End fraudulent financial system – Belgian King
Posted by Ivo Cerckel on July 21st, 2009
His Majesty Albert II, King of the Belgians, is calling for a more ethical economy in his annual National Day speech. (1)
Yes, the unexamined life is not worth living, said Socrates.
The present crisis is due to irredeemable, at least unbacked, paper money and fractional-reserve banking. (2)
These questions are in urgent need of examination.
As His Majesty said, especially in the (unofficial, I think) German translation, ethics is failing.
The present system is fraudulent
and “fraus omnia corrumpit” (fraud negates everything).
If even lawyers accept this principle, ethics must also accept it.
Of course, there are no more standards defining what is money,
nor standards saying how much money central and not-central banks can criminally create out of thin air.
The unexamined life is not worth living.
Ivo Cerckel
honestmoney@maktoob.com
http://twitter.com/ivocerckel/
NOTES
(1)
Belgian King Albert calls for more ethical economy
Associated Press
2009-07-20 10:09 PM
http://www.etaiwannews.com/etn/news_content.php?id=1008605&lang=eng_news
King Albert II is calling for an end to greedy speculation and a return to family values in his annual National Day speech.
Albert wants lessons to be learned from the economic crisis. He called on his government and other international organizations to reform controls on financial markets and bolster education and training to create more jobs.
The king suggested citizens should “raise questions over the increasing materialism” in society. He called on Belgians to “put more importance on family values, solidarity and respect for others.”
The monarch addressed the country in his traditional eve of National Day celebrations Monday. A military parade, concerts and fireworks are planned Tuesday to mark Belgium’s independence from the Netherlands in 1830.
(2)
irredeemable digital liquidity & fractional-reserve banking are fraudulent – Let the system collapse now!
http://bphouse.com/honest_money/worthless-digital-liquidity-and-fractional-reserve-banking-are-fraudulent-%e2%80%93-let-the-system-collapse-now/
TEXT OF THE ADDRESS
GERMAN
http://brf.be/nachrichten/top/koenig-albert-plaediert-fuer-ethik-im-finanzsektor
SNIP
Das erste Gebiet, auf dem wir reagieren müssen, ist die Ethik. Die Krise ist größtenteils der fehlenden Ethik zuzuschreiben.
FRENCH
http://www.lalibre.be/actu/belgique/article/517512/discours-de-sa-majeste-le-roi-a-l-occasion-de-la-fete-nationale.html
SNIP
Il me semble qu’un premier domaine où nous devons réagir est celui de l’éthique. La crise a été en bonne partie causée par l’absence d’éthique.
DUTCH
http://www.standaard.be/Artikel/Detail.aspx?artikelId=DMF20090720_016
SNIP
Het komt me voor dat de ethiek een eerste gebied is waar we actie moeten voeren. De crisis is grotendeels toe te schrijven aan het gebrek aan ethiek.
No related posts.
July 21st, 2009 at 15:44
FROM MY SPIES IN BELGIUM:
Omdat gans het Koningshuis héél zware verliezen heeft geleden !!!!
Alsook de zgn. rijke Belgische families.
Het gaat over honderden miljoenen euro foetsji…wegggg…
The royal family has suffered severe losses.
The so-called rich Belgian families also.
Hundreds of millions of euro are gone.
Ivo:
Got gold, n’est-ce pas Gustaaf?
July 21st, 2009 at 16:00
It’s an ethical question, ja watte?
July 21st, 2009 at 23:33
“Caveat emptor” (Let the buyer beware) is not applicable upon the Belgian stock gambler.
Only upon a thalidomide monster who’s responsible for her mother having been administered the drug.
July 22nd, 2009 at 15:06
Moral hazard is the prospect that a party insulated from risk may behave differently from the way it would behave if it were fully exposed to the risk. Moral hazard arises because an individual or institution does not bear the full consequences of its actions, and therefore has a tendency to act less carefully than it otherwise would, leaving another party to bear some responsibility for the consequences of those actions, says Wikipedia.
Baruch had a way of tainting and provoking students in the sure knowledge that they would not touch him because of his limp. (Frank Van Dun, “In the Shadow of the Prodigy”, sine loco, Frank Van Dun Publishing, 2007, p. 122)
July 23rd, 2009 at 09:37
Gold rush is over – poorest are suffering most,
says The Daily Telegraph in two different columns today.
Gold rush over as demand slows
Investment in gold exchange traded funds, gold coins and small bars slowed in the second quarter.
Published: 1:30PM BST 22 Jul 2009
http://www.telegraph.co.uk/finance/personalfinance/investing/gold/5886812/Gold-rush-over-as-demand-slows.html
In fact, we could hardly have been more wrong. Certainly, many middle-class workers have lost their jobs. Some have lost their homes. But their pain, in Britain at least, is being dwarfed by that of the least well-off: once again, it is the poorest who are suffering most.
(A recession for the many, not the few
Despite the worry over middle-class job losses, it is the poorest who are suffering most, says Edmund Conway.
Edmund Conway
Published: 7:38PM BST 22 Jul 2009
http://www.telegraph.co.uk/finance/comment/edmundconway/5888891/A-recession-for-the-many-not-the-few.html
A well-publicised weakness is an asset. It gives people a ready-made explanation for all your failings and that keeps them from speculating and spinning tales about you. (Frank Van Dun, “In the Shadow of the Prodigy”, sine loco, Frank Van Dun Publishing, 2007, p. 160)
July 30th, 2009 at 06:41
Dear Ivo, I’m also leaving Belgium and head to the east
http://headingtodubai.blogspot.com