Friday, November 2

Economic Austerity for the people vs money laundering to the rich



I just read this article by Julie Lévesque and felt like sharing because it answer some very important questions.
Where is the money? Read it.


Money Laundering and Offshore Fraud for the Rich, Economic Austerity for the Poor

By Julie Lévesque
Global Research, November 02, 2012
Excerpts:



"Offshore banking is the elephant in the global economic room which the political and financial elite is trying to hide from the public view. While imposing austerity measures on hard working citizens, they are well aware that astronomical amounts of money are secretly held in offshore banks, thus lost in taxes. Where is that money from? What is it for?

Drug cartels, fraud, tax evasion and money laundering are common answers to those questions. Despite this reality and even in this era of fiscal austerity, the question world leaders avoid is: why is secret banking still allowed? Are they capable of putting a term to it but unwilling to do it because of the benefits it provides? Clearly.

Every once in a while a robber baron will serve as a scapegoat to give a pale illusion of justice to the common man. Although they deserve to be penalized, the corrupt banking system which allowed them to operate remains inviolate and its flaws are never questioned. Offshore banking is not a parallel banking structure. It is at the heart of the banking system. All major banks have offshore subsidiaries."
(keep reading)

conclusion:
"F. William Engdahl warns that the same kind of “austerity measures paved the way to the III Reich” and insists that the banks are “the source of the problem”:
The EU governments have shied away from any resolute action on the banks involved in the dodgy lending in the first place during the financial bubble years. Those banks remain the source of the problem. There is no lending going on to the real economy, and that`s the root cause of the 25 per cent unemployment in Spain and Greece and elsewhere across the EU. Until that problem with the banks is addressed, we’re not going to see economic recovery. To treat it only as a sovereign debt crisis is grabbing the tale of the elephant and calling it a snake. (F. William Engdahl, Germany Enforces Same Austerity that Paved Way to 3rd Reich, October 30, 2012.)
With the recent images of the brutal Spanish police state in mind we have to wonder if following the corrupt banking industry diktats is a very ruinous ride on the highway to totalitarianism."


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