Today on The Janssen Report (#99): excesses in our monetary system keep piling up, while Greece is on the verge of breakdown. Euribor, the inbank-loan rate in the EU, is now negative (-0.001%). This means that banks are now getting paid to borrow!

Meanwhile the Greek government is ordering local governments to deposit their cash reserves at the Bank of Greece.

This amount, totalling about 2 billion euros, is to be used to pay for salaries and a repayment of a tranche of debt to the IMF. What’s next? Where is Greece going to get the money from to repay all the debts? Confiscation of citizens’ bank deposits?

This debt-disease is omnipresent. In the Euro Area the government debt reached a new high at the end 2014, standing at 91.9% of GDP (up from 90.9% in 2013). Debts will continue to grow, because of how the monetary system works – as I explain in my free membership: www.thejanssenreport.net. This is apparent in policy-making when you hear about politicans aiming to reduce the budget deficit. You never hear them about creating a surplus!

Watch this episode of The Janssen Report here:

These events are at the expense of the tax payer and they are global. So: educate yourself, act and become self-reliant. Stay tuned to The Janssen Report & sign up as a free member on the homepage.

Sources:
– Euribor turns negative
– European banks are paid to borrow
– Euro Area debt levels reach record high
– Greek mayors oppose the confiscation of their reserves

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Cheers!

Marco Janssen