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Eu - A Flawed Foundation, But Brilliant Strategy?

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http://www.zerohedge.com/article/guest-post-eu-flawed-foundation-brilliant-strategy

The European banks are slowly but surely, through a tactic of Financial Arbitrage, moving more and more sovereign debt to the ECB and EU. Someone must pay for this debt and that will eventually be the entire European taxpayer base. That is the goal.

In the initial stages of the Euro dream everyone was benefiting. Like an initial user of drugs the early stage is euphoric before the issues associated with the addiction surface. This stage fostered tremendous growth in debt - never ending Corniche housing villas in Spain and Portugal, embarrassing pensions and social benefits in Greece, tax advantages for off shoring corporations in Ireland or unjustifiable and hidden local government spending in Italy.

It has been a captive market for the Asian Mercantile Strategy and a financial retail market boon for US financial instruments created from the never ending supply of freshly minted US fiat paper.

I was living in Europe during the debates on the viability of a European Union. I remember only too well what everyone eagerly wanted and fantasized gaining from a European Union.

Citizens:

They saw and wanted employment. The EU meant they could go anywhere the jobs were.

It meant cheaper goods because tariffs were to be removed,

It meant cheaper cost of financing because of a single currency with as Germany the 'anchoring credit'.

None of which have turned out to be as advertised by those wanting the EMU

(except cheap goods which they don't have the jobs nor disposable income now to afford)

More at the link.

I'm not certain that the real goal is to get all the debt on the EU books and for the European taxpayer to foot the bill. Being more devious in nature the idea maybe to get the debt on the books of the EU / ECB under the pretence that the Euro taxpayer will foot the bill but this also gives the option of the debtor nations walking away from the debt because it's the EU that now holds it and not them. Said nation leaves the Eurozone and the ECB says the debt is with the nation and the nation says it's with the ECB. Default and no one pays?

Although I don't think the EU dream of living and working where you want was totally sold, to be honest the only place where I could possible go and work is Ireland because of the common language I couldn't work in France/Germany etc... as I don't speak the language. The EU dream to be honest was mostly BS.

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I read the article earlier today already, it is really well written and makes the whole grand scheme behind the EU and Euro very clear.

There are really only two outcomes: either the elite wins and all of Europe becomes enslaved through debt, or there will be popular mass revolts that would severely set back the NWO plans of the elite.

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http://www.zerohedge.com/article/guest-post-eu-flawed-foundation-brilliant-strategy

More at the link.

I'm not certain that the real goal is to get all the debt on the EU books and for the European taxpayer to foot the bill. Being more devious in nature the idea maybe to get the debt on the books of the EU / ECB under the pretence that the Euro taxpayer will foot the bill but this also gives the option of the debtor nations walking away from the debt because it's the EU that now holds it and not them. Said nation leaves the Eurozone and the ECB says the debt is with the nation and the nation says it's with the ECB. Default and no one pays?

Although I don't think the EU dream of living and working where you want was totally sold, to be honest the only place where I could possible go and work is Ireland because of the common language I couldn't work in France/Germany etc... as I don't speak the language. The EU dream to be honest was mostly BS.

Do lessons in "Shouting louder in English" really cost that much?

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If (when) the whole of the EU defaults, who will the outside world come to to recover the debt...?

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It's a shame this article didn't get more attention here, but then what can we expect from all those daily hate mail readers that have swamped this forum recently, they rather start an endless and pointless debate about whether a greek euro banknote is different and more at risk than a german one... <_<

Edited by wise_eagle

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This is well worth a read and second hand copies are now very cheap:

http://www.amazon.co...06918173&sr=8-1

It's been rotten for decades - right back to beginnings after WW2

12 January 2011 12:18 http://www.efdgroup.eu/news/202-dutch-auditor-turns-eu-whistle-blower.html

The Netherlands member of the Court of Auditors, Maarten Engwirda, told the press that the European Court of Auditors had been sabotaged systematically for years.

The auditors' role is to sign off the accounts of the EU, something which they have refused to do for the last 16 years, largely because of irregularities.

Mr Engwirda said that, as a rule, criticism of fiddling with European money has been swept under the carpet and claims that several of his colleagues, among them members from France and Italy, were guilty of sabotage and intimidation, often in order to protect national interests.

But for UKIP MEP Ms Andreasen, a former Chief Accountant of the European Commission turned whistle-blower herself, the revelations are nothing new.

"The EU talks of transparency but crushes whistle-blowers." she said.

"It speaks of probity but is a byword for financial corruption and waste. As a political entity, the EU stinks to high heaven. All that surprises me about the revelations of the former member of the Court of Auditors Mr. Engwirda is that they did not come sooner.

I presume that his conscience got to him and he had to resign on the first of the month in order to speak the truth about the corruption and day-to-day fraud that goes on in EU institutions.

When I was Chief Accountant of the European Commission I experienced huge pressure to conceal the truth about EU expenditure and not voice any criticism.

I can back up what Mr Engwirda said as I witnessed the arm-twisting of the auditors each time they attempted to reveal the failures in the EU accounting and control systems. They came under huge pressure to keep the accountancy fraud hushed up.

Sadly the Auditors did not support me when I stood up in defence of European taxpayers. In my opinion, the European Court of Auditors is not an independent body and cannot, therefore, be relied upon.

The structural arrangement of the EU has allowed massive irregularities and waste in EU funding and I have absolutely no hope that this situation will ever change until Britain withdraws from the EU."

Edited by erranta

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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