‘EU banking system corrupt, flawed’

Press TV has conducted an interview with Professor Rodney Shakespeare to further discuss the significant advantages of binary economics on the EU financial crisis.

The following is a transcription of the interview.

Press TV: Weren’t austerity measures enforced by the IMF/EU on countries who wanted loans to pay off their debt meant to help the situation not bring in 10.8 percent unemployment?

Shakespeare: These loans are making the levels of debt worse and they are not addressing the fundamental situation, which the system is flawed.

The people in Europe must rise and revolt or they are going to be eviscerated and will be wage slaves if they’re lucky, or just be in horrible poverty for the rest of their lives.

On top of which, national sovereignty is lost and all the assets of the country are being ripped off at bargain prices by the hyenas and the jackals.

The people in Europe – I mean take the young people in Spain: 50 percent, and those who are on alleged employment, are on temporary jobs and insecure jobs. The government figures are totally false.

The people of Europe must revolt and they must fan up with one simple cry: we demand national bank, interest-free loans for public capital projects, for environmental capital projects, or for clean electricity generation. Let that be the first of their cries.

They must demand it or they are finished. The situation is going down, it’s just getting worse.

Nothing coming from these governments is going to do anything else except hand over more assets to the one percent and hand over more control to the global banks and the financial elite.

Now is the time for a revolt!

Press TV: You may have answered this to a certain extent, is there a solution to this entire financial crisis in Europe which doesn’t involve cutting spending, leading to the collapse of business confidence and, therefore, heightened unemployment?

Shakespeare: There is no solution in the policies coming from the governments which have the effect of instituting permanently the power of the banks, the jackals and the hyenas.

There is a solution in which you control the existing banking system by making sure that it has a move towards 100 percent banking reserves, and then you open up a new interest-free supply aimed totally at the real economy and its spreading to everybody. Do that and you can get a balanced market economy in which producers and consumers are the same people.

As it is, all they’re doing is handing over all the assets to a selfish, smug, complacent, elite concerned, which is now battening on its own countries. It’s no longer just battening on empires and countries abroad; it’s riding now on its domestic populations. It’s on top and it’s going to control them and suck up the wealth forever more.

So, there is a solution. Open up those national bank, interest-free loan supplies for the real economy and its spreading to every single individual.

GMA/JR

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