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Thursday, April 10, 2008
Today, the Bank of England and the European Central Bank make their interest rate decisions. The speculation is England will cut -- and the ECB will not. Stephen Beard tells us why.
interest rates paper (www.mtgfoundation.com)
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"We tend to forget that debt is another form of slavery. So, they are selling our debt to others? Hmmm, what happens if we can't pay? Hmmm, our credibility starts to wane. Why the heck, if we are to be seen as leaders in this vast world, would another country listen to us? Get ready people -- the beastly game is in full effect. Remember how back in the day, the mob would extend debt to those who couldn't get it? Remember? What happens if that person couldn't pay up? Good luck, Fannie and Freddie! . . . "
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