Socio-Economics History Blog

Socio-Economics & History Commentary

Illuminati: The Hidden Agenda for World Government!

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February 15, 2010 Posted by | GeoPolitics, History | , , , , | 21 Comments

Western Banksters Financed Hitler’s Nazi Empire!

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February 15, 2010 Posted by | Economics, GeoPolitics, History | , , , , | 1 Comment

Obama: Change You’ll Never Expect !

February 15, 2010 Posted by | GeoPolitics | , | Comments Off

French Banking Chief: Collapse of The Euro Is ‘Inevitable’! Bailing Out The Greek Economy Futile!

  • The writing is on the wall. Damn if they do, damn if they don’t! The bailouts will not end with Greece. Greece will also need a few bailouts I am sure. If you reign in government spending, it means accelerating economic collapse. Tax revenues will crumple. If they choose the bailout route, it will only delay the inevitable, maybe by 6-12 months. The Euro will rupture eventually. There are many Wall Street vultures circling and they are waiting for the go ahead to attack the rest of the PIIGS ! Jim Sinclair writes :
     
    ‘…..  many are ignoring the organized and strategized attack now on Greece as the prelude to an attack on Spain, Italy, Ireland, Portugal and then major debts. The US stands third in the line of weak structures, debt to GDP, and will come under attack by the ever-increasing wealth of the bear raiders via the CDS OTC derivative market.
     
    Iceland, the weakest of all, was taken down. Now the target is Greece. Just as Europe fell to the Nazis, so might it to the Blitzkrieg by financial entities. …. ‘
     
  • The financial war has begun. The banksters want to get filthy rich by destroying countries and eventually drive us to war. The Daily Mail UK reports on the Euro and Greece situation:
      
    The European single currency is facing an ‘inevitable break-up’ a leading French bank claimed yesterday. Strategists at Paris-based Société Générale said that any bailout of the stricken Greek economy would only provide ’sticking plasters’ to cover the deep- seated flaws in the eurozone bloc. The stark warning came as the euro slipped further on the currency markets and dire growth figures raised the prospect of a ‘double-dip’ recession in the embattled zone
     
    Claims that the euro could be headed for total collapse are particularly striking when they come from one of the oldest and largest banks in France – a core founder-member.
     
    In a note to investors, SocGen strategist Albert Edwards said: ‘My own view is that there is little “help” that can be offered by the other eurozone nations other than temporary, confidence-giving “sticking plasters” before the ultimate denouement: the break-up of the eurozone.’ 
      
    He added: ‘Any “help” given to Greece merely delays the inevitable break-up of the eurozone.’ The alarming claim came a day after European Union leaders promised ‘determined and co-ordinated’ action to shore up Greece’s tattered public finances, but disappointed traders by failing to provide specifics. Further details are expected early next week, but markets were in high anxiety yesterday amid fears political divisions among rich eurozone members could derail any rescue.
        …….
    The French bank’s warning was echoed by Mats Persson, Director of the Open Europe think-tank, which campaigns for reforms in Brussels. He said: ‘The eurozone is facing a fully-fledged crisis. The Greece episode has made it painfully clear how flawed the euro project was from the very beginning. ‘Even if Greece receives a one-off bailout it would not solve the real problem, which is the huge differences in competitiveness between the eurozone’s richest and poorest members.
      
    ‘If these differences are to be evened out, the EU would need a single budget and common taxes so it can redistribute resources. ….. Mr Edwards argued that Portugal, Ireland, Greece and Spain are too economically weak to withstand the rigours of eurozone membership. Countries that are highly uncompetitive are normally able to slash interest rates and devalue their currencies to prop up their economies.
     
    But this is not possible within the euro, given its one-size-fits-all economic governance. The implication is that weak, peripheral eurozone members will have to suffer years of painful deflation and tumbling living standards, as well as draconian budget cuts, in order to adjust.
     
    Harvard University Professor Martin Feldstein, a long-standing sceptic on the euro, yesterday said the single currency ‘isn’t working’ because member governments have no incentive to keep their public debts under control. ‘There’s too much incentive for countries to run up big deficits as there’s no feedback until a crisis,’ he said.

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February 15, 2010 Posted by | Economics, GeoPolitics | , , , , , , , , , , | 1 Comment

   

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