The Party Is Over For The Bankers…(And Everyone Else)
The Intel Hub
By Dr. Mark Sircus – Contributing Writer
July 17, 2011
The end of the banker’s reign is near and that is a really good thing. Up to this point, bankers have managed to turn humanity into pile of debt slaves.
Since the advent of paper money, bankers have tended to form an unholy alliance with elected governments to expand debt and both parties have prospered until now; the time has come when debt can no longer be repaid.
Darryl Robert Schoon writes, “The global economic collapse is perhaps humanity’s greatest hope for escaping the debt slavery the world’s financiers and bankers have planned for the world.
However, to escape slavery one must first know he is a slave.”
Debt is the slavery of the free.
Publius Syrus, 50 BC
“Now everybody understands that Greece needs to be helped to exit recession as soon as possible. The relevant negotiations are making progress, and I hope they are completed as soon as possible,” Greece’s Prime Minister George Papandreou said. Some people are very serious about their delusions and want us to believe in them too.
How is an economic backwater country like Greece going to be helped out of a recession when the rest of the world is on the verge of financial and economic calamity? And how is any person or country in debt helped by taking on more debt?
Don’t tell anyone but a massacre is going to occur in the banking industry, for haircuts are not what are in the offering but instead full-field scalping as countries default on their debts. It’s only a matter of time.
Sheldon Filger says, “policymakers have no real solutions, and have just about run out of gimmicks and short-term fixes. The global economic crisis that began with the financial collapse of 2008, far from being resolved or a clear path to recovery being underway, is entering a more dangerous phase, in which sovereign debt reaches the level of unsustainability.
The result could very well be paralyzing insolvency among the advanced economies, which could destroy the economic future of an entire generation.” Monty Pelerin writes, “The circus surrounding the debt ceiling makes interesting theater but all the babble is irrelevant. How the debt ceiling is eventually resolved only changes the timing and extent of the economic collapse.”