"......If Mr Draghi really is the Latin bloc’s monetarist avenger, the Germans will find out soon enough........"
Above image - exactly at the opposite of Karl Marx: religion (of Rome) moves economy, in its turn economy moves the world. (collage of two images, over Eurasia, the pope manages the selling of indulgences (today disguised as ''banknotes'' to be "protected" from the "perfidy" of Jews); the image comes from a book of doc Martin Luther. [''good works'' save your soul via materialistic manifestation of salvation by a clerk of the pope (technically: Roman Catholic priest) who stamps on your front the invisible Rome's sign: "SAVED". Rome is the materialistic manifestation of ''god'' therefore ''divinity'' works only through material Rome. Salvation costs, so Rome had the idea to introduce a "salvation" market to pay the salvation product. All that descend from the concept of "papacy as materialistic manifestation of the divinity on earth". A material manifestation which equalizes everyone to everyone on earth, because everyone must be compared with it. Here's is born the true soul of modern banknotes which transforms the goods in universal abstract values. Therefore here is born Communism.]
Write "Latin bloc" - read "Roman Catholic core of Euro(po)pean Union. Remember that the "PIGS" area (approx. Portugal, Italy & Ireland, Greece and Spain) is too centered on the "Latin" (= Roman Catholic super-loyal to the (black) pope) Europe. And especially think that such super-Roman Catholic bloc has just his religious military-police, the: EUROGENDFOR. Eurogendfor has the command in Italy, the pope's Romish republic, near Vicenza. To hide all that a farce has been put in motion, with the scandal of the enlargement of the US Army base Dal Molin, in other words: stage a fake enlargement to hide the enlargement of Roman Catholicism in Europe:
".....No Dal Molin is a movement of citizens and groups opposed to the creation of the new U.S. Army base at the airport Dal Molin in Vicenza, which would reinforce the other American settlements in the area is like the Barracks Ederle Vicenza and the base Site Pluto Longwood...."
[...No Dal Molin è un movimento di cittadini e di associazioni contrari alla realizzazione della nuova base dell'esercito statunitense nell'aeroporto Dal Molin di Vicenza, che andrebbe a consolidare gli altri insediamenti statunitensi già presenti sul territorio vicentino come la Caserma Ederle e la base Site Pluto di Longare.......] URL: http://it.wikipedia.org/wiki/No_Dal_Molin
"....Based in Vicenza in the "Generale Chinotto" barracks, the EGF HQ is now developing a comprehensive and coherent operational system, which will permit to be ready in case of prompt deployment to crisis areas......." URL: http://www.eurogendfor.eu/
".....The political-military coordination of the European Gendarmerie is entrusted to CIMIN, based in Vicenza (taken to police headquarters, "General Chinotto ''), an inter-ministerial committee composed of the Ministers of Foreign Affairs and Defence of the Member States acceding to the EGF, providing men and means. Each year one of the Ministers assumes the rotating presidency of the tip.
The EGF is not under the control of national parliaments or the European Parliament, answerable directly to governments, through the said CIMIN......"
[Il coordinamento politico-militare della Gendarmeria europea è affidato al CIMIN, con sede a Vicenza (preso la caserma dei carabinieri «Generale Chinotto»), un comitato interministeriale composto dai Ministri degli Esteri e della Difesa degli Stati membri che aderiscono alla EGF, fornendo uomini e mezzi. Ogni anno uno dei Ministri assume la presidenza di turno del CIMIN.
La EGF non è sottoposta al controllo dei Parlamenti nazionali o del Parlamento europeo, risponde direttamente ai Governi, attraverso il citato CIMIN.]
[Please, notice the deception (creating a lie with the management of silences and words): "....(taken to police headquarters, "General Chinotto '').....". This is the headquarter of Carabineers, which are a military NATO force with duty of 'civil' and military police services!!!]
"........Mystery games from Vicenza troops from the barracks chinotto and landed in Athens in Greece why?.....
Vote for VIP by admin on Google
URL: http://www.vip.it/mistero-le-truppe-partite-da-vicenza-dalla-caserma-chinotto-e-sbarcate-ad-atene-in-grecia-perche/The mystery of the European troops landed in AthensAbove image - the headquarter of the European Union military police in Vicenza (Veneto region, Italy), controlled by NO parliament [directly in the hands of Rome].
On 8 October, the European Gendarmerie troops would be landed in Greece from their base in Vicenza, then head to the Balkans. According to sources interviewed by Linkiesta it would be a military exercise planned for some time, but was afraid of being heard as reinforcements in view of strikes planned for 19 and 20 October next. The police denied this, while the Minister for the Protection of citizens has not yet responded to a parliamentary question tabled last Friday. Moreover, the army was also mobilized to protect those who collect the waste, which invade Athens. On October 8 some of the European Gendarmerie Force troops would leave the barracks "General Chinotto" in Vicenza for the direction of Igoumenitsa , a city on the northwest coast of Greece, before being transferred to the base of Larissa, after crossing the entire country in the direction east, and from there spread to the Balkans. The news was leaked on several blogs, some to a nationalist, to end up on WikiLeaks. Greek news sources have confirmed that some eyewitnesses Linkiesta would see military vehicles, and landed at the port of Igoumenitsa, carry bags bearing the effigy of the army community, and then moved to the east. The military of Larissa, recently evacuated, seems to be the only one capable of hosting an international force, for this network has been talked about a similar destination. The fact is that, according to the reconstructions of the blogosphere, Army troops were sent by the Community in order to limit any violence during the strike planned for 19 and 20 October next. Some people know the facts, however, explain that it is an exercise of 'Eurogendfor (which brings together troops from the Netherlands, Romania, France, Spain, Portugal and Italy) together with some soldiers from the Czech Republic and part of Seebrig the multinational peacekeeping force "Southeast Europe" acting under the UN auspices. In short, it seems a routine operation, already planned for some time. Nothing strange, except that for weeks in the Greek capital, there are the tight and demonstrations, not always peaceful. So much so that a black bloc interviewed today by Republic admitted that he "coached" in Syntagma Square in view of the march of indignados last Saturday in Rome. Last Thursday, a statement issued late at night, the police have denied "the presence of European forces in crisis management", branded as "irresponsible" of the Web sites that published the rumors. However, on Friday, two MPs of the Communist Party have made an interpellation against the Minister of Protection of citizens, asking if the military were actually Europeans arrived in the country to help the police to quell any Athenian tense situations, but the Minister, so far, has not responded, despite one of its spokesmen, also on Thursday night, has confirmed the presence of reporters brigade "Balkans" of Seebrig. Meanwhile, the Prosecutor of Athens, Eleni Raikou, has accused an independent radio station for spreading news of the city without any foundation.
The mystery, however, on Eurogendarmery remains. Why is passed through Greece towards Kosovo or Bosnia? This is really an exercise or is there more? Some argue that the rumors related to the military community have been created to put pressure on Greek police, accused of too much indulgence towards the protesters, and ideally their neighbors as public employees, and then the government target of cuts under the plan austerity, a prerequisite for receiving EU-IMF aid. Today, the local media there are new developments, except that the Hellenic army will be used to tackle the waste crisis in Athens. Because of incessant strikes by environmental professionals, in fact, the city is choking, and the mayor has decided to entrust the service to a private company, escorted by army trucks, Ekathimerini writes today.
Although not wanting to support unproven conspiracy theories, it remains a fact: the European Council on 23 October, the banking lobby gathered at the International Institute of Finance will present a cut in the nominal value of Greek bonds by 55 percent. A level well over 30%, conventionally considered "default". The restructuring forced greek debt , in short, could be far more profound and radical than announced. And the Greek citizens may have a reaction to uncontrolled further cuts requested by Brussels after their crucial meeting next week. ......."
The headquarter in Vicenza is an headquarter of the Carabineers army, a police and military NATO force. Eurogendfor is only the religious secular military arm to control/suppress 'heretics' in the "Latin's bloc" (and tomorrow elsewhere in the Euro(po)pean Union):
"....Germany does not take part, as their constitution does not permit the use of military forces for police services. The minister of defense, Peter Struck, clarified in 2004 that the legal foundation of militarised police forces is different from expectations underlying the EGF......."
So please, ask yourself why Germans don't want again an SS-like military police.
Never forget the vital necessity to keep always alive the "Zionist threat" as alibi to increase anti-semitism and kneeling of Europe in front of the pope & Jesuits. Then notice the voices of a near fall of five American banks, a synchrony with the central banking system coupe d'etat in Euro(po)pe by the financial dictator of Rome, Jesuit trained Mario Draghi:
"......The following interview with Ellis Martin of www.EllisMartinReport.com covers in detail the impending undeclared default of 5 major US banks this week by the International Swaps and Derivatives Association. This even has the potential to cause a second financial crisis that would require significant financial intervention. If you have time to spare, listen to this interview. If you don’t have time to spare, listen to it anyway.........." URL: http://israeltruthtimes.blogspot.com/2012/02/sick-and-corrupt-you-absolutely-have-to.html
Never forget the "war on Iran", as alibi for a spiritual alliance between Russia & Eu in the sign of the Big Enlargement (Roman Catholic church from Ireland to Straits of Berings with the end of schism). Below, see the article:
Mario Draghi, the Latin Bloc’s monetarist avenger
The eurozone money supply is contracting at an accelerating pace on all fronts. The broad M3 gauge has fallen for the last three months in a row. A slump is already baked in the pie.Photo: Getty Images
[Article translated in Italian in Comedonchisciotte site of (Counter) in(Ref)formation - original page: http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9047851/Mario-Draghi-the-Latin-Blocs-monetarist-avenger.html
Credit to households and firms shrank by €90bn in December alone. It is the biggest drop in a single month since the launch of the euro, worse than after the Lehman collapse in October 2008 or at any time during the Great Recession.
One dreads to think what would have happened to Europe’s banking system and to the solvency of Italy and Spain if Mario Draghi had not come to the rescue before Christmas with unlimited three-year funding at 1pc, against almost any collateral: that is to say, if the mad Hayekians had still been in charge of the European Central Bank.
“We know for sure that we have avoided a major credit crunch, a major funding crisis," said Mr Draghi in Davos.
Let us hope so. In the meantime, great damage has been done. The International Monetary Fund expects economic contraction of 2.2pc this year in Italy and 1.7pc in Spain, with further declines in 2013 - if all goes well.
This will play havoc with debt trajectories. Italy’s debt will rise to 127pc of GDP by next year. Spain’s will rise to 84pc, more than 11pc worse than forecast in September. There will be scant improvement to the budget deficit in either country. So much austerity for so little gain.
For Spain, it means yet more cuts. Citigroup has pencilled in 26pc unemployment this year. This would push the youth jobless rate to around 54pc nationwide, rising towards 60pc in Andalucia.
The bitterness is starting to show. Rodrigo Rato, head of Bankia and a former IMF chief, said the structure of monetary union is rigged in favour of Germany. “When the Germans are in trouble, the other EU members help it, and when the others have problems, Germany takes advantage to lower its own borrowing costs,” he said.
There is a core of truth to this. The ECB set rates too low over much of the last decade to help Germany out of slump, setting off credit booms that destabilized half of Europe. The favour was not returned in mid-2011 when the Trichet-Stark team raised rates even though real M1 deposits were collapsing across Club Med, with consequences that are now painfully apparent.
The IMF has not yet announced its new forecasts for Portugal. If the changes are anything like the Spanish revisions, Portugal’s public debt will peak at nearly 130pc of GDP next year instead of 118pc. This does not include an array of quasi state bodies that push the figure a great deal higher.
Olivier Blanchard, the IMF’s chief economist, blames Europe’s double-dip recession on the twin effects of fiscal cuts and tight credit as banks slash their books in a scramble to meet core Tier 1 capital ratios by June to avoid being nationalized.
“Decreasing debt is a marathon, not a sprint. Going too fast will kill growth. What is happening in Europe is making things worse,” he said. The rush to slash is “leading to a dangerous downward spiral“ for the system as a whole.
“If not contained, this downward spiral can lead to even worse outcomes, be it disorderly default or Euro exit, with major spillovers, first to the rest of the Euro area, and then to the rest of the world,” he said. It took 20 years to slowly purge the excess debt left by the Second World War. The IMF fears it may take even longer this time.
Mr Blanchard is a Keynesian. Those of a monetarist bent are less alarmed by fiscal contraction. I have no doubt that monetary stimulus a l’outrance - the classic remedy of Britain’s Ralph Hawtrey, Sweden’s Gustav Cassel and America’s Irving Fisher in the 1930s - can counter the effects of fiscal tightening if conducted in the right way. The debt-to-GDP burden falls faster that way and deflation is averted, a lesson that Japan forgot.
The great question is whether Mario Draghi is embarking on just such a policy, covertly, through his Long-Term Repo Operations (LTRO), starting with €489bn in three-year loans to 523 banks December and to be followed by another blast in February.
The LTRO is not entirely a free lunch. It is replacing funding that has dried up, but to the extent that banks in Italy, Spain, France and Portugal use the cheap money to buy government bonds at rich yields - the Sarkozy "carry trade" - they are not lending to business, as newly bankrupt Spanair can attest.
“It is a Pyrrhic victory,” says Guy Mandy from Nomura. It has prevented a liquidity shock and brought confidence back from the dead but “is increasingly punitive” because the haircuts on collateral are crowding out the banks’ balance sheets.
The more they use the facility, the more collateral they hand over to the ECB. Since the ECB has senior status, everybody else faces “subbordination”. At some point this dynamic may turn nasty, causing private credit to tighten. Mr Mandy frets about what will happen if Fitch and Moody’s join S&P in downgrading Italy to BBB+, triggering a 5pc margin call.
Fitch did downgrade Italy by two notches to A- with a negative outlook, citing “lack of clarity on the ultimate structure of a fundamentally reformed EMU; the risk of self-fulfilling liquidity and even solvency crises in the absence of a fully-credible financial 'firewall' against contagion”.
Yet, monetarists think Draghi is quietly pulling off a remarkable coup. “This is stealth QE: the impact is dulled because they are not making it clear what they are trying to do, but in the end it may ultimately be as powerful as QE in America and Britain,” said Lars Christensen from Danske Bank.
Tim Congdon from International Monetary Research said Mr Draghi had already boosted total credit to banks from €580bn to €832bn since early November, entirely reversing the Trichet tightening of late 2010.
This may rise to nearer €1.5 trillion this year. While it does not lead to a rise in broad money at first (just the monetary base), it is likely to feed through over coming months in complex secondary effects. “My conclusion is that the Draghi bazooka is such an aggressive example of monetary easing that Eurozone M3 growth will run at 5pc or more [annualized] in mid and late 2012.”
“I remain sceptical about the viability of the European single currency in the long run, but the day of the execution has been postponed once again,” he said.
If Mr Draghi really is the Latin bloc’s monetarist avenger, the Germans will find out soon enough. It is Germany that will overheat, inflate, and suffer a “Latin” credit bubble as EMU’s wheel of fortune turns. Europe’s crisis will take on a whole new political turn. But that is a chapter for tomorrow.
Tuesday, April 12, 2011
From Dingle Bay to the Straits of Bering: the true cause of the contemporary events shaking the world
(As I have no time, no resources, no money, no support at disposition, it is clear that what I wrote is affected by many errors and uncorrectness. I am not a prostitute lay journalist of this dirty Vatican 'tollerant' regime called 'democracy'. I have not the 51% of the Bank of America supporting my writings. I don't control the Casinò of Ostenda and neither Citroen and Peugeot as the General Superior did at least in 1958. So corrections and additions could appear in the future)