David focused a lot on EU regulation and its impact on banks. With the Euro in trouble, Greece in a state of desperation and the big banks in trouble, it is scarcely believable that the EC has chosen to loosen capital rules, that is, relax the stance on fractional reserve requirements. In previous shows David has talked about the fractional requirement (the percentage of money that a bank is actually required to hold in its vaults) and the impact on the global crisis. It allows banks to overlend and this is where a huge part of the problem begins. Britain, it is worth noting, wants higher thresholds -- which makes sense as the principal activity of a bank should be to keep your money safe, and it will still be able to make good loans if well managed. The lowering of the reserve requirement defies belief quite honestly. David also spoke about Expats. Expats should be people that renounce their citizenship, although it is common used in other ways. A huge number of people are ! leaving the US every year, but too many people are afraid to do so, finding reasons not to act when they know they should. Finally, David`s predictions for the day: *The world is going to break up into global spheres of influence *As more Americans expatriate the US is going to pass laws that will refuse to recognize the right to do so www.truthandliesradio.com -------------------------------------------------------------------------------------- Follow us on: Twitter: twitter.com Facebook: www ...
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