Eurozone debt crisis could prove 'very costly' for the world, warns IMF … The International Monetary Fund (IMF) has urged eurozone leaders to take immediate action over the region's debt crisis, warning it could prove "very costly" for the world. If the crisis were to spread to the core euro area, this could have 'major global consequences', the IMF said. Europe's policymakers must press on with deeper economic integration to "stay the course", the global lender said ahead of Thursday's crunch summit of eurozone leaders. – UK Telegraph
Dominant Social Theme: It is most necessary to merge.
Free-Market Analysis: We can see in this article (excerpted above) the naked obviousness of a power elite dominant social theme. The crisis the EU faces is now said to be an international emergency and thus must be solved to protect the world. Greece's default is now somehow a global one. This is because in the 21st century everybody is connected to everyone else. What they don't tell you is that it's been MADE this way.
So many of the elite's dominant social themes are under attack in the 21st century. We've predicted as much by making the seemingly absurd claim (to some) that the Internet is a modern Gutenberg Press. But as history unfolds, we think we can make a case for its validity. The modern Internet Reformation is ongoing and, like the last communications inspired one, is upending the authority and provenance of the powers-that-be.
Global warming, the phony war on terror, the inevitability of fiat money – all these elite promotions and many more are receiving considerable pushback from increasingly aware and activist populations. This is the REAL global revolution, an outgrowth of what we have come to call the "hive mind."
People are instinctually gregarious and communal, and this is why fashion and culture works the way it does. The human brain seeks out what is "new" – probably as a survival instinct. Memes spread quickly, abetted by modern technology. This does not mean the world has grown closer – as the elites maintain – only that communication technology has grown more efficient.
The recipe is very simple. The world economic crisis has markedly focused people's minds, certainly in the West. When they begin to use the resources around them to figure out a personal and communal response, they stumble onto a vastly expanded knowledge base provided by the Internet.
The impact of finding out the money in your wallet is a hoax cannot be underestimated. Once one has made the connection between policies at the top and one's own subjugation, increasing research is inevitable. The 'Net provides it.
Were times good, people might not be compelled to question what's going on. But the combination of bad times and the truth-telling of the Internet is a powerful concoction. People don't go onto the 'Net intending to be "radicalized," but an expanded frame-of-reference inevitably provides a graduation of enlightenment.
And just as with the first Renaissance and Protestant Reformation, ideas have consequences. The idea inherent in the modern Internet conversation is that government does NOT have the answers and that people can take their own human action to control their surroundings. That's why Austrian, free-market economics is so compelling and – despite a mainstream media blackout – has grown so fast outside the halls of academia (where it is still not ordinarily mentioned).
The entire thrust of the 21st century, when the elites controlled all manner of communication, was intended to send a message that people were infantilized onlookers battered by the tides of history. The average person, in fact, was made to feel as helpless as a clam, shoved around by the tides of modern events.
Not so fast. As people being to discover that history is DIRECTED, they also unearth causation. There are composers at the top, making the music. This Anglosphere elite seeks one-world government and will stop at nothing to get it. Its tools are fear-based promotions that frighten Western middle classes into giving up power and wealth to conveniently created globalist institutions like the UN, WHO, NATO, IMF and the World Bank.
But Internet Reformation is undermining all this. It is dawning on more and more people that their perceptions are being manipulated. The world in the 21st century is no more interconnected than at any other time in recent history. A hundred years ago, in fact, the gold standard homogenized the world a good deal more than fiat currencies do today.
Look away, we are instructed. Don't mine history for examples. Real history doesn't exist anyway, as presented by elite curriculums – it's all accidental. Where in school – any Western school – is the history of the gold standard taught? Where is ANY real history taught, history being the investigation in the past 100 years of directed history and the way the elites have manipulated the world in order to set it on track toward globalist government.
The power elite uses war the way a sculptor uses a chisel. They use monetary policy like a paintbrush, and their canvas is the despoliation and bankruptcy of ALL. It is a Pharisaical concept, as we pointed out the other day, driven by incredibly wealth banking families and their corporate, military and religious enablers. You can see this article here: Anti-Semitism, Douglas Reed and Zion.
As a SYSTEM it is likely perpetual, or at least long lived, dating back to Babylon. But its influence waxes and wanes. Modern communication technology confronts it. Which is why it is so important that this latest elite promotion – a unified Europe – not be allowed to fail. Regional currencies are the stepping-stones by which we ascend to a one-world order.
There is no rational reason, of course, why a forced agglomeration of 300 million people all speaking different languages is necessary for world peace. Forced accommodations generally don't last. But this is what we're told. If the EU fails, we are told, Germany will start trying to take over the world again. Or Europe, generally, will sink into war and chaos.
You see, only the Eurocrats – that brave, thin, gray line of eminences – stand between us and chaos. Herman Van Rompuy, José Manuel Barroso, Nicolas Sarkozy, Angela Merkel – these individuals regularly meet to eat fine food and drink fine wines out of a spirit of shared sacrifice.
If the world's most irreplaceable people did not get together every few weeks at five star hotels, attended by a coterie of thousands of bureaucratic courtiers, the world would be a far more dangerous place. Seen in this context, eating a canapé is a revolutionary endeavor. A greater union is an inevitable good.
And so every few days as crises erupt, we are privileged to the exhortations of globalist enablers. "To put the crisis behind, we need more Europe, not less. And we need it now," Antonio Borges, director of the IMF's European department, tells us, according to the UK Telegraph. "On Tuesday night, diplomats in Brussels were warning of "bedlam" unless a deal is "more or less" sealed on Thursday.
The crisis around Greek debt now poses "serious risks" that it will infect the region's core powerhouse economies, we are informed. The fears about weaker member states' finances have created a chain reaction making it impossible for Greece, Ireland and Portugal to borrow on international marts. Here's some more from the article:
If the crisis were to spread to the core euro area, this could have "major global consequences", the IMF said. "Decisive further policy actions to contain the crisis are critical not only for the euro area itself, but also from a global perspective."
However, politicians and the public were said to be "reluctant to renew their vows" to the European project. The warning appeared to be borne out as Angela Merkel, the German Chancellor, on Tuesday said markets should not expect Thursday's summit to offer a silver bullet solution to the eurozone's debt crisis. "There are other necessary steps to take and not one spectacular result that will solve all problems," she said.
With all painfully aware that Greece is in need of a second rescue package, Germany and the European Central Bank (ECB) are opposed over how the private sector – investors such as banks and insurers – should share the pain. Berlin wants the private sector bondholders to take a hit in some form, but no one is clear how to achieve this without the credit rating agencies classing it as a Greek debt default, with potentially dangerous consequences for the financial system.
What is noteworthy about all this is that the European Central Bank continues to resist. The IMF – a globalist institution – makes terrible predictions. But the ECB – another institution controlled by the globalists – resists. We cannot help thinking this resembles the tried and true Hegelian dialectic beloved of the power elite.
The idea is that one must frame a conversation, any conversation, between two poles. Only then can one begin to control and manipulate the conversation. One must control both poles to do this effectively. We have proposed in the past that the globalists are entirely flexible and totally immoral when it comes to achieving their objectives. If the EU proves an impossible project, perhaps they will throw it over and use the resultant chaos to generate calls for a new world order.
Is this why the ECB has been so vocal about potential solutions, warning that most if not all of them are merely disguised defaults? If the Anglosphere elites really wanted a solution wouldn't the ECB be muzzled? The great Western powers set up the ECB after all; it is moderated via the Bank for International Settlements in Switzerland. It is not an independent actor, far from it.
And yet over and over ECB central bankers warn that if a disguised default is legislated, the entity will no longer accept Greek government bonds as collateral for its lending – which would surely ruin what's left of the Greek "banking" system. Very strange stuff.
Now there is another plan that's been proposed. A paper obtained by Reuters on Tuesday suggested "a bank levy – taxing the eurozone's banks to help fund Greece – as a means of involving the private sector without it being classed as a default."
The article tells us that the plan seemed to be finding backers. But we wonder how that can be so, given the ECB's position. Any kind of organized "voluntary" measure of this sort would surely be seen as facilitating a default.
The canapés, like ammunition, will be made available once again on Thursday; this is when as the EU's shell-shocked leaders return to Brussels to strategize a penultimate deal. We are told in fact that if they do not do so, the markets will surely administer a coup de grace on the EU's exposed southern flank. The situation could not be more grim, dear reader. The PIGS will be slaughtered – not individually this time – but all at once.
No doubt it will be glum in the bunker. Great guns of doom concatenate above, shaking delicate chandeliers like autumnal winds. Caviar is handed out like cyanide. Will the EU subside or will the last hopes of mankind prevail as the top minds of a generation create a last-minute innovative solution?
It is dangerous in the bunker. Champagne corks pop like random bullets. Sumptuous courses of rare viands are ingested resignedly, and soups and salads, too, and deserts too, and maybe coffee or tea, too. It is almost too much to bear. Cognac is available, circa 1920. The stress level is as high as the whine of violins playing over in the corner. Fruit and cheese are to be served in the library. Aides, like mourners, whisper in hushed voices. The future of the world is at stake. The prosperity of the globe rests on Merkel's frail shoulders. She speaks with Sarkozy and nearly spits in frustration. The President turns angrily on a tiny heel. O, how did it come to this?
"I weep for you," the Walrus said:
"I deeply sympathize."
With sobs and tears he sorted out
Those of the largest size,
Holding his pocket-handkerchief
Before his streaming eyes.
"O Oysters," said the Carpenter,
"You've had a pleasant run!
Shall we be trotting home again?'
But answer came there none–
And this was scarcely odd, because
They'd eaten every one.
(Excerpted from the Walrus and the Carpenter by Lewis Carroll.)