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The Real Reason the EU Is Finished

Phoenix Capital Research's picture




 

For three years now we’ve been repeatedly told that the Greek situation was “fixed.” Those were lies. And those lies have resulted in a gross misallocation of capital both financial and political.

 

From a macro perspective, anti-austerity/ anti-Euro political parties have seen a chance to capitalize on popular dissent. Simultaneously, pro-Euro groups have been forced deeper and deeper into the deception that somehow the Euro is a good thing for all involved. Distrust in politics and in the Euro is now higher than ever in Europe.

 

The impact of this will be severe. Europe as a whole is socialist with the percentage of the population employed by the Government ranging from 30% in Germany (the most free-market) to 56% in France (the most socialist).

 

You’re talking about a joint economy of $16 trillion in which 30%-56% of the population is employed b the Government and the Government is shredding democracy and the legal system. The cultural reactions will have financial repercussions for years to come.

 

The Euro has taken out its bull market trendline going back to 2003 (green line). It’s finding a little support at 105 but the chart suggests we’re going below parity to 85 or so in the coming months.

 

 

It’s not difficult to see why.

 

The EU was formed based on specific financial regulations (the Maastricht treaty) and border regulations (the Schengen treaty). The ECB and EU leaders have proven they are more than willing to break ALL of these in their efforts to maintain the status quo.

 

Even more disturbing is the fact that even basic tenants of common law have been destroyed in order to benefit the ruling classes. Private property, in the form of savings deposits, have been confiscated in order to prop up insolvent banks. Meanwhile no one responsible for the banking crisis has gone to jail… and connected insiders are warned weeks in advance to get their money out.

 

When you shred democracy and the central tenants of a legal system in order to benefit the very few, it’s only a matter of time before the whole system collapses.

 

The EU has already crossed the Rubicon in this regard. And this has laid the stages for the dissolution of the Euro in its current form. When this crisis hits, it will be entire countries going bust, not just banks.

 

Remember, NONE of the troubled PIIGS countries have actually lowered their debt levels during the "recovery" of the last two years.  All that happened was that their bond yields fell so their debt was more serviceable. So all of them will be entering new debt crises in the coming months.

 

Spain's Debt to GDP has risen from 69% to 98%.

 

Italy's Debt to GDP has risen from 116% to 132%.

Portugal's has risen from 111% to 130%.

In simple terms, the “problem” countries of the EU are in worse shape than they were in 2012 when the whole system almost collapsed. All we need is for their bond yields to start spiking.

 

They just did:

 

 

The clock is ticking... Greece is just the tip of the iceberg. When Spain and Italy come knocking asking for debt forgiveness... it's GAME OVER for the Euro.

 

If you've yet to take action to prepare for this, we offer a FREE investment report called the Financial Crisis "Round Two" Survival Guide that outlines simple, easy to follow strategies you can use to not only protect your portfolio from it, but actually produce profits.

 

We are making 1,000 copies available for FREE the general public.

 

To pick up yours, swing by….

http://www.phoenixcapitalmarketing.com/roundtwo.html

 

Best Regards

Phoenix Capital Research

 

 

 

 

 

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Fri, 07/10/2015 - 09:23 | 6294850 Contrariologist
Contrariologist's picture

Uhhh...that should be "tenets" not "tenants". Damn, if you're trying to make a persuasive, high-minded argument, use correct terminology.

Sun, 07/12/2015 - 21:12 | 6304378 Ides of November
Ides of November's picture

I was going to say exactly that.


Even more disturbing is the fact that even basic tenants of common law have been 

"tenets".

Unless you're somehow referring to people renting from "common law". I don't think you are.

Fri, 07/10/2015 - 09:13 | 6294789 Latitude25
Latitude25's picture

From  NWO perspective.  Feudalism lasted for hudreds of years.

Fri, 07/10/2015 - 08:11 | 6294487 coltek
coltek's picture

"tenants" huh?...

Fri, 07/10/2015 - 07:27 | 6294322 skillyhog
skillyhog's picture

I would luve to propose taht we BAN the wohle "my sster makes $7,000 por weak worcking frm home" and asks fir a self-impsoed stop to teh sneering spell-chcek Nazism. Being the lovr of fredom that I yam howveer, I wold have to refrane from proposnig such a thing.

Sun, 07/12/2015 - 21:16 | 6304385 Ides of November
Ides of November's picture

Writing tenants instead of tenets is not a spelling problem - it is a grammar problem - which is a larger error and less forgivable.

Fri, 07/10/2015 - 05:54 | 6294160 Gavrikon
Gavrikon's picture

Yeah, sure.  The EU should be finished, the US should be finished, Gold and Silver should be kicking ass any day now.

Yet it NEVER happens.  It's like a fucking horror movie where the damned zombie keeps coming on no matter how many bullets you pump into the fucker.

 

Fri, 07/10/2015 - 06:53 | 6294240 ramgold2206
ramgold2206's picture

factually incorrect...but your position is understandable because your time frame is just too narrow ... the euro is only 16 years old and look at the damage it is causing

 

www.teamramgold.com for the most competitive small weight gold bullion on the net

Thu, 07/09/2015 - 21:52 | 6293134 Midnight Rider
Midnight Rider's picture

We've seen the rule of law shredded here in the US too for the ruling class. We won't be far behind Europe in the dissolution of our heavily indebted economy. Rates will be forced higher and things will equally implode.

Thu, 07/09/2015 - 20:45 | 6292870 Radical Marijuana
Radical Marijuana's picture

None of those countries are "socialist" according to the dictionary definition of that word. It deliberately ignores the social facts to assert that countries are "socialist" because of the degree that the government employs people. I have repeated the same points several times previously, with the most recent example being a comment under this article:

http://www.zerohedge.com/news/2015-07-08/greece-illustrates-150-years-socialist-failure-europe

Greece Illustrates 150 Years Of Socialist Failure In Europe

I despise the people who use the label "socialism" in ways that have nothing to do with either the dictionary definition, nor the social facts. However, I can understand the ulterior reasons for such deliberate misrepresentations.

https://en.wikipedia.org/wiki/Socialism

Socialism is a social and economic system characterised by social ownership of the means of production and co-operative management of the economy.

What people seem to be calling "socialism" are mostly the relatively superficial ways that the governments appear to be redistributing what is produced to those who do not apparently produce. However, those who focus upon the poorer people who benefit from that tend to deliberately ignore the more significant ways that the richest are much more massively subsidized by the governments than the poorest are!

That kind of "socialism" is NOT based on social ownership of the means of production, which are overwhelmingly still privately owned. There is NOT co-operative management of the economy, but rather runaway governmental corruptions, proportional more to the funding of the political processes being influenced by the special interests who make the largest financial contributions to the politicians, rather than proportional to the size of the public groups who are more obviously being subsidized by government actions. The systems of debt slavery and warfare based on deceits always orders of magnitude bigger than the welfare systems. Indeed, by far the greater subsidizations done by governments benefit the wealthy, who dominate the funding of politics, than the poor, who play an insignificant role in the funding of the political processes.

The label "socialism" is routinely repeated on Zero Hedge in ways that have nothing to do with its dictionary definition, nor the social facts. However, that never makes any difference to those who continue to spout that bullshit anyway, because they continue to have their own agenda for doing so, due to the ways that they have adapted to fit into the established systems of organized crime, surrounded by controlled opposition groups. Much of the stupidest material published on Zero Hedge is due to people not wanting to understand general energy systems, or wanting to misunderstand those in the most absurdly backward ways possible.

Civilization has actually been based on being able to back up lies with violence for a long, long time, which systems have been able to develop at an exponential rate due to progress in physical sciences. However, that is deliberately prevented from happening with respect to political science, since the political economy which became based upon backing up legalized lies with legalized violence does NOT want to admit and address the ways that civilization does, and must necessarily, operate through ENFORCING FRAUDS. Those are the systems that actually exist, while all of the other typical labels for how political economy operates are integrated facets of those enforced frauds, which are designed to conceal, and thereby continue to enable to those enforced frauds to continue.

In order to have more rational discussion of political economy, we would have to recognize how and why most of the labels, like "socialism" are most routinely used in ways which have nothing in common with either their dictionary definitions, nor the actual social facts. However, any such attempt at becoming more rational contradicts the history of successful warfare being based on backing up deceits with destruction, and successful finance being based on enforcing frauds, which requires the paradoxical applications of covert human intelligence to primarily be to become better at being dishonest and backing that up with violence, and/or requires overt human intelligence to be neutralized by adapting to accept living inside of worlds controlled by lies and violence, in ways that deliberately do not challenge or discuss those lies. Hence, the entire political economy is now based upon a public "money" supply created out of nothing as debts by privately controlled banks, which frauds are enforced by governments, while those basic social facts are deliberately ignored and disregarded as much as possible within the mainstream of the society that is based upon doing that!

It makes perverse sense that it is so common for so many people to deliberately misuse labels like "socialism," and for it to be so extremely wide-spread for people to deliberately distort more scientific overviews of how human energy systems are situated inside natural energy systems. In that context, the development of the industrial revolutions has driven INCREASINGLY INTENSE PARADOXES, that progress in understanding general energy systems has been deliberately obstructed and sabotaged when those methods were tentatively applied to better understand human energy systems.

There has never been anything remotely like the dictionary definition of "socialism" existing anywhere in Europe. Having the government employ one third or half the people does NOT fit the dictionary definitions of "socialism," especially since the public "money" supplies have been almost totally privatized, which is way more important, and TOTALLY OPPOSITE TO "SOCIALISM!" Rather, what has actually existed is that the international bankers, as the biggest gangsters, or the banksters, have been dominating all of the political events in Europe for a long time, while advancing their agenda of debt slavery through wars based on deceits.

In general, there are at least TWO ERRORS. The FIRST is to not perceive that human civilizations actually operate according to the principles and methods of organized crime, and SECOND to not perceive that that must necessarily be so because organized crime methods best match the ways that human energy systems had to operate. On Zero Hedge, most of the articles and comments are relatively intelligent when presenting an analysis of the FIRST set of social facts, regarding the problems caused by the banksters dominating the political economy. However, pretty well everything else continues to drown in the same old-fashioned bullshit regarding those problems. Whenever it comes to understanding human beings and civilizations better as manifestations of general energy systems, inside the context of the relatively objective environmental energy systems, the typical content published on Zero Hedge becomes stupid and stupider!

I totally agree with the article above by Phoenix Capital stating:

When you shred democracy and the central tenants of a legal system in order to benefit the very few, it’s only a matter of time before the whole system collapses.

However, in my view it is deliberately stupid to blame that on "socialism," since the existing systems are NOT remotely close to the dictionary definitions of "socialism," but rather, the almost totally privatized monetary system is totally opposite to what "socialism" is supposed to be. However, I have no doubt that Phoenix Capital, like so many others that repeat that bullshit view of blaming the problems on "socialism," will continue to deliberately ignore both the dictionary definitions and the social facts regarding how the real systems actually worked. The runaway debt insanities that Phoenix Capital has been correctly outlining are due to runaway DEBT SLAVERY BACKED BY WARS BASED ON DECEITS, not based on "socialism."

However, since the existing systems are actually based upon a core of organized crime, surrounded by controlled opposition, I expect that Phoenix Capital will continue to present the typical characteristics of one of those kinds of controlled opposition groups, which continue to present superficially correct analyses the debt insanity situations, while not doing the deeper analysis which is necessary to perceive that the banksters made and maintained their systems, that controlled politicians who were their puppets, and were also able to dominate the mass media, so that enough of the masses of muppets would be misinformed, and lied to by omission, in order that the banksters' debt slavery systems could drive through the resulting debt insanities.

Phoenix Capital's series of articles have been typical examples of superficial analysis, which is superficially correct, but profoundly wrong from the point of view of a deeper analysis. The real world operates according the principles and methods of organized crime, with the international bankers being the biggest gangsters, that have captured control over governments. Therefore, that is context inside of which governments end up employing one third or one half of the people. That is NOT "socialism." There are no good, generally understood political labels for what happens after the best organized gangs of criminals are able to capture control over the public "money" supply, and then leverage that up and up to control everything else which is controlled through those fundamentally fraudulent financial accounting systems. But nevertheless, one thing that is sure is the existing system is NOT remotely close to being "socialist."

Thu, 07/09/2015 - 22:37 | 6293310 tangent
tangent's picture

Your definition has more questions for me than answers. "Co-operative managed economy." So, how can an economy be managed without co-operation, and who are the managing parties?

Lets say I apply that definition to my household. So I manage the household budget with my wife, but we don't co-operate. What?! That does not make sense. I'm not seeing how a manged economy could be anything but co-operatively managed if it is manged at all. What would an un-coperatively managed economy mean?

Secondly, under the Socialism definition you provide, "society" owns the means of production. I suppose that would differ from communism where "the workers" own the means of production.

In this socialism, is everyone equal owner of all means of production? So, I have the same right to say, go to my Nuclear power plant to tweak the setting as the next guy? Or, are some people more equal than others?

Thu, 07/09/2015 - 23:56 | 6293548 Radical Marijuana
Radical Marijuana's picture

"What would an un-cooperatively managed economy mean?"

It means what actually has existed during the development of larger and larger social pyramid systems: there is management through backing up lies with violence, that became more sophisticated as integrated systems of legalized lies, backed by legalized violence. Those who benefit most from that system have the advantages to keep it going. At the present time, that is mostly done through the funding of the political processes, whereby those with the most money to donate to the political processes are able to bribe the politicians. They also can threaten, and intimidate, since in the most extreme cases the covert controllers will pay for politicians that can not otherwise be bribed or intimidated to be assassinated.

It is basically the same mechanisms as John Perkins popularized in his book "Confessions of an Economic Hit Man." When people can not voluntarily agree to cooperate, then they end up fighting. After the fighting starts, then backing up deceits with destruction, and being treacherous, tended to be the most successful ways to fight. The EXISTING political economy is based upon enforced frauds, which emerged out of the long history of warfare being based upon backing up deceits with destruction, which are ways that the principles and methods of organized crime have been able to achieve the "un-cooperatively managed economy." The police and army are paid with the same "money" made out of nothing as debts that everyone else is forced by the police and army to use to pay their taxes. The legalized counterfeiting of the public "money" supply by privately controlled banks is enforced by governments. Those nearer to the SOURCE of that "money" do fantastically well, while the further one is from the SOURCE of that "money," the more disadvantaged one becomes. Thereby, the vicious spirals of that "money" through the political processes reinforce themselves in each short-term increment.

While many people cooperate with each other on lower levels, and indeed, within groups like the police or the army they also cooperate with each other, HOWEVER, the overall systems were made and maintained by backing up frauds with force. Those who do not "cooperate" end up having to deal with the police and/or the armed forces. Those who adamantly refuse to "cooperate" end up being murdered. However, that is relatively rare. Still those events are symbolic enough, and pivotal enough, to have wide-spread ramifications.

In my reply here, I will not try to travel as far down the rabbit hole, or as high up the tornado, as it takes to attempt to more fully understand that while most people adapt to living through relative cooperation inside of the established systems, those systems as a whole were made and maintained by backing up lies with violence. The basic "cooperation" has been that of the imperative of slavery: "Do what I say, or I will kill you." Those who do what they are told survive as slaves, and may well cooperate with other slaves. Meanwhile the slave masters rule through more and more sophisticated systems of social slavery, with the monetary systems based on enforcing frauds being DEBT SLAVERY, inside of which ALL TAXPAYERS are the slaves that underwrote the creation of the public "money" supply out of nothing as debts, by those tiny minorities at the top of the social pyramid systems who have the legal privilege to make that "money" out of nothing, which does not exist until a "borrower" signs the loan to enable that to be created ex nihilo.

Phoenix Capital tends to deliberately ignore that, and instead focuses upon the more superficial ways in which the governments have operated inside of that system, to "borrow money" from private banks, which was then used by governments to pay for their welfare and warfare programs. What has been happening is due to the leverage of the best organized gangs of criminals, primarily through them being able to dominate the funding of all aspects of the political processes. Phoenix Capital's approach is to regard the ways that governments spend the money that they "borrow" from privately controlled banks to be spent in "socialist" ways. However, Phoenix Capital deliberately ignores that the SOURCE of the debt insanities is the same as the SOURCE of the public "money" supply, namely that governments are being controlled by the best organized gangsters, the banksters.

Phoenix Capital deliberately does not want to go through the severe cognitive dissonance it takes to face the facts that civilization actually operates according to the principles and methods of organized crime. There is NOT "cooperatively managed economy" ... Rather, there is an extremely "un-cooperatively managed economy," that most people do not see, because they were born and raised inside of the established systems, and take those for granted. Rather, in their own lives inside of the established systems, most people are living in relatively cooperative ways with each other.

Families may well work out ways to cooperate. As you suggested: "So I manage the household budget with my wife, but we don't co-operate. What?! That does not make sense."

BUT, suppose a small gang of criminals staged a home invasion of your family, and suppose they made credible death threats, that if you did not cooperate with them, then members of your family would be murdered. That kind of "home invasion" is what has happened to all of the governments of Europe. Their basic systems are DEBT SLAVERY BACKED BY WARS BASED ON DECEITS. Those are the deeper reasons how and why the numbers generated by those debt slavery systems have become debt insanities.

Phoenix Capital does a great job of presenting the facts that those numbers have indeed become debt insanities.

However, Phoenix Capital tends to blame that on the banksters' political puppets, and the masses of muppets who vote for them, which keep the established debt slavery systems going. However, that is NOT due to "socialism," except when perceived in very superficial ways, rather, that is due to triumphant organized crime methods being applied to the political processes, so much, for so long, that the vast majority of people never even begin to think about that, because they have been conditioned to not want to think about that.

That private banks are allowed to make the public "money" supply out of nothing as debts for everyone else is the most important, central social fact. However, it is also the most deliberately ignored by the mass media, and the schools, as well as by the more mainstream economists. The banksters' political puppets tend to never discuss that they are puppets of those banksters. The masses of muppets are misinformed and uninformed during their whole lives, in order that they will not understand, and not want to understand, that they are voting for politicians who are almost all the banksters' puppets.

Phoenix Capital tends to be blaming the victims, i.e., blaming the debt slaves, for the problems inherent to the runaway debt slavery systems, which were originally made and maintained by the banksters. While most people live inside of those systems, by relatively cooperating with each other, the overall systems that they are adapted to live inside are NOT cooperative, but rather, were due to applying the methods of organized crime, in successfully strategic ways, through the history of bribery, intimidation and assassination.

P.S.

tangent, if you are not convinced that I am describing the existing social facts regarding the banksters, then I recommend you take the time to watch enough of these Excellent Videos on Money Systems

Tue, 07/14/2015 - 00:08 | 6309455 tangent
tangent's picture

I appreciate the extremely complete answers to the first part of my questions about your Phoenix Capital critisisms, and I suppose you are saying the answers to the second part of my questions regarding your use of the word "socialism" can be found in the referenced videos? (how society-owned production could work in practice).

Thu, 07/09/2015 - 21:47 | 6293110 Setarcos
Setarcos's picture

Agreed and I wish he knew what a "tenant"is , i.e. a renter of property.  I think he means "tenet".

 

I'm not much of a pedant, but when someone purports to be especially well informed, I expect above average literacy, such as correct usage of "socialism" and several other abused words like "liberal" and "progressive".

Fri, 07/10/2015 - 00:12 | 6293646 Radical Marijuana
Radical Marijuana's picture

Hah!

You are right.

I did not even notice that mistake,

even while reading it several times!

English is full of tricky words which sound the same, but are spelled differently. I tend to hear words when I read, and therefore, I heard a word that I recognized the meaning of as "tenets," even though that was actually spelled "tenants."

Generally, it is extremely difficult for anyone to proofread their own writing, because they keep on seeing what they meant to say, rather than what they actually said!

Fri, 07/10/2015 - 04:14 | 6294042 Setarcos
Setarcos's picture

I agree that it is hard to proof-read one's own writings, but Phoenix keeps making the same mistake article after article and several times in this one.

 

Anyone can make a typo, or get a spelling wrong and not pick it up from tme to time, but it is sloppy or plain ignorace to persist whilst feigning erudition.

 

I have some pet "hates" which I usually skip - well I'm not perfect either - but there's "your" instead of "you are", "data" instead of "datum" when appropriate, similarly "comprized of" when it should be "comprizes".

 

OK maybe I am a bit of a pedant, but when a person writes main articles for ZH (any site) I expect at least English-speaking authors to know word definitions, otherwise we descend into an Orwellian world, or the one Lewis Caroll put in the mouth of Humpty Dumpty, "When I use a word it means anything I want it to mean."

 

Shades of the Tower of Babel.

 

English is a very mongrel language, comprizing a mix of at least Greek, Latin and Saxon words, so that it s too easy to talk at cross purposes and argue, for instance, about the difference between the "soul" and "psyche", swhereas there is NO difference - just essentially the same people arguing about spurious differences in attempts to kno what is really going on in this World and the Universe.

 

My fall-back position is the same as Socrates.

 

Everyone is fundamentally ignorant, of course including myself, but it is one thing to just write comments and another to submit articles which should surely be subject to a higher standard than commnts?

Fri, 07/10/2015 - 13:02 | 6295862 Radical Marijuana
Radical Marijuana's picture

Me too:

"Everyone is fundamentally ignorant, of course including myself ..."

Thu, 07/09/2015 - 18:31 | 6292392 BoPeople
BoPeople's picture

Yeah, based on the way it worked in Egypt, it only took a thousand years or so. Rome cut that time down to 4 or 5 hundred years.

Thu, 07/09/2015 - 18:47 | 6292463 GoinFawr
GoinFawr's picture

HFT robots should be able to do the job in a week then

Thu, 07/09/2015 - 18:44 | 6292443 GoinFawr
GoinFawr's picture

HFT robots should be able to do the job in a week then

Thu, 07/09/2015 - 17:38 | 6292207 Fishhawk
Fishhawk's picture

Right, pitz.  That is because banks used to be trustees, and the changes were not publicized when the criminals took over.  There is nothing visible in the transaction that suggests that the bank is a counterparty; it looks like an agent, limited to executing your financial instruments for you.  And it looks like it has a fiduciary duty to protect your money.  Thus the propaganda and misdirection has been successful: no one noticed when they stopped working for you and started working for themselves, risking your money to do so.

Thu, 07/09/2015 - 16:53 | 6292002 farmerbraun
farmerbraun's picture

Central tenants?
WTF?
You mean tenets?

Thu, 07/09/2015 - 18:21 | 6292352 GoinFawr
GoinFawr's picture

I've found tenants to be central to shredding carpets; it's only a matter of time before the shag collapses.

Thu, 07/09/2015 - 16:27 | 6291863 large_wooden_badger
large_wooden_badger's picture

Hurry, only 50 copies left

Thu, 07/09/2015 - 20:29 | 6292822 ah-ooog-ah
ah-ooog-ah's picture

no. 1000 copies left.  The magic of CTRL-P

Thu, 07/09/2015 - 16:40 | 6291604 pitz
pitz's picture

"Savings Accounts" are unsecured loans to the banks.  What's so hard to understand about that?  The dummies who make them deserve their fate when they lend to bankster scum.

Thu, 07/09/2015 - 16:49 | 6291982 El Vaquero
El Vaquero's picture

They don't teach that in high school economics. 

Thu, 07/09/2015 - 20:30 | 6292824 ah-ooog-ah
ah-ooog-ah's picture

they don't teach kids anything about the real world

Thu, 07/09/2015 - 22:09 | 6293214 Manthong
Manthong's picture

Not only that, but the history they are taught is a feint to keep them from knowing the truth.

Thu, 07/09/2015 - 17:09 | 6292080 pitz
pitz's picture

Indeed.  The metaphor the kids still learn is that banks are places with vaults where your money is "stored" for "safekeeping".  As though the bank is a trustee, not a counterparty. 

Thu, 07/09/2015 - 15:26 | 6291534 KnuckleDragger-X
KnuckleDragger-X's picture

Karma's a bitch, but the EU is a whore......

Thu, 07/09/2015 - 15:24 | 6291528 More Ammo
More Ammo's picture

Are they sure they are talking about EU?  Sounds like the USSA to me...

Fri, 07/10/2015 - 05:18 | 6294118 Nassim
Nassim's picture

Learn English.

There is no such thing as "central tenants"

I think he means "central tenets"

http://dictionary.reference.com/browse/tenet

Fri, 07/10/2015 - 08:07 | 6294462 coltek
coltek's picture

Yep!

 

Come on America - Buck up!

Thu, 07/09/2015 - 16:58 | 6292021 CarpetShag
CarpetShag's picture

HarHar too right. Phoenix are just more East Coast armchair analysts rubbing their asses and farting in their leather office upholstery and drawing charts with fancy trendlines that don't mean dick.

Thu, 07/09/2015 - 22:05 | 6293192 Manthong
Manthong's picture

My thoughts as well..

“When you shred democracy and the central tenants of a legal system in order to benefit the very few, it’s only a matter of time before the whole system collapses.”  

Sounds like the same reasons the U.S. is just about finished.

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