The Euro … “No. I told them in 1997 or 1998, when they were creating the Euro, that they couldn’t do this and they had to have a single debt. They felt that it would be perceived as a bailout of members that had more debt at the time. The EFSM, which is part of the European Financial Stability Fund (EFSF), is moving in that direction but it’s more of a bailout mechanism, not a consolidation. It’s a half measure. They need to convert the existing debt into federal bonds and whatever new debt is issued by European Union member countries would be the equivalent of U.S. state debt and not acceptable for reserves.”
No, not my words.
After a lot of reading and understanding capital flows and the global economy, I came to the conclusion that mainstream economists know very little. They are very well paid mind you, Picketty Krugman and little known Australians like Carr. All have voices and a soapbox.
Then again, I specialised in tax minimisation, a total different field from economics. With this in my mind, I could see the problems with Government and politicians in general.
Taxes and Government go hand in hand, everyone was a serf, a slave to support the bureaucracy.
It was only after a forced ‘sea change’ at what I considered a young age, did I start expanding my knowledge and reading. My financial future depended on it.
My eyes opened, my comprehension of global matters shattered, preconceived theories and understandings trampled in the dust.
So why write this blog…
Live in hope that politicians will change …
That however will not happen. I posted the above quote on Yanis’ blog hoping above all else that this new broom would realise that there are people out there that know how to fix the world’s problems.
Not my quote… Just from someone I respect.
Yes, amazing that. Pity that politics and oligarchs get in the way of a good outcome … Yes money and power rules.
Too many people died, powers were corrupt.
Fabianism, well … Oligarphs rule. Politicians are then corrupted.