Once again today, the elites are throwing portions of their monies into the market, buying up stocks, hoping that some fools will be tempted to jump
The elites will lose nothing, afterall, in this casino, they are the 'house'. When the gamblers start to play a neat level, the rug will be pulled
with sell orders. Money gained.
It was not for nothing that Merkal insisted on private funds be asked to help shore up the banks. What better way than daylight robbery upon the stock
exchange casino - using others funds, a principle they found for their success?
The European govs know what they have to do, and that is to let the banks collapse. They are too big to be saved without immense suffering from
1. Audit the banks and those whom are insolvent, declare bankruptcy. Let the depositers sue the bankers, seek for legal liquidation of assets. This is
the capitalist way, and banks are capitalist entities, not and never was charity foundations.
2. Govs - representatives of the sovereign people, are not responsible for the success or failures of capitalist enterprises. They can only create the
environment and oversight for a level playing field, checks and balances if nothing is hidden, but in the end, the enterprises are solely responsible
3. Pensioners or pension fund holders will have to undertake class action suits against their own pension fund operators, sue them even to the pants
that they are wearing. The operators are responsible for gain, AS WELL AS losses, NOT the sovereign people.
4. Legal liquidators will have to use international court legal systems to verify, account and go about assessing and obtaining overseas debts
recollection, from those defaulting nations. It will take a long time, and hopefully, in that period, those nations whom no longer face crippling debt
payments, would have survived on their own GDP and may even had sustain growth, and would be in a position to fairly repay its debts, some if not
totally, for it was their greedy leaders and cronies whom had squandered the loans, not the citizens. Those leaders will have to face justice.
5. Depositors whom had lost their savings by insolvent banks, will have to wait just like every biz case for the restitutions of their funds. They
deposited their funds or investments to banks, not to the gov, thus no way the Sovereign People is responsible to refund such monies to them.
What can be done is instead, out of charity and goodwill for fellow citizens, social welfare be doled out in small portion to those needy and may the
depositors appreciate such kind hearted gestures. This is far better than to print money out of thin air to balance the erraneous banks which
ultimately will fall again.
6. Remain banks will most likely dare not lend anymore, leading to a slowdown in the economy. The govs will then have to print more money, devalue the
dollar, and use it for infrastructure spending to stimulate and circulate wealth. Greedy lending speculators will rise, offering loans but at
unconscionable rates such as 80 -150% annually.
In the past, usury was punishable by death. Fortunately, we live in far more advanced and civilised times. Laws must be legislated to ensure that
usury does not exist in these times and that max fines will be imposed if usurious lenders are discovered with their often cunning lending methods
To summarize - the Sovereign People are not responsible for the success or failures of banks, thus should not be punished or made to pay for their
edit on 10-10-2011 by SeekerofTruth101 because: (no reason given)