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37

The Genius Of Mutual Indebtedness

by Whaleoil on June 15, 2012

ᔥ RealClearPolitics

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  • Johnbronkhorst

    Nice!!!! Hit the nail pretty much on the head. EU and the euro currency zone, has been used by, particularly France and Germany as polical tool to advance their agenda (the domination of Europe) since it’s inception. They prematurely expanded the Eurozone into marginal countries, in order to expand their own influence and not for sound economic reasons. Their chickies are definately coming home to roost!!

    • Le Sphincter

      OH pleeese.
      They have been doing it since the 14th century for France and Germany had a bit of catching up to do since 1870.
      …..obvious proof that large class sizes meant there was some slacking off in the back row..

      • Johnbronkhorst

        So Thats where you were hiding….idiot!!!!!!!!!!  Eu is a VERY recent event. Try not open your mouth too often, as you will fall over when your feet fall out!!!!!

      • Johnbronkhorst

        Notice….all these failed states have ALL been primarilly SOCIALIST since the EU and Euro currency started!!!……..FAILED…….NZ labour is just poor and facile copy of these!!!

    • JeffW2

       Entry of the marginal countries was for economic reasons, for Germany at least – so that’s it currency was held down. This boosts German manufacturing at the expense of German consumers (and soon at great expense to German taxpayers).

    • Mr_Blobby

      Well done John Bonk you nearly got it right.
      However France is far more socialist than us and are right up the shit creek without a paddle and they are up to there eyeballs in debt. The main point you miss is everyone in the Eurozone has been fudging the books. I personally believe that the collapse of the EU is just a formality.
      We under National are charging at great speed down the same path. What the main stream media have not shown us are the violent anti austerity protests. The longer we spend more than we earn the harder the landing will be.

      • Le Sphincter

        So  we have the UK  Conservatives announcing a 180 bill pound stimulus. Of course its not financed by borrowing so doesnt appear as debt- which is borrowed from someone- its created by printing money.

        Austerity doesnt work- ask Herbert Hoover how well that turned out after he was elected President 4 times

      • Bunswalla

        @a26dd3b7dec9594bb480c2cb098e6bf6:disqus He was elected President of the USA once, fool, in 1928. He then lost the next election in 1932.

        Still talking out of your arse, I see.

      • Pukakidon

         Sphincter

        You need to get an education, you are making a complete arse out of yourself.

    • Mediaan

      You seem to suggest they were working together.

      From my cursory grasp of European history, this would indeed be a newish thing. Making you right to refer to an Eu setup as distinct, and Sfink wrong, if I read you both correctly.

      Unless you suggest that France was secretly dominating Germany via money, or trying to, even after 1870 when Germany finally stuck itself into one nation.

  • Vlad

    He is a voice of sanity in the EU, a failing attempt at world government overwhelmed by an incompetent and enormous bureaucracy.  The UN had better intentions but is similarly afflicted. 

  • Corruptionfordummies

    and now the Trans-pacifici-titanic steams into view….

    • Johnbronkhorst

      a multilateral free trade agreement is hardly what the EU or the euro currency zone is.

      • corruptionfordummies

        the very genisis of what the euro was supposed to be was that. i.e. the point. i.e. check the next steps beyond the tpp.

  • ConwayCaptain

    Nigel Farage and Daniel Hannan have been saying this for years.  The UK economists who kept Britain out of the euro have also said this.

    We are seeing the break up of the EUSSR.  There will be blood on the streets and in the countries.  There will be the rise of the Far Left and the  Right. We are seeing this already.

    I predict that Britain for about the 5 th  time will have to go into Europe and sort it out.

    This happened in the Marlborough Campaigns in the early 18th Century.  In thne Napoleonic Wars of the late 18th and early 19th Centuries.  It almost happened in the Franco German Wars and then twice in the 20th Century.  And then the Cold War when the US and UK supplied the majority of the troops in Germany to prevent the USSR coming across the N German Plain or through the Fulda Gap.

    • Le Sphincter

      The USSR found East Germany a financial burden- Beria if he became leader would have offered reunification in return for  a non aligned united Germany.

      WW2 had two interfering fools in military strategy- Hilter and Churchill. Stalin had the best strategic brain, once the war had begun and  Roosevelt wisely mostly keep out of 
      military strategy. but kept an eye on shipbuilding.

      Cant  think anyone in the USSR wanted to invade the West- wouldnt have made sense to them, but they did fear an attack due to continuous overflights and other provocations which they thought could be precursors to an attack

      • Boss Hogg

        I will repeat my response to you from another thread.

        The Arsehole – do you actually believe the things you write on this site?  Serious question.I have had the displeasure of dealing with pathological liars and sociopaths from time to time, but I have to suspect that you are very unwell.I hope your future is better than your present state.

      • Johnbronkhorst

        more stupidity. The USSR did not hang on to East Germany for financial reasons, they were geopolitical reasons, it gave a buffer between Russia and the west, as at first they were afraid the west would invade. After that didn’t happen they militarised East germany with not only MANY east German divisions, but many russian divisions as well, so if there was conflict between Russia and USA they could elinate Europe in short order doing away with USA’s allies and creating a defendable land mass. Stalin was a parnoid idiot that killed most of his best generals, made a pact with hitler and invaded the baltic states and poland. He was a voilent thug, that knew nothing about warfare.Molatov was his ace in the hole…now he understood warfare. Your history knowledge is shown up for what it is….completely LACKING in any basis of fact!!!

        • Paulus

          The USSR was fragmenting from within as the Stan states in the south gave the USSR close to a Muslim majority who controlled the Oil and Gas.

          • MediaanLlm

            Apparently Baluchistan holds around 350bn of gold. Your mention of oil and gas in the stan states makes me wonder what other mineral wealth exists across that area. Maybe poverty and non-western thinking means it has not been focused on yet.

        • Mediaan

          You can’t argue military history, or any history, as though it is settled and finite.

        • Le Sphincter

          Incorrect about Stalin and his military strategy
          MY views come from reading Field Marshal Brookes opinions, and he knew much better than you . I was surprised too that he rated Stalin so highly and Churchill a complete fuckwit as regards military stategy

      • Mediaan

        Very interesting Sfink, thanks. Though Stalin wasn’t too bright when it came to signing Concordats, one with Hitler, perhaps.

    • Mediaan

      Not sure where the USSR comes into it.

  • Boss Hogg

    Captain – Sadly I think your prediction will be proven to be true.

    Not that I agree with all that he writes, but George Friedman – The Next 100 Years (2009) is worth a look.  He suggests that Poland and Turkey will be two nations that make the most of the opportunities that get thrown up.  Any thoughts on that ?

    • Gazzaw

      Don’t know a lot about Poland’s current situation Boss but I do know that Turkey has it all going for them. A good economy & massive German investment particularly from the auto industry. Well placed strategically too.

  • Mediaan

    One could look on these absurdities of money and loan rates as a lasso, to hold them together, all reasonable methods having failed.

  • napalm in the morning

    You cannot fix a debt problem with more debt when your GDP is decreasing and your interest is increasing. Your forced austerity is going to keep decreasing your tax take for at least a decade. It will be followed by Spain as the same applies, when that happens it will start to trigger the credit default swaps( some believe there up to $700 trillion of those and nobody can tell what will happen then). Iceland looks like they are the only ones that got it right. Look to where this started and see what the Fed does next week or two. Dont blame the Greeks , they are just pawns. If Syria gets nailed in the short term, The Americans will help the Greeks just to stop the Russians getting a deep water port in the Med.
    Just venting!!. This is just going to end in war, just like every other fucking time , same fucking players and same fucking lies 

    • Isumbras

      Estonia also doing quite well…. after going the austerity route… President was recently in an amusing public slagging match with Paul ‘bail out’ Krugman of the NYT

  • Greg M

    Well I hope both France and Germany end up on their arse. They have brought this situation upon themselves. Only problem is, someone else will end up picking up the tab and paying for their grandiose ideas from the past.

  • Keithmatheson

    Napalm you talk my language. Russians are building a port in Syria

  • Seán Leahy

    Blah blah, its easy to criticise from the outside. Of course Mariano Rajoy is a centre-right PM picking up the pieces not from flagrant past governments (CL since 2004), but a construction market gone crazy. The rhetoric from the UK sounds pretty but I think they have a few problems of their own. Time they got off their high horse and suggested some solutions.

    • polishpride

      the solution is simple get rid of money altogether and move to a RBE …or follow Iceland either will work.

      • Mediaan

        I had to look up what you meant. It is impossible to “move” to a resource based economy: one has to start with resources.
        I assume you are a follower of some alternative movement?

        From Wikipedia:
        The term resource-based economy is also applied to a hypothetical economy in which goods, services and information are free. This use of the term is found in the writings of Jacque Fresco, in relation to The Venus Project.[8] The Zeitgeist Movement uses the term resource-based economy as does the Technocracy Movement.

  • ConwayCaptain

    Article in the DT wharer Gordon Brown is now saying that Italy and France will need to be bailed out.
    The Fed and the BoE are preparing to issue BILLIONS next week.

  • ConwayCaptain

    Turkey wants to join the EU. Now that is akin to national suicide.

  • ConwayCaptain

    The EU “elite” want more integration, more power to Brussels, less and less democracy. They will bring in rules and regulations and the people will start revolting and when the local police cannot handle it they will send in the EU Police and this is already formed.
    They will try and put down the insurrections and then we get blood on the streets and revolution.
    This will happen first in Greece and Spain/Portugal and the Italy.
    The Irish have anither option, Rejoin the UK and after QE11′s successful tour and the number of Irish in the UK this is not out of the question.

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