Banks are lying about money laundering - see http://www.guardian.co.uk/world/2011/apr/03/us-bank-mexico-drug-gangs - as an example. They are also hiding losses illegally through massive false accounting that has been 'made legal'. The basic scam is similar to the alleged 'rogue trading' that brought down Barings - losses are being moved around through subsidiaries and the ability to 'mark to model' (instead of market) on assets - hence Bank of America is claiming to be worth $325 billion but is only trading at £65 billion on the exchanges. What we probably have is the near certainty of bank collapses. We are currently funding these bent operations instead of going to full employment and wealth redistribution to prevent recession. Banks have sprung up all around the European drug routes for no other explicable reason (just like Miami in the past).
There is no reason for a global recession, but that's different from whether one is being engineered. The Greeks are currently being pilloried as having wasted all the money 'we' lent them - but who made the decisions to pile money in there rather than into factories or whatever? Not only is cash hard to track as Rigsby says - one can't even track through bank accounts of their own assets, much of which are junk but claimed, via securitisation as 'real'. On Aug 27, 1:31 am, "Howard Lee Mosely Jr." <[email protected]> wrote: > people are at a point where there own person and security is for more > value is worth more than loyality to at state : or organizatoin : morals and > manners discarded for more of a authorized control to ease a subconcious > rebeling of a hibitaully slaved mindstate than the sence of being govern > seems adverse to a widen culturaled soicity where humanity over powers > human error and misplaced hatreds for the presevation of all kind humankind > ?? > > On Fri, Aug 19, 2011 at 6:12 AM, paradox <[email protected]> wrote: > > Recently, i read of an "authority" on institutional debt proclaim that > > a global recession was now inevitable. My first thought was that this > > was something of a curious "God like" statement, which was actually > > plain and simply wrong. There is actually next to no risk of a global > > recession. > > > How do they get away with stuff like this, i wonder? > > -- > Howard Lee Mosely Jr.
