Users Online Now:
Donate To GLP
Back to Forum
Back to Thread
REPLY TO THREAD
THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Ms Sans Serif
In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:RoXY:MV8xNTc4NDI2XzI4MzM4MjEyX0NGRDY3NTVB] [b]Bankers have seized Europe: Goldman Sachs Has Taken Over[/b] by Paul Craig Roberts 26-11-2011 On November 25, two days after a failed German government bond auction in which Germany was unable to sell 35% of its offerings of 10-year bonds, the German finance minister, Wolfgang Schaeuble said that Germany might retreat from its demands that the private banks that hold the troubled sovereign debt from Greece, Italy, and Spain must accept part of the cost of their bailout by writing off some of the debt. The private banks want to avoid any losses either by forcing the Greek, Italian, and Spanish governments to make good on the bonds by imposing extreme austerity on their citizens, or by having the European Central Bank print euros with which to buy the sovereign debt from the private banks. Printing money to make good on debt is contrary to the ECBís charter and especially frightens Germans, because of the Weimar experience with hyperinflation. Obviously, the German government got the message from the orchestrated failed bond auction. As I wrote at the time, there is no reason for Germany, with its relatively low debt to GDP ratio compared to the troubled countries, not to be able to sell its bonds. If Germanyís creditworthiness is in doubt, how can Germany be expected to bail out other countries? Evidence that Germanyís failed bond auction was orchestrated is provided by troubled Italyís successful bond auction two days later. Strange, isnít it. Italy, the largest EU country that requires a bailout of its debt, can still sell its bonds, but Germany, which requires no bailout and which is expected to bear a disproportionate cost of Italyís, Greeceís and Spainís bailout, could not sell its bonds. In my opinion, the failed German bond auction was orchestrated by the US Treasury, by the European Central Bank and EU authorities, and by the private banks that own the troubled sovereign debt. [b]CONTINUE AT: http://globalresearch.ca/index.php?context=va&aid=27872[/b] [/quote]
Economic Armageddon and You
Wondering about the American economy? This animated video explains inflation, stagflation, recession and more, all in 5 minutes.
NB: UPDATES AT LAST PAGE
Pictures (click to insert)
Big Round Smilies
Aliens and Space
Friendship & Love
Misc Small Smilies
View All Categories
Next Page >>
Disclaimer / Copyright Info
with questions or comments about this site.
"Godlike Productions" & "GLP" are registered trademarks of Zero Point Ltd. Godlike™
Website Design Copyright © 1999 - 2017 Godlikeproductions.com
Page generated in 0.009s (12 queries)