ANGLO SAXON MONETARY QUEST
Monitoring current developments regarding the financial crisis in Europe and how the US is influencing European decision making one cannot blend out the notion some conspiracy theorists have regarding the “New World Order” whose main aim seems to reestablish the old Anglo-Saxon global financial powerhouse. Obviously they can’t call it by name for then the Europeans would not jump onto the bandwagon to apply austerity for the cause of the Anglo Saxon eco – financial empire.
'EU's actions could lead to revolutions in Greece and Portugal'
With rigorous austerity measures applied in Europe the threat of civil unrest or even revolution would bring the US – UK closer to their objectives. It seems however that France is starting to realize the true intentions of the USA and its proxy, the UK, for Sarkozy and Cameron clashed over the strategy on how to rescue the Euro zone. “You have missed your chance to shut up”, Sarkozy told the British Prime minister at the EU summit. France rejected British interference.” We are fed up of your criticism and telling us what to do. You said that you hate the EURO, thus you did not join the Euro Zone but now you want to interfere in our summit” Sarkozy allegedly told Cameron. Cameron reiterated US criticism on lack of initiative by the EU in order to solve the Euro crisis. “You have to apply a bazooka”, Cameron said. In other words apply decisive austerity, as envisioned by US “CORPORATOCRACY” to save the banks.
RATING AGENCIES, MERCENARIES OF THE ESTABLISHMENT?
Moody’s move of downgrading two of Frances biggest banks increased pressure on governments across Europe to impose austerity on the working class. This is precisely what the US and UK set as their objective, for French and German banks, have large holdings in Greek bonds and thus the fear of dept default and subsequent collapse in confidence in the two countries would be imminent.
Germany, France and the USA demonstratively reassured financial markets that Greece was not on the verge of bankruptcy but blamed the social democratic PASOK government of escalating its assault on jobs and living standards of Greeks working class.
QUEST OF WAR
The fact that Geithner made it clear however that the US considers the steps taken by Europe thus far to be inadequate and calling upon European governments to use “overwhelming force” to deal with the continents financial crisis showcases the true intentions behind the current financial crises triggered most likely deliberately by US entities. The fact that Geithner took the unprecedented step of attending a meeting of the European Union’s Economic and Financial Affairs Council ECOFIN, (one has to seriously question as to why the Europeans accepted US interference) in which he pressed to lay down the law to Greece and extract a pledge of further layoffs and budget cuts, only reiterates the true objective of the US - UK agenda.
In order to obtain IMF funds, Greece will have to apply even more drastic measures and reduce its public sector workers by more than 40,000. This is the usual IMF strategy which has brought many countries to the ruins. New cuts will only deepen the crisis, but the international bourgeoisie is determined to exploit the financial crisis to dismantle all of social gains of the past century and reduce the middle and working class to poverty.
BANK RESCUES AT ALL COST
Privatization is the key tool used by “CORPORATOCRACY” to take control and gain power, thus it comes as no surprise that Italia’s parliament approved a 54 billion Euro austerity budget that aims to eliminate the nation’s deficit by 2013. This however is only the first step. There is talk of large scale sale of state assets to raise as much as 400 billion Euros. Among the targets for privatization are government holdings in the power utility ENEL and the oil and gas group ENI.
BANK RESCUES AS AN EXCUSE TO APPLY FURTHER AUSTERITY
France, on the other hand is moving for a massive bailout of its banking system, which will inevitably imply severe austerity measures against the French working class. This is being pushed particularly by the US and the IMF, which fear the international consequences of a collapse of one or more big French banks.
The USA and the IMF once again are waging a hidden war against Europe which unfortunately the Europeans don’t realize, for their economy and industries are too entangled with US corporations.
The IMF warned of a financial meltdown if European banks are not quickly recapitalized, i.e., bailed out with public funds. US Treasury Secretary Geithner pressured European finance ministers to expand the 440 billion Euro “European Financial Stability Facility” in order to bail out failing banks!!!!!!
Where are we heading with all this, back to the middle ages, where none what so ever democratic values existed? It all seems to head towards that direction.
Notwithstanding the differences that exist within the international bourgeoisie over how to deal with the debt and banking crisis, there is a universal consensus that the cost of the breakdown of the capitalist system must be borne by the working class.
The question is if the 1% ruling class have made the mistake of underestimating 99% of the population and tightened the thumb screw an inch too much? For now it seems that the 99% had enough and thus are waging their own resistance against austerity and diminishing democratic values.
Parts of above article have been adapted from Barry Grays’ article in Global Research
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Posted by: Tukiyooo
ANGLO SAXON QUEST Updated at :
8:07 AM
Monday, October 24, 2011
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