European governments are issuing bonds to pay for government debt. The ECB (European Central Bank) has become a willing purchaser. The ECB is 2/3 owned by the German, French, Italian and English Central Banks. The economies of France and England require close attention. The external debt to GDP ratio is 208.2% and 387.93% respectively. Portugal and Ireland are the worst at 240.67% and 1109.92% respectively. Ireland’s last leprechaun was sacrificed at Bohemian Grove. The pot of gold is now a box of chocolates. England’s economy should be a major concern for the global economic gurus.
When governments issue debt the ultimate responsibility for repayment of the obligation rests with each country’s citizenry. Of course the USA can keep printing money to satisfy any potential default, but how will the debt be repaid and why do ordinary citizens accept the fact that they are being put deeper and deeper in debt.
Bailout recipients have traditionally been the banks and multi-national corporations. They had been given these TARP funds to stimulate the economy and create jobs. They did exactly that - only they did it abroad. While the U.S. debt keeps growing, corporate profits go to pay executive bonuses and dividends. Does this make sense? The banks and multi-nationals borrowed these funds at zero cost, with no specific repayment terms. Why does the Federal Reserve simply not call these loans? Would that not be a very simple solution to the U.S. debt crisis?
On July 22, 2011, I wrote that on August 4, 2011 we would see the start of a “global transition”. This transition is about what I forecast on January 2, 2011 - a “One World Currency”. The Globalists are so far behind their in “New World Order” plan that they continue to contrive chaos, and out of chaos they hope to build a new global order. Soon they will be describing God as a non-interventionist villain. They have employed Stephen Hawking to tell us there is no God or more specifically a Creator. This the foundation of Masonic belief.
I wish to give my sympathies to the families of the Navy Seals who were most likely executed by their own government. Heroes in a war where there are no enemies. At this point in history we are all Navy Seals.
Perhaps you can read the poem I wrote on August 2, 2010 entitled “Chaos”. It can be found in my September 2010 Blog listings.