Saturday 2 June 2012

THE END OF THE BANKERS' PONZI SCHEME?

         Predictions for the global economy and banking system grow more dismal by the day. One financial commentator, Business Insider, puts it thus; “The problem is not Government Debt per se. The real problem is that the $70trillion in G10 debt is collateral for $700 trillion in derivatives--- Yes, that equates to 1200% of global GDP and it rests on very, very weak foundations.”


       Here in Europe the financial Mafia and their action men, the national governments, waffle with all sorts of ideological theories, from bleak brutal austerity, to austerity with grow, but nothing is actually being done, meetings and discussions keep them busy, sort of fiddling while Rome burns. Of course we shouldn't blame them too much, as in actual fact there is nothing they can do, the ship has a large hole well below the water line, it is called “magic money made from nothing”. What this means to the ordinary people caught up in this the biggest ponzi scheme of all times is dire poverty and deprivation on a scale not witnessed before. At this stage of their game unemployment across Europe is now at 11% for the second month in a row. Spain, has the highest unemployment rate in Europe at 24.3%, about the same as the US during the “Great Depression”. Greece at present has 21.7% unemployment, with Italy and Portugal both having 15.2%. France, one of the supposedly economically strong nations of Europe has unemployment running at 10.2%. Even that saviour of the western capitalist system, the US, unemployment has risen again and is now at 8.2%. These figures equate to 17.4 million people out of work across Europe, of that total 3.5 million are 25 years old or younger, up 214,000 on the previous month. What future does that predict for those young people of today and those still at school? In the face of all this “economic gloom” companies across the globe are shedding jobs like trees shed leaves as winter approaches.


        To any informed observer of the capitalist chaos that is at the present time, destroying millions of lives across the planet, it becomes obvious that the system cannot work for the benefit of the ordinary people, it cannot be transformed into some fair, just and compassionate system that will see to the needs of all our people. It is and has always been an unfair, unjust elitist system and at present it is the the throes of its biggest crisis since its inception, and its only chance of survival is to plunder all public resources and assets and in the process destroy the lives of millions of innocent people. This chaos in the capitalist ponzi scheme is also an opportunity for the ordinary people to organise outside the system and take control of their own lives, control of their communities and their work places. To start to build a system that will produce for the needs of all our people freed from the greed for profit, a system that is built on co-operation and sustain ability. Now is probably the best opportunity we have had in years to bring down a system that has exploited our parents and our forefathers, generation after generation. In the words of the song, “From the ashes of disaster grow the roses of success”, however it is up to us, the ordinary people, but we have to do it without, Leaders, Presidents, Monarchs and others of that ilk. Their record is one of greed, disaster, exploitation, war and deprivation.
An attempt to rescue the bankers and their friends.

ann arky's home.

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