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France Faces Credit Downgrade
- France should've remembered what Napoleon told them many years ago.......
''When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes… Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.''
~Napoleon Bonaparte, Emperor of France, 1815
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[font size=4]S&P Downgrades France And Italy As Investors Avoid Eurozone[/font]
By Bonnie Kavoussi
January 13, 2012
Standard & Poor’s Ratings Services slashed the credit ratings of nine eurozone countries on Friday, marking a deterioration in confidence in the troubled eurozone.
S&P stripped France and Austria of their gold-plated AAA ratings, downgrading them to AA+, and downgraded Italy and Spain two notches to BBB+ and A, respectively. It also downgraded Portugal and Cyprus to junk, or non-investment grade, ratings: BB and BB+ respectively. Slovenia was downgraded to A+ from AA-, Slovakia was downgraded to A from A+ and Malta was downgraded to A- from A.
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...of the financial sector. As a principle founder of the Bank of England, (the birthplace of this iteration of the disease), said from the outset:
“The bank hath benefit of interest on all moneys which it creates out of nothing.” William Paterson, 1694.
Capitalism is at odds with nature's principle of symbiosity. It is the opposite of symbiosity. At its core it is vacuous consumption, for its own sake.
- And Nature abhors a vacuum.......
