http://www.bloomberg.com/apps/news?pid=20601109&sid=a30KHZKX1WJo&pos=15
Economic warfare.
Clearly, the EU and its constituent municipal parts, are engaged in battle. But with whom? The taxpayers versus “fat cats” who lost control over management, who sold weapons of mass financial destruction? I know who will win, but in the meantime, capitalism is in doubt.
Those who lost control will lose billions. They were stupid and did not understand the potential of derivatives. Ultimately all laws, enforcing private property, are backed by force. Bankers who break the rules will be faced by bankers who could understand what was happeneing and who controlled their capital.
This group may even have invented derivatives …….. they will be operating through state structures and will annihilate those who left control to managers who may change sides. Individuals do not matter, for the bulk of us, we will have to muddle through until it is all sorted out.
Any one agree?
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