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Contagion Risk Increases – Euro Falls as Moody’s May Cut Rating on 3 Large French Banks Exposed to Greece
Contagion Risk Increases – Euro Falls as Moody’s May Cut Rating on 3 Large French Banks Exposed to Greece
Published in Market Updates Precious Metals Update on 15 June 2011
There is no way to "resolve" a debt-crisis within an economic system based entirely on debt. All money in circulation is the proceeds of a loan from the private central bank, at interest. No matter what the government does, no matter what the bankers do, the debt always increases faster than the actual amount of money in existence. It is like having a boat with ten holes in the bottom and only nine corks. Everything the government does amounts to yanking a cork from one hole and pounding into another in full view of the press cameras, while shouting, "I am working to fix the problem!"
The only possible "resolution" to any debt crisis is to shut the private central banks down, as Andrew Jackson did, and return to a value-based currency issued by the government itself, as Lincoln and Kennedy did, and which is the system the United States was founded on. The United States fought a war to be free of private central banking (the Bank of England), which made the American people the richest in the world until the economy was sold by a corrupted congress and President back into perpetual debt-slavery to the privately owned Federal Reserve and now to its hideously mutated bastard offspring, the IMF. All the talk about "resolving" the debt crisis is a smoke screen while the bankers loot the public until the whole system comes crashing down. ~Mike Rivero
June 15, 2011