Sunday, 27 May 2012

I am back!

So what did I miss....?

Quite a lot it seems. There was yet another bank bailout in Spain, while Greece hurtles towards a total meltdown.

Meltdown has become an overused word, but in the case of Greece we may be about to see something we haven't seen since 1917. A European country is about to have a Bolshevik revolution.

This horrifying vista before us is due to the utterly misguided idea that Europe needed a single currency. Instead of promoting European Union, it has brought division, poverty and stagnation.

Unfortunately, there is no explicit mechanism for leaving the Euro. Everyone is making it up as they go along. Nevertheless, it must be obvious to everyone that the currency union needs to break up. At a minimum, at least half a dozen euro members need to leave and reintroduce their own currencies.

The sensible thing to do would be to hold a weekend Euro summit and announce the break-up of the Euro. A subset of countries would announce their departure as of midnight Sunday. Bank deposits would be converted into national currencies. Euro banknotes would remain liabilities of the ECB.

Banks would remain closed for a week. Capital controls would be introduced in those countries departing the Euro. There would be panic, and possibly some rioting. Governments would fall and new ones will be elected. European GDP will fall, unemployment will rise and there might even be a little hyper-inflation. However, one could hardly expect anything else at this late stage.

The main thing is do it soon, and do it quickly.


Stevie b. said...

Alice - welcome back! Don't you think
we'll have capital controls if/as/when Ed go-for-broke Balls becomes Chancellor?

Mark Wadsworth said...

That's the point isn't it? Leaving the Euro would have to be done overnight and without prior announcement, we'll wake up one morning and it will have just happened. That might be tomorrow, it might be any Monday morning, we won't know until we know.

Bill Quango MP said...

Wait for the 'extra holiday of European celebration day'
That'll be a sign.

Sackerson said...

Back: huzzah! Where on Earth have you been?

oldgit said...

Welcome back.

I suggest it would be easier for Germany and a few strong friends to exit from the Euro and create a super Euro. You don't have problems with capital flight as you just need to stop it coming in for a few weeks while you allow currency exchange rates to settle and then you can accept capital into the new higher valued euro.

Job done.

theyenguy said...

Thanks for the well written article.

Greece is headed toward financial meltdown. The sensible thing to do, would, be to hold a weekend Euro summit and proceed with disolution of the EU.

Yet, the Sovereign Lord God, Ephesians 1:1-23 and 2 Corinthians 5:17-18, from eternity past, has had a different plan for mankind's future, where one can look in Revelation 6:1-2, and see that He has released the rider on the white horse, with a bow, but no arrows to effect global political and economic coup d etat, with the eventual aim of introducing the Kingdom of His Son, Jesus, the Christ, Revelation 2:26-27.

The first Horseman of the Apocalypse is passing the baton of sovereignty from nation states such as Greece to sovereign leaders such as Angela Merkel and the Troka.

Out of Greece's meltdown, ss well as a global credit collapse and financial breakdown, Revelation 13:3, a One Euro Government, that is a Europoean federal super state with unified political, economic, monetary, and fiscal authority will emerge, as leaders meet in regional summits to wavie national sovereignty and pool sovereignty regionally.

Not by any human action, but rather through fate, Revelation 1:1, inflationism is turning the dynamos of global economics to destructionsism, with the result that regional economic and political blocs are forming as prophesied by the Apostle John, where he wrote in Revelation 13:1-4, the Beast regime of Neoauthoritarianism, with its seven heads symbolic of its domination mankind’s seven institutions, and ten horns symbolic of its rule in the world’s ten regions, rises from the profligate nation-state of Greece, to replace the Banker of Neoliberalism.

This monster of totalitarianism, statism, and debt servitude, is the ten toed kingdom prophesied in Daniel 2:30-33, where ten toes of regional governance coalesce from a miry mixture of iron diktat and clay democracy. These being non compatible building materials will eventually crumble, and a one world government, and a global dictator will arise, who will overthrow three global leaders, Daniel 7:7-8.

For further reading please consider

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