[lbo-talk] Bank? matress? bank? matress?.....

Patrick Bond pbond at mail.ngo.za
Wed Apr 1 10:37:28 PDT 2009


Jordan Hayes wrote:
>> But does it say when?
> I don't think it does. So far, what typically happens is that when a
> bank ...

But Jordan, "a bank" is not what's coming down the pike. If they all go down together, repaying all the depositors with inflation-deflated $s - at some future date to be decided - would be in the US elites' self-interest, rather than increase taxes and redirecting surpluses to keep the masses' accounts relatively whole? Paul Erdman warned of this in one of his banking thrillers.

Y'all US comrades need some nightmare scenarios like that one, just to keep your minds fit and flexible, right?

Sorry, I've been living in Zimbabwe on and off for 20 years, so have seen it all. NO savings or insurance or pensions survived the last wicked devalorisation of overaccumulated financial capital, via the world's worst-ever hyperinflation. The state just dropped its currency in January, and - sad to say - adopted two others certain to crash soon 'nuff: the US$ and the South African rand. Some people never learn... (and their new finance minister is possibly the world's most leftwing!)



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