Early last
December, I wrote a piece entitled ‘Crisis or Coup?’ in which the
anatomy of the 2008 financial crisis was analyzed in further detail and some
conclusions drawn. These conclusions were drawn based on facts and actions,
not opinions. It was obvious at the time that the USFed
and our own government were acting not in the best interests of the people,
but rather in the best interests of banks and large corporations. Crony
capitalism, as it has often been called - where profits are kept and losses
are written off or passed on to the ‘Plebeians’ of a particular
society - ramped into high gear in the US. Remember the fact that the absurd
financial structure that is in place was the ‘solution’ to a
crisis, which had the fingerprints of the solution providers all over it.
Fast
forward one year and the same mechanism is firmly in place again and working
very well – this time in Europe. Again, the abuse of debt has been the
main villain. Couple that to greed, avarice, and unlimited access to power
and you’re going to have problems. EU2010 is no different than USA2008
on a fundamental level. The only difference is the consumer-driven side of
the Eurozone didn’t cause problems first – the sovereign issues roared
to the forefront.
And what
is happening to those leaders in the countries that are balking what are
essentially multiple coup d’ etats?
They’re summarily dismissed. George Papandreou in Greece has been
replaced by Lucas Papdemos, a rabid central banker
(ECB). Silvio Berlusconi in Italy is out, replaced (likely) by Mario Monti, a guy who has all sorts of insidious connections
to the Rockefeller/Rothschild global banking syndicate. Aka, the same
syndicate that is gutting America through its creature from Jekyll Island, the
federal reserve system itself.
So two
countries’ leaders toppled, and what of
Portugal? Interestingly enough, Portuguese President Anibal
Cavaco Silva has evidently learned how he is
supposed to behave from the demise of Berlusconi and Papandreou. He is now a
card-carrying water carrier for the syndicate. Check out his quote made on
11/10/11:
“The European Central Bank has to go beyond a narrow
interpretation of its mission and should be prepared for foreseeable
intervention in the secondary market, not as the central bank has done up to
now,” Cavaco Silva said yesterday in an
interview at Bloomberg headquarters in New York. He said government leaders
are unlikely to move fast enough to find solutions.
“It has to be able to be a lender of last resort,” said Cavaco Silva, 72, who as Portugal’s prime minister
presided over the 1992 signing of the Maastricht Treaty, which cleared the
way for the euro common currency. “It has to be a foreseeable,
unlimited intervention.”
The coup in Portugal has been effectively completed. Some people may
question why I use the term coup d’ etat. The
term essentially means takeover of a formerly sovereign nation in the context
we most often see it in. Oftentimes, coups are military in nature with a
rebel force conducting a coup to remove an existing government. Well, a
financial coup is along the same lines where the control of a country’s
financial system and/or its economy is taken from the people of that nation
by a banking cartel or syndicate. The very creation of the EU itself was a
mini-coup since those countries that entered gave up a large portion of their
sovereignty and put their destiny in the hands of a regional government and
central bank. These countries could no longer issue their own debt and when
things got bad, then couldn’t maneuver, and are now at the whimsy of
international banksters.
Don’t forget what Silva is really saying above, either. By making
the ECB the lender of last resort, what he is advocating is that the ECB
becomes owner of the failing countries within the Eurozone. This is precisely
what is happening in America now: that the federal reserve is openly
monetizing USGovt debt. Few take the next step and
make the admission that in doing this, the federal reserve is becoming an
owner of this country – and it is getting a larger share with every
bond it buys. And all this happens with the blessing of the US Congress and
various Parliaments in Europe. The dominoes are falling one by one into the
complete financial and economic control of international bankers. These are
men without a country, but men who seek to dominate all countries.
One thing forgotten in all this is that the USA is indeed headed for
the second stage of its continuing financial crisis, this time in the form of
a sovereign debt nightmare that will make 2008 look like a game of Monopoly.
No doubt there will be calls for the federal reserve to again be the lender
of last resort and another chunk of America will fall to the syndicate. These
nasty cycles will continue until it is all gone. Sounds
pretty gloomy doesn't it? Just look at what has happened so far and
then ask yourself if we’ve turned in another
direction or are just headed for more of the same.
At the end of the day, hopefully we will all come to realize that we
can gripe all we want about what has taken place thus far and what is to
come, but sooner or later we are going to have to own up to the fact that we
allowed it. Bankers couldn’t have packaged hundreds of billions of
dollars of junk mortgage bonds and leveraged it up 40:1 if people who had no
business buying a house hadn’t done so. Sure the system enabled it all,
but I have not heard a single case of an American citizen having a gun put to
their head and being forced to buy a house or participate in some other sort
of largesse.
We have allowed our elected officials to cede our national sovereignty
to bankers while we argue about steroids in baseball, American Idol, and the
fate of various Hollywood lawbreakers. We were so busy swiping our credit
cards that nobody paid attention to the fact that our government was doing
the exact same thing – on a grandiose scale, its ego writing checks
that the people of this country can never pay.
We did it all voluntarily. So have the Europeans. Nobody was complaining when
the welfare state was in full swing and sloth and laziness were incentivized
on a regional scale. Nary a word was said when exceptions were made so that
Greece could enter the EU in the first place. Nobody paid any attention when
it became obvious several years ago that the numbers weren’t adding up.
The whole EU was too busy partying.
I’d like to leave you with a quote from a wise man in American
history – Thomas Jefferson:
“The central bank is an institution of the most deadly hostility
existing against the Principles and form of our Constitution. I am an Enemy
to all banks discounting bills or notes for anything but Coin. If the
American People allow private banks to control the issuance of their
currency, first by inflation and then by deflation, the banks and corporations
that will grow up around them will deprive the People of all their Property
until their Children will wake up homeless on the continent their Fathers
conquered.”
Startling isn’t it? Look around you; his worst nightmare is
becoming our reality – on a global scale.
Until Next Time,
Andrew W. Sutton, MBA
Chief Market Strategist
Sutton &
Associates, LLC
Interested in what is going on in the markets and
the economy? Read Andy Sutton's weekly market and economic commentary 'My Two
Cents' - go to www.my2centsonline.com
