You call this an Insolvency Crisis?? My A$$!!
More and more people are calling this whole Credit Crunch Charade an insolvency crisis.
The latest example is this article by the American Dream’s Michael Snyder.
Here’s how he puts it:
“Well, the truth is that this is not a liquidity crisis. If it was, the central banks could flood the system with money and solve the problem.
No, what Europe is facing is an insolvency crisis. There is way, way too much debt in the system and it is inevitable that an “adjustment” is going to happen.”
In the first place, all the major banks own each other. They also control or outright own the Central Banks. Even BIS is a private corporation.
It’s just one massive monopoly.
So we ask: if my right hand owes to my left and he can’t pay up, do I go to my neighbor to bailout my right hand? Or do I, as the owner of both, just cross off this debt?
Huh? Get it?
Secondly: the problem is not debt, it’s Interest.
All these banks create all the credit through fractional reserve banking. Most of the money out there was created the moment a loan was taken out. This is an almost zero cost operation. If you don’t build massive palaces all over the place, anyway, and pay your people twice what normal employees earn, let alone what you fork over to your vampire ‘traders’ and ‘investment bankers’.
If we call an interest moratorium, the depression would be over tomorrow.
Nothing to conclude. This is just one massive charade, aimed at causing depression while raping us for untold trillions in the process. The only thing that makes it hard to see is the sheer scale of the whole thing.
The bigger the lie, the easier to sell.
The sooner we wake up to the blatantly obvious, the sooner we can put all these bozos to rest.