Skip to main content

Αlea jacta est by the “emperor” Draghi

by system failure

The official declaration of the European hegemony of “bankcracy” with the signature of Mario Draghi, is now a fact. The European Central Bank, ECB, becomes the absolute dominant, through the unlimited purchase of government bonds in eurozone, and the Frankfurt bankers are preparing for their biggest party so far. As expected, the bank-occupied media rushed – once again – to crow.

In essence, the decision means that Europe passes into a hastily, coercive federalization, in terms that serve exclusively the destructive neoliberalism. The ECB is converted into an equivalent European Fed, which means, gaining complete control of the money flow through the whole eurozone.

The supposed Federal Central Bank of the US (Federal Reserve or briefly Fed), controls completely the monetary policy and the money flow in the country, while being under control of large private banks. It is characteristic, that one of the largest lenders of the US government is Fed, which holds a significant share of public debt. The debt of the Federal Government to Fed, is due to quantitative easing policies, i.e. mainly, printing new money.

Similarly, the ECB becomes a corresponding Fed in the European area, “serving” the problematic economies that are excluded from the bond markets, through the print of new money. Therefore, the problematic economies will be loaded with more and more debt which the ECB, i.e. the largest private European banks will hold.

Someone could argue that is not something new, since nations were facing huge debts in previous years, because they were indebted to banks through the excessive borrowing from the markets. But in this case, there is an important difference that makes things much worse: it is the cruel conditions imposed by the ECB to states that need to buy money. States that are excluded from markets, are now trapped within the neoliberal economic empire of the eurozone and will be forced to follow new austerity measures every time they need ECB to buy their bonds.

The media rushed also to present as “good news” the fact that the interest rate on 10-year Spanish bonds dropped below 6%, and the corresponding Italian (5.38%), while Ireland, being forced to accept the Memorandum, borrows at 5.85%. If we take a look at recent past, we will see many cases where markets were booming for a while and then dropping fast, playing with the economies of entire countries and serving speculation. Considering that there are channels which connect the rating agencies, the biggest banks and some hedge funds, the markets can function tuned, to serve specific speculative interests, or to blackmail towards specific policy decisions.

Thus, we should expect a new attack quite soon against the spreads of Spain and Italy, forcing these countries to turn to ECB permanently as the exclusive source of funding, which means that they will adopt new austerity measures and further dismantling of the social state and labor rights, as required by the banks and multinational cartels and as it happens again and again in Greece. Then, we should expect quite soon, a new organized attack in the heart of eurozone, in France, which facing problems already, leading to a definite and irreversible path of the preferable to the neoliberal doctrine conditions. The political union of Europe will be directed violently, but not under the humanitarian values that has invented and bequeathed, and which is ready to sacrifice on the altar of economic indexes, just to keep alive a failed economic model that only serves banks and speculative interests and eliminate the majority of citizens.

Therefore, the Draghi decision also means, the official surrender of the political institutions of the EU to the financial control mechanisms, such as the ECB and the European Financial Stability Fund, EFSF. The embarrassment that the decision caused through all levels of the German political scene is characteristic, and German politicians appeared to be found against pre-decided facts, although, it is clear that the political power was already co-ordinated with the German, mainly, banking interests and this is something that also comes from the Schaeuble statements, who appeared to be satisfied with the decision.

Specifically regarding Greece, the decision means the definite death of the only alternative that has left, i.e., the return to national currency, which some “heretics” dare – against the banking interests and the common propaganda of destruction – to propose, which means, repeated measures of internal devaluation, i.e., the same disastrous recipe of austerity measures and cuts. An internal devaluation, which will concern, of course, only cuts in wages and pensions and not prices of food, fuel and energy, which will be controlled increasingly by several cartels, in the name of the competition and the free market.

Unfortunately, the words of the British politician Nigel Farage, in a speech in the European Parliament, appear to be verified creepily: “Poor Greece, trapped inside the economic prison of the euro. Poor Greece, trapped inside the modern day Völkerkerker for which it appears there is no way out...”. Soon, the nightmare will be common for all the European people, unless they react dynamically and massively and show that they don't want a Europe of banking and speculative interests, but a Europe of humanitarian values which bequeathed to the world. A Europe, which has a sacred duty to preserve and enhance these humanitarian values, not to sacrifice them on the altar of economic indexes.

Comments

Popular posts from this blog

In another bizarre moment, CNN suffers from a real-journalism crisis and exposes the US war crimes in Yemen ... again!

It’s almost like watching The Twilight Zone!
globinfo freexchange
When the corporate media finally decided to dedicate some of their 'precious' time to focus on the war crimes in Yemen, we thought that it was just a smokescreen. The 'unexplained phenomenon' happened after the unimaginable war-crime in which a school bus was bombed by the Saudi coalition, fully supported by the US.
The global condemnation was so loud that the corporate media couldn't avoid it. They had to speak about it. However, we were right. It was just a small parenthesis away from the common agenda. The US-Saudi coalition war crimes in Yemen continue at the same rate, but the corporate media continue to act like if the war doesn't even exist.
Yet, surprisingly enough, we had an unexpected exception to this corporate media norm. CNN decided to return to the issue and condemn the US involvement in Yemen!
In the following video, Kyle Kulinski was also surprised by the fact that CNN covered again th…

Jeremy Corbyn: 'We are in touch with Bernie Sanders and his campaign'

globinfo freexchange
Jeremy Corbyn and Yanis Varoufakis had an interesting conversation in August 20, at the Edinburgh Book Festival. Varoufakis challenged Corbyn to lead an international progressive movement that will end the brutal policies of the dominant neoliberalism.
Interesting parts of the dialogue:
JC: We saw the way in which the European Central Bank treated yourselves and also the austerity that was imposed on Ireland on Portugal and Spain.
YV: It's not just a state. They committed a crime against the Irish people. The head of the Central Bank of Europe put a gun on the Irish Prime Minister's head and demanded that overnight the losses of private investors, mostly from Germany, should be transferred on to the books of the Irish state and the Irish Prime Minister's account. Now, that's, you know, robbery, just daylight robbery. That's what they did.
JC: I actually challenged the whole Maastricht idea, which established the European Central Bank, because it wa…

Τελευταία ευκαιρία για Grexit ... πριν αναλάβει ο Κούλης

globinfo freexchange
Η τελευταία κερδοσκοπική επίθεση κατά του τραπεζικού συστήματος δείχνει ότι ακόμα και όταν υποκύπτεις σε ότι ζητάει η διεθνής χρηματοπιστωτική μαφία, δεν είναι αρκετό.
Το ότι θα δικαιωνόμασταν για άλλη μια φορά και μάλιστα τόσο γρήγορα, πραγματικά δεν το περιμέναμε.
Μετά την υποτιθέμενη έξοδο από τα μνημόνια και το περίφημο διάγγελμα Τσίπρα είχαμε γράψει πως οι μετριοπαθείς 'Αριστεροί' προσπαθούν να μας πείσουν ότι τώρα η χώρα θα έχει περισσότερη ελευθερία να χαράξει τις δικές της πολιτικές. Δηλαδή, η χρεοκοπημένη Ελλάδα (που βρίσκεται σε χειρότερη κατάσταση απ'ότι όταν μπήκε στο πρόγραμμα διάσωσης), θα κολυμπήσει ξεβράκωτη στα ίδια νερά με τους καρχαρίες των αγορών και θα επιβιώσει. Αυτό πάνω-κάτω μας λένε.
Πράγματι λοιπόν, μετά από περίπου ενάμισι μήνα, ένα από τα βασικά εργαλεία του μηχανισμού της διεθνούς χρηματοπιστωτικής μαφίας (το Bloomberg), αποφάσισε να εξαπολύσει επίθεση κατά του τραπεζικού συστήματος και ο πανικός δεν άργησε να εξαπλωθεί. Όπω…

How Bezos tricked Bernie and workers

globinfo freexchange
The truth is that Bernie Sanders fought, and still fights for the workers more than any elected US president combined for decades. And his crusade against Amazon and Jeff Bezos' enormous greed resulted in the unprecedented decision of the company to raise minimum wage to $15 an hour.
But it was too good to be true.
As Bloomberg reported:
           Amazon.com Inc. is eliminating monthly bonuses and stock awards for warehouse workers and other hourly employees after the company pledged this week to raise pay to at least $15 an hour. Warehouse workers for the e-commerce giant in the U.S. were eligible in the past for monthly bonuses that could total hundreds of dollars per month as well as stock awards, said two people familiar with Amazon’s pay policies. The company informed those employees Wednesday that it’s eliminating both of those compensation categories to help pay for the raises, the people said.


As a pure product of the neoliberal culture, Bezos found the op…

The Podesta emails - top US plutocracy group attempted to approach Hillary Clinton under newly elected chairman Jeff Bezos

WikiLeaks series on deals involving Hillary Clinton campaign Chairman John Podesta. Mr Podesta is a long-term associate of the Clintons and was President Bill Clinton's Chief of Staff from 1998 until 2001. Mr Podesta also owns the Podesta Group with his brother Tony, a major lobbying firm and is the Chair of the Center for American Progress (CAP), a Washington DC-based think tank.
globinfo freexchange
An email by a Business Council* representative to John Podesta was expressing the desire of the group to 'approach' Hillary Clinton.
The email was sent nearly two years before the 2016 presidential election at the time where Jeff Bezos was the newly elected president of the group. Also, according to the email, the group consisted of more than 120 "of the biggest CEO's in the US.", meaning, the elite of the American plutocracy.
According to the email, the group was interested for a speech by Hillary Clinton in their meeting, but also, for some informal contacts of he…

This is the real EU ...

failed evolution
When the European Parliament voted recently to sanction Hungary for neglecting norms on democracy, civil rights and corruption, we wrote:
This is the Union that exhibited some "humanitarian sensitivity" by packing thousands of refugees in Greek islands under inhuman conditions and paid Turkey to keep them in its soil. And now, these hypocrites want to punish Hungary for neglecting norms on democracy, civil rights and corruption!
We were right.
According to a recent article by the NY Times:
There is growing acrimony — and now an investigation — over why the camp [Moria on the Greek island of Lesbos] is so bad when so much money has been provided by the European Union to help improve the Greek asylum system since migration levels started to rise in 2014.
[...]
Aid groups have been warning of a need for expanded facilities for several years, however. For some, the failure to improve the camp and hasten the asylum process suggests neglect on the…

Alexandria Ocasio-Cortez - neoliberal establishment 0-3 ... so far

globinfo freexchange
More than a month ago, we identified an immediate mobilization of the establishment machine to push progressives into the establishment lines after the 'shocking' victory of Alexandria Ocasio-Cortez.
Under the fierce pressure of the corporate media, Cortez was essentially forced to declare loyalty to Nancy Pelosi. That was a first, significant victory of the establishment against Cortez and the progressive movement.
After that, we saw an unexplained and bizarre contribution of both Bernie Sanders and Ocasio-Cortez to the establishment pro-McCain 'litanies'. In this totally unnecessary self-recruitment for the McCain's legacy whitewash operation, Cortez retreated unconditionally and the establishment marked a second victory against her.
Now, the establishment 'scored' one more time, as Cortez was forced to endorse establishment's agent, Andrew Cuomo.


We mentioned already that corporate media will focus mainly on pushing progressives to b…

Rapid drop of the recruitment rates may accelerate hyper-automation and privatization of the US army

globinfo freexchange
Younger generations have been 'trained' by the dominant culture to act in more 'pragmatic' terms in the arena of a brutal economic cynicism. As the fight for a place in this system becomes harder and harder, more and more people are being left out of the game. More and more of the them struggle to survive.
Despite these perfect conditions for the US empire components to exploit the growing numbers of the 'brigades of the poor’, not everything went well for the empire.
After 9/11 disaster, the Internet, the WikiLeaks, the alternative sources of information, the whistleblowers and the powerful combination of all these, brought some unprecedented changes. They managed to destroy the deceptive facade of the US deep state narratives, propagated through the corporate media.
With all the big lies, war crimes, war propaganda exposed to great extent, millennials and new generations are not easy targets for "war on terror"-type narratives.
As a con…

Financial crises: a tool for the banking cartels to become more powerful

globinfo freexchange
Ten years after the last financial meltdown, very few spotted and mentioned (even until today) an astonishing admission by the Financial Crisis Inquiry Commission (FCIC).
In the conclusions on chapter 20 of the report, the Commission implies that trillions (with a T) of taxpayer dollars were mobilized to stabilize the system.
Yet, perhaps the most astonishing conclusion that drawn very little attention, lies in the last sentence in which the Commission actually confirms that the financial sector is even more concentrated in the hands of very few powerful institutions:
A series of actions, inactions, and misjudgments left the country with stark and painful alternatives—either risk the total collapse of our financial system or spend trillions of taxpayer dollars to stabilize the system and prevent catastrophic damage to the economy. In the process, the government rescued a number of fi- nancial institutions deemed “too big to fail”—so large and interconnected with oth…

Ο αχυράνθρωπος της ΕΚΤ επιβεβαιώνει πλήρως ότι οι 'αγορές' θα επιτεθούν εάν η κυβέρνηση δεν περικόψει τις συντάξεις

globinfo freexchange
Σε πολύ πρόσφατο άρθρο είχαμε υποστηρίξει ότι ένα από τα βασικά εργαλεία του μηχανισμού της διεθνούς χρηματοπιστωτικής μαφίας (το Bloomberg), αποφάσισε να εξαπολύσει επίθεση κατά του τραπεζικού συστήματος και ο πανικός δεν άργησε να εξαπλωθεί.
Είχαμε γράψει επίσης ότι το πρώτο πράγμα που θα μπορούσε να σκεφτεί κανείς είναι ότι αυτό ήταν μια προειδοποιητική βολή εν όψει της μάχης για τις περικοπές των συντάξεων το 2019. Δεν χρειάζεται πλέον να είναι κανείς προφήτης για να μαντέψει ότι αν η κυβέρνηση 'τολμήσει' να αθετήσει τα προσυμφωνημένα και δεν περικόψει εκ νέου τις συντάξεις, οι επιθέσεις των περίφημων 'ελεύθερων αγορών' θα γίνουν ακόμα πιο σφοδρές.
Δεν πέρασαν καλά-καλά τέσσερις μέρες και επιβεβαιωθήκαμε και πάλι. Η επιβεβαίωση αυτή τη φορά ήρθε από τον αχυράνθρωπο της Ευρωπαϊκής Κεντρικής Τράπεζας που επιβλήθηκε ουσιαστικά στην κυβέρνηση ΣΥΡΙΖΑΝΕΛ από τον άξονα Βρυξελλών-Βερολίνου και τοποθετήθηκε με το 'έτσι θέλω' στη θέση του διοικητή τ…