4th Nov '10


Real Name: Greg Pytel

Occupation: Blogger

Interests: Economics, Gold, Interest Rates, Stocks

About Me:

Greg Pytel is a quantitative risk expert & international business development consultant. He has extensive international experience advising governments and companies within the area of hydrocarbons exploration and international telecommunication licensing. He started his career with Shell Exploration in 1990 and continued with Petroleum Geo-Services in Norway. From 2000 he has been involved with private consulting practice that also covered fraud risk assessment and investigations.


"The greatest shortcoming of the human race is our inability to understand the exponential function." (Professor Albert Bartlett) My blog - Financial Crisis? It's a Pyramid, Stupid! - demonstrates that:  The financial system was turned into a pyramid scheme in a technical, legal sense (not just proverbial);  the current crisis was easily predictable (without any benefit of hindsight) by any competent financier, i.e. with rudimentary knowledge of mathematics, hence avoidable.  It is up to the readers to draw their own conclusions, e.g. that this crisis is a result of a conspiracy to defraud taxpayers or massive negligence, or both. Or it was just a misfortune.

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Greg Pytel's Latest Blogs

Governments of countries affected by the financial crisis are preoccupied with designing a set of regulations that would prevent the future banking crisis (called liquidity shortage or credit crunch) from happening. The actions are taken on the local level, introducing new regulations, and international level, e.g. Basel III. At the same time nothing is done to break up banks so they are not "too big…

A single currency is not simply about having the same notes and coins in circulation. A key part of a single currency is having the same interest rate on all sovereign debt, in the same way as there is a single central bank's interest rate. At present, there is no more single sovereign debt interest rate in Euro-zone: for example, German debt attracts much lower…

The ongoing financial farce in Ireland shows with crystal clarity why Britain was "persuaded" by the, so-called, "financial markets", pundits and all sorts of experts to cut the public spending. If British kept on spending as much as they used to it would not have enough money to rescue Ireland. The UK would have been on the financial edge itself. According to the Bank of…

Every now and then we read or listen in the mainstream media that Chinese companies are overpaying for assets. Or that they are undercharging for contracts - like building infrastructure - they entering into in many parts of the world . Every so often we hear the same arguments from the western companies that lost in competition to their Chinese counterparts. Quite often the companies…

This week announced spending cuts on defence in the UK indicate the scale of the current financial crisis. Even, as a result of the previous Labour regime brought about economic disaster, at the end of 1970's the UK did not have to cut its forces that deep. In 1982 it was still able to mount a successful Falklands campaign. In the height of Conservative induced…

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