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Tuesday, 23 November 2010

The Loophole Exploited

Those who have lent excessively, to the point of apparent foolhardiness, can only have done so because they knew, however it turned-out, their bad investments were ultimately indemnified and so protected.



But that was not the game. Not concerned with making bad investments that cause financial collapse and just getting their money back, instead the aim has been to ramp-up such debt and then lend the selfsame sums again required to fund the bailouts themselves. So in doing they create enormous and indefinite national debts held by the bailout nations that can afford to pay and pay such interest as demanded. The people of the EU become tax-slaves to the international bankers.


The loophole exploited is the promise that sovereign states will act as lenders of last resort and behind them the resolve of the member-states of the EU to rally behind the EURO.



This is a win-win; for the bankers, who funded these debts and subsequently will lend the bailouts too, and for the EU/EURO which can only be improbably left to a horrific death or become politically fully incarnated as a result.

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