Previously by Ron Holland: Will Congress Declare a Trade War Against China?
"Consider that the entire Western world is outraged that the Greek prime minister announced that he is going to permit the Greek people to decide their own fate instead of having it decided for them by a handful of banksters, politicians, and bureaucrats".
~ Paul Craig Roberts
Roberts is right, the monetary and political elites only like democracy when they know they can game the system and control the outcome of the election. German Chancellor Merkel, should support giving the Greek people the right to vote on the imposition of crippling austerity measures. In fact, given the EU problems today, every member nation should have a referendum on whether to stay or leave the EU since most countries never allowed their citizens to vote yea or nay on joining in the first place. My question is what kind of union is against democracy and voters having their say on important issues or where politicians bypass voters and suddenly announce new leaders without elections?
Even Reich Chancellor Hitler supported plebiscites and this is far more than we can say for Merkel or the European Union. We all know how earlier referendums on EU membership were curtailed when the elites discovered citizens in most countries would intelligently vote to oppose joining the European Union. This is why the British people have been prohibited from voting on EU membership. The banking and political elites demand each nation march to the tune of the International Monetary Fund, the European Central Bank and Berlin regardless of what is in the best interest of individual EU nations.
Bypassing the Voters Yet Again
Now the Greek and Italian prime ministers have been replaced by an EU coup d'etat with suitable EU candidates approved by Germany and the banks to make sure there is no question that the over taxed citizens of these nations as well as the other PIGGS will surely be taken to the EU slaughter house and gutted without delay. The Greek parliament appointed Lucas Papademos (former European Central Bank VP) and the Italians appointed (former European Commissioner) Mario Monti to replace Silvio Berlusconi. Mario is an advisor to Goldman Sachs which helped create the worldwide sovereign debt crisis and he is a leading member of the Bilderberg Group and the Trilateral Commission. Therefore we know where the loyalties of this EU Quisling puppet are and they certainly aren't with the people of Italy.
EU style democracy requires that national leaders should always be loyal first to the European Union and the banks invested in government debt rather than to the citizens of the former sovereign nations. They must agree to continue to borrow more so the new sovereign debt loans can be used to pay interest to the banking oligarchs. Only a miniscule amount of the new borrowing is for the nation or the future generations that will be impoverished by the debt load. Finally, a necessary amount of graft is built in for the leading political interests and the rest is earmarked for payment back to the foreign banks so they will receive their interest payments.
Saving the Union & the Banks What Ever the Cost
"As currently constituted, a single currency may serve the One Europe designs of France and Germany, but make Greece and the other Mediterranean states nothing more than the victims of a northern conquest." — Peter Morici, professor at the Smith School of Business, University of Maryland
This all happened before in the United States 150 years ago. I wonder if Merkel's goal is to become the Abraham Lincoln of the European Union. After all if she "saves the union" then the loss of individual state sovereignty, the destruction and theft of private wealth and decades of resulting poverty and tax revenues used to bailout the leading European banks can all be covered up by news media and historians supported by the EU.
Formerly sovereign states in the United States wanted out of the American union and they voted to withdraw. Washington's response was an invasion and the Confederate States were totally destroyed and in the process over 600,000 Americans were slaughtered in the war. It took over a century for the southern states to recover economically from the war and reconstruction aftermath. Of course, all of this was hidden and covered up following the war because the Union won. This is the intent of Merkel and the EU to survive at any cost.
Any rational observer can see how the supposed national bailouts are actually banking bailouts funded by both the northern European taxpayers and those in the south who will be impoverished and economically crippled by the EU enforced austerity measures. When current political leaders in the PIIGS countries are unable or unwilling to sellout their nations in exchange for more loans to benefit the German and French banks, they are replaced by new politicians who will follow orders. This is quite an easy process because the EU proponents have already used graft, blackmail and funding to buy the parliaments earlier to force the nations into the EU against the wishes of the citizens.
The Warnings of Economic Chaos Are Correct
Well of course the bankers and eurocrats warn of chaos but this will happen whether the countries remain inside the EU or escape. But the chaos will be far worse for the banks that bribed corrupt politicians and voting blocks in the individual nations of Europe to accept the EU, if the major guilty banks fail.
How could there not be chaos when nations following the Goldman Sachs model at the urging of the banks borrowed money they could never pay back and then the banks leveraged this sovereign debt 26 to 1. Note bank average leverage is 9 to 1 and this can only works in the best of times. In other words, just a 5% fall in asset prices can destroy the entire equity position of a bank. Sovereign debt values will likely fall many multiples of 5% so you can see what is down the road.
EU Nations Should Leave Sooner Rather Than Later
The only question is should the countries face chaos now before the individual nations and citizens are impoverished by the EU or later when the nations are destitute. Over indebted EU nations like Greece, Italy, Spain, Portugal and Ireland should repudiate their national debts, leave the EU and return to their own sovereign currencies with a haircut in value now so their economics can grow and export again. The alternative is to wait too long like Greece probably has after EU enforced austerity; confiscatory tax levels and loss of national sovereignty have destroyed the country.
I believe the individual EU nations and their economies would do far better to return to national sovereignty and currencies under a political leadership at least somewhat loyal to the citizens and nation. Continuing with the false premise that a distant all-powerful cabal of European Union, central bankers and monetary elites buying off domestic politicians that have destroyed the economy can somehow solve the problems they created in the first place is the wrong solution.
Europe suffered tens of millions killed during two world wars and massive destruction and dislocation twice because of a few wealthy families and banking elites. It is time for both Europe and America to learn from our past mistakes.
If your parents and grandparents enjoyed the Great Depression, the rise of fascism, the two world wars and the cold war where all of Eastern Europe was under the boots of Soviet occupation then follow the establishment false hope and promises of a stronger more centralized EU. I fear our new 21st century with sovereign debt and currency collapse along with endless wars will become a carbon copy of the 20th century.
Leave the EU Casino Now
The banks will be bailed out and the EU will survive regardless of the cost as long as there are citizens to rob and wealth to confiscate to support the banks. The casino is rigged and taxpayers will lose. So get ready for what could be the biggest bank run and sovereign debt collapse in world history. It will begin in Greece, Italy and Spain but the panic will quickly run through most of Europe ending where the banking scam all began on Wall Street and inside the boardrooms of Goldman Sachs. Remember both the leaders of the European and American Unions and the banking elites consider themselves a cut above the rest of us. They will not protect us but rather loot our remaining wealth and liberties so they can survive the economic crisis they created.
Ron Holland [send him mail] is a contributing editor to the Swiss Mountain Vision Newsletter and Chairman of the Advisory Board of the Foundation for the Advancement of Free-Market Thinking (FAFMT) in Vaduz, Liechtenstein.