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Angela Merkel On The Ledge: "This Is Not Fair... I Am Not Going To Commit Suicide"
What is most remarkable about the following detailed FT profile of the Cannes November 3-4, 2011 G-20 summit (when Europe, knowing well virtually every other option had been exhausted and was forced to grovel for Chinese cash)...
...is not that Obama, facing an election and fearful of what a Eurozone disintegration and depression would mean to the US economy and more importantly, to his re-election chances, managed to bring German chancellor Angela Merkel to tears, which he did...
To the astonishment of almost everyone in the room, Angela Merkel began to cry.
“Das ist nicht fair.” That is not fair, the German chancellor said angrily, tears welling in her eyes. “Ich bringe mich nicht selbst um.” I am not going to commit suicide.
For those who witnessed the breakdown in a small conference room in the French seaside resort of Cannes, it was shocking enough to watch Europe’s most powerful and emotionally controlled leader brought to tears.
But the scene was even more remarkable, those present said, for the two objects of her ire: the man sitting next to her, French President Nicolas Sarkozy, and the other across the table, US President Barack Obama.
...
The US president asked whether Ms Merkel could work it out with the Bundesbank by Monday. Mr Sarkozy suggested finance ministers meet to agree the details before the summit ended the next day. Perhaps something vague could be mentioned in the summit’s communiqué, Mr Obama suggested. No, said Mr Sarkozy, but we could meet again in the morning.
It was as if the two men had not heard her. She made the point again: “I’m not going to take such a big risk without getting anything from Italy. I’m not going to commit suicide.”
No, the real news is that even as Europe was facing near certain disintegration, it still was unwilling to make the compromises necessary to move away from a pseudo-union, one which is neither a federation where joint bond issuance is possible and where members are ratably responsible for each other, nor where the countries are wiling to cede soverignty to the most stable and viable entity in order to spread risk.
Mr Sarkozy attempted to manage the three-way impasse. The US wanted Germany to contribute its SDRs but Germany was only willing to give a partial commitment if Italy gave in on the IMF programme. Giulio Tremonti, Italy’s finance minister, held firm: Rome would accept IMF monitoring but no programme. Would the Italian monitoring plan, plus a commitment by Germany to contribute bilateral loans, be enough, Mr Sarkozy asked.
“No. Germany has one-fourth of all [eurozone] SDR allocations,” Mr Obama objected. “If you have all the EU countries together but not Germany . . . it starts losing credibility.”
...
The leaders met again the next morning but the momentum was gone. “The storm was over,” said one person at both meetings. The SDR plan would never again see the light of day. Italy would get a monitoring programme but no funding. And to compound the failure, Mr Berlusconi at his closing news conference publicly acknowledged what everyone had assiduously attempted to keep secret: that the IMF had offered him a rescue programme. Italy would suffer the stigma of needing a rescue but without receiving any assistance.
The Cannes failure provided new oxygen to the eurozone fire. When markets reopened, Italian borrowing costs soared. Within the week they would nearly touch 7.5 per cent. Greece’s would go above 33 per cent, a level almost without precedent for a developed country. Now, with no new firewall in place, it was unclear what would save the euro.
There is more in the full report by Peter Spiegel, but for those who lived through each and every trial balloon headline, what happened next is a clear memory: Goldman's recent ascendent to the head of the ECB, Mario Draghi, sent Italian bond yields soaring in the process forcing Berlusconi to quit, Greece's G-Pap also quit after his failed referendum gambit, and the one thing that prevented the all out collapse of the Eurozone, was the (latest) US-Funded global bailout of November 30, 2011.
And ever since then it has been one lie after another, starting with Draghi's "Whatever it takes" bluff to prevent the collapse the Euro, knowing full well the ECB is unable to monetize bonds at will like the US Fed (in his own words), and which has since transformed to a "whatever it takes" to push the Euro lower (confirming that the Eurozone is only viable in a EURUSD 1.20-1.40 corridor, and proceeding with the OMT "program" which still doesn't actually exist, nearly two years after its introduction.
So what has happened in Europe since the fateful Cannes G-20 summit in 2011 which made Merkel cry? Why nothing. Absolutely nothing has changed, that infamous austerity which everyone hates never actually happened (those confused about this are urged to look at all time record high (and rising fast) debt numbers across the Eurozone periphery), and worst of all, that most important Keynesian variable - private sector loan growth - never picked up. As the chart below shows, Eurozone lending to private business remains at a record low, and very deflationary, -2.2%.
The reason: since European government merely kicked the can courtesy of yet another global central bank "put" exercise, all the politicians were spared the dread of actually implementing painful reforms. So what did Europe do? It changed the definition of GDP sufficiently to make Spain and Italy appear as if the two fulcrum nations are growing, and also suckered US hedge funds and private equity firms to chase after European non-performing loans and bad debt, now that the scramble for distressed real estate is finally over as US housing has finished its fourth dead cat bounce.
But at least Merkel did not have to cry any more, as the return of the Deutsche Mark was delayed by a few more years, at the expense of all those peripheral workers (the lucky ones who did not lose their job of course) who devoid of the capacity for an external, FX, rebalancing have seen their wages crater for years, just so Germany can keep its export machine humming courtesy of a cheaper currency.
We wonder if once the effect of the liquidity tsunami fades alongside the Fed taper (especially since the ECB's bluff of full, Fed-style QE will remain nothing more than just that, a bluff), and European bonds are finally reacquainted with selling, in turn sending the continent in yet another recession because, we will repeat again, nothing in Europe has been fixed, whether European stubbornness wins out again, and the member nations would opt out for disintegration of the most artificial union in history, or whether Angela Merkel will cry one final time?
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Which begs the question, why now?
Seriously, wtf?
Why bring up old news about backroom dealings that resulted in the falls of the elected governments of Italy and Greece and that expose the inability of Europe as a political body to solve its own problems without calling in the US to add pressure to shady, desperate proposals violating Germany's separation of the Bundesbank's control over SDRs from politicians?
From the Wikipedia article: "From 22 to 25 May 2014, elections to the European Parliament will be held in all member states of the European Union (EU). It will be the 8th Europe-wide election to the European Parliament since the first direct elections in 1979."
.someone please explain to me again why the euro survived and europe hasn't imploded...perhaps this is a model of how and why the U.S. will continue to "motor on" for decades, even as a corpse of an economy.
I think the Euro survived because it is backed 15% by gold.
i don't believe that's the case - the euro is just fiat, like the usd.
a quick google search shows that if all the gold in europe were marked to market and used to back their m1 money supply, it would be able to back it 6.7%:
http://wealthcycles.com/blog/2011/01/20/what-percent-of-the-euros-in-cir...
Firstly... if they 'marked to market' and used the gold to back the Euro then they could no longer lease it out on a fractional reserve basis. That alone would cause the price of Gold to skyrocket as huge swaths of 'paper-Gold' collapsed into non-existance.
The problem is that, much like the US, they have already leased out all that gold, and written contracts on it on a fractional reserve basis so it is no longer factually available as currency backing.
The backing would be a FARSE. And the first whiff that they didn't actually have the gold in their possession would collapse the currency.
And they can't easily transition to a Gold Standard either. While Europe makes great stuff and has a good export market, simply HALTING the Gold manipulation necessary to accumulate physical gold for backing would collapse the currency before they got to any significant backing.
They are locked in. The Dollar and Euro have to die before a transition to hard currency is even possible.
WTF! Wow.
Others have been known to cry. Even the largest car dealer in Los Angeles cried when "as he referred to them -- oil men" made him shut down his ethanol fuel fleets. That was in the 1980s. Someone likely told she could not get out. Probably Blankfein or Dimon.gave her a call before the dinner and then the others testified to her about the real world. It is the realization that one is not all powerful and cannot do what is right. After many successes through life self made people respond like that.
Wondering when this is going to pop up here:
Covered Bond Fight Sidelines Basel’s Bank Goals: Nordic Credithttp://www.bloomberg.com/news/2014-05-11/covered-bond-fight-sidelines-ba...
So, applying math this goes from the IMF's 34% valuation/holding combo (85% * 40%) to a capitulated 65% (93% * 70%).
Pools with naked swimmers not wishing to be seen as swimming naked...
Any odds for when they're going to be giving us numbers on art collections?
Here is another from Japan:
http://www.bloomberg.com/news/2014-05-12/japan-sold-record-1-96-trillion...
Yes, watch Japan! I don't see who is going to prop them up.
Have you seen Toyota's corporate profits all based on Yen/$ devaluation due to Abenomics?
All Japanese debt is held by Japanese. Its a closed loop.
If Japan can regain commercial surplus via devaluation it will play the game of CB ledger being debased and held by Nippons rather than austerity and subservience to USD debasement strategy; That is the basis of race to bottom. Every CB defends own economy via currency war.
All the while helping the brother CBs by devaluing all fiat held by creditor nations and thus debasing world debt.
There is a plan and there are sub plans within the overall CB plan of dividing the crumbs from the bubble-onomics cake.
With a declining working population and exploding fixed costs related to a demographics nightmare???
Not likley.
If things get rough across the globe expect eyes return to Europe, where they continue to talk. I have not written much about the Euro-zone economy or banking system as of late because nothing is really happening.
The Euro-zone is engaged in a talkathon, with fear of an immediate collapse off the table the members of the Euro-zone much like their political counterparts in America just talk about solutions without any action. Below is an article updating what is not happening in Europe.
http://brucewilds.blogspot.com/2014/04/euro-zone-update.html
Seemes that the author is crying after having gone short with the Euro ;-)
Some further information: It's not up to Miss Merkel to decide about SDR or gold-reserves - it is and it was all alone up to Mr. Jens Weidmanns as autonom President of the Bundesbank and he left no doubt that Mr. Obamas or Mr. Sarkozy or Mr. Berlusconys or may be Mrs. Merkels daydreams will be unfullfilled. Unlike the others Miss Merkel knew that - so why should she cry about something what never could be forced?
You're right that it was Buba's decision, not Merkel's. Obama almost certainly knew that; given what's known of NSA intercepts of Merkel's communications, he probably had knowledge of the phone call that she received from the Bundesbank and that is referenced in the article, if not also the letter that she didn't receive in time. His only hope could have been that, by presenting a unified front with Sarkozy, he could pressure her into pressuring the Bundesbank to reverse its position. That's the "suicide" part: she knew that surrendering Germay's SDRs to bail out southern Europe, especially with Italy refusing IMF controls over its budget, would be immensely unpopular back home, and any hint of pressure on her part would seem unlawful, so that a leak would end her political career. Obama's advisors had to have briefed him on that too. That's probably why he backed down so quickly: he knew that he was asking her to do something for Europe that could mean her political demise, even though the plan couldn't guarantee that Italy would reform its finances, which would make her gesture futile. It was a half-baked gambit, but Sarkozy and Obama felt it was worth trying, and then they backed down when Merkel refused. End of story, really.
Frankly, nothing's been fixed, and Europe somehow managed to kick the can well enough that bond yields are down again three and a half years later. Elections are coming up in a few days, and Europe will express its feelings about this stuff at the polls. That's what the story's really about: the FT is rehashing Europe's backroom deals and exposing its inability to cope wtih its problems prior to the next round of voting.
Elections are coming up in a few days...
I thought you said "electrons" in lieu of "elections" and was about to click the green arrow. As it is, I'll have to defer.
jmo.
If it helps, I could compare Martin Schulz unfavorably to Conchita Wurst. That sort of thing's worth a green arrow around here, isn't it?
agree with Seemes that the author is crying after having gone short with the Euro ;-)
add in Tyler's "(Europe) suckered US hedge funds and private equity firms to chase after European non-performing loans and bad debt, now that..."
oh, poor, poor hedge funds and private equity firms. I mean, they are dumb money, aren't they? hedge funds and private equity firms are notorious for being led by the least paid, dumbest, most guillible people of this planet /s
so she cried. I've seen lots of women in all kind of power cry, and often it was a quite effective bargaining tactic
Tyler's further sentence is emblematic: "...and the member nations would opt out for disintegration of the most artificial union in history..."
wishful thinking, which leads to wishful shorting, which leads to tears, which leads to stories about tears
fact is that we are in a currency war situation. alone, the 18 currencies would be trashed. together, they are even a good anchor for a further half dozen
without the EUR we would have had a huge round of intra-european currency war. we had them before, thanks, but no, thanks
advice: find something else to short, or stop behaving as if the subject of your shorting is being unfair if it defends itself
The Euro may fail, and provide a wonderful distraction and testing ground of what it means to see a currency failure. Or US curr collapse, Or US expanse of power to replace the Euro.
Deflation is confirmed in Europe. Which means a variety of things may take place. inflation will re ignite, loan growth begins to grow, real assets start to increase. Economic conditions start to grow. However, the markets have priced this in. Therefore, will the markets begin to discount the expected economic growth?
Ummmm...I'm sorry, but am I supposed to feel sorry for sociopaths and psychopaths? It's like asking me to feel bad when obombya gets rained out on a golf day. Poor babies...
No defaults, no recessions, no depressions, no civil wars allowed.
So what has happened in Europe since the fateful Cannes G-20 summit in 2011 which made Merkel allegedly cry (...although it was never in her power making decisions about Bundesbank - since April 2011 this is all alone the job of Jens Weidmann and from beginning on he always said "NO")
Citation: "Absolutely nothing has changed, (...) Eurozone lending to private business remains at a record low, and very deflationary, -2.2%."
...Why didn't change something? Deflation in the European periphery against slight inflation in the stronger countries is exactly what Europe needs to close it's inside-gap. Till population doesn't start rumors it works....and the average inflation in the Eurozone is still about 1.3 percent.
The EU has given warning to Russia that the EU will be taking over Ukraine and setting it's economy on a road to fiscal stability and has promised the West Ukrainian people a jump start to prosperity and a fully functioning fraud free economy. Now, that isn't all, the EU's enforcement arm, NATO, is sending troops and air forces to Russia's border to back up threats of a military operation to teach Russia to submit. The EU has also threatened Russia with a much more robust EU military spending program to give the NATO forces a military capability right on Russia's border capable of inflicting a punishing defeat on Russia should Russia not again submit to commands coming out of Brussels. You wonder how out of touch the Brussels Supreme Soviet actually is, when they still think of themselves as a rising Nazi Germany preparing to make their march to the east. At first the EU was going to conquer Ukraine, now they are aiming to drive East and not stop till Vladivostok on the Sea of Japan.
So, clearly the Brussels soviets are living in some dream world of their own creation. I guess living a life of luxury and taking massive bribes and whores and drugs from corporate Europe, along with stripping tax payers blind for big pay packages and luxury flats and travel, all these communist party perks that Brussels hands out to it's loyal commissars has really gone to their heads.
The EU is living on money printing, and special back door bailouts from the US Federal Reserve, the world's go to money printer. When this experiment in Soviet Communism in Brussels finally implodes in a popular revolution, nobody will remember the spring of 2014 and all the promises of military victory, economic growth and luxury German style living that the EU has given to the West Ukrainian Nazi party in Kiev.
I write the above to show up the foolishness of the EU in it's present form, but upon reading it, I feel I have come some way towards the truth of the Brussels nut house full of fat overpaid political parasites who sit in judgement in the Brussels Parliament and talk of teaching Russia a military and economic leasson. As if the failed Soviet EU is going to launch their invasion tomorrow.
EUville Parasites ... Endorsed 100%.
... & we thought they were just evil ....
... but as time goes on ... we discover they are just COMPLETE IMBECILES.
Nope Its the NWO neo-cons, US bred, that run the world and who implanted Barroso, their man from Azores 2003 GWB fawning clique, to FRONT the EU technocratic show as surrogate to DC Oligarchy.
Merkel is now in the hands of the Western Banksta cabal; of which deutsche Bank is a Prime culprit; that fructifies the Oligarchy Caymanista assets via HF of shadow banking; all the while they pump n dump CB money on the National ledgers of Nation states of all first world as Non-collateralised DEBt.
So EU imbecility comes from fawning in front of Us big stick, big TBTF-FED-ECB interlinked money construct and US-Saudi controlled big oil.
Putin is a spanner in the works of that hegemonical construct and Mutti can cry her eyes out but she is sitting between a rock and a hard place.
Until Europe finds the courage to revolt from Pax Americana hold and concomittantly to FLUSH OUT the Banksta casino, whatever the resultant cost, Europe will not find its freedom once again.
Looks like the Oligarchy "thieves falling out", initiated with Putin saying "I'm leaving the G8 table", is now going to cause pandemonium on the $ Fiat Titanic.
Lady Lagarde has just warned the world that Ukraine crisis will have DEEP financial consequences to world monetary thread and currency war games now going into red zone.
When events decide the fate of Empires, all the kiss and cry sessions will not give you the gold medal!
This is all going to end very badly. The inmates are and always have been running the asylum. And they possess the power to wipe every human being off the face of the planet.
Your post contains a significant factual error.
-The NATO treaty is with individual nations and not with the EU.
-NATO leadership, the UK, and the US oppose EU militarization rather than support it as you imply.
-The EU wants its own military SPECIFICALLY so that it can pursue military policies that NATO, UK and US would not support.
-The statement you made about an EU spending program bolstering NATO is counterfactual. Any EU military spending will displace national spending in support of NATO.
- Russia will NEVER face both NATO and the EU. It will face EITHER NATO OR THE EU, because the same money can't be spent twice on two different projects.
- The US failure to overcome Russian political and military blockage of EU energy supply lines, and NATO's inability to credibly deter a Russian invasion of Europe through the territory of current NATO members (Baltics, Poland, etc) makes it MORE LIKELY THAT EUROPES FUTURE SECURITY DEVICE WILL BE THE EU AND NOT NATO.
- The distraction and fear of a major war in Europe would be EXACTLY the impetus needed to cause nations to surrender a greater portion of their sovereignty to the EU.
Putin's chess here is treating the EU and NATO as the same entity - A ROOK OR BISHOP. They are not. They are playing checkers, not chess. When war erupts it will 'queen' the EU. The Federation will then default on their subordinate national debts by one device or another. And Russia will have a much bigger problem in Europe than it does now.
The problem with this Soviet Union Nostalgia is that, like all nostalgia, its time has already passed.
Conditions today are different. Asian conditions are different - which will make the quick subordination of the Eastern Republics a wholly different venture than it was in the Soviet day. European conditions are different. The European environment today is not similar to that in 1945. There is no reason for the powerful nations of Europe, who have four times Russia's population and an economy many times Russia's size to submit to a Russian protectorate.
If Putin were playing this well we would have no whiff of war in the air. The EU would be collapsing day by day as NATO remained nominally strong but increasingly factually irrelevant. And when Europe collapsed he would be ready to offer oil and gas to help them get going again. THAT would gain him enormous influence in Europe at the same time both the EU and NATO were discredited.
Alas, multipartizanship is not Russia's style. Russia is maneuvering for th eboot on NATO's neck, and they'll get it. But NATO's replacement will be a different construct altogether.
Remorse is setting in. Comedy gold,,,,
Crimea river, Mekel!
pre-crime(a) ! but the result is the same. May16 pre-pay Gazprom. Who/what/how pays ?
Damn, a woman's tears are so effective. I wish Obama would cry at international summits.
What a bizzare story...
Sorry, sociopaths don't cry.
Maybe it was Robbie Parker standing in for Merkel?!
PMS?
nah she is too old for that
um, three years ago...?
This Puzzle piece is for you to "feel" something. Propagando-man will be back later, like Mr. Microphone, to pick you up later.
"I am not going to commit suicide"
I'm sure that people in Spain in Portugal would be glad to send you a free compressor and nail gun if you decide to change your mind.
the fat ugly cunt cried
for herself
nice.
what did she do when she handed israel state of the art german nuke submarines
i bet she laughed
hitlers daughter dis bitch she crazy.
i thought mk ultra girls meant to be sexy
Maybee - http://dublinsmickdotcom.wordpress.com/2013/09/06/is-angela-merkel-hitle...
Poetic
sometimes
intelligent
less so
sometimes
failure of SDR is good news for gold
I forget... is that "G-20" with, or without Russia?
Actually the reason she cried was because they told her and she believed it, that they were not out to fuck her over.
Quite the opposite.
And since no one had touched her in over 40 years it was obvious a womans?? hormones would overcome her.
So no gang bang for her and then berlusconi rubs it in and says to her face she is a fat unfuckable witch.
Awww. doesnt it break your heart
These people are all blithering idiots. What a surprise. It's amazing what $10,000 suits do for retards.
This must be the best of human history happening right before our eyes. There's no way we can go wrong now that we have it all figur.......
I wonder whether this article is run now because Angela Merkel is about to start steering Germany away from Europe and the US and closer to Russia and China?
No, because France would never do it.
No, because France would never do it.
Russia is the one with their boot on Germany's energy neck.
Nazi's were a long time ago.
Why would Germany think they need a big-brother/big-sister to turn to?
Yes, there must be a reason. The article has the aim to show the world how vulnerable Germany is (with Frau Merkel close to tears) while the strong US President is taking over the steering wheel directly in Europe whenever he wants, with Sarkozy at his side as the willing executor (this traitor of France and Europe). The Potus can do anything in Europe and Europe has to obey (except Russia of course).
Peak Credit now breached!
RE
Rumor has it that with the Goldman sachs take over of Italy, that 1/3 of Italian's gold has been sent to NY fed as safe keeping.
I have recently came back from Italy and there is no major infrastructure projects are being done. The non Autostrada roads are falling apart, no-one can afford to look after any private buildings.
My Italian friend usually drives fast and crazy on the freeway but with all the "Average " speed cameras ready to fine if you are 5 km (3.2 MPH) above the speed limit every 5-8 km (3 to 5miles) it is to draconian. The price of Gas there is about 50 cents more that Germany and Austria.
The Italians are been ground into the dirt with austerity and such
If that is not bad enough, a volcanic geyser sprang up recently by the Rome airport. True story.
Dats a shame, so many people would better off if she did.
But her just saying that makes me happy knowing that it has even entered her tiny little brain, so there is a chance. Either that or she's sharing the same dream with Timmy Geitner wanting to Off himself, after they got it on at the Cliff Face. Ewe
We or at least I have put the question before, will Germany cross the QE Rubicon knowing full well that Italy, Spain and now even France will suck Germany dry till the EU collapses?
Youri Carma’s Carte Figurative: Europe’s Retreat to Debt 2012-2013 When A Picture Is Worth A Thousand Words
http://img.photobucket.com/albums/v393/youricarma/Miscellaneous/MINARDS_...
“It was as if the two men had not heard her. She made the point again: “I’m not going to take such a big risk without getting anything from Italy. I’m not going to commit suicide.””
Alice In Wonderland To The Vampire Squid http://stgeorgewest.blogspot.nl/2011/11/what-would-alice-in-wonderland-s...
At least Merkel's face - all scrunched up & crying - looks a damn sight better than Hillary's mug... even when Hillary's smiling.
I have bred my egg's with Steve Hawking, and we're
going to sell fetuses to Merkel.
Do you have a jew-dog in your pants? I like jew-dogs.
As a 20 year old, apparently Mutti was quite Ok in her birthday suit; or so they say on the grapevine.
Somebody call the waaaaaaaaaaahhhmbulance. :)
Don't worry, only bankers commit suicide.
hahaha... cry baby cry. And ask Putin for cheap gas...
If you don't bring the TBTF casino to stop and clean out the private banking debt which is the bane of western world you will never be able to divert the banking monetary flow to the true economy. Simple as that!
This whole fiat pumping game teeters on two false pillars : cheap money Zirping via Qe, and cheap oil from Saudi collusion; but for how long?
Putin is not Saud!
And the legacy of this past American Hubris is now beggar thy neighbour!
Eurozone is caught without energy reserves and without a monetary wall solid enuff to withstand banksta collapse. Its gonna be a rough ride.
NATO's day s are numbered due to their inability to look after Europe's energy security needs.
However, the bet that Europe will subordinate itself to Russia rather than militarize ignores the history and culture of Europe.
It will be a bumpier ride than perhaps you realize. And far from a chess match, there are innumerable ways this can turn out.
She resisted these two arseholes and she got what she wanted. Tears do flow sometimes and nobody can control it. Important was, that her brain still functioned. Frau Merkel is a very strong woman but not a robot. I think it was at this time arround when her father died and she had no time for him because of the never ending crisis fueled by Maeron. Obamo and Sarkozy.
I would put my faith in Merkle over 0 any day of the week
Trusting a politician is like giving a pedophile-rapist a babysitting job:
-Someone is going to get screweed.
- People will be enraged.
-There will be a lot of finger pointing, and the blame will not be limited to the rapist.
AM is just the face. It is Germany itself that is getting screwed.
"...we will repeat again, nothing in Europe has been fixed"
It never will be "voluntarily". Too many political elites with too much invested in the current gameplan.
European political dreams of a USE take far higher priority over the progressive impoverishment of citizens right across Europe.
The dream will continue until it's ended by economic implosion/collapse and/or war. Before that happens, they'll steal everything from everybody.
"No, the real news is that even as Europe was facing near certain disintegration, it still was unwilling to make the compromises necessary to move away from a pseudo-union, one which is neither a federation where joint bond issuance is possible and where members are ratably responsible for each other, nor where the countries are wiling to cede sovereignty to the most stable and viable entity in order to spread risk."
Funny how soverign nations don't want to be any part of "From each (nation) according to his ability, to each (nation) according to his need"
They just want their individual people to submit to it.
last year there was a cartoon about her vacation in Greece. On arrival the customs officer requested her passport and asked how long she intended to stay.
AM: three days.
Customs: Occupation?
AM: no, just a short holiday.
Sounds like she got an order or an ultimatum. If you serve Satan long enough, things eventually turn bad.
thats what a bankster spiked dildo feels like
TO SUMMARIZE:
- Germany is getting screwed by the Euro single currency, with a portion of her workers' real earnings diverted to the PIGS through monetary policy.
- Germany is getting screwed by the US FED Reserve, sold or leased out German Gold in their custody on a fractional reserve basis.
- Germany is getting screwed by NATO and the Post-WWII order who cannot eliminate foreign state intervetion (Russia's) to prevent Germany's efforts to ensure access to willing energy providers.
- Germany is getting screwed by Russia, who is going so far as to risk WWIII in order to place, and keep their boot on Germany's air supply (energy).
WHY SHOULD WE BELIEVE GERMANY IS TURNING EAST OR WEST?
WHY WOULD GERMANY CONTINUE TO TRUST THOSE WHO ARE MANIFESTLY DEALING WITH IT DISHONESTLY?
WOULDN'T IT MAKE MORE SENSE FOR GERMAN'S TO TAKE MATTERS IN THEIR OWN HANDS AND GO IT ALONE?