Forty centuries is a history of market rigging. As its title suggests, governments try their hand at this ruse on a pretty regular basis – and it never ultimately works.
Perhaps the most instructive historical example is that of the Edict of Diocletian. Shortly after this Roman Emperor ascended to the throne in AD 284, commodity prices and wages took off. The reasons for this inflation are attributed to, variously, a vast increase in his armed forces to repel barbarian hordes; a huge government building programme; an expansion in taxes and government officialdom; and the use of forced labour in his public works. Diocletian himself, in time-honoured manner, blamed the "avarice" of merchants and speculators instead.
by Evil Knievil| Evil Diaries| 1 mins. to read Provident Financial Group (LON:PFG) duly collapsed this morning and it is hard to see why or how it will be revived. The fact is that the climate for debt recovery has turned extremely sour.
by Nick Sudbury| 2 mins. to read Everyone understands what wind turbines are – and everyone knows what solar panels do (though few of us know exactly how photovoltaic cells convert sunlight into electricity). Biofuels, however, remain the Cinderella of the renewables sector.
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