Thursday, 18 September 2008

Consolidation of the banking sector

Today, two of the biggest UK banks merged at what can only be viewed as a rather hurried deal, carried out over night. The deal allows Lloyds TSB to buy HBOS at a huge discounted rate. The UK government has shown who really controls the UK by sweeping aside the rules and regulations of the competition commission in order for this deal to go ahead.

Meanwhile, the FED has bailed out AIG, Fanny Mae, Freddy Mac and placed $110 billon dollars into the market in order to ‘stabilise things’. Leaving the poor American population with a debt that no generation will ever be able to repay.

Lehman brothers has gone bust and Morgan Stanley and other major banks follow close behind.

All this activity is nothing new; in 1929 it was the same story. Those in control manipulate the markets, banks fail and mergers take place in order to consolidate the banking sector even further.

The aim is to create ‘super’ banks. Banks will continue to merge until only a few remain on the planet.

Those in control will then have absolute power to set rates, withhold savings accounts, call in debts, set mortgage rates and control the population via the flow of money.

It could not have been more evident this morning when one of the financial blogs from the BBC carried this article with the title “New World Order”.

Things are moving fast, but the majority of people still sleeps un-aware that at the end of all this, a select few will have control of their finances and in effect their lives!


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