Global Debt Crisis: Financial Destabilization for Profit and Power

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Bob Chapman
James Corbett
September 29, 2011
12:04

Description

Global Debt Crisis: Financial Destabilization for Profit and Power
by grtv

The European sovereign debt crisis which has been gestating for years seems ready to come to a head as the IMF met last weekend in Washington that were dominated by talks about Greece, debt, and the risk of global contagion.

Amidst tense talks about the future of the Eurozone in which the idea of allowing Greece to default on its insurmountable half-trillion dollar debt was floated, even the usually staid US Treasury Secretary, Timothy Geithner, warned that "cascading default, bank runs, and catastrophic risk" was a real possibility.

G20 Finance Ministers and central bank governors are now calling for the European Central Bank to double their existing bailout fund to create a trillion Euro emergency stockpile to recapitalize European banks and fund Spain and Italy as their economies teeter on the edge of a Greek-like meltdown...

TRANSCRIPT AND SOURCES: http://www.corbettreport.com/?p=2699

Comments

 
2011 / 10 / 01
Weniger Gottquatsch says:

Well done, James.

The clip from the BBC featuring an honest stock trader was especially illuminating.

2011 / 10 / 01
USAma Bin Laden says:

Below is a more revealing and hard-hitting analysis about how the United States and United Kingdom are behind the "European" financial crisis.

Nor surprisingly, this is a perspective that you won't hear from most of the Anglo-American media, either mainstream OR alternative:

Europe Must Fight Back Against US-UK Speculative Attacks
http://tarpley.net/2011/10/01/europe-must-fight-back-against-us-uk-specu...

"The speculative attack by Wall Street and City of London banks and hedge funds against European countries, European banks, and the euro is now reaching a crescendo. The current European crisis does not derive primarily from economic fundamentals, but rather represents a cynically planned assault carried out by Anglo-American financiers, whose philosophy is the traditional Beggar My Neighbor. The goal is to shift the epicenter of the world economic and financial depression from London and New York onto the continent of Europe, and this operation has already partially succeeded. London and New York are exporting their own derivatives depression into the EU, using credit default swaps, corrupt credit ratings agencies, and their entire panoply of financial dirty tricks. We are not dealing here with the normal functioning of markets; we are dealing with all-out economic warfare."

2011 / 10 / 03
Jennifer Grove says:

Jubilee!

Step #1
FORGIVE ALL DEBT! ALL OF IT!

Step #2
STOP COUNTING DEBT AS MONEY!!! STOP IT! STOP IT!!! STOP IT!!!

Step #3
Start over by growing human value instead of growing human immaturity and regression!! Consider human beings BANKS OF HUMAN VALUE! Consider good qualities in human beings as assets and count them and trade expressions of that value. Do not create a currency that people cannot grow within their own lives.

Do not create a currency which greedy people can withhold from other people, create huge piles of and call that "growth". It's not growth! It's only concentration! Concentration impoverishes the people! STOP IT!! Anyone who creates huge piles of currency are CRIMINALS! People who keep distributing currency down to the common person are valuable members of society! DON'T TAX THEM!!

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