THE breathtaking cheek of the global banking sector is unfathomable.
First, they doctor the books of countries like Greece and Spain to make them look like worthy loan recipients, and once the doctoring of these countries accounts are made to look credible the global banks lend out huge amounts with crippling interest on top.
This is something that you would expect to hear from a backstreet money lenders and not from the global banking sector, and it shows us the sort of seedy levels that operate in.
And to make things worse, there is now talk of looting the bank accounts of individual bank account holders in Cyprus as a means of providing of collateral for yet more loans.
If this looting of people’s savings in Cyprus happens, it will send out an alarm call over Europe for people to withdraw their savings from their accounts because they are not safe. In economic terms ,this is called a run on the banks, and when this happens, economies will almost certainly collapse.
The banks have Cyprus all sewn up. There has been a freeze put on people accessing their personal savings already, and this is before the bankers’ proposals have even been accepted by the Cypriot Government, I would ask Bolton News readers to distrust the idea that the looting of there own personal accounts cant and wont happen in the UK.
There is a high likelihood that this very much could happen in the UK due to the fact that this pathetic coalition Government is making cuts to our services and are not paying off the country’s deficit, and is still borrowing from the banks, at levels much higher than the former New Labour bankers’ apologist Government.
Basically, your savings are not safe, and anyone who tells you that they are, is either a banker or a Coalition government minister.
Steve Jones Morris Green Bolton
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