End game for Europe

Last week the European Central Bank (ECB) made the decision to purchase unlimited government bonds in the secondary markets. Of course the European Commission and the International Monetary Fund (IMF) will play a significant role in this bail out. This is being touted as a godsend as Spain is now the next European country to come calling with hat in hand. Make no mistake here, the ECB, European Commission and the IMF are picking up where Hitler left off. There is a massive loss of sovereign freedom that accompanies each bailout. This epitomizes the phrase, “Making a Deal With the Devil.” With each forced bailout comes a list of conditions and rules that must be adhered to, such as austerity for the people and a free ride for governments and banks. Take a look at the history of the IMF. There is not one country that is better off after receiving an IMF bailout.

The IMF, which is essentially the US Federal Reserve, lends money to countries and then dictates economic policy in that country, such that it makes it impossible to pay off the loan. Well, this sounds counterintuitive doesn’t it? I don’t remember taking any finance classes that advocated investing in entities that have no hope in hell of repaying the debt. Here’s the rub; the IMF never expects, and ensures that it doesn’t get paid back. Why, you ask? Once you own the debt, you essentially own the country. The lender covertly dictates monetary, fiscal and military policy. The IMF essentially prints money out of thin air and in return purchases an entire country. A massive funneling of power and freedom is being channeled away from the sovereign countries of Europe, and being redirected into the hands of a few. It is unbelievable what is presently taking place in Europe. History books will be filled with this atrocity. Hitler had it all wrong. It doesn’t take bullets and bombs; you just need a phony world reserve currency, an organized crash of financial markets and a lender of worthless money.

Of course this commitment to purchase unlimited European government bonds means the printing presses that are already working at maximum capacity will be cranked up even more. Now the rest of the world’s central banks will see massive amounts of euros hitting the market, which in turn will increase the value of the other global currencies. As we know from previous articles, we are in the midst of a global currency war. An increased supply of euros will result in subsequent increasing values of other global currencies. The central banks around the world don’t want that, so they too will crank up their already overworked printing presses. This could very well be the beginning of the end for paper currencies.

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This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.