News & Analysis
EU's Directed History Grinds On
EU summit to consider 'reform contracts' for all euro states ... Draft ideas ahead of next week's EU leaders summit foresee reform contracts for all euro states, political agreement on a full banking union and, post-2014, a budget for the eurozone. The still-to-be finalised conclusions, seen by EUobserver, envisage progress towards profound economic and monetary union - the lack of which is considered to have led to the eurozone's current crisis - in three phases. By March next year, EU leaders are supposed to agree the "operational framework" for a single European banking supervisor, the first of three planks necessary for full banking union. The proposed second phase (2013-2014) is where the EU leaders are likely to start haggling over language. It suggests that legislative proposals for a bank resolution directive and an EU-wide deposit guarantee scheme are made. If this passes there will "in essence be political agreement on a full banking union," said one contact. – EU Observer
Dominant Social Theme: We need bigness. We crave it.
Free-Market Analysis: As we and others have documented, EU officials decades ago anticipated an economic crisis that would yield a political union. That plan obviously remains unchanged.
We can see from the above article excerpt that what was plotted long ago is blossoming today. While the dominant social theme is surely one having to do with bigger being better, the subdominant social theme predictably involves the strengthening of the EU's financial sphere.
But was the lack of a "monetary union" the real reason for the EU's current troubles? Of course not. It is simply more directed history. Create a crisis. Make numerous attempts to "solve it." And finally, generate the solution you intended to inflict from the beginning. Here's more from the article:
The thinking in EU council president Herman Van Rompuy's cabinet is that all euro countries need to undertake reforms, no matter how fiscally prudent they are.
If the idea flies, the European Commission will be tasked with making a proposal on "such contractual arrangements" during 2013.
The draft conclusions imply that a possible change to the EU treaty would only come after European parliament elections and a new commission is installed in 2014.
In this phase - stage three - member states would aim for a "progressive pooling of economic sovereignty ... as well as reinforced solidarity between member states."
This could include a "fiscal capacity" or eurozone budget with a "degree of automatic stabilisation at the European level" meaning a limited form of automatic aid transfers for countries that suddenly find themselves in trouble.
By then more and more core decisions would need to be taken at EU level including on national budgets and "enhanced coordination of economic policies" particularly in the areas of taxation and employment.
EU leaders are due to debate these pre-cooked conclusions at a two-day summit starting Thursday next week. The conclusions will be accompanied by a short paper presented by Van Rompuy on a "roadmap" to the economic and monetary union (EMU).
You see how it works? Because the process is a long one, we are not supposed to realize it is preordained. Because it is complex, we are not supposed to be aware of the much simpler reality.
But the reality IS simple. A group of individual nation-states, independent for several thousand years, are being stampeded in a particular direction.
At the top, the politicos and bankers work for the power elite that is ochestrating this particular chapter of directed history. Global governance is the goal, and the EU and other such planned regional unions are intended to aid in its creation.
Conclusion: Understand the powerful logic of directed history and you will be a good deal nearer to understanding the forces that affect you, your family and your colleagues every day. And once you comprehend, you can act.
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Posted by dlgertz on 12/11/12 01:12 AM
I have been reading your posts for over a year now and i believe that forewarned is forearmed. I believe that I comoprehend what is happening, but I am not seeing how this directed history is affecting my everyday life, so I am at a loss to know how to act. I was a very successful hombuilder and have not built a house in five years. I believe the age of enterpernurship is over given what they have done to this country. how is one supposed to get passionate about anything when there seems to be such a lack of opportunity.?
Reply from The Daily Bell
"But I am not seeing how this directed history is affecting my everyday life."
Via wars, artificial scarcity, taxes, and eventually perhaps various kinds of confiscation, drought, even artificial famine in our view ... A bit of "prepping" may be prudent. And good luck to you.
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Posted by 1776 on 12/10/12 01:40 PM
Published on Dec 10, 2012 From Firing Line, William F Buckley Jr hosts a discussion on social justice with George Roche III (Hillsdale College) and Noble Laureate economist F. A. Hayek.
Click to view link
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Posted by Danny B on 12/08/12 06:43 PM
Oh Great Bell, here is an article that mentions an old tired idea. Politicians STILL don't understand the difference between solvency and liquidity. This ignorance has continually caused politicians to be overly optimistic in their economic projections.
Click to view link
BTW, it seems that there is an approaching storm over margin reserve requirements that will take effect next month. Traders will need between $1.7---12 trillion on day one.
Click to view link
This appears to be a forced inducement for traders to buy GOV securities.
January 2013 should be quite exciting. We can look forward to;
Expiration of FDIC insurance of over-$250k accounts.
Click to view link
End of bush tax cuts.
Big spending cuts
Fast approaching debt ceiling
Cash requirements for traders
Growing danger to 401ks
January should be one big party.
In other news, pot and freedom score big.
"Rep. Diana DeGette (D-Colorado) introduced a bipartisan legislation before Congress that will amend the US Controlled Substances Act to provide that federal law shall not preempt state marijuana laws."
6 out of 10 Americans want Pot legalized.
Click to view link
Meanwhile, world GOV authorities are up in arms about pot legalization. It's a fascinating push-pull contest. Washington state says that they will save $ 100 million annually. Consider that to be $ 100 million stolen from the mouths of starving people in the prison and legal industries.
Yep, alcohol, prisons and lawyers are soon to be among the suffering.
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Posted by Danny B on 12/07/12 10:30 PM
The feces-for-brains people who are behind the forced destruction of sovereignty seem to have the idea that they can just push the "cancel" button as regards to nationalism and self interest. They seem to believe that this horrific crash will leave everyone so destitute that they will roll over and accept whatever system is offered/instituted.
The old frictions are coming back into force.
Click to view link
Draghi and the "damp rag" seem to believe that they are untouchable. That is not true.
Their lies about claimed national solvency may fool the voters but, they won't fool the bond market.
Schauble plans to wait it out long enough for Greece to crash and leave. Merkel plans to stall long enough to get re-elected. There is very little time left for Spain and France.
The EU economy is shrinking so fast that no bond will be attractive.
I suspect that those who foresaw and forced the crash thought that they could arrest the descent at some plateau. Failing to arrest the descent would/will create huge fractures between France and Germany. Eventually France will lash out at Germany if the French standard of living is drastically reduced. France already refuses to cut agricultural subsidies.
The current Eurozone edifice was built on debt to make it appear solvent and attractive.
The dream of a EUSSR can never come to fruition if it can't offer some kind of "carrot".
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Posted by johnblenkins on 12/07/12 07:34 PM
"all euro countries need to undertake reforms, no matter how fiscally prudent they are."
Absolutely Amazing. Coming from a unelected unaccountable cabal.
Who can not get their own accounts signed off by any firm of accountants
in the world. For 15 years in a row.
Lets get this correct.
If the British Government conducted business with any corporation
that were unable to publish accounts.
They would be committing a criminal offence.
I am unable to see how they do so legally with the EU.
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Posted by Danny B on 12/07/12 10:27 AM
"The still-to-be finalized conclusions,"
What about "still to be financed"?
"all euro countries need to undertake reforms, no matter how fiscally prudent they are."
I think he means "painful" rather than prudent.
"progressive pooling of economic sovereignty ... as well as reinforced solidarity between member states."
Ahh yes, the sharing of socialist misery.
"enhanced coordination of economic policies"
I think he means that he will involve the army.
"The old world order died with the setting of that day's sun and a new world order is being born while I speak, with birth-pangs so terrible that it seems almost incredible that life could come out of such fearful suffering and such overwhelming sorrow." --Nicholas Murray Butler, in an address delivered before the Union League of Philadelphia, Nov. 27, 1915
Quote number 46
Click to view link
"Birth pangs so terrible".
If you read the quotations on the list, you see that new worlders are quite willing to destroy nations, economies family and the human spirit to bring what would only be further proof that socialism does not work.
