The Jesuit New World Order

Tuesday, 14 February 2012


The Coming Crash of the Euro






The Euro is a flawed currency
Let me give you a little background. Back in the 1980s the leaders of Germany and France conceived an idea for a single currency. On the surface and in their speeches and rhetoric they said that having a single currency would unite the European economy and make it more efficient and productive. But really, their motive was political. It was to create a currency that would challenge the U.S. dollar.

The idea was certainly grand, but it lacked a basic underpinning. In truth it was not designed with the principles of good economics, but rather, on political considerations only. 

Under a single currency all countries that adopted the euro would have to give up their own monetary sovereignty. In other words, countries like France and Germany would have to stop issuing French francs and Deutsche marks and as such, they could no longer conduct independent monetary and fiscal policy. They went from being currency issuers (a status that has enormous benefits) to being currency users.

Political leaders pushed on with their plan and made everyone believe it was a great idea. Eventually the day came in 1999 when the euro became the official currency of 11 European nations. Many other nations have since joined.

The good times rolled along and the euro became embraced by investors and many of the world's central banks. The value of the euro went from 80 cents in 2001 to nearly $1.55 by 2008. It had practically doubled in only seven short years. There was even talk of the euro eventually supplanting the U.S. dollar as the world's main reserve currency. Everybody was hopping on board and the euro started to look like an unbelievable success. But the euro's fortunes were about to hit a brick wall!

When the global financial crisis hit, in the midst of the chaos and panic that ensued investors throughout the world clamored for the safety of the U.S. dollar. Little was understood in the beginning and it was thought that America was facing the greatest difficulty, but soon it became clear that Europe had far worse problems and lacked the means to address them. . 

Eurozone countries are like states in the United States
What the economic crisis exposed so clearly was that the European countries no longer had the power to employ fiscal policy to support collapsing demand. Where countries like the U.S. and China have the ability to come in and stimulate their economies to whatever degree necessary to avoid a true depression,  European nations can't. In essence they have become like states in the United States and simply aren't able to issue currency to "print" their way out of a major downturn. 
Strapped for cash and with no overriding fiscal authority to support their economies, European countries are now finding themselves in deep, deep, trouble. That is setting up a goldmine of an opportunity for smart investors.
Read on...

It may help to think of it like this: if a state in the U.S. is strapped for cash then it is pretty much out of luck. The only thing it can do is dramatically cut back on services and spending. That would mean less police, fireman, teachers, road maintenance and many of the other essential things that residents in any state are used to. Or, it could tax its residents to death, which would cause people and businesses to move, collapsing revenues even further and triggering off a death spiral. 
When push comes to shove only the Federal Government can bail out a state, but that's the difference. In the United States there is an overriding fiscal authority in the Federal Government that can come to the aid of an individual state, but in Europe there is none! There is no "Federal Government of Europe." This means if countries like Spain, Greece, Portugal, Italy or even France or Germany for that matter are strapped for cash they are in serious trouble with very little recourse.

Of course the European Central Bank, which has unlimited ability to print money just like the U.S. Government, however, the ECB is precluded by the Maastricht Treaty--the document that is the governing framework of the European Union--from bailing anyone out, let alone a member state. Moreover, even if it could, the ECB's anti-inflation mandate would likely keep it from doing so no matter how dire the situation got.
And the situation is getting bad...real bad.
Remember Argentina in 2002...
Right now the country facing the most difficulty is Greece, which has a small economy, but it's of big  importance because it is viewed as the weakest link in the chain.  Greece is struggling with high debt and no means to stimulate its way out. It is being forced to adopt austerity measures and that is triggering layoffs and cuts in services. 
As the crisis continues to unfold we are now seeing protests and riots erupting in the streets of Athens. The very fabric of society is fraying and the government is trying to maintain calm, but the clashes are becoming more frequent and more violent.
Back in 2002 this was happening in Argentina. At the time Argentina's currency was pegged to the U.S. dollar, which meant that its monetary and fiscal policy was effectively neutralized. By pegging to the dollar Argentina did not have the power to create money and stimulate the economy. That was effectively transferred to the Federal Reserve and the U.S. Treasury, which were the monopoly issuer of dollars. 
The problem for Argentina, however, was that neither the Fed nor the U.S. Congress and the Treasury were concerned about its economy.  Rather, they were only concerned with the economy in the U.S. and when the Fed starting raising interest rates it drove up the value of the dollar and that caused Argentina's exports to collapse, causing a domino effect of economic contraction and bank failures.

Argentina's central bank could not counter this by printing money to offset the monetary economic and credit crunch that was occurring. Soon there was literally blood in the streets as banks were closed and rioting ensued. People were killed. The situation become so grave that eventually, the country had no other choice...it would either have to continue the way it was going and watch the society devolve into chaos or it would break the peg with the dollar and reissue the peso. It chose the latter and within weeks the situation improved. Banks reopened, violence stopped and the chaos ended. The economy rebounded and the Argentine stock market was the best performer from 2002 to 2006. The point is, it had to break the dollar peg so that it could be freed to pursue its own monetary and fiscal policy.
Europe will be the new Argentina!

Violence erupting in the streets!
Now we see the same sort of thing happening in Greece. People are rioting in the streets and protesting the imposition of austerity measures that are leaving families without the means of support, even without food in some cases. It's getting worse by the day. The politicians are forcing this on the Greek people, but it can only be done with heavy handed crackdowns, which are not working because we see that the protests are escalating.

The Greek government is caving in to demands from bureaucrats in Brussels who are telling them that they have to cut back on spending, which means laying off more and more workers. The hardships in society are rising and the demonstrations are gaining momentum and becoming more chaotic by the day. History shows that popular discontent can lead to the overthrow of governments if that discontent becomes severe enough and this is no garden variety recession, but a major and long lasting economic downturn.

How long can the Greek government continue to hold back this disorder? It's hard to say but as each day passes the pressures are mounting. The irony is, the solution to their problem lies right in front of their noses. If they were to leave the euro and begin reissuing their own currency, their problems would go away almost overnight. The temptation has got to be great.

Greece is not alone, there are four other countries that are "terminal" with respect to their deficits and they are having the same demands being placed upon them. One of them is Spain, a fairly large economy in Europe with a population of 40 million.
Where do the Europeans get the money to bail out Greece or if necessary, the others that are on life support? The answer is, they have to borrow it or take it from the savings of the people in wealthier nations like Germany. But even Germany no longer has a truly independent fiscal authority that can create money. The amount of money they have to lend or to be used to bail anyone out another anyone, let alone another nation is limited. They are done!



The great, Nobel Laureate economist, Milton Friedman once said that the euro experiment would not last more than a decade. Well, it’s been a little bit more than a decade but the cracks are showing and they are widening by the minute.

Speculators have seized upon Europe's troubles and are now hammering the euro. The price of credit default swaps, which are instruments that allow investors to bet on the likelihood of a default, are skyrocketing. That is a sure sign that savvy speculators believe that a collapse is imminent!
The credit default swaps of European countries is rising and in the case of Greece they have gone parabolic. Billions in speculative bets are pouring in making the collapse almost a "fait accompli.". The rating agencies like S&P, Moody's and Fitch have already downgraded Greece's credit and they are closely watching the other countries. Any further credit downgrades would be fatal because it would raise the cost of borrowing when they already can't afford to pay for basic services.
These countries are on the brink and there is nothing they can do!

Was Milton Friedman right?
Before the launch of the euro in 1999, Milton Friedman predicted that the Eurozone would not survive its first economic crisis.

He noted that in a world of floating exchange rates, if one country faces a shock, it could simply respond by letting the exchange rate change. But with the arrival of the euro, that option is no longer available.

Mr. Friedman also highlighted the case of Ireland. In 2001, he said the country should have been tightening its monetary policy but couldn't because it was tied into the new European currency. "The European Central Bank makes monetary policy for the whole of euroland."

In the absence of currency flexibility, analysts say competitiveness can only be regained through real economic adjustment such as labour reductions and downward wage adjustment.
We hear talk of a bailout, but by whom? Only the ECB can truly bailout Greece or one of the other European nations, but it's precluded to do so by the Maastricht Treaty, which is the framework of European governance. So where will the money come from? From investors around the world who are now asking for ever higher interest rates because of the risk that goes with lending to these shaky economies? These are loans that Europe surely can't afford!
Some people believe Germany will step up to save the weaker peripheral countries of Europe. But even Germany, the largest economy in Europe, is no longer a currency issuer. It cannot simply "print money" as it could in the old days of German reunification to help Greece and the others that are in trouble. Germany would have use the savings and wealth of its own citizens to save a non-German state. Let me ask you...how popular, politically, do you think that would be? I can tell you this, it's not like Americans in New York helping out Americans in California. We're all Americans, but in Europe, national pride still runs deep and there is populist resistance to this type of a bailout.. It's no wonder, then, why German Chancellor Andrea Merkel throws cold water on the idea every time you hear her comment on some new report that Germany was about to write a check for Greece.
What if we don't get a bailout? Then that means Greece simply knuckles under to the demands of the bureaucrats and the financial markets and it will have to continue to cut spending dramatically. This will lead to a cycle of collapsing demand in an already weak economy, which will lead to spiraling lower economic activity and a further rise in deficits. That prescription is painful and bound to increase the level of unrest. It's a no win situation. It will fail.

Then the question becomes, if Greece goes, who's next? Spain, Italy, Portugal and Ireland all face the same debt bomb with no easy way out. Even Germany and France are not immune. If they are seen lending a helping hand to these weaker nations then their own bond markets will come under speculative attack as well. 

No choice...the euro must devalue!
At the moment it appears as if exit from the euro is the choice of last resort for Greece and the other nations in question, however, like the path chosen by Argentina back in 2002 it's the fastest and easiest route to recovery. Ego and pride are keeping the Greeks and the Europeans from allowing this to happen. Political leaders are trying everything to put the best face on this and hold the euro together, but is there really any chance of saving the euro from collapse? It seems unlikely. In fact, it is becoming very obvious to some of the world's most savvy investors that the euro cannot exist under the current structure.
This means there will soon be huge profits to be made!
Even if the European countries all toe the line and impose austerity measures to reduce deficits it will only make things worse. It would lead to collapsing demand across the continuant and economic growth would plunge, thereby raising deficits even higher and causing credit downgrades. This in itself would trigger a selloff in the euro, as investors react to this death spiral. The European Central Bank would be forced to inject huge amounts of liquidity into the financial system to avoid a total payments crisis. The euro would plunge in response. Tuesday 14 February 2012

Prepare for riots in euro collapse, Foreign Office warns

British embassies in the eurozone have been told to draw up plans to help British expats through the collapse of the single currency, amid new fears for Italy and Spain.

British expats braced for collapse of Euro
The Treasury confirmed earlier this month that contingency planning for a collapse is now under way Photo: BLOOMBERG


As the Italian government struggled to borrow and Spain considered seeking an international bail-out, British ministers privately warned that the break-up of the euro, once almost unthinkable, is now increasingly plausible.
Diplomats are preparing to help Britons abroad through a banking collapse and even riots arising from the debt crisis.
The Treasury confirmed earlier this month that contingency planning for a collapse is now under way.
A senior minister has now revealed the extent of the Government’s concern, saying that Britain is now planning on the basis that a euro collapse is now just a matter of time.
“It’s in our interests that they keep playing for time because that gives us more time to prepare,” the minister told the Daily Telegraph.
Recent Foreign and Commonwealth Office instructions to embassies and consulates request contingency planning for extreme scenarios including rioting and social unrest.
Greece has seen several outbreaks of civil disorder as its government struggles with its huge debts. British officials think similar scenes cannot be ruled out in other nations if the euro collapses.
Diplomats have also been told to prepare to help tens of thousands of British citizens in eurozone countries with the consequences of a financial collapse that would leave them unable to access bank accounts or even withdraw cash.
Fuelling the fears of financial markets for the euro, reports in Madrid yesterday suggested that the new Popular Party government could seek a bail-out from either the European Union rescue fund or the International Monetary Fund.
There are also growing fears for Italy, whose new government was forced to pay record interest rates on new bonds issued yesterday.
The yield on new six-month loans was 6.5 per cent, nearly double last month’s rate. And the yield on outstanding two-year loans was 7.8 per cent, well above the level considered unsustainable.
Italy’s new government will have to sell more than EURO 30 billion of new bonds by the end of January to refinance its debts. Analysts say there is no guarantee that investors will buy all of those bonds, which could force Italy to default.
The Italian government yesterday said that in talks with German Chancellor Angela Merkel and French President Nicolas Sarkozy, Prime Minister Mario Monti had agreed that an Italian collapse “would inevitably be the end of the euro.”
The EU treaties that created the euro and set its membership rules contain no provision for members to leave, meaning any break-up would be disorderly and potentially chaotic.
If eurozone governments defaulted on their debts, the European banks that hold many of their bonds would risk collapse.
Some analysts say the shock waves of such an event would risk the collapse of the entire financial system, leaving banks unable to return money to retail depositors and destroying companies dependent on bank credit.
The Financial Services Authority this week issued a public warning to British banks to bolster their contingency plans for the break-up of the single currency.
Some economists believe that at worst, the outright collapse of the euro could reduce GDP in its member-states by up to half and trigger mass unemployment.
Analysts at UBS, an investment bank earlier this year warned that the most extreme consequences of a break-up include risks to basic property rights and the threat of civil disorder.
“When the unemployment consequences are factored in, it is virtually impossible to consider a break-up scenario without some serious social consequences,” UBS said.






 PROPHECY. EU BABYLON ANTICHRIST A MUST SEE VIDEO


Europe in Bible Prophecy

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The Woman on the Beast
The symbol of 'a woman riding a beast' is now widespead, and particularly in the European Union. For example, it is seen:
  • in the German Maritime Museum
  • on the campus of The University of Tennessee
  • on various Euro coins
  • on a German phone card
  • in a large painting in the EU Parliament building, Brussels
  • in a mural in the EU Parliament building in Strasbourg
  • as a sculpture outside the Council of Europe building in Brussels
  • in Time Magazine (a united Europe)

Europa carried away by a bull (German Maritime Museum)
Europa carried away by a bull
(German Maritime Museum)
Image courtesy Hannes Grobe.
See wikipedia.org

EU commemorative coin showing Europa and the bull
EU commemorative coin showing
Europa and the bull
Image courtesy European Central Bank

More Interesting EU Symbols
EU flag
EU flag: the 12 stars probably have
deep Roman Catholic significance

EU poster: Europe: Many tongues one voice
EU poster:
EUROPE: MANY TONGUES ONE VOICE

The EU Parliament building, Strasbourg
The EU Parliament building, Strasbourg
Image courtesy Lukas Riebling.
See wikimedia.org

Pergamon Altar at Pergamon Museum, Berlin
Pergamon Altar, Pergamon Museum, Berlin
Image courtesy Raimond Spekking.
See wikimedia.org


From Europa to Europe

How did Europe gets its name? Is there some prophetic significance in the name or its origin?
Let's consider a little Greek mythology. The favoured story goes that Europa, a Phoenician woman of high lineage, was seduced by the god Zeus and carried away to Crete. Zeus did this by disguising himself as a beautiful white bull and coaxing Europa to climb onto his back. Once there, he carried her off into the sea and on to Crete, where he raped her. Europa then became the first queen of Crete. The Romans adopted the myth but substituted their god Jupiter for Zeus.
It is claimed that Europa later stood for mainland Greece (recall Crete is an island off the SE corner of Greece) and then to lands north of Greece. Certainly, 'Europa seated on a bull' has been a motif in European art since Greco-Roman times, and in the eighth century Europa gained ecclesiastical usage under Charlemagne. Today, Europe is called Europa in the German language and in most other Germanic languages (except English). The actual term 'Europe' is generally derived from the Greek 'eurys' (broad) and 'ops' (face), which is an allusion to 'the broad face of the earth'. The strong Greek connection could be very significant in that Greece could be the country of origin of the final world dictator (see below).
Why is the Europa symbol (a woman on a beast) so widespread? Is it merely symbolising Europe or is there prophetic significance? Consider:
"... and I saw a woman sitting on a scarlet beast, full of blasphemous names, having seven heads and ten horns."
(Rev 17.3)
This prophecy refers to the end time world system, and a common interpretation is that the woman symbolises an 'ecclesiastical Babylon' and the beast symbolises a 'political and commercial Babylon'. Revelation 17 describes the woman as 'Babylon the Great' whilst Rev 18 describes the fall of a commercial Babylon. In simplistic terms, a corrupt apostate church rides (and therefore by implication, controls) a corrupt and brutal political and commercial system. If Europa (Europe) really is a fulfillment of this prophecy then there must be other signs.

Europe's Apostasy and Idolatry

The Flag: Do we see an 'ecclesiastical Babylon' in Europe? The European Union (EU) flag comprises 12 golden stars on a blue background. Officially it is claimed that the circle of 12 stars represents 'solidarity and harmony between the peoples of Europe', the number 12 denoting 'perfection, completeness and unity' (in the Bible, 12 denotes 'governmental perfection').
An alternative explanation is that the flag was inspired by the halo of 12 stars around Catholic pictures of the Madonna and is an interpretation of Revelation 12.1. The Catholic church claims that the woman in Revelation represents the Virgin Mary or 'Mother of God', whereas Rev 12.1 actually refers to the woman 'Israel' and the 12 tribes of Israel. The EU flag could therefore have strong Roman Catholic significance and the 'ecclesiastical Babylon' could be be Vatican centred. The Bible supports this idea. For example, Rev 17.9 says that the woman sits on 'seven mountains' (ancient Rome was built on seven hills) and is clothed in purple and scarlet (Cardinals dress in scarlet or red and Bishops dress in purple).
The Vatican: In what sense is the woman riding the beast? It interesting that the Vatican is recognised at the UN as a sovereign state and the Pope has full rights as head of state to address the UN General Assembly. The Vatican can therefore influence debate at the highest level. Also, the Vatican has diplomatic relations with many nations and affects the laws of these nations.
Revelation 17.5 describes the woman as 'mother of harlots'. In the spiritual sense a harlot is one who commits spiritual fornication i.e. a church which leaves fundamental biblical teaching and compromises with the world. The Vatican has done this through interfaith meetings, where 'God' but not Jesus Christ is centre stage.
The Babel Connection: Babylon originated as the city of Babel and quickly degenerated into idolatry. Babel is well known for its (unfinished) tower, a monument to the greatness of man rather than to God. Today, the EU Parliament building in Strasbourg is modelled on this biblical structure, with a clear 'unfinished' appearance. An EU poster, known as 'the construction site poster', showed a painting of the partly constructed tower of Babel, with a crane in the background. It showed inverted stars above the tower (an inverted star is a witchcraft symbol) and the logo was 'EUROPE: MANY TONGUES ONE VOICE'. This glorification of man and unification against God is precisely why God destroyed man's efforts in Gen 11. A repeat performance is prophesied at the end of the age.
The Pergamon Connection: Berlin's Pergamon Museum exhibits ancient treasures such as the Pergamon Altar and Babylon's Ishtar Gate. The museum's objective is to exhibit major cultures such as those of Egypt, Mesopotamia (Babylon), Greece and Rome (note that these are the precise kingdoms seen by Daniel in his vision of the great statue - Dan 2). The Altar (built 2nd century BC) was dedicated to Zeus and the freeze under the altar represents the struggle of gods and giants. It was destroyed during the first century AD, but was excavated by German archaeologists in the late 1800's and reconstructed in Berlin.
The fact that these archaeological treasures are now restored (and idolised) in Europe could be significant. In Roman times Pergamum (Pergamon) was the centre of the imperial religion, and Christ saw it as the seat of the power of evil i.e. "Satan's throne" (Rev 2.13). This is because the God-given power of the State had been harnessed to the blasphemous worship of man (the emperor), and those not loyal to the State were executed (Rev 2.13). So a building central to Satan's throne now stands virtually complete in Berlin! This monument came from a city where man not God was worshipped. Is it significant that the Lisbon Treaty (formerly the EU Constitution) omits reference to God or Christianity (see also Reject the Lisbon Treaty)? Is Europe preparing the seat of the final world dictator in Rev 13 - a man who will demand to be worshipped as God?

The 'Beast' of Europe?

A Political Dictatorship: Do we see a 'political and commercial Babylon' in Europe? Today, the EU is very much a political system, although it lacks democracy. The EU Commission is an unelected body of people (one for each member country) appointed by national governments for 5 years. The Commission President has very significant power. It meets in secret and enjoys a substantial degree of independence in exercising its powers. It has the right to propose legislation, and it does not take instructions from any national EU government! The EU Council (which is also unelected by EU citizens and meets in secret) is the EU's main decision-making body i.e. it makes EU policy. The 2009 Lisbon Treaty created a permanent President of the EU Council, the stated objective being 'to give the EU strategic leadership on the world stage'.
The EU Parliament (officially based in Strasbourg) is elected collectively by EU citizens but unlike national parliaments it does not have powers to initiate new laws; it can only accept, reject or put forward amendments to laws proposed by the Commission. According to the 2009 Lisbon Treaty, the maximum number of members (MEPs) or seats in the European Parliament is 751, although the actual number fluctuates. With such a large number of MEPs, the Parliament claims to be the second largest democratic electorate in the world (after India). But if the Parliament cannot initiate laws, isn't this a phoney democracy? Moreover, some claim that seat number 666 is vacant!
Essentially then, the unelected Commission proposes new laws, and the Parliament and Council adopt them. The laws come down to member states as directives and they are helpless to amend or reject them. Directives must be incorporated into Member State law. To many, a political system which behaves in this way is a dictatorship! Read more at inconvenient EU truths.
EU law is enforced by the European Police Office (Europol) - the EU criminal intelligence agency. Europol is nationally invasive, spanning all 27 member states. For example, under EU law (Corpus Juris) an EU citizen can be arrested and imprisoned without anyone having to produce evidence against them, whilst EU protocol on the privileges and immunities of Europol employees gives them immunity from prosecution. In the UK, Europol now has unfettered access to political affiliation, routine, places frequented, DNA, tax obligations, voiceprints, and sexual preference of individuals for purposes of collecting criminal information. The EU is also developing its own army (initially 60,000 strong), independent of NATO.
Given what is essentially an EU political dictatorship with several powerful Presidents, an increasingly invasive EU police force, and a fledgling EU army, we might ask if these are the seeds of the end time dictatorship prophesied in Rev 13?
A Commercial Babylon: What about the commercial aspects? Babylon was a city of glory and splendour, and was the chief commercial city of the Tigris-Euphrates region. The end time Babylon has similar commercial ambitions. The EU’s common trade policy operates at two levels. Firstly, within the World Trade Organisation (WTO), it is actively involved in setting the rules for the multilateral system of global trade (as such it is one of the key players in the WTO).
Secondly, the EU negotiates its own bilateral trade agreements with countries or regional groups of countries. For example, the EU and America are each other's main trading partners, and they exchange about 1.7 billion euros in trade each day! They are the largest players in global trade and together account for 57% of world GDP. Also, the EU is India's largest trading partner and China is the EU's second largest trading partner after the US. The enlarged EU of 27 member states is now China's largest export market. Clearly, the EU is rivalling America in terms of trade and may well be the leader of the commercial Babylon seen in Rev 18.

A Revived Roman Empire?

So is the European Union part of the end time scenario prophesied in the Bible? Is it even the leader of this end time World Government? Is it the 'revived Roman Empire' seen by many in Bible prophecy? Let's summarise some facts:
  • the Catholic undertones of the EU flag
  • the common 'Europa and the bull' symbol and its high correlation with Rev 17
  • the Babel poster with witchcraft symbols
  • the 'Babel-like' EU Parliament building in Strasbourg
  • the Lisbon Treaty omits reference to God or Christianity
  • the international political role of the Vatican correlates well with the apostate, controlling church in Rev 17
  • the emphasis on ancient cultures (godless world kingdoms), especially that of Pergamon (Satan's seat)
  • the emerging EU superstate which appears more like a dictorship than a democracy
  • the undemocratic Corpus Juris legal system
  • the emerging police state, which correlates well with the 'crushing' nature of the final world empire (Dan 2.40)
  • the emerging EU army, independent of NATO
  • the EU trading capability that is rivaling that of America
If you feel that the EU is part of, or even potential leader of the end time world system, then you can investigate this further by looking at the total end time scenario; see The Last Years of this Age. This study suggests for example that Greece could be the country of origin of the final world dictator, and it is interesting to see the emphasis the EU places upon Greece!
Whatever your viewpoint on the EU, the Bible says there are Steps You Must Take. It warns that you must give your life to Christ and not to the coming World Government!





THE EU GLOBAL SLAVERY watch this video 









As the economic pressures on Greece and the other European countries mount they are faced with a new and dangerous enemy: large speculative funds that are circling like hungry sharks, ready to bite huge chunks out of these bleeding economies. In some cases they are the very Wall Street investment banks like Goldman Sachs, who had worked to hide much of Greece's debt over the past few years by designing derivatives that would make it look like the country's finances were better than they really were. 
Goldman and other big market players have now become turncoats and are actively shorting the debt of Greece or buying credit default swaps, bets essentially on a default. Greece’s small economy is easy prey to these financial vultures and without the backing of the EU against these predators Greece is surely doomed. Moreover, this would represent an enormous score for these Wall Street speculators who would feel empowered as never before in the knowledge that they could successfully target and bring down entire countries. Next in line will be Spain, then Italy and the rest of the struggling periphery. Even Germany and France would not be safe.

World Bank and the IMF


“The poor complain, they always do,
but that’s just idle chatter.
Our system brings rewards to all,
at least to all who matter.“

~Gerald Helleiner, Canadian developmental economist.
There are clear connections between monetary and trade policies, and the poverty that sets the stage for human trafficking. The World Bank and International Monetary Fund (IMF) are two of the most powerful players in the world, who, by providing aid and loans to poor countries, can dictate a country’s economic policies. The policies of the World Bank and the IMF exacerbate the problem of poverty by imposing huge debts on developing nations and forcing governments to cut back such vital social services as education and medical care in order to pay back the debt. The IMF and World Bank also require countries to roll back labor laws, open up to foreign investors and trade and privatize essential services, including pensions. These policy reforms result in an increase in poverty, child labor, and  worker exploitation.
Haiti has, for too long, been the poorest nation in the Western Hemisphere. Yet just 15 years ago they exported rice. Then, in 1995, under pressure from the IMF and the United States, Haiti was forced to cut tariffs on rice imports from 35 to just 3 percent. Haitian farmers were completely unable to compete with heavily subsidized foreign rice. The U.S. Department of Agriculture doled out 177 billion dollarsin farm subsidies to U.S. agribusiness between 1995 and 2006. Three quarters of that amount went to just 10 percent of the recipient corporations. The biggest winner was Riceland Foods in Arkansas, the world’s largest rice miller and marketer. As imports to Haiti grew by 150 percent, many farmers had to abandon their farms and join the teeming underclass in Haiti’s slums. Haiti no longer exports rice and food shortages are ever-present. The most desperate are reduced to offering their children dried cakes of mud to fill their empty bellies. Today, three quarters of Haiti’s rice comes from the United States while more than a half million Haitians are trafficked to slave in the sugar fields of neighboring Dominican Republic, domestic slavery is institutionalized in the restavec system, and a 9-year-old Haitian girl can be bought as a sex slave for $50.
In today’s global economy, the rich are getting richer and the poor are getting poorer. The assets of the world’s three richest people exceed the total incomes of the 600 million people living in the world’s poorest 48 countries. In the unfettered free market of so-called free trade, corporations race to see which one can find the cheapest labor and the fewest environmental and workers’ rights regulations. A key factor in world poverty is the inability of workers in many countries to form unions and to have a voice in the determination of their wages and working conditions. As a result, millions of the world’s workers labor long hours for wages that are insufficient to meet their basic needs. Thus are the seeds sown for abuse and exploitation at the hands of those who would profit from human trafficking.
World Bank / IMF Fact Sheet



Euro crisis: Dread of meltdown stalks US economy


Euro coin melted by a smith in Skopje, Republic of Macedonia, December 6, 2011
Just when things were starting to look up, the euro crisis is back in the headlines.
The American economy has been riding high on a wave of moderately good news.
The unemployment rate is at its lowest level in two and a half years, manufacturing appears to be picking up and early reports suggest that the holiday shopping season is off to a strong start.
But whatever recovery there is could be derailed by a looming crisis: Europe's debt drama.
America's finances are closely tied to what happens across the Atlantic, and the picture is not rosy.
"The situation in the euro area is rapidly deteriorating and contagion is spreading," said Pier Carlo Padoan, the chief economist of the Organisation for Economic Co-operation and Development (OECD).
The OECD recently released its semi-annual report on the global economy, which predicted that America could follow the eurozone into recession if Europe's debt crisis worsens.
Trade tremors
The Paris-based think tank also reduced its growth forecast for the world's largest economy to 2% in 2012.
Workers in a General Motors factory, Michigan file pictureMany US industries depend on demand for their goods in Europe for growth
Just six months earlier it was expecting an expansion of 3.1%.
The eurozone is the single biggest customer for American goods, so if they're not buying, US businesses suffer.
General Motors has already taken a hit. In November, the Detroit car giant reported a 12% drop in third-quarter earnings. The company blamed much of that decline on slower sales and higher costs in Europe.
"Clearly, things have deteriorated," said GM Chief Financial Officer Dan Ammann when the numbers were released.
"We need to adjust to the new reality."
The appliance maker Whirlpool is also struggling. With demand slacking off in Europe the company is planning to lay off more then 5,000 workers in North America and Europe.
"We are taking necessary actions to address a much more challenging global economic environment," Whirlpool chief executive Jeff Fettig said.
'Shattering'
Small companies are not immune to potential eurozone fallout either.

Crisis jargon buster
Use the dropdown for easy-to-understand explanations of key financial terms:
AAA-rating
The best credit rating that can be given to a borrower's debts, indicating that the risk of borrowing defaulting is minuscule.
Amy Galper founded the organic cosmetics company Buddha Nose. Roughly a quarter of her profits come from Europe.
In a beauty pop-up shop in New York City's West Village, Ms Galper chatted with Kim D'Amato, the brains behind the skincare line Priti NYC.
Ms D'Amato spends part of her year in France so she can be closer to overseas clients.
Surrounded by creams that promise to smooth away stress and tension, neither woman can ignore the fear of what a meltdown in Europe could mean for their businesses.
"I would say that most of the people I sell to are small businesses," says Ms D'Amato. "So it would be shattering."
Ms Galper, whose sales to Japan dried up after its devastating earthquake and tsunami in March, took the pre-emptive decision to cut her inventory - just in case.
"I'm kind of being conservative to be honest," Ms Galper says. "I'm not going to stock up too much because I don't want to have an overstock of things."
Follow the money
But even if exports to Europe did dry up overnight, there are more dire threats out there.
French President Nicolas Sarkozy, right, accompanies US Treasury Secretary Timothy Geithner in Paris on 7 December 2011President Obama has dispatched Treasury Secretary Timothy Geithner to Europe for talks with leaders
"More important are the financial linkages that could really hurt the economy," warns Carey Leahey, managing director of Decision Economics.
Put simply: a complete European meltdown could kick off a chain reaction that might lead to a global credit crisis.
Investors are already spooked and their fear has been driving down the share prices of some of the biggest names on Wall Street.
JP Morgan closed down 1.7% on Tuesday, despite being considered one of the strongest American banks.
So far, the worst has been averted.
The collapse of the medium-sized broker MF Global last month and the bailout of the Franco-Belgian bank Dexia in October has not come anywhere close to causing the kind of damage seen after Lehman Brothers collapsed.

Britain's Foreign Office Prepares For Riots In Europe; Sees Euro Collapse "When, Not If"







As every major developed economy hits Bass's Keynesian Endgame, the status quo is set to change dramatically. Nowhere is this climax playing out louder than in Europe and the implicit solution of Germany-uber-alles (while seemingly inevitable though nevertheless lengthy in execution) is likely to not sit well with many of the EMU nations. To wit, The Telegraph today reports that Britain's Foreign Office is advising its overseas embassies to draw up plans to help expats should the collapse of the Euro turn explosive. Almost incredibly, a senior minister has revealed that Britain is now planning on the basis that a euro collapse is matter of time.
British embassies in the eurozone have been told to draw up plans to help British expats through the collapse of the single currency, amid new fears for Italy and Spain.

As the Italian government struggled to borrow and Spain considered seeking an international bail-out, British ministers privately warned that the break-up of the euro, once almost unthinkable, is now increasingly plausible.

Diplomats are preparing to help Britons abroad through a banking collapse and even riots arising from the debt crisis.

The Treasury confirmed earlier this month that contingency planning for a collapse is now under way.

A senior minister has now revealed the extent of the Government’s concern, saying thatBritain is now planning on the basis that a euro collapse is now just a matter of time.

“It’s in our interests that they keep playing for time because that gives us more time to prepare,” the minister told the Daily Telegraph.

Recent Foreign and Commonwealth Office instructions to embassies and consulates request contingency planning for extreme scenarios including rioting and social unrest.

Greece has seen several outbreaks of civil disorder as its government struggles with its huge debts. British officials think similar scenes cannot be ruled out in other nations if the euro collapses.

Diplomats have also been told to prepare to help tens of thousands of British citizensin eurozone countries with the consequences of a financial collapse that would leave them unable to access bank accounts or even withdraw cash.

Fuelling the fears of financial markets for the euro, reports in Madrid yesterday suggested that the new Popular Party government could seek a bail-out from either the European Union rescue fund or the International Monetary Fund.

There are also growing fears for Italy, whose new government was forced to pay record interest rates on new bonds issued yesterday.

The yield on new six-month loans was 6.5 per cent, nearly double last month’s rate. And the yield on outstanding two-year loans was 7.8 per cent, well above the level considered unsustainable.

Italy’s new government will have to sell more than EURO 30 billion of new bonds by the end of January to refinance its debts. Analysts say there is no guarantee that investors will buy all of those bonds, which could force Italy to default.

The Italian government yesterday said that in talks with German Chancellor Angela Merkel and French President Nicolas Sarkozy, Prime Minister Mario Monti had agreed that an Italian collapse “would inevitably be the end of the euro.”

The EU treaties that created the euro and set its membership rules contain no provision for members to leave, meaning any break-up would be disorderly and potentially chaotic.

If eurozone governments defaulted on their debts, the European banks that hold many of their bonds would risk collapse.

Some analysts say the shock waves of such an event would risk the collapse of the entire financial system, leaving banks unable to return money to retail depositors and destroying companies dependent on bank credit.

The Financial Services Authority this week issued a public warning to British banks to bolster their contingency plans for the break-up of the single currency.

Some economists believe that at worst, the outright collapse of the euro could reduce GDP in its member-states by up to half and trigger mass unemployment.

Analysts at UBS, an investment bank earlier this year warned that the most extremeconsequences of a break-up include risks to basic property rights and the threat of civil disorder.

“When the unemployment consequences are factored in, it is virtually impossible to consider a break-up scenario without some serious social consequences,” UBS said.

1 comment:

  1. Ohlig & Puim, Hidden Origins of Islam shows name Muhammad first appears on coins in Syria as Islam was really monophysite Christianity rebelling from Greek oppression. Service book written by Chrysustolm, communist Syrian terrorist who sought to consumate the crimes his Seleucid forefathers were prevented from committing on Channukah, and wrote the hideous totalitarianism "Questioning is the subversion of faith" (Homily I on I Timothy I). Jews and Protestants don't eat anything when they fast, but Greeks eat seafood that is not Kosher, deliberately out of anti-Semitism. They refuse to use matzabread in communion host because of anti-Semitism. Hideous Good Thursday (beatitudes 4th tone, 13th antefone 2nd plagal 6th tone, 11th antefone 2nd plagal 6th tone; also Tuesday 3rd ode 2nd tone tropare) fired up the Black Hundreds to go out and kill Jews for their Judas fires. We must annihilate with thermonuclear bombs the Greek cities of Larissus, Cavallus and especially the perennial soviet spy base of Athus so the soviets will not be able to grab the straits from our staunch, secular Turkish allies. Greeks describe their ghettos as "homogeneity" colonies and themselves, even when they are born here and citizens, as "expatriates." In their services, they pray for the "Greek nation and American people" because they refuse to consider an inhomogeneous country a nation. And they have this evil saint, Cosmus Aitalius, who advocated ethnic cleansing. Do not fear nuclear bombs for their energy will bring the Glorious Rapture! Greeks stole the Egyptian, Trojan, Roman and Venetian empires to benefit their hideous decadent merchantilism. They invented capitalism along with perfidiously decadent sexual, "philosophical", and commercial mores. Greeks are not courageous enough to fight, but prefer commerce, witch alchemy "science" and literature as instruments of domination. Greeks invented globalization three thousand years ago. Trojan Horse betrays how perfideously Greeks fight. During Depression, Casavis betrayed how masons are beholden to the Greeks. This is why the thirty second degree emblem of Scots rite is byzantine two headed eagle. Greeks have always been behind Satan's religion of Secular Humanism. Gorbachev bears the mark of the antiChrist on his forehead, is a member of the Greek politburo, Archons of Constantinople, secret controllers of the Federal Reserve (from their Delian League), using boards like Brademas, Hatsopoulos, Patrikis, and Jamie Dimon. Russia was always controlled by Greeks, originally for the wheat, and the first Russian governor of Alaska was a Greek named Delaros. Jefferson and Franklin were controlled in writing our Constitution by a guy straight from Greece named Paradise at the same time as Russia had a Greek foreign minister, who had lured the greatest scientists of Europe to work in Russia. A Greek named Peter Peterson replaced David Rockefeller at the helm of the Council on Foreign Relations. The CIA has long been controlled by Greeks like Tenet and Negroponte. Arab countries are controlled by the Greeks who ship their oil. American slave trade was controlled by a Greek family named Benakis. Greek diners are oil ship money laundries. Diner boys do so well in those filthy colleges, because colleges are Greek instruments of world domination established by the guy named Paradise who controlled Jefferson and Franklin. This is why colleges all look like Greek temples and have those depraved Greek fraternities. The devil General Grant admitted to being a Byzantine emperor. The Greek devil Papnichlau invented the sex "liberating" pap smear. The USA movie industry was invented by Spyros Scouras, friend of Stalin. Greek devils carelessly caused Atlantis to disappear when they arrived on earth. Turks are just Trojans avenging millenia of occupation. We must liberate humanity from three millenia of Greek domination.

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