Jul 12

Wile_E_Coyote-Dont_Look_Down

CEO Of Europe’s Largest Insurer Pops The Utopia Bubble: “Nothing Is Solved And Everybody Knows It” (ZeroHedge, July 11, 2014):

It’s one thing for a tinfoil fringe blog to repeat, month after month, that nothing in Europe has been fixed, that Draghi’s disastrous policies are merely concentraing and stockpiling even more unresolved problems – for now ignored courtesy of the gentle sprinkle of ZIRP, or rather NIRP “fairy dust” – and that just like Portugal showed panic can grip the entire continent literally overnight because everyone knows this. It is something entirely different for the CEO of Europe’s largest insurer to make the same statement.

From Bloomberg:

When asking Allianz SE’s chief investment officer about the euro area’s sovereign debt woes, be prepared for an emphatic response.

The fundamental problems are not solved and everybody knows it,” Maximilian Zimmerer said at Bloomberg LP’s London office. The “euro crisis is not over,” he said.

While extraordinary stimulus from the European Central Bank has encouraged investors to pile into the region’s government bonds this year, that’s not a sufficient remedy for Zimmerer, who oversees 556 billion euros ($757 billion) at Europe’s largest insurer. Countries are still building up their debt piles, and that’s storing up trouble for the future, he said.

Continue reading »

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Jun 05

H/t reader J. S.:

“The EU is getting desperate,

I didn’t really think they would do it but they did.”


- Updated: ECB Cuts Interest Rates, Introduces Negative Deposit Rate (Kitco News, June 5, 2014):

Following its monthly monetary-policy meeting Thursday, the European Central Bank cut interest rates on its main refinancing operation at by 10 basis points, bringing it down to 0.15%. As expected the central bank introduced a negative deposit facility rate with a 10 basis point cut, bringing it to minus 0.10%

The ECB also dropped its marginal lending facility rate by 35 basis points to 0.45%. Continue reading »

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Apr 29


Added: Apr 25, 2014

Description:

Trends Guru and forecaster extraordinaire Gerald Celente joins Sheila Zilinsky the Weekend Vigilante on his plan for a one-two punch to the globalist agenda and we take back the greatest country in the world

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Apr 08

dollar-euro

- Meet ‘lowflation': Deflation’s scary pal (RT, April 7, 2014):

Peter Schiff
By Peter Schiff

In recent years a good part of the monetary debate has become a simple war of words, with much of the conflict focused on the definition for the word “inflation.”

Whereas economists up until the 1960’s or 1970’s mostly defined inflation as an expansion of the money supply, the vast majority now see it as simply rising prices. Since then the “experts” have gone further and devised variations on the word “inflation” (such as “deflation,” “disinflation,” and “stagflation”). And while past central banking policy usually focused on “inflation fighting,” now bankers talk about “inflation ceilings” and more recently “inflation targets”. The latest front in this campaign came this week when Bloomberg News unveiled a brand new word: “lowflation” which it defines as a situation where prices are rising, but not fast enough to offer the economic benefits that are apparently delivered by higher inflation. Although the article was printed on April Fool’s Day, sadly I do not believe it was meant as a joke.

Continue reading »

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Mar 31

Italy

- More than 40% of Italians want to quit euro (The Local, March 31, 2014):

As Europeans prepare to go to the polls in the EU elections in May, the study, conducted by Ixè institute for the Italian broadcaster Rai3, found that 43 percent of Italians would like to return to the Italian lira, the news agency Ansa reported.

The survey, which polled 1,000 people, found that the majority of those in favour (70 percent) were voters of Beppe Grillo’s Five Star Movement and 56 percent supported Silvio Berlusconi’s Forza Italia.

Meanwhile, just 28 percent of voters of the centre-left Democratic Party wanted out of the euro.

Continue reading »

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Jan 16

- Nigel Farage Booms “Europe Is Now Run By Big Banks, Big Business, And Big Bureaucrats” (ZeroHedge, Jan 15, 2014):

With Greek Prime Minister Antonis Samaras settling into his role as EU President, UKIP’s Nigel Farage stunned the “Goldman Sachs puppet” with a 150-second tirade of truthiness he has likely never experienced. Farage sacrastically remarks how Greeks “will be dancing in the streets” at Samaras’ ‘successful’ negotiation on MiFiD reminding him that “60% of youth are unemployed and the neo-nazi party are on the march.” Europe is now run by “big business, big banks, and big bureaucrats,” Farage goes on, suggesting the smarmy-looking Samaras should “rename his party from New Democracy to No Democracy.” People do not want a United State of Europe, the outspoken UKIP leader explains, they want a “Europe of sovereign states,” and concludes ominously, “the European elections will be a watershed.”

…And you come here Mr Samaras and you tell us that you represent the sovereign will of the Greek people? Well, I’m sorry, but you’re not in charge of Greece, and I suggest you rename and rebrand your party – it’s called ‘New Democracy’, I suggest you call it ‘No Democracy’.

Because Greece is now under foreign control. You can’t make any decisions, you’ve been bailed out, and you’ve surrendered democracy, the thing your country invented in the first place.

And you can’t admit that joining the euro was a mistake – of course Mr Papandreou did that didn’t he, he even said there should be a referendum in Greece and within 48 hours, the unholy trinity (troika) that now run this European Union had him removed and replaced by a ex-Goldman Sachs employee puppet.

We are run now by big business, big banks and in the shape of Mr Barroso, big bureaucrats…

Ouch!!

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Dec 16

crash-dollar

- Yet Another Massive Nail In The Dollar’s Coffin (ZeroHedge, Dec 14, 2013):

Two years ago, the CME announced USD/CNH futures trading enabling speculation (and hedging or risk transfer) of offshore Chinese Renminbi. On the other side of the world this week, a couple of gentlemen that few people have ever heard of signed an agreement that has massive consequences for the global financial system. It was a Memorandum of Understanding signed by representatives of the Singapore Exchange and Hong Kong Exchange. Their aim – to combine their forces in rolling out more financial products denominated in Chinese renminbi. This is huge…

Submitted by Simon Black via Sovereign Man blog,

Hong Kong and Singapore are THE two dominant financial centers in Asia. For years they’ve been locked in competition with one another, much like New York and London. So their public partnership is a very big deal… indicative of the clear objective they have in front of them.

Bottom line – finance executives in Asia see the writing on the wall. They can see that the dollar is in a period of terminal decline, and it’s clear that the Chinese renminbi is going to take tremendous market share away from the dollar. They want a big piece of the action.

The renminbi has already surpassed the euro to become the #2 most-used currency in the world when it comes to trade settlement, according to a report released yesterday by the Society of Worldwide Interbank Financial Telecommunication (SWIFT). Continue reading »

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Oct 03


YouTube Added: 01.10.2013

Description:

This video documents how the U.S created Al”qaeda to foment ww3. And to be an extension of the U.S army, to overthrow the opposition forces, and keep the World bankers in power. World bankers need ww3 to acquire the existing powers they have not yet brought into control. After ww3 they will control us as slaves since there will be no more opposition. We need to stop ww3 and to do this we have to end the federal bank. We can do this by refusing to elect their president puppets into office again. Don’t be fooled again.

Flashback:

- The Real Reason Why They Killed Muammar Gaddafi (Video)

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Sep 13

- Anti-Euro Party in Germany Makes Significant Headway into Parliamentary Elections (Liberty Blitzkrieg, Sep 12, 2013):

I haven’t been paying all that much attention to Germany as of late considering the incredible amount of scandals that have been emanating from the Obama administration, in addition to its ridiculous and dangerous attempts to catalyze World War III. However, with parliamentary elections set for September 22, it appears there are some interesting things afoot.

In case you haven’t heard of it, a new party was formed in Germany on February 6, 2013. The party is known as the AfD, or the “Alternative for Germany.” It is strongly anti-Euro and has gained surprising strength in the polls despite its very brief history. Continue reading »

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Jul 03

- French Opposition Demands Referendum, Warns “What Are They Going To Do? Send In Tanks?” (ZeroHedge, July 1, 2013):

For the first time, France’s Front National party (described by some as 1930s Social Nationalism) is running level with the two governing parties in post-war France – the Socialists and the Gaullistes. With all around 21%, the Front is rapidly gaining support as its leader, Marine Le-Pen exclaims, “Europe is just a great bluff. One side there is the immense power of sovereign peoples, and on the other side are a few technocrats.” As The Telegraph reports, following a massive victory securing 46% of the vote in a recent by-election, her anti-euro sentiment is clearly gathering attention. “The euro ceases to exist the moment that France leaves, and that is our incredible strength. What are they going to do, send in tanks?” she notes, adding that should she be elected she will demand an EU referendum, “I will negotiate over the points on which there can be no compromise. If the result is inadequate, I will call for withdrawal.” While her rhetoric is strong, it is clear by the gains and her purging of the more extreme members of her cantankerous father’s party that she is serious as she concludes somewhat ominously, “France is not a country that can accept tutelage from Brussels.”

Via The Telegraph,

[Front National Party leader Marine Le-Pen is] brimming with confidence after her party secured 46pc of the vote in a by-election earthquake a week ago.

Continue reading »

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May 19

- Belgian Police Investigate Millions of Counterfeit Euro Coins (Veterans Today, May 19, 2013):

WORLD NEWS TOMORROW – BRUXELLES -During the last month the Belgian Federal police has confiscated several tons of counterfeit Euro Coins that were shipped from China via the Belgian territory into the European Union. There seems to been a huge increase since 2012 in the production and sales of counterfeited Euro Coins.The counterfeit euro coins are smuggled into Belgium with description of old metal transports and it seems that there might have been several hundred tons of counterfeit euro coins already in the markets according to a radio interview confirmed by Ine Van Wymersch and that the Belgian federal police is investigating the matter at present.

Its is unclear as to how many tons of counterfeit Euro coins might have been smuggled into the Belgian territory. Seeing that Belgium is a very small country with a population of only 6 million , only a few tons of counterfeit Euro coins could hugely effect the true monetary value of Belgium.

Continue reading »

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May 08

- Godfrey Bloom of UKIP: Central Bankers Should be Arraigned as “War Criminals” (Liberty Blitzkrieg, May 7, 2013):

Coming off the heels of a fantastic performance in recent local elections, the UKIP under the leadership of Nigel Farage continues to make waves in both the UK and the Continent itself. In this case, I refer to a recent powerful performance at the European Parliament courtesy of Godfrey Bloom (UKIP), member of the European Parliament.

For many years, I have stated that Ben Bernanke was and is committing crimes against humanity, and would one day stand trial much like the war criminals at Nuremberg. It appears I am no longer alone in echoing such sentiments, as Mr. Bloom has just done so before the European Parliament.

I once said that Nigel Farage is Category 5 political hurricane.  That hurricane has landed.

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May 06

- German euro founder calls for ‘catastrophic’ currency to be broken up (Telegraph, May 5, 2013):

Oskar Lafontaine, the German finance minister who launched the euro, has called for a break-up of the single currency to let southern Europe recover, warning that the current course is “leading to disaster”.

“The economic situation is worsening from month to month, and unemployment has reached a level that puts democratic structures ever more in doubt,” he said.

“The Germans have not yet realised that southern Europe, including France, will be forced by their current misery to fight back against German hegemony sooner or later,” he said, blaming much of the crisis on Germany’s wage squeeze to gain export share.

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Apr 28


YouTube Added: 24.04.2013

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Apr 22

- 19% Of Germans Say They Would Vote For Anti-Euro Party (ZeroHedge, April 22, 2013):

In what may come as a shock to an otherwise quiet Germany, which has hardly seen any of the vocal (and actionable) “Euroskepticism” prevalent among its smaller peripheral neighbors, Handeslbslatt reports that a whopping 19% of Germans have said they would vote the anti-euro party Alternative for Germany (AFD). This means Bernd Lucke’s party, which appeared as if out of nowhere, has succeeded in taking Germany by storm, and is likely that his success and prominence will merely convert even more people on the fence about Europe’s future to those demanding a Deutsche Mark return. And while the AFD has yet to pose a direct threat to Merkel’s ruling CDU coalition which has 36.7% of the vote five months ahead of elections, recall that everyone ignored Beppe Grillo as a mere sideshow weeks before his blistering performance to nearly win the Italian election in February.All that would take for another surge in the Euroskeptic’s popularity is another summer of economic discontent and contraction: precisely the kind that is shaping up for Europe for the fifth year in a row.

From Handelsblatt, Google translated:

Continue reading »

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Apr 17


Added: 27.03.2013

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Apr 15

- China Takes Another Stab At The Dollar, Launches Currency Swap Line With France (ZeroHedge, April 13, 2013):

One more domino in the dollar reserve supremacy regime falls. Following the announcement two weeks ago that Australia And China will Enable Direct Currency Convertibility, which in turn was the culmination of two years of Yuan internationalization efforts as summarized by the following: “World’s Second (China) And Third Largest (Japan) Economies To Bypass Dollar, Engage In Direct Currency Trade“, “China, Russia Drop Dollar In Bilateral Trade“, “China And Iran To Bypass Dollar, Plan Oil Barter System“, “India and Japan sign new $15bn currency swap agreement“, “Iran, Russia Replace Dollar With Rial, Ruble in Trade, Fars Says“, “India Joins Asian Dollar Exclusion Zone, Will Transact With Iran In Rupees“, and “The USD Trap Is Closing: Dollar Exclusion Zone Crosses The Pacific As Brazil Signs China Currency Swap, China has now launched yet another feeler to see what the apetite toward its currency is, this time in the heart of the Eurozone: Paris. According to China Daily, as reported by Reuters, “France intends to set up a currency swap line with China to make Paris a major offshore yuan trading hub in Europe, competing against London.” As a reminder the BOE and the PBOC announced a currency swap line back in February, in effect linking up the CNY to the GBP. Now it is the EUR’s turn.

More on this curious move by the Bank of France and the PBOC from Reuters: Continue reading »

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Apr 10

Other Bilderberg members are Helmut Schmidt, Gerhard Schröder, Angela Merkel and Peer Steinbrück.

Get the picture Germany?

Your leaders are selected, not elected.

Just like in the US.

- George Carlin: The American Dream:


Helmut Kohl, Germany’s former chancellor, has admitted that he acted like a “dictator” to bring in the single currency to the country, otherwise he “would have lost” had he held a referendum.


“We would have lost a referendum on the introduction of the euro,” said former German Chancellor Helmut Kohl

- Helmut Kohl: I acted like a dictator to bring in the euro (Telegraph, April 9, 2013):

In an interview conducted for a journalist’s PhD thesis, Germany’s longest-serving postwar chancellor said that he would have lost any popular vote on the euro by an overwhelming majority.

“I knew that I could never win a referendum in Germany,” he said. “We would have lost a referendum on the introduction of the euro. That’s quite clear. I would have lost and by seven to three.”

The interview was conducted by Jens Peter Paul, a German journalist in 2002, the year when the Deutsche Mark was replaced by euro notes and coins, but has only been published now.

In it, Mr Kohl describes adopting the euro as an emblem of the European project, which he said had prevented war on the continent. Born in 1930, Mr Kohl’s politics were shaped by his country’s history in the 1930s and 1940s; his final years in power were focused on promoting European unity.

In the interview, he said: “If a Chancellor is trying to push something through, he must be a man of power. And if he’s smart, he knows when the time is ripe. In one case – the euro – I was like a dictator … The euro is a synonym for Europe. Europe, for the first time, has no more war.”

Mr Kohl justified overcoming the German public’s reluctance to relinquish the Deutsche Mark by saying that democratic politics had to be based on convictions rather than the ebb and flow of elections.

Continue reading »

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Apr 10

- The Next Capital Control: Banning The €500 Bill (ZeroHedge, April 9, 2013)

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Mar 25

- Cyprus Church Loses EUR100 Million, Curses Those Responsible (ZeroHedge, March 25, 2013):

Perhaps it was their comment last week that “with the brains in Brussels… the Euro can’t last,” but the Orthodox Church of Cyprus has lost over EUR100 million reacted to its holdings in Bank of Cyprus. Church leader Archbishop Chrysostomos II, in comments on TV, noted that “Cyprus asked for ‘crumbs’ compared to large size of Europe’s budget,” and that those responsible in Cyprus should be punished (he blames the outgoing government, Ministers of Finance, the Central Bank, and the Executive Directors of Banks) – “those that brought the place into this mess, should sit on the stool.” He noted that people will lose jobs and the state will be poorer but that the Church is prepared to help; and his first step – to send invitations to the heads of various Russian companies on the island.

Via Church of Cyprus,

Heads of Russian companies operating in Cyprus will call a working lunch, next Thursday, March 28, 2013, His Beatitude Archbishop Chrysostomos Mr. to encourage them to remain in Cyprus.

Continue reading »

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Mar 25

- Merkel “Very Happy”, Russian PM Furious: “The Stealing Of What Has Already Been Stolen Continues” (ZeroHedge, March 25, 2013):

First, it is Merkel’s turn, which last week was furious at Cyprus for daring to reject the first flawed Eurogroup plan impairing insured depositors, only to praise it for now… rejecting said plan. To wit: Chancellor Angela Merkel, “as well as the government, is very happy that the troika, the euro group and Cyprus were able to reach an agreement,” German government spokesman Steffen Seibert says in Berlin. He added that difficulties will arise in the short term because of measures aimed to scale back Cyprus’s banking sector, “but in the long run it will lead to a healthier” industry. That remains to be seen, especially when factoring in the Russian response.Which wont be pleasant.

The official Russian line is one of a typical professional chess player – calm, cool, collected: Russia doesn’t see need to take any additional steps now, may still agree to restructure loan, First Deputy Prime Minister Igor Shuvalov told reporters earlier. Shuvalov, unlike Merkel and ECB’s Mersch who sees nothing but green shoots (literally) everywhere in Europe, said that Russia is concerned Cyprus crisis may have negative effect on euro. The deputy PM says that he has no estimate for Russian losses in Cyprus but added that Russian money in Cyprus is “legal.”

The unofficial line comes from former president, and current PM and Putin mouthpiece, Dmitry Medvedev. From Reuters:

Moscow reacted with anger on Monday to a European Union bailout of Cyprus that will result in heavy losses for foreign depositors at the Mediterranean island’s banks, many of which are Russian.

The stealing of what has already been stolen continues,” Prime Minister Dmitry Medvedev was quoted by news agencies as telling a meeting of government officials.

Continue reading »

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Mar 21

- Mass Panic In Cyprus: The Banks Are Collapsing And ATMs Are Running Out Of Money (Economic Collapse, March 21, 2013):

European officials are openly admitting that the two largest banks in Cyprus are “insolvent“, and it is now being reported that Cyprus Popular Bank only has “enough liquidity to cover the next few hours“.  Of course all banks in Cyprus are officially closed until Tuesday at the earliest, but there have been long lines at ATMs all over Cyprus as people scramble to get whatever money they can out of the banks.  Unfortunately, some ATMs appear to be “malfunctioning” and others appear to have already run out of cash.  You can see some photos of huge lines at one ATM in Cyprus right here.  Some businesses are now even refusing to take credit card payments.  This is creating an atmosphere of panic on the streets of Cyprus.  Meanwhile, the EU is holding a gun to the head of the Cyprus financial system.  Either Cyprus meets EU demands by Monday, or liquidity for the banks will be totally cut off and Cyprus will be forced out of the euro.  It is being reported that European officials believe that the “economy is going to tank in Cyprus no matter what“, and that it would be okay to let the financial system of Cyprus crash and burn if politicians in Cyprus are not willing to do what they have been ordered to do.  Apparently European officials are very confident that the situation in Cyprus can be contained and that it will not spread to other European nations.

Unfortunately, European officials are losing sight of the bigger picture.  If the largest banks in Cyprus are allowed to fail, it will be another “Lehman Brothers moment“.  The faith that people have in banks all over Europe will be called into question, and everyone will be wondering what major European banks will be allowed to fail next. Continue reading »

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Mar 21

- Pictures From A Cyprus ATM Line (ZeroHedge, March 21, 2013)

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Mar 21

- Euro Official On Cyprus: “Markets Believe We Will Find A Solution, This Might Not Be The Case” (ZeroHedge, March 21, 2013):

While the market levitation courtesy of the Fed, BIS and BOJ continues unabated to give the impression that all is well, allowing empty momentum-chasing chatterboxes to say that Cyprus is not a big deal because… well, look at the market (and real traders the chance to quietly dump existing risk positions), the artificial, centrally-planned calm during the storm may be ending. The reason comes from none other than the Eurogroup, whose deputy finance ministers held a conference call last night, and whose transcript has been seen by Reuters.

Here are the highlights.

Euro zone finance officials acknowledged being “in a mess” over Cyprus during a conference call on Wednesday and discussed imposing capital controls to insulate the region from a possible collapse of the Cypriot economy.

In detailed notes of the call seen by Reuters, one official described emotions as running “very high”, making it difficult to come up with rational solutions, and referred to “open talk in regards of (Cyprus) leaving the euro zone”.

Not very confidence boosting. But then again, with confidence in Cyprus now gone, the time for damage control is long gone. Sure enough, it just goes from bad to worse: Continue reading »

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Mar 20

- Euro: Currency Or Prison? (ZeroHedge, March 20, 2013):

The following Wall Street Journal article deserves to be read in its entirety…

Authored by Vincent Cignarella, originally posted at WSJ Market Beat,

Is The Euro a Currency or a Prison?

Wearing the disguise of austerity, the euro has emerged as the gatekeeper of what is fast becoming a debtors’ prison.

The Troika of the ECB, IMF and European Commission acting in concert have become more like another Troika–of judge, jury and executioner–for any nation within the euro zone that dares not follow the letter of budgetary imposition.

The latest country bound by these handcuffs: Cyprus.

Continue reading »

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Mar 18

By Charles Wyplos
Professor of International Economics, Graduate Institute, Geneva; Director, International Centre for Money and Banking Studies; CEPR Research Fellow

Cyprus: The next blunder (VOX, March 18, 2013):

The Cyprus bailout package contains a tax on bank deposits. This column argues that the tax is a deeply dangerous policy that creates a new situation, more perilous than ever. It is a radical change that potentially undermines a perfectly reasonable deposit guarantee and the euro itself. Historians will one day explore the dark political motives behind this move. Meanwhile, we can only hope that the bad equilibrium that has just been created will not be chosen by anguished depositors in Spain and Italy.

The decision to tax all Cypriot bank deposits has attracted massive attention (Spiegel 2013) – and rightly so. It is a huge blunder: Continue reading »

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Mar 16

If Beppe Grillo is a clown, then we need a circus in every town NOW, …

… hoping to attract more clowns!

Here is why …


The following interview needs to be translated into English ASAP!

Italian with German subtitles:


Added: 05.03.2013

Full interview (only Italian):


Added: 01.02.2013

Italian with English and German subtitles:

- Here Is Why Italy’s Beppe Grillo Is Causing The Power Elite Central Planners To Wet Their Pants (Video):

- Beppe Grillo: ‘Italy Is In Fact Already Out Of The Euro’ (Handelsblatt)

Germany’s Peer Steinbrück (SPD) also called Beppe Grillo a clown.

More on Peer Steinbrück:

- SPD Chancellor Candidate And Bilderberg Peer Steinbrück’s Great-Great-Uncle Was A Cofounder Of Deutsche Bank

- Bilderberg 2011: The Full Official Attendee List

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Mar 13

Must-see:

- Here Is Why Italy’s Beppe Grillo Is Causing The Power Elite Central Planners To Wet Their Pants (Video)



Beppe Grillo leads the protest movement “Five Star”
Beppe Grillo führt die Protestbewegung „Fünf Sterne“ an.

Google translation here:

- Beppe Grillo: “Italy is in fact already out of the Euro”(Handelsblatt, March 13, 2013):

Exclusive: Beppe Grillo, protest leaders and winner of Rome, will take a vote on the future of Italy in the euro zone. He proposes an online referendum on the euro. Also on Mario Monti, he is not speaking well.

Milan. The Italian politician and surprise winner of the last general election, Beppe Grillo, does not believe the fate of Italy in the Euro-zone. “In fact, Italy’s already out of the euro,” said the leader of the party “five stars” in an interview with the Financial Times (Wednesday edition). He believes that the Nordic countries would keep Italy only so long, “until they have taken the pure investment banks in their Italian bonds again. Then they will drop us like a hot potato. ”

Grillo sketched a popular decision on the euro. It has to pass an exit from the euro but “not alone” but would “make an online referendum on the euro.” Just as on the Lisbon Treaty. These are “all issues on which our Constitution was ignored”.

Interview Grillo expected sharply with the current Italian Prime Minister Mario Monti. This was “a bankruptcy trustee on behalf of the banks. Held up at the top earners and cut the state system, he has the people below aufgebrummt higher taxes. ”

Grillo sees itself not as anti-European. “Europe must not be afraid,” he told Reuters in an interview. He asked, however, a strong reversal and “more democracy.” For his party, he takes to claim. “We are the French Revolution – without guillotine” Europe needs a “Plan B,” says the Italian politicians. “We must still ask: What happened to Europe? Why we have no common information policy, no joint tax policy, no common policy of immigration? Why only Germany has enriched? “

Original article:

- Beppe Grillo: „Italien ist de facto schon raus aus dem Euro“ (Handelsblatt, March 13, 2013):

Exklusiv: Beppe Grillo, Protestpolitiker und Wahlsieger von Rom, will über die Zukunft Italiens in der Euro-Zone abstimmen lassen. Er schlägt ein Online-Referendum zum Euro vor. Auch auf Mario Monti ist er nicht gut zu sprechen.

Mailand. Der italienische Politiker und Überraschungssieger der letzten Parlamentswahl, Beppe Grillo, glaubt nicht an den Verbleib Italiens in der Euro-Zone. „De facto ist Italien doch schon aus dem Euro raus“, sagte der Vorsitzende der Partei „Fünf Sterne“ in einem Interview mit dem Handelsblatt (Mittwochausgabe). Er gehe davon aus, dass auch die nordeuropäischen Staaten Italien nur so lange halten würden, „bis sie die Investitionen ihrer Banken in italienische Staatsanleihen wieder reingeholt haben. Dann werden sie uns fallen lassen wie eine heiße Kartoffel“.

Grillo deutete eine Volksentscheidung zum Euro an. Er beschließe einen Austritt aus dem Euro aber „nicht allein“ sondern würde „ein Online-Referendum zum Euro machen“. Genauso wie zum Vertrag von Lissabon. Dies seien „alles Themen, bei denen unsere Verfassung außer Acht gelassen wurde“. Continue reading »

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Mar 10

FYI.


- Jim Rogers: We’re Wiping Out The Savings Class Globally, To Terrible Consequence (Peak Prosperity, March 9, 2013):

Jim Rogers decries the growing uncertainty and recklessness of global central planners as the world enters unchartered financial markets:

For the first time in recorded history, we have nearly every central bank printing money and trying to debase their currency. This has never happened before. How it’s going to work out, I don’t know. It just depends on which one goes down the most and first, and they take turns. When one says a currency is going down, the question is against what? because they are all trying to debase themselves. It’s a peculiar time in world history.

Continue reading »

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Feb 28

- German FinMin Warns “I Never Said The Euro Crisis Was Over” (ZeroHedge, Feb 27, 2013):

Following on the heels of Merkel’s adviser Lars Feld’s comments, German finance minister Schaeuble has raised concerns over the results of the Italian elections. His comment that,“I never said the euro crisis was over,” stands in contrast to the claims of Monti, Draghi, Lagarde, Barroso, and Sarkozy who all have. along with the market’s “doubts that a stable government can be formed,” raises the risk of turmoil spreading to other euro countries. Schaeuble commented further that, “now it is up to those who were elected in Italy on Sunday to form a stable government. The faster they do this, the quicker the uncertainty will be overcome.” The problem, as Reuters reports, appears to be not just Italy’s public dissension over Germany’s demands for austerity but his French counterpart’s comments that “austerity has gone far enough,” to which the German rebuked, “France must also do more here, Hollande knows this and so does Pierre Moscovici.” Tension is certainly rising in the depression-addled union, even as Draghi explains – it’s all ok, he promises.

  • Barroso (The Guardian): “we can say that the existential threat against the euro has essentially been overcome”
  • Monti (Bloomberg): “the euro area crisis is almost over”
  • Draghi (BBC): “the worst is over, the situation is stabilizing”
  • Lagarde (Voice of Russia): “eurozone crisis largely over”
  • Sarkozy (China News): “I think we came out of the financial crisis”

Via Reuters, Continue reading »

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