Saturday, February 11, 2017

Rats leaving the sinking EU ship

No elitist bureaucrat ever walked away from a cushy do-nothing job without a good reason and no its not different this time as we see the head of the EU decline to participate in the next election. Jean-Claude Juncker has gone public with his plans to walk away from the incumbency at the end of his term and the reasons for it that he gave were pretty clear: The EU is no longer in the mood to get along.  He was quoted as saying, "Do the Hungarians and the Poles want exactly the same thing as the Germans and the French? I have serious doubts".

Well I have doubts as well because as I have said all along, even long before there were any problems that were obvious, the EU is a creation of Germany and France for the benefit of Germany and France.  It was always a long con which was magickly (sic) conjured up in order to give the exporters of Europe some credit worthy customers to ship their products to.  Without a new game and a new promise that debtors would not just inflate away their debt, nobody was going to invest in more production.  But the creation of the Euro meant that no participant in the EU had sovereign control of their money supply anymore.  They had sold that right to their German and French overlords operating out of Brussels in exchange for a new credit card on which they could rack up big new bills to live a lifestyle which they had not earned.


Who besides me was saying this back in 2011?  That would be nobody.  Here is a post written in 2011 (one of several in fact) that explains how systemic net exportation is never anything more than a vendor finance scam.  It also correctly predicts who is going to get screwed in this deal and why.  Any it won't be who most people think.  It will be the people of the countries who allowed their oligarchs to take on massive, "too big to fail" debt in order to build their production capacity that was needed in order to send what will eventually be understood to have been free goods to neighboring net importers (including the USA) who will default on their debt promises when the global debt Ponzi finally collapses (and it will...).

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