Why the euro bailout is the biggest Ponzi scheme ever

Norman Lamont
Daily Mail

October 12, 2011

Merkel and Sarkozy failed to announce details of their programme. But if reports are correct, one plan is for Europe to use some highly dubious financial wizardry to increase the amount it can borrow — injecting toxic assets directly into the bloodstream of the European financial system as it does so.

The latest idea is to get the European Central Bank (ECB) to lend up to five times the €440 billion of the bailout fund, taking the total available to more than two trillion euros. 

Why would Europe’s leaders do it this way, rather than demanding higher contributions to a bailout fund from individual countries? Because if this new huge bailout is done through the ECB, they won’t have to go back to their national parliaments.

Mrs Merkel has already been to the Bundestag twice to appeal for money to rescue the euro. She is unlikely to want to go a third time, particularly as increasing numbers of Germans feel they made a historic error in giving up the Deutschmark to subsidise less efficient countries in the south.

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3 Responses to “Why the euro bailout is the biggest Ponzi scheme ever”

  1. SUMSRENT SAYS:

    Guardian…

    I really expected you to take the typical banker view on the Zionist issue.

    In fact… I don’t recall anyone actually taking the religious side. This really exposes how naive you are.

    Let me ask you… show me one place outside Israel where the Jews are forcing their religion upon anyone else in the world? In fact… Judaism is so low on the totem pole of religions most don’t even discuss it.

    —————————————————————————————————–

    The Totem Pole you are talking about SUMS is the media.

    Judaism is Marxism. It is being discussed everyday.

    When have the Jews forced their religion on others? How many time have U.S. soldiers been forced to go to war and die for Israel and the Jews?

    The talmud tells Jews to take the wealth of the Gentiles by whatever means they can…that explains the Jewish Bankers. Non Jews do not believe that. Yet Jewish Bankers impose it on them.

    60,000,000 Christians were killed in Russia because they said “No. ” to Judaism/Marxism.

  2. And we just let that happen…

  3. That’s not completely true, German’s have benefited greatly from the artificially low exchange rate. Plus they lent to Greece and got money back in exports. The whole world is one big scam. That’s not having a go at Germany specifically, but the system is a scam.
    Finances of the Afghanistan war are a joke.

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