Bleeding Edge

Saving the European Union, the EuroZone, and the Euro coin itself from extinction is nobody’s priority today, except Germany’s.

And even if that were doable — who is going to save Germany from itself ?

Because saving Germany from it’s dark ego psyche is just an impossibility.

Especially since the very “nature” of Germany is what causes this problem.

The Hun psychology is evident in the actions of the EU and the ECB and also in the craziness that has befallen it’s beleaguered Frankfurt stooge, Mr Draghi…

The euro was born in 1999, and so is still technically just a teenager. Growing pains and volatility are to be expected, but to be using the Euro in order to bind people and whole Nations into slavery under the Huns is unprecedented. And to have built a whole bureaucracy of faceless complicit bureaucrats and unelected puppets pretenders to European leadership i order to subjugate a whole continent to the German jackboot of the ECB is having a historical parallel to the Second World Era occupation where the then EURO known otherwise as the European Deutche Mark, ran the European economies to the ground in order to produce surpluses for the German War Effort.

Sounds similar to today?

Of course the Good Germans would never do that…

Right?

For those of you who haven’t got a good reading of WWII history and of the German Reich, or of their vast conspiracy to exterminate upwards of ten million of people in an industrial way — I suggest that you probably remember more fresh German ignominies.

If you can forget the Holocaust — then I don’t have much faith in your mental faculties but I’ll still give it a go…

How about the Volkswagen scandal of emissions taking place this last year ?

Do you remember the institutional fraud of the biggest Auto maker in the world conniving to fool the emissions testers of the EPA regulators in the United States and Europe, in order to pass muster with their secret over the board emissions ?

And do you recall the Company’s constant denial after the fact ?

And the CEO and Board of Directors constant denial until the Prosecutors in the US took them to task and they had to give up the blame game and threw a lowly engineer under the bus in order to shield the leadership ?

Surely only a lowly VW engineer was involved in this historic and massive scandal. It must have been the software surely could have been a better explanation but these super busy and super industrious Germans can’t think of everything…

Surely this vast fraud, was not a conspiracy from the top.

Well, if you believe that one — then I’ve got a bridge, a White House, and a tower, I want to sell to you.

Still, the defensive tone of this morning’s European Parliament testimony by the new European Deutche Mark, the EURO currency’s chief puppet steward, European Central Bank President, Mr Mario Draghi, spoke about the currency union’s especially troubled youth, and why it has to be redeemed…

Mr Mario Draghi, a closely watched cartoon character — Super Mario — who famously helped ease the euro’s deepest crisis in 2012 with the three simple words “whatever it takes,” still seems to be doing whatever he can, in order to fend off the currency union’s vocal detractors, and in order to serve his Masters, the German High Command…

Earlier in his tenure at the ECB, Draghi’s primary critics came from the German & the European Parliament, where officials worried the central bank’s easy money policies might help weaker economies while generating inflation for Germans — a fear that has proven repeatedly unfounded, since the system is designed to help Germany control the European economies and thus produce German surpluses in perpetuity.

But now, with presidential elections looming in France in the wake of right-wing political victories first in Britain and the United States, the magnitude of the existential threat to the euro only seems to have become greater.

“It is easy to underestimate the strength of this commitment,” Draghi said. “But that would overlook the progress we have made. With the single currency, we have forged bonds that survived the worst economic crisis since the Second World War.”

“This was in fact the original raison d’être of the European project: keeping us united in difficult times, when it is all too tempting to turn against our neighbors or seek national solutions.”

It’s not hard to understand why Draghi chose to speak of the common currency in such broad, historical terms. This was Draghi’s message to the continent’s nationalists, like France’s Marine Le Pen, who would like to dissolve the euro.

Draghi, being a mouthpiece of the failed European globalization policies, also didn’t mince words when it came to the Trump administration’s recent accusation that Germany was manipulating its currency by undervaluing the euro, rejecting the claim outright, by saying that “Trump’s talk is a curious claim considering Germany has also been calling for higher interest rates, which would likely be accompanied by a stronger euro.”

Of course that is a well placed smoke screen for the ECB and it’s handlers in Frankfurt, as seen by how Super Mario Draghi  used his podium, to sail a few words past his less radical, pro-euro German critics, saying: “The objective of Economic and Monetary Union should be to strive to achieve ‘economic and social progress’ as was the intention of the signatories to the Maastricht Treaty.”

“And for this, we need sustained growth and job creation,” Thus said Super Mario. And we believe him… Not.

He then went on to list the economic stabilization and improvement seen in the last few years in detail, adding “our monetary policy has been a key contributor to the positive economic developments I have described.”

It is surprising to see how the central bankers who grew so accustomed to having their every word being front-page news during the global financial crisis and heard around the globe like gospel readings — now in the aftermath — it must come as an adjustment to suddenly be relegated to the back pages, and to be made fun of…

And so, they suddenly rail against their return to insignificance, by even making up news for themselves, by becoming visibly animated and sticking their finger and tongue out in places they should never have been in the first place — instead of continuing being the inoffensive colorless, odorless gray & quiet men, they should always be. The obsessively solemn accountants — that never speak unless spoken to.

On the other hand another Globalist, Mr Mark Carney, the Canadian governor of the Bank of England, says he views this change of status as a positive development, in one of his many visible and verbose interventions in the daily news… “In many respects, we’re coming to the last seconds of central bankers’ 15 minutes of fame, to use the Warhol line, which is a good thing,” Carney said during his press conference on Thursday that followed the Bank of England’s policy decision.

“It’s a more balanced policy mix. Also, structural policy is becoming more important, trade policy clearly important here and elsewhere.”

However, the former Goldman Sachs partner’s reading of the situation may be too optimistic. After all, the reason the Bank of England, and the US Federal Reserve, have suddenly become less relevant is that both are facing levels of political turmoil and uncertainty not seen in decades.

In the UK, a slow, halting Brexit process is pushing up inflation and depressing investment, which is why policymakers decided to leave interest rates on hold Thursday.

Stateside, the first two weeks of Donald Trump’s presidency have been a whirlwind of rolling mini-crises that threaten to become bigger problems down the line, most recently an unusual diplomatic spat with the US ally and trading partner Australia. This is on top with ongoing beef with Mexico, China, Iran, and others.

Making interest-rate policy boring again would be wonderful if the US and the UK had suddenly embarked on constructive debates about better ways to use fiscal policy or other major economic initiatives. But that’s just not what’s happening.

On the upside, the turmoil simplifies the Fed’s decision-making, and the classical thinking going along the lines, of why raise interest rates when the Trump uncertainty factor so overwhelmingly clouds the outlook…

Whereas the question that should be on everybody’s mind is what is the best for the Economy of the US and the General World Economic Outlook via Mercantile Expansion.

And if our friend Donald Trump is willing to tackle the American debt and manage a structured restructuring of it, to the favor of the United States — he is the man to accomplish that in a decent and favorable way.

A restructuring of the massive debt will help all of the world’s economies breath better…

Yours,
Dr Churchill

PS:

It appears that the European Central banks’ “15 minutes of fame” are coming to an end, far sooner than what the Germans and their puppet Brussels bureaucrats along with their Frankfurt counterparts could wrap their heads around the inevitability of history branding them as useless pariahs.

The Peoples of Europe will take a little longer to wake up, but that should not be too far away now — especially since the Brexit breach of the PanEuropean vessel named EURO whose trajectory now resembles the fate of the infamous Swedish imperial ship named VASA, becomes visible.