Tuesday, April 16, 2013

“Increasing the humiliation for Cyprus, Mr Draghi has written to Nicos Anastasiades, the Cypriot President, ordering him to stop angry MPs from criticizing or investigating the central bank and threatening him with sanctions in the EU courts.”
If this statement alone, does not send a chill up the spine of anyone, who holds the principles of democracy sacrosanct, then it should. It comes from straight out of the Kruschev era
This threatened utterance against elected representatives of the people, comes out of the mouth of an unelected bureaucrat. Unlike him, Cypriot MPs, answer to the people. It is self evident that the common market that Britain joined in the 1970's, is in the final stages of metamorphosing itself into a supreme soviet
When Britain was at last given it's opportunity in referendum in 1975, page 12 of Britain's 'New Deal In Europe,' read as follows:
"The top decision making body in the Market is the Council of Ministers representing each of the nine member Governments. It is the Council of Ministers and not the Market’s officials, who take the important decisions.  These decisions can be taken only if all the members of the Council agree.  The Minister representing Britain can veto any proposal for a new law or a new tax if he considers it to be against British interests.  Ministers from the other Governments have the same right to veto.  All the nine member countries also agree that any changes or additions to the Market Treaties must be acceptable to their own governments and Parliaments. Remember: All the other countries in the Market, enjoy, like us, democratically elected Governments answerable to their own Parliaments and their own voters. They do not want to weaken their Parliaments any more than we would.” You now have unelected bureaucrats, telling elected representatives of the people, to shut up, or face more sanctions. Draghi, is now quoted by Forbes to be the eight most powerful man in the world.- I was brought up on the premise, that in elected democracies, it was the elected representatives of the people who hold power. Clearly (and now officially), no longer.
The Cypriot people, are currently being plundered by the EU, to pay for the criminally incompetent activities, of a politically motivated EU bureaucracy, that rolled out a currency , which had no Central Bank Control, no universal taxation system, no system in place to control admission to a currency dominated by Northern European markets, that in no way could ever be made to merge with southern Europe, without checks and balances contrived out of full economic and political union. They never asked the people if they wished for a trade agreement to become a super state, run by unelected, (and now obviously incompetent) bureaucrats.
Yet your own PM, (or is he just another EU stooge), does nothing to remind people such as Draghi, that representatives of the people answer to their electorate, and only to their electorate. Not to him. While Cypriots suffer redundancies, and expatriates. Lose their savings, It seems that only Nigel Farege, has the balls, to tackle this dictatorship. One thing that Brown did for Britain, and the only thing, during that diabolical administration, was to keep Britain out of the Euro. Can you imagine what would have happened to you, by now, f you had not had the ability to control your own currency?
Whatever the EU does to you today, I urge the Cypriot people to get out of the Euro, and rebuild your economy, in a realistic economic environment. By forcing your government to snatch your savings, and sell your gold, (while the price is even now, being driven down). far from assisting you to function as a nation, they are out to asset strip you, and lock you into their infernal currency, of long term debt, from which you can never recover.

6 comments:

Anonymous said...

Concern over the state of the global economy is growing today, as the jitters that hit the markets yesterday continue to reverberate around the trading floors.

Brent crude oil has fallen below the $100 a barrel mark overnight, its lowest levels since July 2012. Monday's disappointing growth figures from China are being blamed -- with investors anticipating lower demand for oil if (as feared) the global economy is entering a stickier patch.

The message this morning is that economic growth may be more elusive than expected (despite the ultra-loose monetary policy we've been showered with since the crisis began).

As Myrto Sokou, senior analyst at the Sucden brokerage, explained to AFP:


The recent Chinese economic data failed to meet analysts’ expectations and added further pressure to the market that was already showing sharp losses following disappointing US economic data last week.

Anonymous said...


Yesterday’s China inspired sell off looks set to continue this morning in the wake of continued sharp falls in oil, gold and copper prices as investors appear to be starting to lose patience and confidence in the so called global recovery story.

Another disappointing US economic indicator by way of the Empire manufacturing survey did nothing to quell these concerns as the run of disappointing US economic data continued.

Despite billions of dollars of financial stimulus from central banks worldwide the global growth story still appears to be no closer to showing signs of moving into a higher gear, and if anything continues to misfire like a clapped out old motor vehicle.

And to complete the picture, Moody's has lowered its outlook on China from positive to stable (more on this shortly).

So, that's the cheery picture this morning - I'll be tracking all the economic news and developments in the euro crisis through the day....

Anonymous said...

Gold Prices
Plummet to
Two-Year Low
Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation.

Anonymous said...

It's amazing how many bugs get squished by a falling gold brick.

Like cockroaches, you can never kill them all. No worries, when the price drops to $300/oz. that will leave more food for the bugs.

My local gold and silver shop had to bring the truck down today to remove some of the haul from panicky sellers since their vault was bursting. They take cash and all other manner of promises made out of dead trees, linen and silk for however much Ag or Au you want to haul out the door with you. If you want to take more than $10 million at a time, however, they do require two hour notice so they can retrieve more from their remote vaults. I guess Los Angeles is different than EUrope. It takes longer to walk out the door with a firearm than it does bullion, coins, flatware, jewelry, et al.

Regardless, you can always spend the weekend panning the local mountain streams for it; there are those who find it worth their effort. Or you can get a new brick fresh from the mine in Elko, NV.

Let's talk about a supply squeeze when the mines start shutting down. Until then, gold bugs are neo-Marxists thinking all wealth comes from either shiny things or workers. By that standard, the Indians have long been the wealthiest since they possess the most of both. They sure do a good job of hiding it every time I'm in Kolkata...

Anonymous said...

MEPs are debating a series of measures to reform the EU's banking sector.

The EU is proposing to cap bonuses to 100% of a banker's annual salary, or to 200% if shareholders approve. Banks will also be allowed to claim back bonuses from traders who take risks that have negative consequences.

The UK government has been isolated in opposing such a move, warning that it could restrict growth in the City of London.

The call to cap bonuses is part of the Capital Requirements Directive, a key package of laws to improve stability in the banking sector.

Other measures contained in the legislation include forcing banks to set-aside higher reserves of capital to weather any future financial storm.

Anonymous said...

Seismul s-a produs în Iran, dar s-a resimțit în tot Orientul Mijlociu, undele de șoc ajungând chiar și în capitala Indiei, New Delhi, potrivit BBC.

Sursa: Reuters


1 /2.

Clădiri avariate în Iran, în urma cutremurului din 9 aprilie Potrivit agenției de presă iraniene, Fars News, seismul a fost de 7,5 grade pe Scara Richter și s-a produs la ora 12.44, ora României, la o adâncime de 15,2 km.

Potrivit Institului American de Geologie, magntitudinea cutremurului a fost de 7,8, revizuit de la 8 grade pe scara Richter, cât a fost anunțat inițial.

Epicentrul cutremurului a fost în sud-estul țării, într-o zonă muntoasă și deșertică, la 86 de km de orașul Khash, lângă granița cu Pakistanul, precizează BBC.

Trepidațiile s-au simțit în Golf și Orientul Mijlociu, s-au mișcat și clădirile înalte din New Delhi, potrivit sursei citate. Oamenii au ieșit din case și au fugit pe străzi, potrivit martorilor citați de Reuters. De asemenea, au fost evacuați locatarii din clădirile care s-au zguduit în Qatar și Dubai.

Cutremurul de astăzi survine la doar o săptămână după ce sudul Iranului a fost zguduit de un alt seism grav, cu magnitudinea de 6,3 pe scara Richter. Seismul de marțea trecută a ucis cel puțin 37 de persoane și a rănit alte 850.

Majoritatea instalațiilor nucleare iraniene sunt localizate în centrul Iranului și în vestul țării, inclusiv centrala nucleară de la Bushehr de pe coasta Golfului. O hartă a Institutului american pentru Știință și Securitate Internațională nu arată că ar exista nicio clădire sau centrală nucleară în sud-estul Iranului, aproape de Pakistan.