Ben Davies explains the latest news from the ECB, which has announced yet another new bazookoid plan to bend around its rules on buying sovereign bonds, to help kick the EU’s financial can down the road for a few months, weeks, or days, via a process Davies describes as ‘qualitative easing’:
As a Menshevik Austrian, rather than a Bolshevik Austrian, Davies also soft-soaps the need for European governments to bail out their banks to prevent mob riots on the streets.
As a Bolshevik Austrian myself, it’s interesting though unpersuasive to hear this line of placatory thinking.
Davies also points out the ‘patriotism’ being used by various governments to advertise their bonds to their captive debt-slave populations, and notes how this ‘patriotism’ may soon turn to ‘conscription’ when your government orders its controlled pension funds to soak up their bonds in further measures of financial repression.
Yes, the mob is never your friend.
Its only concern is always itself, vis-à-vis the salaries, pensions, and welfare benefits of its government soldiers and gang members, never your long-term well-being.
