By Wolf Richter: “European leaders have not been able to meet their responsibilities,” French Prime Minister Jean-Marc Ayrault said
about Germany and some other countries that are reluctant to pile more
taxpayer money on Greece, whose economy is grinding to a halt, and whose
government, deprived of the flow of bailout funds and cut off from the
financial markets, can no longer fulfill its promises.
And Greeks are leery of new “structural reforms” currently fought
over by the coalition government. They oppose more cuts in salaries,
pensions, and health care. On Wednesday, they will attempt to bring the
economy to a halt with a general strike
and demonstrations in Athens and Thessaloniki. Meanwhile, Germany and
other countries are wondering how Greece can possibly “reform” if the
government can’t agree on the reforms to inflict on its people, and if
the people aren’t willing to suffer them. But Ayrault declared that not
giving Greece more money and time would create “a completely
unmanageable situation."
To his French compatriots, Ayrault defended the Fiscal Union treaty,
which, after having been silenced to death, has come under blistering
attack from the far right and the far left ahead of the
parliamentary debate. They’re clamoring for a referendum, something the
government wants to avoid at all costs—the people might well kill it, as
they’d killed the European Constitution in the referendum of 2005
[read.... A French Rebellion Against Unelected Bureaucrats: “European Coup D’Etat And Rape Of Democracy”].
“This treaty doesn’t damage the budgetary sovereignty of parliament,”
he said. “There is no transfer of sovereignty.” THE issue with that
treaty. Even the German Constitutional Court acknowledged
that it transferred sovereignty to the European Union.
Telling the truth has become a revolutionary act, so let us salute those who disclose the necessary facts.
26 Sept 2012
Molotov Cocktails: 'Greece remedy tortures people more than disease'
Jim Willie: Death Knells for the USDollar
By Jim Willie: The recent decision by the US Federal Reserve to contaminate the financial body until it responds favorably was the last straw in my book. Witness
a declaration of permanent QE and hyper monetary inflation of the most
virulent strain, unsterilized. The USFed is essentially admitting
failure.
The signal serves as the loudest death knell for the USDollar among many in a sequence. The QE bond monetization of USGovt debt has turned viral and entrenched. It is sold as stimulus, when in fact it acts like a giant wet blanket on the USEconomy. It is intended as stimulus to businesses, but the effect is felt on the financial speculation and on Asian direct business investment. In the past the emergency lever device had been successful only because it was used on a temporary basis. But now the USFed high priest assures it is a permanent fixture, a sign of their failure.
The money is not finding its way into the USEconomy for further circulation. The plague is insolvency, soaked by endless applications of tainted money from central bank fire hoses.
GOLD PRICE READY TO EXPLODE UPWARD
The signal serves as the loudest death knell for the USDollar among many in a sequence. The QE bond monetization of USGovt debt has turned viral and entrenched. It is sold as stimulus, when in fact it acts like a giant wet blanket on the USEconomy. It is intended as stimulus to businesses, but the effect is felt on the financial speculation and on Asian direct business investment. In the past the emergency lever device had been successful only because it was used on a temporary basis. But now the USFed high priest assures it is a permanent fixture, a sign of their failure.
The money is not finding its way into the USEconomy for further circulation. The plague is insolvency, soaked by endless applications of tainted money from central bank fire hoses.
GOLD PRICE READY TO EXPLODE UPWARD
Ahmadinejad addresses UN General Assembly
Damascus in Martial Law Lock Down Curfew - Telephone Report
No one is allowed to leave their house in Damascus - No One At All! No one in the public really knows the details of the explosions, yet. Source
RUSSIAN NK630 BAN: French researchers used cancer-prone rats…
….but Russia suspects Monsanto’s monopolist motives
Just as with the global warming debate, neither side on GM is entirely good, bad or indifferent
The Slog: Even if we lack solid research to
suggest serious health dangers in the growing use of GM crops, the
long-term monopolistic and controlling aims of Monsanto remain a very
real and present danger. Sources suggest this may be uppermost in the
mind of Russian officials who yesterday halted the use of the Monsanto
NK630 wheat strain in their country. If we have good reason to question
the anti-NK630 research conducted by Gilles-Eric Seralini, we have even
more obvious reasons to suspect the long-term motives of Monsanto.
Further to The Slog’s earlier post about Russia putting a stop on further use of
the genetically modified ‘Roundup Ready’ wheat strain NK630, more
skullduggery is coming to light by the hour. It seems that in 2012,
there are liars, damned liars, and advocates.
1. Monsanto seems to be implicated in
spreading disinformation about the sample size of the French labrat
research. Although there were doubts suggesting that ‘the control
sample’ of non-NK630 fed rats was only ten strong, in fact (a) the study
looked at 200 rats, and (b) the duration of the study – two years – was
far longer than any previous research.
Several Exponential Charts - ZeroHedge
Submitted by Tyler Durden: We'll let the charts do the talking this time.
Consolidated "developed world" relative devaluation...Fascist Israel Lobbyist - We Need a False Flag to Start War with Iran!
Quantitative Easing Did Not Work For The Weimar Republic Either
The Economic Collapse: Did
printing vast quantities of money work for the Weimar Republic? Nope.
And it won't work for us either. If printing money was the secret to
economic success, we could just print up a trillion dollars for every
American and be done with it. The truth is that making everyone in
America a trillionaire would not mean that we would all suddenly be
wealthy. There would be the same amount of "real wealth" in our economy
as before. But what it would do is render our currency meaningless and
totally destroy faith in our financial system. Sadly, we have not
learned the lessons that history has tried to teach us. Back in April
1919, it took 12 German marks to get 1 U.S. dollar. By December 1923,
it took approximately 4 trillion German marks to get 1 U.S. dollar. So
was the Weimar Republic better off after all of the "quantitative
easing" that they did or worse off? Of course they were worse off.
They destroyed their currency and wrecked all confidence in their
financial system. There was an old joke that if you left a wheelbarrow
full of money sitting around in the Weimar Republic that thieves would
take the wheelbarrow and they would leave the money behind. Will things
eventually get that bad in the United States someday?
Of course we are not going to see hyperinflation in the U.S. this week or this month.
But don't think that it will never happen.
The people of Germany never thought that it would happen to them, but it did.
The following is an excerpt from a Wikipedia article about the Weimar Republic. Take note of the similarities between what the Weimar Republic experienced and what we are going through today....
Of course we are not going to see hyperinflation in the U.S. this week or this month.
But don't think that it will never happen.
The people of Germany never thought that it would happen to them, but it did.
The following is an excerpt from a Wikipedia article about the Weimar Republic. Take note of the similarities between what the Weimar Republic experienced and what we are going through today....