EU Treasury Overkill?
By Staff News & Analysis - September 06, 2010

Brussels plans 'treasury' for EU … Brussels is to push for the creation of a form of "treasury" for the European Union with powers to issue bonds and reinforce fiscal integration … "This will be a very effective tool to harmonise budget policies, but the way ahead may be very tough," he said. Germany is likely to balk at talk of an EU debt union, or "Transferunion" as it is described in Gothic terms by Germany's tabloid press. Jean-Claude Trichet (left), the head of the European Central Bank, called for a "quantum leap in terms of surveillance" to ensure that the financial crisis is never repeated. Mr Trichet said it would be extremely difficult to change the Lisbon treaty in the current climate but called on EU leaders to "exploit all possibilities" in the sub-clauses of existing legislation to advance policing tools. The EU institutions agreed last week on the creation of three super-regulators covering banking, markets, and insurance, each with powers to impose decisions by majority vote. This effectively deprives Britain of veto power over regulation of the City, although there is an "emergency break". The deal requires the assent of EU finance ministers next week. A spokesman for Chancellor George Osborne has already said the terms are "a very good outcome for the UK". – UK Telegraph

Dominant Social Theme: Thanks goodness the EU continues to acquire necessary powers.

Free-Market Analysis: In the other article in today's Daily Bell, we focus on how the elite back-story is in a sense falling apart with the foundering of the global warming promotion. We find much the same elements at work when it comes to the EU, which is being forced into existence as a super-state despite the resistance of those who will have to live under its increasingly pathological polity.

Of course there are plenty of justifications being floated for the EU's continued expansion, despite the evident incompetence and corruption of the Brussel's bureaucracy. These justifications are both practical and theoretical and can be found throughout the West – in Britain and the US as well as Europe. Some of it is blunt but some is quite elaborate.

We can see mechanism at work in a short excerpt from a review of Tony Blair's just published memoirs by Matthew d'Ancona in the UK Telegraph. Here he tries to explain why Blair did what he did: "Those who say Blair is a Conservative are plain wrong. His political roots lie in the ethical socialism of the philosopher John Macmurray and the traditions of Christian socialism espoused by F D Maurice, Charles Kingsley, R H Tawney and Archbishop William Temple."

We don't believe this for a minute. It is much too elegant. From our point of view Blair simply served the power elite as best he could, and was one of the best they had. The creation of New Labour may have been his idea or more likely may not have been. He had many of the qualities needed in today's political profession: He was tall, handsome, dynamic and he had a dramatic streak. Here is something from Wikipedia:

After attending The Chorister School in Durham in north-east England from 1961 to 1966,[16] Blair boarded at Fettes College, a prestigious independent school in Edinburgh in Scotland, during which time he met Charlie Falconer (a pupil at the rival Edinburgh Academy), whom he later appointed Lord Chancellor. He reportedly modelled himself on Mick Jagger. His teachers were unimpressed with him; his biographer, John Rentoul, reported that "All the teachers I spoke to when researching the book said he was a complete pain in the backside, and they were very glad to see the back of him."

Blair was arrested at Fettes, having being mistaken for a burglar as he climbed into his dormitory using a ladder after having been out late. After Fettes, Blair spent a year in London, where he attempted to find fame as a rock music promoter before reading jurisprudence at St John's College, Oxford. As a student, he played guitar and sang in a rock band called Ugly Rumours.

Blair had a dramatic streak that served him well as a politician. He expanded Britain's already dreadful government while making certain free-market gestures and went to war in both Iraq and Afghanistan with a show of great reluctance. The whole point of his time in office was to give Labour a palatable face so that Britain could retain a two-party system.

Just as in America, the difference between the two main parties is fairly tiny. New Prime Minister David Cameron will make some cosmetic changes but in essence Britain will continue on as she has, a vessel of a shadowy power elite that emphasizes military victory abroad and pursues ever-expanding despotism at home.

Always, we read in such papers as the Telegraph dire warnings about how Britain is giving her sovereignty away to Brussels. We read that most of Britain's laws are now manufactured in Brussels and that Britain's system of justice is giving way to Europe's more draconian Napoleonic code. Already it has been reported that British citizens are being held in European jails as they are presumed guilty until declared innocent – a reversal of the Anglo-American tradition.

The British financial system in the City is also said to be under attack from Brussels. Banks and other financial entities may soon move away from Britain as Britain fades as an independent nation-state. Britain is being subsumed by Europe after a nearly 2,000-year history as an independent entity. Within this context, one cannot help but see the Blair/Brown regime as a sideshow.

Like much Europe itself, Britain has NEVER had a conclusive referendum on whether the nation's citizens wish to be part of the sprawling, neo-fascist imperium that the EU is becoming. The reason of course is because an overwhelming majority of the British would reject such an idea. At this point, we would believe that most in Europe would do so as well.

The EU is an elite, fear-based promotion. A dominant social theme. "If we do not have the size and strength to confront China and the US, we will fall behind. We need a single currency and eventually a single state." But nations do not compete with each other based on size. Nations do not compete at all. People engage in trades and trading with each other as necessary, fulfilling the larger needs of the market and the Invisible Hand.

In the future, the EU's inevitable rise and gathering of evermore power will be explained as a natural function of the necessity of bigness in the "modern" world. It is no such thing. It is evidently and obviously an Anglo-American power grab. The aim is world government.

Europeans never asked for the kind of EU that is appearing. Most of them never voted for it anymore than the British did. The idea of forming an EU Treasury is no more legitimate than anything else that the EU has embarked on in the past few decades. But we have pointed out that the more the elite uses legislation to push its global agenda without the "buy in" of the larger populace, the more speculative the initiative becomes.

One might think the elite would be careful because in the age of the Internet people understand a good deal more about the manipulations taking place, but the elite seems curiously desperate at this point. We are left with the uneasy feeling that what is going on is in some sense arrogant. Or perhaps the mechanism is simply so hard to shut down that it grinds on regardless. Those involved in themes and the push for a "one world order" are so committed to it that they see no way out at this point.

All one has to do is read the Internet to see that virtually none of the machinations of the elite are secret anymore. Names, dates and all sorts of speculation – some informed and some not – are recreating a secret history of the world. There is plenty of speculation as to what is going to happen next as well.

After Thoughts

This is no way to run a generational, familial conspiracy. The EU may soon have a Treasury, but in our estimation, unless the elite reclaims the allegiance of those "citizens" involved, none of this has been built on a strong foundation. And little, eventually, may go to plan.

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