Spain's Destruction Duplicates Greece: Opinion
NEW YORK (Bullion Bulls Canada) -- What we see taking place in Spain today is an exact, carbon-copy of what we saw in Greece. On the one hand, we have a traitor-government willingly imposing round after round of Friedman Austerity on its own people -- despite the utter futility of such sadistic budget-cutting. On the other hand, we have the banking crime syndicate (with the gleeful assistance of Big Media) relentlessly driving interest rates on Spain's debt ever higher, clawing back every penny of that austerity in interest payments to the Bond Parasites.
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Spain's Prime Minister, Mariano Rajoy commented: "Spain is facing an economic situation of extreme difficulty, I repeat of extreme difficulty, and anyone who doesn't understand that is fooling themselves . . . the alternative is infinitely worse."
Congratulations Chicken Little! Rajoy succeeded in convincing his people that the sky is falling. Unfortunately, what he forgot to tell them was that the budget cuts he's imposing have absolutely zero chance of improving things for his own people, while serving to engorge the Bond Parasites. Already Spain's government is budgeting 29 billion euros this year for interest payments alone, roughly 30% more than one year ago -- while imposing savage budget cuts on its own people.