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World facing worst financial crisis since at least the 1930s 'if not ever', Bank of England Governor says

3
(I Stand By What I Said Whatever It Was)10/07/2011 5:20:08 am PDT

re: #1 freetoken

He does sound dramatic. Maybe it’s because the situation is dramatic, maybe because that’s how he sounds important and needed, maybe both, maybe something else.

Pretty much every national government today is committing financial fraud by issuing “easy” money. Bad debt to pay off bad debt, a global phenomenon of bad faith. If things get too tight in one corner, funds get transfered internationally, a merry-go-round of inflation: There is your interconnection – bad debt contagion. Average folk with small savings or people spending most of their earnings on basic stuff like food will food the bill. How long can it continue? How to get out of it? When do some big lenders stop lending and demand being payed back in full?