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.
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