Quote:
Originally Posted by treasurekidd
WRONG. The real source of all of these problems is govenments that have overspent for decades and are now find themselves on the brink of default because their tax revenues have dropped significantly during this recession when unemployment levels surged, people cut back on spending, and social safety net program costs all soared at the same time, forcing them to borrow huge sums of money to keep funding the enitire mess. Banks are only in trouble because of the fact that they are major holders of the bonds issued by these insolvent governements, and if the governments default, the banks lose billions on the bad debt. Banks are not the cause of the problem, merely a symptom of decades of massive government deficit spending. GET IT??
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I don't think it's quite that simple. The banks own and operate the governments for the most part, not the other way around.
The money system is one of many tools used by the global elite to create panics and crises. It works like this:
1. Problem: Insane lending practices lead to people defaulting on their debts, creating a financial crisis.
2. Reaction: The public wants something done so the economy doesn't collapse. The governmnent goes i debt to bail out the banks and dishes out various financial benefits to citizens, going heavily in debt in the process.
3. Solution: The system eventually collapses (or comes close)...so the banks propose even more centralization (one world currency)...This is the solution they've wanted all along. The "solution" always centralizes more power and control in the hands of an elite few.
In Europe, there's a very good chance the EU authorities will push for an intermediate step of centralizing fiscal policies of all EU members. They will say that this is needed to prevent countries like Italy or Greece from taking on too much debt in the future. These are the same people who pushed for irresponsible countries like Greece & Italy to be admitted to the EU in the first place