Europe Offers $957 Billion in Hope of Appeasing the Banks

Things are moving fast now..

Europe Offers $957 Billion in Hope of Appeasing the Banks
http://jessescrossroadscafe.blogspot.com/2010/05/europe-offers-957-billion-in-hope-of.html

The US SP futures are soaring almost 30 points, along with world equity markets, as the Europeans join the Americans in agreeing to monetize their debts by expanding their currencies. Make no mistake, no matter how they wrap this package and call it debt, it is the expansion of the money supply to prevent insolvency.

This does not cure the problems which remain, but rather provides time and latitude for the politicians to act. Discussion should begin at the IMF meeting on May 11, although this is unlikely to render any practical discussion of financial reforms, other than further debauching of the savings of the nations and their peoples.

These are dark days indeed that bring a false dawn that will quickly prove to be simply insubstantial.

The bribe has been given. Now there is the real work of reform and justice yet to be done. But will it be deferred and diluted in Europe as has been done in America.

http://jessescrossroadscafe.blogspot.com/2010/05/europe-offers-957-billion-in-hope-of.html">more...

Now the banks have the investment arms capable of holding up the rest of the world to make the banks whole or let the entire system fail. What a scam.