Central banks ready to rescue Global Economy after Sunday's Greek vote

Economic Collapse Update 061512

Blogman's Notes: The Major Central Banks of the World (the Fed, ECB, BOJ, BOE and a few others) are reported to be preparing their big guns over the Greek Parliamentary Elections on Sunday; but if the past 4 years are any indication of what is to come, all they will be firing will be blanks. Central Banks are not the solution, Central Banks are the problem - when will people wake up and realize that? Had the Central Banks been doing their jobs on behalf of the people that they claim to serve, there would have been no Financial Crisis in the first place! And all their proposed solutions since 2007 have only led to the crisis getting bigger not to the crisis being resolved. 2007-2008 all we had was corporate and banking failures; now whole nations (PIIGS), and regions (Eurozone) are under the gun, the gun of the Central Bankers, that is! Here's a quote from the Reuters report linked above: "Officials from the G20 nations, whose leaders are meeting in Mexico next week, say numerous central banks are preparing to take steps to stabilize financial markets - if needed - by providing liquidity and prevent any credit squeeze." This is a broken record that keeps playing the same tune over and over and over again... How many meetings have the G-7, G-8, G-20, the IMF, the EU, the Fed, and other organizations had in the past 5 years - 10, 20, a 100? How many times have they announced coordinated decisive actions to finally resolve this Great Financial Crisis? And how successful have they been? Depending on the viewpoint, either the Central Banks and other authorities have been miserable failures or they have been wildly successful!

 I would argue that Central Banks have been wildly successful at their mandate if we understand that their job is to redistribute wealth within nations, and within the world. Their real purpose is to make the rich (the .1%) even richer and make everyone else poor. The historical norm of the Feudal model with a very few Haves and a majority of Have-Nots is the ideal that the Ruling class is shooting for; so the guns that the Central Banks have readied for Sunday's Greek vote are in reality WMD's for the Middle Classes of the whole world. Just the other day a report came out that proved that the American Middle Class had lost 40% of their wealth since the Great Financial Crisis began in 2007, so the Central Bankers have already achieved a great deal of success in their mission. Now as they take down Greece, and Spain, and Italy and eventually the US and the rest of the world, look for the remaining 60% of Middle Class wealth to get vaporized by the big guns of the Central Bankers. By the way, I believe this Greek vote will be a non-issue; the pro-bailout party will win unless the PTB have decided that it is time to pull the plug on the Global Economy. I do not think that time is just yet; a few bigger fish like Spain, Italy, and India must be fried first before we get to that day. However that doesn't mean that that day is years away; it is more than likely that it is only months away!

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• Central banks reach for their guns over Greek vote | Reuters

(Reuters) - Central banks from Tokyo to London checked their ammunition on Friday in preparation for any turmoil from Greece's election, with the European Central Bank hinting at an interest rate cut and Britain set to open its coffers.

ECB President Mario Draghi said his bank was ready to step in and fund any viable euro zone bank that gets in trouble, and painted a picture of a deteriorating economy with no inflation danger -- conditions for monetary easing."There are serious downside risks here," Draghi told the annual ECB Watchers conference in Frankfurt, two days before a Greek vote that could set Athens on a path out of the euro zone and stoke turmoil in financial markets."This risk has to do mostly with the heightened uncertainty."
Japan's top financial diplomat Takehiko Nakao warned that authorities in Tokyo would respond to unwelcome currency moves as appropriate, a clear threat of intervention if investors seeking safety push the yen too high.
The Bank of England followed up on Thursday's joint announcement with the government of a 100 billion pound ($155 billion) offer of loans to banks by saying it will start next week with a charge of just 0.75 percent.
Officials from the G20 nations, whose leaders are meeting in Mexico next week, say numerous central banks are preparing to take steps to stabilize financial markets - if needed - by providing liquidity and prevent any credit squeeze.

Read More: Central banks reach for their guns over Greek vote | Reuters