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26 July, 2011

500 Million Debt-Serfs: The European Union Is a Neo-Feudal Kleptocracy

charles hugh smith-500 Million Debt-Serfs: The European Union Is a Neo-Feudal Kleptocracy: "The banks of Europe are the new Feudal Manors and Masters. All Europeans now serve them as debt-serfs in one way or another.

If we knock down all the flimsy screens of artifice and obscuring complexity, what we see in Europe is a continent of debt-serfs, indentured to the banks under the whip of the European Union and its secular religion, the euro.

I know this isn't the pretty picture presented by the EU Overlords, of a prosperity built not just on debt, but on resolving the problem of debt with more debt, but it is the reality behind the eurozone's phony facade of economic 'freedom.'

What else can we call the stark domination of the big banks other than Neo-Feudalism? In one way or another, every one of the 27-member nations' citizens are indentured to the big international banks at risk in Europe, most of which are based in Europe..."

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