Posted on 11/13/2011 3:47:46 PM PST by bruinbirdman
Europe’s scorched-earth policies have begun in earnest. The inherent flaws of monetary union have created a crisis of such gravity that EU leaders now feel authorized to topple two elected governments.
As I long feared, the flood of cheap credit into Southern Europe and the slow death of Club Med industry by currency asphyxiation have together created such a dangerous situation for world finance that informed opinion is willing to turn a blind eye to EU sovereign trespass. Some even applaud.
The Greeks were ordered to drop their referendum on measures that reduce their country to a sort of Manchukuo, with EU commissars "on the ground", installed in each ministry, drawing up lists of state assets to be liquidated to pay foreign creditors.
Europe had the monetary and fiscal means to contain the EMU debt crisis long enough for Greeks to give or withhold their crucial assent to this ultimatum in December.
It chose - under German-Dutch pressure - not deploy those means. Instead it forced Greece to capitulate by cutting off an agreed loan payment.
In Italy, the European Central Bank has engineered the downfall of Silvio Berlusconi by playing the bond markets, switching purchases on and off to enforce compliance with its written dictates ("La Lettera"), and ultimately allowing 10-year yields to spike to 7.45pc to drive him out.
Europe’s president Herman Van Rompuy swooped in to Rome to clinch the Putsch. "Italy needs reforms not elections," he said.
We are not that far from use of EU judicial coercion, and then EU police power, and ultimately EU "border troops" - for those old enough to remember Soviet methods of fraternal assistance.
Chancellor Angela Merkel tells us that peace in Europe can no longer be taken for granted, and she is right. Her own
(Excerpt) Read more at telegraph.co.uk ...
I see you didn't live through that period of history as I did.
Oh, the huge manatee ~
They are all socialists.
EU is the effort of bankrupt socialist countries, who ran out of lenders [other peoples' money], to palm off responsibility to the Grand Commission.
There is still plenty of wealth to confiscate.
This is the grand plan of EU founders who knew that socialism historically has a relatively short half-life.
The EU Commission is EUSSR's answer to the benevolent dictator.
yitbos
Post-independence, then? I never said that they did rail building in Argentina in 1825; only that that's the year they recognized Argentina's independence. I also said that there can be no comparison between that and what's going on in Europe right now.
1870 and 1914 is the period when UK rail building occurred in Argentina ~ NOT 1825
What’s going on in Europe now is nothing compared to what went on in Argentina when the Brits collected on the debts.
Change is coming—The socialist vision is done. It will bring disorder and the jackboot. Germany will have her day—Der Tag is about to happen. Germany will gain Europe via peace but rule with an iron hand. They will return Europe to greatness but at the coast of freedoms.
Somewhere and somehow I smell the odor of the Rothchilds and their centuries old intentions and game playing for monetary control. These are not good people for the good of the USA.
From Germany Resists Austerity in Budget - WSJ, 2011 November 12, by William Boston, Andreas Kissler and Matthias Rieker
Berlin is enjoying its lowest unemployment in decades and the government is still finding money to spend on infrastructure and income tax cuts ..... < snip > But in France, Europe's second-largest economy, the government has presented two austerity budgets ..... < snip > As Germany puts the final touches on its 2012 budget, it is becoming increasingly clear that Europe's largest economy is a glaring exception at a time when a worsening debt crisis is forcing other major capitals to pull their belts ever tighter.
From Germany invites skilled workers from Greece - AP / Breitbart, 2011 November 13, by Kirsten Grieshaber
With a shrinking labor force and buoyant economy, Germany desperately needs skilled workers to keep its industrial engine churning forward. Increasingly, it's seeking them from Greece and other European laggards like Spain and Portugal where unemployment is soaring amid fears of financial implosion. Germany quickly overcame the financial meltdown that started in 2008 and unemployment is now at a 20-year low of 6.6 percent. Companies are so desperate to fill skilled labor shortages that the government has taken to organizing matchmaking sessions between German firms and job seekers from crisis-hit countries. ..... < snip > Rich Germany has a surprising message for sinking Greece: Help Wanted.
Greece gave us the foundations of democracy. Italy gave us the foundations of republic. It's too bad that both have flirted with and adopted some forms or degrees of Utopian socialism.
Germany is doing well, even amid the slowdown of European economy, and is actually, planning on income tax cuts and balancing the budget by 2015.
That, despite having the same common currency (Euro) and the "central" European Central Bank (ECB). The difference and the problem with other countries (PIIGS - Portugal, Italy, Ireland, Greece, Spain) was years or decades of their government's profligate public spending, not so much the marginally effective policies of their central bank and/or relative weakness or strength of the currency.
We can learn from that when we indiscriminately bash the Fed (central bank) and its monetary "policies".
Will everybody in Europe be expected to... shudder.... work?
Germany will have all Europe work—in mines, factories, farms, their armies will dominate Africa for Raw materials and make enrodes in South America.,
Germany is the sole military force in Europe.
They are also the only viable industrial economy in Europe.
The Little Horn of Daniel 7 sits in the Vatican.
>> “What’s happening to Greece is minor stuff.” <<
.
The Huns are not as soft-headed as the Brits.
Not disputing your point just remarking on the historicness of England's change of attitude.
>> “The question I would ask the leaders of Greece, Italy and the other relevant nations is this: What did you expect when you abdicated your sovereignty to the eurocrat socialists in Brussels?? You sold your soul, and now payment is coming due.” <<
.
Who do you think Newt and slick Willy sold us out to with GATT?
Lots of dominos on this table.
Alright, so Pritchard disagrees with the establishment of the EMU, but it appears that he has often commented in favor of more debt and spending for Greece and Italy. It would seem that more sovereignty in those countries could have been attained by turning away from socialism. It would also seem that those who willingly joined the EMU are not victims of the more productive members.
Mom out to the store?
>> “I see you didn’t live through that period of history as I did.” <<
.
You’re a bit older than I had imagined...
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