Panic in the New World Order

There are not many of them. In his book, Superclass, author David Rothkopf estimates that there are only about 6000 people at the top of the pyramid of world power and influence. They are mostly males, and at least a third of them have attended America's most prestigious universities. Most of the others have attended comparable universities in Europe.

Today, the entire banking system of Europe is at risk. The banks are highly leveraged, and they have made enormous investments at low-interest rates in bonds issued by governments that are technically insolvent.
There is no possibility that any of these bonds will ever be repaid. They were never designed to be repaid. They were designed to keep the taxpayers of all European countries in permanent bondage to the banking system.

So, on the one hand, investors have to pony up the money to lend to the governments, and the governments need the money to recapitalize the banks in their own borders. This leads to the next problem: in order for the lenders to lend money to a government, they have to write checks on their bank accounts. What happens if their banks should go under? Who will lend money to the governments?
First, there is a day of reckoning in the PIIGS countries, when depositors withdraw funds. The second day of reckoning is going to be imposed by the insolvent governments who have been borrowing hundreds of billions of euros from the banks......the system is stretched to the limits....

The politicians have always understood that the central bank would bail them out of their crisis, merely by creating new money and buying the IOUs of the government...

                .............. Lew  Rockwell