EU Bank Scam Explained

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The video below from David McWilliams explains brilliantly how the EU has gotten itself into the position it finds itself and where we are heading. The main points are as follows:

Because a Greek default would have bankrupted European banks the ECB used LTRO to pump money into Banks

Banks (via cash for trash) borrowed at 1% and bought sovereign debt at 6% (making 5% profit)

Germany will gets eurozone in its own image minus Greece(when its dumped out)

Banks continue on until another country breaks down under pressure and crisis starts all over again.





Oil To Go Higher As $10 Trillion Printed In 2 Years

Comments Off on Oil To Go Higher As $10 Trillion Printed In 2 Years

When you see the chart below its not hard to see why oil, gold and food prices are going forever higher. $10 trillion expansion (20%) increase in money supply in two years. I wouldn’t mind but I have seen any of it. My wages haven’t increased 20%, have yours? 😉 Funny how the inflation figures don’t reflect this. This begs the question, how accurate are the inflation calculations? Ireland’s Central Statistics Office just changed the way they calculated inflation this week. 

The sad thing is the global economy has gotten worse and not better. Its obviously not just helicopter Ben who is in on the act but also BOE and ECB’s LTRO. Unfortunately we have only one solution currently i.e. CTRL+P.

Source: ZeroHedge

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