Tuesday, April 17, 2012

Bankster Technocrats Want Their Salaries Indexed to Inflation

Yup, the technocrats, deep in the bowels of the European Central Bank, who are the mechanics of inflation, now want to be protected against the inflation they create.

Germany's Spiegel online reports (via Google transaltion)
"Unfortunately, the pensions of the ECB's employees are not protected against inflation," said Carlos Bowles, a spokesman for the ECB Staff Committee of the ECB, the "Frankfurter Allgemeine Zeitung". "We do not understand why the leadership of the ECB refuses to protect our pensions against inflation."

(ViaTylerCowen)
at 10:53:00 AM

6 comments:

  1. AnonymousApril 17, 2012 at 11:08 AM

    wow...that is funny...welcome to the party you magnificent bastards!

    ReplyDelete
  2. AnonymousApril 17, 2012 at 12:06 PM

    If this doesn't enrage the masses, I don't know what will. Will the you polloi bother even ask why or why only them?

    ReplyDelete
  3. BenApril 17, 2012 at 1:19 PM

    The link you provided takes you to an article talking about Apple and Microsoft deriving their energy from coal. No mention about banksters and their Viktor Frankenstein-like fear of the inflation monster they created.

    ReplyDelete
  4. AnonymousApril 17, 2012 at 2:53 PM

    But, but, I thought that there was no disparity between the rise of wages and the prices of other goods during an inflation...

    ReplyDelete
  5. AnonymousApril 17, 2012 at 3:58 PM

    Interesting, he understands that Central Bank blessed 2 percent per annum inflation (20 percent in a decade folks) is insidious. He should 'lobby' for 8 percent though, a more accurate rate!

    It is all unraveling for the CBers.

    http://blogs.ft.com/money-supply/2012/04/16/ecb-staff-demand-inflation-protection/
    "An obvious objection is that if ECB staff were protected against inflation, they would have less incentive to do their jobs properly. As part of their campaign to increase the flexibility of eurozone economies, ECB policymakers have frequently urged the ending of automatic inflation-linked wage increases.
    But Mr Bowles says: ”The problem with the [current ECB pension] system is that if we do a good job, and inflation is 2 per cent, we still lose….The ECB is one institution that can control inflation. So why do they refuse to protect ECB staff against the inflation risk?”
    The ECB had no comment on Monday."

    ReplyDelete
  6. DAKaragiannisApril 17, 2012 at 8:36 PM

    Wow you guys should really watch this video. 12 year old Victoria Grant gives a speech at a business conference of 600 attendees and explains the corruption of central banking. I can't believe a child knows more about this than most American adults. This is truly impressive!
    http://tinyurl.com/7rpcs5z

    ReplyDelete

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