Sunday, November 15, 2009

Turning into Zimbabwe

A new (old) model of the largest heist in history

As Pytel predicted on his blog long time another liquidity crunch happened again. This time it went almost unreported. RBS got £26 bn from the government and BoE extended QE another £25bn. Pytel has been warning that the financial system is turning into loansharks’ business model. The banks are loansharks and taxpayers are their victims. Whatever they pay the banks their debt will increase and the banks will come back for more.

Posted by ant @ 12:28 PM (720 views)
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