Portugal bail-out approaching – http://video.ft.com/v/809887945001/Portugal-resists-help
Yet again the magic figure being quoted for an international loan is 7%, this time for Portugal. It makes no difference which country is involved, it appears. Ireland, Greece and now Portugal are all priced at 7% when it comes to IMF and other loans. Bail-out costing 7% per annum is the universal figure, which no doubt will be applied eventually to countries like Britain when our turn comes to be bailed, and even the USA, if the Fed keeps on issuing new money to prop up asset markets.
Once government debt for a particular country is priced at over 7% by the markets, the bail-outs come along thick and fast and reduce the cost to 7%. Longterm debt slavery is guaranteed for all. It seems as if market players are aware that this is the key figure, as they gradually trade up to it when they know a bail-out will be needed.
There may or may not be a One World Government, but there is a One World Bail-Out Rate, coming from somewhere in a totally structured and orderly fashion. It’s a cartel operation, of course. Like oil, chemicals and pharmaceuticals, the rates of all primary commodities are set worldwide by agreement, including the cost of money. Now try and argue that we live in democratic nation states!
Open Europe 3rd March 2011 –
Merkel to resist Irish bailout renegotiationFollowing a meeting with the Portuguese Prime Minister Jose Socrates, German Chancellor Angela Merkel insisted that it was not possible to “artificially lower” the interest rates charged to the Irish State on its bailout deal. “We can’t get to a point where Ireland pays lower interest rates than Portugal,” she added.