David Cameron calls for swift action to avert economic crisis, its too late for that, he must push for a Euro wide default, passed point of no return

Dear All

The Euro is for all intensive purposes on the brink of collapse.

We are heading into a double dip recession.

Banks are trading fraudulent selling in the derivatives market which has turned into a giant ponsi scheme backed by nothing.

Have a read:

http://www.larouchepub.com/other/2010/3740foreclosure_exposes_derivative_fraud.html

and:

http://www.creditwritedowns.com/2009/10/janet-tavakoli-on-fraud-derivatives-and-bankruptcy.html

The three industrial giants, America, Europe and China are waiting to see who falls first.

We are currently pumping money into a black hole to shore up a collapsing system.

And the question is when.

The solution by governments to the debt problem is short term; they want people and organisations to take on more debt, when they should be doing the opposition.

We cannot grow our way out of debt by taking on more debt.

Prime Minister David Cameron has recently warned that failure to act swiftly over Eurozone debts would "lengthen the shadows of uncertainty" looming over the global economy.

It is a stupid statement because behind the rhetoric there is no plan other than austerity.

The solution for countries is simply to default and not pay the banks.

Iceland done it and their economy is starting to grow.

Cameron made his call to action at the Canadian parliament by saying that indebted nations need to make tough decisions in order to repair their broken balance sheets.

Did he really say “their”?

It isn’t their problem, it’s the bank’s problem but politicians try to sell this as the country’s problem.

Cameron is looking for a fix to solve the Eurozone crisis and stop it deepening.

The solution is the entire Euro zone defaults at the same time and nationalises the money supply currently controlled by the banks.

Stop Quantitative easing (QE) dead which is asset stripping nations placing them in deeper into debt and limiting their ability to break free from debt.

Boldly David Cameron called on European nations to show they had the "political will" to "do what is necessary".

He said:

"One way or another, they have to find a fundamental and lasting solution to the heart of the problem - the high level of indebtedness in many Euro countries."

Cameron doesn’t have the "political will" to "do what is necessary", he is so impotent, and he hasn’t even banned the London Stock Exchange trading in fraudulent Derivatives.

Does he know that is going on?

If he doesn’t, how can he fix any problems?

In telling the Canadian parliament that banks had to be made strong, and lack of competitiveness challenged he misses the point.

Banks are strong; they are making money, weakening governments like Spain, France, America and Greece.

We will see continual hikes in oil and food prices caused not by demand by but by speculation.

Cameron’s only plan is to continually prop up the banks using taxpayers’ money which will lead to great austerity.

Recently we had riots, which rapidly went out of control; we will see riots again in Britain.

There is no political will to default the banks in Britain because politicians are in the pockets of bankers.

Why do you think the Greeks are out protesting?

It is because government isn’t listening to the people.

Default is the only way forward for the entire Euro Zone, all countries must default at the same time; then we can have stability in the bank system, once it has been fixed.

Yours sincerely

George Laird
The Campaign for Human Rights at Glasgow University