Tradefair & Financials
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I wonder what is really going on 
Perhaps this is a diversion while they try to figure out what to do with Greece.
I cannot ever remember such doom from world politicians who of course cannot be trusted.
Perhaps this is a diversion while they try to figure out what to do with Greece.
I cannot ever remember such doom from world politicians who of course cannot be trusted.
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The doom in their words comes in rare moments of honesty. The situation is really that dire. What (in the financial world and the real economy) could be more dire than the global banking system collapsing? The can has been kicked down the road and the rot has been papered over only for so long. The politicians and central bankers have completely lost their sense of reality.
The banks are insolvent. The central bankers know it, the politicians know it. The system must be allowed to rebalance. The only way you can do that is by allowing the debts that can not be repaid to default and clear the system. That comes with a lot of pain that no politician has the nerve to allow. It's either that however or going from crisis to crisis at an accelerated pace for the next five years (if the system lasts this long) until we hit the wall anyways despite of what new scheme politicians/central bankers dream up again to "save the world"
In order to have recovery, banks need to be reformed. The retail business must separated from the investment business. Separated, not ring-fenced nonsense. And it must be done NOW, not eight years from now. Here, in Europe, in the US, everywhere. This won't happen though, not the least of which, because the banks have the politicians in their pockets. The only way the system will be reformed is by uncontrolled collapse. Just be patient, we're getting there.
The banks are insolvent. The central bankers know it, the politicians know it. The system must be allowed to rebalance. The only way you can do that is by allowing the debts that can not be repaid to default and clear the system. That comes with a lot of pain that no politician has the nerve to allow. It's either that however or going from crisis to crisis at an accelerated pace for the next five years (if the system lasts this long) until we hit the wall anyways despite of what new scheme politicians/central bankers dream up again to "save the world"
In order to have recovery, banks need to be reformed. The retail business must separated from the investment business. Separated, not ring-fenced nonsense. And it must be done NOW, not eight years from now. Here, in Europe, in the US, everywhere. This won't happen though, not the least of which, because the banks have the politicians in their pockets. The only way the system will be reformed is by uncontrolled collapse. Just be patient, we're getting there.
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