October 31, 2011

Message of Hope for Romania

October 31, 2011 | From theTrumpet.com
The wonderful purpose behind Herbert Armstrong’s visit to Bucharest  
By Gareth Fraser


« Romanian president and general secretary of the Communist Party, Nicolae Ceausescu, invited Herbert W. Armstrong to his country in 1971.
(Getty Images)

“For the first time in my life, I am en route to a Communist country, behind the ‘Iron Curtain.’ I am going to Bucharest, Romania, as a guest of the country, at the personal invitation of President Nicolae Ceausescu. I am looking forward to this visit with considerable interest, since I have never been in a Communist country before,” wrote Herbert Armstrong on Oct. 27, 1971 (co-worker letter).

This visit took place under dramatically different global conditions than those extant today. Eastern Europe was Soviet property, Romania had Communist neighbors Bulgaria, Yugoslavia, Hungary, Ukraine and Moldova wrapped around it as a cloak of protection, and the country boasted the trade gem of the Danube Delta and key port access to the Black Sea.

Communist Romania

The two halves of the eurozone are locked in a broken marriage

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One by one, the democracies of Southern Europe are being broken on the wheel of monetary union.

 http://i.telegraph.co.uk/multimedia/archive/02041/greece_2041166c.jpg

Greek ministers are now cruelly depicted in cartoons knuckling to German orders or delivering the Nazi salute. The yearly march commemorating the struggle against the Axis was blocked in Thessaloniki by protesters shouting "traitor" at Greece's aging president, himself a teenage resister.


I do not wish to be anti-German, since Germany itself is the chief diplomatic victim of EMU's unfolding tragedy. But this is what happens when you insert words such as "monitoring capacity on the ground" into EU summit texts.
Europe's inspectors are to establish an occupation office in Athens to ensure "full implementation" of austerity policies. Greece has been stripped even of the pretence of sovereignty, reduced to a Sanjak again.

October 30, 2011

Full Barroso, Van Rompuy Letter Begging For G-20 Money


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With the question of who will fund the majority of the EFSF, or the €560 billion of the €1 trillion, still outstanding, and with China no longer the slam dunk "dumb money" everyone had expected it to be, Europe turns to the next biggest beneficiary of maintaining the ponzi - the entire G20 itself. Below is the letter just sent out from the two Eurostooges in which they make it all too clear that money talks, or Europe walks. "We will implement these measures rigorously and in a timely manner, and we are confident that they will contribute to the swift resolution of the crisis. However, whilst we in Europe will play our part, this cannot alone ensure global recovery and rebalanced growth. There is a continued need for joint action by all G20 partners in a spirit of common responsibility and common purpose." Too bad Bernie Madoff went to jail before he could send out comparable letters to his own investors who by implication would have become "voluntary partners" with a gun to their head.

Full letter:

Joint letter of European Commission President José Manuel Barroso and European Council President Herman Van Rompuy to their G20 partners ahead of the G20 Summit in Cannes (France), 3-4 November 2011

October 29, 2011

What the EU Deal Really Means


The big news this week was that the EU agreed to terms on a Greek bailout.

Greek haircuts vs Greek debt cuts

When is 50% not 50%? When you exclude sovereign and pension fund debt!

Sarkozy: Greece should never have been allowed into the euro zone


Sarkozy will not be in power much longer as French elections are coming up soon. What happens then? The can has just been kicked to the new leadership.

Now the question becomes who is going to buy Greek debt in the future? Anyone? The fallout from this agreement will be that the market rerates Greek and EU debt to higher yields.

We should think about what is happening for a moment. Private creditors are asked to take a 50% haircut while the sovereign nations and pension funds take none. Should this be declared a credit event? Absolutely, if it is not then the CDS market loses all of its clout and power but maybe that is what the EU really wants from this agreement.

Remember the Greek ‘austerity’ program where they are going to shift 30,000 workers to a labor reserve where they get paid 60% of their salary? This bond restructuring is a lot like that.

The press releases all look nice but when you drill down to the details you find out that appearances can be deceiving.

Let me present a quote from Slovakian opposition leader Richard Sulik, “A few years back, we survived an economic crisis. With great effort and tough reforms, we put it behind us. Today, Slovakia has the lowest average salaries in the euro zone. How am I supposed to explain to people that they are going to have to pay a higher value-added tax (VAT) so that Greeks can get pensions three times as high as the ones in Slovakia?”

Get ready for increased election and political risk over the next twelve months in Europe as a backlash begins to show itself at the polls.

Europe Wallows In Insolveable Problems

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An excerpt from Bob Chapman's weekly publication.

October 26 2011: European debt problems to come to the US, and the usual smoke and mirrors goes on, money and credit expanded further, economies fighting a losing battle, no perfect recovery for Europe, yet another bailout by the Fed, a gap that is isolating Washington from the reality of the rest of the country.

We address this European issue, because soon it will debut in the US. The comprehensive policy response, which we have been told existed, really doesn’t exist. We found that out last Friday. All the lies of the past two weeks by various European governments and bureaucrats, as well as Mr. Sarkozy and Mrs. Merkel, were just more delaying tactics to attempt to find a solution to Europe’s financial dilemma. As part of this display of smoke and mirrors, these hopeful signs, generated large gains in US and European stock markets, of course, with the assistance of the “President’s Working Group on Financial Markets.” At the same time as usual gold, silver and commodities markets were attacked viciously. This is how markets and economies are manipulated when in control of our corporatist fascist government.

Following the lead of the Federal Reserve two weeks ago both the Bank of England and the European Central Bank added more wood to the fire by expanding their issuance of money and credit. As we have previously pointed out the system cannot function without perpetual quantitative easing or stimulus. That is because no attempt has been made to solve the problems of the economy and unemployment. In the US, UK and Europe only the financial sectors and governments have been recapitalized. That is ongoing. This is the solution offered by the Fed and all others should follow such dictates. Policymakers may be energized with three conferences on tap, but that means little. Germany is the key, the German people, and they are not budging. They have had it. Being forced for 66 years to do as they have been told. That era of allied hegemony is over. While they are at it they should remove foreign troops from their soil.

The Week in Review

October 28, 2011 | From theTrumpet.com
Radical Islam tallies wins in Tunisia, Libya, Iraq and Gaza; Berlin transforms from financier to dominator; Beijing warns its neighbors to ‘prepare for the sounds of cannons’; and the U.S. faces another debt downgrade.

- video

Middle East 

Islamists emerge victorious in Tunisian election: Tunisia’s Islamist Ennahda party, an affiliate of the Muslim Brotherhood, obtained first place in the country’s election held on Sunday, winning around 40 percent of the Constituent Assembly’s seats. The election created the first freely elected political body in Tunisia’s history, an assembly that will draft a new constitution for the country and appoint a new interim president and government to rule until another set of elections is held next year or in early 2013. Although a system of checks and balances will force Ennahda to seek alliances with secularist parties, its influence will be the dominant force in Tunisian politics. 
The party seeks to do away with Tunisia’s secular traditions and create a Muslim theocracy based on sharia law. 
On Wednesday, Ali Akbar Velayati, the Iranian supreme leader’s top adviser, said the election results would help Islamists gain ground in Egypt and Libya. “The result of the election in Tunisia will positively affect regional developments,” he said. “We will observe the victory of Islamists in future elections in Egypt and Libya.” Ennahda’s success is indeed a clear indication of what the results of the wave of uprisings will be throughout the Middle East.
The death of Qadhafi heralds radical turn for Libya: Libyan dictator Muammar Qadhafi was killed by rebel forces on October 20. While his death was met with euphoria in parts of Libya and the West, the reality is that the West’s interference in Libya has set the stage for an Iranian coup. nato “has armed, trained and financed the creation of an Islamist Libya,” writes the Washington Times. “Jihadists fill the ranks of the rebels. Many of them were in Iraq and Afghanistan, killing and maiming U.S. soldiers. There are even al Qaeda members among them.” This past Sunday—the very day Libya’s National Transitional Council officially declared an end to the war—Mustafa Abdul-Jalil, the council’s chairman and de facto president, decreed that polygamy in Libya is now legal, explaining that Qadhafi’s law against it conflicted with Islam. He also promised that in future banks would no longer be permitted to charge interest, to bring them into compliance with sharia law. “We are an Islamic state,” he said. 

October 27, 2011

"The Polish president [Lech Kaczynski] was murdered!"

 The Doomed Soldiers
Polish Underground Soldiers 1944-1963 - The Untold Story


"I dream of Poland, whose institutions of justice are transparent and worthy of true respect and confidence. These types of institutions ought to be the foundation of a sovereign nation"
Maria Fieldorf-Czarska

Tomasz Sakiewicz, the Editor in Chief of Poland’s leading opposition newspaper “Gazeta Polska”, goes on record: "The Polish president [Lech Kaczynski] was murdered!"

Tomasz Sakiewicz, Gazeta Polska

Throughout the last year-and-a-half, the "Gazeta Polska" journalists attempted to ascertain the circumstances and events leading to the death of the President and the elites of the Polish nation [who accompanied him on that tragic flight]. The most important information regarding the Smolensk crash is persistently hidden form the public, and the key evidence was either destroyed, or is, in the Russian hands. Despite this, we've managed to truly learn a lot. We have consulted with the most prestigious Polish and foreign experts. Among them, authorities in aviation, air crash investigations, and terrorism.

We reached out not only to the members of various government commissions, prosecutors, and investigators, but also to the members of the intelligence community. Our journalists brought back with them fragments of the Tupolev [Tu-154M, that crashed in Russia to be independently analyzed].

Some of our findings were made available for further studies in the United States. At that time, we had published these documents; the documents that in our view, contribute to the ongoing investigation.

Watch Poland and Germany

October 26, 2011 | From theTrumpet.com
Historic week in Europe sees northern economies rising over the south. By Gareth Fraser


Last week I met one of the most famous chefs from Poland. His successful career has seen him serve Pope John Paul ii and U.S. President Gerald Ford, along with other European and Russian dignitaries. My teenage son is a budding cook, and while visiting a aaa Diamond Resort in the Southwest we took the opportunity to tour the stately kitchen and gain some wisdom from this most accomplished of men. 

I listened closely as my son received pearls of career wisdom from a tall, handsome man dressed immaculately in his white attire with a Polish flag emblazoned on its collar. His life has been one of sacrifice, hard work and increasing prosperity. He recalled the fall of the Berlin Wall, collapse of the ussr and the open arms of the United States to those such as himself who sought freedom and a better life. He touched on the crisis in Europe today and was cautious of the Continent’s dominance by any singular nation. He noted that his native Poland must be careful and wise. 

Europe’s Crisis 

October 23, 2011

"The Tu-154 plane was shot down"

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"The Tu-154 plane was shot down"
 "The TU-154 plane with President Lech Kaczynski was shot down," claim independent experts. The authors of the report entitled "The Smolensk crime. The anatomy of the assassination" answer the questions which Jerzy Miller's government committee did not even dare to ask. Their work shows numerous mistakes and a lot of negligence in the official investigation. It shows that investigating this issue by the Polish and Russian cabinets was a huge farce.

The authors of the report claim: "The reason for this aircrash was an explosion above the plane of a warhead of a conventional racket with a thermobaric charge (page 730). The results of this international investigation have been published by the Antyk Publishing House owned by Marcin Dybowski. The report shows evidence based on, among others, a reconstruction of the course of the aircrash, statements of witnesses, analyses of the wreckage of the plane as well on examination of the victims' bodies. Experts have done a huge amount of work. They used information from the sources from Poland, Russia, the USA and other countries.

Preliminary texts in the report were written by Viktor Suvorov, a former GRU officer, and Eugene Poteat, the President of the Association of Former USA Intelligence Services Officers.
Source: 
niezalezna.pl
http://freepl.info/904-tu-154-plane-was-shot-down

The 9th may’s declaration : which past for an inheritance ?






Robert Schuman’s famous speech of the 9th may 1950, in the « Salon de l’horloge » (the “clock drawing room” of the French foreign office), which is usually considered as the founding act of the European construction, could give to the onlooking citizen the impression that the birth of the European project comes from nowhere and was just the direct result of the will of a few people. Nevertheless, different projects, based on the reconciliation of European nations, had already been shaped and defended by people coming from very different backgrounds, at the beginning of the 20th century and particularly between the two world wars. Is there any link between the prospect of implementing the European Coal and Steel Community (ECSC) and the abortive plans of European cooperation of the interwar period ? Have the ideas of the « Pan-Europa » movement or those of the Briand plan influenced Jean Monnet or, in the alternative, did the upheaval of World War II create an insurmountable gap, preventing any form of continuity ?

From « Pan-Europa » to the Ventotene manifesto : plans of the inter-wars period
During the first World War, European leaders got involved in a cycle of violence which culminated in destructive nationalistic sentiment. After this shock and during the whole period between the two world wars, the weakness of the 1918 peace agreement and the vulnerability of the new balance between European powers, visionaries became particularly worried. From the creation of the Society of the nations to the Altiero Spinelli plans, different European “founding fathers” tried to create supranational dynamics, sometimes with focused initiatives, which were suddenly stopped by fascism and WWII.

New euro 'empire' plot by Brussels


European Union chiefs are drawing up plans for a single “Treasury” to oversee tax and spending across the 17 eurozone nations.

8:48PM BST 22 Oct 2011

The proposal, put forward by Herman Van Rompuy, the European Council president, would be the clearest sign yet of a new “United States of Europe” — with Britain left on the sidelines.

The plan comes as European governments desperately trying to save the euro from collapse last night faced a new bombshell, with sources at the International Monetary Fund saying it would not pay for a second Greek bail-out.

It was also disclosed last night that British businesses are turning their back on Brussels regulations to give temporary workers full employment rights, with supermarket chain Tesco leading the charge.

Meanwhile, David Cameron is attempting to face down a rebellion tomorrow by Tory MPs in a vote over staging a referendum on Britain’s membership of the EU.

Ministers expect 60 or 70 MPs to defy the party’s high command and back the call for a referendum, while some rebels claim the final toll could be up to 100 — about a third of the parliamentary party.

Downing Street has upped the stakes dramatically. Last night, No 10 sources insisted they would impose a three-line whip — effectively ordering all Tory MPs to fall in line.

Mr Cameron, who yesterday took personal charge of the effort to persuade MPs to back the Government, has come under intense pressure from Cabinet colleagues to try to defuse the revolt by offering concessions or a way out to rebels. Sources say a handful of parliamentary private secretaries — the lowest rung on the government ladder — might resign.

The single Treasury plan emerged in Brussels yesterday as Europe’s finance ministers tried to find a way out of the crisis engulfing the eurozone. A full-scale rescue plan could cost about £1.75 trillion.

British sources said Mr Van Rompuy, who is regarded as being close to the German government, suggested plans for a “finance ministry” to be based either in Frankfurt or Paris. The EU already has its own “foreign ministry”, headed by Baroness Ashton, the former British Labour minister, and based in Brussels.

A senior Coalition source told The Sunday Telegraph: “I am well aware of arguments in Brussels and elsewhere in favour of a single Treasury. You’d get any number of different versions of 'Europe’ all running at very different speeds.”

A series of meetings are due to be held over the next few days on the eurozone crisis that will involve the leaders of EU member states.

They were overshadowed last night as senior sources at the International Monetary Fund indicated privately that it is not willing to further bail out Greece, whose economy has an outstanding debt of about £232 billion.

The IMF, with the EU and the European Central Bank, is assessing Greece’s debt crisis, and a joint report yesterday suggested lenders might have to agree losses of up to 60 per cent in a Greek default.

Any suggestion that the IMF would not be part of a new bail-out of Greece could spark panic in the markets and worsen the eurozone crisis.

Eurosceptic Tories, meanwhile, are arguing in favour of “repatriating” powers from the EU to Britain, including the Agency Workers Directive, imposed last year at an annual cost of £1.8 billion, which is putting at risk 28,000 temporary job contracts for those aged between 16 and 24. Tesco has asked one of its suppliers to take advantage of a loophole in the law which allows workers to “opt out”.

As Mr Cameron led the drive this weekend to neuter the Tory rebellion, Nigel Farage, the leader of Ukip, indicated his party might not field candidates at the next election against MPs who vote for a referendum.
However, there is no danger of Mr Cameron losing the non-binding vote. He can count on the “payroll vote” of more than 100 ministers, most if not all Lib Dams and nearly the entire bloc of 258 Labour MPs.

On Saturday Tory rebels were among speakers at a “People’s Pledge” pro-referendum rally in Westminster. They included David Davis, the former shadow home secretary, who called the EU a “nascent superstate”.

http://www.telegraph.co.uk/news/worldnews/europe/8843785/New-euro-empire-plot-by-Brussels.html

Ten times as many people are demonstrating in Westminster for an EU referendum as in the City against banks. Who do you suppose will get more coverage?


It's not clear exactly how many people are encamped next to St Paul's Cathedral. Most estimates put the number at between 200 and 400, depending on precisely what time of day you do the headcount.

What is clear is that there are presently many more people in Westminster demanding a referendum on EU membership than in the City complaining about capitalism. I have just spoken at a rally of the People's Pledge, at which more than 2,000 people were present. What's more, we know that those 2,000 are representative of the country as a whole. They are a fraction of the 100,000 whose signatures triggered Monday's proposal for an In/Out referendum – a proposal which, as a poll in today's Daily Express reveals, more than two thirds of voters want their MP to back. A further 80,000 have pledged to vote only for pro-referendum parliamentary candidates.

It will be interesting to compare the amount of coverage generated by the two protests. Will the People's Pledge get ten times as much attention as the anti-capitalist sit-in, on the basis of the number of people at Westminster? Or perhaps 500 times more, on the basis of the number who signed the petition? Or will the MSM continue to cover the referendum wholly as a 'Tory splits' story? I think we all know the answer.

http://blogs.telegraph.co.uk/news/danielhannan/100112879/ten-times-as-many-people-are-demonstrating-in-westminster-for-an-eu-referendum-as-at-st-pauls-against-capitalism-which-movement-do-you-suppose-will-get-more-media-coverage/

October 21, 2011

'Nobody believes Barroso' in Greece

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Ahead of a key EU summit, Commission President José Manuel Barroso exposed at length the panoply of measures to put cash-strapped Greece back on track, but mass protests in Athens and other cities clearly indicate that "nobody in the country believes Barrroso," EurActiv Greece reported.
A day after violent clashes in Athens, tens of thousands of demonstrators rallied in front of the Greek parliament today (20 October) against a deeply unpopular austerity law.

Deputies are expected to pass the plan later today, as required by the EU and the International Monetary Fund (IMF). The bill passed a first vote yesterday.

The government has a majority of 154 seats in the 300-member parliament, but defections could possibly embarrass Athens, as it struggles to convince international lenders to maintain their support.

Speaking to the Brussels press, Barroso said on Wednesday that the EU-IMF programme for Greece can succeed. "My message is the following: It can work. It can work," he repeated.

Barroso gave the example of Latvia, which was under severe financial strain in 2009 and the situation led to popular unrest. After the country had been bailed out by an IMF-led programme to the tune of €7.5 billion, Latvia has recovered and now enjoys a 4% GDP growth forecast.

The President of the European Commission also said that Greece has at its disposal €15 billion of structural funds that could be used under conditions made easier by the EU executive. Greece has one of the lowest absorption rates of structural funds, he reminded.

"We are proposing to member states to use the structural funds as guarantees to banks loaning to the economy, because in Greece, apart from the difficult situation of the state budget, there is a kind of limitation in terms of the credit flowing to the economy," Barroso said.

With regard to tax collection, an area where Greece appears to have completely failed over the years, Barroso said he has been asked by the Greek prime minister, George Papandreou, that the Commission is offering its help in that area.

"I have created a task force chaired by [Horst Reichenbach], a former director-general of the Commission, vice-president of the EBRD, and they are doing very good work. That's the message I've also got from the Greek authorities: to try to front load structural funds," Barroso said.

EurActiv Greece reported, however, that the situation had reached "a dead end" and that "nobody in Greece" believed Barroso.

According to EurActiv Greece reports, the measures proposed may have worked in other countries but will fail in Greece, where the society is crumbling under the austerity measures and increased taxation. The country is disheartened by  the "total lack of development plans"  and "nobody thinks" the measures Barroso proposes are will work.

"The government is floundering. It can fall anytime, if anything unexpected happens. The future looks extremely grim," EurActiv Greece said.

http://www.euractiv.com/euro-finance/believes-barroso-greece-news-508456

October 16, 2011

Euro-Parliament opens its own propaganda centre: and you're paying for it

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Parlamentarium eu siteToday was the first open day of the new 'Parlamentarium' at the European Parliament here in Brussels.  The thing is billed as a visitors' centre, but in fact it is a propaganda centre, a multi-million pound way for the MEPs to stroke their own egos.

So, how many multi-millions of taxpayers' money has gone into this thing? The parliament's press people admit £18m has been spent on it, but with the book-keeping standards in EU institutions, the real amount is any body's guess.

Besides being a vanity project for MEPs, the thing is also is a way for the EU institutions to brainwash school children, who are invited to come in groups to join a 'multi-modal role play game' in which they can take on the role of an MEP and go through all the steps need to approve a new European law.

Yes, laws come from Europe, not from Westminster anymore, but I'd hardly take a British child on a holiday to Brussels to celebrate that disaster. Take him instead to the House of Commons and let him lay a wreath.
But it's worse than that: consider what kind of exhibitions the children will be herded past on their way to the '360 degree digital projection' of the parliament's plenary chamber.

October 15, 2011

Preparing for Euro Breakup : our Experts respond to the "EU Mephistos"



Preparing for Euro Breakup :  our Experts respond to the Two German professors joined UKIP Leader Nigel Farage, Co-President of the EFD Group, for a conference in the European Parliament in Brussels on the future of the Eurozone. This conference and debate, titled "Preparing for Euro Breakup" has been introduced by Nigel Farage and moderated by MEP Godfrey Bloom. Professor Wilhelm Hankel, who last year led the challenge to the euro bailouts in the German Constitutional Court of Karlsruhe, tackled  the first question : "Currency Union or Foreign Exchange rate Union ?". He has been followed by Professor Philipp Bagus, who addressed the " Pratical steps to withdrawing from the Euro." A brief Summary in english version, followed by a french summary.

Professor Dr Wilhelm Hankel explained that, for the last 3000 years it is states and banks which destroy currencies and not the other way round.

Thus it is the ECB which is the crucial determinant of currency stability and the ECB's successive rescue packages which are creating the problems. They are perpetuating a situation where certain economies such as Greece are allowed to run up ever greater deficits - without facing the normal economic consequences. This is quite simply a function of being part of a Monetary Union.

The situation is exacerbated by fears of Euro collapse especially on the part of the Germans who fear for their export markets and the French who are afraid because of their banks' financial exposure.

Of course the right solution is to change exchange rates ie allow devaluation but that requires the previous 'Foreign Exchange Rate Union'.'   The alternative is to change the national economy but that is precisely what governments and peoples do not want and cannot afford because the costs and social impacts are just too great.

The outcome is turning into a political and economic catastrophe as the market prices in the ever growing risks associated with current policies.


October 14, 2011

The Euroskeptics’ Dangerous Mistake

October 14, 2011 | From theTrumpet.com
Why they’re wrong to say that Europe is finished. By Richard Palmer

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« National General Accounting Office employees sit on October 11 under a huge banner, reading “Occupation,” in front of the office’s headquarters in Athens. Euroskeptics don’t realize Greece’s economic crisis was planned.(LOUISA GOULIAMAKI/AFP/Getty Images) 

Britain’s best experts on Europe are wrong. Dangerously wrong. This includes commentators that the Trumpet has quoted for years. A consensus is growing among Euroskeptics that the euro, and maybe even the European Union itself, is finished.

The Delusion

As the Euroskeptics see it, they are totally victorious. “Almost overnight, Euroenthusiasts have folded their tents and abandoned the field,” writes Conservative Member of the European Parliament Daniel Hannan. “Commentators who have spent years singing paeans of praise to the European project are chanting threnodies over its coffin.”

While those who say the EU is about to collapse are getting a little ahead of themselves, says Hannan, “the EU has lost whatever legitimacy it once enjoyed.”

“It may stagger on for another five years, or even another ten,” he writes. “But, if the happy events of 1989 teach us anything, it’s that the end, when it comes, is more sudden than anyone dared to hope.”

The famous British historian David Starkey agrees. At a meeting of the think tank The Bruges Group, on the fringe of the Conservative Party conference last week, Starkey said that “Europe’s been able to get away with it because its taxes are stealth taxes.”

October 13, 2011

The EU rushes towards Communism


This quote yesterday from ZeroHedge says it all:
EFSF would take first loss on the full guarantee amount of 726 billion. Given everything that EFSF can now invest in, and the fact that it is taking first loss risk, the potential loss is 726 billion. So in a little over a year, the risk of loss transfer from private companies to sovereign nations has increased from 120 billion, to 270 billion, to 360 billion, to the possibility of 726 billion! That seems bad enough, but the situation is worse than that. At each turn, Greece has underperformed and been found to have bigger needs than previously thought, but the latest IMF decision to go ahead with the next tranche anyways, sends a clear signal to Greece that they are in the drivers seat. Why do more now when IMF will keep picking up the tab until you finally decide that drachma’s suit you better.
That means you will pay. All EU money is your tax money and they are guaranteeing all and any losses. The EU has taken over the role of the Central Banks in this instance. Now consider the next EU treaty plans, the replacement for the EFSF, the ESM Treaty which would establish that all lending and borrowing inside the EU, would be run and controlled by the EU through broken and supplicant banks, both national and commercial, but outside of any and all democratic control, outside any judicial control with complete immunity.

You only have to look at the raft of new sovereign power grabs and EU wide programs that are currently underway to understand where this monolith is heading.

In a word, Communism run by an unelected elite. Yet all the warnings of the past 14 years still go unheeded.
Its evil, its corrupt and it will enslave us all. It up to you, yes you in the mirror, to oppose it, because don’t ever expect our bought and paid for politicians to stand up for you.

 The Greeks are doing it, they are opposing it. Civil disorder and a 9 day shutdown to starve the beast of its tax revenues.

 http://www.parker-joseph.com/pjcjournal/2011/10/12/the-eu-rushes-towards-communism/

October 12, 2011

Wall Street Insider: Obama 2012 Re-Election “Not An Option”

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by Ulsterman on October 9, 2011 with 44 Comments in News 

Author’s Note: This is our second interview with alongtime Wall Street Insider – an individual who, under agreed-to anonymity in order to protect their own and their client’s interests, wishes to share their views on the presidency of Barack Obama, and the past, present, and future of the American socio-economic system.


Ulsterman: First, I have to thank you once again for agreeing to the initial interview.  I understand you were very hesitant, but in the end I think it went very well.

WS Insider:  Agreed.  I found the result to be acceptable.  If I had not, there certainly would not have been this second interview.

Ulsterman:  Given what is happening just down the road from this office, I have to ask you about the Occupy Wall Street events.  You have to have pretty strong feelings about all of this?

WS Insider:  Not really.  Very little of it is real.  It’s…politics.  It’s stupid kids being played by powers they don’t have the capacity to understand.  That’s not to say it isn’t potentially dangerous, or that the president has acted terribly irresponsibly in his clear support for the protests.  But for now, I view it all as a silly sideshow.  A distraction really.  Or an attempted one.

Ulsterman:  How so?

WS Insider:  What?

Ulsterman:  A distraction.  How are the protests a distraction?

WS Insider:  How isn’t it all a distraction?  Look how some in the media are attempting to elevate the protests as something noble – something…”American”.  There is nothing American about what those kids are doing down there. It’s silly. It’s boorish behavior from a wound-up mob of perpetual discontents.  It’s manipulation actually.  Basic manipulation.

EU says eurozone needs 'permanent' austerity

http://1.1.1.1/bmi/www.google.com/hostednews/img/small-google-logo.gifNews

BRUSSELS — The EU warned Tuesday that the eurozone requires permanent tough austerity measures if it is to cope with public debt set to crash through the 100-percent-of-GDP barrier and keep rising for many years.

With an ageing population piling up social security and pension costs, the European Commission says a radical long-term correction is required to put public debt throughout the 17-nation euro currency area on a sustainable path.

"The deterioration in the public finances of the euro area since the onset of the economic and financial crisis comes on top of already high starting levels of debt," the Commission said in its quarterly report on the euro area.

Slovakia’s price for EU bail-out fund

http://1.1.1.1/bmi/blogs.euobserver.com/virostkova/wp-content/themes/euobserver/images/logo.png
Danubian ironies

After eight hours of passionate debate, the Slovak parliament voted down the boost of eurozone’s bail-out fund and failed to express confidence to the government of Iveta Radicova.

It was a battle of nerves with several outcomes of both temporary and permanent character.

Temporarily, the EU’s rescue plan has been blocked by a country of five million. As the last member state to vote on the issue, Slovakia broke off the marathon of positive rulings by 16 parliaments in the currency union. A few meters from destination, the Slovak runner has stopped and announced he would not run further. But please, don’t panic. Especially you, Sir of the financial markets. The Slovak runner will be replaced. That’s the rule of the game in the European Union. By the end of this week, the Slovak parliament is expected to vote again. Perhaps a bit later – now that the EU summit has been postponed. The main opposition social-democrat SMER party fulfilled its promise and abstained from the first vote as PM Radicova could not guarantee the approval by her coalition partners and was forced to take up the confidence motion. But, of course as true social democrats they are strictly pro-European; they will wait for their political conditions to be met before they cast their ballot again and help to approve the EU’s bail-out fund.

For PM Radicova it’s over, however. “At summits in Brussels, I have seen premiers come and go many times and I will go too,” she told MPs in what seemed like her good-bye speech, minutes before the vote. She appealed to them to keep in mind the international image of Slovakia in the challenging times Europe is facing. She maintained that it would not be correct for her to push the country in the isolation. So she took the highest risk and was defeated. Whether it will be her permanent or temporary departure from the top Slovak politics is hard to say. But neither Europe nor Sir in the financial markets care, do they?

Pessimists say the image of Slovakia will suffer, permanently. We have set a very negative example. And if our friends in the ECB and European Commission had had a magic ball and seen this coming they would not have accepted us in the elite currency club. We expect solidarity from others but fail to express it ourselves. I must admit that I felt ashamed when listening to some deputies in Bratislava. For many of them, it really was only about us poor Slovaks not willing to pay for higher pensions of richer nations. And experts (even those really eurosceptic in ordinary times) are convincing us that the bolstered bail-out fund is necessary for the whole eurozone and its return to the “ordinary times”.

But then, we did have negative referendums for previous “key European reforms”, right? And we did see countries shutting off their labour markets from workers from new member states, didn’t we? Every now and then, solidarity with plans made in Brussels (or Berlin and Paris) is tested and not always nations or their parliaments pass that test as expected. Although most of the times they do. For the first time or for the second.

http://blogs.euobserver.com/virostkova/2011/10/12/slovakia%e2%80%99s-price-for-eu-bail-out-fund/

October 10, 2011

Russia’s Internet Revolution


Russian Prime Minister Vladimir Putin’s article in the Oct. 3 Izvestia [1], titled “A New Integration Project for Eurasia,” received a spontaneous and hostile mass-review. In recent days, the Russian-speaking public has registered its distrust and dislike of the new policy by responding (on the Internet) to Putin’s article with a “#” sign, signifying a jail cell (as in Russian usage). In each response there follows a line, “Thanks to Putin….”. Thousands upon thousands thank the former KGB officer for bringing back the Soviet Union; for Stalin and Brezhnev’s return; for winter to come and summer to go; for the world to never end and for the world to end. Hundreds of thousands (perhaps millions by this writing) of Russian speaking internet users have registered their dislike of the Eurasian Integration Project, using a cyrillic hashtag – “#спасибопутинузаэто.”

October 9, 2011

Geopolitical Maps

Heartland Geopolitical Maps

Germany and Europe

The Euro is sailing in perilous waters. What if it fell apart? Here are some possible scenarios. map by Laura Canali


Heartland Geopolitical Maps

Global Germany

Berlin is a central player in Europe, but also a significant actor on the world's stage. A glimpse on Germany's foreign reach. map by Laura Canali


Heartland Geopolitical Maps

GeRussia

The German-Russian partnership is more vital than ever. Here's a close look at it. map by Laura Canali


Heartland Geopolitical Maps

Euro or not euro

Eurozone's countries; EU members with national currencies; EMS countries; possible future members. map by Laura Canali

From European Chaos to New World Order

October 5, 2011; An Interview with Franck Biancheri: From European Chaos to New World Order
 
The McAlvany Weekly Commentary
with David McAlvany and Kevin Orrick

Kevin:  David, today, before our guest joins you, I would like to talk to you a little bit about the integration in Europe.  We are hearing all the chaos with Greece not being able to make its payments, and of course, what kind of division that might be causing in Europe, but there are other opinions inside of Europe that are seeing this as just a natural progression toward more integration.  Are you finding that?

David:  Kevin, I think when you travel overseas, one of the things that you have to realize is that there is a lot more that you don’t understand, than that you do.  Whether it is linguistic differences, cultural complexities, there are things on the surface that you can make a judgment of, but in fact, you may be making a prejudiced judgment, or simply inaccurate judgment.

It is important, in that context, to look at international issues from various perspectives, and to try to step into the shoes of someone who is there on the ground, simply looking at things from a “domestic perspective,” although for us it would be an international one.

Kevin:  We have been looking at what is happening right now in Europe, but I think the bigger question probably would be to look a little further down the horizon, and what will come out of this, in the next 2, 3, 4, 5 years.

David:  I think one of the things that I appreciate about our guest today is that when he is looking at politics, when he is looking at economics and finance, you will find that their whole work is one of anticipation, and it is one of looking ahead.

October 8, 2011

Euro-crisis: dictatorship of the bean-counters




Tuesday 4 October 2011


The bankrupting of democracy is too high a price to pay for the Euro-elites’ scheme to save their system through more austerity and integration.
 
Mick Hume 


Amid all the endless speculation and wrangling over how the Euro-crisis will end, one question remains unanswered: who has bothered to ask the people of Europe what they think of the anti-crisis measures being imposed across the continent, or of their rulers’ plans for the future of the Eurozone and the European Union?

When even the Europe editor of the Europhile BBC suggests that ‘it is quite possible that an early casualty in the Eurozone crisis will be democracy’, it is surely time to ask some serious questions about the way that the handling of Europe’s financial and economic problems is intensifying the crisis of democratic politics.

If there is one thing that worries the Euro-elites even more than their out-of-control finances these days, it is their uncontrollable electorates. Governments, EU bureaucrats and Euro-bankers do not trust the ignorant European masses, many of whom have stubbornly refused to accept (on the rare occasions they have been asked) that the authorities know what’s best for them. We have followed on spiked in recent years the elites’ sustained efforts to impose a new centralised constitution on the EU and then, when those nations offered a vote rejected their imperious plans, to sneak it in through the backdoor anyway. They will not take ‘no’ for an answer, no matter how often and how loudly we tell them.

The contempt for democracy in high places has come out more forcefully in response to the Euro-crisis. First the faceless officials and financiers of the EU, the European Central Bank (ECB) and the International Monetary Fund effectively deposed the elected government of Ireland and took over managing its debt-ridden economy. Now Greece, the current cockpit of the Euro-crisis, is suffering the same fate, sentenced to a debtors’ prison and subjected to dictatorship-by-bureaucrat.

The Week in Review

October 7, 2011 | From theTrumpet.com
Iran’s house guests, the enemy of Libya’s enemy, why Saudis are worried, the German ‘imperial power,’ Putin’s Eurasian Union, and what’s going on with that ‘Occupy Wall Street’ thing.

- video

Middle East

Iran hosts Taliban leaders: A delegation of Taliban members visited Tehran in mid-September as part of an effort by Iran to play a greater role in Afghanistan. “Iran quietly hosted a delegation of Taliban members in Tehran this month in a powerful and unusual signal of its ambition to shape the trajectory of the Afghanistan conflict as U.S. troops begin to withdraw,” the Washington Post reported September 30. The Taliban representatives’ visit to Iran to attend the Ayatollah Ali Khamenei’s Islamic Awakening conference indicates that Iran has already cultivated deeper ties with the terrorist group than was widely thought. Because the Taliban has been a traditional enemy of Iran, it had long been thought there was little room for cooperation between the two. However, as theTrumpet.com has been reporting for several years, a common hatred of America provides plenty of common ground for Tehran to provide assistance to the Taliban. While U.S. officials have previously admitted Iran’s role in providing weapons and training to the Taliban, there has been little evidence of contact at the senior leadership level. Now that it is becoming increasingly certain the Taliban will play a lead role in Afghanistan once the U.S. leaves, it appears Tehran wants to be in a strong position to influence that government.

October 7, 2011

The EU peddles the big lie: 'We secured the last 50 years of peace'

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The word around Brussels is that the euro-elite thought the EU was in line to win the Nobel Peace Prize.
Yes, I know: all one can say is, 'Huh?'

Yet it seems seems that José Manuel Barroso, Herman Van Rompuy and the rest fancied the EU deserved the prize for keeping Europe at peace for 50 years.

At which point 'Huh?' becomes disgust. This 'the EU kept the peace for 50 years' lie is being used by euro-ideologues in their efforts to re-write history. (If you have school-age children, better check their school books to see just how far this lie has seeped into their curriculum.)

  British chieftain tanks wiki Mention is never made in this new history of the Nato forces, in particular of the British Army of the Rhine -- those are British Chieftain tanks on the left, rolling through Berlin -- that made sure after 1945 there was going to be no more war starting up between France and Germany; nor indeed that Germany was for most of the last 50 years divided, with Soviet power and the East German communist dictatorship controlling the German Democratic Republic.

A cut-in-half, fully-occupied Germany  was not going to invade anybody. Yet the Brussels propaganda pushers want you to believe that the last half-century of peace in Europe has all been down to the European Commission and the rest of the Brussels cartel.

There indeed could have been war in Europe, but it would have been between America and a Soviet-controlled Eastern Bloc, not between de-populated France and bombed out, humiliated Germany. During the Cold War, the Common Market had nothing to do with stopping America and the USSR fighting WWII, part 2: whatever has stopped war in Europe these last 50 years, it for sure has not been the massed ranks of the Common Agricultural Policy.

More, since the Cold War ended, the gutless reluctance of most European countries, especially France and Germany, to spend money on building effective national fighting forces means that the riots in Athens are now about as much of a European ground war as most members of the EU could actually mount.

http://synonblog.dailymail.co.uk/2011/10/the-eu-peddles-the-big-lie-we-secured-the-last-50-years-of-peace.html

GET THEM OUT


By Coach Dave Daubenmire
October 6, 2011

NewsWithViews.com

What you are seeing on the steps of Wall Street is the counterfeit movement of the Left.

It is the latest “youth movement” stirred-up to counter the Establishment. For over two years we have watched the Progressives speak ill of the grandparents who have taken to the streets to fight for liberty in America.


“Tea Baggers” is what the Socialist Left has called the gray-hairs who have organized to push-back against an out of control government. “Tea Party Patriots” have drawn the ire of the Liberal Leftists who are concerned that their death-grip on America is in danger of being repelled.

Make no mistake about it; the Establishment in America is way to the left of mainstream American values. The “Establishment” as represented by government, the public education cabal, our morally vacuous legal system, and liberal religious organizations has been on a steady march into Socialism for more than three generations.

As fractured as the Tea Party Movement appears there can be no doubt that it is sending shockwaves throughout the American political system. Try as they might, the government-media complex is having a hard time serving up Mitt Romney and Rick Perry to an ever awakening American people.

So how do the Progressive power-brokers counter the rebellion in their midst? Why they come up with their own version of the Tea Party. I like to call it The Hemp Party because, for the most part, it consists of spoiled and pampered college-aged kids. Theses kids are not tea drinkers, but rather, they have a more intoxicating leaf that they love to ingest.

As brilliant talk show host Michael Savage would call them, they are nothing but Red Diaper Doper babies…the children of the hippies who have turned America’s college campuses into a modern day version of Woodstock.

A Note On Freedom And Liberty

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Many English speakers use the terms freedom and liberty interchangeably, but these terms have different meanings. You would not hear someone say, "I have liberty from cancer." He would say, "I am free from cancer." Most other languages have only one word for both liberty and freedom, and some languages have no word to explain these English-language concepts.

When Robinson Crusoe found himself stranded on an island, he had liberty but was not free to leave because there was no way out. When Friday showed up, they had to decide if they would both have liberty or if one of them would try to dominate or repress the other.

In his famous "Essay on Liberty" written in 1859, John Stuart Mill wrote:

Marxist Lunatics send 'Death Threats' to NY Politicians about Millionaire Tax

Steve Cooper
The Conservative Monster.com

Just imagine if Tea Party people sent emails like this to politicians? The media will never mention that the American vermin that are writing these emails threatening death are communists. Why? They are actively part of the conspiracy, that is why.

The goal here is to create a state of fear and chaos as fast as possible, because a National and global emergency is needed for Martial Law to be declared. Why? To give Obama more Executive Powers. When the American Left claim that they are unhappy with Obama, they really mean that they are unhappy that Obama has not declared a DICTATORSHIP YET.

The super wealthy support Obama and the radical Left agenda, because they want power and NOT Social Justice like the "Useful Idiots" protesting Wall Street think they will get. What happens to these Marxist Revolutionaries after the revolution is over? They get to be thrown into a MASS GRAVE, but I am not complaining. I will be laughing, because that is where these traitors BELONG.   

Do these rocket scientists think that the rich want to give them money? No, they will sit back and watch these morons riot and then get smashed by the police and military. Why are the super wealthy Marxists for the most part want Communism? They want to be part of the Elite when the middle class is erased. The American people have been so dumbed down about the evils of Socialism and the protesters on Wall Street are a perfect example of that.

How many U.S. Soldiers died fighting against communism around the globe? Meanwhile, the streets are filled "Useful Idiots" protesting FOR Communism. They are brainwashed and really not that bright. (Useful Idiots was a term that Lenin created to describe the thugs he used to advance communism during the revolution).   

I hope the NYPD is watching these protesters closely and documenting them, because many could be involved with terrorism soon to advance their Marxist agenda. I have stated many times that the goal of the Marxists and Muslims are very similar. They seek to destroy Capitalism and all religions except Islam of course. Only Islam will be kept, because it is excellent at enslaving the masses. This is right up the alley of the Communists. 

Click here for MORE

ALSO -
How come the NYPD doesn't have to mace rioting Tea Party Protesters? Maybe it is because Tea Party people are Patriots and these Communist bastards are terrorists? Ya think?

http://www.youtube.com/watch?v=ELEBAGIool0&feature=youtu.be



http://www.theconservativemonster.com/2011/10/06/marxist-lunatics-send-death-threats-to-ny-politicians-about-millionaire-tax.aspx

October 6, 2011

Cultural Marxism The Doom of Language

 By Robert F. Beaudine

Posted March 8, 2011

Visit his website or facebook page


Throughout history, ideas have been used for good or for evil. They have also led to the greatest evil – war. This is reflective in a nation’s language.

By the end of 1932, Germany was in upheaval. The unemployment rate soared to 43%. As the Nazis rose to power, new ideas emerged; new words were introduced; old words were discarded and others changed. “Juden verboten” became a popular phrase as the Juden, the Jews, were blamed for all their ills. They were denied basic rights as citizens, and most activities were verboten.

In 1933, when Adolf Hitler consolidated power with the “Enabling Act,” modern art and architecture were condemned. Many artists fled their homeland, as art became a tool of the regime. The Reichstag was privately mocked as the most expensive glee club, as their members sang paeans to their Fuhrer.
The Nazi minister of propaganda, Joseph Goebbels, defined the new order and foretold the consequences, “When I hear the word ‘culture’ I reach for my gun.”

The regime was “fascist,” a word coined in 1921. This obscured their ideology – “national socialism” – a clever term somewhat palatable to their fellow nationalists in the military and industry. They telescoped this into “Nazi” to further hide its origins from the world. When scholars claim this was a regime of the far right, they are either duped or dishonest.

Under the Nazis, their prominent leaders were well-read. Goebbels boasted of his library, complete with all the works of Edward Bernays, most notably his Propaganda. He implemented Bernays’ program with great success. When this was discovered after the war, propaganda was redefined as P.R., “public relations.”

For their fanatical followers and the rest of the masses who decided to stay, anti-intellectualism was decreed. Books were burned, the media censored. French words were purged from their vocabulary. Free speech became dangerous, as even children were spies for the state.

The universities became centers to regiment thought. In a nation acclaimed for its scholarship, this betrays either their madness or a diabolical agenda – the blueprint used by all the totalitarian dictators.

Eventually, many renowned scholars fled and brought their unique heritage to America.

Verbal Engineering


October 4, 2011

Occupy Wall Street? Flying Planes into the World Trade Center? This is a War against Capitalism


Steve Cooper
The Conservative Monster.com


Capitalism employs the middle class. If there is no capitalism; there will be no middle class. - Steve Cooper

1+1=2

2+2=4

I need to go back to basics due to about 50 years of public school and media brainwashing. Watching "Dancing with the Stars" and your kid kicking a soccer ball is all that you care about. The financial system is cracking due to fighting wars that we are not allowed to win. These wars are just, because many Muslims around the world are being brutalized by their own Governments under Sharia Law. This behavior is acceptable to the International Leftists and fanatical Islamists that are allies and they are united to destroy the USA, Israel and Capitalism.

This is what I call 'Terrorist Mulit-tasking'.

First, the Marxists attacked the World Trade Center (the Financial Center of NYC) and Pentagon via their Muslim proxies to drag us into these wars. Then they smother our fighting capabilities when Bush was in office by shouting "baby killer" and by using Political Correctness. Where are all of the anti-War protesters now? I guess killing Muslim babies is fine when a Marxist is doing it, but not fine when a Republican is doing it?

Then they send their little Anarchist robots to protest Wall Street and against Capitalism. Most of these punks are rich kids that are living off of Mommy and Daddy. Where are these protesters getting money to live in expensive Manhattan? They make themselves up to look poor and dirty, but they are educated and indoctrinated spoiled brats. Many of the Muslim terrorists are educated as well in Physics and Engineering. WE are educating them. Last week, a Muslim was arrested for plotting to send a home made drone into the Pentagon with explosives, but I am a racist for mentioning this? Islam is not a race? It is a political system like Communism, but nice try. 

The collapse of the American economic system is staged the same way that the USSR staged their after their Afghanistan war.
I saw some of these protesters holding up 9/11 Truther signs, but this was ignored by the media. Why? Many of the 9/11 Truthers are radical Leftists and Muslims that blame Bush and Israel for 9/11. They are propagandists for the enemy and they are doing this to confuse the sheep away from the real culprits. The International Marxists and Muslims.

The goal is to shatter U.S. economy and spread it's military around the globe to ensure it's defeat via bleeding to death by 1,000 cuts of a sword. It is working like a charm as you all walk around like zombies saying "Never Forget". Never Forget what? The REAL WAR hasn't even started yet folks. Don't worry, you will "Never Forget" the next 9/11 either.

October 3, 2011

Is Russia Ruled by a Secret Politburo?

It has recently come to light that Prime Minister Vladimir Putin is going to run for the presidency of Russia next year. Last March, while visiting Russia, U.S. Vice President Joseph Biden advised Putin not to run. After all, it is beginning to look as if Putin is a dictator. First, Putin is the President of Russia for two terms.

Next, Putin becomes prime minister while an apparent stand-in (President Dmitri Medvedev) openly admits that his authority is less than that of Putin. Recently Putin announced his intention to serve another presidential term. We ought to ask if Putin is a dictator? Does he decide everything on his own? The answer to this question was recently given by a retired East European politician.

During a broadcast of Shuster Live [1], former Ukrainian President Leonid Kravchuk publicly stated that the real rulers of Russia are “one step above” Prime Minister Putin and President Dmitri Medvedev. “The situation in Russia became such that not one or two people run the country,” Kravchuk explained, “Putin and Medvedev do not determine the future of Russia and the world. Another group determines the policy.”

The other television guests, along with the host (Mr. Shuster), listened attentively to Kravchuk’s explanation.

Nobody jumped up to contradict him. He spoke carefully, in a calm voice, sometimes smiling as he spoke.

Kravchuk’s manner had the authority of one who knows. The live audience applauded Kravchuk’s statement, which warned that the thinking of the Ukrainian government was mistaken. The Ukrainian government thinks it can build a relationship of friendship with Russia, he said, but there is no friendship.

“Russia is ruled not by one or two individuals but by a group of people,” Kravchuk explained. “Russia has not yet identified the names, but this is a real fact.”

The End of Europe's Fantasy is Now in Sight

October 2011


Last toast: The fall of the Berlin Wall has rendered the EU out of date (Wolfgang Kumm/DPA)

Almost overnight, euroenthusiasts have folded their tents and abandoned the field. Television editors, unable to find any elected representatives prepared to argue for closer integration, keep having to make do with a former Labour MEP called Richard Corbett, who now works for European Council President Herman Van Rompuy. Barely a week passes without another pro-Brussels columnist turning his coat and claiming to have had his doubts all along (Matthew Parris and Max Hastings are among the most recent to have issued gracious recantations). Paddy Ashdown, a long-standing federalist, now says that it would be better for the single currency to break apart.

Commentators who have spent years singing paeans of praise to the European project are chanting threnodies over its coffin. No less an Establishment europhile than Sir Stephen Wall, the man who ran Britain's European policy under John Major and Tony Blair, now says: "We have seen the high point of the European Union. With a bit of luck it will last our lifetime, but it's on the way out." Sir Stephen is 64.

I can't help feeling that we're getting a little bit ahead of ourselves. We empirical British often make the mistake of thinking that, because something can't work, it won't happen. It's what we said about Soviet Communism and, of course, we were ultimately right. But it wouldn't have been much fun to have been born in Moscow in 1910 and lived through the process of it not working. There is, as Adam Smith said, a deal of ruin in a nation — or in a union.

October 2, 2011

The EU dream has turned into a nightmare


The euro project was always based on a colossal act of make-believe - and now it is unravelling.
 
Seeing stars: EC President José Manuel Barroso’s proposal is ‘mad’ - The EU dream that has turned into a nightmare
Seeing stars: EC President José Manuel Barroso’s proposal is ‘mad’ Photo: REUTERS
Since Britain’s share of the EU’s financial markets is 72 per cent, the cost to the UK would thus be up to £50 billion. But that wouldn’t last long because, as the Commission itself admits, such a tax would soon send the financial industry fleeing out of the EU, destroying the biggest single earner in the UK economy. 
George Osborne may be right in saying that Britain would veto Mr Barroso’s proposal. But the very fact that the ex-Maoist in charge of the Commission should suggest anything so suicidal is a measure of just how surreal this crisis is becoming. 

Equally bizarre was the spectacle of Germany’s MPs defying the wishes of most of the German people by supporting the EU’s £380 billion bail-out fund, to pour much of it into the bottomless pit of Greek debt, which has reduced the Greek people to a state of catatonic trauma. The peoples of the EU’s richest and poorest countries are thus equally powerless in the face of what amounts to a bureaucratic dictatorship of unelected apparatchiks – who, in a vain bid to save their pet project, are now talking about the need for a further bail-out fund of £1.7 trillion,