CALM DOWN

The word Titanic springs back to mind

So the banks (the elite bankers) are scrambling together at the muster stations. If they can gather quietly than they should avert a panic and slowly make their ways to the life boats.

They have probably worked out that half of this fleet is sinking. It will mean financial ruin for many. There are only so many lifeboats or safe havens- government backed financial institutions or safe private banks (who are they?) The banks need to retain an illusion of calm. If too many people start moving suddenly towards safety, than a bottleneck will form, followed by a scramble. That's a run and things are so volatile at the moment, it could break out at any moment. That run will mark the sudden end of an era- the experiment of ultra-aggressive capitalism- the financial apparatus would have collapsed and in times of emergency the government will need to step in and introduce emergency measures. That could mean, a surge of state purchasing of people's private property, state imposition of restriction on liquidity flow (you cant touch or transfer your savings without permission), the take over of a large section of banking system back to central control and this backed up by enforcement of law and order in response to the inevitable social unrest that will follow.

A capitalist state with more than a hint of socialism (even police state the most un-nerved will shout) would have emerged over night. Was this a socialisty plot? How clever is Gordon? If this does occur- then best to hope it was a plot, than at least someone is in control.

However, if a run doesn't occur, we will probably get to the same point but through a longer more scenic route. It is more likely to be a gradual process- of punctuated decline and a slow transition to less aggressive, more social-minded/environmentally friendly capitalism. Bring it on.