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Monday, December 5, 2011

Europe Soverign Debt---Revolution Watch

This was a poster the English government was going to post all over England if it became apparent the Nazis were going to invade their home land. It never was put up because the English decide to put up a good fight---which in turn brought in the Yankees and the rest is history.

Interestingly, some one has brought the poster back out thinking it might be useful during the coming revolution/economic upheaval.

It seems England, along with many countries in Europe have gotten themselves in a bit of a pickle and the banksters/economic terrorists think that the only way to solve the problem is for a big dose of austerity (higher taxes and service cuts, pay cuts). This would be done so the banksters/bondholders could get their money back even though it would appear that they, that would be the banksters, have loaned massive funds to both individuals and countries, that had absolutely no way to pay it back. Never did and never will.

It seems odd that they are trying to put all the blame on the average Joe and make him pay even though the banks were particularly stupid and one might say profoundly greedy, in making the loans. Who is at fault. It would seem that banks I have known would never have dished out monies unless they knew for damn certain I intended and could pay it back. Not these guys.

What they did is loan the money out and then not wanting to sit on the large privately-known risk, sold the paper, that would be bogus AAA loans, to unsuspecting buyers--pensions, IRAs, countries, blah, blah, blah. Actually they sold other absurd "products" as well--derivatives, credit default swaps, who knows.

In the last couple years it has become real obvious the loans are not really of much value, so the banksters are now trying to get it back so they might maintain their lifestyle--oops! ( it is really uglier that that but I like this part of it)

Oddly, England and most of Europe doesn't manufacture much (rather like us) any more, oil is declining and the biggest earner, banking, is also going down the tubes. So it looks like many of these countries will become almost third world. Thus, the sign to the public. I don't think it will do much good. Will there be blood? Sign is red.

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