21–30 of 240 posts
Banks have enough cash to cover 20% of their obligations. I think that is not that bad.
In France, banks systematically do all their possible to block customers to access the money from their life insurance contracts.
There is as much fraud in bank industry in Europa as there is in food industry in USA.
Euro is nothing but a https://en.wikipedia.org/wiki/Confidence_trick
Euro is nothing but a https://en.wikipedia.org/wiki/Confidence_trick
The whole western bank system is a confidence trick. Never head off fractional-reserve ? https://en.wikipedia.org/wiki/Fractional-reserve_banking
Would recommend watching the 4 minute introduction on the Positive Money homepage for a quick overview of the current situation with money creation:
The Euro just seems like a complete failure. Giant economies are limping along with 20% unemployment, unable to recover 8 years after the recession. In contrast the US has managed an OK recovery, now closing in on full employment.
The problem is that each EU national leader is accountable only to voters in their own country. When countries have opposite interests there’s no good way for resolving the disagreement.
The only way it could work would be if Europe-wide economic policy were made by the European Parliament so that taxation and bank regulation would be made coherently across the continent by accountable representatives. But voters, probably correctly, want to maintain national control. But that makes the shared currency a noose.
Earlier quoted context omitted.
The whole western bank system is a confidence trick. Never head off fractional-reserve ? https://en.wikipedia.org/wiki/Fractional-reserve_banking
It's worse than just fractional reserve banking. The vast majority of the money supply is based off debt. Would recommend watching the 4 minute introduction on the Positive Money homepage for a quick overview of the current situation with money creation: http://positivemoney.org/
Where does the money for all those people would come from if not from borrowing (money from the future)?
America - Gone
EU - Gone
Canada - Gone
New Zealand - Gone
Australia - nearly gone - Turnbull was head of Goldman Sachs in Australia.
All thanks to Goldman Sachs etc
http://cecaust.com.au/releases/2014_03_20_Treasury_Bail_In.h...
http://cecaust.com.au/releases/2015_11_27_G20_Accepts_Bailin...
It’s easy for Merkel to insist that Italy has to strictly follow EU rules since she doesn’t have to win an Italian election. The Euro just seems like a complete failure. Giant economies are limping along with 20% unemployment, unable to recover 8 years after the recession. In contrast the US has managed an OK recovery, now closing in on full employment. The problem is that each EU national leader is accountable only…
The Economist has often badmouthed Italy. The title is way too sensationalist. The comment section also highlights this ethnic bias. I will never forget their insulting cover from years ago: http://static.fanpage.it/socialmediafanpage/wp-content/uploa... . Just clickbaits and provocations.
There's just been three digs at Berlusconi on the NA cover (plus another on the EU cover that wasn't on the NA cover that I'm aware of)--one of which was nothing more than an addition on the bill of bailouts of Eastern Europe saying "Silvio to go (if only)". In 1998 alone, there are 5 digs at Clinton over the Monica Lewinsky scandal. Three in 2000 at Bush, and several more over the course of the presidency (to be fai…
I think this is more of a general British attitude than The Economist in particular. You see a lot of the same kind of stuff from the BBC. Arrogant, anglo-centric, looking down the nose at anyone foreign.
The Economist has often badmouthed Italy. The title is way too sensationalist. The comment section also highlights this ethnic bias. I will never forget their insulting cover from years ago: http://static.fanpage.it/socialmediafanpage/wp-content/uploa... . Just clickbaits and provocations.
I really do not have context about Italy and Economist, but this issue has been predicted and talked about by others. Here is one of them. https://geopoliticalfutures.com/italy-and-systemic-failure/
More surprising was that Germany decided not to accept these EU regulations for pension funds, which makes some wonder why the Dutch did accept.
Most surprising of all was that all parties in the government promised during last elections that Dutch pension funds would stay under Dutch control. And almost all opposition parties shared the same view. I.e. almost all broke their election promises, which makes no sense at all, unless EU priorities are regarded as more important than Dutch priorities.
Earlier quoted context omitted.
It's worse than just fractional reserve banking. The vast majority of the money supply is based off debt. Would recommend watching the 4 minute introduction on the Positive Money homepage for a quick overview of the current situation with money creation: http://positivemoney.org/
The world's population in the 1900 was 1,5B people. By 1970, it was twice that. By the year 2000, it was twice that again! And by 2050 it will be 9B. Where does the money for all those people would come from if not from borrowing (money from the future)?
If you want to look into it more, I'd suggest taking a look at debt-free money.
https://en.m.wikipedia.org/wiki/Monetary_reform
http://positivemoney.org/2011/10/debt-free-money/
http://positivemoney.org/2016/03/debt-free-money-brief-reply...