Surprise! Pumping billions of $ in the banking system does not cure the system. The banksters have created a huge amount of virtual money by increasing the hypothetical value of real goods (housing) and virtual “banking products”. The only way out is really to kill the virtual money and hit the financial speculators and not the public. In good old days during the Great Crash 1873 private banks really printed their money. This had the advantage that the owner of the money and the issuer could be identified easily. Today the banksters have created asocial networks where nobody can be blamed for wrongdoing. The idea that a “bad bank” should buy all the virtual money with real taxpayer money is not really a good idea. It would reward the banksters and the financial speculators which have made fortunes in the past by creating the current financial crisis. A study in Germany showed that during the time period between 2002 and 2008 90% of the population have experienced reduced real income and lost money on their savings and assets. However, the richest 10% of the population have significantly increased their income and their assets. The situation in the US may be even worse. A good solution could be a “Intelligent Bank” which buys virtual assets for e.g. 10% of its nominal value for a limited time e.g. 1 year.Thus banks would be forced to reevaluate their virtual assets and sort out the “banking products” which have real value. Huge amounts of public money would be needed to kill the “virtual assets”. However, the amount would be much lower than what would be needed to maintain the current system in the future.
How to kill the virtual money?
January 29, 2009 · Leave a Comment
Categories: American Life · European Life
Tagged: asocial network, Banking, banksters, crisis, intelligent bank, virtual assets, virtual money
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