I fear that the attempts to speed up and deepen integration and to move decisions about the lives of the citizens of the member countries up to the European level can have effects that will endanger all the positive things achieved in Europe in the last half a century. Let us not underestimate the fears of the citizens of many member countries, who are afraid, that their problems are again decided elsewhere and without them, and that their ability to influence these decisions is very limited. So far, the European Union has been successful, partly thanks to the fact that the vote of each member country had the same weight and thus could not be ignored. Let us not allow a situation where the citizens of member countries would live their lives with a resigned feeling that the EU project is not their own; that it is developing differently than they would wish, that they are only forced to accept it. We would very easily and very soon slip back to the times that we hoped belonged to history.
This is closely connected with the question of prosperity. We must say openly that the present economic system of the EU is a system of a suppressed market, a system of a permanently strengthening centrally controlled economy. Although history has more than clearly proven that this is a dead end, we find ourselves walking the same path once again. This results in a constant rise in both the extent of government masterminding and constraining of spontaneity of the market processes. In recent months, this trend has been further reinforced by incorrect interpretation of the causes of the present economic and financial crisis, as if it was caused by free market, while in reality it is just the contrary – caused by political manipulation of the market. It is again necessary to point out to the historical experience of our part of Europe and to the lessons we learned from it.
Many of you certainly know the name of the French economist Frédéric Bastiat and his famous Petition of the Candlemakers, which has become a well-known and canonical reading, illustrating the absurdity of political interventions in the economy. On 14 November 2008 the European Commission approved a real, not a fictitious Bastiat’s Petition of the Candlemakers, and imposed a 66% tariff on candles imported from China. I would have never believed that a 160-year-old essay could become a reality, but it has happened. An inevitable effect of the extensive implementation of such measures in Europe is economic slowdown, if not a complete halt of economic growth. The only solution is liberalisation and deregulation of the European economy.
I KNEW this man would be good!
It seems like the pressure is increasing on a daily basis. Look at this clip from the floor of the NYSE:
The seething anger is leaking out. Soon, the default action will be to say, “No”, and the REALLY angry people will be taking up arms.
It’s about BLOODY TIME.
California is broke.
Kansas is about to go broke.
New York is trying to tax everything under the sun to avoid going broke (it won’t work Mr. Bloomberg).
And in the EU, we read that the Telegraph printed a story about how
European banks may need £16.3 trillion bail-out, EC document warns
Only to immediately delete the story on orders so that bank runs would not be triggered.
Now, as we have been saying, if a bank does not operate a fractional reserve, it doesn’t matter if all the depositors come to get their money out at the same time; the money is actually there, unlike in today’s banks, where the money is NOT there.
Bit I digress a little.
The EU is, with any luck, FINISHED. When the euro collapses it will be the death blow to the EU. Each country is going to go back, re-launch their national currencies, tear up the bogus treaties and enslaving agreements that have made up this bad deal that betrays the hearts of nations and steals from the pockets and spirits of men.
No nation is going to ever again accept this extremely dangerous monetary monoculture. Think about it; why should the Italians suffer the wiping out of all their savings because some Germans made mistakes with the centrally controlled monolithic currency? If you are going to have your hard earned money wiped out, at least let it be by the act of other Italians; then you can string them upside down and shoot them for satisfaction; at least then you have someone to blame.
With the EU president chiseling from the top and all the citizens rioting from the base, the whole structure will fracture and shatter into a quadrillions pieces that will never be put back together again, and any future attempt will not look like the debacle that has been forced upon everyone today.
As for America, they are actively preparing for civil unrest. Google it for yourself. Like I have been saying for many years; if there is one country on earth that can turn itself around from the precipice it is the United STates of America. Only the men of that country have the balls (and the guns) to make the magic happen. I really do hope that they act as an example to the whole world once again. Either way, there is no going back. There is not enough money in the world to pay off the US debt. Europe cannot find the $25 trillion (twice the size of the gross domestic product of European Union) they need to ‘save’ themselves.