Wednesday, June 02, 2010
Keiser Report № 46: Social Fury builds up!
In the first half of his latest show, Huffington Post's Max Keiser wonders if the guillotines are coming, especially for those 'in charge' of the world's finances, in a major worldwide revolution.
But much better than that is the second half of the show (starting from 12:50 onwards), in which Mr K interviews Dr Joern Berninger, from Frankfurt, a.k.a. Dr B.
In this interview, Dr B claims that the major reason behind the recent Greek bailout by Germany was a back-door bailout of France, by Germany, because the French banking system is exposed to Greek government debt to the tune of €700 billion euros; if the Greeks had gone into an Argentinian-style default on May the 7th, then the French banking system would have collapsed in domino fashion, taking the French government with it.
So now we know why Merkel and Sarkozy looked so grim the other day. They might have sacrificed Greece in a heartbeat to save the euro, but if the price was France being kicked out of the euro too, then the whole 'Project' really would have been over (incidentally, along with Sarkozy's career, but I shouldn't say this, because disinterested politicians never consider their own personal futures when discussing high policy together).
Dr B also wonders whether the Chinese central bank is the absolute key player in this, on deciding whether to support the euro and the dollar (and I suppose, the pound).
So that's what it has come to, my friends.
We are now all ruled over by the Chinese communist party, proving that Karl Marx was right all along. Social Democracy really does equal Communism.