STATE LEGISLATURES IGNORING WHAT WHOLE WORLD CAN SEE

Monday, October 10, 2011
By Paul Martin

By: Devvy
October 10, 2011
NewsWithViews.com

“Paper is poverty,… it is only the ghost of money, and not money itself.” –Thomas Jefferson to Edward Carrington, 1788. ME 7:36

On October, 6, 2011, Sir Mervyn King, Governor of the Bank of England, said during a speech following the latest decision by that bank’s Monetary Policy Committee to “put £75 billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK recession”: “This is the most serious financial crisis we’ve seen, at least since the 1930s, if not ever. We’re having to deal with very unusual circumstances, but to act calmly to this and to do the right thing.”

Desperate is an understatement.

In her September 2011 Policy & Markets forecast, Dr. Pippa Malmgren, writes:

“News to expect in the coming days and weeks:

• Greece defaults
• Germany protects German banks but other countries cannot do the same thus quickly provoking multiple sovereign defaults and or bank failures, all of which may easily lead to a payments crisis in the global banking system. Derivatives are particularly at risk in terms of operation and execution
• The Euro falls in value especially against the US dollar
• The Germans announce they are re-introducing the Deutschmark. • They have already ordered the new currency and asked that the printers hurry up
• The Euro falls even more on any news that Germany is withdrawing from the Euro
• Legal wrangling begins as to the legality of Germany’s decision. Resolution takes years
• Germany insists that the Euro continues to exist even they do not use it any longer. They emphasize that European unification will continue and suggest new legal instruments to strengthen European Unification including new EU Treaties

The Rest…HERE

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