Mish's Global Economic Trend Analysis |
- UKIP's Godfrey Bloom Blasts Fractional Reserve Lending as Fraud; Says Central Bankers Should be Tried for Financial Crimes
- When All Else Fails, Blame Your Staff, Not Yourself
- Reader Comments on "Are We Spending Enough on Education?"
Posted: 07 May 2013 01:08 PM PDT Here are a pair of interesting You-Tube videos on fractional reserve lending sent by reader Magnus who lives in Sweden. Godfrey Bloom Blasts Fractional Reserve Lending as Fraud "The problem that we have is a flawed banking system, a fractional reserve banking system where bankers can lend money they don't have. If you go back in time in the United States to the 1850s, that was a capital offense. You could hang for that." Link if video does not play: Money-Printing Scam - Godfrey Bloom MEP Central Bankers Should be Tried for Financial Crimes Godfrey Bloom on Cyprus: "In the great Cypriot bank heist, of course the big boys got their money out early, didn't they? It's always the little people who get shafted, isn't it? We now have a sick system, a situation, which the previous speaker alluded to quite rightly where the Fed, the Bank of England, the ECB, the Bank of Japan, all completely bankrupt, holding mountains of junk bonds bought with counterfeit money. Let's all blame the retail banks but it's the central banks where the cancer starts. Politicians, bankers, and lackey bureaucrats should be arraigned in an international financial tribunal, in the Hague, in the same way as war criminals." The end is rather humorous, please play it. Link if video does not play: Central bankers and lackey bureaucrats should be tried for financial crimes Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com |
When All Else Fails, Blame Your Staff, Not Yourself Posted: 07 May 2013 10:18 AM PDT President François Hollande's popularity has sunk to a new low of 24%. Rather than blame his own policies for the huge rise in unemployment and the lack of competitiveness in France, Hollande pins hopes of fresh start on cabinet reshuffle. In an interview with the French magazine Paris Match published on Wednesday, Mr Hollande warned that none of his ministers were indispensable and that all would be judged on their results.Judging by Results Hollande wants to judge his appointees by their results. How about the big point? Hollande should point a finger at himself. And just look at the socialist clowns complaining about lengthening of the retirement ages and cuts in untenable pension benefits. Supposedly more taxes is the answer, but that has the wealthy fleeing the country. More importantly, French businesses are already burdened with inane work rules that make it nearly impossible to fire anyone. France Unemployment Rate Are Hollande's ministers responsible for the appearance of the above chart or is Hollande's socialist agenda? Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com |
Reader Comments on "Are We Spending Enough on Education?" Posted: 07 May 2013 01:59 AM PDT Reader Michael from Northglen, Colorado chimed in on my article Is the US Spending Enough on Education? Michael writes .... Hello MishWhere did the money go? Clearly, it's all "for the children", as it always is. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com |
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