statism watch

The Rothschild family has extensive property interests in other developing nations as well, including India. Last year, India’s Financial Express described Evelyn de Rothschild’s concern for Mumbai’s infrastructure and state controls on foreign bank ownership. He’s quoted as saying “With the increase in traffic, they have to clear away a lot of the slum areas and improve the living quality and help the place to be a real [international finance centre]“. Isn’t there an Olympics in Rio coming up as well? Surely this is an excellent investment opportunity.

Flashback: UK: Rothschild bank pitches motorway privatisation plan | Baron Rothschild tags along with Gordon Brown, expects new world order

Richard Eden, The Telegraph
October 10, 2009

When Lord Mandelson pays tribute to President Lula of Brazil at the Banqueting House in Whitehall on Bonfire Night, his Brazilian-born boyfriend, Reinaldo da Silva, will not be the only one hoping for friendships to sparkle. The Business Secretary’s holiday host Nat Rothschild has decided to expand massively his interests in Brazil.

Lord Rothschild’s heir has invested £75 million in BR Properties to take advantage of Brazil’s booming economy.

Nat, from whose villa in Corfu Peter Mandelson reportedly ran Britain while Gordon Brown was on holiday in August, is expected to take a seat on the board of BR Properties. His father is the chairman of the RIT Capital investment group, which is also taking a minority stake in the company.

Nat’s previous property interests centred on Montenegro, where he is investing with another of Mandelson’s chums, Oleg Deripaska, the controversial Russian oligarch.

Mandelson’s relationship with Nat became a major talking point when Mandrake disclosed last year that the former European trade commissioner had, while staying with Nat in Corfu, been entertained aboard the yacht of Deripaska, an aluminium tycoon, whose businesses benefited from tariffs the commission set.

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Once VISA and Mastercard have taken over the debit market and merging it with their credit instruments, will we let them lead us, docile and eager for our affinity program points, away from cash and onto the electronic currency system? The further away from physical money we get, the more control banks have over the money supply.

Flashback: Banks balk at new credit card rules | The next cellphone trick: transferring money | Bullion and Bandits: The Improbable Rise and Fall of E-Gold | Digital Money Forum Pushes For Electronic Currency | Obama signs U.S. credit card reforms into law | Credit card changes benefit families, Flaherty says | Credit companies seek to avoid regulation, create global debit system | US backing for world currency stuns markets | Coming soon to your cellphone: Your credit card via RFID chip | ‘Smart’ Credit Cards, Pilot Project set the Groundwork for Wireless Credit Wallets | New credit cards may shift unauthorized-transaction liabilities to the holder

Rita Trichur, Dana Flavelle, The Toronto Star
October 10, 2009

Voluntary conduct code lacks clout, says critics

Finance Minister Jim Flaherty is putting the final touches on a “voluntary code of conduct” to govern Visa’s and MasterCard’s entry into Canada’s $168-billion debit card market, sources have told the Star.

Flaherty, engaged in intense negotiations with industry stakeholders, is expected to announce the measures in the coming weeks as a complement to his new credit card regulations.

The code of conduct will tackle a number of thorny issues pertaining to both debit and credit, sources said. Those include the priority routing of debit transactions over Visa’s and MasterCard’s networks; the use of so-called “dual-purpose cards” that have both debit and credit functions; and increased transparency around rates and fees.

While the code is likely to call for “a more definitive” fee schedule, Flaherty is expected to steer clear of imposing caps, sources said. Flaherty’s spokesperson declined to comment.

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