YOU TUBE: MUST SEE! ‘World Economy Collapse explained in 3 minutes’ – John Clarke and Bryan Dawe calculate the cost of the European debt crisis – A comedy routine.(But what’s happening is NOT funny!)

 

YOU TUBE: MUST SEE! ‘World Economy Collapse explained in 3 minutes’

– John Clarke and Bryan Dawe calculate the cost of the European debt crisis

– A comedy routine.

(But what’s happening is NOT funny!)

www.youtube.com/watch?v=LyePCRkq620

John Clarke and Bryan Dawe calculate the cost of the European debt crisis

– A comedy routine. It may seemed hilarious but this is actually what’s happening. Without all the financial jargon, any layman can understand what is happening to the current economy crisis.

How can broke economies lend money to other broke economies who haven’t got any money because they can’t pay back the money the broke economy lent to the other broke economy and shouldn’t have lent it to them in the first place because the broke economy can’t pay back?

JANE BURGERMEISTER REPORT: ‘Deutsche Bank writes German Finance Ministry’s Greek debt policy, ARD documentary reveals’

Deutsche Bank writes German Finance Ministry’s Greek debt policy, ARD documentary reveals

The German government’s policy on debt restructuring for Greece is lifted directly from policy papers prepared by the Deutsche Bank, it has emerged.

The proposal floated at the beginning of June by the German Finance Minister Wolfgang Schäuble for a voluntary bond swap leading to a prolongation of the outstanding Greek sovereign bonds by seven years is based on a document by Deutsche Bank, investigative reporters from Germany’s ARD TV station have revealed.

http://www.wdr.de/tv/monitor/sendungen/2011/0616/Griechenland.php5

The Deutsche Bank document called “Proposal for Greek liability management exercise – burden sharing without haircuts” insisted, not surprisingly, on a voluntary participation by banks.

The revelation that the Finance Ministry in Berlin just takes over the contents of policy papers of Deutsche Bank offers yet more proof that Chancellor Angela Merkel and Wolfgang Schäuble are puppets of the commercial banks.

Merkel and Deutsche Bank CEO Josef Ackermann attended this year’s Bilderberg conference in Switzerland and would have had ample opportunity to discuss ways and means to expropriate yet more money from the tax payers under one pretext or another.

The Deutsche Bank plan brings no real relief to Greece from the loan sharking operation run by the EU and ECB, which, acting like the Federal Reserve, flooded the Greek economy with cheap money in a boom phase before helping to ignite a bust, allowing banks like Deutsche Bank to call in the debts, seize collateral and imposing loans at penal interest rates which tax payers across the eurozone have to pay.

Also, Deutsche Bank itself broke a voluntary agreement to retain Greek souverein bonds, offloading them in stealth on the ECB. The ECB holds billions of dubious Greek debt against the rules and it is the tax payer’s who will have to pay.

What worth are voluntary agreements when Deutsche Bank breaks them?

The proposal by Schäuble was a PR stunt to hoodwink the electorate and the increasingly restive German parliament, worried that the scenes in Athens might soon be repeated in Berlin.

Yet another theatrical PR stunt was the announcement by Merkel at a joint press conference with Nicholas Sarkozy today that Germany is not going to insist on private creditors reducing their interest rates for Greece, after all. What a surprise!

JANE BURGERMEISTER REPORT: ‘Max Keiser spreads hysteria about bank crashes’

Max Keiser spreads hysteria about bank crashes

Max Keiser dropped a clue as to who he really works for when he revealed in a radio interview on the Alex Jones show that he sold his office space in the WTC just before the September 9/11 attacks – and Alex Jones never picked him up on that or asked any questions. Strange.

Keiser also pushed the ludicrous plan to destroy JP Morgan by buying silver – and made a  hefty profit from selling his own silver coins, no doubt.

And he advocated an irresponible bank run – something that all the banksters want to have an excuse for another bust after their booms.

More and more people are recognising that not only is the mainstream media controlled. Large sections of the alternative media are too.

Now Keiser is off message again in making the unfounded claim that there is a genuine danger of a Greek default destroying the eurozone financial system in the event of Greece going bankrupt.

But the fact is, it is the ECB and state run banks that now hold the overwhelming majority of Greek bonds and not private banks.

The few commercial banks that still hold some of these bonds like Deutsche Bank can easily afford to write off their losses.

And if they can’t they should go into a managed insolvency. There should be no more tax payer money wasted on this scam.

We all know the banksters want an excuse to crash a banks because they need their second bust or double dip recession to really clean out the eurozone tax payers.

Added pressure for a bank crash soon comes from the bankster’s need to divert attention from the way the ECB has become a huge bad bank against the rules. In fact, the ECB now has so many bad loans from Greek, Portuguese, Italian and Spain banks on ist books that it is threatening the financial system of the eurozone.

The dynamics inherent in the public sector Ponzi scheme and loan sharking operation run by the ECB, EU and IMF mean that the ECB must keep on taking onto their books the garbage collateral in return for giving banks good money.

The banksters hope that by engineering private bank to go bankrupt, the general public will be so confused they will not notice the ECB is insolvent because of its role in this scam.

An Austrian bank could highly likely be the one that declares itself bankrupt, causing financial mayhem. We know that the Austrian interior ministry hammered out a secret plan for a Greek default and bank crash one year ago.

In 1931, it was an Austrian bank, Creditanstalt, which fell on ist sword and wrecked the financial system.

Max Keiser is the banker’s tool. But why does he keep appearing on the Alex Jones show to spread hysteria on behalf of the bankers after his abysmal record?

http://www.infowars.com/max-keiser-mass-rioting-in-greece-as-economists-warn-of-global-armageddon-scenarios/

JANE BURGERMEISTER REPORT: ‘Greek banks offload bonds onto ECB, taxpayers on the hook’

Greek banks offload bonds onto ECB, taxpayers on the hook Jane Burgermeister | June 17, 2011 at 1:53 pm | Categories: Uncategorized | URL: http://wp.me/puNtl-1iq

The National Bank of Greece has offloaded 4.8 billion euros worth of Greek bonds since the end of March this year reports Der Spiegel – and it is the ECB which is taking them and against the rules.

Eurozone tax payers will have to pick up the tab for the 100s of billions of bad loans now on the ECB books.

Read more in German at: http://www.spiegel.de/wirtschaft/unternehmen/0,1518,768788,00.html

NBR: ‘Govt looks at lower rates for young workers ‘ + my comment

www.nbr.co.nz/article/govt-looks-lower-rates-young-workers-ck-95556#comment-144118

Govt looks at lower rates for young workers

The government is not ruling out a return to lower rates for young workers.

Prime Minister John Key this month indicated National would campaign on further changes to labour laws — and did not rule out reinstating a youth minimum wage.

Now Employment Minister Kate Wilkinson, asked about the issue, said the Government would look at options to help younger people into work.

“We’re particularly concerned about the number of youth who simply aren’t able to find jobs, especially first jobs,” she said.

“While the employment rate for those 20 and over is improving, this isn’t happening for teenagers and we’re taking a close look at what sort of policies will help them get the work experience they need. ”

At this stage, the Government hasn’t yet made any decisions on what policies it intends to campaign on this area.” The last government ditched youth rates, with some exceptions around trainees and young workers starting out, and said the minimum wage should apply to all workers from 16 years-old.

This March the Government ruled out supporting a bill introduced to Parliament by ACT MP Sir Roger Douglas seeking to allow the reintroduction of youth rates.

However when the bill was first brought up in Parliament Ms Wilkinson said National was “always willing to listen to good ideas”. She also praised Sir Roger for bringing up the issue and mentioned National’s opposition to Labour’s ditching of the youth rate, saying “we were concerned it would price young people off the job market”.

When National ruled out supporting it Social Development and Employment Minister Paula Bennett said the Government did not think it would reduce youth unemployment and would be a distraction from improving job opportunities.

ACT argued the minimum wage stopped employers taking on young workers.

Labour youth affairs spokeswoman Jacinda Ardern today said it made no sense to pay younger workers less than others for doing the same job.

“There’s no value or justification at all in simply getting rid of older workers and replacing them with cheaper young workers. That’s just transferring the unemployment problem.”

Youth unemployment was a problem — 27 percent of those aged 15-19 were not in training or jobs, she said. But back in the 1990s youth rates had no impact on unemployment.

“And they won’t bring levels down now. The lowest levels in recent times were under Labour when youth wages were abolished.”

Green Party MP Gareth Hughes said youth rates would mean a pay cut for those already employed.

“A move to bring back discriminatory rates of pay will see young New Zealanders flocking across the Tasman,” he said.

He said the Government had failed to address unemployment and more needed to be done to improve training and opportunities.

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Comments and questions

1 “The government is not ruling out a return to lower rates for young workers. Prime Minister John Key this month indicated National would campaign on further changes to labour laws — and did not rule out reinstating a youth minimum wage.” _________________________________

GREAT way to capture the youth vote!

‘Equal work – equal pay’ .

If you cannot pay lower wages to someone on the basis of sex or race/ethnicity – why is it acceptable to pay lower wages on the basis of age – IF THE PERSON IS DOING THE SAME WORK?

Don’t recall seeing cheaper rents, power charges or food prices for younger people?

So – why should they get less pay?

Penny Bright

waterpressure.wordpress.com

Penny Bright | Friday, June 17, 2011 – 5:10pm