Expats blog

Posted 14/04/2009 - 06:44 by expat

There’s a few things I’d like to address here. Firstly let me say that as it stands I agree with elgee that the SoA is unacceptable and it does not match the presentations we were given. So as it is some of us are already trying to address that. I don’t think it takes a whole lot of working out that as time has gone on what might have been a good idea that might well have benefited depositors has been diluted by circumstances. Not least the banks and HMGs attitudes, I’ll stand by my statement that IoM have two guns at their head.

How they dealt with is something we can no doubt debate for evermore, but it is very evident that a major dilution of benefits to us has taken place on the basis that we are probably the least of the problem. Any risk and reward analysis is going to look at an HMG that can impose a constitutional and financial debacle; banks withdrawing and reducing an economy to rubble and some very angry and agitated, but relatively few depositors and conclude who to pander to and who to disappoint. It does not take the wisdom of Solomon to see that surely!

There is now and never has been a legal way to get 100% back from IoM and they know it. What chance there may have been to get a result that way, I suspect was blown away by Darlings ‘lets look at the relationship’ statements which put the fear of god into them. You can say stand up and be counted until it’s you in that boat. Just how would a little rural council fare against a very powerful and frankly PR adept HMG? As you’ve just seen this whole relationship issue went all the way to G20, that’s how serious HMG have been over this. So all the conspiracy by IoM and HMG stuff is a bit misplaced in my view, the school bully has made its presence felt in no uncertain terms in my view. Hence a crap SoA! I am not defending, but I am trying to see what is real and not simply what I want to see or what suits my cause. And my cause is 100% return if at all possible, 60% does me no favours at all, in fact leaves me in limbo really. But certainly I wish to maximize my return.

There is then the matter of ‘when does the penny drop”? I don’t know in many cases, this whole prioritization issue has been the source of infighting and dissent since the early days, its caused rows and fallouts, lack of co-operation between people that should work together and generally diluted the cause as far as I am concerned. I read some comments and I honestly wonder if some actually understand what’s happening, why its happening and where we stand. I am well aware that people are in denial, that they only hear what suits them and act accordingly. Stress and depression are terrible things, and it’s not easy to keep in the land of reality, but we have to try. Because if we don’t we just end up shouting at the moon!

We can talk of an inept regulatory system and people that did not protect us properly, we can say justice should prevail. Then ask yourself why the IoM banks still upstream money to UK? I read one comment that this was insider dealing that moved our money to London. Please just where can you possibly get a conclusion like that from? The reality is that up-streaming is a normal and everyday occurrence, whether its good or not we can debate, but you’re going to find it very difficult to prove malfeance in court on that one. You can threaten legal action, but you’ve got to win it, because the cost of losing is high. And its wise to sue some entity that actually has the assets and money to pay out, no good suing a man of straw is it. Banks can’t make to the money work for a profit unless they use it, there is a small population and no inter banking facility on IoM, so how and where are you going to use the money if you don’t upstream it?

I do not know if we can crack the UK Gov, get it to act honestly and admit that a set of fortuitous circumstances saw IoM money in London at a time when a probably corrupt and certainly disingenuous Iceland was at last stretched to breaking point. It all fell into place, at last HMG could complete a ten year crusade to batter the offshore banking system and brand us all as Tax Dodgers in the process. So while we attacked and accused the IoM, HMG won the PR battle quite easily. We are the tax dodging talk of the Westminster tea rooms.

So lets redress that if we can, lets email the world, the press, MPs, MEPs, MHKs, anyone who has what you consider influence and try t turn this around.

Finally thanks for the amazing level of emails I get, if I am sometimes slow to respond I apologise there’s a lot of correspondence to deal with and some is easier to answer than others!

Keep writing, keep fighting, please!

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