Euro-med                        

Congratulations, David Rockefeller and Zbigniew Brzezinski: You’ve just got yourselves a self-declared Trilateral Commissioner named Lene Espersen as Danish Minister for Foreign Affairs - alongside with your Commissioner, Climate Minister, Lykke Friis. So now I guess they will help you to promotethe aim of your Commission: to fuse the North American Union with the Euromediterranean and the ASEAN + 3. But alas for you! Neither ever yielded noteworthy results!

Summary: Corrupt european politicians are now threatening not only the economies of their own countries - but the very survival of the  euro. Diabolically tempting Wall Street banksters offered upfront cash especially to South European countries who had been living beyond their means - and went on doing so. The projects were so that the banks would take in security e.g. the proceeds of airport and lottery for years to come. Thus, the accounts of those countries were brought into line with the euro zone requirements - although the country lost income for years to come. But loans have to be paid back - and that may make it impossible to respect future euro requirements, which is now the problem. Greece and Italy  - and probably many more euro-countries have previously utilized this opportunity - paying fat fees to the banksters as well. Now Greece is in great trouble due to a gigantic budgetary deficit of 300 bn dollars. The euro colleagues are considering a loan of 20-25 bn euros - angering e.g. the Germans. But the Clinton/Fed/Wall Street constructed economic crisis is sending Europe into a deep recession/depression. So what happen to the euro if the other PIIGS countries default, too? Not only the euro - but the EU as a whole may break up, the populations being entirely unwilling to accept the very hard EU demands on these countries. on 23 Febr. 3 mio Greeks are on strike.In this situation the foolish CO2-trading takes grotesque manifestations. The UK, e.g., spends 60 mio pounds a year buying Co2 permission certificates from the Chinese and Indians, who have reduced their production of noxious gases - which they just produced to be able to trade them off!!After paying for this - and fat fees to the banksters - no reduction of CO2 emission takes place at all. The banksters like JP Morgan who invented the subprime mortgage Credit Default Swaps, bundled these risk insurances into CDOs, sliced them into tranches and sold them with immense profit - which ruined banks and investors alike. The banks were bailed out by the taxpayers and were richer than ever before. Now they know that too-big-to-default banks and countries will be bailed out at the cost of the tax payers, whom they are also robbing through taxes and tolls on completely harmless CO2″! So, now they are repeating the trick with the CO2 trading at Rothschild´s and Al Gore´s Climate exchanges (.eg. futures).What is going on is probably not only a matter of political corruption and Wall Street greed. It may very well be part of the heretofore unseen radical transformation of the world in the name of globalization recently announced by Gordon Brown. The outcome seems to be the EU grabbing total control of the financial policies of the EU.

“Wall Street did not create Europe´s debt problem. But bankers enabled Greece and others to borrow beyond their means, in deals that were perfectly legal. “If a government wants to cheat, it can cheat.” A 1996 derivative helped bring Italy’s budget into line by swapping currency with JPMorgan at a favorable exchange rate. In return, Italy committed to future payments that were not booked as liabilities.” The Devil is dangling his bait to morally completely depleted politicians!

But when the pile of debts topples over, the banksters change their attitude, start betting that the euro will break up – adapting their credit giving  to that in order to score their gains on such papers. It is so diabolical that it auromatically makes one think of Hell´s Angels in a different sense than the  normal one! They started by weakening the economies of the countries in general. Now they are going for the countries one by one so as to break the euro. The Hells Angels discussed here have no back patches or motor bikes. These Angels do not just kill a couple of rivals. Instead, they starve millions of people to death, speculating in food prices.

The Germans always feared a repetition of the hyperinflation of the 1920´es. Here is how Hell´s Angels, the disciples, agents and partners of the House of Rothschild are setting that scenario in cooperation with unprincipled euro zone politicians  through an all-out speculation against the euro.
The BBC thinks that the banksters are now practising Lenin´s advice: Stick your bayonet in. If you meet rottenness, thrust deeper – if you meet steel, withdraw immediately. The euro is just as rotten as the EU itself. I.e. the banksters are conspiring against rotten EU, i.e. the colossus on feet of clay which they built themselves. See here about Hegelian tactics.

Spiegel 22. Febr. 2010: German lenders hold about €32 billion in Greek securities, as well as another €10 billion in insurance holdings. The situation would spin completely out of control if, in addition to Greece, countries like Portugal, Italy, Ireland and Spain got into difficulties. German banks have acquired debt from these countries with a total volume of €522.4 billion. “Among hedge funds, in particular, there are those that are betting on a Greek insolvency and a collapse of the euro zone.” So, now the German Finance Ministry expects support for Greece to amount to between €20 billion and €25 billion from the members of the euro group. Germany would be responsible for about 20 percent, or €4 billion - €5 billion. Now, the official version is that the participating countries will not assume any of Greece’s debt, which would be forbidden under the treaty. Instead, they will add new debt to the existing debt. The ECB may have to buy insolvent countries´debts by printing a lot of money: hyperinflation.

Is the entire political class and the eurocrats today´s Gotham? They think they can afford the following stupidities  – even when international economy is being scuttled as a 2. phase of the Fed/Wal Street/Rothschild-made economic crisis, now taking on ruining states. The fact seems to be that “our” politicians are part of this conspiracy, in which George Soros sees big opportunities to scuttle the euro. For they have known about the over–indebtment of the PIIGS countries (Portugal, Italy, Ireland, Greece and Spain – without doing anything.

The Telegraph 20 Febr. 2010:The British Government has allocated £60 million of taxpayers’ money to be spent on buying carbon credits from the Third World  – so that our civil servants can continue to benefit from the CO2 emissions needed to keep their offices warm and lit.
The contracts with Barclays, JP Morgan and co – who will retain up to £9 million in commissions – will be used to buy Certified Emissions Reduction (CER) credits under the UN’s Clean Development Mechanism (CDM) set up under the 1997 Kyoto Protocol.

Indulgence trading today (left) and in Luther´s day (right)

Easily the largest beneficiaries of this curious system are firms in China and India which receive the credits for showing that they have at least nominally cut back on their own greenhouse gas emissions. They can then sell their CERs through intermediaries, to allow organisations in the West, such as the British Government, to continue pumping out greenhouse gases such as CO2. The net result of all this trading and jiggery-pokery is that, after billions of pounds and dollars have changed hands, with a hefty commissions for those bankers and other carbon traders, there is no reduction in greenhouse gas emissions whatever.
We enrich a small number of people in China and India, including Maurice Strong, who now lives in exile in Beijing, having been caught out in 2005 for illicitly receiving $1 million from Saddam Hussein in the “Oil for Food” scandal. He played a key part in setting up China’s carbon exchange, to buy and sell the CDM (UN Clean Development Mechanism) credits administered by the UNFCCC (UN Convention on Climate Change) of which Strong himself was the chief architect.

The Independent 8 Nov. 2009: It is the conjuring trick by which the EU, with an obligation under the Kyoto Treaty to reduce its emissions by 8 per cent by 2012, has managed to claim success, while actually increasing emissions by 13 per cent. We did it by paying the Chinese billions of dollars to destroy atmospheric pollutants, such as CFC-23, which they had manufactured purely in order to be destroyed: brilliant.

A further example of the perverse consequences of the EU’s method of “stopping climate change”: The Indian steel tycoon Lakshmi Mittal had warned Brussels that if his “emissions cap” under the scheme was set too low for his liking he would move some of his steel plants out of Europe. So his company, ArcelorMittal, was given the right to emit 90 million tonnes of CO2 in the EU each year between now and 2012. Yet this year ArcelorMittal’s European CO2 emissions are predicted to be less than half that figure of 90 million tonnes. If this level of output continues Mr Mittal will thus have £1bn worth of “carbon permits” to sell to other high energy users within the EU. Thus the biggest beneficiary of what is allegedly the world’s most enlightened climate change policy turns out to be the wealthiest industrialist in Europe.

Dec. 4 2009 (Bloomberg):  JPMorgan brokered a deal in 2007 for Land Rover to buy carbon credits in Uganda. Land Rover is using the credits to offset some of the CO2 emissions produced by its vehicles. Estimates of the potential size of the U.S. cap-and-trade market range from $300 billion to $2 trillion. Banks intend to become the intermediaries in this fledgling market.

After the tanker, Exxon Valdez, in 1994 spilled large amounts of oil off Alaska´s coast, Exxon was threatened with a 5 bn dollars fine. Blythe Masters of JP Morgan now asked the  London-based European Bank for Reconstruction and Development – a partner of Rothschild´s GEF – to take the Exxon risk in exchange for an annual fee from JP Morgan, which kept the loan to Exxon. Thus the risk was transferred to the tax payers of the 61 countries behind the EBRD. Ms Blythe later developed this concept into the credit default swaps, bundled them as CDOs, sliced them into tranches and sold this risk insurance on subprime mortgages to banks and investors – who then lost everything in the following collapse of this criminal bubble. This madness was instigated by President Clinton and the FED to entitle any unqualified person to have a loan to buy his own home. JP Morgan gained enormously on the crisis – i.a. through tax payer financed  bail-outs. Now Ms. Blythe is making the same trick with bundles of thin air: harmless CO2.
George Soros says money managers would find ways to manipulate cap-and-trade markets. “That’s why financial types like me like it — because there are financial opportunities.” Wall Street sees profits at every stage of the carbon- trading process.

The New York Times 13 Febr. 2010: The crisis in Greece poses the most significant challenge yet to Europe’s common currency, the euro, and the Continent’s goal of economic unity. The country is, in the argot of banking, too big to be allowed to fail. Greece owes the world $300 billion, and major banks are on the hook for much of that debt. A default would reverberate around the globe.

The bankers, led by Goldman’s President and COO, Gary D. Cohn. Wall Street tactics akin to the ones that fostered subprime mortgages in America have worsened the financial crisis shaking Greece and undermining the euro by enabling European governments to hide their mounting debts. Notice the masonic sign: the forefinger on his lips. It means: “Silence, slaves, or….”

As worries over Greece rattle world markets, records and interviews show that with Wall Street’s help, the nation engaged in a decade-long effort to skirt European debt limits. One deal created by Goldman Sachs helped obscure billions in debt from the budget overseers in Brussels.
In 2001, just after Greece was admitted to Europe’s monetary union, Goldman helped the government quietly borrow billions, people familiar with the transaction said. That deal, hidden from public view because it was treated as a currency trade rather than a loan, helped Athens to meet Europe’s deficit rules while continuing to spend beyond its means. Greece paid the bank about $300 million in fees. Moreover,  Greece traded away the rights to airport fees and lottery proceeds in years to come
In early November 2009 a team from Goldman Sachs arrived in the ancient city with a very modern proposition for a government struggling to pay its bills, according to two people who were briefed on the meeting. Athens did not pursue the latest Goldman proposal, but the deals over the last decade are raising questions about Wall Street’s role in the world’s latest financial drama.

As in the American subprime crisis and the implosion of the American International Group, financial derivatives played a role in the run-up of Greek debt. Instruments developed by Goldman Sachs, JP Morgan Chase and a wide range of other banks enabled politicians to mask additional borrowing in Greece, Italy and possibly elsewhere.
In dozens of deals across the Continent, banks provided cash upfront in return for government payments in the future, with those liabilities then left off the books.  Critics say that such deals, because they are not recorded as loans, mislead investors and regulators about the depth of a country’s liabilities.

Now according to El Pais on 14 Febr. 2010, the Spanish National Intelligence Service is investigating into allegations by Prime Minister Zapatero on International banker´s speculations against Spain and the euro.  The Economist sees this as a natural consequence of free market forces – and fears that the EU will block them!

Comment
As we see here, Wall Street is very inventive, making money, creating chaos, and grabbing illegitimate power and here through smart speculations at our costs in any field possible: Climate, currency, global taxing etc. Now they are even speculating against the euro. Bloomberg 22 Febr. 2010: Aggressive fiscal tightening by Greece, Spain and Portugal are likely to plunge euro economies back into recession. The currency would survive a default by Greece because the country accounts for only about 2.5 percent of the area’s gross domestic product. Other countries in Southern Europe are probably going to be forced to take fairly severe fiscal contracts. Voices are growing that the euro might break up - i.a. Nobel Prize winner, the brain behind the euro, the man who admits that the euro is nothing but a springboard for a world currency, Robert Mundell, sees Italy as the greatest danger.
Greek Parlamentarians are getting miffed with German demands of tough budgetary cuts, asking how Gemany dares make such demands without having paid damages for WWII to Greece. Maybe not only the euro – but the artificial EU construction is breaking up? In that case we should for once be thankful to Wall Street.

Who are the Wall Street Bankers? See some of them in the Washington Post. Through JP Morgan, now Morgan Chase, who is a Rothschild agent in the USA - Kuhn & Loeb is the other one – they are connected with Rothschild. In 1914 the Morgan House was dominant on Wall Street. Rothschild agent JP Morgan was a co-founder of the Fed at the request of Alfred Rothschild with David Rockefeller´s grandfather, Nelson Aldrich, and another Rothschild agent, Paul Warburg.  Here is how Rothschild controls the Fed. Above mentioned Goldman Sachs is connected through the Drexel family with JP Morgan. This plague has spread to the entire world:  Carroll Quigley 1975 - see year 1930: “Powers of financial capitalism had (a) far reaching (plan), nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert (The BIS)”.

Rumours have it that  the euro will soon collapse and that a return to the old currencies has already been planned.
I doubt that the euro will be able to survive major bail-outs of Greece, Italy, Spain, Portugal, Ireland. Rothschild-puppet, Soros, forced the Bank of England out of the EERM in 1992. This group has taken much more of the world´s money since then – not least during the current crisis, thanks i.a. to former US Secretary of the Treasury, Henry Paulson´ s enormous gifts of US taxpayer money to i.a. Goldman Sachs whose CEO Paulson used to be, Coincidence? By no means. Who of our politicians would dare to defy Rothschild´s bankers – or the central banks, which that family controls? Former US Treasury Secretary Lawrence H. Summers revealed the intent when he stated “countries that do the right things will be rewarded with rapid capital inflows. Those that do things wrong are punished.” !

The euro is an artificial construction lacking the most important quality: popular support. E.g. the majority of Germans are against the euro and 67% are against against bailing-out Greece. Greece is and later other Mediterranean countries will be imposed heavy curbs by the EU. Probably their populations will not put up with this euro–durability test – but paralyze their countries through strikes. On 23 Feb. 3 million of the 5 million workforce in Greece are on strike (DR) and violent riots (video). The euro has eliminated devaluation of national currencies and interest rate regimes - and only the rationalization diktat of public / social duties  remains as a regulator of a deficit.

Considering the declared intents to introduce a global currency, the euro – and the dollar, as well as national currencies will have to be abolished. Instead of seeing what happens in Greece as just Wall Street greed one might as well se it as part of the radical global transformation declared by Gordon Brown. The EU would bring about more deregulation by the same forces that closed their eyes to the subprime mortgage crisis scandal instead of stopping the madness. Now the same deregulating forces will be repeating this whole circus selling CO2–permissions, swapping, slicing and selling the risk once again to daredevil investors  – knowing that too-big-to-fall banks and countries will be bailed-out by taxpayers – who are already being taxed as consumers and tolled  on harmless CO2.
Cui bono? The EU is bidding for absolute economic governance in the EU – and will probably have it for a while  before the world currency takes over. And the banksters are happy.

This world is a madhouse – called the communist/fascist New World Order. See videos on right margin of this blog.