TROIKA PLANS TO STEAL 10% OF ALL DEPOSITS IN EUROZONE!
By Piero Ricca
IMF has proposed taking money from the current accounts of European citizens! Lagarde admits to having discussions relating to robbing deposits as a method of tackling the debt. Bruno Amoroso maintains that Troika is at work once more. ECB and the Commission are preparing raiding thesavings and IMF is doing the same while working along parallel lines, concentrating on how to get the citizens to pay the foreign debt of the States.
Piero Ricca: Professor, the last few days have seen a discussion about the hypothesis, seen in an IMF report, of a one-off grab of money from current accounts on a European level. Does that strike you as credible? And in what context is this hypothesis situated?
Bruno Amoroso: The IMF’s hypothesis is part of the second phase of the strategy of expropriating the savings of the citizens, that started in the 1980 and 1990s and that saw its success in the United States and in the European Union with the financial money grabs of 2008-2010. A robbery that has delivered the loot into the hands of a small number of groups to a value of 37% of Europe’s GDP; that is State help provided between October 2008 and October 2011 that has benefited financial institutions by 4,500 billion euro, and 6,500 billion euro has been added to that. This has obviously caused the explosion of the ”sovereign debt” in many countries of the EU, estimated to be between 45 and 65 thousand billion euro. This robbery, defined by K. Galbraith as the “greatest financial crime in the history of capitalism” has movers and shakers who are known. It’s sufficient to read the text of the investigation carried out in the United States by the Financial Crisis Inquiry Commission (Financial Crisis Inquiry report, 2011) that discusses the mechanisms and the political collusion that has taken place. The report explains that all the laws brought in to legalise this robbery are in operation and the people responsible are in their positions and they are getting ready for the second round.
PR: Is it still possible to save the European integration project?
BA: I fear that it’s too late to restore trust between the citizens of Europe and the institutions. However, for those that believe that still to be possible, the Triad needs to be swept away and power needs to be given to the European Parliament so that it can be the expression of a European political government within the limits of the powers that it has. As regards the countries in the south of Europe that have been devastated by the crisis and by the ECB, there needs to be renegotiation of the functioning of the whole Euro-zone in such a way that there are two monetary areas with greater margins of flexibility and with a solidarity mechanism between the north and the south. The stumbling block is represented by Germany, the stumbling block that has brought down the Euro. Germany must either contribute to bringing back the ship to an upright position or we’d better abandon the ship before it’s too late. But I fear that it is already too late, and the first ones to abandon ship will be the Germans themselves.
There can be no growth without abolishing huge regulation, huge taxation, and huge political corruption. Basil Venitis, venitis@gmail.com, http://themostsearched.blogspot.com, @Venitis
BANKING UNION
BANKING UNION IS A STUPID SOCIALISTIC SCHEME TO FORCE THE CAPITAL TO GO TO THE FOUR PIGS
Eurokleptocrats create a stupid banking union to socialize the debts of banks of PIGS. The next step will be the introduction of stupid eurobonds. By the time France is hit by the crisis, Merkel will no longer be able to refuse this stupid demand. This development will ultimately lead to a stupid system that has little in common with a market economy. ECB and ESM will then direct the flow of capital into countries where it no longer wants to go. This will result in growth losses throughout Europe, and money will continue to be thrown out the window of PIGS. Furthermore, it will create considerable discord because it makes closely allied countries into creditors and debtors.
MERKEL AND BARROSO, BONNIE AND CLYDE OF EUROPE!
Merkel and Barroso are the Bonnie and Clyde of Europe, robbing banks! Breaking with previous EU practice that depositors' savings are sacrosanct, EU now robs depositors. That infuriates depositors in eurozone's weaker economies and investors fearing a precedent that could reignite market turmoil. Robbing depositors is definitely a no-no. If you can do this once, you can do it again. Eurozone has deteriorated to a robber of depositors.
BAILIN DIRECTIVE ROBS DEPOSITORS IN COLD BLOOD!
NEW EU LAW CYPRUSES YOUR BANK ACCOUNTS!
EU has a new law to grab the excess of a hundred-thousand-euro deposits if a bank fails! Barroso ordered the directive on bank safety which would incorporate the issue of investor liability in member states' legislation. Your bank account will be cyprused! Dijsselbloem says the rescue program agreed for Cyprus - the first to impose a levy on bank deposits - would serve as a model for future crises, a trademark template of eurozone.
Olli Ren says: The directive assumes that investor and depositor liability will be carried out in case of a bank restructuring or a wind-down. But there is a very clear hierarchy, at first the shareholders, then the unprotected investments and deposits. ECB's talk on Thursday about both standard and non-standard measures is very important because the ECB may have a role in making the situation easier.
Economic confidence is often the most fragile of things. Whether anything happens to robbing depositors, Fourth Reich has fired a shot across every European depositor. Given that interest rates already pay a derisory return, thanks to Quantitative Easing, ordinary savers may prefer keeping notes under the mattress to risking a bank deposit robbery. A Eurokleptocratic mafia has left contagion risk stalking the Eurozone.
Large investors who found Cyprus an attractive climate for business have already set their eyes on other offshore centers. The future prosperity of Europe is increasingly being held hostage by a mafia of Eurokletocrats rooted in denial. Their tragically deluded solution is more Europe, despite a democratic deficit, vast swathes of unemployment, and a lost generation of young jobless citizens.
ESM IS A PONZI SCHEME!
An ECB bazooka cannot restore competitiveness to PIGS, but would only encourage profligacy, kleptocracy, and metastasis of the cancer of socialism. European Stability Mechanism (ESM) is a joke. ESM’s finances depend on the very same countries that it is supposed to bail out. This isn’t stability, but a Ponzi scheme!
Stephan Götzl, head of a Bavarian banking association, compared the European Commission’s plan to grant itself the final say on winding up troubled banks to the type of law that allowed the Nazis to seize power! Götzl says: We in Germany have had a bad experience with enabling acts.
The Single Resolution Mechanism would give the commission ultimate authority over the eurozone’s ten thousand banks, with responsibility to pull the plug on a shaky lender and the authority to overrule its home state.
Merkel says: In my view, this proposal gives the commission powers it does not possess according to current EU treaties.
Schäuble warns Barroso to respect the limits of the law or risk major turbulence. Barnier hoodwinks Fourth Reich cannot afford to wait for treaty change, which is typically an arduous process that can take years. Barroso wants the resolution regime, commanding three hundred staff, to begin from January 2015.
The Greek presidency of EU must be annulled, because the kleptocratic alliance of Pasok mafia and Nea Democratia mafia cannot be trusted. The freakish government of Greece stole my computer, my files, and my life in cold blood!
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