Bankers never lie

lloyd-blankfein

Here is how the European Commission justifies mass privatization…

… privatization of public companies contributes to the reduction of public debt, as well as to the reduction of subsidies, other transfers or state guarantees to state-owned enterprises. It also has the potential of increasing the efficiency of companies and, by extension, the competitiveness of the economy as a whole, while attracting foreign direct investment.

This definition is truthful and correct.

I’ll show you…

[1] … privatization of public companies contributes to the reduction of public debt

TRUE (but only in a temporary sense). Since the politicians of euro-zone nations surrendered their government’s monetary sovereignty to the banker thieves, their governments can long longer create money out of thin air. Instead, if a euro-zone nation has a trade deficit, then that nation must borrow all its money. If the nation cannot pay back its loans in euros, the nation must pay it in the form of public assets. That is, the nation must privatize. The beauty of this scam is that the amount of money obtained by selling public assets (if any) is always a tiny fraction of the nation’s debt obligations. So the more they privatize, the more they must sell off. When they privatize, they reduce the nation’s debt, only to have it rebound larger than ever. Meanwhile average citizens fall further and further into poverty.

[2] … privatization of public companies contributes to the reduction of public debt, as well as to the reduction of subsidies 

TRUE… theoretically. When a pubic asset is given to the rich, the government no longer needs to subsidize it… theoretically. In reality what happens is that the government ends up subsidizing it one way or another. For example, when municipal politicians sell off their city’s parking meters, city taxpayers must still pay for the police to check the meters, and to cite violators. When a government sells off its prisons, taxpayers must still pay for inmate lawsuits.

[3] Privatization also has the potential of increasing the efficiency of companies…

TRUE. Efficiency” means a plummeting of wages to minimum wage or lower. You don’t like it? There’s the door. Meanwhile profits skyrocket for the owners.

[4] Privatization also has the potential of increasing the efficiency of companies and, by extension, the competitiveness of the economy as a whole, while attracting foreign direct investment.

TRUE. The “competitiveness of the economy as a whole” means that everything is reduced to low-wage sweatshops. This allows sweatshop owners to become more competitive; i.e. to under-bid countries that are not based on sweatshops. As a result, all workers worldwide are sucked into the global “race to the bottom,” meaning the endless quest for lower wages, less regulation, more freedom to steal, defraud, and pollute, and so on.

[5] Privatization also has the potential of increasing the efficiency of companies and, by extension, the competitiveness of the economy as a whole, while attracting foreign direct investment.

TRUE. “Foreign direct investment” is the thieves who take possession of public assets for a tiny fraction of their market value, and then proceed to suck the host nation’s blood like vampires.

As you can see, the money masters never lie. In fact, most of their claims are quite truthful…

[1] Austerity brings prosperity.

TRUE. It’s just that the prosperity goes to the rich at the expense of the rest.

[2] Privatization generates badly needed revenue.

TRUE: It’s just that the revenue goes to the rich at the expense of the rest.

[3] Austerity brings efficiency.

TRUE. It’s just that efficiency means inequality.

The ultimate blame for all this lies not in the thieves, but in people who worship the thieves — e.g. the 10.9 million Greeks who cling to the euro no matter what.

Quite literally they would rather die than cease paying the bankers.

lloyd-blankfein2

 

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One thought on “Bankers never lie

  1. This whole ‘Eurozone debt crisis’ is contrived. The ECB could simply fund deficit spending by creating money out of thin air, without forcing countries to borrow. But of course they would rather uphold the lie of countries needing to tax/borrow etc.

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