I have been amazed at the news coming out over the weekend. I have been in the African bush again (thank you Jesus), so I failed to comment on it until now.
First of all, Brother Scott Herrmann (Borntowatch.com) holds the believe that the deadly wound can be linked to the German Reicht being healed into the strongest force in the EU in such a way that Germany will control the EU. Bro Scott, I’ve tried to find the writings, but no luck. Please feel free to share it with us again.
The reason I am mentioning this is because of these two articles published over the weekend.
Groucho Marx once said that money frees you from doing things you dislike. “Since I dislike doing nearly everything, money is handy,” said the Marx Brother.
Having spent billions of euros they didn’t have, governments across Europe are now finding out the hard way that without money they have to accept things that they would rather not be doing—namely, taking orders from Angela Merkel in Berlin and Mario Draghi in Frankfurt.
Late on Thursday, in Dublin, a scandal rocked Enda Kenny’s government when reporters got hold of the Irish budget three weeks before it was due to be unveiled to the Irish people.
According to a document seen by Reuters, Irish VAT is expected to rise by 2 percent and despite denials from Dublin, it appears very likely that Kenny’s visit to Berlin this week saw him ask Angela Merkel for approval of his spending plans for 2012.
“The reports are undoubtedly true,” said one Irish business leader who spoke to CNBC following the reports.
Read the rest HERE.
A lot of people were puzzled about what German Chancellor Angela Merkel meant when she recently stated that the ultimate solution to the financial crisis in the EU would “mean more Europe, not less Europe”. Well, now we are finding out. A leaked internal German government memo entitled “The Future of the EU: Required Integration Policy Improvements for the Creation of a Stability Union” actually proposes the creation of a “European Monetary Fund” which would be given the power to run the economies of troubled European nations. This “stability union” would be quickly followed by the creation of a full-fledged “political union”. Essentially, this leaked memo proposes the creation of a “European Superstate” which will be crammed down the throats of the rest of Europe whether they like it or not. National sovereignty would be a thing of the past and European bureaucrats would run everything. Of course this will never be accepted by the people of Europe until they feel the bitter pain of the coming financial collapse, but we are starting to see that there is already a clear plan for what the Germans wish to implement in the aftermath of the coming crisis.
A lot of people have just assumed that if there is a massive financial collapse in Europe and the euro crashes that it will mean that end of the euro and potentially the breakup of the EU. But that is not what the Germans have planned at all.
MUST READ the rest HERE.
Clearly we can see what the plans are for the EU and how Germany is the driving force behind it. Look out for a little horn rising up in this economic mess.
I’ve just found these two articles in the comment section, thanks to Mr Baldy and Justasheep. Clearly the German push for a United States of Europe can be seen here also.
BRITAIN will soon be forced to scrap the pound and join the euro, one of Germany’s most senior figures said yesterday.
In a chilling threat to UK sovereignty, German finance minister Wolfgang Schauble predicted that all Europe would one day use the single currency. “It will happen perhaps faster than some in the British Isles currently believe,” he said.
His sinister warning followed the emergence of a secret German plan to build a powerful new economic government for the eurozone and block an EU referendum in Britain.
A leaked German foreign ministry memo detailed plans for a new European Monetary Fund. It also claimed the EU’s treaty could be altered to centralise more power without triggering a vote.
Read the rest HERE.
Former deputy prime minister Lord Heseltine has said he still expects the UK to eventually join the euro.
The Conservative peer, one of his party’s most pro-European figures, said the eurozone had real problems but he hoped it would survive as its collapse would be “catastrophic” for the UK.
All three of the largest Westminster parties have ruled out joining the euro in the foreseeable future.
UK Independence Party leader Nigel Farage said the eurozone was “failing”.
Prime Minister David Cameron has faced opposition to his European policies within Conservative ranks, with more than 80 MPs defying the government and calling for a referendum on EU membership.
Read the rest HERE
This in from Passerby:
An intrusive European body with the power to take over the economies of struggling nations should be set up to tackle the eurozone crisis, according to a leaked German government document.
The six-page memo, by the German foreign office, argues that Europe’s economic powerhouses should be able to intervene in how beleaguered eurozone countries are run.
The confidential blueprint sets out Germany’s plan to tackle the eurozone debt crisis by creating a “stability union” that will be “immediately followed by moves “on the way towards a political union”.
It will prompt fears that Germany’s euro crisis plans could result in a European super-state with spending and tax plans set in Brussels.
The proposals urge that the European Stability Mechanism (ESM), a eurozone bailout fund that will be established by the end of next year, should be transformed into a version of the International Monetary Fund for the EU.
The European Monetary Fund (EMF) would be able to take full fiscal control of a failing country, including taking countries into receivership
Read the rest HERE.
Here is an interesting article by Business Insider:
If you like your Wall Street analysis with a heavy dollop of rapture and Armageddon, today was the day for you.
Blame the weighty issues of the day (Europe, mostly), and yesterday’s big selloff for the spasm of bearishness.
It started off with Nomura’s Bob Janjuah. He said that any talk of the ECB saving Europe was a mere pipedream, and that if the ECB did go whole-hog buying up peripheral debt to suppress yields, then that would prompt a German departure from the the Eurozone.
Germany appears to be adamant that full political and fiscal integration over the next decade (nothing substantive will happen over the short term, in my view) is the only option, and ECB monetisation is no longer possible. I really think it is that clear and simple. And if I am wrong, and the ECB does a U-turn and agrees to unlimited monetisation, I will simply wait for the inevitable knee-jerk rally to fade before reloading my short risk positions. Even if Germany and the ECB somehow agree to unlimited monetisation I believe it will do nothing to fix the insolvency and lack of growth in the eurozone. It will just result in a major destruction of the ECB‟s balance sheet which will force an ECB recap. At that point, I think Germany and its northern partners would walk away. Markets always want short, sharp, simple solutions.
Okay, but that’s Janjuah. He’s always bearish so maybe that’s not even news.
But then there was Deutsche Bank’s Jim Reid, who is always sober, but not usually wildly negative. He offered up one of the most bearish lines in history in regards to German opposition to ECB debt monetization:
If you don’t think Merkel’s tone will change then our investment advice is to dig a hole in the ground and hide.
Read the rest HERE.
There is so much to report on on a daily basis. News just pours on. I did not even touch on the powder keg Syria. There may be a war on the horizon.
Thanks to all of you for keeping us up to date.