The financial regulators have no experience.

The principle of causality says that nothing can be the cause of itself.
The principle of causality is subsequent to the principle of non-contradiction (PNC) which says that is impossible to be and not to be at the same time and in the same respect.
Like the PNC, the principle of causality is known from, or arises from, experience.

How much more experience do we need?
Merkel and Sarkozy have no experience.
Hence, they need to have recourse to deductions and/or inductions to blame speculators,
thereby forgetting that prohibiting oil speculation has the same effect on society as preventing squirrels from storing up nuts for winter – it leads to starvation.
(Walter Block, “Defending the Undefendable”, New York, Fleet Press Corporation, 1976, p. 175)

Now they say they want circuit breakers for Monday in the USA.

Regulators eye curbs to slow stock price drops
Sat May 8, 2010 9:57pm EDT
http://www.reuters.com/article/idUSTRE64803J20100509 

Circuit breaker refers to any measure used by stock exchanges during large sell-offs to avert panic selling.
http://www.investopedia.com/terms/c/circuitbreaker.asp

What’s wrong with panic?

What are the long-term effects, to all groups in society, of circuit breakers? Our Masters want to avoid disaster? They will precipitate it.

Price controls don’t work, upwards, nor downwards. And they think circuit breakers will avoid disaster?

By circuit breakers, the sheeple will, at the point of a gun, be prevented from concluding mutually beneficial stock-market transactions.
Circuit breakers can only bring mounting chaos and radical discontent, like in Soviet Russia and Nazi Germany.

The financial regulators lack any experience.

Ivo Cerckel
honestmoney@maktoob.com
http://twitter.com/ivocerckel/

The present banking crisis is due to the fraudulent phenomena
of irredeemable, at least unbacked, paper money,
and of fractional-reserve banking. (1)

In order to provide more digital, not even paper, money to Greece,
the Masters of the European Union (EU), not just those of euroland,
will apply to Greece
a clause in the 2009 EU Lisbon treaty designed to provide cash for economies hit by natural disasters. (2)

This means that the EU Masters consider that,
due to the fact that they did not criminalise the phenomena of
irredeemable, at least unbacked, paper money, and of fractional-reserve banking,
these phenomena are natural disasters.

Wouldn’t it be more appropriate to consider the EU Masters to be unnatural disasters?

Ivo Cerckel
honestmoney@maktoob.com
http://twitter.com/ivocerckel/

NOTES

(1)
digital liquidity & fractional-reserve banking are fraudulent – Let the system collapse now!
Ivo Cerckel – December 2008
http://bphouse.com/honest_money/worthless-digital-liquidity-and-fractional-reserve-banking-are-fraudulent-%e2%80%93-let-the-system-collapse-now/

(2)
Alistair Darling trapped in euro deal

Alistair Darling has agreed to consult directly with George Osborne and Vince Cable as European leaders looked poised to push through a new multi-billion pound bail-out fund part-financed by British taxpayers.

By Edmund Conway and Bruno Waterfield
Published: 10:08PM BST 08 May 2010
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/7697471/Alistair-Darling-trapped-in-euro-deal.html
SNIP
The proposal, tabled by Nicolas Sarkozy in an emergency meeting late on Friday night, will involve the creation of a €60bn “European stabilisation mechanism” designed to provide bail-out support for countries which may face similar strain to Greece in the coming months.

It is thought to be focused particularly on Spain and Portugal, both of whose leaders fear an assault by “bond vigilantes” in the market who have scented weakness within the eurozone. The plan will have fiscal implication for all European Union countries, including the UK. The key element is an extension of an existing bail-out package, already used to support Hungary and Latvia.

This involves extending an already-existing Lisbon Treaty clause originally designed to provide cash for economies hit by natural disasters. Under this, the European Commission will borrow directly from markets, with its own finances guaranteed by EU nations – something which would leave the UK public finances exposed if a country fails to repay the loan. It could also impact the UK’s credit rating.