To put it crudely, the US wants to inflate the rest of the world, while the latter is trying to deflate the US. The US must win, since it has infinite ammunition: there is no limit to the dollars the Federal Reserve can create. What needs to be discussed is the terms of the world’s surrender: the needed changes in nominal exchange rates and domestic policies around the world."

Martin Wolf, Financial Times, 12 Oct 2010

"When the rich wage war, it is the poor who die."

Jean-Paul Sartre, The Devil and the Good Lord, 1951

"Never before has so much debt been imposed on so many people by so few financial operatives — operatives who work from Wall Street, the largest casino in history, and a handful of its junior counterparts around the world, especially Europe.  After transferring trillions of dollars of bad debt or toxic assets from the books of financial speculators to those of governments, global financial moguls, their representatives in the State apparatus and corporate media are now blaming social spending (in effect, the people) as responsible for debt and deficit

A most outrageous aspect of the debt burden that is placed on the taxpayers' shoulders since 2008 is that most of the underlying debt claims are fictitious and illegitimate: they are largely due to manipulated asset price bubbles, dubious or illegal financial speculations, and scandalous conversion of financial gamblers' losses into public liability."

Dr. Ismael Hossein-zadeh, Class War: The Vicious Circle of Debt and Depression, June 7, 2010