Profits from debt
The latest bailout of yet more debt heaped upon Greece has been agreed by a parachuted-in prime minister and an unelected government.
The emperor’s newest clothes are so full of holes that the financiers have got their hands through every one of them.
Their latest ploy allowed them to make millions in seconds, by buying euro currency just before the agreement and selling those holdings at a few points higher, before the markets dropped the euro down again. Such is the speed of computer-to-computer trading.
Economic growth should be about production, savings and real investment, not consumption, debt and fake money.
Statistical figures are akin to black pudding: easily swallowed until you find out the ingredients!
Ronald Rankin
Coates House
Dalkeith, Midlothian
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Sunday 27 May 2012
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