"banks control the world ! Not governments " BBC interview with a trader

[Keith Rich]

But when they are asked to pay their fair share of tax they always threaten to move abroad. Good riddance to them, lets call their bluff and see if they all bugger off somewhere else.

 

I would pay their fare to get rid of them.

 

We don't need selfish and greedy people who believe that money is the be all and end all of everything.

[Stan Tamudo]

They pay plenty of tax, put it this way, they pay for your beloved public sector.

 

Give us a link Big Time?

[chem1st]

A lot of what he said was true.

 

And people's currency savings are being destroyed as we speak, bubbles are being deflated, and currency deavlued. By the inflation.

 

If you are sensible you will have removed all your currency from the bank and converted it into wealth or capital. The government will not allow deflation. If they smell deflation, the money printer is turned on. Further QE is round the corner and it's all going to end in tears.

 

If you don't get your currency converted first, your screwed. The bank hasn't got your "money"(currency), it has only enough to cover a few % of what it says it has. You will not be allowed to withdraw your currency. By the time you can access it, it'll have been destroyed by the inflation.

 

Pensioners are going to be the hardest hit. The sad thing is, this robbery was avoidable.

 

After their currency savings have been destroyed we need to make sure we provide them a basic income.

 

http://livingeconomiesforum.org/the-difference-between-money-and-wealth

 

A real-world example of this insanity is the 1997 Asian financial crisis, in which a so-called "financial miracle" became a meltdown. That meltdown began in Thailand and spread through Malaysia, Indonesia, South Korea, and Hong Kong, as economies fell like dominoes. While specifics differed, the experience of Thailand reveals the underlying pattern.

 

During the "economic miracle" phase, large inflows of foreign money fueled rapidly growing financial bubbles in stock and real estate prices. (When too much money chases too few assets, those assets artificially "inflate" in price.) Those inflated bubbles attracted still more money, much of it from international banks eager to make loans to speculators, who secured loans with the inflated assets. As foreign currency poured in, consumers had the wherewithal to purchase imported goods, sales of which skyrocketed--creating the illusion of a booming economy.

 

Buying rapidly appreciating stocks or real estate seemed, for a time, a better deal than making productive investments in industry or agriculture. Ironically, the f aster foreign inv vestment flowed in, the more investments were sucked away from industry and agriculture and production stagnated or declined in both. Foreign financial obligations thus rose, while the capacity to repay those obligations fell. Once the speculators realized this was not sustainable, the meltdown began. Speculators pulled money out in anticipation of a crash, stock and real estate prices plummeted, and banks were left with uncollectable loans--creating a liquidity crisis.

 

Capitalism can thus create an illusion of prosperity, even as it sets the stage for economic collapse. Lest we think this a rare example, we might note that since 1980, according to a McKinsey study, the financial assets of the world's largest economies have been growing attwo to three times the rate of growth in gross domestic product (GDP). Bubbles are everywhere.

 

And it is in the nature of bubbles to pop because trading away life for money is not, in the long run, sustainable. Here's hoping we learn this lesson more gently than Asian economies have, but learn it we will. Squandering real wealth in the pursuit of numbers is ignorance of the worst kind. The potentially fatal kind.

 

When the bubble pops and we enter recession, money (currency) can be made, but it is made at the expense of others, and that currency must be converted into wealth or capital.

 

Wealth on the other hand, can be created without adversely affecting another.

[Big time]

Give us a link Big Time?

 

You need a link for confirmation that the banking and financial sector props up the UK economy and pays for things like the public sector??

 

Anyway, here's a link for you http://ybandb.files.wordpress.com/2011/04/shoulder-cookie.jpg

[Stan Tamudo]

Anyway, here's a link for you http://ybandb.files.wordpress.com/2011/04/shoulder-cookie.jpg

 

Uncorrectamundo.

[Stan Tamudo]

You need a link for confirmation that the banking and financial sector props up the UK economy and pays for things like the public sector??

 

Correctamundo.

[Peas Maker]

Hi

 

Most know that already

 

there are now approx 20 ppl in the world who are worht more than half the countires in the world, fact

 

If that was true would it also be right to suggest these people / group / families had more power and influence than say a priminister on 100k a year?

[garrence]

He's on the money with pretty much everything he says. A truthful message but not one the public want to hear.

 

Not convinced that he's right about where the economy will be in 12 months, though.

[Peas Maker]

He's on the money with pretty much everything he says. A truthful message but not one the public want to hear.

 

Not convinced that he's right about where the economy will be in 12 months, though.

 

Double dip I bet !