Germany, the Money Power’s Golem in Europe
Far from opposing the New World Order, Germany is implementing the Money Power’s policies in Europe. Its deflationary policies (austerity) are causing the mayhem the Money Power needs for further consolidation of power in the EU, most notably Fiscal Union through the European Stability Mechanism.
By Anthony Migchels for Real Currencies
In many respects Germany is to Europe, what America is to the World: the Money Power’s Golem. The Golem is the soulless mind controlled brute doing the bidding of its handlers in Jewish Folklore.
It is quite a common mistake made by many otherwise reliable commentators to believe Germany is in some way resisting the New World Order. The reason for this is clear: people wrongly equate the Anglo-American Elite with the Money Power, as discussed last week.
The basic issue is that Germany does not allow the ECB to buy up bonds from the peripheral European Nations (the so called PIIGS) who are in trouble and can’t find market players to buy their debt. This is what the Americans want the ECB to do, just as the Federal Reserve Bank has been buying up US Treasury Bonds that the Chinese and Japanese no longer want.
This German stance, while much maligned in Europe itself, can count on much sympathy from many commentators in the Alternative Media. So when Germany is telling Geithner in no uncertain terms to mind his own business with his ‘stupid plans’, many people are elated with this kind of macho theatrics. Just like they adore Putin’s anti-American antics.
What is really going on?
One of the points is that the Fed’s interventions in the Bond market have been severely criticized as being ‘inflationary’ by much of the Alternative Media which is dominated by Austrian Economics and its fascination with the volume of money.
The swashbuckling monetarists at the Bundesbank share much of this kind of ‘volume is everything’ outlook on the monetary.
But the reality is, America is still somewhat independent from the Money Power and the public there would not allow the punitive interest rates and ongoing taxpayer funded bailouts which are the norm in Europe, which has been under the New World Order’s boot for centuries and cannot even think of any other way. That’s why the FED is forced to buy up the US Treasury Bonds at close to zero percent, instead of allowing the Republic to be strangled by 8% bonds, which is probably what the market would have the US pay at this point.
The hyperinflation scare is still much on the minds of many people. It also happens to be one of the major drivers in Germany’s ‘obstinacy’. After all, it is the Weimar inflation of the early 1920’s that is the basic case against money printing.
But ‘hyperinflation’ is indeed just a scare. M1 has been under severe pressure both in the US and in Europe ever since Lehman Brothers went down. The statistics are quite clear.
Ambrose Evans-Pritchard recently reported that at this point M1 is growing at a paltry 1,5% per annum in the US and tanking with a very severe -11% per year in Europe’s weaker economies. That’s deflation and depression, not inflation, let alone hyperinflation.
Meanwhile this overrated fear of inflation is destroying the EU and the euro. That may not be so bad, the euro is a disaster anyway, in terms of power centralization, systemic imbalances in a far too big currency region, and loss of national independence and democracy. But the loss to interest payments, already massive even before the crisis, is getting totally out of hand and is destroying not only the European periphery, but also threatening its heartland. And it is not the EU that is paying for this, it is the people. As Ellen Brown reported this week:
“Why not lend the money to the Greek government directly (by the ECB)? Or to the Portuguese government, currently having to borrow money at 11.9%? Or the Hungarian government, currently paying 8.53%. Or the Irish government, currently paying 8.51%? Or the Italian government, who are having to pay 7.06%?”
Such interest rates are not sustainable.
Meanwhile, the Germans themselves are further and further enslaved by debt. They are now already on the hook for maybe as much as €2,1 trillion in guarantees and other liabilities. Many of these will go sour. And eventually all these risks are coming from the banks and are dumped on the hapless taxpayer, who is represented by nobody, notwithstanding the nominal ‘democracy’ that we hear of.
What we basically see is that the Germans and Americans, much like the Keynesians and Austrians are playing, or being played, along the lines of the Inflation vs. Deflation dialectic. People are led to believe the only choices are more debt and associated rising cost for capital and rising prices, or austerity with crashing demand and skyrocketing unemployment, including societal instability. Crucial is the misunderstanding that the problem is debt, while it in reality is all about the interest on the debt. People are so brainwashed to believe interest is unavoidable, it’s really uncanny and sometimes discouraging.
All the talk of Germany ‘resisting the New World Order’ is nonsense. Its leaders are the usual bunch of soulless traitors, doing the Money Power’s bidding in enslaving both the rest of Europe and their own people.
Europe’s problems could quickly be alleviated with the ECB buying up the bonds at 0 % interest. Yes, this would create a moral hazard: politicians could feel invited to spend more. But at this point they are forced to lend at unsustainable rates that are destroying the European economy.
A more permanent solution would be to nationalize all the banks, while repudiating all the nonsense on their balance sheets and quitting all interest payments. Banks are just criminal ‘institutions’. True, this notion is not yet acceptable for 99% of the people out there, but since it is the truth it is worth while to insist on it. A sensible program along these lines can be found here.
A sort of middle ground and more classical approach against depression can be found in Webster Tarpley’s five point program.
In short: there is absolutely no reason for all this chaos. The only problems are that both the people and their representatives are being conned by the financial wizards. Our leaders are indeed either useful idiots or willing traitors.
Look how they laugh while they feast on our life blood.
The Inflation vs. Deflation Dialectic
The Problem is not Debt, it’s Interest
High Treason: the European Stability Mechanism
The Battle for Europe: will the people or the Euro survive?
The US Empire is not the Money Power!
The Wolfson Prize, I win!
Financial Warfare 2012: Boycott All Banks