An interesting comment regarding Nationalization

[EmeraldCityGrl]

"I agree with you. What should be done?


I think it will come to some good old fashioned socialism and 'nationalizing' the entire banking system, taking it temporarily out of the hands of the private consortium known as the "Federal Reserve" until such time as credit can be issued by the government and failed banks bailed out and a default on all derivatives. This will demand similar steps by other countries and take the world banking system temporarily out of the hands of the private bankers who are extorting money. There isn't even 180 trillion dollars worth of money in the entire world economic system, so that ridiculous amount of debt can't be allowed ot stand. I know it will cause economic dislocations, but the super rich need to be stripped of their ability to hold the world hostage. If those super rich are in other countries, we need to issue national rules taking out, for now, this numbers game and just nationalizing everything until the means of lending and borrowing can be recapitalized. We may have to declare national bankruptcy, like what Argentina did and what other countries do when they can't pay the debts they owe. The amounts run up by the derivatives scam are ridiculous and the world economy can't pay for this nonsense. The world bankers need to be cut down to size by each country and the losses brought to a reasonable level or else written off and the rich who invested in these schemes in whatever countries, should have their holdings nationalized for the common good.

The Iraq War borrowing, along with profligate borrowing for 30 years caused a lot of this as well as the derivatives. Bush and the neocons and any Democrats involved in setting up this system ought to be put on trial.

I think it will come to something like this because the turmoil will continue, and the bailout won't be enough to fix anything. It will just go on and on until the governments of the world each step in and nationalize their part of the banking system and a new system be agreed upon among all the major and minor nations (good luck getting agreement on anything from all these players). But I don't see any other way to 'fix' this. Am I wrong?"



http://www.opednews.com/articles/The-Fleecing-of-America-by-Stephen-Lendman-081006-986.html