Another Financial Shoe Drops…

Rocky Road AheadWe continue to point to the visible collapse of the world’s finances with this, our third in the ongoing series. South American monkeyshines–Argentina’s supermarket price freeze and Venezuela’s devaluation–were the first shoes to drop, followed by the German slowdown that put paid to E.U. hopes of hanging the rest of the E.U. around Germany’s neck.

No. 3 has lit the road ahead from tiny but significant Cyprus: Evidence that the E.U. continues to unzip. Signals On The Road To Ruin #3 explains that Cyprus, to gain the E.U. bank bailout its own policies and those of big neighbor Greece have forced into being, must now rob its citizens of about ten percent of everything they have saved in their banks. The President of Cyprus is defending this as the best of bad choices; Least Painful Option will explain his pitch. You can believe that he wants the money…

This is the first visible and undeniable financial suffering inflicted directly on citizens in the name of the financial crisis aside from general ‘austerity’ or less government spending. The protests are rising as word gets out and it may not fly but Cypriots will be increasingly poorer as time passes, one way or another and its getting harder to hide that. This has removed plausible deniability from the Europols.

The final nail in this bit of the Eurocoffin comes from the International Monetary Fund (IMF), another unintended admission of truth, I think. IMF Report  explains for you. The key is the Eurocrats have apparently decided to use the crashing financial system to impose their power grab on the Eurozone. The Eurobankers want financial control of the Euro without having to defer to the various Eurozone governments or such annoyances as elections. In the U.S. imagine forgetting Congress, the President or the Supreme Court, just hand control of the economy to the Fed. A big joker in this is that the Eurocrats, given the power they seek, won’t be able to hold off the coming calamity. But they won’t care; they’ll have what they want with none to remove them.

So the world’s march along the Road to Ruin proceeds. Stay tuned; before this is done, it will be playing in your neighborhood…

About Jack Curtis

Suspicious of government, doubtful of economics, fond of figure skating (but the off-ice part, not so much) Couple of degrees in government, a few medals in figure skating; just reading and suspicion for economics ...
This entry was posted in Bank Failure, Banks, Debt, Depression, E.U., Europe, Fiscal/Financial Responsibility, Overspending and tagged , , , , , . Bookmark the permalink.

5 Responses to Another Financial Shoe Drops…

  1. the unit says:

    Are we headed to a system of world slavery? A few masters, lots of slaves. With the slaves voting for it. I read more and more comments that there should be no profit in healthcare. Send your slave for medical training, then bet your life on it. Ok?
    And the Cyprus thing is means testing. You got certain amount you pay 10%. Lesser amount, I think I read 6.7. Of course on top of heavy Euro taxes.
    Yes, just wait. We’ll see it here.

    • Jack Curtis says:

      Well, history says you’re right; lots of workers holding up a few powerful wealthy is the human pattern, true enough. And most of the few exceptions seem to be reverting to that. I suppose, a lot will depend upon whether the coming economic disruption strengthens or weakens government. On that, no bets from me…

  2. It already has. Reminds me of the scene in “The Hitch-hikers Guide to the Galaxy” where the bull that has been genetically modified to be happy to give up its life to provide steaks for others says – I’ll just go out and shoot myself”.

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