Cause and Effect, part 3

Yesterday I received an e-mail from my friend in Holland . Previously I had said that I would like somebody to elucidate. And while I’m not sure that he has done that totally, he has certainly given me yet another slant on the whole sorry business. It is interesting that a quiet and charming, very conservative man, living in a very conservative country, can suddenly have this level revulsion.

This is part of what Jan wrote
It is amazing what is happening at this moment. All the money is simply evaporating, just like boiling water. It disappears but then it returns very slowly to condense in other places. I think that especially the small investors, who wanted to increase their profit a bit because the interest does not compensate for the amount of taxes they have to pay, will be the losers.

Who will be the great winners? One day the buying will exceed the selling, the rates will rise and the grabbing by the very wealthy will start. Money makes money. Also a number of Banks will pull off a big stroke of business, leaving pension funds and small investors with their losses.

In an interview on TV we were told that all the bonuses which were given to the presidents of Banks, companies and concerns in the USA in 2007, were equal to the amount of the 37000 Human help organisations, that are giving their assistance in Africa. That must be many billions.

I don’t know what will happen. For the first time in many years the price of houses is going down, and inflation is rising up to 5%. Why do so many banks become bankrupt? This could be the moment to hide earlier terrible losses or fraud? In time we will learn. We hear alarming messages about the Fortis Bank which I wrote to you about. This Bank is now nationalised.

My final comment
What I’ve found disgusting about this whole business is that once again it is the poor and the innocent who are being made to pay for their naiveté, when what we are really discussing is a form of theft, where those with no shares, very little income, will be taxed, even if, at the end of the day, they have any incomes to tax, to pay for this enormous bill that even the financiers can’t grasp properly. Our governments across the world have let us down, have kowtowed to wealth, instead of being critical of how it was achieved. What worries me is that the new cycle of buying and selling has already started.

Categorized as General

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