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from Drudge report

Posted on | October 7, 2011 | 1 Comment

 

FINANCIAL CRISIS ‘WORST WORLD HAS EVER FACED’

Category: Uncategorized

Comments

One Response to “from Drudge report”

  1. Birdy
    October 8th, 2011 @ 8:54 am

    From the Telegraph article – “Financial experts said the committee’s actions would be a “Titanic” disaster for pensioners, savers and workers approaching retirement. Sir Mervyn suggested that was a price worth paying to save the economy from recession.”

    Could these continuous calls of “crisis” be just a ploy provide an excuse to devalue the currencies around the world? When a central bank, like the US Federal Reserve, does Quantitative Easing (QE), it takes value away from the money people have saved and transfers the value to people who owe money by reducing the value of their debt. Those who work hard and pinch their pennies to save are penalized. Those who goof off and spend beyond their means on credit are rewarded. This is outright theft by central banks and their political masters.

    Is it really necessary to save the world economy, or is this a fabricated crisis? Take Greece for example. Greece has a lot of government employees. They have been receiving income and benefits far beyond what their skills and contribution to society dictate. They’ve done this by borrowing money. Now they are so far in debt, they can’t borrow any more and still cover their debt service and excessive salary and benefits. By all rights, they should reduce their income and benefits substantially and start to pay down their debt. They refuse to do this even to the point of rioting in the streets. They and other parasites around the world who live off of government borrowing are the people causing the crisis. Their solution is to steal from the productive people who work hard and live within their means (raising taxes, quantitative easing, bailouts, etc.). This is outrageous.

    The borrowers must reduce their standard of living, stop borrowing, and repay their debts.

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