Saturday, January 31, 2015

When the One World Order met the Cockroach

I can't think of a better time to break out the popcorn and beer ... there is nothing better than watching the petulant and imperious Snobs of Europe have to confront what they have sown; servile socialist basket cases. At the center of it all is Germany, which has benefited the most by tying its currency to these socialist backwaters, enabling it to compete globally on the back of what is a grossly deflated currency.

Remove Germany from the Eurozone, and not only does the Euro collapse, but the German currency would sky rocket, destroying Germany's competitive advantage.  While so many point to the German economy as an example of efficiency ... the truth is entirely different.  Germany manages simply because she sells to the world using the Euro ... whose value is based on a basket of economies many of which are lackluster.  Without the Eurozone, Germany is just another bloated Keynesian elephant.

Just a few months ago Euro-snobs were crowing that they had licked the great recession of 2008-2009 ... only to be forced now to launch QE.  And to make matters worse, the battle of Greece has begun.

It's hard to sympathize with any side in this next chapter of Eurozone drama.  My only pleasure is in watching the One World Order Elites and Socialists claw at each other's throats.

So earlier today the ECB's Erikki Liikanen, tired of pleasantries and dealing with what to Europe is a completely incomprehensible and illogical stance, one which is essentially a massive defection by Greece in the European "prisoner's dilemma", and which while leading to a Greek financial collapse and Grexit - both prerequisites to a subsequent Greek economic recovery unburdened by the shackles of the Euro - would also unleash a European depression, came out and directly threatened Greece that it now has 1 month until the end of February to reach a deal with the Troika, or else the ECB would cut off lending to Greek banks, in the process destroying the otherwise insolvent Greek banking sector.
... and from BBC:
Greece's new left-wing finance minister says his government will not negotiate over the Greek bailout conditions with the "troika" team from the EU and IMF.

Yanis Varoufakis said he was rather seeking direct talks with eurozone leaders, to try to cancel more than half the money Greece owes.

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