The Decline and Fall of the European Union

EUCharles Hugh Smith – That a single currency, the euro, would fracture rather than unite Europe was understood long before the euro’s introduction as legal tender on January 1, 2002. The euro, the currency of 19 of the 28 member states of the European Union, is only one of the various institutions tying the member nations of the European union together, but it is the linchpin of the financial integration touted as one of the primary benefits of EU membership.

Skepticism of the benefits of EU membership is rising, as citizens of the member nations are questioning the surrender of national sovereignty with renewed intensity.

The technocrat elite that holds power in the EU is attempting to marginalize critics as populists, nationalists or fascists, overlooking the untidy reality that the actual source of tyranny is arguably the unelected bureaucrats of the EU who have taken on extraordinary powers to strip the citizenry of member states of civil liberties (i.e. the right to dissent) and of meaningful political enfranchisement. Continue reading

As Germany and France Come Apart, So Too Will the EU

germanyCharles Hugh Smith – When is a nation-state no longer a functional state? It’s an interesting question to ask of the European nation-states trapped in the devolving European Union. Longtime correspondent Mark G. recently posed seven indicators of dissolving national sovereignty; here’s his commentary:

“RE: The Ghosts of 1968 (February 14, 2018):

In France the “Ghosts of 1968” have become the Poltergeists of 2018. This looks like another real watershed in European and world history. Once again Parisian mobs have appeared and have collectively realized they now hold the real power. And their issues are all anti-EU (European Union) and anti-NWO. (New World Order)

I’m honing my German Collapse Scenario as more data flows in, as it is in ever-faster and larger quantities. ‘Germany’ will implode in parallel with the EU.

So-called ‘states’ with: Continue reading

Fed Flunked Deutsche Bank On Recent Stress Test [Video]

kirbyGreg Hunter – Macroeconomic analyst Rob Kirby says there is a lot you are not seeing with all the bad news coming from Deutsche Bank (DB). You’ve seen DB stock hit all-time lows, the Fed downgrading them and flunking the bank on a recent stress test.

Rob Kirby says it’s much worse than you think and explains, “Basically, it is the German regulator telling DB you are going to get out of this pool, then the Americans realizing how hostile the Germans have become to the criminal activity of the U.S. monetary complex. They basically said you are getting out of our pool?  Well, we’re going to waterboard you first, and we’re going to bring public shame upon you.”

Is Kirby worried about DB going under? Kirby says, “I think Deutsche Bank could go under. It might very well deserve to go under, but will they be permitted to go under? In my view, there is no doubt what-so-ever that Morgan Stanley was insolvent in the 2008 and 2009 time frame. Their stock was at $5, and it looked like it was going to $0. They pulled out the stops and papered over the shortcomings at Morgan Stanley.” Kirby thinks European central bankers will do the same for DB.

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Soros: My EU Project Is Collapsing – I Will Do Everything To Protect It

sorosSean Adl-Tabatabai – Globalist billionaire George Soros has warned that his EU project is collapsing, and has vowed to do everything in his power to save it – even if that means engineering a financial crisis.

A surging US dollar will lead to another “major” financial crisis, Soros told EU ministers on Tuesday.

Rt.com reports: Speaking in Paris on Tuesday at a meeting organized by think tank the European Council on Foreign Relations, he said that the European Union is facing an imminent existential threat.

“Everything that could go wrong has gone wrong,” he said, adding: “It is no longer a figure of speech to say that Europe is in existential danger; it is the harsh reality.”

Refugees, territorial disintegration and an austerity policy are the three major challenges for the EU, according to Soros. The “addiction to austerity” by the EU had harmed the euro and was worsening the European crisis, he said.

The billionaire added that the “termination” of the nuclear deal with Iran and the “destruction” of the transatlantic alliance between the EU and the US are “bound to have a negative effect on the European economy and cause other dislocations,” including a devaluation of emerging-market currencies. “We may be heading for another major financial crisis.”

The EU needs to “transform itself into an association that countries like Britain would want to join, in order to strengthen the political case,” said the businessman.

This could be achieved if there’s a clear differentiation between the EU and the eurozone, Soros noted, adding that the bloc should recognize that certain problems exist with the euro currency. It should also repeal “outdated” legislation and not make countries outside of the eurozone feel inferior.

The investor suggested that an EU-funded Marshall Plan for Africa, worth about €30 billion ($35 billion) a year, could be the remedy for some of the ills facing Europe, while it would ease migratory pressures to the continent.

Soros also proposed a radical transformation of the EU, including the abandonment of the clause forcing its member states to join the single currency.

SF Source Your News Wire May 2018

Migrant Crisis Set To Spark Deadly Civil War In Europe

cretuSean Adl-Tabatabai – A top EU official has warned that the migrant crisis in Europe threatens to erupt into a huge civil war within 2 years, unless something drastic is done to curb the influx of refugees.

European Commissioner for regional policy Corina Cretu says that leaders need to spend serious money on tackling the issue, before migrant ghettos become a “nuclear bomb” of unrest.

Dailymail.co.uk reports: Despite decades of spending on infrastructure in the poorer parts of Europe, the European Union is aiming to reduce inequality by pumping more money into countries in eastern and southern Europe. Continue reading