The Manufactured “Debt” Crisis

Anthony Migchels – henrymakow.com July 27, 2012

People are calling this whole Credit Crunch Charade “an insolvency crisis.”
The latest example is  by Michael Snyder:
“Well, the truth is that this is not a liquidity crisis.  If it was, the central banks could flood the system with money and solve the problem.
No, what Europe is facing is an insolvency crisis.  There is way, way too much debt in the system and it is inevitable that an “adjustment” is going to happen.”
What nonsense!
In the first place,  all the major banks own each other. They also control or outright own the Central Banks. Even BIS is a private corporation. It’s just one massive cartel and monopoly.
So we ask: if my right hand owes to my left and he can’t pay up, do I go to my neighbor to bail out my right hand? Or do I, as the owner of both, just cross off this debt?
Huh? Get it? Instead, the bankers are using the “debt” as a pretext to squeeze the populace.

INTEREST

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