Friday 2 September 2011

German Banking Superiority Is A Lie

More of this bizarre talk of German superiority in the press. This time Ben Chu from the Independent, in his article - "The Germans have yet to be told they face a momentous choice".

Regarding the Euro financial crisis, Ben says;

"Peter Bofinger, of the University of Würzburg, described the German mentality to me this week as, "we did everything right, others did everything wrong".....
And Germans do not like the suggestion that they could now be forced to pick up the bill for the mistakes of others. Philipp Rösler, the leader of the Free Democratic Party (a junior partner in the governing coalition) argued bluntly last month that his party will "not accept having German taxpayers pay for the debts of other countries."

All designed to gain support in the German electorate for savage economic domination and asset-stripping of other countries.

And of course, the very claims of economic superiority are a complete fabrication. German leaders defined the problem as an Anglo-Saxon one, and blamed America and Britain (all they have done is drop the claim that Anglo-American Capitalism is run by Jews. They still want to bring down Anglo-American capitalism).

As we have mentioned before, according to the Bank for International Settlements, Germany lent almost $1.5 trillion to Greece, Spain, Portugal, Ireland, and Italy. Add to that heavy German involvement in the credit binge in American real estate, and it is clear that wherever parties were taking place, German banks were supplying the drinks

German banks are two and a half times more leveraged than their US banking peers, according to the International Monetary Fund.
Some of them have pulled out of the banking stress-tests that the rest of europe has had to undertake, because they did not want the results to go public.

The article also says;

"A poll of Germans last month indicated that 71 per cent of the population are either partially or completely in the dark about the technical reasons behind the single currency crisis."

Yes. And its fairly obvious why.

Read this - Ignorance Or Propaganda?

Independent Article

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