peter fieldman - the world at a crossroads

8/20/2019 Peter Fieldman - The World at a Crossroads

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About the Author

Peter Fieldman was born in North London in 1943. Having

worked in international real estate and as a NU writer! he has

travelled widel". His involvement in the world o# $oliti%s!

business and the media has enabled him to a%&uire a

%onsiderable knowledge o# 'uro$ean and international a##airs

and an understanding o# di##erent %ultures and languages.

(rowing u$ during the )*rente (lorieuses+ he has

e,$erien%ed the good times as well as e%onomi% and $oliti%al

%risis.

A#ter a grammar s%hool edu%ation he took a ga$ "ear

working in a #a%tor" in Fran%e-s ordogne region to im$rove

his knowledge o# Fren%h as well as a$$re%iate the delights o#

Fren%h #ood and wine. He then s$ent nine months in theUnited /tates0 an adventure! whi%h began dramati%all"

arriving the da" a#ter President enned"-s assassination in

November 1923. n his return to 'uro$e an interest in


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bull#ighting led to several visits to /$ain during Fran%o-s

regime! #ollowing Hemingwa"-s #ootste$s in Pam$lona and

adrid.

He began a %areer in advertising! 5ournalism and $ubli%relations in London but having #allen in love with Fran%e at an

earl" age sei6ed the o$$ortunit" to work in Paris and #ound

himsel# on the le#t bank in a" 1927 witnessing the student

u$rising and the last "ears o# 8harles de (aulle-s $residen%"!

as well as meeting his #uture talian wi#e.

Alternating between London and Paris as well as writing

he dis%overed an interest in real estate whi%h led to a %hange

o# %areer and he #ound himsel# at the #ore#ront o# the :ritish

e,$ansion a%ross 'uro$e investing and develo$ing o##i%es and

sho$$ing %entres #or an international real estate %om$an".

As a %ommitted 'uro$ean he be%ame involved in $oliti%s

5oining the Liberal $art" and standing as a %andidate in

ensington %oun%il ele%tions. He also took a ba%kseat role in

his wi#e-s London restaurant looking a#ter the wine list.

uring this $eriod he and his wi#e $ur%hased a $ro$ert" in

/usse,! #rom where the" o#ten took #riends to :attle Abbe"

and made numerous tri$s a%ross the 8hannel to the /omme

and Normand" to resear%h the two world wars and es$e%iall"

the Norman invasion o# 'ngland.

n 1977 with his wi#e and two sons he #inall" said

goodb"e to 'ngland and returned to Fran%e a%&uiring a

$ro$ert" in Paris and %lose to the editerranean %oast near Ai, en Proven%e. Although $ursuing an interest in real estate!

as a member o# the NU he regularl" %ontributed arti%les on

'uro$ean to$i%s! and also began to write s%reen$la"s! a blog

and take a serious interest in $hotogra$h". n ;


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8annes Film Festival his s%reen$la" based on the book has "et

to be taken u$ b" a $rodu%tion %om$an".

Although Peter and his wi#e still retain the villa near Ai,

en Proven%e the" travel overseas e,tensivel" and divide their time between Paris! adrid and his wi#e-s home %it"!

Floren%e! enabling him to $ursue a $assionate interest in

histor"! geo=$oliti%s! art! writing! the %inema! musi% and

travel.


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edi%ation

>hile a%knowledging the %ontribution o# man" other

$rominent $oliti%al #igures! who le#t an indelible $rint on

so%iet"! have to dedi%ate this book to the memor" o# /te$hane Hessel in $arti%ular whose book ndigne6=?ous

$ersuaded me to #ollow his e,am$le and raise the issues

%on#ronting the world.


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eter Fieldman

THE W ORLD AT A

CROSSROADS


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8o$"right© Peter Fieldman @;


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*he Pirates o# >all /treet E Peter Fieldman

Labour is the superior of capital and

deserves much the higher consideration.

Abraham Lin%oln! 3 e%ember 1721


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Contents

Pre#a%e 1

ntrodu%tion 1C

Politi%al oralit" ;9

'%onomi% oralit" C3

Finan%ial oralit" 93

8or$orate oralit" 1


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Preface

*he ob5e%t o# this essa" is to $rovide an overview o# the ma5or

issues and events %on#ronting the world toda". do not %laim

to be *homas Pikett"! Paul rugman! Gobert Gei%h or an"

other e%onomist. am not a well known $ersonalit" #rom the

world o# $oliti%s! entertainment or s$ort whose %omments and

views are guaranteed $ubli%it". am a %iti6en like man"

others0 one o# the bab" boomers! who has been #ortunate to

have lived through the good times and weathered the man"%rises around the world during the $ast hal# a %entur". am

also $rivileged to have had the o$$ortunit" to travel and live

in man" %ountries both within 'uro$e and overseas. have

lived under %onservative and le#t wing governments!

monar%hies and re$ubli%an regimes and have seen leaders

%ome and go. :ut until the last si, "ears have never

witnessed so mu%h ine&ualit"! dis$arit" o# wealth! greed!

%orru$tion and a loss o# moralit" and ethi%s. A#ter reading/te$hane Hessel-s book! )ndigne6=vous+ @*ime to GevoltB

was determined to e,$ound m" own views and o$inions on

the state o# the world as one o# the silent ma5orit" whose voi%e

deserves to be heard.

have s$e%i#i%all" avoided the use o# gra$hs! #igures!

statisti%s and numbers! used b" governments! e%onomists and

the media to bombard the $ubli%! whi%h are o#ten notunderstood. Please understand it i# some %omments are

re$eated in di##erent %ha$ters as it is hard to se$arate all the

relevant issues wish to raise as well as the re#orms believe

are ne%essar" #or e%onomi% $ros$erit" and $ea%e. All are


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intrinsi%all" linked in an in%reasingl" inter%onne%ted world.

And i#! b" the time "ou read this! some o# the #a%ts or

in#ormation! are out o# date! it is a reminder that we live in a

time o# ra$id %hange.

*he world has rea%hed a %rossroads. Gobert enned" said!

)Fear not the $ath o# truth #or the la%k o# $eo$le walking on

it.+ His observation remains 5ust as $ertinent toda". *he $ath

we need to tread is a moral one re&uiring a %hange o#

mentalit" to engage in a redistribution o# wealth and a #airer

and sa#er so%iet".


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Introduction

Imperial Rome is the centre of the empire, undisputed master

of the orld but ith this poer inevitabl! comes corruption.

"o man is sure of his life, the individual is at the merc! of the

state, murder replaces #ustice, rulers of conquered nations

surrender their helpless sub#ects to bondage, high and lo

ali$e become roman slaves, roman hostages, there is noescape from the hip and the sord.

That an! force on earth can sha$e the foundations of this

p!ramid of poer and corruption and human miser! and

slaver! seems inconceivable.

%uo &adis

ore than si, "ears have $assed sin%e the sub$rime %risis

brought the world-s e%onomies to the brink o# #inan%ial

meltdown. et we are no nearer resolving the %auses o# the

worst e%onomi% downturn sin%e the (reat e$ression. *he

%risis has been like a re%eding tide! e,$osing what lies hidden

beneath the sur#a%e. And mu%h o# what we have #ound is

de%a"ing or rotten. Abraham Lin%oln and artin Luther ing

believed all men are e&ual! but it is %lear that some are more

so than others. /in%e the outset o# the %risis the wealth has

gone to the ri%hest one $er%ent o# the $o$ulation! who bear a

large res$onsibilit" #or %ausing it. *he wealthiest eight"=#ive

$eo$le in the world $ossess more than the three billion $oorest

$eo$le on the $lanet. t is unsustainable. (rowing ine&ualit"

has be%ome a ma5or s%ourge in our so%ieties and has rea%heduna%%e$table levels $utting demo%ra%"! so%ial %ohesion and

$ea%e at risk.


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es$ite $roviding a uni&ue o$$ortunit" #or governments

to engage in the #undamental %hanges and stru%tural re#orms

urgentl" needed in our so%ieties! little has been done and stri%t

regulation o# the banking se%tor has #ailed to materiali6e. *he

unregulated and un%ontrolled s$e%ulation that %aused

in%al%ulable damage to the world-s e%onomies has not been

restrained but allowed to %ontinue without ade&uate

su$ervision. arkets #lu%tuate errati%all" at the slightest

rumour and we %ontinue to #a%e the risk o# another

%atastro$hi% meltdown o# the #inan%ial se%tor.

*he ma5or mistake I unless it was a deliberate and

organi6ed trans#er o# the nation-s wealth I was to bail out the banking se%tor with billions o# ta,$a"er-s mone" and allow it

to kee$ the mone" without asking #or an"thing in return.

nstead o# re$a"ing their debt to so%iet" the bankers have

%ontinued to $a" themselves obs%ene salaries! sto%k o$tions

and bonuses and hand out millions in dividends while the

ma5orit" o# the $o$ulation has been #a%ing drasti% austerit"

measures leading to a loss o# 5obs and homes and a toughe%onomi% re%ession. Ameri%a-s $romise o# )No %hild le#t

behind+ has be%ome )No banker le#t behind+.

*here have been massive #ines im$osed on banking and

%or$orate entities #or engaging in #raudulent a%tivities! mone"

laundering or #i,ing rates! but it has had no e##e%t on the

bankers themselves! or the auditors! regulators and bosses o#

rating agen%ies who have remained untou%hable! resisting an"

#orm o# %ontrol or intervention into their a##airs. *heir

im$unit" has be%ome one o# the ma5or in5usti%es in our

demo%rati% law abiding so%ieties.

n a s$ee%h to the Fren%h Universit" o# the /orbonne in

Paris in November ;


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%harges! whi%h hit ;ikiLeaks ba%k in the s$otlight. *he initial tough rea%tion is

unlikel" to %ause an" long=term damage to the s$e%ial

relationshi$ that e,ists sin%e it is obvious that nations s$" on


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ea%h other #or both $oliti%al and e%onomi% $ur$oses. t sim$l"

demonstrates that $oliti%s is an immoral game. :ut i# "ou

%an-t trust "our #riends! who %an "ou trustK

edia %overage o# the ;ar more

than #i#t" "ears ago.Politi%all" the world is no longer divided into the two

o$$osing $owers o# the %old war. t is be%oming more

%om$le, and $re%arious. *he so=%alled Arab s$ring turned out


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to be a winter o# dis%ontent with slami% grou$s seeking

$ower and! as we are witnessing with A#ghanistan! 'g"$t!

ra&! /"ria! /omalia! /udan and emen! %on#li%ts are not

sim$l" about one side #a%ing another! or good against evil! but

involve varied $oliti%al! religious and e%onomi% interests ea%h

#ighting its own %ause. *he long drawn out srael=Palestine

%risis demonstrates the %om$le,it" o# rea%hing a satis#a%tor"

$ea%e#ul agreement when there are so man" %on#li%ting issues

at stake.

*he %hanging s%ene makes it $aramount #or 'uro$ean

states to #orge a united #ront. # 'uro$e e,$e%ts to remain a

global e%onomi% and $oliti%al #or%e! 'uro$e-s leaders musta%%e$t %loser integration and some loss o# $ower and

sovereignt" instead o# $ursuing national interests. *he results

o# the 'uro ele%tions with the rise o# $o$ulist grou$s %aused

an ele%trosho%k among the ma5or $arties! whi%h %learl" have

not learnt an" lessons. atteo Gen6i! whose talian P $art"

won an overall ma5orit"! seems to have a$$re%iated the

$roblem and how to rea%t. )*o de#eat the e,tremist or $o$ulist $arties governments have to deal with the issues whi%h the

ma5orit" o# the $o$ulation want addressed.+ *his is $re%isel"

what governments have #ailed to do.

es$ite re$eated ele%tions in man" %ountries or %hanges

in leadershi$! $oliti%ians are still #a%ing resistan%e on the $art

o# vested interests %linging on to their $rivileges. At the same

time the debt %risis and $roblems o# the single %urren%" in

'uro$e have led to un$re%edented austerit" measures!

in%reased ta,es! $rivati6ations! %ut ba%ks in so%ial servi%es and

investment and government intervention on a massive s%ale to

shore u$ the #inan%ial se%tor.

(erman" is #a%ing %riti%ism #or its abilit" in managing its

books and maintaining a huge %urrent a%%ount sur$lus. :ut

surel" it is #or other %ountries to $ull u$ their so%ks and

emulate (erman" rather than deride the su%%ess o# itse%onomi% $oli%ies.

*he debt and euro %risis and the dis$arit" between north!

south! and east 'uro$e! will not be resolved until there is


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%loser integration through some #orm o# #ederal stru%ture

in%luding $oliti%al! #inan%ial and ta, harmoni6ation in order to

bring %on#iden%e ba%k to the e%onom". *his is #undamental

sin%e without %on#iden%e and trust there %an be no #uture.

*he vi%tor" o# Ale,is *si$ras and his le#t wing /"ri6a

$art" in (ree%e %aused $ani% in :russels and %ould lead to

#undamental %hanges in the e%onomi% $oli%ies o# the 'uro$ean

Union. Naturall" the (reek sto%k market %olla$sed but that

was onl" to be e,$e%ted given *si$ras-s $romise to sto$

$rivati6ations! end the ta, $rivileges o# the elite and

shi$owners and end the austerit" measures! whi%h have

%aused so mu%h e%onomi% and so%ial damage to the (reek $eo$le. et des$ite the risk o# a )(re,it+ his %am$aign made

it %lear that he su$$orts the 'uro$ean Union and wishes to

remain in the 'uro6one and Nato0 hardl" the words o# a le#t

wing revolutionar" des$ite his %riti%ism o# the *roika I the

'U! F and '8:. *he risk is that an" res%heduling o# the

%ountr"-s huge debt %ould have a domino e##e%t on other weak

member states. *si$ras sent his #inan%e minister! anis?arou#akis! to negotiate with the *roika. >hile his

#lambo"ant $resen%e made him an instant su%%ess with the

media it antagonised 'uro$ean o##i%ials who did not agree

with his debt=swa$ $lans. *he (reek traged" is turning into a

>agnerian o$era I interminable. *here are meetings and more

meetings but are we being told the truth about the (reek debt

situation when it is obvious that the aim o# the %reditors is to

#or%e the %ountr" to $rivati6e national assets #or the bene#it o# #inan%ial and %or$orate interestsK

(lobali6ation! the absen%e o# %urren%" %ontrols! the

removal o# the (lass=/teagall A%t and la%k o# banking

regulation have all %ontributed to an un$re%edented trans#er o#

wealth #rom nation states to the $rivileged elite! the #inan%ial

se%tor and international %or$orations who take advantage o#

o##shore %om$anies and bank a%%ounts in the world-s ta,havens. 8a$ital %an be shi#ted in and out o# a %ountr" at the

%li%k o# a mouse making #i,ing budgets and long=term

$lanning virtuall" im$ossible.


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*he world has be%ome a ta,=#ree $la"ground #or those

with the wealth and the right %onta%ts. >ealth is being

a%%umulated not through talent or work but through sim$l"

holding assets! whether real estate! sto%ks! art or %ash! whi%h

ultimatel" ends u$ being handed down to #uture generations

who have done little or nothing to earn their generous

inheritan%e.

*he $ower o# the multinationals! able to relo%ate their

manu#a%turing a%tivities! destro" 5obs and trans#er their $ro#its

out o# sight o# government treasur" de$artments! whi%h lose

vital ta, revenues! is a ma5or %ause #or %on%ern. *he natural

and mineral resour%es in the develo$ing nations o# A#ri%a!Asia and Latin Ameri%a! are still being e,$loited b" >estern

%or$orations and while the %ommodit" markets %an make

#ortunes #or s$e%ulators! the $ro#its too o#ten #ail to tri%kle

down to the indigenous $o$ulations. *he wealth generated

ends u$ in the $o%kets o# %or$orate bosses or %orru$t $oliti%al

leaders in o##shore bank a%%ounts or lu,ur" real estate! while

the ma5orit" o# the $eo$le are either #or%ed to live in $overt"or attem$t to emigrate to the desired lo%ations o# North

Ameri%a! >estern 'uro$e and Australia! adding to the in#lu,

o# illegal immigrants. ar% Gi%h! the #ounder o# (len%ore!

who died in ;

peter fieldman - the world at a crossroads

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