Friday, June 15, 2012

No more liquidity buffers for banks, citizens will pay all

Naked Capitalism reports that the demands of liquidity buffers for banks worldwide have been annihilated: now banks will be able to pretend that they have liquidity if they own a bunch of random volatile assets such as gold or equities (stocks). This gives wide margin for the banksters to extend and pretend, just as Bankia did with their worthless real state. 

But no problem (ahem!), now every private banking problem will be socialized to whole nations and continents and all Earth ultimately because our destinies and economies are all connected across the World, we like it or not. Citizens, now indistinct from slaves, will pay for all, governments will take care of that no matter what.

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