This is a story about Tower Hamlets...

Where I live, Muslims aren't 0.9% of the population like in the USA. Where I live, Muslims aren't 5% of the population, like in the whole of England. Where I live, the Muslim population is 46%. What do you think that's like?

Tower Hamlets is a place of huge socioeconomic divide. The council that governs this particular part of the UK, houses some of the poorest members of society, yet it is also the home to the headquarters of HSBC: the biggest bank in Europe, along with massive tower blocks for the likes of Citigroup, JPMorgan, Barclays, Fitch & Moody's, Morgan Stanley, Credit Suisse and giant accountancy & legal firms like KPMG and Clifford Chance.

While I sit on the banks of the River Thames penning essays like this one, slightly inland there are deprived council estates that are the modern equivalent of the Victorian slums. This is London. While I go to the dry cleaners to collect my freshly laundered shirts for the working week, or do some food shopping in Waitrose, my neighbours - certainly those who you would recognise as 'English' - are in the betting shops or buying lottery tickets at the convenience store.

If you think I've wandered into snobbery, you're wrong. I'm simply an observer. It's true that I occupy a priviledged position, but anybody is capable of making similar observations.

You know, I don't feel at all safe, boarding an underground train in a sea of white faces at 6pm on a weekday evening. Canary Wharf is crawling with rich middle-class people, and the station is packed to the rafters. Often times, the escalator is carrying so many office workers down to the packed concourse that people start to pile up at the bottom, in a rather comic way.

But when I head away from the glistening tower blocks filled with middle and back office drones, I start to feel safe again. London never feels like real London when it divides itself. The private estate of Canary Wharf, and the protected enclave of the City of London, with its 'Ring of Steel' are just crying out to be attacked, because they are sending out a message of "no poor people welcome here".

It feels like no atrocity is ever going to be committed in the markets of Brick Lane, where hipsters flock because of East London's famous Asian community. It feels like no atrocity is ever going to be committed on the Commercial Road or on Petticoat Lane, where large courtyards are filled with people praying towards Mecca.

London's great advantage is not integration, but tolerance. Everybody knows that the Edgware Road is somewhere to go and drink tea and smoke shisha. Everybody knows that all the Aussies and Kiwis have colonised Hammersmith and Shepherd's Bush. Everybody knows that Clapham and North London are the places that young wealthy white professionals frequent, whilst Camden is for dope smokers and tourists. Curry on Brick Lane. Chinatown. Little Venice. The cultural divisions are manifest.

London is not in the least bit integrated, but that's its great strength. Rather than relegating the poor entirely into the undesirable suburbs, like with Paris, social housing has brought otherwise 'undesirable' people into the very heart of the city.

The scariest places are Canary Wharf and the City because they have no residential housing, so therefore, they are almost 100% white middle class, filled with guffawing hooray Henries who have absolutely zero idea about the life of an underpriviledged person.

I used to live a stone's throw from the UK's Foreign Secretary - Boris Johnson - but not in a multimillion pound Georgian town house. My landlady was illegally subletting her council flat while she lived a life of idle luxury in Spain. On the towpath of the canal that the back of my apartment used to overlook, I would be verbally abused by Islington and Hackney's less fortunate residents, for being a yuppie. That sort of shit keeps you humble.

Now, 'right to buy' has gifted wealth to a few social housing tenants, but the gentrification of London is a terrible thing.

There are 1.6 billion Muslims in the world, so it's right that I should live in a community where nearly 50% subscribe to the Islamic doctrine. My life is certainly none the poorer for being mindful of important religious events, like Ramadan.

Britain and London's great victory was in diplomacy and tolerance. Our American-style anti-immigration and anti-Islamic rhetoric is only going to fuel tensions that were entirely imperceptible, until the USA decided to involve itself in Gulf conflicts in the early 1990s. We are paying a greater and greater price for the 'special relationship' with the US that affects our long-standing good relations with our Middle Eastern friends and allies.

Citizens of the United Kingdom would be well advised to remind themselves that Iraq, Iran and Syria had a thriving middle class, before their countries were torn apart by war, sanctions and CIA destabilisation.

You reap what you sow, and this anti-Islamic sentiment is completely undermining everything that I stand for as a diplomatic British Londoner.

Tags: #politics #london

This is a story about ethics...

Imagine if you or I got caught laundering the best part of a billion dollars worth of drug money. We'd get sent to jail for a very long time, right? What if a bank got caught doing it, and there was so much evidence that there was clearly a case for criminal wrongdoing that could be prosecuted? Well, maybe you'd get given a chance to get rid of some of your dodgy customers, and nobody would go to jail. Does that sound fair?

Let's think about the financial crisis of 2007/08, when reckless trading meant that the whole banking sector had to be bailed out, causing austerity for ordinary hardworking people. The people who have paid the highest price - with lower wages, job insecurity and cutbacks for frontline services - would never be able to go begging for interest free loans if they behaved so irresponsibly.

Bankruptcy is not a criminal offence. It's OK for a private citizen to run up huge debts, find out they could never hope to possibly repay their creditors, and declare bankruptcy. You don't go to jail for bankruptcy.

So, arguably, what the banks did in 2007/08 wasn't that bad. It wasn't criminal. They had their risk underwritten by governments, so why wouldn't they take huge risks with public money? They were economically incentivised to take those risks, because the precedent of the "too big to fail" bailouts meant that there was no downside risk.

But what about money laundering? What about facilitating payments for drug gangs, dealers, traffickers? If you or I were involved in any of that as a private citizen, the courts would throw the book at us. They'd lock us up and throw away the key. It's criminal.

So, what about the banks? If the biggest bank in Europe - HSBC - was well known to authorities for helping a couple of major drug gangs to launder the best part of a billion dollars in dirty money, wouldn't that be criminal too? Wouldn't people go to jail?

Well, no. Enter the concept of "too big to jail". Just like the financial bailouts that the banks received, banks can also receive Deferred Prosecution Agreements. That is to say, even though you got caught doing criminal stuff, you'll get let off so long as you take some steps to stop doing it in future.

And how long would you have to get rid of your dodgy customers? Well, say the US Department of Justice were thinking about prosecuting you in 2012, you might still be botching the IT project that is apparently 'essential' to get rid of your dodgy customers 4 years later... in 2016.

How much do HSBC really know about their customers anyway? Well, from their electronic records that they already have on file, they know about 6% of what they need to know. So basically, they don't know 94% of what they need to know.

Now, you might not be an IT project management expert, but you'd have thought that it's more important to find out the missing 94% of what you don't know, than even to bother with the 6% that you do know. Sure, it's pretty embarrassing to have to ask your customers where they live again, but what you really need to know is this: where did you get your fucking money?

In Customer Due Diligence terms, this is called Source of Wealth. You might have inherited the money (legit), you might have won the lottery (legit), you might have sold a priceless artwork (legit) and you might have trafficked vast quantities of illegal narcotics (not legit). Basically, HSBC had 4 years to ask all their customers "is your source of wealth drug money?". Did they manage this? No.

I'm quite spectacularly offended by just how badly they botched a simple project to ask all their customers to fess up: are you in the illegal drugs business?

Sure, it's true that HSBC had to cough up a couple of billion dollars in fines, but for them that's just the cost of doing business. Their profitability was barely affected.

Arguments were made to the US to defer prosecution, and to allow HSBC to keep its banking charter and continue to do business in the United States. These arguments were made on the basis of maintaining stability in the financial markets. The Deferred Prosecution Agreement came with stringent terms, that a court would appoint a Monitor to make sure that HSBC actually cleaned up their act. I can tell you now, Michael Cherkasky, that the project to clean up HSBC's customer base was a total sham. A shambolic waste of time & money, mismanaged to the point that the whole thing was laughable.

Do you think that message that is sent to "too big to fail" organisations, that they're above the law and they can never go bankrupt because they'll always be bailed out, is looking like the right one, today, now, in 2016?

The argument that has been made is that we need to prop up the share prices so that the pension funds are protected, and we need to maintain financial stability. Isn't that just utter bullshit, in the face of austerity and extreme volatility in the markets? We've had round after round of Quantitative Easing (QE) and other attempts to breathe life into markets that have lost their minds. There is nothing at all rational or efficient about the global markets that we see today.

And to round it all off, it's corrupt as hell. To allow banks to ride roughshod over the rule of law is the final step in handing over the nations of the world to the multinational corporations who have driven us into a position of financial ruin, much to the pain of the vast majority of ordinary working people. It stinks of the worst corruption ever perpetrated on Western civilisation, does it not?

Somebody has to call time on the lack of ethics and accountability for the too big to fail organisations, and their board members who are too big to jail.

When we allow the likes of Stuart Gulliver to be the CEO of HSBC, when he doesn't even keep his wealth in the bank he manages, but instead keeps it hidden in the Cayman Islands and Switzerland, clearly we have corruption right from the top down.

David Cameron, outgoing Prime Minister of the United Kingdom said, as recently as April, that "[I] can't point to every source of every bit of [my] money" but yet we would have the likes of you or I have to prove that our filthy lucre was not ill-gotten gains from some criminal enterprise. The corruption comes from the very top of both Government and organisations. It stinks.

Who is going to grasp the nettle and hold Government and large enterprise to account for having run us into economic ruin, while busily siphoning wealth offshore?

There needs to be accountability. There needs to be jail time for corrupt executives and government ministers.

Tags: #banking #capitalism #hsbc #politics

This is a story about terrorism...

Do we take stability for granted? In actual fact, I think we do a remarkable job of Keeping Calm and Carrying On, in the face of the threat of violence.

I often think about Britain's role in my lifetime, as a diplomatic and tolerant nation. We made great strides in the Northern Irish peace process, and IRA bombings and bomb scares had almost faded from memory. We managed to protect Salman Rushdie, when he published the The Satanic Verses, while at the same time maintaining a good relationship with the Islamic world. Acts of terrorism, like the Pan Am bombing, were committed on British soil, but yet our nation never stumbled as a respected statesman in foreign affairs.

However, perhaps our politicians took our position for granted.

Entering into an illegal war against Iraq was just downright arrogant and stupid, on the basis of supposed intelligence that was never questioned within the corridors of power, despite the fact that the public were obviously not convinced by the outlandish claims.

Surely nobody can deny the fact that Britain's recent foreign policy has made our nation a target, rather than a safer place for our citizens. The war in Iraq was cited by the 7/7 bombers, as the reason for their attack. Our MPs voted to bomb Syria, further compounding a refugee crisis, and angering the Arab world. Then we held a referendum on leaving the EU, which threatens to derail the Northern Irish peace process as well as unleashing a tidal wave of racist hatred & intolerance.

London needs to remember that Britain is a European nation, and Europe has land borders with the Middle East. We are not the USA, with a massive body of water - The Atlantic Ocean - that separates us from those who want to kill us.

It's OK for the USA to meddle in the affairs of Ireland, Europe and the Middle East, because they are the best part of 4,000 miles away. So long as the Arab parts of the Middle East don't get intercontinental ballistic missiles with nuclear warheads, they're more than happy for Britain to idiotically make itself unsafe in the process of protecting American interests.

Our Irish neighbours who believe in the re-unification of their island under a single republic, can quite easily take a short ride on a car ferry and come and blow us up. Have we forgotten that? I can't really tell you how my fellow Brits in Belfast feel, but I certainly don't want to offend my friends in The Republic of Ireland, by making them feel like Britain is yet again becoming a viciously violent imperialist, at the expense of European peace.

Britain has long had a tradition of multiculturalism, and offending our Muslim population seems unwise. We can't deport people based on their religion. Many Muslims are second or third generation. They're as British as you or I.

The USA can send Israel guns, bombs, tanks and warplanes, in order to illegally occupy Palestine and oppress the Arab people. The USA can do this, because they are thousands of miles away, across vast oceans, from the vast swathe of the planet that they are committing atrocities against. Muslims are just 0.9% of the population of the USA. However, in England, 5% of the population follow the Muslim faith.

Britain is in no position to act like the USA, in terms of foreign policy. Britain is in no position to make itself an enemy with its neighbours and its own citizens.

Horrible racists like Donald Trump might talk about "the ban" on people of the Muslim faith, and this might even be sadly workable, because of the popularity of the policies in a predominantly isolated nation. However, Britain is an island trading nation, a multicultural society, and close to the great landmass of Europe, which borders Asia and the Middle East. We don't have a Panama Canal to the south, and an Arctic wilderness to the North. People quite regularly swim across the English Channel.

To use the language of the USA is ridiculous. We can't talk of imposing our own brand of freedom on people, and riding around the world in war machines, blowing up whoever we like, and then acting all surprised and upset when a few people fight back.

The UK has increased and increased its reckless stupidity with foreign policy that threatens the safety of every peaceful law-abiding citizen. I don't want to live in a country where I have to be mistrustful of the Muslim community, the Irish community. I don't want to go back to the days of bomb scares and terrorist attacks.

Britain and London's great success has been in welcoming visitors to our shores. I feel safer in a multicultural London, than I would in a sea of angry white faces, all chanting jingoistic racist nationalistic tosh, at the expense of national security.

You can't use violence and aggression to bring peace. All that warmongering foreign policy, and racist domestic policy, will accomplish, is to alienate the many cultures who had previously felt at home in Britain, and turn ourselves into a proxy target for those who seek to hurt the imperialists that oppress them.

Having Tony Blair as Middle East peace envoy was a dreadful insult to the Arab world. What on earth is Britain doing, other than painting a big target on its back?

Tags: #terrorism #politics #london

This is a story about an ambitious project...

How would you go about uploading yourself to the cloud? Have you thought about death, and what happens to your personality, your mind, once the apparatus of your body ceases to be a viable vessel for its preservation? Do you want to live forever?

I unfortunately lost my original Google Mail account - grantnick@gmail.com - which I had since 2004. I've now accrued 6.6 gigabytes of email across my new accounts - nick@manicgrant.com and h@ckte.ch - which are both managed by Google and therefore fully indexed for search.

Did you know that you can download all your data from Facebook? I've been a member of Facebook for the best part of 10 years. Facebook probably knows me better than any other piece of technology. It knows where I've been, and who I was there with. It knows who I talk to, and how regularly. It knows what I've chosen to share, as status updates, which are often quite personal and private.

If you dig around in the old parts of the Internet, you can even find me in the Usenet newsgroups, writing under my own name, back in the 1990s. The old content of newsgroups has been preserved for posterity by Google.

So much of my digital identity has been lost, as I moved off the dial-up Bulletin Board Systems (BBS) onto my first email addresses with CompuServe, America On-Line and Hotmail. I then made a bad habit of using work email addresses for personal mail. That means that when I left those companies, I left behind all my mail archives. All that content is now in the virtual trash can.

Losing my Google Mail account felt catastrophic at the time. I even leveraged my contacts and managed to get David Singleton - Engineering Director at Google - to try to resurrect my account. However, I had been caught hacking, so I wasn't shown any favours. My pleas that it was "white hat" were ignored, when I was in clear violation of the Terms of Service.

I used to write on a forum for the British Kite Surfing Association (BKSA). That forum was then decommissioned, and all those old posts were lost forever. I then moved to the kiteboarder.co.uk forum, and you can still find my old content on there. I used to be one of the top contributors.

But, would you even be able to reconstruct my personality, from all that email, and those social media contributions?

What's the difference between a film adaptation and the book it's based on? In the film, it's very hard to include much of the internal monologues of characters. Using a voiceover, a narrator, sometimes works, but often we lose the very thing that makes a book so wonderful - to know how the characters think & feel.

When I'm writing something for somebody else to read, more often than not, I'm instructing somebody to act, or passing on information. It's rare that I'm opening up and giving an insight to the inner-workings of my mind. In fact, with most interactions, there is a necessary formality. I'm sure my colleagues wouldn't appreciate it if I polluted our emails with random thoughts and updates on my state of mind.

I've always had a candid, open, style of writing and speaking. I leave little to the imagination about the way I'm thinking and feeling. However, it's still a guess though, because there is actually very little opportunity in life to really open up and let the true essence of yourself flood out.

We are always held back by that voice in our head that says: "but what will people think?". We worry how we are going to be viewed, when we write, when we speak. We are constantly self-censoring and projecting things in a certain way, saying certain things, to try to maintain an image that we deem necessary for our relationships.

"I can't tell my boss that I'm on the verge of a nervous breakdown, because they will think I'm unreliable" we might say to ourselves. Or we might say "I can't let this attractive person know that I have any faults, or maybe they won't fall in love with me". We might say "I can't let my family know I'm on the brink of suicide, because that will stress them out".

The version of yourself in all those emails, videos, social media posts... it's not a very true version of yourself. You've been constrained by social protocols. "How are you?" is always followed by "I'm fine thanks". Nobody expects you to reply "I'm on the verge of killing myself. My life is misery". Nobody will thank you for giving an honest answer.

So what happens is we live a lie, and there is no true version of yourself in existence, except for the one inside your head that you never let anybody see.

If we were to reconstruct you from everything you ever wrote, everything you ever said, we'd get a corrupt version of you. The version of you that would be digitally recreated would say and do all the right things, but the thoughts inside that virtual brain wouldn't be right. All those things that you wanted to say, but didn't, simply wouldn't exist.

I have to write 1,318 words in this post, and then I've hit 300,000 words. It was easy. A novel is considered to be a text that is over 40,000 words. I've written the equivalent of 7 novels, by that measure. It's taken just 10 months.

Would you find it easy, to dump the contents of your brain out, in all its gory detail? No, I'm sure you wouldn't. Even when you're writing a diary, you're probably thinking "what if somebody read this?". You even worry about what you think of you. You try to impress yourself. You try to hide your innermost feelings, even from yourself.

The Internet is full of abandoned blogs. You can see a flurry of activity that normally spans a few months, and then peters out. You can see the sporadic posts, when a dead blog is resurrected, months or even years later. However, what's rare is the person who writes consistently, reliably, regularly.

There are piles and piles of blogospam out there, but can you really reconstruct a personality from any of them? There are people who blog about knitting, people who blog about their pets, people who blog about stargazing, people who blog about sports. Can I infer who you are, or who you were from any of this vast quantity of data? Do I really get a sense of the person, from your online persona?

Google has analysed my 300,000 words of content, and tried to figure out what I'm writing about. Google has tried to figure out what's significant in this body of work.

Somewhere in Google's servers, everything I've written has been indexed for search. In a way, I'm already alive in the cloud. People from all corners of the Earth can find me, when searching for topics that Google knows are significant. Those seekers can know how I feel, what I think. They can delve into a very private world that you ordinarily would never get to glimpse.

Do you want to live forever? Perhaps you already do. The recorded history of humanity survives death, even in the stories we tell about our dead friends and relatives, and influential members of a community. Somebody somewhere has seen your digital content, even if it's just the electronic eye of a machine. Who knows where your data is going to end up?

Those who educate, inform and entertain have a reach that goes beyond their family and friends. Those who put themselves out into the public domain have a reach beyond living memory.

My mother looks after the archives of those few people who we deem to be culturally important enough to preserve, for the Bodleian Library in Oxford - one of the oldest libraries in Europe. While the library has a digitisation project, aren't we looking at things the wrong way?

107 billion people have been alive, ever. That means you're part of about 7% of the human creative output that could ever be recorded. Writing is a relatively recent phenomenon, and the ability to output to a digital medium with no lengthy conversion process and no loss of fidelity, is something that has only come about in the lifetime of those who are alive today.

When I write, it's not as a medieval monk, in some priceless hand-scribed tome that will be squirrelled away in some private library. Instead, I write as a citizen of the planet. My writing is captured in the public repository of the Internet, and is accessible to almost every living soul.

And, what advantage, the fact that what I have created has already been digitised? Well... my content is already in a format that's friendly for machine learning.

Speech recognition and optical character recognition can understand the spoken and printed word, but it's slow. The cloud has already greedily swallowed my 300,000 words, and processed them in order to serve them up to any consumer who cares to use them.

Is it arrogant and naïve to consider whether there is any merit in this hefty lump of text? Well, we are not going to know how Artificial Intelligence and machine learning are going to advance in the coming decades. Moore's Law predicts the exponential growth of computing horsepower that can be bought for a fixed cost. However, the game changer is when computers are no longer programmed, but are instead taught how to do things.

How would I go about teaching a computer to be like me, to think like me, to speak like me? Well, it would be like teaching a child. I'd sit down and talk to the computer. We would have a conversation.

However, how long would it take to speak to a computer, before you had provided adequate input? How long would it take the computer to process the sound into a stream of text? How long would it then take the computer to process the stream of text into a form that it can understand? How long would it take the computer to then crunch the numbers and attempt to say its first words?

If I was going about this project, I'd want to provide a body of text in a consistent format. We all speak with different voices. We all have our own unique style. Language is a somewhat crude way of expressing yourself. Human communication is full of flaws, when it comes to transmitting the contents of our brains from one being to another.

I could feed a computer with digitised books. I could feed a computer with Wikipedia. I could just let a computer loose on the open Internet. However, would it be able to cope, without context? How is the poor computer going to cope with all those different voices, different languages, different agendas, different writing styles? How is a computer going to get from the complete works of William Shakespeare, to understanding the inner-workings of the Bard's mind?

I'm sure we're already within touching distance of having a computer system write a convincing love letter. We write great volumes of soppy crap to the objects of our affection. However, while the art of seduction and the emotional patterns of those who are engaged in the courtship ritual are not hard for our mechanised chums to understand, do we really know much about a person from their attempts to get their leg over?

For me, there's so much more depth to the human mind, than what we can see through forced interactions in the context of getting along with one another.

There's so much magic in the secret diary. From Anne Frank to Adrian Mole, and agony aunt columns, we voraciously devour anything that's private and intimate. Words are normally a crude means of making any kind of emotional contact with the being that hides behind those glassy eyes.

This essay is not an instruction manual on how a machine may pass the Turing Test, but when you build a computer system, you also have to think about how you're going to prime it. What is your input data? Garbage in, garbage out.

In a way, we have already succeeded. If I died tomorrow, and you wanted to know more about who I was, how I thought, what made me tick, you could do a lot worse than perusing the pages of this particular publication. If you can't get a sense of who I am from these 300,000 words, is there really any hope that Artificial Intelligence will ever be human-like. If we can't understand ourselves, what hope do machines have of understanding us?

Now, the question is: did I write this, or did I get a computer system to do it for me?

The brilliant thing about AI, is there's no wiring diagram, no schematics. Just like a brain.

Tags: #computing #writing #immortality

This is a story about premonitions...

Our perception of reality is subjective, and it is coloured by our state of mind. I'm deeply depressed, so I tend to see everything as negative, hostile, and doomed to failure.

Yesterday, I was writing a piece about how I thought the markets had over-corrected, and how I expected to see another rout in the FX and equities markets, of Sterling and the FTSE. Little did I know, that as I was writing, a terrorist attack was occurring in Istanbul, Turkey.

When your mental health is suffering, sometimes you can start making too many connections, seeing too many co-incidences. Last year I started to misinterpret events as significant in my life somehow. I started to feel overly connected to things happening around me - because I was unwell - and thought I was at the epicentre of a seismic event again, like during the Credit Crunch, when I felt at the very heart of the derivatives market and Credit Default Swaps, with JPMorgan.

Michael Cherkasky, the monitor from the US Department of Justice, still isn't happy with HSBC's customer due diligence, but nobody seems to give a shit. The share price might have dropped almost 20%, but so far as I know, nobody's going to prison for not warning the shareholders, which would be a violation of the Sarbanes-Oxley Act, which has tried to force public corporations to be honest and open when things are going wrong.

The thing is, the show must go on, and everybody has a vested interest to some extent. Bear Stearns couldn't fail, because the markets were already spooked by Lehman Brothers. Greece couldn't default, because the entire stability of the European single currency and the stability of global markets was at stake.

Even now, with Britain prompting a disorderly rush for the door, and the potential for systemic collapse, as a domino-like chain of events is set off, we are still seeing a surprising amount of stability.

Market economics is supposed to weed out the weak and the reckless. The companies and governments that have gone beyond their means are supposed to be punished by the market, but actually what we have all demanded is stability, not a free market.

Really, Bear Stearns should have been allowed to fail, AIG should not have been bailed out, Greece should have been allowed to default on its debts, the UK should be allowed to precipitate the collapse of the Eurozone and the inevitable failure of the Euro and debt defaults across Southern Europe.

What people seem to be voting for is the free market that we supposedly have. Where would we be, if we had bitten the bullet in 2007/2008 and not simply propped everything up? Aren't we going to have to suffer a global recession that is many, many times worse than it might have been if we'd allowed reckless companies and governments to fail earlier?

However, the politicians and the banks believe that they've been tasked with economic stability. Certainly, the Bank of England's brief is to try and maintain inflation in a certain range. It certainly runs contrary to our Keynesian understanding of economics, when central banks are actually used to prop everything up, to maintain the status quo.

Gordon Brown famously declared that we had seen the end of boom & bust, but haven't we simply made a farce of the idea that debts ever have to be repaid, and there isn't an endless supply of money?

Civilisations normally fall when the burden of debt is unmanageable, but creditors refuse to forgive debts.

The world needs to deleverage, to have a debt haircut, for debts to be forgiven. The system has failed. There's no moral hazard. Everything is too big to fail. There is no market economics anymore.

I think that what people want is either inflation, to inflate away their debts, or debt forgiveness, because they are over-burdened with huge mortgages, student loans etc. etc. People feel that they've been hurt in the pocket, and they really don't care about the stability of stock portfolios and the value of Sterling.

I see the Brexit decision as almost a vote to accept a devaluation, in the hope of stoking up domestic inflation. It's a vote to accept volatility and chaos in the financial markets, that we supposedly wanted to avoid during the Credit Crunch, but people were never asked if they were OK with a whole heap of bad banks going bankrupt.

Yes, people are probably naïve about how upset they'd be about their life savings being wiped out, and having to use a barrowload of pound notes to pay for a loaf of bread, but perhaps it's better than their lives of quiet desperation, while the rich get richer and the poor get poorer?

I'm incredibly impressed to see stability in the markets today, but I don't think that's what anybody wants. People are looking for a shake-up in the pecking order. People are rocking the boat, because they're unhappy, and they literally don't care about the global economic impact and systemic risk. Perhaps propping it all up, and forcing a very long period of austerity onto everybody wasn't such a smart move.

The next question is: how far are the wealthy prepared to go, in order to get their pound of flesh?

Tags: #politics #banking #capitalism #hsbc #politics #europe

This is a story about volatility...

Most people don't like Mondays. I don't like Wednesdays. I refer to them in my own mind as "whacky Wednesdays" and try and make a mental note not to be travelling anywhere on that midweek hump day. The world always seems to be going bezerk on a Wednesday.

I woke up early this morning to check what the Nikkei - the top 225 shares traded on Tokyo's stock market - was trading at. Money has to go somewhere. When money takes flight, it can run to save-haven currencies, like the Swiss Franc, or it can flow into to other global markets: heading East or West in a follow-the-sun tidal wave. 3 trillion dollars are currently on the move.

Capital can move into scarce commodities like gold when stuff is really turning sour, like it did in the lead-up to the credit crunch. Finally, there are the bond and gilt markets, for the mugs who believe in the power of governments and corporations. Built on top of all these securities are quadrillions of dollars worth of derivatives, but it's very hard to get any sense of what the value of these 'assets' are, and where they're held.

Derivatives are a bet on an underlying security's value. Futures and options are the classic instruments, that allow you to bet that the share price of a company is going to rise or plummet more than the market expects.

The thing about placing a bet is that it manipulates the market. George Soros was famously given so much leverage by the investment banks backing him, that he was able to exhaust Britain's foreign currency reserves and force the UK out of the European Exchange Rate Mechanism, causing the value of Sterling to plummet.

Laughably, people were able to speculate on the outcome of the EU referendum in very much the same way... including George Soros! The amount of commission earned by investment banks on trades last Friday will pay for some pretty good bonuses this year, I expect. The result of the referendum was obvious: speculators had placed such big bets that there was a vested interest in the result.

When a jockey jumps off a horse, or a goalkeeper throws a game, are we surprised? An entire baseball team fixed the world series, for fucks sake. It's basic economics: people respond to financial incentives.

If you want to know what's going to happen, just follow the money.

Vast sums of money flooded out of Kuwait before Saddam's invasion. Loose lips sink ships, but loose lips also make the whole capitalist system go round. How do you think hedge funds know what to bet on? They've got a fucktonne of bent lawyers, who tell them what's happening with every merger & acquisition... that's how!

You can somewhat regulate share dealing: it's obvious when somebody has bought or sold a big stake in a company. But with spread betting, derivatives and FX, there's no record of who was clearly 'insider dealing'.

Opinion polls and equity markets mean jack squat. If you want to know what's going to happen in the global markets, have a look at which way the betting is going.

When it comes to bookmaking, the favourite is the one that's likely to win, right? Well, err, not exactly. A bookmaker's job is to price things according to sentiment not probability. If you want to sell anything, it has to be at an attractive price to your buyer.

So, when we came close to the referendum, there were very generous odds on backing Brexit. What does that say to me and George Soros? We're both speculators. Neither of us hold a position. We've got a big purse of money, and we're going to back a particular outcome, and the bookmakers have baited their hook, looking for a buyer with deep pockets.

In a year where the 5,000 to 1 shot, Leicester, win the Premier League, surely people could see that the generous odds were pointing to something? In a 1 in 20 horse race, odds of 1 in 5,000 are generous. In a 2 horse race, the odds that we would remain in the EU peaked at 86%. Don't you feel just a little dumb, if you think that everybody is playing fair? There's so much money at stake, why would they?

Why do the rich keep getting richer, and the poor keep getting poorer?

Well... the game is rigged you stupid c**ts. From sharp-elbowed parents getting their kids the best places in school, to executives making sure they get a big pay-rise and bonus while holding down the wage inflation of their underlings. This isn't some illuminati conspiracy-theory bullshit. The hard data is right there in front of your eyes.

So, tomorrow, your pension fund gets trimmed still further and your currency takes another hammering. More wealth leaves your pocket and enters the pockets of the guys who know what's going to happen next before it's even happened, because money talks.

I also fear that there is going to be some terrible event soon, because of the forces of hell that have been unleashed by this jingoistic rhetoric, hateful language and right-wing empowerment. I have this feeling of dread that a mosque is going to be desecrated, or another person like Omar Mateen or Thomas Mair is going to commit an atrocity. The tinderbox of hatred has been set alight by those who seek to profit from instability and volatility.

Anybody who thinks that bankers are suffering from the Brexit vote is an idiot. The markets love volatility, and trading floors are making a killing.

Tomorrow is business as usual in the City and with the hedge funds, and the idiotic British public have played into the hands of speculators like George Soros spectacularly, yet again.

Tags: #banking #capitalism #london #europe #politics

This is a story about bad news...

First and foremost, I'm a member of the human race, living on planet Earth. We all have the same needs: oxygen, food, water, warmth. The needs of our species are no different, depending on where you were born. We are virtually genetically identical, no matter what your passport says, and what colour your skin is.

Secondarily, I belong to the continent of Europe. I could probably swim across the English Channel to get to the mainland, and I'm certainly considering it in light of recent events. I don't know if you remember this, but we even built a tunnel under the sea, so that we could be connected with our nearest national neighbour.

What even is a nation anyway? What are these fake divisions that we create? What are these lines on maps?

Do you think I can tell Frankie - my kitten - that he needs to stay within some kind of imaginary zone, whenever I let him out into the garden? Do you think he'll understand that he's allowed to play with cats who were born on a certain patch of dirt, and not others? Do you think Frankie feels proud when he sees a Union Jack flag?

How do I explain recent political events to my cat?

Frankie was rather fond of the French and German cat treats, but now that we have to import them and the value of the pound has plummeted, he may have to settle for bland English cat snacks. How do I make him understand that somehow this is because a bunch of people voted to cut themselves off from our neighbouring nations? How do I deal with his sad eyes, when he sees that he's not getting his favourite food anymore? Do you think he's pleased that I'm "buying British" and feels proud when he sees the little Union Jack on the can or packet of food?

Also, people are starting to be mean to poor Frankie, because he's half black. Just because of the colour of his fur, people are shouting angry abuse at him. He doesn't know why. He poops on everybody's garden equally - he doesn't discriminate based on fur colour. In fact, he's kinda colour blind because he's a cat.

How am I supposed to console poor Frankie, when he comes home meowing with sadness, because he feels less welcome in his own home than he used to? It's not fair that he lives in a world of black & white, when he is neither pure black, or pure white... he straddles a border that has been invented by people who want to divide us all.

Shouldn't kittens everywhere be free to roam, as if there were no borders between one garden and the next? Isn't it better for a kitten to be able to play with whichever cats he wants to, without having to check their pet passport, and ask to see their family tree?

Where do we draw the line? I'm not even sure of Frankie's ancestry, because he's a cat, and we don't keep a record of the births, deaths and marriages of cats. For all I know, his parents were Pakistani stowaways and here in the country 'illegally'. He doesn't look like an alien, he looks like a cat, but perhaps he's not welcome, because of which particular bit of dirt he happened to be born on at any one time.

How do I explain to him, that because of his fur colour, people assume that he's not British, and he's therefore unwelcome in the place of his birth? How do I explain to him, that a bunch of people want to "send him home" when he's already home? Where the hell is his home, anyway? Where do you want to send him, you beastly idiots?

As the parent of a kitten, how am I supposed to explain any of this to such an innocent creature? He doesn't want to hurt anybody. He just wants to eat cat food, sleep in the sunshine and shit in your flower bed. He doesn't even want to hurt a mouse - he just likes playing with them and leaving them as little presents outside the back door.

Chucking Frankie out of 'your' country, because he's got a bit of black fur won't help you. Discriminating against my cat is not going to get you a job, it's not going to get you a council house, it's not going to reduce the queue at the doctors or reduce the class size at your school.

I have a cat because he improves my life. All those fluffy cuddle times. The relaxation I get from stroking his lovely soft fur. My life is better with a black & white cat in my life. I'm glad he's here.

Yes, sure, I'm scared about my job security, and whether any human children I might have will have everything their heart desires. But, I know that being mean to a bunch of innocent kittens isn't going to solve the problems in this country.

Cats enrich our lives, wherever they were born. Cats come over here, eat our food, take up space in our favourite seat, don't even work. But, I'm certainly grateful for what cats bring to my life. I'm happy to see their little whiskery faces, no matter what colour their fur is and where they were born.

Yes, OK, maybe it's not you who is being mean to cats, but your actions certainly legitimised the abuse of poor kittens. Because you sided with the bunch who want to discriminate against cats of a certain fur colour, you ended up supporting their cause. Because of your selfishness, cats like Frankie don't feel welcome in their own home, just because he's got some black fur.

You might think that you voted in the interests of your own kittens, but all kittens are equally fluffy, cute and loveable. Why do you think it's OK to be mean to my kitten, by trying to put the needs of your kitten ahead of the whole of the rest of kittendom?

All cats should be treated equally, and dividing them along lines that they can't even understand is barbaric. Cats can't read the nationality on their pet passport. Cats can't read maps and understand the concept of national borders. Cats can't sing national anthems or salute the flag. Cats are scared by the sound of guns. Cats aren't able to stupidly glorify war and killing.

Can't we all just celebrate the joy that cats bring to our lives?

Think of the kittens.

Look at the sadness in those eyes. Heartbreaking

Tags: #frankie

This is a story about the last word...

Is this a time for levity? Should we go back to our normal everyday lives, as if nothing important is happening in the world, apart from funny videos of cats and the banality of our everyday existence?

What is Facebook for? Is it a soapbox for those without a voice in the corridors of power? Is it somewhere to spam your friends, with your thoughts, ideas and political agenda?

I have no idea what the answers are to these questions, so I look to people that I like and respect, and try to imitate their behaviour. I have a friend who is a vociferous Conservative party member, who shares many opinions on Facebook, so this encourages me to set myself up, in opposition somewhat. I have another friend who is an admirable humanist and eloquent writer on the topic of social injustices, who keeps me informed of many things that are unpleasant in the world, and how compassionate individuals are seeking to drive back those evil forces. This encourages me to share messages of hope and support in this cause.

You don't have to read my blog, and you probably don't. You've seen it pop up on your Facebook wall enough times, and been confronted with somewhat of a wall of words, or some kind of shame-spiral and deeply personal things that should perhaps never be shared.

Just ignore it. It will probably go away. Just one blog post a day is pretty easy to ignore.

But what about when it becomes a raging torrent of social media sharing? What about when your Facebook wall or Twitter feed is filled with a person with a bad case of verbal diarrhea? Time to unfriend them? Time to unfollow them?

The reason why I won't shut up at the moment is summed up neatly by this famous quote:

All that is necessary for evil to triumph is for good men to do nothing

The far-right have been encouraged to go on the rampage, and I can't see what's going to curtail the rise and rise of racism. What will cause the bigotry, xenophobia and outright fascism, to be stopped in its tracks?

I was going to spend the evening watching light entertainment television shows, or perhaps a couple of films, but I have been provoked into breaking my one-a-day blog post rule, by the fact that a couple of people I like and respect think that their work is done. They voted, made their protest, and now it's time to crack open the champagne.

In actual fact, whatever the political outcomes, I really don't give a shit whether I have a British flavour of democracy or a European flavour... I just don't want racists to think that it's OK to abuse people in the street.

I don't want people laminating little cards and shoving them through the letter boxes of Eastern European people, telling them they're "vermin".

I don't want racists on a bus telling anybody with a darker skin tone, or speaking in a foreign language, that they are not welcome here in the UK.

I don't want people shouting racial abuse in the street.

Perhaps these things would have occurred, whichever way the vote went, but my intuition tells me that it somehow seems more acceptable in society to be racist, when you feel like you're in the majority.

Does it seem like I'm being a patronising patriarchal London effeminate City banker-boy ponce to you, if I remind you that immigrant bashing propaganda was how the Nazis swept to power. Of course, it seems like I'm an over-earnest teenager, in making such an obvious observation, but somebody's got to call it out, haven't they?

You can't just say "I'm bored of hearing about your anti-racist sentiment now. I want to see a dancing cat on stilts playing a piano. HA HA HA!". You were either part of the group that ushered in this dark era of mistrusting Johnny Foreigner and bashing the darkies, or you were part of the group who said "hey! let's be inclusive and tolerant!".

I really couldn't give two hoots about which group of elitists rule my life with an iron fist, if we're going to be overrun with skinhead neo-nazis and suffer the resurrection of fascism in Europe.

Does it not concern you more that we need to shut down detestable entities like the BNP, UKIP, France's Front National etc. etc. as a priority?

There is no victory to celebrate in the 'majority' vote. There is no "the people have spoken and it's time to move on" when huge numbers of those people are FUCKING RACISTS. Priority #1 for the country has to be shutting down the far-right, not shutting each other up so we can all go and live in la-la land where we all have milk and honey because we're politically governed slightly differently.

Don't you get it? There is no "move on, let's be positive" when groups of disaffected people are out looking for a mosque to torch, or a person with different skin colour to them to abuse.

Will I shut the hell up? Will I fuck, when the ugly face of fascism is showing itself again.

There's perhaps an important lesson to be learned about whether people like myself - the London Guardian reader - have helped or hindered, but I certainly predicted this result and its consequences, and I certainly understand all the concerns of the underclass.

Will I stop spamming my Facebook friends? Yes, I'll probably retreat into blog-land, where I can write at length without taking up a disproportionate amount of space on a wall that should be filled with grinning infants, prowling pussycats and raucous nights out.

What will you say though, to your grandkids, when they ask you what you did after the UK voted to leave the EU?

Tags: #politics #europe #friends #socialmedia

This is a story about body shopping...

What's the difference between a temp, a freelancer, a self-employed person, a contractor and a consultant? What's the difference between an employee and an entrepreneur?

Last year I was working for HSBC, along with a bunch of nice folks from several different consultancies, plus a handful of permanent members of staff. The teamwork was brilliant, but the surprising thing was that we all had different agendas.

Given that I had gone back to HSBC as a contractor, having been a permanent member of staff there for over 4 years, it was somewhat of a mindset change. I was also homeless and still very much in the vice-like grip of drug addiction, which wasn't a good start.

I was exhausted, and I had somewhat induced within myself, some fairly major symptoms of mental illness, which caused me to make some rather outlandish interpretations of the reality I experienced.

Imagine being plucked from the park, where you are living and contemplating bankruptcy and the coffin nail that will drive into your career, your business. Imagine facing up to the reality that everything you're qualified and experienced to do, since you started IT contracting at age 20, is now going to go down the shitter, and you're homeless, abandoned by the state - the council have sent you a one-line email saying that you're not even worth a hostel bed to them.

Then, imagine that almost overnight, you're working on the number one project for the biggest bank in Europe. You're so exhausted that you are sleeping in the toilet. Everything seems surreal, from the moment you put on your suit in the morning in a hostel dormitory paid for with a credit card you can't afford to pay off, to the moment you turn up in the headquarters of a prestigious Tier 1 bank that you used to work for, when you were clean, sober, young, happy, ambitious, energetic, enthusiastic and respected.

The challenge was to get through 60 days of working, without running out of credit completely. I had to get to work every day and pay for my hostel bed, for a whole month before I could submit my first invoice, which would be paid 30 days later. Obviously, it also looks rather unusual to your colleagues if you can't afford to eat lunch or socialise. The pressure was immense.

What does a poker player do, if they have a weak hand? They bluff, obviously.

To compensate for my fear, and the odds that were stacked against me, I turned the dial up to 11. I tried hard. Far, far too hard. I told the team that I'd take responsibility for a critical piece of work, and deliver it in a short space of time, along with an extremely capable colleague, who actually knew that it was a monster piece of work.

I should have been laughed out of the door. I can't believe that nobody particularly picked up on the fact that I was shooting from the hip, out of a combination of fear, exhaustion, drug withdrawal, mental illness and a touch of arrogance.

How on earth was my ego not going to be stoked? I had just cheated death, bankruptcy, destitution, and now I had the CIO of the number one project in the biggest bank in Europe surprising me, by naming me in person, as the team member responsible for one of the pivotal pieces of the program, in front of the entire town hall. I looked around - "is he talking about me?" - yes, it appeared he was. How surreal.

As a drug addicted homeless person, you're kind of invisible. People would like it if you just crawled into some dark hole and died, quietly. You're nobody's problem but your own, and everybody pretends not to notice you, as you drag your bags through the street, swatting at invisible flies and talking to yourself incomprehensibly.

Suddenly, people not only seem to value you, listen to you, but also look to you for some kind of professional guidance, leadership. Is this the state that important IT projects have reached, where the hobo junkie is the one calling the shots? I realise that I wasn't actually calling the shots, but that's what it feels like when you've been scraped up from the pavement, stuffed into a suit and now you're working in a fancy office full of glass, steel and granite.

It embarrasses me, but also pleases me that I'm still on good terms with a few respected colleagues, and they can tease me about "the time when you said you were going to deliver X by Y". However, not everything I said was worthless tosh.

This is where the difference in mindsets comes in.

As a permanent member of staff, your best shot of getting pay rises and promotions is to raise your profile. Given an hour to do some work, you might as well spend 50 minutes writing an email about what a brilliant person you are and how clever you are, and 10 minutes actually doing some work, rather than the other way around. People who just knuckle down and get on with the work they're supposed to be doing, tend to be overlooked when it comes to the end of year review.

As a contractor, you're all about contract renewals. When your contract is coming up towards its end, you're on best behaviour. You try to shine and make yourself a key-man dependency, so that you can demand a big rate increase, because you're indispensable. Personally though, I hate making myself a key-man dependency. It's unprofessional, however you are economically incentivised to do it, so many contractors dig themselves into little fiefdoms.

As a consultant however, you have the worst of both worlds. You have to kiss the arse of both the client and your consultancy. There's a huge conflict of interests. The consultancy want you to stay on your placement, and for as many headcount as possible to be working with you on the client project, if you're working time & materials. What exactly is consulting about being a disguised employee? Where is the value-add from the consultancy, when the client wants you to be embedded in their organisation, like a permanent member of staff?

The reasons for using consultancy staff, contractors, temps, freelancers, is that you can get rid of them when the project is done. However, the other reason is that you don't have all the headache of having to performance manage underperforming and difficult staff members out of your organisation. In theory, it's a lot easier to hire & fire... with the firing being the desirable bit.

It used to be the case that you could get a job as an IT contractor with just a 20 minute phone interview and start the next day. If you were shit, you'd just be terminated on the spot. Never happened to me, but that was the deal you struck... you'd be on immediate notice for the first week. Then you'd be on a week's notice. Then you'd be on 4 weeks notice, just like a permie. However, I always used to get my contract renewed, because I know how to play the game, kiss ass and keep my lip buttoned at the right time.

So, what happened? Well, stress, money, recovery from addiction, relapse, housing stresses and everything in-between conspired in my private life to mean that I was living life by the seat of my pants. I was running for my life.

After only a week in the new job, I decided that it was an impossible mountain to climb, and that there was no way that I could live in a large hostel dormitory and work on a stressful project, plus get myself clean from drugs, plus dig myself out of near-certain bankruptcy. There were just too many problems to face, working full-time in a crisply laundered shirt and a nice suit, while hiding the crippling problems in my private life.

You can't just go to your boss and say "I'm sorry I didn't mention this before, but I'm a homeless recovering drug addict, who suffers mental health problems at times of extreme stress and exhaustion, and I'm practically bankrupt as well as barely able to keep myself clean, sane, out of hospital and off the streets". Contracting doesn't work like that. Your personal life is nobody's problem but your own... you've signed that deal with the devil. You get paid more, but you're also expected to not get sick and not bring your personal problems with you to the office.

I disappeared on my second week in the job, getting mixed up with the police, thrown out of the hostel where I was living, and ending up in hospital, as the pressure was simply too much to bear, I thought that my lifeline was pretty much spent. The odds of being able to get off the streets were too slim anyway. It couldn't be done. I gave up, and relapsed.

Do you think you can just pick up the phone and say "errr, yeah, I need two weeks off to sleep, an advance of several thousand pounds, and I'd like to come back to work part-time for a little while until I'm up to full strength, because I've been dragging bags all over London, living in parks and on heathland, in and out of hospitals, rehabs and crisis houses, addicted to some deadly shit and battling mental health problems. It seems silly that I didn't mention this at the interview, as I'm sure you would have been just fine with giving me an opportunity to get myself off the street and back into the land of the living"?

You know what though? I did get a second chance. There's no denying that certain allowances were made for me. A blind eye was turned to the fact that I was basically either shouting at people or nodding off in meetings for the first week. I went AWOL twice. Once for a whole week where I basically decided that everything was f**ked and there was no way I could ever make things work, and once for nearly a whole day, when I was swept up in the euphoria of working with nice people and got paralytically drunk with my colleagues and couldn't face telling my boss that I was sick again.

Through my divorce, I lost heaps of friends who were shared with me and the ex. I decided to move back to London, because I knew I could find lots of work. However most of my London friends had moved out of town, in order to start a family. Also, you don't make many friends when you're living in a park sniffing supercrack, and getting hospitalised for 14 weeks a year. I can tell you more about the private life of a friendly police officer that I know, than I can tell you about some other acquaintances from that turbulent period.

Anyway, I was desperately trying to cement things - get my own flat, get some money in the bank, get into a working pattern that was sustainable - but it was too much to ask. 'Friends' sensed that I was recovering, and decided to come asking for favours : lend me some money, let me live with you, give me a job etc. etc.

When you're desperately lonely, because you've split up with the two loves of your life - your wife, and supercrack - you're vulnerable to wanting to people-please. I risked my reputation, when I got a so-called friend an interview, because he pressured me. I overstretched myself, renting a flat that swallowed up all my money, which was my safety net. I didn't even pick my flat... my friend did, and he thought he was going to get to live there rent free. I put up with a lot of shit, because I was desperate for friends, for acceptance, to be liked.

If you think all this can be boiled down to a 'drug problem' you're wrong. In order for a person to feel whole, they need friends, they need a job, they need a place to live, they need to feel that they're living independently : paying the rent, earning their money, able to pay for the essentials of life, and not always just hustling, on the run.

There are quite a lot of pieces to the puzzle that is a complete life that's worth living. Do you really think I just want to be kept alive, in a straightjacket in a padded cell. Is it unreasonable to want to work, to want to feel like I'm making a contribution, to want to feel like I'm liked, loved, to want to feel like I exist, and that I'm valued somewhere, by somebody?

I loved the instant social connection I had with the "winners" who were a group of fellow consultants at HSBC. There was good camaraderie, and they were young and enthusiastic, not bitter and jaded like me. Their enthusiasm for their job and inclusive social circle was exactly what I needed, along with cold, hard cash, and a place to go every day that wasn't a bush in a park, with a wrap of supercrack.

Somewhat unwittingly - although I don't know how much people were able to guess or find out behind my back - the Winners bootstrapped my life. Even though there were the usual commercial rules of the game, about being a disposable contractor who's supposed to keep their mouth shut and not rock the boat, there was still bucketloads of humanity there. People were kind to me. They invited me into their lives, and in doing so, they saved mine.

When a colleague texted me while I was in California, to say that we had to go back to work doing the shittiest possible work for a scrum manager we didn't have a whole heap of respect for, it was pretty clear that it wasn't sustainable. I busted my balls to get cleaned up, off the streets, into a flat of my own and to restabilise my finances. However, I've never been the best at buttoning my lip and allowing myself to be 'managed' by somebody I have barely concealed contempt for.

I knew that all I had to do to get my contract terminated was to send one or two fairly outspoken emails to the project's management team who were insecure and relatively incompetent. They'd actually started to listen and change things though, so there was no purpose to the emails I sent, other than to try and elicit an email saying "don't bother coming back to work" so that I could spend some more time with my friends in San Francisco.

The pressure of having to try and cement the gains that I had made, while still carrying some of the burdens that had been accumulated, was too much. I was in no position to be the responsible guy, picking up the phone every time things went wrong and having to mop up messes. I was in no position to be paying 100% of my rent, with a lazy flatmate who shared none of the risk and none of the financial burden or responsibility for making sure the bills got paid and the household ran smoothly. I was in no position to face months and months more, working at the kind of breakneck pace that was inevitable on a project that I had been forced to take out of desperation.

I had done far too many 12 or 14 hour days. I was on email around the clock. I never switched off. I had driven myself insane, pressurising myself to fix all the broken things in my life, and shore up the gains that I had made. Insecurity and fear had given way to delusions of grandeur. I wanted to do everything, for everybody, immediately. I was very, very sick, because of the enormity of the task of not only the project, but the problems I was overcoming in my personal life. A breakdown was inevitable.

Managing things elegantly was unlikely to happen. I dropped hints about needing a holiday, but I needed to be firm, to assert myself. People expected me to manage my own personal needs, but what they didn't realise was that my needs were conflicted: I needed a financial safety cushion just as much as I needed some time off. When the offer of overtime was wafted under my nose, and the management team wouldn't stop phoning me up at weekends, they didn't have to twist my arm very hard to get me to work Saturdays, Sundays, nights. I needed the money, and I needed to feel like I was important and valued again, having only just escaped being an invisible homeless bum, tossed out of civilised society, never to return.

My experience as an IT contractor, my seniority as somebody who's run large teams, as a Development Manager, an IT Director, a CEO... I'm no fool. I knew that I was working at an unsustainable pace, making myself sick, but what choice did I have? I had so much to fix, and money and hard work can fix most problems. I knew that I needed a holiday, but I was vulnerable to being pressured into doing things that I would never do, under normal circumstances, due to the fragility of my situation.

My colleagues were kind enough to drop hints, and to tell me the tricks that they were employing to avoid management pressures and the general panic that was endemic on the project. They could see I was tired, and going slightly mad. They were worried, and it was kind of them to think of me, on a personal level. However, they didn't really know just how bad things were in my private life. They didn't know just what a journey I had been on. They didn't know what I was running away from.

When I snapped, I didn't know where to run for safety. I thought the safest place would be hospital. I was desperate. I could easily have run for drugged-up oblivion again, even though I was 5 months clean at that point, and one month sober. I could easily have run for the kitchen knife, and slit my wrists in the bath. I was desperate. So close to recovery, and yet so far.

I needed to chuck my freeloader flatmate out of my apartment. I needed to quit my contract and get something easier. I needed to not have the expectation, the weight of responsibility I had unnecessarily brought upon myself, in my desperate insecurity and desire to feel wanted, needed, useful, important, after my entire sense of self had been smashed to a pulp by the dehumanising experience of destitution.

Hospital was a safe place to do it.

Then, unable to grasp the nettle of what needed to be done, which could have been as simple as saying "I need another two weeks off work, to go on holiday, because I'm fucked", I decided to just run away. I booked a flight to San Francisco, leaving myself just a few hours to pack my bags and get to the airport. What was my plan? I had no idea. Even suicide seemed preferable to continuing to live with such crushing pressure, fear and hopeless odds stacked against me.

After a few days amongst friends, I decided that I wanted my contract terminated, immediately. I fired off a provocative email to the CIO. Jackpot! The guy who was responsible for us consultants emails me to say that he wants to see me... in Wimbledon, miles away from HSBC headquarters. I mail back to ask why, but he deftly avoids telling me my contract is terminated via email, despite me pressing him on the matter. Does nobody get the hint?

I come back to London, pissed off that nobody has had the guts to actually call me out to my face, or even by email, and that I've not been able to extend my stay in California. Out of spite, I decide to embarrass the consultancy and the management team, by going into HSBC HQ, blagging my way in even though my security pass has already been deactivated. I march up to the program director and ask him if he's happy with my work, is there a problem? In front of the whole team, he says he's happy with my work and there's no problem, he's pleased to have me back at work.

I milk a few hello-goodbyes with colleagues who I like and respect, while watching the people who want me gone squirm with discomfort. I'm loving every second of watching who's got integrity, humanity, and who's decided that I'm no longer flavour of the month. It's a masterclass in office politics, even though we're all contractors, all consultants. I'm committing every exquisite detail of my final minutes in the office to memory, as I deliberately waste time having my breakfast, before making my way to Wimbledon to wind up the poor messenger whose job it is to try and help the consultancy and the management team save face, by terminating my contract.

By this time, my access to email has been revoked, even though a colleague who accompanies me out of the building, pretends like everything is normal and like we're just having a friendly chat - as opposed to being escorted off the premises by a security guard. I know. Do they know I know? Surely they must.

Unable to send a goodbye email, I ask a colleague who is also called Nick Grant, but who works in Leeds, to send an email on my behalf to a mailing group that contains everybody on the project. It's naughty as hell, but I'm enjoying twisting the knife. What is it that I've really done wrong, other than getting sick and having to go to hospital? What is it that I said, other than what needed to be said, the truth? But I know the game. I know that nobody wants a loose cannon. Nobody wants anybody rocking the boat. I didn't play by the rules. Does anybody realise that this is my way of quitting with immediate effect, and without having to work my notice period?

It might seem like sour grapes. I needed that job. I liked my colleagues. I loved that social scene. That contract saved my life.

However, how do you reconcile your social life, your personal difficulties, your needs, with the role you've been forced into?

What's the difference between a contractor and a consultant? A contractor knows they're a mercenary. They're there to earn as much cash as quickly as they possibly can, and they accept that they can be terminated at the drop of a hat. A consultant just doesn't realise they're getting a bum deal. There's no such thing as an IT consultant. It's just a made-up thing now that software houses and long-term IT contractors have fallen out of favour, with the dreadful rise and rise of outsourcing and this stupid idea that software is ever going to be cheap and easy.

So, to the Winners. Thank you for saving my life. Thank you for putting up with my rocky start, my dreadful ego, my shouting. Thank you for putting up with my arrogance, and for laughing at my over-ambitious ideas. Thank you for trying to keep me humble, and remind me of the rules of the game. Thank you for taking me into your lovely social world. Thank you for the emotional support. Thank you for treating me like a human being, not a software robot. Thank you for dealing with the fallout that I inevitably caused, when implosion happened. Thank you for not hating me, as I wandered into the territory of delusions of grandeur and heroics, and self-important jumped-up craziness.

You might not realise this, but you saw a rather twisted, weird, screwed up version of me, as I clawed my way up a cliff face of recovery, from the bankrupt, homeless, junkie, friendless, single, lonely, unhappy, insane husk of a man that I was, in mid-June last year.

It's been quite a year. God knows what happened with the Customer Due Diligence project, but I'm glad the due diligence on me didn't work, because the Winners and HSBC ended up unwittingly saving my life and getting me back on my feet. I don't think I would have ever had that opportunity if my dark private life was known in advance.

I'm sorry if it feels like I used you. Hopefully, it feels like a good thing happened. Hopefully you feel happy to have played a role in bringing a person back from the brink, even if I was a sneaky bastard, and somewhat underhand about the whole thing, as well as going a bit bonkers at times.

Silver linings, eh?

The photos I've put up include some rather unflattering images of a rather battered and bruised body, that just about hung together with sticky tape to somehow carry me through some brutal times. My private life wasn't exactly 'healthy' leading up to last June.

Tags: #career #banking #hsbc #computing #london #suicide #addiction #homeless

This is a story about being price insensitive...

There is a desperation, a lack of ideas, a disillusionment with politics, the status quo, the instruments of government and civilised society, when people vote to bite the hand that feeds them.

However, we can't ignore the obvious message: people are pissed off.

Voting to leave the EU is clearly an own goal, an act of spite, made out of petulant frustration, a temper tantrum because people are not getting their own way. However, isn't the country supposed to be run for the benefit of the majority of the population? Doesn't this act of madness seem predictable, when clearly the powers that are supposed to represent the common person, actually represent the moneyed elite?

With no ability to vote a party into power who represent your interests, and with no ability to be able to influence policymaking to actually improve your day-to-day life, why wouldn't you seek to exercise whatever control you can, to express your distress, your unhappiness, your frustration?

We ask people to work longer hours, accept pay cuts in real terms, have less job security, no pension, no chance of buying their own home, no chance for their kids to go to University or better themselves... no hope. And for what? So that there can be another quarter of profit increase, just as the City analysts expect? So that some number on a spreadsheet can continue to grow... no matter how arbitrary.

80% of our economy is in the service sector, but over 60% of people are unhappy in their jobs, even though the working conditions look fantastic, compared with manual labour in a polluted industrial town, with its brick terraces caked in soot. Why on earth would people hanker after an era when we died younger, due to hard, physical work?

Well, those who run the economic engine of the country have completely misread the mood of the public. Highly remunerated professionals in London think nothing of spunking £6 for a pint of strong European beer and £30 going to a 'secret' cinema screening, where there's some gimmick like sitting in a hot tub on a rooftop.

There is a huge insular community of well-spoken, privately educated, fresh-faced young people, working in law, accountancy, management consultancy, finance, insurance, politics. These people are the entourage for a group of portly ruddy-faced men, who live in large houses in the London commuter belt. Between them, the lives of every single citizen of the United Kingdom are ruled, except they're completely clueless as to how ordinary people live.

Economists talk about how price insensitive people are. I literally don't care whether my coffee is £2.50 or £4.90. I just tap my contactless payment card, and walk out of the cafe with my hipster flat white. I literally don't care whether my lunch costs £5 or £10. I just go to whichever vendor I fancy on a particular day. I literally don't care that it costs more to travel on the Underground than on the bus. I just tap my card on the ticket barrier, and don't even look at my balance.

Everybody who decides how your daily life is improved, or worsened, is more concerned about where they're going skiing this year with their other young professional chums, than whether somebody on some shitty council estate can afford a box of fags.

Yes, Londoners think of themselves as cultured, urbane, sophisticated. Sadly, they also think they're somewhat in touch with the working classes, because they rub shoulders with people from all walks of life, as they travel into the city to clean toilets and wait tables. However, sharing the same streets does not equate to co-existence.

I used to live on a street in Islington, where the grand Georgian houses were worth many millions on pounds. One street away, there was a lot of social housing. You'd think that this is an example of an integrated society, but you'd be amazed at how people living in such close quarters are so successfully able to avoid each other.

While I used to dine in the restaurants of Upper Street, mixing with other City Boys, my fellow residents would head the other way, towards Hackney, where there were cheaper places to buy food, and the kinds of places I would never dream of entering: betting shops, pawnshops, low-quality takeaways.

Today is the starkest warning of where our society is headed: a two-tier system, where the 'haves' are living in a different world from the 'have nots'.

While those who wish to divide and rule have cleverly manipulated people's fears for political ends, this ignores the fact that the wealthy are busy stuffing the mattress with the working class' hard-earned cash.

When people realise they've been conned, there's going to be hell to pay.

Tags: #politics #europe #london #banking