Europeans must fight against global banking cartel


An analyst says people across the European Union countries must fight against the global banking cartel, which is controlling economies all over the world, Press TV reports.

“The competitiveness is they control the system and the people in these nations they fight over the scraps. It’s ridiculous,” said Chris Dorsey, an economist and banking analyst, in a Monday interview with Press TV.

“I would say that that’s a ridiculous statement because we need to have some sort of control over the system that decides what we eat, where we live and everything else in our society and that’s the monitoring system.”

The comment comes as the finance ministers of major European economies, including Germany, France, Italy and Britain, say they will complain against the US fiscal policy in the upcoming meeting of the Group of Seven (G7).

The meeting of the G7 will be held on October 11 in Tokyo, Japan, where finance ministers from the seven industrialized countries will discuss ways to boost sluggish economic recovery as many countries are struggling with low interest rates and high government debt.

“What’s going on and what’s driving all of this is not sovereign nations; it’s not Germans; it’s not Italians; it’s the institutions that control those governments; it’s not the people inside those governments and the institutions that control the eurozone countries is the European Central Bank which takes its orders from the Bank for International Settlements. In this country (The US), it’s the Federal Reserve Bank; these are private Central banks; they have the same ownership; they make coordinated moves.”

“I think that the global banking cartel that in this country (The US) is controlled by the Federal Reserve Bank and in Europe the arm is called the European Central Bank. What I’m saying is their whole operation is imploding right now and the democracy is what’s being exhibited out on the street.”

Europe plunged into financial crisis in early 2008. Insolvency now threatens heavily debt-ridden countries such as Greece, Spain, Portugal, Italy, and Ireland.

The worsening debt crisis has forced the EU governments to adopt harsh austerity measures and tough economic reforms, which have triggered incidents of social unrest and massive protests in many European countries.