Once again politicians in the Eurozone are pinning the blame on the financial markets for the current crisis, which consequently, they threaten to apply price controls through trading curbs.
From Bloomberg
The European Union may impose position limits for commodities derivatives and curbs on high- frequency trading as part of plans to overhaul the region’s financial-market rules.
The European Commission, the 27-nation EU’s executive arm, is seeking limits on the number of commodity derivative contracts “any given market members or participants can enter into over a specified period of time, or alternative arrangements” with the same impact, according to copies of proposals set for release on Oct. 20 that were obtained by Bloomberg News.
French President Nicolas Sarkozy has demanded steps to curb commodity derivatives speculation, which he blames for driving up world food prices. He has made the issue a priority of France’s presidency this year of the Group of 20 nations.
Earlier, one even ridiculously accused traders for being influenced by cocaine, which for him, caused the recent excess market volatility.
Yet such represents a reckless assumption that money printing has no effects on the goods and services and that trading curbs will successfully suppress prices of commodities.
What politicians decry of, instead, reflects on their unstated intentions—to continue the looting of the taxpayers and to keep printing money to sustain and expand on their privileges.
In the world of politics, distortion of the truth is a not only the norm, but regarded by the public as moral.
As Professor Butler Shaffer rightly argues
Because the state is grounded in such a network of lies, contradictions, deceptions, and conflicts, it is safe to say that political systems are inherently in conflict with reality and must resort to intentional distortions of truth as a way of trying to appear coherent to a gullible public.
Politics contributes significantly to the dumbing down of the way people think.
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