since Britain cannot decide whether it is in or how it will associate with Europe, constantly it throws the Overseas Territories to the European wolves; largely Germany and France…(Since no one could mistake Italy or Spain as being either regulated well or regulated at all). But let us read the teas leaves rather than drink the tea in which case, there is the larger point: The current crop of British leaders are near-do-wells, insular ‘island boys’, often suffering bouts of self-righteous dissonance masquerading as decision-making. Fussy and intemperate, they are given to boastful misappropriations of power, even as they preach post-modern liberal sensitivity. How else can someone whose country and party were responsible directly for the near destruction of the global economy through regulatory failure and outright corruption, now demonise small micro-states in which, because of one-sided rules they forced upon us, one needs nearly one’s tongue-print to open a bank account?
Additionally, think on this: so lacking in imagination are these UK politicos, that amongst the Overseas Territories there are four of the “world’s largest” or “most used”…that is: Cayman is the world’s largest Funds centre (about $2 trillion); Bermuda is the world’s largest insurance centre, (about $2-3 trillion); BVI is the world’s most used, most significant company centre (they saved the global economy from 2007-2011) and Turks and Caicos has the world’s largest numbers of Hybrid Re-Insurance Companies and the largest percentage of Villa-Hotels as part of its gross room count, responsible for 54.7% of GDP; world highest smart phone penetration and enjoyed the highest growth rate in the world for 5 years from 2004-2009. The trouble is – and regrettably this is not gainsaid – these ‘territories” achieved these milestones not because of, but in spite of UK intransigence, obstruction and disdain. These “island boys” running Britain lack global perspectives, and fail to see that rather than going down the road to European gridlock and bureaucratic malaise, Britain with its 1000s years of institutional memory could have partnered with these “Four Horsemen of Prosperity” (Cayman, Bermuda, TCI & BVI), giving Britain a prominence it has not enjoyed since the Americans ordered them out of the Suez; reminding them that their power in the world was now a little above Belgium. Take BVI, 60% of all companies investing in China for the last 16 years have been BVI companies. Why else would BVI’s premier have a deeper, more substantive relationship with China’s leaders than most European nations? If Miliband was worthy to lead Britain he would have been a man with a larger spirit, who saw the world in such a manner, that he could see how the Overseas Territories would give a thoughtful imaginative British government “pre-text advantages” in the Global Financial System; permitting Britain to leverage its institutional history for the mutual benefit of all rather than their now Prufrockean ineffectualism.
Last is the hypocrisy: in the last 50 years, thieves, dictators and slaughter-merchants from all over the world, walked into British banks and deposited trucks of filthy lucre. (My beloved Maggie Thatcher even budgeted money to bribe Saudi officials for the sake of arms sales). The Rt. Hon. Gordon Brown HIMSELF forced “light touch” regulations on the City of London that lead to the destruction of Northern Rock, RBS and the bankruptcy of Iceland. Moreover – and this is the coup d’ grace – either we have constitutions in these territories or not: If we do then Miliband’s statements are the ‘ne plus ultra’ of irresponsibility. If our constitutions permit Miliband’s dictatorial flourish, then they are not worth the paper they are written on and we live not in territories but on plantations.