Peter's Viewpoint

Interesting how a simple search on the Internet can bring an analysis of one of today’s most vivid problems that began sometime back in the 80’s.

Like a weapon with delayed timing, the financial markets of countries around the world are now seeing their economies collapse and are realizing that banks and bankers are to blame.

Once upon a time, banks were simple institutions that were created to safeguard and protect our hard earned money but as time went on investment firms grew from banks and they both collaborated to become the greedy insatiable monster that is causing economies of the world to fail.

Napoleon Bonaparte of France in 1815 once said, “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.”

If you have not been following the world financial situation then you are going to be shocked at how much you will be paying soon for the combination of greed and corruption that started as unscrupulous investments being used by countries and companies world wide.

Like rolling a snowball down a hill and watching it gather speed and size, we now see the snowball uncontrollably uprooting of businesses and governments causing havoc.

The biggest failing is the moral responsibility that does not exist.  This is evident even after banks have received bail out money and continue their offering loans to participants that are unable to repay those loans.  These practices including that of bonus schemes to promote the same services that created the financial mess.

Countries and businesses involved in these schemes have borrowed beyond their means to repay and those involved are blatantly helped legally by the law after declaring their companies bankrupt.  As they have gone above the law, there is only one solution to at least punish those responsible, the segregation of individuals in any of the countries involved for the immediate confiscation of their bank accounts anywhere in the world.  This of course may require actions by countries upon those countries that provide hidden accounts under outdated and irrelevant bank secrecy laws but this can be used as the basis to eliminate these accounts and banks.

The punishment of these individuals should also be extended to prior years and to prior and current country heads of state until proven otherwise.

Who will pay for these so-called money management mistakes, the people of the world, you and I unless decisions are taken for immediate action.

If you are not part of the solution, then you are part of the problem, there is no middle ground on these issues.