Brexit Street Blues

Crs101010 - "care to elaborate on why EU was biggest asset grab of all time? And main benefits of the Brexit? "

I shall rant a bit... Lex parsimonae #1 - It's all about the money, so always follow the money.  Setting the table for the unified currency union, the 3rd Balkan "conflict" 1991-2001 leading to the dissolving of Yugoslavia. Who profited? 

The introduction of a common currency in 1999 with banknotes in 2002.  Who profited?  Upon entry to the common currency, each member state has suffered the same fate. In general, asset and consumer prices increased substantially, in some cases doubled overnight, while wages remained the same. Who profited? 

  

In order in maintain EU mandated budget compliance, austerity measures plague each member state. Less services, higher taxes to pay tribute to the Dukes of Hazzard who live in another land far away, because another distant land beyond their frontier is failing, while they are quietly buying those assets on the cheap.  Who profited?

The trap of a common currency restricts leeway to print your way out, adjust rates or monetary policy, here its hot, there its not, one size DOES NOT FIT ALL and debauch cannot be achieved while debt mounts. Terms are everything, as long as the payments don't put you over budget, that 24 month introductory zero interest payment works. Then come the days of reckoning, you go over budget, then can't make the payment when the balloon is due. On those bridge loans, who profited? 

Like the wicked witch of the East's flying monkey's, evil IMF and ECB agents descend upon you, your capital starved banking system (shackled by the common currency) and buy up your formerly SOVEREIGN assets or Greek Islands in forced liquidation for pennies on the Euro.  Meanwhile, your people suffer, you lose control of your own government to splinter groups, likely funded and controlled by guess who? Who profited?

Much like the war torn beach front and resource rich Balkans, can you take a wild guess who bought cheap, sat on it for a few years, and has now built resorts, essentially gang raping the former Yugoslavia, and are doing the same right now in Greece and other Southern member states in multiple asset classes? Who profited? 

After Yugoslavia was subdivided by bloodshed, with suitcases and bankers, they pulled off an economic invasion on the other financially weaker and mismanaged member states. Doing so without an army, or a single shot being fired, only suitcases, bankers and faulty policies, which were doomed to failure from the start, and they knew it all along.  Give a junkie a free dime bag, see what he does?  Who profited?

A union based solely upon unified trade, currency and monetary policy, cannot, has not and NEVER will work. Only Norway has had the brains to say NO - TWICE. 

My hat off to the Brits, although not plagued by the common currency, they are finally waking to the reality of the situation and getting out of the net payer black hole contributing to the largess of others. Who profited?

Those being the multinational banksters and elitists calling the shots. I can only hope that the rest of the member states or should I say their brainwashed electorate, wake up and fast.  

Upon waking, give a hearty FU salute, exit the union ASAP, repudiate debt if necessary, and go back to controlling ones own currency, monetary policy, economic and sovereign future. But the powers that be won't allow for that. 

Who profits? One is reminded that like Jar Jar Binks, the heads of the EU Commission and ECB are no more than "Palpatine's" stooges.

More on this topic in these select Natterings.