Black holes and the financial system. Is there a correlation? There’s been a great deal of talk in the press and amongst friends about Europe. Cyprus receiving the majority of the headlines and the gossip. Currently Cyprus is using austerity measures to try raise £6 billion dollars ($7.8 billion) to qualify for £10 billion dollars in bank bailout money. At first there was talk about slapping all bank depositor/savings accounts with a 6 to 9 percent “tariff” or tax. Banks were closed and withdraws limited from £200 to £300 euros to prevent the countries depositors from withdrawing their hard earned savings. This tax was debated, but eventually cooler heads prevailed and it was voted down.
Phew! Was the collective sigh of relief muttered by the many.
Unfortunately this would not be the end of that ridiculous talk. As the banks stayed closed there was more debate on how to raise the much needed funds to stave off an impending financial collapse of the banking system. Brought on by borrowing money to buy Greek gov’t bonds, which later Greece defaulted on. Thus imposing big losses to bond holders, making them insolvent. One option thought of was to nationalize pensions to pay for the debts of the super rich. This was seen as insufficient by head EU leaders and tossed aside. Then another idea came to light, this time much bigger and loftier than the afore mentioned. A vote was taken and passed. It would be one of the greatest robberies of our time. There were no armed hooded bank robbers in sight, nor was a single shot fired! These robbers wore suits and ties and they just stole untold millions from depositors. Not just from rich Russian oligarchs, but from men and women who had amassed a wealth over a life time, some of which are now retired and depended on that income to help family and pay their way through retirement. I read one story of a man who had worked his whole life street vending various items. He amassed a wealth close to a million euros. He showed a bank statement that read one day he had £780,000 euros and the next had his account levied. He was left with £128,000. His plans to buy a house, possibly a boat, help his grandchildren, all on hold. He says “one night I went to bed a rich man, the next day I awoke a poor one”.
I have read various articles, some of them calling these measures, Draconian and one step away from Dictatorship. I would have to agree on both accounts. The question is; At what time do we allow a system to fail? What do the numbers have to be to say to ourselves, “This system is not working, it has failed not only us but is has failed democracy itself”. At what stage do we say enough is enough and hit the reset button? The answer it would seem, is never. Because as long as there are tax payers paying into the “system” there is endless amounts of money constantly coming in these “suits” can and will use to offset their system from financial implosion. The problem we are now faced with is, the bar has been set high. Now, not even your once cherished bank account is off limits from the slimy, slithering suit wearing pond scum that say they have your best interests at heart. It just simply is not true.
The other questions I have are these; Where do we draw the line in the sand? At what point do we get mad? How much do we as an honest, hard working people have to endure before we say enough is enough? While they’re busy coming up with new ways to separate you from your hard earned cash we stand idly by saying “well we need that tax, tariff, levy, toll, fee to keep the “system” going”. Peace and harmony right?
At what cost, yours or theres? Because there is a difference. You know that right? I am not trying to be Paul Revere here. What I am trying to do is wake you all the hell up from this terminal, blind slumber we seem to be in. What we are saying is it’s ok to steal our money, implement new schemes to separate us from it, and draw up new laws to protect themselves in the name of saving a system from financial Armageddon that clearly is more corrupt than Al Capone himself.
The system is failing because it is meant to fail. If it weren’t the world would not be dealing with the ramifications of a mortgage crisis that began in America in the first place five years ago. Do you know why there is no insurance for greed? You don’t need it. Because as long as we keep idle, allowing them to roll over us with one bad decision after another they will always have a way out. The middle class. Soon there won’t be one because we won’t say one word, Stop! Stop stealing our money, stop taxing us into oblivion. When a business has failed, bank or otherwise, it has run its course. If you don’t pay your bills and continually rack up debt upon debt, can you keep going back to the bank repeatedly? Of course not. The bank eventually would repo your car, your house and if they could, the shirt off your back if there were value. It seems the rules are different for banks and big corporations. They aren’t allowed to fail, but it is okay if you do. Does that make sense? Watch the Michael Moore movie “Capitalism; I love story” to fully understand what I am saying.
If you don’t think what’s happening in cyprus will happen here, think again. In the governments “Economic Action Plan” pages 144/145 it says. “The government proposes to implement a Bail-In Regime for systematically important banks” Their words, not mine. Should another economic collapse rear its ugly head and banks need bolstering. In short, your savings account will be reverted to junk status. Insurance, sure give it a try! When the bank and the government own the insurance company, in essence are “in-cahoots” with one another, why would they take your money then repay you with theirs? That’s not economical at all is it.
Times are getting tougher. Mostly for the working class. The goal of the elite, the suits and the corporations at least from my view, is to keep us paying into a bottomless pit of despair. Never quite being able to afford retirement and in debt up to our eyeballs. Perhaps black holes and our financial system have more in common than I initially thought. They both started off as shiny bright stars, but eventually turned into bottomless pits that suck everything good into them, even light.
Here's some food for thought; If they keep dangling the carrot just out of our reach, we might keep reaching for it. But what happens when the carrot keeps getting further away or they take a bite out of it. What will you do then?
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