Saturday, June 16, 2012

Result of recent Spanish "bailout" exposes nature of "bailouts"


The 100-billion-euro proposed bailout was risible against [i.e. ludicrously insufficient compared to] the conservative estimate of 450-500 billion euros of bad debt on Spanish banks' books; but it was a big enough new debt, piled on mountains of unpayable debt, to send Spain's sovereign and bank debt reeling. Spain's 10-year bond yield did not just jump, as on Monday; it skyrocketed, from 6.48% to 6.80%. 
from Backfire of Spain Bailout Triggers Euro Panic...
The head of the European Central Bank and other euro zone leaders worked on Saturday on a grand vision for the euro zone meant to reassure investors and allies that flaws in the currency union will be addressed quickly.
The plan will include measures to prevent bank runs AND REDUCE WHAT HAS BECOME A VICIOUS CYCLE OF GOVERNMENT DEBT PROBLEMS TURNING INTO BANKING CRISES, AS HAS HAPPENED IN THE PAST TWO YEARS. In addition, the plan will push for countries to remove the regulations and layers of bureaucracy that inhibit competition, keep young people out of the work force or make it difficult to start a new business.
from European Leaders to Present Plan to Quell the Crisis Quickly

This pair of excerpts show that the bankers know the bailouts are destroying the economy, and that they're lying to conceal the nature and effects of the bailouts. The first excerpt proves that the problem is the bailout process, and the latter excerpt includes an attempt to obfuscate this fact.

The bankers' puppets (politicians, economic "experts," etc) frequently complain about the burden of government on the economy, without mentioning that it's such a burden because it has been implementing "free market" (British imperial) economic policy, and fighting "wars" on behalf of the British empire. If these "wars" were halted, and the government were to adopt LaRouche's proven, logical economic policies, the government would become a catalyst for an economic boom of unprecedented proportions. This possibility terrifies the British empire, so it seems that the "war on terror" was named from this perspective, since it is a war on civilization and mankind.