English: Various Euro bills. (Photo credit: Wikipedia)
This is an interesting story from the FT. Check it out!
Financial markets seem to be desperately looking for some good news, at the moment, and whilst the insights reported from Madrid and Berlin are positive, they are not yet good news. As an optimist, I am ever hopeful of good news being around the corner but recognize the downside risks.
Calling for a European Fiscal Authority means effectively creating a precursor to a United States of Europe and with that you would move inexorably to what the original founders of the “European ideal” wanted back in the 1950s, a system of overriding European Government.
What the Spaniards are looking for is a bailout on a permanent basis from the Germans, the rest of
Europe and ourselves. There simply isn’t enough money for this because the Germans do not have enough, the British taxpayer is “maxed out” and much of the rest of Europe is effectively bankrupt.
Because the Greeks have been able to force everyone else to pay for their profligacy of much earlier years through brinkmanship and bailouts, the Spaniards now want to do the same.
Quantitative easing will not be enough in itself which leaves a multi-trillion shortfall as even the laid back lover of “Angry Birds” David Cameron, recognised very early on.
The Bilderbergers, including Kissinger, Madam Fu Ying of the PRC, and representatives of the Spanish Government, plus others from the UK and the rest of Europe are in Chantilly in Virginia USA discussing this, the Arc of Crisis including the “taking down” of the Assad regime in Syria, the 3rd world, what to do about Africa and the state of peace and war.
Doubters about this should read the Guardian, follow RT and look at the official Bilderberg website.
The BBC which is little better than a propaganda mouthpiece attends but never reports on the proceedings.
China has already said it is only willing to help if Europe works hard to put its house in order and is prepared to pledge substantial assets such as banks and infrastructure to act as security for loans and is not prepared to give Europe blank cheques.
What we are then left with is another squalid compromise, which will be QE, a bailout which is too small, more money stolen from the British, French, German and American taxpayer and a war which will involve us arming the Syrian opposition, creating mayhem in Somalia, the Yemen, taking down Lebanon and formenting wars which we can finance in Africa using weapons made by BAE Defence systems one of the UK’s largest exporters. This last will be to serve two purposes, which are to use Africom under General Carter Ham to deny the Chinese raw materials from Africa where they have invested heavily and to apply more pressure on them to bail out Europe failing which we damage their economy having ruined most of our own.