The Real Banking Crisis

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SailAway's picture
SailAway
Status: Gold Member (Offline)
Joined: Aug 11 2010
Posts: 404
The Real Banking Crisis

By Eric Sprott and David Baker

A must read for those holding money in the Eurozone:

http://www.gril.net/wp-content/uploads/2011/08/The-Real-Banking-Crisis.pdf

Travlin's picture
Travlin
Status: Diamond Member (Offline)
Joined: Apr 15 2010
Posts: 1322
Good article

Thanks SailAway for the good article.

Travlin 

Debra B's picture
Debra B
Status: Member (Offline)
Joined: Aug 18 2010
Posts: 12
Debt Crisis

Since it seems that almost all of the countries of the world are suffering from a huge debt crisis, can someone please tell me whom they owe the money to? Is most of this debt owed to the Federal Reserve/ banking cartel? And if so, why isn't anyone pointing this out?

rhare's picture
rhare
Status: Diamond Member (Offline)
Joined: Mar 30 2009
Posts: 1325
Who is owed the debt?

[quote=Debra B]

can someone please tell me whom they owe the money to?

[/quote]

This chart on Wikipedia seems to answer your question.  I suspect the bottom item "Fed and Intragovernmental holdings" has grown quite a bit since 2008.  The "intragovernmental holdings" is the SS "trust fund" - an accounting gimick.

To me this chart says the foreign governments who have lent us money so that we can buy stuff from their industries and SS/Medicare/Medicaid receipients are going to be screwed the most, followed by pensioners, retirees, and investors who think they have been very conservative.

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