Tag Archives: Bloomberg

Global debt soars; no end in sight

I have often pointed out, but almost no economist is willing to admit, that central governments play an essential role as “borrowers of last resort” to keep a flawed system of money and banking from collapsing. In their collusive arrangement with the banking elite, government’s debts will be monetized through the actions of their respective central banks. This is the process of currency inflation, which is now euphemistically called “quantitative easing.”

The empirical data makes this plain to anyone who cares to look at it and put two and two together. The Bank for International Settlements has just reported that global debt has increased more than 40 percent in just the past six years. You can find more details about that in this recent Bloomberg article: Global Debt Exceeds $100 Trillion as Governments Binge, BIS Says.

When debt growth, fueled by compound interest, hits the wall of physical reality, something’s got to give.

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Wall Street Financial Rapists Try to Stay Hidden

In an interesting turn of events, Bloomberg News has filed a suit that would require the Fed to release details of where $2 trillion of bailout money went. Now the banks are trying to block a court order that would force release of that information. You can read all about it in this article:

Banks Threaten To Go To Supreme Court To Prevent Fed From Disclosing Details Of $2 Trillion In Bailout Loans They Received