December 26, 2011

The Sack of Rome


The WSJ describes the complex scams governments are using to just hand money over to banks without going through democratic considerations. Of course at each step along the way transactions can be inflated to benefit banks. Incredibly these privatizations (and that’s what they are) can be securitized, and pledged as collateral to borrow from the ECB. This explains why a Goldman Sachs crony has taken over in Italy. We are at peak loot.

WSJ:


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