This Is Why The Euro Is Finished

Tyler Durden's picture

Submitted by Raúl Ilargi Meijer of The Automatic Earth

This Is Why The Euro Is Finished

The IMF Debt Sustainability Analysis report on Greece that came out this week has caused a big stir. We now know that the Fund’s analysts confirm what Syriza has been saying ever since they came to power 5 months ago: Greece needs debt relief, lots of it, and fast.

We also know that Europe tried to silence the report. But what’s most interesting is that this has been going on for months, as per Reuters. Ergo, the IMF has known about the -preliminary- analysis for months, and kept silent, while at the same time ‘negotiating’ with Greece on austerity and bailouts.

And if you dig a bit deeper still, there’s no avoiding the fact that the IMF hasn’t merely known this for months, it’s known it for years. The Greek Parliamentary Debt Committee reported three weeks ago that it has in its possession an IMF document from 2010(!) that confirms the Fund knew even at that point in time.

That is to say, it already knew back then that the bailout executed in 2010 would push Greece even further into debt. Which is the exact opposite of what the bailout was supposed to do.

The 2010 bailout was the one that allowed private French, Dutch and German banks to transfer their liabilities to the Greek public sector, and indirectly to the entire eurozone‘s public sector. There was no debt restructuring in that deal.

Reuters yesterday reported that “Publication of the draft Debt Sustainability Analysis laid bare a dispute between Brussels and [the IMF] that has been simmering behind closed doors for months.

But that’s not the whole story. Evidently, there was a major dispute inside the IMF as well. The decision to release the report was apparently taken without even a vote, because it was obvious the Fund’s board members wanted the release. The US played a substantial role in that decision. Why the timing? Hard to tell.

The big question that arises from this is: what has been Christine Lagarde’s role in this charade? If she has been instrumental is keeping the analysis under wraps, she has done the IMF a lot of reputational damage, and it’s getting hard to see how she could possibly stay on as IMF chief. She has seen to it that the Fund has lost an immense amount of trust in the world. And without trust, the IMF is useless.

And while we’re at it, ECB chief Mario Draghi, who is also a major Troika negotiator, made a huge mistake this week in -all but- shutting down the Greek banking system, a decision that remains hard to believe to this day. The function of a central bank is to make sure banks are liquid, not to consciously and willingly strangle them.

How Draghi, after this, could stay on as ECB head is as hard to see as it is to do that for Lagarde’s position. And we should also question the actions and motives of people like Jean-Claude Juncker and Jeroen Dijsselbloem.

They must also have known about the IMF’s assessment, and still have insisted there be no debt relief on the negotiating table, although the analysis says there cannot be a viable deal without it.

One can only imagine Varoufakis’ frustration at finding the door shut in his face every single time he has brought up the subject. Because you don’t really need an IMF analysis to see what’s obvious.

Which is exactly why there is a referendum tomorrow: Alexis Tsipras refused to sign a deal that did not include debt restructuring. It would be comedy if it weren’t so tragic, most of all for the people of Greece. Here’s from Reuters yesterday:

Europeans Tried To Block IMF Debt Report On Greece

 

Euro zone countries tried in vain to stop the IMF publishing a gloomy analysis of Greece’s debt burden which the leftist government says vindicates its call to voters to reject bailout terms, sources familiar with the situation said on Friday. The document released in Washington on Thursday said Greece’s public finances will not be sustainable without substantial debt relief, possibly including write-offs by European partners of loans guaranteed by taxpayers. It also said Greece will need at least €50 billion in additional aid over the next three years to keep itself afloat. Publication of the draft Debt Sustainability Analysis laid bare a dispute between Brussels and the IMF that has been simmering behind closed doors for months.

 

Greek Prime Minister Alexis Tsipras cited the report in a televised appeal to voters on Friday to say ‘No’ to the proposed austerity terms, which have anyway expired since talks broke down and Athens defaulted on an IMF loan this week. It was not clear whether an arcane IMF document would influence a cliffhanger poll in which Greece’s future in the euro zone is at stake with banks closed, cash withdrawals rationed and commerce seizing up. “Yesterday an event of major political importance happened,” Tsipras said. “The IMF published a report on Greece’s economy which is a great vindication for the Greek government as it confirms the obvious – that Greek debt is not sustainable.”

 

At a meeting on the IMF’s board on Wednesday, European members questioned the timing of the report which IMF management proposed at short notice releasing three days before Sunday’s crucial referendum that may determine the country’s future in the euro zone, the sources said. There was no vote but the Europeans were heavily outnumbered and the United States, the strongest voice in the IMF, was in favor of publication, the sources said.

The reason why all Troika negotiators should face very serious scrutiny is that they have willingly kept information behind that should have been crucial in any negotiation with Greece. The reason is obvious: it would have cost Europe’s taxpayers many billions of euros.

But that should never be a reason to cheat and lie. Because once you do that, you’re tarnished for life. So in an even slightly ideal world, they should all resign. Everybody who’s been at that table for the Troika side.

And I can’t see how Angela Merkel would escape the hatchet either. She, too, must have known what the IMF analysts knew. And decided to waterboard the Greek population rather than be forced to explain at home that her earlier decisions (2010) failed so dramatically that her voters would now have to pay the price for them. No, Angela likes to be in power. More than she likes for the Greeks to have proper healthcare.

Understandable, perhaps, but unforgivable as well. Someone should take this entire circus of liars and cheaters and schemers to court. They’re very close to killing the entire EU with their machinations. Not that I mind, the sooner it dies the better, but the people involved should still be held accountable. It’s not even the EU itself which is at fault, or which is a bad idea, it’s these people.

But fear not, there’s no tragedy that doesn’t also have a humorous side. And I don’t mean that to take anything away from the Greek people’s suffering.

Brett Arends at MarketWatch wrote a great analysis of his own, and get this, also based on IMF numbers. Turns out, the biggest mistake for Greece and Syriza is to want to stay inside the eurozone. The euro has been such a financial and economic disaster, it’s hard to fathom that nobody has pointed this out before. Stay inside, and there’s no way you can win.

I find this a hilarious read in face of what I see going on here in Greece. It makes everything even more tragic.

Stop Lying To The Greeks — Life Without The Euro Is Great

 

Will the euro-fanatics please stop lying to the people of Greece? And while they’re at it, will they please stop lying to the rest of us as well? Can they stop pretending that life outside the euro — for the Greeks or any other European country — would be a fate worse than death? Can they stop claiming that if the Greeks go back to the drachma, they will be condemned to a miserable existence on the dark backwaters of European life, a small, forgotten and isolated country with no factories, no inward investment and no hope? Those dishonest threats are being leveled this week at the people of Greece, as they gear up for the weekend’s big referendum on more austerity.

 

The bully boys of Brussels, Frankfurt and elsewhere are warning the Greek people that if they don’t do as they’re told, and submit to yet more economic leeches, they may end up outside the euro … at which point, of course, life would stop. Bah.

 

Take a look at the chart. It compares the economic performance of Greece inside the euro with European rivals that don’t use the euro. Those other countries cover a wide range of situations, of course – from rich and stable Denmark, to former Soviet Union countries, to Greece’s neighbor Turkey, which isn’t even in the EU. But they all have one thing in common.

 

 

During the past 15 years, while Greece has been enjoying the “benefits” of having Brussels run their monetary policies, those poor suckers have all been stuck running their own affairs and managing their own currencies (if you can imagine). And you can see just how badly they’ve suffered as a result.

 

They’ve crushed it. Romania, Turkey, Poland, Sweden, Croatia — you name it, they’ve all posted vastly better growth rates than Greece. The data come from the IMF itself. It measures growth in gross domestic product, per person, in constant prices (in other words, with price inflation stripped out). Greece adopted the euro in 2001.

 

And after 14 years in the same club as the big boys, they are back right where they started. Real per-person economic growth over that time: Zero. Meanwhile Romania, with the leu, has only … er … doubled. Everyone else is up. The Icelanders, who suffered the worst financial catastrophe on the planet in 2008, have nonetheless managed to grow.

 

Yes, all data points have caveats. Each country has its own story and its own advantages and disadvantages. But the overall picture is clear: The euro has either caused Greece’s disastrous economic performance, or at least failed to prevent it.

 

What I find amazing about the euro-fanatics is that they just don’t seem to care about facts at all. They carry on repeating the same claims about the alleged miracle cure of their currency, no matter what happens. You can hit them over the head with the latest IMF World Economic Outlook and they carry on droning, unfazed.

 

I was in England during the 1990s when those people were warning that if the Brits didn’t give up the pound sterling and join the euro, they were doomed as well. For a laugh, I just went through news archives on Factiva and refreshed my memory.

 

Britain without the euro would be an “orphan country,” petted, humored but ignored, warned one leading figure. Britain would lose all influence and status. It would become a marginal country outside the mainstream of Europe. It would lose “a million jobs.” Factories would close. The car industry would collapse. Foreign investors would walk away because of Britain’s isolation.

 

Exports would plummet because of exchange-rate fluctuations. The City of London, Britain’s financial district, would lose out to Frankfurt. The London Stock Exchange would be reduced to a local backwater. Tumbleweeds would blow in the streets. (OK, I made that one up.)

 

And here we are today. Since 1992, when the single currency project began taxiing for takeoff, the countries on board have seen total economic growth of 40%, says the IMF. Poor old Great Britain, stuck back at the departure lounge with its miserable pound sterling? Just 67%. Bah.

This currency that Greece is fighting so hard to be part of is in fact strangling it. The reason for this lies in the structure of the EMU. Which makes it impossible for individual countries to adapt to changing circumstances. And circumstances always change. As a country, you need flexibility, you need to be able to adapt to world events.

You need to be able to devalue, you need a central bank to be your lender of last resort. Mario Draghi has refused to be Greece’s lender of last resort. That can’t be, that’s impossible. there is no valid economic reason for such an action, it’s criminal behavior. But the eurozone structure allows for such behavior.

In ‘real life’, where a country has its own central bank, the only reason for it to refuse to be lender of last resort would be political. And it is the same thing here. It’s about power. That’s why Greece’s grandmas can’t get to their meagre pensions. There is no economic reason for that.

In the eurozone, there’s only one nation that counts in the end: Germany. The eurozone has effectively made it possible for Angela Merkel to save her domestic banks from losses by unloading them upon the Greeks. This would not have been possible had Greece not been a member of the eurozone.

That this took, and still takes, scheming and cheating, is obvious. But that is at the same time the reason why either all Troika negotiators must be replaced, and by people who don’t stoop to these levels, or, and I think that’s the much wiser move, countries should leave the eurozone.

Look, it’s simple, the euro is finished. It won’t survive the unmitigated scandal that Greece has become. Greece is not the victim of its own profligacy, it’s the victim of a structure that makes it possible to unload the losses of the big countries’ failing financial systems onto the shoulders of the smaller. There’s no way Greece could win.

The damned lies and liars and statistics that come with all this are merely the cherry on the euro cake. It’s done. Stick a fork in it.

The smaller, poorer, countries in the eurozone need to get out while they can, and as fast as they can, or they will find themselves saddled with ever more losses of the richer nations as the euro falls apart. The structure guarantees it.

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CaptainAmerika's picture
CaptainAmerika (not verified) Jul 4, 2015 8:42 AM

no one is free who has not obtained the empire of himself   http://www.philiacband.com/propaganda.html

remain calm's picture

Laggard is a lying whore. The IMF has lost credibility and has been weakened, just like the USSA wanted

OC Sure's picture

 

 

The IMF is a blood sucking devilfish.

old naughty's picture

I came across two interesting reads last few days:

https://www.stratfor.com/weekly/beyond-greek-impasse     suggesting major problems for Germany;

http://redefininggod.com/2015/07/globalist-agenda-watch-2015-update-51-g...    suggesting IMF (and other elite orgs) are running the new BRICS bank.

dont's know...not what it seems, no?

TahoeBilly2012's picture

What fucking kind of "analysis" is needed to determine a bankrupt, starving Country needs debt relief, versus more debt? Yea, this was a big secret hidden away at the top levels of the IMF...it took double doctorates months to come to conclusions...

Headbanger's picture

Or even some efforts to boost its real GDP by developing industries there instead predatory lending to boost those of Germany.

That's the real truth of what happened to Greece.

Pump the Greek banks full of ECB liquidity so the Germans can sell them moar cars.

J S Bach's picture

The NWO Zionist Usurer Cabal has always had as its ultimate goal a global currency completely under their control.  One has to wonder whether this failure of the Euro system is a herald of the impossibility of such a diabolical idea.  I've always believed that Nature's Laws cannot be overcome in the long run.  Their tampering with basic economic laws as well as the misunderstanding of innate differences between races & cultures will be the undoing of the controllers.  Not all humans are square pegs.  They cannot all be squeezed into one common hole.  Greeks and Germans are intrisically different.  Thus, their economic and productive propensities will never mesh.  The concept of joining two such peoples under one common currency is ludicrous and unnatural.  This petri dish would be more fascinating to watch were it not for the fact that so many have to suffer needlessly at the behest of a few Satanist "elite" micro-managers. 

Save_America1st's picture

it's the 4th Reich:  Germany's monetary conquest of Europe rather than Germany's previous failed attempt to take over Europe. 

Still painful, full of death and destruction...but cities don't get as blowed up as they did before. ;-)

disabledvet's picture

YOU WILL FINALLY BE LIBERATED FROM ATHENS ITSELF MIGHTY GREECE!

YOU ARE FREEEEEEEE!!!!!

jefferson32's picture

But that should never be a reason to cheat and lie. Because once you do that, you’re tarnished for life.

Really? Are you sure? To me it seems the sociopathic criminal murderer hermetic luciferians selfproclaimed "statesmen" would have been "tarnished" by now.

 

Publicus's picture

Time to replace the Euro with the Ruble.

Tall Tom's picture

Replace it with another failing FIAT Currency?

 

All fiat currencies fail...all of them.

 

The system, including Russia's Banking System, will fail.

 

Even the Ruble has been failing for quite some time.

 

Now you may attempt to blame that on the Americans, or whatever...

 

But the truth is that Russia's Central Bank has never recovered from the 1998 Meltdown and Russian DEFAULT. It is INTERNALLY just as flawed as any other Central Bank as it is relliant on the failed Debt and Death paradigm.

 

You can junk this post but it will not change the truth.

 

Instead you may wish to spend your time bringing about your Nation's collapse so that the paradigm is forever abandoned. That will be ideal. I have no hatred for Russians, or any more hate than I have for America...or Europe, or anybody else.

 

Your Banking system is flawed...no matter where you reside.

 

Your nationalism is showing...

TruthInSunshine's picture

Very few people understand/grasp the FUNDAMENTAL point: Banks with loans to Greece WANT a bailout, and will get one, whichever way the vote goes.

The banksters are Satan's representatives on earth. May they be tortured and slated wherever they slither.

fleur de lis's picture

Greece will not easily escape the bank chains. The IMF, BIS, EU, etc., did not carry Greece along all this time just to see it say FU and walk away. This will be a really nasty fight no matter which way it goes. 

pretty bird's picture

I'm with you.  Greece ain't going nowhere.  The powers-that-be have them tightly secured.

fxpmtrader's picture

Will never ever happen - as they are the sugar daddies of our (so-called) "leaders".

jefferson32's picture

Side-note: I'm tired of this Automatic Earth trotskist "institutions want what is best for the people" publication being featured on ZH. What's the deal, Tyler?

Yes I know, I don't have to read them, which I usually don't. This one was rated 4.1 though, and the title seemed interesting. My mistake. But what about neophytes roaming by who might get turned away?

 

TuPhat's picture

Agree with you Jefferson.  Raul doesn't even understand the underlying reasons why the IMF does what it does.  How about an article that explains that the IMF is the creation of and the puppet of the US.  We use it to try and control Europe and other debtor nations.  This author is very nearsighted or has a hidden agenda for his propaganda.  Some truth and a few big lies does not make a good article.

g speed's picture

I down voted you for using the US term too loosely ---- sorry but thats a very troll like tactic---- 

buyingsterling's picture

His intent was clear, he's questioning the author's perspective. We don't need endless qualifications of every statement.

Felino De Gattis's picture

"That is to say, it already knew back then that the bailout executed in 2010 would push Greece even further into debt. Which is the exact opposite of what the bailout was supposed to do. The 2010 bailout was the one that allowed private French, Dutch and German banks to transfer their liabilities to the Greek public sector, and indirectly to the entire eurozone‘s public sector."

What is this guy talking about? In reality:

"The  Greek debt restructuring of 2012 stands out in the history of sovereign defaults. It achieved very large debt relief – over 50 per cent of 2012 GDP – with minimal financial disruption, using a combination of new legal techniques, exceptionally large cash incentives, and official sector pressure on key creditors."(http://scholarship.law.duke.edu/cgi/viewcontent.cgi?article=5343&context...)

Keep on spreading random information, maybe somebody some day will believe it.

bkboy's picture

And from the pages 2-3 of the very document you cite:

"...the buyback of December 12 did result in some debt relief for Greece...However, the debt relief effects for Greece was (sic) small both due to the voluntary approach that was chosen and the small scale of the operation."

 

So, what are YOU talking about?

Felino De Gattis's picture

I am talking about this:

"The Greek debt exchange can claim historic significance in more than one respect. It set a new world record in terms of restructured debt volume and aggregate creditor losses, easily surpassing previous high water  marks such as the default and restructuring of Argentina 2001".

Your quotation, instead, refers only to the end-2012 buybacks, while you seem to voluntarily neglect the main debt exchange sustained in 2012. Read the whole paper please, not just the parts that fit with your narrative.

g speed's picture

to any discerning individual the "statesmen" have been tarnished for centuries

disabledvet's picture

Indeed.

"We had to destroy Greece to save ourselves. BUT WE HAD A PLAN TO DO JUST THAT TOO AND THAT MAKES IT OKAY!" seems to be the "takeaway."

Drafhma's could actually be quite valuable ironically given this context.
"Out of a sense of National Pride" (let alone identity.)

Even today Confederate Currency is considered of great value to collectors of such things...

Allen_H's picture

Greece MUST just tell the IMF, ECB, EU and USSA to just FUCK OFF !!! And then join the Eastern Economic Union.

Why dont the financial whores talk about Japanese, German or terrorist USSA debt. A debt neither can ever pay.

JR's picture

Germany and the EU are vassal states, occupied and blackmailed by US international bankers and Tel Aviv oligarchs.

Lore's picture

We're all using different labels to refer to different groups in an attempt to clarify a profound crisis: DEBT IS SOMETHING TO BE MINIMIZED, REPUDIATED AND AVOIDED, NOT EMBRACED, "SOCIALIZED" AND SANCTIFIED. WE'RE WITNESSING AN ATTEMPT TO NORMALISE DEBT ENSLAVEMENT. THAT MUST END.

The issue which has swept down the centuries and will have to be fought sooner or later is The PEOPLE vs The BANKS. - Lord Acton 1875

eforce's picture

It's not meant to work, it's meant to break, to bring on the next phase...

 

6. The people, under our guidance, have annihilated the aristocracy, who were their one 

And only defense and foster-mother for the sake of their own advantage which is 

Inseparably bound up with the well-being of the people. Nowadays, with the destruction 

Of the aristocracy, the people have fallen into the grips of merciless money-grinding 

Scoundrels who have laid a pitiless and cruel yoke upon the necks of the workers. 

 

7. We appear on the scene as alleged saviours of the worker from this oppression when 

We propose to him to enter the ranks of our fighting forces - socialists, anarchists, 

Communists - to whom we always give support in accordance with an alleged brotherly 

Rule (of the solidarity of all humanity) of our social masonry. The aristocracy, 

Which enjoyed by law the labor of the workers, was interested in seeing that the workers 

Were well fed, healthy, and strong. We are interested in just the opposite - in the 

Diminution, the killing out of the goyim. Our power is in the chronic shortness 

Of food and physical weakness of the worker because by all that this implies he is made 

The slave of our will, and he will not find in his own authorities either strength or energy 

To set against our will. Hunger creates the right of capital to rule the worker more surely 

Than it was given to the aristocracy by the legal authority of kings.

 

8. By want and the envy and hatred which it engenders we shall move the mobs and with 

their hands we shall wipe out all those who hinder us on our way. 

fleur de lis's picture

The very idea that the entire Continent could be controlled by a unified currency system is funamentally stupid. The illegitimate ruling snots arrogantly factored out the completely different cultures, languages, and various histories as irrelevant.  

JR's picture

Excellent article, JS Bach, and this phrase of yours says it all:

I've always believed that Nature's Laws cannot be overcome in the long run.  Their tampering with basic economic laws as well as the misunderstanding of innate differences between races & cultures will be the undoing of the controllers.

This is brought home with a breaking story this morning in San Francisco: diversity as a deliberate displacement policy kills, as a beautiful girl was murdered on a San Francisco pier and the suspect is a five-time deported Hispanic. He was picked up by the police after the killing and promptly released. Reason: San Francisco has a policy of not holding suspects that have illegal immigration issues unless there is an active warrant against them.

Immigration authorities who know the history of this man and his long rap sheet immediately requested the sheriff in San Francisco to hold the suspect until they could come to pick him up for charges. But he was gone, released because of the tragic police policy in San Francisco – a policy put in place because the “Hispanic community is uncomfortable” with undocumented Mexicans being held as suspects before formal charges are filed.

And there you have the Independence Day in America, the celebration of the fall of a great country.

Last week’s Supreme Court decision on gay marriage was the crowning multicultural death blow to sanity in America, to the smashing of the keystone of the Founder’s culture. With no Protestants on the Supreme Court and four Jews, the central tie of the American Christian family – marriage – was torn out by the roots to make America “safe” for Jewish power (in their own documented words).

http://www.americanthinker.com/blog/2015/07/random_killing_trumps_san_franciscos_sanctuary_city_policy.html

Excerpt from article:

Freya Horne, counsel for the sheriff's office, said Friday that federal detention orders are not a legal basis to hold someone, so Sanchez was released April 15. San Francisco is a sanctuary city, and local money cannot be spent to cooperate with federal immigration law.

The city does not turn over people who are in the country illegally unless there's an active warrant for their arrest, she said. Horne said they checked and found none. ICE could have issued an active warrant if they wanted the city to keep him, she said.

"It's not legal to hold someone on a request to detain. This is not just us. This is a widely adopted position," Horne said.

Billy the Poet's picture

He was picked up by the police after the killing and promptly released

 

Incorrect. Sanchez had been arrested before the murder on drug charges. ICE requested that he be held after those charges were resolved but SF refuses to do so as a matter of policy. Then Sanchez killed the woman. Now he is in custody.

 

He was released from federal prison in March after serving several years for felony re-entry after deportation.

Lopez-Sanchez is in San Francisco County Jail and faces a homicide charge. ICE has requested another immigration detainer.

http://www.cnn.com/2015/07/03/us/san-francisco-killing-suspect-immigrant...

TBT or not TBT's picture

Which is what obese people say having a heart attack.   

JR's picture

Thanks for the correction; the sequence was incorrect and I regret the error.

Billy the Poet's picture

 

 

You're welcome. The headlines were misleading for this story. They did make it sound like he had been released after the shooting.

Tall Tom's picture

+1000 credibility points  JR.

 

You made an error, recognized it, and promptly took correction.

 

WE need more of that. And yes I am also looking in the mirror.

Ace006's picture

>> released from federal prison in March after serving several years for felony re-entry after deportation  <<

Released back onto American territory. Not taken to the border?

If Obama's America were an individual person it'd be someone with some kind of creepy neurotic obsession. Can we get our country back from that freak?

fleur de lis's picture

San Francisco is a beautiful city. But it is ruled by reckless, irresponsible nuts. Any decent person who lives there should either move, or be prepard to respond when confronted by criminals who have been made comfortable by the city's rulers. The law is not on the side of the citizenry, it lives in the halls of liberal academia and the bistros frequented by the rulers. In other words, YOYO--you're on your own. San Francisco is essentially lawless.

SeattleBruce's picture

How can there be no Protestants in the SCOTUS?  Any other people group so clearly in represented in such an important way would be screaming to high heaven (at least).

Billy the Poet's picture

The Blue Team has loaded up on Jews (3) and lent a hand (1) to the Red Team which has loaded up on Catholics (5).  Not particularly representative or even diverse.

WernerHeisenberg's picture

Sotomayor is marketed as "Hispanic" but is also a Jew - although you will have a lot of difficulty discovering that from MSM or wikipedia sources.  So the OP was correct.  The SC is 5 Catholics & 4 Jews - no protestants.  The footsoldiers of the American Revolution were overwhelmingly protestant.  Yes, Hamilton was jewish, and many of the oligarchs of the revolution were freemasons, but at the grassroots level, the revolution was a protestant project.  For DARs, there is nothing to celebrate today.

TahoeBilly2012's picture

Well stated Werner. Catholics and Jews are collectivists by nature, for different reasons. People love America for its indepedent streak, which is a direct result of its Protestant morality, now sadly bastardized and dead. They will keep pumping up the "freedom" thing up as long as it keeps sticking.

Ace006's picture

>> misunderstanding of innate differences between races & cultures <<

If only it were a misunderstanding. The reigning corksoakers know damn well what insidious, destructive differences there are and, with malice aforethought, intend to jam them down the throats of whites in every Western country. And have been doing so since 1965 (in the case of the US).

shovelhead's picture

And submarines.

Anyone can buy a Mercedes but you really are pimping when you have your own German U-Boats.

Billy the Poet's picture

Like Sinatra in Assault on a Queen.


Tall Tom's picture

Well when I can eat Claymores and shit out Hand Grenades then who needs a God damned submarine?

 

(Now that was fuckin' funny. My brother pointed out that response of yours to one of my posts, a response which I  had not read until last night. Thanks for the laugh.)

 

And, no, I do not watch TeeVee.

fleur de lis's picture

The EU started off in the twisted mind of a maladjusted elitist called Richard Coudenhove-Kalergi. In 1922 he founded the Pan-European project, which sought to dilute European identity by eliminating borders so that the continent would be regional groups instead of nations. This one social misfit came up with the unnatural EU idea, which immediately attracted like-minded psychos. It accelerated after WW2 when everything was up for grabs and various populations were reduced to political pawns.

In 1925 Coudenhove-Kalergi published his book, "Practical Idealism" which is the EU blueprint. It's stated goals are astonishingly similar to the current social systems being imposed on Europe, with no regard for the chaos that follows. 

The EU was only set up so that a small group of psychopaths could control the continent, its people, reasources, and destiny. The EU is a fake, sick, decaying ponzi.

Kobe Beef's picture

+1 for the Kalergi reveal. People need to know that all these Bad Ideas have a pedigree.