Back in April-ish 2007 I attended a conference for senior managers in HBOS. One of the presentations during the day proudly announced that the bank borrowed £280bn on the overnight and short-term money markets to fund its mortgage lending. As chance had it I was sitting next to a dealer from the organisation's Treasury function. I said to him that seemed an extraordinarily large amount to have to re-finance every day, and didn't it create some vulnerability were markets to ever not be accommodating? "Oh no", he replied, a bit condescendingly, "it's all fine, we never have a problem". I was semi-convinced, and did nothing further about it.
So when HBOS collapsed a few months later because, er, its short term lending facilities had been withdrawn as a result of what was known as the credit crunch, I was, to put it mildly, frustrated. I'd taken the previous 5-6 years of bonuses in the form of share options. Had I acted on my gut, and cashed them in, as I would have been able to, I'd have avoided a loss that just tipped into six figures when the HBOS share price crashed.
If this been an isolated example, I might have put it down to bad luck. But when I left Lloyds, which took over HBOS, I became a management consultant, and am approaching 10 years in the job. On now countless occasions I've encountered situations or circumstances that seemed intuitively wrong or amiss, I've been met with official explanations and/or reassurances, and yet after digging and analysis my initial reaction has proved to be right. And usually the more senior the source of the reassurance, the more likely there is to be a problem.
And this is what explains my stance with the vaccine - the conditions are the same. On the one hand there's a set of facts that cause me to raise my eyebrow:
- The vaccine is being pushed hard, not just for those who are vulnerable to Covid, i.e. the older, the fatter and the sicker, but to all healthy people (seemingly including children it seems, which is utter insanity), at enormous cost, for an illness with a 99.9%+ survival rate, depending on your exact demographic
- There are cheap and easy ways of avoiding the worst effects of Covid (vitamin D, zinc supplements, lose weight) and treating it if you do get it (ivermectin, hydroxychoroquine) that not only haven't been pushed by governments and their medical advisers, but in the latter case have been actively discredited, not by proving they don't work, but by undermining and attacking the reputation of those who suggest them
- Medical trials for the vaccines don't end till 2023, and their development lifecycle means we can't by definition yet know their long term effects
- Pharma companies have been granted immunity from prosecution for any damage or death arising from the use of the vaccines they've manufactured
No comments:
Post a Comment