Posted on August 23, 2012

This piece seems to back up Neil’s claim in his response to “Blankfein.”

http://www.businessinsider.com/no-one-is-even-talking-about-the-fundamental-problem-in-europe-2012-8

Neil wrote: “What we must all realize, though, is that the BIS, IMF and the WORLD BANK are all one and the same: all Globalists. Upon being appointed to the Head of the IMF, Christine Legarde did come forth and put a stop to the laundering of funds within the IMF, so the mirroring of Global Accounts has stopped there.”

Raúl Ilargi Meijer wrote: “A rise based on expectations of other Eurozone nations, notably Germany, basically putting up the health of their own economies as collateral to inspire confidence in ECB sovereign bond purchases.  Now, you can play this game for a while, no reason to doubt that. But I would personally think we’ve finished playing out that particular “while” a long time ago and running. Whatever remains now is but a wager. As in: the entire Eurozone has turned into a casino.

They’re both saying something very similar in concept.

Neil wrote:  “On the other hand, Europe needs the money so badly that in most cases they are afraid to ask such a tough question—and they take the illegal funds! Well, the funds have been shut off, and if the BIS allows them to continue to mirror the Accounts, we will come after them.”

Raúl Ilargi Meijer wrote:  “In the case of Europe, the EU’s national governments, Germany’s first of all, refuse to tackle the debt issue, when it comes to Italy and Spain, because it would threaten their own respective banks.”

The “Lame Stream Media” has become acutely aware of what is going on—how the overlords are intimidating helpless nations with their fraud and theft.

Neil wrote:  “You have used illegal funds, and you have paid Debt with illegal funds. The Global Accounts are filled with your phony Euro Notes that you use to pay off the Leased Gold.  Yes, Lloyd, we have many of them, and what would you do if we were to walk into Draghi tomorrow and claim they be validated? What would happen to your show? It would simply shut down—unless you actually found a few shekels to pay them off.  Then again if you pay off a couple of Euros, you would have to pay off the Trillions of Euros you printed to pay your debt.

Raúl Ilargi Meijer wrote:  “The latest line is that they do it to “stabilize the currency”. Which is fine in itself, or so I guess, only we would like to know how long they would plan to stabilize it for (two weeks doesn’t seem to cut it). And that issue is not addressed.  Ever.  Hence, we are left to conclude that there is no effort to deal with the debt, there’s not even an attempt to do it. Mario Draghi is merely trying to lift a corner of the magic flying finance carpet, so Spain can be allowed to sweep its true debt burden under it, out of our sight.  And a carpet can hide quite a bit of dead dust for quite some time, as you know if you’ve ever tried the approach. The thing about debt, though, is that it’s not dead dust.  Debt lives. It’s alive. It’s almost organic. Debt festers and ferments under that carpet, it requires interest and principal payments, and it grows if these payments are not made.”

“… no effort to deal with the debt.”  These people understand that the money is coming from somewhere and it isn’t from the economies of the countries attempting to enforce the European Union’s agenda.  It’s coming from “thin air” –Neil exposes them that they’re issuing money based on “mirror accounts” (I’m told an invention of Henry Kissinger) that associates their worthless fiat currency with accounts (Global Accounts) backed by GOLD they don’t own!

So, friends, can you see how it’s all coming together now?  This article was published in the Business Insider. After 19 months and as many “plans” that never produced the “Big Bazooka,” who do YOU think wealthy investors are listening to now? From the obvious signs that investors are taking their money OUT of the equity markets and stuffing it all in commodities, I would think they’re listening to the likes of Neil and Raúl. Wouldn’t you agree? 

Again, my thanks to M!

Hugs,
~Jean

PS – A simplistic explanation of how Mirror Accounting works:

Mirror accounting is used in European countries that require changes in inventory to be immediately reflected in the income statement. With mirror tables, you can combine the creation of balance sheet inventory entries with the creation of related entries to income statement accounts by associating a pair of source accounts with a pair of mirror accounts.

Mirror accounting only applies to inventory (IC) transactions. Whenever an inventory transaction creates a general ledger (GL) entry for a specified combination of source accounts, the system automatically creates GL entries
to the related mirror accounts:

Debit Source Account 1
Credit Source Account 2

Credit Mirror Account 1
Debit Mirror Account 2

Here’s how it works: You check out “a fund’s holdings,” moves and performance on a mirroring “service’s” operational site (Black Screen). If you like what you see, you give the “service” permission to execute the same trades in your brokerage account in the same proportions that the fund makes. So if the fund receives a percentage of wealth to its portfolio in, say, GOLD, the service will “buy” (with funny-money) the same percentage position for you in your account (an electronic or “paper” {FIAT} transaction). For this privilege, you pay a fee based on the amount of money you invest with the “service” to follow “the fund.”

As an example: Through an normal accounting transaction, the Dragon Family moves 200 tones of GOLD into their “Gold Inventory” in their “Global Account.” You like what you see so you have the “service” credit your account with an electronic transaction of equal value. Get it? Of course, YOUR transaction is simply an ASCII Octal Code on a computer that “represents” the real wealth sitting in the vault of the Dragon Family and recorded in their General Ledger as an entry representing their GOLD Inventory. It may also be an equivalent “representation” issued in paper Eurodollars (FIAT money). (e.g., 4 Quad-Trillion Pounds credited to “Spiritual White Boy”).

So,  you can see … it’s a sham!

Courtesy of http://jhaines6.wordpress.com