German minister raises 'orderly default' for Greece … Germany has stepped up its rhetoric against Greece, warning that the debt-laden country could default on its debts in a move that highlights the growing divisions at the heart of Europe. Germany's economy minster has said an 'orderly default' for Greece can no longer be ruled out and branded the country's deficit-reduction measures "insufficient". The warning is likely to spook financial markets further and comes despite Greece yesterday announcing a fresh €2bn (£1.7bn) of budget cuts and the introduction of a country-wide real estate tax. – UK Telegraph
Dominant Social Theme: It's no big deal. Just let Greece go. It was a mistake to shove 'em into the EU in the first place.
Free-Market Analysis: We wait nervously for the fate of Greece to be decided. The power elite that seeks to run the world has taken many setbacks in the past few years and the severance of Greece from the European Union would be the most devastating yet.
We often make the argument that the great banking families that seek to run the world have not known what to do with the Internet. Like the Gutenberg Press before it, the Internet is gradually providing information to people about the way the world works that they did not have before.
We have pointed out this is a mysterious process that includes a kind of "hive mind" – as human beings are animals that are adept at mimicry. Today's mimicry involves disenchantment with much of what passed for "civilization" in the 20th Century.
Whether it is global warming, the war on terror or the various scarcity themes that the elites promote in order to manipulate Western middle classes into giving up power and wealth to globalist institutions, pushback has taken place. Unlike the 20th Century, people around the world are not so easily manipulated.
The elites control the mainstream media but the alternative media has given people an entirely different perspective. This can be seen in Europe and America when it comes to some fundamental dominant social themes such central banking. More people are questioning the system – and the corporations that drive it – in ways that they didn't during much of the 20th Century.
Now comes the potential crumbling of the EU. The EU was set up by the Anglosphere power elite to drive the world toward global government. The plan is evidently to create regions – large blocks of nation states – that can then be used to further one world governance. The EU is a fundamental elite meme. The powers-that-be do NOT want to lose it and have fought hard to maintain it. It has been built up through lies and malfeasance for over 50 years.
It is, however, endlessly corrupt and misleading. It was never meant to be a free-trade entity but was actually intended to be a repetition of Charlemagne's empire. This has colored every part of the project. Conceived as a lie, the EU is a simulacrum of what it is supposed to be.
In fact, it was set up to ensure that only a handful of Eurocrats have the power to make REAL decisions (as they compose a kind of ruling council that has no governors). This was necessary to keep control of the process, which was designed for a far different outcome than what people had been led to believe. The EU hasn't even been audited in the past years because no accounting corporation will sign off on the numbers.
What the Eurocrats have wanted in the near term is a United States of Europe complete with an army, a flag, a national anthem and regulatory democracy that only they can control. The flood of regulations issuing out of the Brussels has already bankrupted or at least severely damaged many, including fishermen who cannot fish, electricians who can only use certain wires of certain colors and car manufacturers that have to revise their vehicles to conform to increasingly onerous regulations.
When it came time to prepare an EU Constitution, the Eurocrats tried to pass a template for a federal state consisting of 27 nation-states run by the unelected EU Commission. Then there was the European Council comprised of representatives of the governments of member states that could stop legislation but not initiate it. The third body was the ineffectual European Parliament but the real power resided with the Commission.
Naturally, this power grab was defeated in votes by several countries, at which point the Eurocrats repackaged the worst elements as a treaty and rammed it through various Parliaments without popular votes. When the Irish voted against it, the country's leaders prevailed on the electorate to vote again, in order to ensure the "right" outcome.
At every stage, the EU and its Eurocrats have shown the world their contempt for a democratic (republican) process and their determination to build a "union" that can serve as a stepping stone to world government.
This is not, of course, a mainstream media argument. The mainstream media has been pro-EU and has pressed the myth that the EU is merely an elaboration of a common market and that the euro itself is an efficient fiat currency that helps the business climate.
But the actions of the top Eurocrats give the lie to this interpretation. The EU is a profoundly authoritarian entity and its most powerful bureaucrats evidently and obviously have been put in power by the powerful central banking families that continually promote world government.
For this reason, any setback to the EU will be a further setback to the plan for world government. The setback seems to be brewing even now. Greece's bankrupt position is not sustainable anymore. It cannot repay the money that it has borrowed without a devaluation. But it cannot have a devaluation without removing itself from the euro, even temporarily.
Germany's Der Spiegel magazine has reported that minister Wolfgang Schaeuble (above left) was preparing German institutions for a Greek bankruptcy – an "orderly default." Of course, the Eurocrats themselves are still trying to salvage the situation. This is because if Greece defaults it may well cause a chain reaction among Europe's other Southern PIGS – Spain, Italy, Portugal, etc,. – that are in many ways no better off than Greece. Here's some more from the article, excerpted above:
EU economy commissioner Olli Rehn said [his] team – which represents the troika of the Commission, the European Central Bank and the IMF – would "provide technical support to the Greek authorities". The previous team was pulled out of Athens earlier this month because of a lack of progress by the Greek government in reducing its deficit.
Mr Rehn on Sunday praised Greece's new cuts, saying they would "go a long way to meeting the fiscal targets" for 2010 and 2011. "Greece needs to meet the agreed fiscal targets and implement the agreed structural reforms to fulfil the conditionality and ensure funding from its partners," he said.
G7 finance ministers late on Friday vowed to "take all necessary actions to ensure the resilience of banking systems and financial markets". However, underlining the difficulties facing German authorities, a survey showed 53pc of Germans oppose further aid for Greece and would not save the country from default should it fail to fulfil loan criteria.
A Greek default may be the beginning of the end for the euro and the European Union. It will set a precedent that may then be mimicked by the rest of the Southern PIGS, none of which are in much better shape than Greece. The entire European banking system – both North and South – may be seen as underwater. There is a limit to how many patches the system can undergo.
We would argue that the Internet – and what we call the Internet Reformation – has been at least partially responsible for the problems Eurocrats are facing. They believed that a financial crisis would inevitably provide an impetus for a political EU that would take the place of the economic one. But it is not working out that way.
People don't like to be manipulated, and many may have discovered for themselves what the EU is actually all about, thanks at least in part to the Internet. The 21st Century is not like the 20th. Time will tell if the EU – and the euro – actually blow apart. But we think this ongoing crisis has been generated at least in part by what we call the Internet Reformation.
Just as in Martin Luther's time, people are discovering their world is not what it seemed to be. Large political and religious institutions began to shatter then and it could be that the same sort of evolution takes place today. People likely won't attribute it to the Internet, but we think a case can be made that history is repeating itself. Radical communication devices can change the world because they allow people access to information they didn't have before. We may be living through such an era. Too bad for elite machinations.