Bailouts are the name of the game
The first big national bailouts began with Latin America followed by Mexico, Asia, Russia, the US, and now Greece, as well as the rest of Europe. Will China be next?
Bailouts are the name of the game. Bailouts are designed to shift the bank's losses to the taxpayers. This means the citizens of Greece will pay higher taxes, and Europeans will have their currency, the euro, devalued, which means life in the European Union will get more expensive.
Bailouts are how the banking cartels that run the world steal the wealth of the people.
Bailouts are part of the international bankers' business plan.
Bailouts are the way the banks put their hands into taxpayers' pockets with the blessing of government leaders.
Taxpayers pick up the tab as the bankers keep their profits.
It is now about borrowers with jobs and good credit; borrowers who could afford to keep paying off their mortgage but who were instead walking away and taking voluntary foreclosure. Why were they doing this?
The answer is because their homes were worth less than 50 percent of the mortgage. In other words, they were underwater. Those interviewed decided the money they saved by walking away from their mortgage was worth the blemish on their credit rating.
What's going to happen when the world finds out that Greece, Spain, Italy, Ireland, and England have also cooked their books? What about the United States?
Bailouts are the name of the game. Bailouts are designed to shift the bank's losses to the taxpayers. This means the citizens of Greece will pay higher taxes, and Europeans will have their currency, the euro, devalued, which means life in the European Union will get more expensive.
Bailouts are how the banking cartels that run the world steal the wealth of the people.
Bailouts are part of the international bankers' business plan.
Bailouts are the way the banks put their hands into taxpayers' pockets with the blessing of government leaders.
Taxpayers pick up the tab as the bankers keep their profits.
It is now about borrowers with jobs and good credit; borrowers who could afford to keep paying off their mortgage but who were instead walking away and taking voluntary foreclosure. Why were they doing this?
The answer is because their homes were worth less than 50 percent of the mortgage. In other words, they were underwater. Those interviewed decided the money they saved by walking away from their mortgage was worth the blemish on their credit rating.
What's going to happen when the world finds out that Greece, Spain, Italy, Ireland, and England have also cooked their books? What about the United States?
At least a few Americans know that the US has a few off-balance sheet Improvised Explosive Devices (IEDs) on their books. They're called Social Security and Medicare.
