The chart below tells us two things straight away, Estonia needs more debt piled on and Britain hasn’t long to go before taking the proverbial dive. Taxpayers are on the hook as in other parts of the union but when the City of London banks start to feel a blowback for their role in counterfeiting quadrillions in derivatives, it’s a tossup.
Yesterday’s excellent article at The Slog covered the 2009 Greek debt manipulation, which was inflated to scare the hell out of the Euro partners to pony up for a bailout that guaranteed German and French bank survival over all others. Everything from there on, which MSM reported as though describing shocking accidents had a measure of truth ironically. The GAAP, generally accepted accounting hanky panky cleared the decks to go a plundering but the initial German/Greek Submarine to Missiles purchase, to which Spain is also intriguingly tied, threw a wrench in the works.
They all knew the Euro numbers were phoney to begin with but the Merkel/Schauble caper made them even phonier and well laid plans went well out of whack. Subtract the cost of French and German armaments sold to Greece in the past forty months and their debt is slashed well below Finland’s. Do you get a feel for what’s at work here? When the domino falls, Re-Insurance sends the global players back to London.
In the event of total financial collapse, which now looks inevitable, UK taxpayers are theoretically on the hook for the lot but not to worry. It’s a Jubilee year, Her Majesty has the obligation according to custom to clear everyone’s debt with the stroke of a pen using discretionary rules set down through the ages! Apparatchiks in Brussels are counting on the average Englishman’s ignorance, they’d like to make him believe his sovereignty the monarch holds in trust for him was superseded by superior EU edict.
How could anyone hope to get away with such audacious mendacity if they didn’t have a follow-up plan to cover their tracks when this giga-fraud reaches conclusion? They do, observe the RBS/NatWest glitch that gave them £73 billion liquidity and it forms a clear picture of things to come. MI5 is warning of further cyber attacks to stir up a plausible scenario whereby they deflect public fury by pretending there’s yet another unseen enemy they’ll fight tooth and nail. Bet they’ll propose we go cashless next!
As one old Statistics professor used to say; “When you get to where you’re going, there you are!”