You Will Be Bailing Out the European Union – Further Collapse of the Dollar

NC Freedom ^ | Today | David DeGerolamo NC Freedom

[RandysRight]

Germany learned many financial lessons during the first and second world wars. One lesson that they have not learned is that safe deposit boxes are not safe. When the United States outlawed the personal ownership of gold under the Roosevelt administration, the government went through people’s safe deposit boxes and confiscated any gold that was found. As shown below, the German people are getting ready for bad economic times in the European Union.

“Germany cannot keep paying for bail-outs without going bankrupt itself,” said Professor Wilhelm Hankel, of Frankfurt University. “This is frightening people. You cannot find a bank safe deposit box in Germany because every single one has already been taken and stuffed with gold and silver. It is like an underground Switzerland within our borders. People have terrible memories of 1948 and 1923 when they lost their savings.”

Axel Weber, Bundesbank chief, discussed the possibility that Portugal and Spain would need bail-outs when he said that EMU governments may have to put up more money to bolster the fund. “€750bn should be enough. If not, we could increase it. The governments will do what is necessary,” he said.

Mr Weber also said that a “worst-case scenario” of triple bail-outs would require a €140bn top-up for the fund. This assurance is unlikely to soothe investors already wondering how Italy could avoid contagion in such circumstances.

With all of the financial news centered on the collapse of over half of Europe, the world is putting their trust in the United States dollar and stock market during this past week. Safety is relative, especially when people are ignorant of how the bailout of the EU will be accomplished. The international monetary fund (IMF) will be overseeing this bailout of failed countries in the European Union. This means that member countries of the IMF and not just EU countries will be footing the bill. Germany’s share will not be the largest share in this economic collapse.

Let’s look at the IMF’s website to see who will be footing the highest share of the European bailout:

The IMF’s resources come mainly from the money that countries pay as their capital subscription when they become members. Quotas broadly reflect the size of each member’s economy: the larger a country’s economy in terms of output and the larger and more variable its trade, the larger its quota tends to be. For example, the world’s biggest economy, the United States, has the largest quota in the IMF. Quotas, together with the equal number of basic votes each member has, determine countries’ voting power. They also help determine how much countries can borrow from the IMF and their share in allocations of special drawing rights or SDRs (the reserve currency created by the IMF in 1969).

The people across the world who are rushing to put their wealth into the US dollar are like lemmings running over the cliff. As we print more money to bail out Europe, our currency is further devalued and our wealth is redistributed to everyone else. When Americans who are working to achieve their dreams wake up to realize that they have been duped by the Federal Reserve, World Bank and International Monetary Fund, we will start our long path back to freedom if we have the courage.

David DeGerolamo

NC Freedom

[SkyPilot]

The quoted verse is contradictory of the one world order, in fact, it appears to foretell chaos...not unity.

Do you know what the Great Tribulation is?

[Mr. K]

look, dumbell, someone voted this stuff into existance. I am guessing it was the people who were alive 40 50 years ago (or more) and of voting age.

The same people who are now complaining when we can’t afford this

The fact that you are now bring my mommy and satan into this means you have no further valid argument

I have NO SYMPATHY anymore for the geezers who want more socialism