Banks always are bailed out by the government or the Fed and in Europe’s case, the equivalent of the Fed, the European Central Bank (ECB). The ECB is who is keeping Portugal’s banks afloat. But it’s also the IMF who likes to stick their greedy fingers into the pie, just as they have in many other countries, like Jamaica for example, where they create slaves of the citizens via their labor in repayment of what is owed to them.
Iceland voters recently just said no to repaying $5 billion of debt to Great Britain and the Netherlands. The IMF had loaned Iceland 2.3 billion in November, 2010 and said that repaying Great Britain and the Dutch was a prerequisite of the loan. You see what the IMF did? They want to hold the citizens of Iceland slave to them. But why should the citizens of Iceland pay their future wages to the IMF when it was the banks who were responsible to begin with, in particular the Icelandic Internet bank?
The collusion between the banks, government, IMF and the central banks is what enslaves us all. In the end, you are the one’s who pay for their mistakes and spending madness. You pay for it out of future taxes on your income or you pay for it out of inflation of the currency and an ever decreasing purchasing power of it.
Either way you pay.
This article was written for Seeking Alpha and is continued here: http://seekingalpha.com/article/260130-fight-government-policy-by-hoarding-gold-and-silver for some reason they changed title.
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About Doug EberhardtDoug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534
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