Southern Europe’s debtor states must pledge their gold reserves and national treasure as collateral under a €2.3 trillion stabilisation plan gaining momentum in Germany.Read it at The Telegraph (UK)
Europe’s debtors must pawn their gold for Eurobond Redemption
by Ambrose Evans-Pritchard, International business editor
(h/t Roger Erickson via email)
Ann Pettifor's analogy with the Thirties seems right on.
Perhaps something is still causing political forces in the north to zealously seek the antiquities of the ancient world.
ReplyDeleteGermany still has the "Throne of Satan" (Altar of Zeus) in it's Pergamon Museum and modeled some of the Nazi infrastructure after the same architecture used by the ancients.
http://en.wikipedia.org/wiki/Pergamon_Museum
Then there is the on-going love affair with silver and gold aka Arguriophilia and Auriophilia that many people exhibit.
Perhaps what can no longer be obtained thru war and occupation is being sought thru "legal" means facilitated by a set-up and screw deal regional European economic policy that the nations that possess these antiquities were drawn into.
Very dark. Glad we can see this.
Resp,
As further reference, Gordon Robertson has a video documentary that includes some background on the presence in the north of this zealous obsession with ancient antiquities:
ReplyDelete(CAUTION VERY DISTURBING IMAGES)
http://www.youtube.com/watch?v=jF3USrZslI8&feature=relmfu
resp,
I really like AEP, although he is a monetarist but hes a good writer and quite often he gets down and fights his corner in the comments.
ReplyDeletePlenty of Brit MMT supporters are quite often there. Its a fun place to argue ;)
FYI just in time (May 30, 2012) Lithuanian Free Market Institute, "the leading economic policy think-tank in Lithuania" plan to propose a solution for restoring sound money in Europe.
ReplyDeleteThe proposed plan for sound money could be applied either by the European Central Bank in its attempts to create a solid foundation for euro, or by individual countries that may decide to leave the monetary union [...]
After the analysis, we propose to choose gold as a reserve commodity with the full understanding of its benefits and shortcomings. The study addresses major criticism of using gold, such as the dangers of deflation and the deleveraging process.
V,
ReplyDeleteWe have people advocating gold over here in the US too.
US Rep Ron Paul is their leader in the political realm.
Most who cant understand what is going on seem to want to go backto gold as they cant reach an understanding of how to operate a "fiat" or FFNC system.
Going to gold is NOT an improvement imo. Will lead to many of the same problems we now face with a FFNC system run by morons...
We need to exile the morons.
Resp,
"The study addresses major criticism of using gold, such as the dangers of deflation and the deleveraging process."
ReplyDeleteJust little minor problems, you know, especially in an era the private debt has exploded.