Hi SS's, Something of topical interest, though I don't subscribe to the "victim" syndrome contained in the article. http://rt.com/news/europe-debt-crisis-takeover-215/ The sovereign debt crisis tightening its grip on Europe has claimed the scalps of two prime ministers those of Greece and Italy. Looking at the men poised to replace them, one cannot but ask is this another turn of the screw for ordinary people? Greece and Italy hold huge swathes of public debt they are unable to service unless they get massive European Central Bank and International Monetary Fund support, as a prelude to refinancing by international banks. Greece has already replaced its prime minister after he dared to say he would put a further round of harsh austerity measures to a referendum vote. The country's new PM is Lucas Papademos, former vice president of the ECB and of Greece's own Central Bank, and a member of David Rockefeller's (JPMorgan Chase/Exxon) powerful Trilateral Commission. As for Italy, the replacement for Silvio Berlusconi is the former European Commissioner Mario Monti, who happens to be European Chairman of the Trilateral Commission. Whenever we hear of "sovereign debt crises" whether in Mexico 1997, Brazil 1999, in my native Argentina in 2001/2, or today in Greece, Italy, Spain, Portugal, Ireland and (soon to come) the UK, France, or the US what it really means is that governments cannot collect enough tax revenues from their people to pay interest and capital on debt that is mostly in the hands of private banking institutions. Cutting through the Orwellian Newspeak (*) of the media, this means that the people of Greece, Italy, and Argentina must pay for the mistakes of bankers and corrupt governments, suffering higher taxes, unemployment, lower wages and pensions, and a deterioration in public healthcare, education, and infrastructure. So, whenever there is a public debt crisis, "We the People" must pay for it. However, when in September 2008 a private debt crisis exploded due to the derivatives swindle which buried Lehman Brothers, Merrill Lynch, AIG and many other private institutions, the US and other governments came to the rescue of the bankers, providing bailouts for banks "too big to fail" (Newspeak for too powerful to fail). They saved the likes of CitiCorp, Bank of America, JPMorgan Chase, Goldman Sachs with. taxpayers money (TARP), and by having the FED (hyper)inflate the US dollar (know in Newspeak as "Quantitative Easing I, II and III"), which means passing a huge chunk of the cost of those bailouts on to the Rest of the World using the US dollar as global currency. So again, irrespective of whether debt collapses are public or private, it is always "We the People" who pay because, under the current system, all profits are privatized and all losses are socialized. But let us go back to Messrs Monti and Papademos. They sit on the Trilateral Commission together with hundreds of corporate chairmen and CEOs such as Ana Botin (Bank Banesto/Santander, Spain), Peter Sutherland (Goldman Sachs/BP, UK), Michel David-Weill (Lazard Bank, France), Jurgen Fitschen (Deutsche Bank, Germany), Stephen Green (HSBC, UK), Nigel Higgins (Rothschild Group, UK), Lord Guthrie (N M Rothschild, UK), Klaus-Peter Mller (Commerzbank, Germany), Dieter Rampl (UniCredito, Italy), Otto Ruding (CitiCorp Europe), Lord Simon of Highbury (Morgan Stanley, UK), Emilio Ybarra (BBVA, Spain), Robert Kelly (Bank of NY Mellon) Lord Brittan (UBS, UK), Robert Zoellick (World Bank), plus Timothy Geithner, Henry Kissinger and many, many others In fact, the Trilateral Commission articulates with the powerful Council on Foreign Relations (New York), Chatham House (London) and many other think-tanks forming an intricate web of private global power-brokers bringing together key players in finance, industry, media, government, academia, intelligence and the military, who run today's global system focusing on their interests, and clearly not on those of "We the People." No doubt Messrs Papademos and Monti (if the latter becomes Italy's new prime minister) will do everything necessary to ensure Italy and Greece do not default on their debts but rather that their peoples endure all the hardship, undergo all the pain, and make all the sacrifices so that major bankers sitting on the Trilateral can all get their money back. Those who should never have made loans to Greece and Italy (and Argentina and Portugal) the way they did. Adrian Salbuchi for RT (*) Newspeak a fictional language of hypocritical euphemisms in George Orwell's novel "1984". Adrian Salbuchi is a political analyst, author, speaker and radio/TV commentator in Argentina
"One of the severest forms of monetary policy being roped in for fiscal purposes is monetary financing, in colloquial terms also known as the financing of public debt via the money printing press." (The prohibition of monetary financing) "...is one of the most important achievements in central banking. Specifically for Germany, it is also a key lesson from the experience of the hyperinflation after World War I." That is a quote from a speech given on November 8 in Berlin by Mr Jens Weidmann, the head of the German Bundesbank and a council member of the European Central Bank (ECB). The tragedy of this excerpt from Mr Weidmann's speech is that it contains within it a fundamental contradiction. The reluctance to indulge in "financing of public debt via the money printing press" is NOT "one of the most important achievements in central banking". Central banks are now and always have been institutions set up specifically to debauch the currency by having a monopoly on its issuance. From there, every central bank in history has progressed to the stage of financing the public debt without the inconvenience of having to find a "buyer" for such debt. A central bank can create any amount of the "currency" necessary for the purpose. Sooner or later, all of them do. The only solution to this problem is not to have a central bank at all.
As we see more totalitarianism from the EU over its member states, I found this composite video history of Nigel Farage over the past 4 years very interesting, particularly around the 12:20 mark when he reminds some members of their communist backgrounds. He's a great orator and is impressive for his ability to convey the stupidity of the EU and its policies. [youtube]http://www.youtube.com/watch?v=96j0A7IXQKo[/youtube] And this his review of the deposition of Italian and Greek premiers as the solution to member state financial failures under the EU being greater EU dominance of the member states... problem - European financial integration not working, solution - total EU control of member states by unelected EU puppets. [youtube]http://www.youtube.com/watch?v=HanScOYhyuE[/youtube]
