According to the International Monetary Fund’s latest report, practically every developed economy is in debt. So everyone is in debt to someone else which is exactly the way the financial wizards of this world want to keep it. After all, we give them the license to literally print money which they then lend to us for a fee. This amazing con job is known as fractional reserve banking and it’s (staggering) lack of regulation which is the root cause of the of the economic mess we are now in.
As a result of the ‘financial experts’ greed, incompetence, deception, herd mentality and the collusion of your Government, you are now in debt for around Eur 54,500. As less than half the population actually create ‘wealth’ as a result of their employment, they must shoulder the debt of those who do not. Let’s call it a round EUR100,000 if you are a PAYE taxpayer, and this money must be repaid over the next ten years, in addition to all your other debts. No, I am not making this up, these are the real figures. It is similar in Spain, Greece, Portugal, Belgium, the USA, Italy and another 30 or so other economies.
The amazing thing is that you got this loan although nobody told you that they would be borrowing and spending it on your behalf, with you picking up the tab! There were no forms to sign, no credit checks and definitely no personal ‘stress test’ on your ability to repay it. But repay it you will as long as you are domiciled here, for the purpose of taxation. And do you know who you are repaying this ‘loan’ to ? That’s right, the very same banks who lent the money to the gamblers and speculators that got us into this mess.
They should of course should have lost big time but they manipulated the ‘threat’ of a ‘financial collapse’ to scare you in to paying for their mistakes. The senior bankers who met with the Government actually lied about the extent of their banks problems (or were so incompetent that they didn’t actually know?). The net result is that the banking scam merchants are not allowed to lose as all the power resides with them and their friends in Government and the EU.
“The markets are up today…., Brent crude has hit a new high…, The S&P is testing resistance again…., interest rates rise by 25 basis points….” blah, blah, blah. You have been listening to this bull forever but what the hell has it to do with you and why is it constantly portrayed as news? It means feck all to the vast majority of people to whom the markets are supposed to serve. Basis points ? It’s where you divide one percent into one hundred pieces. So when interest rates go up by something like 25 basis points and you think, so what? Well, what it actually means that if your mortgage was at 4% the amount of interest you will now have to pay has actually increased by 6.25%. Doesn’t sound so insignificant now, does it? The reality is that the entire financial system, in all it’s impenetrably complex iterations and derivatives, is a scam of biblical proportions.
Think about the following statement, before calling me a nutter. You, and every member of your family, have been saddled with a massive personal debt, without your permission. The people to whom we collectively have entrusted the management of the financial system have managed, through their collective design or incompetence, to enslave you economically for decades to come and so causing untold hardship to you and your family and friends. These are the same people who insisted that a salary of half a million simply wouldn’t be adequate to attract the right talent. Right talent ? Give us a feck’in break. Bank of Ireland lost the equivalent of seventy MILLION euros every working day, for two whole years and they consider that talent?
If you went to work for BoI drunk as a lord and coked out of your head for two years, it would be hard to follow that. But manage it they did and you are going to pay for it. These are people who, nearly to a man, have kept their jobs along with their morally indefensible salaries.
The reason why they have gotten away with it (so far….) is because they continue to make you feel ignorant and impotent, that the machinations of the financial markets and how they work are beyond your comprehension. And that is the way they want to keep it. The fact is that you worked your ass off and the people that you entrusted to run the ‘markets’ have demonstrated their total incompetence or dare I say, collusion, in destroying our Country and at the same time amassed huge personal wealth.
You and your family will suffer, your children’s education, the health service, the Countries infrastructure and indeed our National pride have all been thrown aside because of these greedy, incompetent, selfish fools. Bankers, the Dept of Finance, the ECB, financiers and developers, all of them are morally, ethically and intellectually corrupt. Most banks sold off a huge amount of their properties at the very top of the market while encouraging you to borrow more money from them. Funny that. His Excellency, Mr Peter Sunderland (of Bilderberg Group fame, among others) said in 2007 that there was no reason why the boom shouldn’t continue for at least another five years. Another one of the ‘experts’?
Maybe next time I’ll explain who actually owns the debt that you are being made to pay and how if we stick together we can make the real gamblers suffer the very real consequences of their actions. One thing is for certain, if they think that they can continue to fool us they are in for a serious awakening, sooner rather than later.