Damn it is good to be a banker!

Imagine a " shoe maker" being insured by his government of a " bailout" fund in case his enterprise flooder or is overtaken by competition! Imagine a chain of restaurant being offered the same deal, or the car makers. Will that make any sense? Being insured by the State for potential private losses? What is this all this about?


Well, the European Union has just managed to come out with such a plan:

" European finance ministers decided Monday to provide euro500 billion ($674 billion) for a new crisis fund that will come into force in 2013, but continued to fight over the best way to combat thecurrent debt crisis that has crippled the eurozone over the past year.

The ministers "agreed on the provisional volume of euro500 billion , which will be revised every other year," said Jean Claude Juncker, the prime minister of Luxembourg who chairs the regular meetings of the 17 eurozone finance ministers."

But why does it always have to be the bankers who get bailed out at all cost and by all means? 

The reason is quite simple: Our current monetary system is a true definition of a pyramid con! The banking system is built on a paper fiat system unbacked by Gold or any other hard asset that can be exchanged in return. This system has therefore enabled the banks and the States to engage in inflationary excesses; which have led to the recent economics crisis or recession. The recession is in fact the necessary readjustment of misallocated capital and resources. Therefore, for the price system to be established on newer footing, the elimination of the parasitic and capital wasteful institution is a must! Those institutions are particularly the big banks who have incurred a tremendous amount of losses against their ledgers by betting on toxic assets created during the years of speculative effervescence.  

Quite simply, the banks are bankrupt and they must go! 

But it ain't that simple: The problem is global, or to be correct " Western". The major western banking corporations have incurred debt and losses across the planet, therefore overexposing themselves to losses in America and in Europe. If one bank is allowed to fall in Greece, the domino effect could lead to the bankruptcy of a german bank, a French bank, an Italian bank, and an American Bank!

Basically, the big bankers are unwilling to take the plunge because...well, they will all be drowning into the same lake! Rather, let's postpone indefinitively until a new monetary order is created by the IMF as issuer of a new world reserve currency named : SDR! That is their big plan!

The governments of the West are bankrupts, almost all of them and their bankers are in bad shape as well. If the bankers are left to fall, the governments will have to follow and the elites in those Nations are not ready to let the power get away from them! Rather, they will try to inflate, creating further economic distortion and potentially stirring the the wind of violences from their angered masses.

For now, the unpunished bankers are given carte blanche to continue their highly risky speculative activities that have led to the current crisis. But how long will that last until a new crisis hit the system ?

But for now: " Damn it is good to be a banker!"