Comments on: ECB threatens to renege on promissory note deal

By: Georg R. Baumann

Georg R. Baumann — Sat, 16 Feb 2013 07:58:49 +0000

There is a statement in this article that could not have been expressed more subtle:

…. we are still shouldering debt which threatens to seriously undermine our society…..

These debts and the process applied to them continues to dissolve the fragile social fabric, not only in Ireland, that allows for peace and development, and actively dismantles democratic structures, substituted by a financial oligarchy, a conglomerate of high finance as well as selected industrial and political driven interests.

One of the direct results of siuch policies applied is the extreme low wages market that is flourishing and drives “nomad workers” to accept work under appalling conditions and wages. Amazon in Germany shall be just one example here, one of many more, and many more to come….

By: Peter Pipesmoker

Peter Pipesmoker — Fri, 15 Feb 2013 19:52:42 +0000

Weidmann may be right that it is Monetary Financing but it’s about time that that Muppet Head banker realised that the ECB have got to save “this Euro Sucker going down”. Which means all the fancy rules and principles must be thrown out the Window . He seems to think that that stuff is okay as long as everything is signed over to German Control . Governments are probably close to doing that but large elements of Populations won’t . The Truth is if they want fancy Principles and Control they ultimately won’t get either. If they ever Do then the European Project will ultimately in my view meet Armed Resistence from Within to change . If the ECB continues on it’s current path then in my view when the EuroZone goes down it will eventually bring down the European Project with it . In truth the ECB Euro Idea has failed and if the ECB want the EU and Euro to continue for most countries then some kind of Breakup or Restucturing back to their Own former Currencies should happen . It’s not Clear that Weidmann and Germany really grasp that that is exactly whats on the line here . Unless they do soon they will eventually lose control of the situation with devastating consequences for all . Yours Sincerely, Peter Pipesmoker .

By: Joseph Ryan

Joseph Ryan — Fri, 15 Feb 2013 14:06:40 +0000

@NWL

On further thoughts, it seems wrong to dismiss millions and millions of people with the word etc etc. So with your indulgence;
Imperial and commercial hubris, war, defeat, imposed reparations, a State bankrupt by reparations, money printing presses, naziism, war, genocide, slaughter, millions upon millions of lives maimed and destroyed, defeat, assisted recovery, commercial strenght, economic and social progress, reunion, further commercial strenght, commercial hubris, economic dominance, regime changing, ……..

By: Joseph Ryan

Joseph Ryan — Fri, 15 Feb 2013 13:45:19 +0000

Well, What do you know, Jens Weidmann again.
This time, Ireland’s answer should be not one inch, not one cent. Accept the deal or the ECB gets nothing, nothing.

“”I’m very concerned about monetary policy being too closely intertwined with fiscal policy and crossing the line to monetary financing.” Weidmann.

States, particularly Ireland, are more than very concerned; in fact, they are apoplectic with anger, that the ECB did cross the line by insisting that States bail out banks.
‘Monetary financing’ in reverse, so that the ECB and its creditor and banker pals could be bailed out by the States.

Sometimes, when I hear of the great German fear of monetary financing, I have to remind myself of the historical sequence leading to its money printing episode.
Imperial and commercial hubris, war, defeat, imposed reparations, a State bankrupt by reparations, money printing presses..etc etc.
Perhaps Weidmann should study a little history, to get a better understanding of the genesis of inflation. He might learn something.

By: OMF

OMF — Fri, 15 Feb 2013 13:42:37 +0000

Oh my prophetic soul…

By: Anonymous

Anonymous — Fri, 15 Feb 2013 12:27:19 +0000

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