10
Apr
2011

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TRANSCRIPT:

Hello, this is James Corbett of corbettreport.com with your Sunday Update for this 10th day of April, 2011. And now for the real news.

Making headlines this week, fallout from the bankster-created, derivative-fuelled worldwide economic crisis spread this week as Portugal became the next European government to admit it was unable to finance its own unsupportable debt burden. On Wednesday the Portuguese Prime Minister admitted that the country is looking for the European Union to bail out the country to the tune of 80 billion Euros.

Although by no means unexpected, the news nevertheless comes as a severe blow to the peoples of Europe, who will now be forced into even deeper debt to the international banking oligarchy in the name of debt racked up by politicians to the banksters.

Meanwhile, the Finnish Finance Minister, a globalist mouthpiece and Bilderberg attendee, has made it clear that the ruling oligarchy will make this process as hard on the people of Portugal as possible, promising strict austerity measures as a condition for the bailout.

Now, analysts are predicting Spain will be the next domino to fall in this planned collapse of the Eurozone. Paradoxically, however, rather than denouncing the European Union as a failed experiment in globalism, the proponents of the EU monstrosity are using this as a chance to argue for a further integration of the European economy under the dictatorship of the European Central Bank.

In related news, Icelanders went to the polls this weekend to vote on a deal to pay the British and Dutch governments for debts racked up by Icelandic bank “Icesave.” Exactly why the people of Iceland should be held responsible for the debts of a private banking institution has never been adequately explained, and opponents of the bill say it is a clear example of odious debt and thus the Icelandic people are not obligated to impose severe austerity measures on themselves in order to pay for the banksters’ debts.

Early polling results show that the Icelanders have rejected the deal, just as they voted to reject a similar deal in March of last year. Government negotiations on the issue are now essentially stopped and the matter is likely to be referred to the European Free Trade Association Surveillance Authority.

Laughably, the British and Dutch governments are threatening that these poll results will be a stumbling block on Icleand’s road to becoming an EU member state, talks about which were slated to begin in June. Earlier this week UK Independence Party member and Member of European Parliament lambasted the European Parliament for deluding itself that Iceland even wants to become a member of the EU.

Finally this week, billionaire bankster and globalist puppet George Soros has convened a so-called second Bretton Woods conference this weekend at the site of the international gathering in July of 1944 that created the modern financial order, including the IMF and the World Bank, and established the U.S. dollar as the world reserve currency. As expected, Soros and cronies like ex-British Prime Minister Gordon Brown and ex-Fed Chairman Paul Volcker have been discussing the creation of a new monetary order that will end the U.S. dollar’s reserve currency status and usher in a new era of bankster-inflicted suffering on the peoples of the world.

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