Community Views : What’s on the boards today….11th Feb 2011

11th February 2011

The Telegraph

"Dominique Strauss-Kahn, managing director of the International Monetary Fund, has called for a new world currency that would challenge the dominance of the dollar and protect against future financial instability."

quartz thinks: "This was predicted by many of us… the banksters created the problem by first creating inflation then changing their tactics to create deflation, then come up with the solution."

While destroyerofworlds says:"Now that the crappy fiat monetary systems we already have are on the verge of collapse, this clown wants to start up another one. And all to consolidate more power into the hands of the international bankers. Well all I can say is, "DSK, go and get f@cked". You crazy, power mad, nutcase. dow."

CNN Money have covered this story as well.

The Telegraph

"Public sector's 'Madoff-style' pensions pyramid will spark crisis, warns Centre for Policy Studies. Britain's civil servants must be weaned off their gold-plated final salary pensions to avert a "fiscal calamity", a new report into the looming pension crisis has warned."

freedom4citizens comments: "Public sector pensions are a ponzi scheme. They must be converted to defined contributions, now! Money paid in, plus investment income, gets paid out. It is the only way it can work without bankrupting the government (er, forcing the government into unbridled QE, turning sterling into the mexican or argentinian peso."

The Daily Mail readers are saying:

George comments: "the pensions paid to state workers is unaffordable,unrealistic,unfair and a kick in the teeth for all the rest of the taxpayers who are being clobbered to pay these over generous pension payments,we have to have a fairer level playing field and bring some common sense and justice to the situation,at least double the payments made by the public sector workers and stop this business of early retirement in their fifties on full pension,its unfair to everyone else as we are PAYING FOR THEM TO DO SO,END THIS DISCRIMINATION NOW BETWEEN PRIVATE AND PUBLIC SECTOR PENSIONS now"

While Philip S points out: "When you leave your comments, don't harrangue the Public Sector Workers, it was the Government that set up the Pension scheme in the first place, and successive Goverments have done nothing to rectify the problem. No one can blame the Workers for wanting a decent pension, and wanting to protect it. For the Government to change the goal posts for those now in employment is grossly unfair. The problem has been that there has never been a 'Pension Pot', if this had been set up in a similar fashion to the Private Sector, this current problem would never have arisen."

And in Citywire :

Greg Kingston writes: "If NEST is good enough for the private sector, it should be good enough for the public."

And the rest of the commenter's seem to agree with him.

The Guardian

"European debt crisis threatens Portugal. Portugal becomes latest eurozone member to be threatened by speculative attacks in the bond markets as borrowing costs soar"

The Telegraph is also discussing the Eurozone, but concentrating more on Spain:

"Spain has imposed draconian rules on its saving banks and is preparing for part-nationalisation of the industry to restore confidence and boost the country's defences against contagion from the debt crisis in Portugal."

humf writes: "preparing for part-nationalisation of the industry to restore confidence"

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