Farage - We've got to break up the Euro!

Disgracefully Van Rompuy was actually Tweeting videos on behind the scenes preparations for an EU Summit:

19m Herman Van Rompuy ‏@euHvR

RT @eucouncilpress Preparing an EU summit - backstage video http://youtu.be/98ris0lhlZo #eucouncil #euco

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If the EU had any clout or respect - Argentina would not be seizing YPF

Spain is not just battered and bankrupt from its association with the thoroughly corrupt and worthless EU, it has now lost its stake in the Argentinian oil industry once held by Repsol through its stake in YPF.

Every European member state must be made aware by their voters that this intolerable wealth and democracy destroying disaster that is the corrupt European Union cannot be permitted any further life. Every day that passes, more money is squandered and greater indebtedness incurred, which high-paid EU and national officials will take years to squabble over, all at taxpayers cost. Read here.

The whole world will spit upon Eurozone countries as they cause impoverishment across the globe, such anger will quickly turn against other EU member states outside the Euro, quite rightly too, for those such as Britain, with its offer made yesterday of £10 Billion extra for the EU, via the IMF, is clearly complicit in maintaining this monstrosity with links to geopolitical life!

The EU should be immediately eradicated and wound up!

Greece is printing its own Euros!

The statement should come as no surprise for that is what the euro common EU currency is all about. However such production is supposedly under the control of the ECB for each member bank. Greek euros begin with the letter Y before the serial number, we must hope that any non-ECB authorised notes printed by the Greek Central Bank bear no other introductory letter, for if they did the euro currency would be immediately sunk.

The report on this apparent clandestine extra money production comes via The Slog, linked here, and the following is part of the translated source report from Belgium:

"Greece is printing its own Euros. The bank of Greece credits the accounts of Greek banks that would have been shutting their doors but for the emergency funds. All Greek banks are effectively bankrupt, it is that simple. These zombie banks can only survive through these ELA injections. Within the ECB system the only collateral for the euros created within the ELA mechanism - is the guarantee of the Greek state. I do not know what you think of this, but my humble opinion is that this guarantee is as good as worthless. You can change all sorts of declarations about the whys and wherefores of these operations, but believe me, the basic fact is simple: only by allowing the Greek central bank to print euros [create euros] can you avoid the implosion of the entire Greek financial system, with all the consequences that this would have for the eurosystem as a whole"

TARGET2 Claims on Bundesbank & 2 potential Doomsday Charts

 

 

H/T

Acting Man Blog

As Ironies Too has been pointing out for years, there ain't nuthin behind the ECB!

When it starts acting like it is a real Sovereign Central Bank (with taxpayers it can sacrifice) watch out, for disaster looms!

That's what the EU Fiscal Treaty is all about, but it might have been sensible to have got the German taxpayers signed up before incurring such grotesque commitments!

Will Chicago in May be insufficiently secure for the G8 in May?

The announcement yesterday of the cancellation of the G8 in Chicago next May came as a surprise to the organising committee, yet the report linked here indicates it has been under consideration for some time.

If in any way the decision is related to security considerations, then it must speak volumes on the uncertainty for the economy and the ever widening reach of the EU economic meltdown and potential euro collapse!

EU Pantomimes begin to run concurrently!

The IMF is now complaining that the EU Commissions action last week, in threatening to cut off Hungary's cohesion funds of €495 million, is having an adverse affect on its negotiations for a loan to rescue the Hungarian currency, already underway before the threat was made, read here.

Meantime Bloomberg reports that the German Parliament is being made to withdraw a demand that the IMF maintains its level of support at previous levels for Greece, even though the IMF was refused further financing at the weekend, because the EU could not agree to raise the firewall, because the German Parliament says it cannot afford it, hence the IMF's shortage of funds?

Yet as I tweeted earlier today, Mario Draghi at the ECB has the cure for all of this. He has decided he can create as many virtual Euros as he wishes and lend them all to Europe's banks regardless of their own relative strength, and all at only 1% p.a. for three years. These banks have been this morning lending on at 1.2% for 6 months and 1.29% for nine months to the sovereign state of Italy, which is one of the powers (I use the term figuratively) standing behind the ECB. That latter point will perhaps explain why Draghi's plan can immediately be seen for what it is. Otherwise in complete lalaland, the entire world could borrow from Draghi for three years at 1% but who would be there to cover the losses - something, perhaps, for the German Parliamentarians to ponder before they vote at 6 pm this evening!

Osborne and Lagarde lead push for more cash for the Euro Zone

Quite incredibly this year's Davos meeting is being brought to a close by the British Chancellor of the Exchequer, George Osborne, leading the rallying call, alongside former French Finance Minister and now IMF head Christine Lagarde, for more money to be poured into the pit that is a doomed Euro Currency. The report in the Irish Times is linked here.

Such calls came when even at the same meeting others were predicting the almost certain end of the currency, the article's conclusion being as follows:

However, economist Nouriel Roubini was more downbeat and described the euro zone as a “slow-motion train wreck”.
Mr Roubini said he expected Greece, and possibly Portugal, to exit the euro zone within the next 12 months and believed there is a 50 per cent chance of it breaking up completely in the next 3-5 years.

Miliband urges Cameron to miss Commonwealth HOG meeting for further EU humiliation!

Cameron, bruised football of the powers that be in the EU, is on his way back to London this afternoon, as the serious business of deciding the future course of Europe gets underway, amongst the main players in the Euro Group of former sovereign and soon ex-democratic nations.

Continued humiliation for Britain will be guaranteed tomorrow by Ed Miliband, supporting Cameron to reject a British EU referendum in the House of Commons tomorrow, with a three line whip for Labour MPs to also vote in support of the treacherous and devious Tory leader and his EU Comptrollers!

Laughingly, this same leader of the Labour Perty, which sold the country out by delivering us bound and gagged under the terms of the Lisbon Treaty, shamelessly reneging on their promise of a referendum, today suggested (see also here,) on the BBC's The Politics Show, this lunchtime, that Cameron, at the moment of being ejected and excluded from the discussions in Brussels, should also cancel his trip to Perth in Western Australia, this week, where the Commonwealth Heads of Government meeting is taking place, in what should be a perfect opportunity for our country to shake off the introverted sloth caused by the corrupt EU and thereafter to once again re-forge our historical worldwide trading links!

We must very soon begin to restore our national wealth, sapped as it has been by the EU over many years of devious subservience, or the resulting countrywide poverty will undermine the national will even more severely, as seems the intention and objective of Cameron, Clegg and Miliband!

The Commonwealth could soon become our salvation, if we can but be saved from the treachery of the present ruling political class!

China's top daily paper urges EU action on the crisis!

Reuters reports on the startling newspaper headline in Saturday's overseas edition of the People's Daily in Beijing. One quote from the article is the following:

"But if Europe keeps dilly-dallying, the situation can only worsen and gather speed. Outsiders who want to help will not dare, and then the euro zone may really disintegrate. Without doubt, this would be a huge disaster for Europe and the world."

So trumpets the mouthpiece of one of the most oppressive regimes in the world, urging the once free and democratic former nation states of Europe to join together in a fiscal union, which to succeed can only be modelled along the collectivist and totalitarian lines of all extreme socialist regimes.

These calls for greater fiscal union under the guise of the more soothing sounding "economic governance" must be resisted by the people of the EU at all costs.

We can return power to our national parliaments by restoring Europe's national currencies. The euro was designed as a tool for tyranny and totalitarianism, which would always create a crisis such as that we are witnessing today, one can only presume in order to further advance the once free West, towards that end.

Troika demands Greece fire 45,000 civil servants for new funds!

The terrible price for saving the electoral skins of Angela Merkel and Nicolas Sarkozy rose another notch last evening as an emergency meeting of the Greek cabinet was informed of the new firings required by the troika of the EU,IMF and ECB as available in The Australian, linked here, from which comes this quote:

As part of discussions with its creditors, Greece agreed in March this year to lay off 80,000 public-sector workers by 2015. But with the consent of the troika, the government has also hired around 25,000 new workers in the past two years to fill shortages in select areas of the public sector.

Now, with Greece unlikely to meet its deficit targets this year, the troika has upped the target for public-sector layoffs to 100,000 – demanding that the government proceed with its promised public-sector cutbacks while rescinding all new hiring made in the past 20 months.

Britain and the rest of the EU be warned! France and Germany jointly imposed the euro currency upon Europe knowing it would fail without fiscal and political union, France and Germany deliberately smashed the Growth and Stability pact which if honoured might have deferred the coming collapse and now France and German will sacrifice the rest of the EU to avoid the default of their national banks!

Blaming the Brits for the Euro's Collapse!

On 25th January of this year I discussed the coming EU implosion in a post linked here. Earlier, in December, I had suggested that national politicians should look to find their own protections from the coming crisis, read here.

More significantly, while it has been clear that when the Euro Currency failed, as serious economists had virtually unanimously predicted it must, I have often predicted, that in spite of all the sacrifices made by Britain, (such as with the sovereignty abnegated, old alliances abandoned and finally with the EFSM,) it would be our non-participating country that would receive the blame when the euro inevitably and eventually failed from its own internal contradictions.

As I posted on this blog yesterday, that process has now begun in Germany. Soon it will spread across the Euro Group of countries.

There is so far no sign that the Foreign Office Mandarins have prepared for this event, no defence of our position has been made by any Foreign Office Minister nor by any Coalition Government Cabinet Minister! Obviously enough, nothing either has been said in Parliament. The people of Britain are once again being failed and betrayed by their political class!

The Entire British Establishment Stands Condemned by Darling's Downing Street Memoirs!

Nobody in Britain can claim that they did not know Gordon Brown was an out of control maniac, determined to destroy Britain's economy. This blog and others chronicled his lunatic and demented activities day by day.

Now the nation feigns shock as Alistair Darling's memoirs of his 1000 days as Brown's Chancellor of the Exchequer, at 11 Downing Street, detail the deliberate denudation of our country.

The entire British Establishment stands condemned of treachery, from the Sovereign at the top, through to the civil service mandarins, down to the lowliest civil servant, on and on to include all the minor fry, whether elected or appointed central or local official, every Quango Chief and ordinary member who ever had any contact with this dangerous man.

If blackmail was involved, as surely must have been the case in many instances, then the nation needs to root out the dark secrets  that were thus being hidden, so awful that each individual deliberately chose the destruction of his country and betrayal of his functions rather than have them revealed.

Even more critically, in today's situation of the EU now being on the brink of economic collapse, a similar crisis confronts us this very day. The leaders of our country are destroying what remains of our national resources, having pared our defences to the bone, to save the doomed Euro currency, while refusing to consider any policy preparations which might ease the path of our country when the inevitable Greek default occurs, and the tumbling dominoes that will follow seem likely to sweep our banks to destruction in their path, and with them all the billions of taxpayers' money, wasted by Brown, Balls, Darling, Cameron, Clegg and Osborne with it, leaving us essentially bankrupt.

What hold does the EU have over our national leaders of today? Where in Parliament is there an MP who will get to his feet  or face a national broadcaster and proclaim "Enough!"

(Update 0845 am BST - Further reading John Rentoul Independent on Sunday.)

Has Bundesbank's Weidmann now approved Italian bond buying?

The question in the headline of this post now seems to be the one upon which hangs the short term fate of the euro currency - in the long run all must now discern that it is clearly doomed.

On Thursday it was quite clear that the Germans had vetoed any ECB purchases of Spanish and Italian Bonds by the ECB, read a Reuters report from here. The press conference in Rome last evening was as I earlier reported, short on specifice, yet the Irish Times, this morning, linked here, reports as follows:

ITALY HAS buckled to world pressure in a bid to halt a market rout endangering the global economy, pledging to speed up austerity measures and social reforms in return for European Central Bank help with funding.

If a bond buying programme for Italy and Spain has been agreed, then taxpayers in the Euro Group's remaining Triple A rated countries now face billions upon billions of extra losses, and their own country's triple A status must therefore also surely be at risk? For once it starts when and how will it ever end, as can be seen with Greece?

Your Euros - the notes not to take home!

Usually around this time of year, during the holiday season, I remind readers of the serial numbers of the Euro notes it is probably best not to take home.

Many believe that the Euro is a single currency, like most other things about the EU, however, that is a complete misrepresentation of the truth; each country issues and therefore guarantees its own euro notes. They can only be told apart, not by differences in design, but only by their serial number, read here. German notes, which at the moment are still probably OK (until Angela Merkel, takes on the entire debt of the rest of the Euro Zone, that is,) begin with an X!

Some others, that thoughtful people may wish to think twice about taking home for spending on a later vacation, are the following:

Z - Belgium

Y - Greece

V - Spain

T - Ireland

S - Italy

N - Austria

M - Portugal

G - Cyprus