Yesterday the banks took definite control and power of Europe and Sarkozy and Merkel know it. Never I have seen such a depressed expression on the faces of Merkel and Sarkozy. What does it mean to be a president without ruling over the country’s finances? It must be harsh to be told by a group of financiers to enslave your own people. Well done Sarkozy and Merkel. What happened? Yesterday the EU was forced to create a large fund to buy up bad investments from banks.
What will happen next? The European bank buys the bad investments and loans from the banks for a price much higher than the market value. No wonder the shares in the financial industry sky rocked. If you own a warehouse with apples and someone is willing to pay 100 times the market value of your apples, then the value of your apple stock increases 100 times and you made 100 times as much money.
The European countries don’t have money so they borrow this from the banks. Who is going to pay for this? The people from Europe. How can countries pay for this loan? Yes, your retirement money and health care go through the window. Nobody is helped with this solution except for the banks as their investment is saved.
What can be done? There is only one remedy: Let countries go bankrupt, the banks stand to lose a lot of money, nationalize them. Second, remove the money-creating power from central banks and banks, and put it there where it belongs: to the countries themselves. No king can be king without having the sole right to create money.