Thursday, November 25, 2010

Sovereign Debt Crises

Well, we were warned about the money lenders, weren't we? Something in the Bible, and quite a few publications since. If you listen to the BBC you'd think these sovereign debt crises were a sudden turn of events and that some naughty countries borrowed too much and they now have to tighten their belts in order to pay back what they owe. Oh yes, and pensions and hospitals and schools and social services are too pricy to be maintained.

I'm sorry, I don't see it like that. Some of my friends laugh at my avid interest in reading blogs, but this is where some of the best minds in the business write, be it economic, political, ecological or other, and I've been following what they've been saying and warning about for years.

Goldman Sachs had a huge part to play in the downfall of Greece, similar amounts of collusion and bribery went into money-laundering and creating an economic boom-to-bust situation in Ireland, soon to be followed by Portugal, Spain, and maybe Italy. Ireland's economy went through the roof without it producing anything new. It is being sold to us as a simple parallel to an individual or family over-stretching themselves, but if you followed the sub-prime mortgage crisis in the US (the so-called 'foreclosure-gate') you'll have some idea of the depth and breadth of the corruption in the banking sector.

The UK also has severe financial problems, but bizarrely has been offered a secret bail-out by someone who presumably doesn't want to see Sterling fail. A very odd entry in Hansard (the official record of events in both Houses of Parliament) given by Baron James of Blackheath, speaks of the offer of a sum of money to be given to the Crown by a shadowy organisation that he called ' Foundation X'. You really couldn't make this stuff up! Have a look:,_Baron_James_of_Blackheath

(see 1538, although earlier part of speech is also interesting, about coming food crisis)

If you scroll down on the Wiki page , you will see the entry 'Foundation X', and then see that after his speech in the House of Lords, the meeting he spoke of was denied by the UK Treasury.

Still think this is all a cock-up, or is it a criminal conspiracy?

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