Poland – Zloty
Poland is legally obliged to switch its currency to the euro under the terms of its 2004 EU entry. Nonetheless, Poland has continually demurred amid the Eurozone’s financial woes and voter opposition to exterminating the zloty, its national currency. Killing the zloty will only bring massive inflation to Poland and serious harm its economy. Its national debt will be converted to Euros and therein will be the real crisis. The Euro has failed to benefit member states of the former Soviet possessions as well as Southern Europe.
Politicians are lawyers who know how to write laws and assume that is their dictatorial power and right. They do not understand the subject matter no less currency. In my own case, here is paragraph on page five of the criminal complaint. It illustrated that the government failed to understand currency then as they do today. Our notes were in Japanese yen not dollars. These people did all their calculations in dollars without comprehending the yen moved from 75 to 147 during that period between 1995 to 1998. Whatever came in in yen in 1995 that converted to say $1 million was repaid in yen plus the 4% with a dollar cost of about $500,000. They were totally lost in the stupidity of their own mind. This was the basis of their allegation that I manipulated the world economy and the Japanese yen because the Japanese refused to sign a criminal complaint when they were paid in whole in yen terms that they thought was 50% less in dollars and thus a fraud. So I obviously had to manipulate the world to make them “think” they made money. You just cannot make up this level of stupidity and then you have to try to explain to morons who are incapable to comprehending currency.
This is the same problem with Brussels right now. Everyone in Southern Europe converted their debts to Euro and then the Euro rose from 80 cents to $1.60. They blame Greece as if that government functions any different from the rest of governments. They cannot comprehend that whatever the Greek debt was in drachma since World War II suddenly doubled and they could not pay. Brussels is destroying the Greek economy and wiping out the next generation preventing even job formation. Now the Greek government, elected to leave the Euro, just does whatever Brussels says and is not outlawing paying for anything in cash with more than 70 euros. They are strip-mining their economy to support the bondholders.
The bankers sold throughout Eastern Europe Swiss loans telling everyone they would save interest without warning them there was a currency risk. All the people who listened to the bankers and borrowed in Swiss now owe 30% more. This is the same exact problem behind the Euro.
If you kill the zloty and adopt the Euro, you personal debts will change. Brussels is only looking for power to support their own careers. They have no concept what they have created, but if the Euro goes, there goes their jobs. This was to be a trade union – free trade. The assumption that a single currency will eliminate trade costs is absurd. It has converted a trade issue into the United States of Europe without a single culture or language. Now they want a European army to function under the power of Brussels.
Keep the zloty. Why should Poland lose everything as has Southern Europe. Our computer is also projecting the same timing targets of June/July and then September.
Voice Recognition Elevator
We will be launching Socrates shortly. It will be able to speak over the net, but trying to get the speech recognition through the net is the big problem.
We will continue to move forward on the proprietary tablet that will handle speech recognition hopefully better than this elevator.
Math Problem Solved – Child uses natural Political Logic
This is how a child solved a math problem. Clearly, this is a gifted child who could rise rapidly to lead some nation somewhere. We just have to figure out where.
A Joke from Poland
A joke in Poland illustrating their distrust of government is a dog walker takes three dogs for a walk. The American dog tells the Russian dog and Polish dog how great it is in democracy. All he has to do is bark and they give him meat. The Polish dog asks what is meat and the Russian dog asks what is barking. Of course, that may have been the America pre-1998.
Shotgun Wedding v Bailouts
QUESTION: Hello Martin,
Did banks receive government bailouts prior to Glass-Stegal being repealed?
If so, if they are forced to return to relationship banking, why can’t the big boys simply drop lending standards and keep bad loans on the books (with a nod and wink from congress), knowing they can strong arm politicians into another bailout, as they rely on campaign contributions?
Is it possible for your solution to work without all parts in place, I.e., both political contributions and transactional banking both being prohibited?
Thoughts?
ANSWER: For the most part banks were not bailed out by handing them piles of cash and leaving the same people in charge. There were often merged by being a forced sale to another bank. This trend of bailouts has emerged really starting in 1998 thanks to Robert Rubin, formerly of Goldman Sachs. Rubin orchestrated the bailout of Mexico to save the banks indirectly much like the bailout of Long-Term Capital Management hedge fund to also protect the banks.
Rubin worked very hard to repeal Glass Steagall, which was finally signed on November 12, 1999 after Rubin left office just in time in July after everything was set.The repeal in part of the Glass–Steagall Act of 1933, removed all barriers in the market among banking companies, securities companies and insurance companies that prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and an insurance company. This directly set the stage for the AIG crisis insuring Goldman’s products for the 2007 Crash. They orchestrated AIG to insure their products as AAA so they could compete in the REPO market with government securities. Goldman was an Investment Bank, and in the process to get the bailout cash they converted to a commercial bank without branch offices taking deposits from the public.
Even when Salomon Brothers was caught manipulating the US Treasury auctions in 1991, they were going to be shut down. It was after that manipulation that the bankers did the reverse take-over of government. So the type of bailouts of post-1999 did not take place before, They would sell a bank to another in a shot-gun wedding arrangement. There was never a pile of cash made available with the same management in place.
Amsterdam to Show the Film Again Tomorrow
The reaction in Europe to the film has been overwhelming for the audiences are more aware there is a serious problem that we face economically. In America, they are trying to suppress the film obviously to protect the banks and justice system. Outside the USA, reality is setting in and the USA only appears to be more like the old Soviet Union in suppressing what they do not want the people to see,
The film will now be show again in Amsterdam (May 17th, 2015) tomorrow