The Euro Titanic
By Greg Hunter’s USAWatchdog.com
You want to know what’s going on right now with the European monetary union and the euro currency? Outspoken Member of the European Parliament Nigel Farage knows, and he’s gotten it right from the very begining of the soveriegn debt crisis. The latest bailout (which is really just more debt) is going to Spain, but it won’t stop there. Plenty of more money printing (for even bigger bailouts) is on the way. Please enjoy Nigel Farage in a verbal beat-down on the floor of the European Parliamant yesterday.
TPTB tried to shut Mr. Farage up , they failed …..he survived the plane crash , he has divine protection no doubt. I admire his spirit of telling the truth , we need more folks like Mr. Farage. Fearless with the truth!!
nigal is a forplay of the one to come. for president? of the world? Give me a republic,and we will be fine….In no time!
PIETER your statement is fact..thank you.
Europe’s New Fascism: As the Bureaucrats March Blindfolded Into the Minefield of Unintended Consequences, is Germany Playing a Game of Third Time’s the Charm?
In the wake of the failed elections in Greece the spotlight of economic instability moved to the other end of the Mediterranean and Spain. After weeks of mergers, consolidations and outright nationalization the pronouncements coming out of Madrid were that there would be no need for any outside support or bailouts for the collapsing Spanish banks.
Nobody really believed the propaganda, Spanish bond yields and CDS rates soared and its stock market fell like a stone. Faced with these realities the official story began to change. As the negotiations dragged out the numbers grew exponentially. First it was the banks might need €10 billion. That soon became €18 billion and then €40 billion and then €80 billion and now it stands at €100 billion ($125 billion). Never mind that the actual liabilities arising out of both a collapsed housing market and a complete failure of the government’s massive investment in a so-called green energy sector is more likely closer to €400 billion.
The negotiations between the Spanish government and the European Commission revolved around several factors. Firstly, were the loans to be made directly to the banks and Spain and it taxpayers only liable for that percentage of the banks that had been nationalized or would they be made entirely to the State and then disbursed to the banks putting the Spanish taxpayers on the hook for the entire amount in any subsequent failure? In the end what was agreed to was to loan through as quasi-governmental bank stabilization commission so that who exactly is on the hook for this €100 billion remains nebulous at best. Secondly and more controversially, was Spain’s refusal to agree to any budgetary controls; i.e. austerity. On this point Spain appears to have won a pyric victory at best. Even before the agreement was announced rumblings and complaints were heard from Ireland about wanting to renegotiate their bailout deal to do away with the onerous austerity provisions. In other words “We want the same deal Spain got.”
So how was Spain able to make a deal absent the austerity demands imposed upon Greece, Ireland and Portugal? Quite simply, blackmail. Behind closed doors the Spanish no doubt told the European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF) representatives, “we are just to damn big to fail and if we don’t get the deal we want it will crash not only Europe and the Euro but the entire global ponzi scheme.” Even a cursory examination of the deal revels its patent insanity. For example, look at the requirement that Italy loan Spain €20 billion at a 3% interest rate. The problem for Italy is that Italy doesn’t have €20 billion to lend, so they have to go onto the open market and borrow that €20 billion at a 7% interest rate. They might as well be draining blood from one arm and pouring a good percentage on the floor before transfusing it into the other arm.
The EC, ECB and IMF folded and Spain got the deal. The Spanish deal will very likely move the coming Greek and Irish elections firmly into the camp of the “no austerity” parties. Just what Europe needs, political chaos piled on top of economic chaos.
Running in parallel to these negotiations has been a constant propaganda operation coming out of the EC, the ECB and IMF calling for so-called “Eurobonds.” Any such bonds would be issued against the assets of the European Economic Union member states as a whole. The drumbeat continues in spite of Germany’s stated steadfast opposition.
In spite of there being a growing discontent among the German population for being used as Europe’s cash cow, as reflected in recent local elections, Chancellor Merkel’s government is playing power games behind the scenes. While stating opposition out of one side of her mouth out the other side comes possible consideration if any future loans are backed by the sovereign gold holdings of the central banks of the troubled nations coupled with calls for those nations to surrender control of their budgets to the un-elected EC and the ECB.
So much for democracy, so much for National self-determination. In other words accept austerity imposed and controlled by Germany. Germany failed in two wars to impose control over Europe, so now are they seeking to economically colonize the PIIGS and possibly even France through the EC and the banks?
Sadly I don’t see any happy endings for the Euro or Europe or the US given the current trajectory. But hey maybe they can stir up another war somewhere to take everybody’s attention away from this looming disaster. Syria anyone?
The EURO will not collapse. It has never really been in peril of collapse. This is a kabuki side show to the real issue. This is all necessary to bring the European countries under the fiscal and political control of a single central Euro government. The wailing will continue for some time. One country, Greece, may even be able to escape the EURO at great cost to them,. However, by design the great Central Bankers of Europe and their technocrats will rule Europe when all is said and done.
When that will be, no one knows. There is that untidy Democracy thing they must first contend with- but they will to be sure.
North America is soon to follow.
From my vantage point, it certainly appears that British politician Nigel Farage as well as Victoria Grant, the 12 year old Canadian girl, have a much better handle on what’s going on fiscally and are able to effectively articulate as much, better than all of the talking heads and elected officials on Capitol Hill. If that disturbs anyone else as much as it does me, then take a deep breath and rest assured we’re still alive and not a bunch of mindless zombies.
It is again, so nice to see a Politician stand up and, say it like it is, without the BS we hear on this side of the pond. Unfortunately I think he is bang on. Yet, the banks are going to still ask for money and paid off Politicians are going to give it to them, no matter what it does to the average person. We live in interesting times.
Nigel Farage is just like a young Ron Paul in UK. Coincidently the full name of Farage is Nigel Paul Farage. He is right from the beginning of the Euro project.
Here is another interesting video clip from UK, “Bloom Exposes FTT Scam & Central Banking Crooks” (http://www.youtube.com/watch?feature=player_embedded&v=CxKQReTqxcA#!) Godfrey Bloom is a Member of the European Parliament for Yorkshire and the Humber for the United Kingdom Independence Party. Like Farage, Bloom is also outspoken against the scams and crooks of central banks. There are a lot of similarities between the Euro debt crisis and the U.S. debt crisis. What is going to hit the European countries will soon hit the U.S.A.
Thanks to the distraction caused by the European debt crisis, nobody is paying attention to the fire in our own kitchen. I haven’t heard any media coverage of the U.S. debt for a few weeks. If nobody mentions it for a while, some people start to think that the problem will magically go away. I bet Obama and the Congress must be enjoying their quiet breaks from the public pressure for reducing the national debt and balancing the budget.
When the Olympics games start next month, the MSM will definitely put the economic news into the back seat. Let’s hope that the economic tsunami won’t hit us while we sleep.
Air….Air…. oh I can breathe again, fresh air from Nigel.
I have been following Nigel for over a year now, he speaks with a straightened tongue (vs speaking with forked tongue). Some one like him is never popular in his home town or country, but, he doesn’t keep anything back in this video. Thanks for sharing this one Greg!!
The ship is going down……..burp!
He is certainly laying out the truth, but if you notice his fellows in the background, they appear bored and distracted. They ignore his warnings just as US lawmakers ignore Ron Paul and Ross Perot long before him.
We will all pay a terrible price for the politicians we have elected time and again.
Nigel is great. Europe is going down. But not let’s forget to not lose the focus on America because it is in slightly more serious trouble than Europe.
The Titanic is the fractional reserve banking system. As long as banks are required to only hold 10% of deposits, the world financial system will continue to be fiscially unsound. We will see bail out after bail out until the whole world economy collapses. The solution is to return to sound money backed by something that has intrinsic value to prevent the manipulation of our currency for profit.
The brits really get hot over being stolen from,meanwhile the americans sleep like little babies..all is well (SLEEP, Sleep,sleep).
Greg. We need a new alarm clock. Or get a backbone.
Looking at Europe and their high level of foreign immigrants that do not share western values and the Captain’s of the E.U.’s direct hit on the iceberg it is evident that hell is coming to pay them (and (U.S.)a visit.
All the factors are now in play.
The wicked shall be turned into hell,And all the nations that forget God.
This is a GREAT speech! I’ve listened to it several times.
Nigel for world President! Austerity can be cuts in wages and benefits or as in America, stagnation of wages with greatly inflated prices. Yes once again the ponzi is being reset and the sheeple applaud.
I like this guy. Why can’t we let him run for president? After all, if a third-world foreign national like Obama can do it, why not someone from a developed country that has some common sense?
Thanks for the video, Greg!
I listened to Nigel speech. Never the less we should never forget that he is a modern politician and that means simply that he is an empty shell bought and paid by the banksters. We need just to accept that
we are living in a matrix world where by the real power is hidden and
invisible but immense powerfull. If Nigel was a threat to the present
real powers you can be sure that he would not be there and gave this
It is all a show to distract the even more grave economic problems in the US. The practice of money printing and fractional banking is nothing else to impoverish every generation as there is no means for
majority to save their fruits of labour.
All we hear through the msm is just a terrific way to distract the masses from real porblems, now in europe the “politicians” will vote
one day before the EC soccer final for a political european union.
All these politcians sorry banksters want is more and more control over the masses and centralising their powers. This is done by a very old concept first create a problem and then offer a solution.
Sadly ppl cannot understand there will be never in this world coming any solution from our traitors/political representatives as they have their own secret agenda.
The present economic situation is alarming detoriating as ppl can imagine.
Never the less we need fighting against these dark powers begind the curtains.
keep up good work,