The fascist EU

[JR8]

http://blogs.telegraph.co.uk/finance/am ... -reserves/
'EMU plot curdles as creditors seize Cyprus gold reserves'




What would be the US equivalent...? Connecticut butt-f**** 'equal partner' Idaho, destroys their economy, for not playing by 'the rules'.

?

[Wd40]

If you have any substantial monies in equities or risky assets, anywhere in the world, now is the time to take it out.

To me Cyprus is just the spark that will cause a huge blaze in the very future.

[Strong Eagle]

Great article, JR8, and while it's something of an oversimplification, when are the governments going to start worrying about the people instead of the banks?

[JR8]

Great article, JR8, and while it's something of an oversimplification, when are the governments going to start worrying about the people instead of the banks?

Yes, he's a good writer and he knows his subject.

It's a thought provoking question you raise. IMHO it is a top-down power structure, as they know very few people positively wish or chose to be within this political block*. I think I've said it before, Jean Monnet the original architect of the EU as we have it now, laid down the strategy of creating the EU in baby steps, so that at no point would the citizenry consider the final destination. They present it as 1,000 individual and independent projects rather than all a part of one whole. The steps are all laid out, they just wait until they think they can get the next one past the citizenry before allowing them any vote or say on it. And if they happen not to vote the 'right way', then they wait some time longer, preach fire and brimstone, and then make them vote again. 'There is no reverse gear'.

The other thing is that the EU is geo-political power for it's own sake. That is and always has been the end goal. It is the tail, wagging the dog (the EU citizenry).



* I would be interested to calculate the correlation between
- All EU member states + say the next three countries on the waiting list to join.
vs
- The relative per capita wealth of these states/countries.

From what I see the poorer = the keener to join. But the poorer = the greatest risk (refer Greece).

Turkey has been in the queue for eight years. How the EU politicians must fantasise about Turkey joining 'Just think 75mm more citizens, we'd be so much larger than the USA!', but it would be like Russian Roulette with 5/6 loaded chambers, and even the politicians accept this.

[scarbowl]

Great article, JR8, and while it's something of an oversimplification, when are the governments going to start worrying about the people instead of the banks?

If the government had not intervened the depositors would have lost all of their $$.

[JR8]

Great article, JR8, and while it's something of an oversimplification, when are the governments going to start worrying about the people instead of the banks?

If the government had not intervened the depositors would have lost all of their $$.

If Cyprus hadn't have joined the Euro, to which it is totally unsuited, this wouldn't have happened in the first place.

Which is the lesser evil?

- Some savers losing a lot of money

- An entire country being economically pole-axed, with no known remedy

[Strong Eagle]

Of course, you know what Paul Krugman thinks of the Euro...

http://krugman.blogs.nytimes.com/

Link to the article header.

http://krugman.blogs.nytimes.com/2013/0 ... -in-brief/

[ScoobyDoes]

I think I've said it before, Jean Monnet the original architect of the EU as we have it now, laid down the strategy of creating the EU in baby steps, so that at no point would the citizenry consider the final destination. They present it as 1,000 individual and independent projects rather than all a part of one whole. The steps are all laid out, they just wait until they think they can get the next one past the citizenry before allowing them any vote or say on it. And if they happen not to vote the 'right way', then they wait some time longer, preach fire and brimstone, and then make them vote again. 'There is no reverse gear'.

Drop a frog into boiling water and it will jump out.

Drop a frog into cool water and turn up the heat...... it will boil itself to death.

[JR8]

Of course, you know what Paul Krugman thinks of the Euro...

http://krugman.blogs.nytimes.com/

Thanks for that, his opening paragraph nails it (IMO). An interesting read, so much so (plus his previous post re: gold), that I've bookmarked/thumb-nailed his blog onto my homepage, for future reference.

p.s. Scooby. Yes, a good analogy!

[scarbowl]

Great article, JR8, and while it's something of an oversimplification, when are the governments going to start worrying about the people instead of the banks?

If the government had not intervened the depositors would have lost all of their $$.

If Cyprus hadn't have joined the Euro, to which it is totally unsuited, this wouldn't have happened in the first place.

Which is the lesser evil?

- Some savers losing a lot of money

- An entire country being economically pole-axed, with no known remedy

I agree. It is the fault of the people and the government in Cyprus with minor liability on the part of Greece. Let the wealth Russians, who mostly stole their money, take the hit. The PP who thinks this will cause a huge financial catastrophe is over the top. Again, it was either tax those with the most or let them off and take from the rest.

[Strong Eagle]

An interesting article in Time Magazine.

http://business.time.com/2013/04/23/eur ... =obnetwork