IMF Calls For A New Round Of Huge Bank Bailouts
Reports Business Insider.
The Banks were involved in a fraudulent derivatives market valued at $700 Trillion. To hide those losses they caused the crisis. The crisis is not a recession or part of a business cycle it is a systemic collapse caused by government policies. The IMF is simply a cover for the derivatives selling banks.
The $700 Trillion hole will never be filled - regardless of bailouts or quantative easing or austerity or any other mechanism that is used to transfer money from the people to finance.
The banks must be brought down as soon as possible before they bring us all down.
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7 comments:
Your link isn't working Alex.
http://www.businessinsider.com/imf-huge-new-round-of-bank-bailouts-2010-10
I expect that there will be another call for funds from the banks, in the US and here and another roll of the printing presses to make it happen.
I suspect that the real hole in the banks finances has not been revealed and is way, way, worse than even the worst case scenario.
The derivatives and swaps still are not enumerated and something is going to have to give, big time.
I will do a toxic Meg here
Already stated, ore money to the banks, supposedly to tidy up. The Irish bank debt tells a reference story.
We are now in a second slump, double dip, and the printing presses will be working overtime. This will be the excuse to give the money to the banks, to liquidise the economy.
Greece is irrecoverably gone and the Euro Central Banks knows. They are playing for political time.
The Euro will fragment, north and south. Alternatively the Germans need to leave and let their currency appreciate.
Spain and Portugal will join Greece in the abyss.
France will be up shit creek and the Germans may abandon them.
The UK will stagger on with a very devalued £
The Grim Reaper cometh.
Thanks CH,
Got it going now!
@Bugger,
Well put!
I've got a Newsnet piece coming out later today - "Labour's Bankrupt Britain". Perhaps you might like to share your predictions there..
Alex
I will cut and paste
I have a Pinot Noir piece out during the night or tomorrow morning.
Excellent Bugger! Look forward to it. Need to get me head round wine. What about the history? I know a lot of highlanders used to talk about how they were drinking wine while the lowlanders drank beer and yet we had the cheek to call them savages..
Is there an 'auld alliance' story in there somwhere?
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