REF: "TRILLION DOLLAR MADNESS" by Robert Wenzel www.Lew rockwell.com
Sixteen European nations (plus the Federal Reserve & IMF) have issued a statement to offer as much as 750 billion Euros to countries facing financial difficulties, plus the European Central Bank will buy government and private debt.
In other words, relax, deficit spend to your hearts content, Daddy will
bail you out. Nothing will satisfy these money creators other than the total
ruination of the world's (West) currency system. They are so taken with the idea of nothing backed currency, the sky is the limit and prudency, earning and saving are out the window.
"That no objection to this madness has come from any finance minister or central banker signals how far down the road we are from any real concern about inflation or the taking away from the productive sectors of the economy. Indeed some of the the statements coming out of the emergency meeting of EU finance ministers are simply absurd."
With the exception of perhaps Germany, all of the lending participants are broke and dependent on created monopoly money to exist day to day.
Doesn't this remind you of " No child left behind". You may raise one child, but sink the rest! Diluting currency by creating more of it is inflation, which begets more inflation, which begets wheelbarrows of currency to buy a loaf of bread.
Irresponsibility is seemly rewarded today. Or is this just another bankers con game to use sovereign money to cover banks losses? The money changers are at it again.
With Love and Kindness,
THE HATMAN
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