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There is only a banking crisis

21 Sep

From: http://www.ukcolumn.org/blogs/imf-still-pushing-lie-economy-has-anything-do-gdp

IMF Still Pushing Lie That “Economy” Has Anything To Do With GDP

With typical sophistry, the IMF has announced that the global economy has entered a “dangerous phase”, as if it hasn’t been in a terminal phase since 2007. They have downgraded their predictions for “growth” and warn that continuing political and economic problems in the USA and Europe could push these regions into a “double dip” recession. Whoopie-doo.

It amuses me to watch these so-called “economists” – people who would stare down their noses at “alternative media” commentators, of which I am only one of many – to watch them flounder around in blind panic at their complete lack of understanding of why the situation only gets worse. They continue to bandy the words “sovereign debt” as if it explains away the problems. They print more and more money to throw at the problem as if it will help. They insist on mixing up the word “economy” with “financial system” and “banking system”.

So, once again, just in case one of these nut-jobs is reading or has this forwarded on to them:

There is no sovereign debt crisis. There is no economic crisis. There is only a banking crisis.

We all know it, so stop lying.

It is the Inter-Alpha banking cartel, the IMF, and every central bank in the so-called first world which is in crisis.

And while we’re at it, let’s spell it out for our “representatives” in Parliament, and especially Georgie and Vince … the IMF is morally and literally bankrupt. Ignore it.

The only way to fix this crisis is complete separation of the retail and investment banks, and let the speculators – you know, those people you holiday with every year – let them go to hell. Once you’ve done that, give the “Independent” Banking Commission a new job – to assess the legitimacy of the debt. But no City of London shills on there this time, please. When they come to their inevitable conclusion that almost all the debt in circulation is illegitimate, write it off. Get rid of the lie that GDP has anything whatever to do with economy. Start measuring the economy in terms of physical productivity. Rebuild the nation.

Anything less is treason.”

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