Save the bankers – day

October 20, 2011


– Statue de la Liberté, Paris –

Head of State:  Madame, the people want their money…

Europe:  Well give them bonds Francois; liberty bonds!

You may ask yourself why many young people are so upset in Europe these days; why they camp out, demonstrate… in Greece, in Spain, in Denmark etc.  The staggering sum of 2 billion Euros to save the banks could be one of the reasons.

2.000.000.000.000 (2 billion) Euros

500.000.000  (500 million) plus inhabitants   (As of 2008; Wikipedia)

=

4000 (4 thousand) Euros, in guarantee, per capita  – including toddlers and the aged
to save its bankers from their capital sins.

As European governments call for sacrifice and seek to sign the debt per capita, the ones who are being economically bound into their futures are increasingly upset. It is hard to blame them.

The principle of letting the children carry the burden of the sins of their fathers, the next generation the errors of the previous, is being set in stone as we talk.

While governments have legislated in the past to insure and protect private capital gain, private debt is now being socialized and distributed across society. European citizens are being offered economic chains for a crime they didn’t commit.

When did our democracy begin to reconstruct the social pyramid which it was supposed to demolish?

If the Old Order is back, in different clothes and with a different divinity, our present Mon[ey]archy could be about to breed anarchy.

It is better to repent before the innocent throw stones.

 

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8 Responses to “Save the bankers – day”

  1. Convening on the very first Banker’s day:

    “Its unfortunate, but we just can’t seem to convince the peons to take out crippling debts….and the ones that do, well they frequently die off and their debts are absolved”

    “hmmm, no worries. Call up your cousin in office and have him take out a national debt'”

    “But the nation isn’t in need of money, and the debt would never expire- people won’t stand for that”

    “We’ll see”

  2. Richard said

    What we witness is the culmination of decades of abuse of money as the medium of exchange in the market place and the decline of both socialism and capitalism as a result.

    That abuse is firstly the lending and raising of money at interest and secondly interference by the state in the workings of the market. Since the market is the only true way of determining comparative worth, injustice results and with it discontent. Inflation, for example, arises from both these abuses and is caused by profligate lending and by the creation of artificial money by the state.

    As always, it is the strongest and the most vocal who are the first to plead their special interests and we see this from the richest and from those who rely upon state action. The manifestation of injustice is that money is directed to those who do not contribute by their efforts to the general good, as measured in the market place.

    In the past, an uneasy, temporary compromise has been reached. The question now is whether things have gone too far for compromise.

    Let us hope that somehow moderation prevails in the making of money out of money and in the applying of state bail-outs and that those capable of participating will continue to buy and sell goods and services in the market-place. Only by maintaining such activity will livelihoods be made and surplus genuine resources created for the relief of suffering.

  3. Exuvia said

    Richard,
    you have summed it up in in rather solemn terms; dry and barren of irony.

    I extract one factor from your analysis the irresponsible making of money unrelated to a corresponding growth in production.

    A trustworthy monetary system has a 1:1 correspondence between goods and coins.

    If the coins are doubled and the gods remain the same the 2:1 correspondence has produced a 50% inflation.

    The market price is automatically adjusted as a function of the money to goods ratio

    This is actually stealing from those who trusted the system and acquired coins with the hours of their lives and the sweat of their brows.

    Buying power appears arbitrarily to which no physical object corresponds; ghost money with unjustified rights to the marketplace.

    The pain of this mechanism is distributed upon many shoulders to make it bearable but this time they may have gone too far, and wish to go further.

  4. Exuvia said

    Banking may have to be replaced by something in which people can trust. Its power and responsibility cannot remain in private or corporate hands.

    Today we are like sheep taking our lambs to daycare at the butchers

    • Richard said

      You state the position far better than I could, Exuvia.

      One wonders whether bankers themselves understand the fundamentals. A senior banker debating with demonstrators outside St Paul’s Cathedral said, pointing to a child’s bonnet, “There would be no bonnet to wear if a bank had not made a loan to the manufacturer.”

      Quite apart from the inherent fallacy and exaggeration of his function, how could he possibly know?

    • Richard said

      There again, I doubt the state could do any better.

      Moderation all round is the key to compromise.

  5. Me temo que pueda ya ser muy tarde. Los inocentes están en pie de guerra. Espero que no sea así.
    Me gustaría escuchar tu lectura sobre los “Indignados” mi amigo.

    Un gran abrazo!

    • exuvia said

      Mi querido Pedro,
      que gusto tenerte comentando aquí.

      Ya veremos si la gota que derrama el vaso ya cayo; es un cúmulo de años de errores, de una errada comprensión de la función de un banco o tesorero. El poder siempre marea la consciencia.

      No he leído los “Indignados” aun; me parece que puede tratarse de América Latina. Tengo que buscar.

      Un abrazo
      Exuvia

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