Just last week Yiannakis Omirou, Cypriot House of Representatives President, was calling for the nation to accept it is “time for responsibility” as they progressed towards a final solution; and yet today, as Cyprus’ Famagusta reports, he believes the ‘Troika-imposed’ responsibility will, “turn Cyprus into a colony of the worst possible type.”
I have been watching articles pour forth about Cyprus all weekend. I am almost as aggravated with the majority of them as I am with what took place. People are dancing around the edges while the propaganda machines of Europe are churning out the usual bunk. There was no tax on the bank accounts in Cyprus. There still is no tax; the Cyprus Parliament has not passed it and will not vote on it until tomorrow so whatever action takes place it is retroactive.
While headline stories about averting the dangers of an international “currency war” dominated news coverage of the recently concluded G20 meeting in Moscow, the real unreported story is that the global gathering of central bankers and finance ministers is pushing forward with their plan for “supersizing” the International Monetary Fund.
Dominant Social Theme: The IMF is concerned.
Free-Market Analysis: The IMF is getting a good deal of play with a worried world forecast. The concern was stated in the IMF’s “World Economic Report.”
Economic data and technical data coming out of Spain is telling us point blank that disaster is looming and will trigger the dominos to fall across Europe.
The perfect storm of an economic collapse fueled by an all out housing and mortgage crash, a sovereign debt crisis, and a run on the over-leveraged unregulated Spanish banks is hammering Spain right now.
Austerity would work if Europe would just cooperate. Free-Market Analysis: Almost unnoticed, the world’s leaders now speak in terms of trillions rather than billions (or millions) as they used to, and the IMF and central banks are leaders in this trend (see above excerpt).
If there is any one more vivid confirmation of Mayer Rothschild words “Let me issue and control a nation’s money and I care not who writes the laws” then we have yet to find it. Today Hungary, which had “valiantly” defied Europe and the IMF in ignoring pressure to make its central bank more “malleable” finally folded, following a recent explosion in its bond yields, a surge in CDS to records, and a collapse in its currency.
Right on schedule, the International Monetary Fund’s Christine Lagarde has emerged to call for a united, Western effort to salvage the Eurozone and perhaps the euro.
This is entirely predictable in our view and has to do with the larger strategy of the Anglosphere power elite, which is to create a worldwide economic crisis in order to provide the requisite centralizing solution.
And so risk assets go to the OFF position following the latest statement from the IMF’s Christine Lagarde, who until very recently was France’s FinMin, and thus personally responsible for the current economic crunch:
An intrusive European body with the power to take over the economies of struggling nations should be set up to tackle the eurozone crisis, according to a leaked German government document.
The six-page memo, by the German foreign office, argues that Europe’s economic powerhouses should be able to intervene in how beleaguered eurozone countries are run.
For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China.
And it’s a lot closer than you may think.
France is hosting this year’s G8 and G20 summits, and French President Nicolas Sarkozy has started to campaign for a change to the way the US dollar plays a central role in the global economy.
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