Looks like the banking cartel has created an array of excuses for collapsing the world economy, and now they are amping up the rhetoric and propaganda about the oncoming depression. - Bruno

From BANKING TIMES
http://www.bankingtimes.co.uk/09062008-central-bank-body-warns-of-great-depression/
June 9, 2008

by Gill Montia
Central bank body warns of Great Depression

The Bank for International Settlements (BIS), the organisation that fosters cooperation between central banks, has warned that the credit crisis could lead world economies into a crash on a scale not seen since the 1930s.

In its latest quarterly report, the body points out that the Great Depression of the 1930s was not foreseen and that commentators on the financial turmoil, instigated by the US sub-prime mortgage crisis, may not have grasped the level of exposure that lies at its heart.

According to the BIS, complex credit instruments, a strong appetite for risk, rising levels of household debt and long-term imbalances in the world currency system, all form part of the loose monetarist policy that could result in another Great Depression.