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First Peston came for the banks. Then he came for the Governments
Written by Jon   
a rant and a rave on Robert Peston's economic analysis and influence

Robert Peston, economic correspondent of the BBC was widely fingered by both the banking hoi polloi and the commoners alike, for increasing the lack of confidence with recent banking debt revelations.

Now moving onto the credit craziness of governments recently or soon to absorb corrupt and rusted banking institutions, Peston is coming out swinging against the developed and developing nations of planet Earth stating: "Now there are runs on countries".

Peston's exposition of the real cancerous fat deposits within the system of finance have angered many - on both sides - those in the 'know' - for going too far. And also angering those outside 'finance' who are 'in the know' through not going far enough in exposing the root causes of the Credit Crunch and cyclical systematic breakdown in national and global economies...

Yes it's the old money as debt chestnut. And you won't read much on Peston's blog about that. Although it's not as if this is to be portrayed as the "big illuminati lie" otherwise Peston is a natural conspirator. That's implausible, when the fact in current economic theories is the utter acceptance of money as debt as a simple fact and not a reversible or changable facet within all th over-arching global financial system.

Economic historians focus massively upon the shift in the status and reality of currency, from gold backed, to commodity backed, to fiat currency and modern ever expanding debt credit cycling currency.

Whilst many have already whined and probably will continue to do so on Peston's bold reporting of the big Bad Credit CRUNCH - they need to relax their lust for censorship amid the fact that shooting the messenger will never change or deviate from the message. Peston's lack of focus on 'Money as debt" for the cause of this most recent crisis is due more to the facts of financial unquestioning orthodoxy upon this point that current affairs has to deal with - the situation as it is, and not as it could or should be.

In truth perhaps it's those seeking to censor Peston who should be silenced rather than Peston himself. If the truth of the economy cannot be reported without damage to said economy, it couldn't have been constituted very well in the first place, to suffer from such shallow rudimentary scruitiny.
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