| Here is the fundamental fact: there are trillions of euros of debt which can never be paid back. In a non-feudal system, one in which the banks were not the Masters, then this fact would be recognized and acted upon: something like 50% of the debt would be written off in one fell swoop, all the banks whose assets had just been wiped out would be declared insolvent and liquidated, the remaining debt would be sized to the economic surplus of each debtor nation, and a new, decentralized banking sector of dozens of strictly limited, smaller banks would be established.
To the degree that is "impossible," Europe is nothing but a Neo-Feudal Kleptocracy serving its Banker Lords. The Greek worker whose pay has been slashed in the "austerity" demanded by the banks serves the Banker Lords, as does the German worker who will be paying higher taxes to bail out Germany and France's Banker Lords. |
Read the rest of the story HERE:
At charleshughsmith.blogspot.com
At charleshughsmith.blogspot.com
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