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Thursday, December 23, 2010

Britain pushing stock market Ponzi too

The United States is not the only nation desperately trying to steer its populace into putting all their life savings into the risky casino-like Ponzi scheme known as the stock market...

From the UK Telegraph-- Investors told forget savings accounts, think of shares: "Britain's 38 million savers have been urged to invest their money in the stock market after being warned that for many of them it is now a "waste of time" putting their cash into a savings account. The warning came after official figures indicated that the cost of living had increased once again in November, making it nearly impossible to earn a real rate of return on any bank or building society savings product."

It is the same situation across the pond in Great Britain as it is in the US- those in government in charge of finance have purposely destroyed the rate of return on savings in order to keep interest rates low to spur more borrowing and indebtedness.  So savings accounts and more secure venues to place one's money are getting pennies on the dollar in terms of interest rate of return based on 2-3years ago.  

The US, Britain and even Japan want as much money going into the stock market as possible so they don't have to subsidize it any further and that the banks & financials can have another revenue stream to cover the combined tens of Trillions of dollars in toxic debts they still secretly possess on their balance sheets but through accounting tricks and government encouragement to avoid panic & riots, are able to avoid disclosing.

The most horrid part is this.. the current ratio of Wall Street insiders selling to buying is 80 to 1.  In simple terms, Wall St itself nor the London Stock Exchange believes in this rally but are desperate for fresh money to push up their stagnant and falling positions

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