World Economy on the Verge of a Gigantic Collapse

Posted By Anders On April 16, 2008 @ 18:10 In English, Euromed | 7 Comments

[1] Bank crisis
Ambrose Evans-Pritchard
, The Telegraph. Last Updated: 1:14am BST 13/04/2008: The IMF warned that Europe's banks are in as much trouble as their US counterparts, facing losses of at least $120bn (£60bn) from asset-backed securities, structured investment vehicles, and other arcana from the credit bubble. [2]
Richard C. Cook
, Global Research, 27.
March 2008: The housing bubble has led to a huge inflation of real estate prices in the U.S. Millions of homes are falling into the hands of the bankers through foreclosure. The cost of land and rentals has further decimated family agriculture as well as small business. Rising property taxes based on inflated land assessments have forced millions of lower-and middle-income people and elderly out of their homes.
[3] Forex & Finance April 7th, 2008
. The international monetary fund (IMF) evaluates losses in $945 billion of a world banking system from crisis in the American hypothecary market and the instability which has followed it in the international financial market . Comment: This money destruction has introduced capital shortage. I want to [4] further report on these ominous  reports, knowing  the actors are illuminists whose strategy is to spread  fear  - but their New World Order - announced 5 times 1990-91 by [5] Pres. Bush sr. - has also masterminded chaos and the major disasters  in history for now 232 years.

And who will have to pay for the speculation party, which has been driving world economy ?
1. the tax payer. The individual British tax payer already has to pay [6] 1800 pounds extra a year for the Northern Rock - and American tax payers have paid for the [7] purchase by Rothschild Agent, J.P. Morgan of the Bear Stearns Bank
2. The bank employees are being sacked – since nearly all banks seem to be involved. And the taxpayer will have to pay for their transfer income
3. Bank customers: higher bank charges – and the tax payer, the state being the biggest debtor.

[8] Bear Stearns was forced to agree a fire sale to JP Morgan Chase for [9] 2 Dollars a share, which one week earlier was worth 30 dollars - and one year earlier 170 dollars! last month after rumours that the firm was on the brink of bankruptcy prompted customers and lenders to pull their money out of the group. “I would say it looked like more than just fear — it looked like people wanted to induce a panic,” Alan Schwartz, the Bear Stearns chief executive, told a congressional hearing in Washington yesterday. “The impetus [for the run] was a lack of confidence, not a lack of liquidity,” he said at a congressional hearing. Moreover, the FED (i.e. the US tax payers) given 30 billion dollars away for the purpose!!

 Inflation [10] New Europe 7 April 2008 - Issue : 776  : With the world markets in turmoil over recent past taking their toll, the European Monetary and Economic Commissioner Joaquin Almunia last week lamented that financial markets´woes are continuing for longer than previously expected, adding to fears that the longer they go on the greater the risk that they will affect the real economy. …” I am very concerned about inflation,” blaming the “incredible” inflationary trends on external forces such as spiralling upwards food and oil prices…. The Eurozone inflation rate rose 3.5 percent in March, the highest rate since the currency union was founded a decade ago, twice the rate of a year ago, and far above the European Central Bank’s two percent target.

From Norhern Rock Denmark´s Header. "Pig fat interest rate".
The Danish division was closed after Danish bankers complained to the EU of unfair competition, since Northern Rock is now a British state driven - and so potentially a safer bank than Danish banks.

Adding his voice to the concerns, Luxembourg Prime Minister Jean-Claude Juncker told journalists after a meeting of the Eurogroup at Brdo pri Kranju on April 4: “We remain very concerned about the level of inflation… it is a concern for all governments…. European Central Bank (ECB) President Jean-Claude Trichet  said price stability was “essential for the poorest and the most vulnerable of our citizens.” “It is extremely important that we understand that moderation today is necessary if we want to deliver price stability in the medium term,”

[1] Real estate overvaluation 
House prices are more overvalued in Ireland (32pc), Holland (29pc), France (22pc), Belgium (18pc), Spain (17pc), and Italy (12.4pc), than in the United States (12pc), and may be subject to a nasty correction. Irish house prices fell 7.3pc last year. Hans Redeker, currency chief at BNP Paribas, said the ECB had its head in the sand. "They are not looking at the tidal wave that is about to roll straight over them. Balance-sheet stress in Europe is just as bad as it is in the US. The reporting periods are different, so the bad news has not yet come out," he said.

The market for securities has collapsed. Companies are instead turning to their existing credit lines. The question is what will happen when these run out," added Mr Redeker.

In Spain there has been a dramatic deterioration in business confidence," he said. Spanish bankruptcies rocketed 74pc in the first quarter. Car sales fell 28pc in March. Half of Spain's 80,000 estate agencies have already shut down, laying off 120,000 staff.
In March of 2008 European car sales decreased by[11] 9.5%.

"We've seen the immediate effect of the credit crisis on financials and there is a second round effect where it hits activities (and shares) and profit growth in broader corporates," said [12] Simon Doyle, head of strategy at Schroder Investment Management in Sydney (Apr. 14).

And according to member of the US Council on Foreign Relations and [13] European Council on Foreign Relations, illuminist [14] George Soros, the bottom has not been reached.

[1] Soaring euro [1]
The head of Italy's business federation, Emma Marcegaglia, said the soaring euro was having "a very negative effect on our economy. The ECB should be cutting rates," she said. By contrast, Germany is in rude health. By squeezing wages it has gained 40pc in labour cost competitiveness against Italy, and 30pc against Spain, since 1995. It now enjoys a current account surplus of $257bn (£130bn, 6.2pc of GDP). Four fifths comes at the expense of eurozone partners in what amounts to a "beggar-thy-neighbour" policy. Deficits have reached 12.5pc of GDP in Greece, and 9.2pc in Spain.

The euro was launched under an implicit contract with the German people that EMU would not lead to inflation, or to an easy-money bail-out for improvident Club Med debtors

[1] The  Telegraph Apr. 13, 2008 The transatlantic gap in interest yields has drawn "hot money" funds into Euroland, pushing the euro to a new high of $1.59 against the dollar - up 27pc in two years.
The ECB is now in open conflict with the International Monetary Fund, which has slashed its euro zone growth forecast to 1.4pc this year and 1.2pc in 2009. The fund said Italy will be trapped near recession levels for the next two years, while Spain's property boom is deflating fast
[11]
Exporting jobs
The implementation of the North American Free Trade Agreement by the Bill Clinton and George W. Bush administrations has led to the elimination of millions of U.S. manufacturing jobs as well as the destruction of U.S. family farming in favor of global agribusiness.
Similar free trade agreements, including those under the auspices of the World Trade Organization, have led to export of millions of additional manufacturing jobs to China and elsewhere.

[2] What is behind it[2]
by Richard C. Cook , a former U.S. federal government analyst, whose career included service with the U.S. Civil Service Commission, the Food and Drug Administration, the Carter White House, NASA, and the U.S. Treasury Department.

High treason on the seat of honour
David Rockefeller 2006 :"
I and my family  are being accused of being  internationalists'  conspiring with others around the world to build a more integrated global political and economic structure—one world, if you will. I  stand guilty of that - and I am proud of it." ([15] David Rockefeller´s  Memoirs p. 405.

The fact that bankers now control national monetary systems in their entirety, under laws where money is introduced only through lending at interest, has resulted in a massive debt pyramid that is teetering on collapse. This "monetarist" system was pioneered by Rockefeller-family funded economists at the University of Chicago. The rub is that when the pyramid comes down and everyone goes bankrupt the banks which have been creating money "out of thin air" will then be able to seize valuable assets for pennies on the dollar, as J.P. Morgan Chase is preparing to do with the businesses owned by Carlyle Capital. Meaningful regulation of the financial industry has been abandoned by government, and any politician that stands in the way, such as [16] Eliot Spitzer, is destroyed. (New York State Governor, exposed to public contempt by Rockefeller´s New York Times (see below) for visiting a prostitute).

Gasoline prices are soaring even as companies like Exxon-Mobil (a daughter of Rockefeller´s Standard Oil) are recording record profits. Other commodity prices are going up steadily, including food prices

The destruction of family farming in the U.S. by [17] NAFTA (along with family farming in Mexico and Canada) has been mirrored by policies toward other nations on the part of the International Monetary Fund and World Bank.
Comment: European farmers are to be hit by the establishment of the [18] Euro-mediterranean Common Market in 2010.

The expansion of the U.S. military empire abroad is mirrored by the creation of a totalitarian system of surveillance at home, whereby the activities of private citizens are spied upon and tracked by technology and systems which have been put into place under the heading of the "War on Terror." Whereby you cannot tell, if in fact you are considered to be the real terrorist!!

Finally, the deteriorating conditions of everyday life have given rise to an extraordinary level of stress-related disease, as well as epidemic alcohol and drug addiction. In particular, could there be a better way to accomplish all this than what appears to be a concentrated plan to remove from people everywhere in the world the ability to raise their own food? After all, genocide by starvation may be slow, but it is very effective. Especially when it can be blamed on "market forces."

Comment: J.P. Morgan has just acquired the Bear Stearns Bank for pennies on the dollar. In 1929 the illuminists J.P. Morgan and John D. Rockefeller started the [19] Wall Street Crash - by throwing their shares into the market at a good price. Panic arose, share  quotations plummeted, whereupon the illuminists bought them at  1/10 their real value.  When foreclosures ensued the illuminists bought real estate at a small fraction of their real values. This caused the great depression in the 1930es.
In 1815 [20] Nathan Rothschild  had done exactly the same trick in London!

And Richard Cook quotes [21] David Rockefeller[21] : "We are grateful to the Washington Post, the New York Times, Time Magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost forty years." He went on to explain: "It would have been impossible for us to develop our plan for the world if we had been subjected to the lights of publicity during those years. But, the world is more sophisticated and prepared to march towards a world government. The supernational sovereignty of an intellectual elite and world bankers is surely preferable to the national autodetermination practiced in past centuries."

And he asks: Can it be that the "us" which is doing all these things, including the great David Rockefeller himself, are just criminals who have somehow taken over the seats of power? If so, they are criminals who …have taken a chokehold over the educational system and the monopolistic mainstream media.
Comment: [22] Starvation panic, international financial catastrophe, us being changed into debtors, controllable clients  - which is to say to confiscate our property,  nay  some even maintain that in future we are not going to have credit but debit cards - oil [23] price speculation, , the clash of cultures through multiculturalism, all being initiated and nourished by ruthless illuminist bankers.
As appears from the[24] mendacious scaremongering climate campaign  and  according to a speech on Apr. 15, 2008,  by EU-Climate Commissioner [25] Stavros Dimas, the EU is willing to cut its CO2 emissions by even 30 % (of the 1990 level) by 2020!!  and he added: "The fight against climate change reaches far beyond the environmental dimension – it goes at the very heart of our energy policy, our industrial production, our agriculture, or to put it simply at our way of life." In his speech he did not mention a single word about EU climate policy [22] starving millions of people !!!

This is the voice of well-known ideologies. It seems the [26] architects of the New World Order and their politician fellow travellers are pushing for something big to happen, so as to make us  ask for their UN/[27] NATO-led world state to solve the problems, they are themselves deliberately creating. 

 

 

 




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URL to article: http://euro-med.dk/?p=764

URLs in this post:
[1] Bank crisis: http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/04/11/ccecb111.xml
[2]
Richard C. Cook: http://www.globalresearch.ca/index.php?context=va&aid=8450
[3] Forex & Finance : http://fin-forex.com/?s=IMF%29+evaluates+losses+in+%24945+billion+
[4] further: http://euro-med.dk/?p=259
[5] Pres. Bush sr.: http://www.threeworldwars.com/nwo-timeline2.htm
[6] 1800 pounds: http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/12/19/nrock119.xml
[7] purchase by Rothschild Agent, J.P. Morgan of the Bear Stearns Bank: http://my.opera.com/richardinbellingham/blog/show.dml/1833182
[8] Bear Stearns: http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3678336.e
ce

[9] 2 Dollars a share, which one week earlier was worth 30 dollars - and one year earlier 170 dollars!: http://borsen.dk/finans/nyhed/128184/newsfeeds_rss/
[10] New Europe: http://www.neurope.eu/articles/85193.php
[11] 9.5%.: http://online.wsj.com/article/SB120830801929118097.html?mod=AutosChannelMain_RelatedStories
[12] Simon Doyle: http://www.canada.com/ottawacitizen/news/story.html?id=584940cd-d83e-40c4-9ba7-767635384a99&k=40
323

[13] European Council on Foreign Relations: http://euro-med.dk/?p=110
[14] George Soros: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ajkPSW_domB4
[15] David Rockefeller´s  Memoirs p. 405.: http://www.newswithviews.com/Cuddy/dennis60.htm
[16] Eliot Spitzer: http://www.nytimes.com/2008/03/10/nyregion/10cnd-spitzer.html
[17] NAFTA: http://euro-med.dk/?p=458
[18] Euro-mediterranean Common Market in 2010: http://ec.europa.eu/external_relations/euromed/bd.htm
[19] Wall Street Crash : http://www.fdrs.org/banking_history.html
[20] Nathan Rothschild: http://www.the7thfire.com/new_world_order/final_warning/house_of_rothschild_final_warnin.htm
[21] David Rockefeller: http://www.mega.nu:8080/ampp/bilderberg.html
[22] Starvation panic: http://euro-med.dk/?p=745
[23] price speculation: http://www.larouchepub.com/lar/2008/3510rome_roosevelt.html
[24] mendacious scaremongering climate campaign : http://euro-med.dk/?p=41
[25] Stavros Dimas, the EU is willing to cut its CO2 emissions by even 30 % (of the 1990 level) by 2020!!: http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/08/196&format=HTML&aged=0&
;language=EN&guiLanguage=en

[26] architects of the New World Order: http://euro-med.dk/?p=488
[27] NATO: http://euro-med.dk/?p=686