Sunday, November 15, 2009
Turning into Zimbabwe
As Pytel predicted on his blog long time another liquidity crunch happened again. This time it went almost unreported. RBS got Â£26 bn from the government and BoE extended QE another Â£25bn. Pytel has been warning that the financial system is turning into loansharksâ€™ 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.