News & Analysis
Cracking of the Euro-Elite ... The Triumph of Hope?
Euro founder admits some nations may be forced to leave ... One of the founding fathers of the euro admits that some states may be forced to abandon the single currency, but insists Germany would be better off staying in. Otmar Issing, a former European Central Bank chief economist, warned that the eurozone could be heading towards fracture in a book called How we save the euro and strengthen Europe published this week. "Everything speaks in favour of saving the euro area. How many countries will be able to be part of it in the long term remains to be seen," said Mr Issing in the book, which is written as a conversation between an economist and a journalist. – UK Telegraph
Dominant Social Theme: Like Celine Dion's heart, the EU and euro will go on ...
Free-Market Analysis: Are the Eurocrats finally starting to crack? Otmar Issing, a notable pro-EU figure, has just released a book that promotes the possibility of a euro bust-up.
This is a remarkable turn of events, in our view. It signals we may be correct about what we call the Internet Reformation and the impact it is having on power elite plans to build world government.
More on that below ... First, let's summarize the article excerpted above.
Any way you analyze it, it sounds like the beginning of a climb down.
Issing is one of the founding fathers of the euro. His position now, apparently, is that while countries should remain in the EU, they might do well to leave the euro currency to get debts under control (by inflating national currencies). Germany, he believes, ought to stick with the euro.
The article mentions others that are slowly moving to a similar position. "Earlier this week Jean-Claude Juncker, the leader of the eurozone finance ministers' group, also said the world could cope with Greece leaving the eurozone. Juncker called such a departure "manageable" but not "desirable." He said such a move would hold "significant risks" for the Greek people.
It would seem, however, that the German people remain ahead of their Eurocrat bosses. As we reported last month, a survey conducted on behalf of the weekly magazine Bild am Sonntag presented numerical evidence that Germans had changed their thinking on the union.
Somewhat surprisingly, 51 percent believed the country would be better off outside the eurozone, while only 29 percent saw the benefits of staying.
Note the survey focused on leaving the "eurozone" not the euro. One trick Eurocrats play regularly is to discuss whether or not individual states should shed the euro when the larger question surely begins to be whether states should leave the EU entirely.
And really, why should any state stay at this point? What we call the Internet Reformation has almost entirely exposed the evolution of the EU for what it really is ... a progression toward a kind of Soviet Union of controlled states run by an unelected bureaucracy.
This bureaucracy evidently and obviously reports not to the citizens of the EU but to an equally unelected power elite that wants to run the world and is creating "unions" of nation-states to accomplish this goal. It is this ruthless elite that has set in motion the great, grinding gears of austerity as a reaction to an economic crisis it also apparently caused.
If one grants that this group of dynastic families and their associates and enablers are in charge of central banking around the world, then it is easy to see how the current push toward one-world government operates.
Using the awesome Money Power of central banking, the entire social, political and economic structure of the West has seemingly been bought up and put under the control of globalist forces. The only part of the power structure that the elites do not have a hold over resides on the Internet.
It is from this as of yet unrestrained alternative media that scathing criticisms of an increasingly internationalist system have emerged. And as these criticisms have gathered strength and believability, the powers-that-be have reacted with increased brutality.
The EU itself is the scene of much of it. The elitists, having forced Europeans into a dysfunctional union, are now implementing various authoritarian measures to keep Europe's suffering masses under control. Wiretapping and other comprehensive forms of totalitarianism are being introduced regularly via legislation.
While it is not mentioned in the mainstream press, it is quite likely that the EU's regulatory onslaught and the vast police state it is in the process of erecting is playing a role in the increasing unease that many Europeans feel.
In other words, European resistance at this point is likely caused by issues that travel far beyond the usual pocketbook ones. This is surely not a reality that the old men of the power elite want to confront, nor do their bought-and-paid-for Eurocrats.
The result, therefore, is that the top Eurocrats, the ones that matter, continue to travel well behind the curve of what is actually happening, in our humble view. Even the Eurocrats at the very top are only now reluctantly coming around to the view that the euro will have to be split asunder. They should have realized this long ago.
Of course, the reason they didn't is because in their arrogance, they believed that a euro-currency crisis would provide a pretext for a closer and more binding union. They've been trying to accomplish this in fits and starts, but opinions such as Issing's and Juncker's – that some fractionalization of the euro shall be tolerated – bears witness to their expanding disarray.
As we pointed out months ago, Britain's gradual disengagement from the EU is not in any aspect a victory for Money Power. Nor is the disengagement of countries from the euro, much less the EU.
Of course, there are plans within plans. If chaos comes to the EU and the union frankly fractures, then that fracturing shall be used as a pretext for more global government. Out of chaos ... order.
But even as we examine these larger scenarios, we should bear in mind they are probably not a first choice. It is fairly inconceivable that the powers-that-be built this horrible Tower of Babble for the purpose of tearing it down.
No, each admission of potential fracturing should be seen for what it is: an admission of elite failure. This is surely good news for those who believe that freedom ought to trump tyranny and that the further construction of Leviathan is not an empowering device but a facility of repression and ultimately even of genocide.
Conclusion: One ought to notice these things. They provide hope and diminish fear.