Europe is on the verge of economic Armageddon.
I read an article by Dr. Paul Craig Roberts (posted on 26-November-2011) that explained the failure by Germany to sell it bonds on 23-November-2011, i.e., they only sold 65% or so of their 10-years bonds. Anyway, Dr. Roberts opined that it was the U.S. Treasury, the ECB, the EU authorities, and the private banks that own the trouble sovereign debt, that were the entities directly responsible for the failed German bond sale.
Dr. Roberts also pointed out that it is Goldman Sachs and other U.S. financial institutions that have sold
the credit default insurance on this sovereign debt, and that in the event of default, these institutions would
have to cough-up over a Trillion Dollars. The whole point is that the banksters cannot allow the German
government to prevent the ECB from printing Trillions of Euros out of thin air. When the ECB was created,
the German government put restrictions on the ECB which prohibit “printing” of money out of the ether.
That privilege is currently reserved only for the Federal Reserve Bank and the Bank of England.
You can read the article for yourself (linked below) but the bottom line is that the European Union will
be driven to economic slavery via debt implosion which is the whole fucking plan in the first place.
My guess is that this implosion will occur sooner rather than later.
Several sources, including Money and Markets, are warning of an imminent Euro-Zone implosion
that will spawn riots and other civil unrest across Europe. Most researchers agree that it won’t take
long for the financial contagion to spread to the USA.
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