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The Tragedy of the European Union and How to Resolve It
Sunday, September 9, 2012 18:11
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Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
thetrader.se / by the Trader / September 9, 2012
From the Master himself, on the Eurocrisis and the new phase we just entered. George Soros must read.
In a fast-moving situation, significant changes have occurred since this article went to press. On August 1, as I write below, Bundesbank President Jens Weidmann objected to the assertion by Mario Draghi, the president of the European Central Bank, that the ECB will “do whatever it takes to preserve the euro as a stable currency.” Weidmann emphasized the statutory limitation on the powers of the ECB. Since this article was published, however, it has become clear that Chancellor Merkel has sided with Draghi, leaving Weidmann isolated on the board of the ECB.
This was a game-changing event. It committed Germany to the preservation of the euro. President Draghi has taken full advantage of this opportunity. He promised unlimited purchases of the government bonds of debtor countries up to three years in maturity provided they reached an agreement with the European Financial Stability Facility and put themselves under the supervision of the Troika—the executive committee of the European Union, the European Central Bank, and the International Monetary Fund.
Thanks to BrotherJohnF
2012-09-09 18:02:56
Source: http://silveristhenew.com/2012/09/09/the-tragedy-of-the-european-union-and-how-to-resolve-it/
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