Brussels accord on the verge of collapse … Some of the world's most powerful investment banks were downgraded by ratings agency Fitch as Germany's cherished European fiscal compact appeared to be unravelling. Mario Draghi delivers a speech in Berlin on Thursday. Draghi said there's "no external savior" for heavily indebted governments in the eurozone debt crisis … Meanwhile, Germany's attempt to save the Eurozone was hanging in the balance as Hungary and the Czech Republic claimed it would be damaging and protesters in Warsaw demanded Poland stands firm against Angela Merkel. – UK Telegraph
Dominant Social Theme: It's all happening so fast. This is how a regional economy dies. Let's put a global one in its place.
Free-Market Analysis: If one examines the rush of events surrounding the unraveling of the European Union, it becomes more and more difficult to believe it is merely a series of coincidences. We've covered this in other articles, but what's going on continues to affirm our belief that this is a kind of planned crisis.
The elites' "directed history" in our view has been taking place for at least 100-150 years. Central banking gave it a boost because it is easy to stage historical events when one has virtually unlimited money. The goal, of course, is global governance. And when it comes to the EU, its consolidation helps the cause, but so may its breakup.
Of course, we have written that consolidation is the preferable course of events. And we have no reason to change our mind. We believe that the British/EU split was not something the elites sought. It came about because of the Internet era and the growing anger in Britain over the expansion of EU rules, regulations and taxes. You can see an article on this here: 500 Year Old Global Roll-Up Founders?
In today's other article, we pointed out that chaos also suits the aims of the power elite that wants to run the world. If they cannot have a full-blown European empire, they will settle for part of one and a good deal of chaos. The chaos seems to be kicking in – see the downgrades in the Telegraph article excerpt above.
But it is not just ratings that are being cut. The solutions being floated by the EU Commissars predictably are running into stiff resistance throughout Europe. The resistance is patchy yet, but it's building. More from the article:
Amid fresh warnings that Europe is triggering a 1930s-style global depression, the German chancellor faced open rebellion against the key plank of her Brussels accord. The leaders of Hungary and the Czech Republic told a joint conference in Budapest they were ready to reject the planned treaty changes
and implied move towards a centralised tax system. Czech prime minister Petr Necas said he was "convinced that tax harmonisation would not mean anything good for us".
Hungarian prime minister Viktor Orban said that central Europe had the potential to become the most competitive region in Europe. "The only kind of co-operation we can have with the eurozone is one which does not damage Hungary's competitiveness," he said.
Poles marched under banners that read: "We want sovereignty, not the euro." They were protesting against the Brussels deal that could see EU countries, including those outside the eurozone, face penalties for breaking tough centralised spending laws. Britain used its veto in Brussels, sparking an intense backlash. Ireland and Sweden are also nervous about the fiscal pact …
And more … it is not just the countries and rating agencies that are providing pushback to the grand European experiment. The European Central Bank itself is indicating that it will not do the one thing that Brussells Eurocrats are clamoring for – print money to buy up Euro-debt.
Mario Draghi, himself, the head of the European Central Bank (ECB), has said that while the ECB has begun a limited buying program of sorts, the program is "neither eternal nor infinite." According to the EU article, there is little that Draghi believes he can do to restore growth. "Sustainable growth can be achieved only by undertaking deep structural reforms that have been procrastinated [upon] for too long."
In America, the Obama Administration has indicated that the US is not in the position to make Europe whole, either. One by one, easy-money solutions are being scaled back. What's left? The IMF, of course. (See other article, this issue.)
One watches these manipulations mouth agape. The globe's largest institutions are evidently and obviously controlled from the top. Until this last century – until what we call the Internet Reformation became evident – very few had any idea what these institutions actually did, let alone how they were controlled.
But all that has changed and the result is forcing changes as well to the way the elites do business. Instead of using dominant social themes, they are increasingly resorting to legislative force and outright military and police intimidation. It shows us that the "bad old days" never really went away.
Those at the top have without a doubt created the world's current problems. Central banking is nothing more than monetary price-fixing. But it has been promoted throughout the world by the "best and brightest" as something else.
Price fixing is always ruinous. And when the target of price-fixing is money-stuff itself, the eventual result is a series of booms and busts eventually leading to a significant depression. That's what has happened now. To believe it is merely chance that has brought us here would be naïve, considering that the current global economy is highly controlled and that the creation of money itself is not a free-market function.
The plan to continue centralizing the world's economy seems obvious (to us anyway). What is not so obvious is whether such a plan will come to fruition in an era where the strategies of the elites have been exposed in great detail and disseminated around the world digitally via the 'Net.
From our point of view, the setbacks are piling up. Global warming, Peak Oil, the war on terror and many other elite dominant social themes are having increasing difficulty finding traction. And now the Eurozone itself is proving increasingly difficult to hold together.
Of course one can see the gears moving. The union is pulling apart; the major actors are playing their new roles, perhaps ones that will abet the breakup. Meanwhile, the IMF apparently is to emerge as the savior, or that's how it seems now. We are being positioned to recognize such an inevitability; the major question is whether the positioning will work as well in this century as last.