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Financier George Soros says the EU needs euro bonds to emerge from its debt crisis. Do you agree?
The austerity that Germany wants to impose will push Europe into a deflationary debt spiral," Mr. Soros warned, adding that the political disintegration of the European Union will inevitably follow if the economy does spiral out of control. "Structural reforms alone will not do it," Mr. Soros said. "There will have to be fiscal stimulus and that fiscal stimulus will have to come from the EU, jointly and severally guaranteed by the member states. Euro bonds are needed in one form or another." What do you think?
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It solves nothing, just kicks the can down the road a bit, makes the problem worse as there is no addressing what caused the crisis, and finally just gets investors who bought this junk off the hook.
2 Recommendations
Buyer beware.
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The Griffin; "The Creature from Jekyll Island", his book on the Fed... the Fed was created on Jekyll Island in 1910... all well and good. His seven points about the Fed basicly say get rid of it, it is a "cartel" that is" not in the best interests of the American people". However, having been a "internal auditor" in a past life I think audit reports if done correctly, and reports written succinctly can pose the question "should the Fed continue to exist"? based on what it is accomplishing? However,it takes political action to make it happen. That is the difficult part. Like the "starlings" ideas and reports can only point to a problem that needs to be fixed as the political weather changes the report and ideas are often lost, due to lack of interest! At this time in history the Fed is seen as a way to manage debt...while the Euro managers want to use the IMF to achieve the same objectives the Fed has here in the US.
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Mike wonderful - audits and scientific white papers litter the world. It takes men of courage to go against the political centre of gravity and explain their meaning, most of these are buried in hyperbole. I know your life experience tells you this is true. Both of us don't see many with the 'grit' to make people aware of the true picture. Do we? Not to mention the problem with that expat Murdoch steering the media, it is not looking good. There is the freedom in media of the WWW on the internet. But aren't Murdoch and his colleagues trying desperately to censor that too?
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With a simple two party system, the cartel, plus their cronies can keep you all in line, and by default influence the world. It will take awareness just like in the 1920 in the US to alter history.
Prove me wrong, or right and spread the word either way. The sheer brilliance of these undeniable facts is, they are in plain view, and there is no coverup.
Interestingly, there was no mention of the Basel Accord in your reply.
This committee of European Central Bankers set the cash security rules and made sure Banks recalled loans to cover the new cash deficit of security. Enforcing US Banking changes in July 2008. Which in turn meant any loans on less than solid ground; e.g LOW DOC fell over.
The fallout from the US crash in 2008, simply smoke screened the original cause.
Very good strategy, and completely consistant with the cartels mode of operation.
http://en.wikipedia.org/wiki/Basel_Committee_on_Banking_Supervision
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Mikes Comment - "Fed is seen as a way to manage debt...while the Euro managers want to use the IMF"
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That's because they aren't Cartel Members. Europe is well aware, of the Cartel. As the IMF hold international agreements with countries on monetary systems and aid packages etc.etc. Unlike the Reserves and wider the Reserve Banking System or Banking Cartel. There motivation is not profit, but benefit.
After all the International Monetary Fund works primarily as data dissemination facility, with consultation and use of their economic and financial data. Given freely to Governments / the public, acting as independent adviser with countries. Facilitating agreements for monetary exchange and equity. Liaison, benefit to signatories [countries welfare] being their driver.
Why would the [global] Banking Reserve System, the Banks want that? They are a Cartel?
The IMF is closer to an umpire in this game, than a player.
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Since Soros is suggesting this move, I would assume he has something devious and underhanded in the works that would allow him to take advantage of Europe's financial crisis. Collapsing currencies and profiting from them has been his M.O.
5 Recommendations
I'm suspicious that he has another motive, as usual.
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Not sure why Germany, the Netherlands and other conscientious countries should take on the risk of Eurobonds for profligate countries. Perhaps Mr. Soros is worried about his Greek investments? It seems that the recent conferences and talk served one purpose only: delay the Greek default long enough to put procedures in place so that the default becomes more orderly than disorderly. My guess is that one Friday afternoon after the banks close, the Greeks will default and use these procedures to make the cut and conversion to the new drachma as quickly and cleanly as possible.
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I do not trust Mr. Soros' advice
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"..... the elephant in the room" or "Emperor has no Clothes" Analogy is there, it's part of the human condition, we will lie to ourselves and others about reality. The Asch conformity experiments published in the 1950s demonstrated the power of group conformity or the "Asch Paradigm"
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http://youtu.be/iRh5qy09nNw
This is the worlds greatest challenge, human knowledge is advancing faster than the various value systems can cope. Our biggest challenge at present is preserving this freedom you and I have that is uncensored internet. Those holding power know how powerful knowledge is, the awareness brought about by the press is simply not possible today, as the media and banks are "friends with benefits".
The freedom of the internet needs to be preserved, we all need to ignore these flea bites to motion picture corporations or military leaks and look at the overview. Amazing information decimation worldwide in an instant, with awareness this is unstoppable.
Just the ability to see Soros's point of view instantly is amazing. Worth preserving.
Anyway I am stepping of the soapbox and thought you might like one of the most amazing energy stories of the last 100 years.
I know the US media have underreported this ddevice, and that is not surprising considering how much money is tied to energy there. So I am passing it on, I have followed it up and as far as four months of personal research is concerned - it looks genuine. Don't believe me though, due diligence is yours. : )
http://www.e-catworld.com/what-is-the-e-cat/
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Soros, like many others at DAVOS all support the Euro, which I think should be ceased and desisted. The DAVOS crew support the EU staying together, which I think it should dissolve and all sovereigns restore their fiscal revenues using at least again, tariffs. DAVOS participants support G20 Agreements, which I urge also dissolving and if the US doesn't repeal compliance with it, then the G20 dissolve so that the US doesn't have to keep self-immolating, and collapsing our economy, de-industrializing to suit the Germans under the G20 Agreements - ie, US compliance with this bogus multilateral agreement.
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So Soros doesnt get booted from Davos events; meanwhile not another dime should be spent to advantage or benefit the Germans and the EU issuing bonds to help the economies the Germans have lusted to have fiscal power and control over since at least re-unification, but probably since the military part of WW2 ended.
Regardless, unless Germany is pushed back, and all of these DAVOS types like Soros begin to respect these other European sovereigns and their respective sovereignty rather than being vassel states of the Germans, with Soros et al calling for the dissolving of the EU, the EURO the G20 and tariffs be restored, then Dr Soros and his clique all just lackyies and p*sper-shamers to the germans with NOTHING affective to deal with that bund bullying and sleazy underhanded commercial tactics against all those countries.
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