“Crisis legislation and dodgy debt repayment schemes (Promissory Notes to Government Bonds)” – Global Research
Austerity is a sham. Debt is economics for the ‘little people’. If the people produce the wealth then why are they always poor and/or paying back debts? Because the national and international wealthy lend us back the money (with interest) they have taken out of society in the form of profits to fill in the gap they created in the first place. Thus we are triply exploited: We are taxed on wages, alienated from wealth created (profits) and we pay interest on the money borrowed from the wealthy to pay for the capital and current expenditure needed for the maintenance of society. When there is an economic crisis caused by this constant draining of the wealth from the economy, the ‘experts’ then debate the best way to impose cutbacks to get us back on to ‘the road to recovery’. This would be funny if so many people were not caught up in the sea of unemployment and subsistence living. Furthermore, any rejection of these ‘debts’ will not be countenanced by the elites who oversee the ‘debt repayments’ by the ‘little people’.
If one form of debt repayment (promissory notes) is seen to be dodgy and possibly unsustainable (due to legalities or public repugnance) then legislation is rushed in overnight to convert the ‘debt’ in to a more acceptable form – the government bond. That was the situation this week in Dublin. How did this come about?...
