The whole reason for this mess is the lack of trust! First the banks didn’t trust eachother, now the publid doesn’t trust them. mmmm… let’s see… How can we instill more trust in the system? I know let’s employ Enron style accounting, yeah, that’s the way. That way we will fool people (and other banks) into thinking that we are really solvent… no… really… we are yeah. hahahahahahahaha morons in the extreme.

You cannot run away from this. You must bite the bullet and restructure the ecomony as much as the insolvency requires. Yes, it will be painful, yes the system will collapse if it is that bad, and I assume it is that bad, otherwise they wouldn’t be trying to hide it (and that’s what everyone else will think too). But they must put up the basis for the new system. Get it ready. The new system must be honest. No funny money. It must be transparent. Money can never be based on debt again, if it is as bad as I think it is. The gold standard is coming.

It will buy them a tiny bit of time. If they all declared themselves woefully insolvent today, the system and people’s savings and jobs would be over tomorrow. I’ll be tending the chickens and the vegetable patch (I believe it is that bad, otherwise they would be transparent and show thier books). Buy covering their insolvency up further, the remaining shareholders just keep selling their shares until nationalisation. What they do then, I have no idea? Who are they going to lend to?

That is when the new system comes in place. If no new system comes, get your gardening skills up to scratch, or know someone close who is good at it.

Everyone involved keeps putting their heads in the sand wanting things to just go away.