"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or your arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that you were our countrymen."

Saturday, 29 October 2011

The Bailout In Eight Minutes

A quick round-up of what's been going on this week in video form:

On Clegg @ 6.36: "... as if by luck". My thoughts exactly.


Zlocke100


6 comments:

  1. The problem for me with this video is that the maker ignores the fact that our contributions to the IMF who in turn may bail out countries (NOT CURRENCIES) are to a vehicle of “protected creditor”. This means that in effect, unlike the loans we stupidly gave Ireland last year this money is not lost. This does not actually present our country with any risk of default. That is my understanding of the IMF charter (And actually the ECB who also cannot lend money on any risk of default).

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  2. That's true but I thought I'd let it pass because he was so spot on about Clegg & the coalition stitch-up. Thanks for highlighting it - I shd have done it myself :-(

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  3. I think Europe is doomed. We will likely see it fall within the two years. My fear is that they will try and replace the EU with something worse, just as they did with the league of nations.

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  4. It's a slow death for the EU, Tres. They'll cling on to the ideology for as long as they can. And while they're busy experimenting, trying to govern the world, Europeans are in soup kitchens.

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  5. @mocktheleft
    Agreed with your comment but, this is more borrowed money from G-D only knows who.Money that could have been used to benefit this nations people or would not have increased the deficit. And the money may as well be lost until we get it back.

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  6. Hi NewsboyCap. The idea is that we borrow at low interest and lend to IMF at higher interest - that's always been their excuse. However, the ECB itself is in a bad way and only last year the IMF was asking for more money because it was running low. Economics of the madhouse. Someone has to stop the merry-go-round.

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