QUESTION: Mr. Armstrong, I find it truly enlightening that you told the European Commission from the outset this idea of the euro would fail because of a faulty structural design. Do you think there is any way to save the European system now?
Politicians will not give up power willingly. It just does not work that way. I have tried to stop what we face decades ago. A two-year old with a pocket calculator could have figured out where we are today in the 1980s. You just cannot perpetually borrow year after year with no intention to pay anything back without screwing up the entire future. I met with people back during the Reagan years. They said oh, no problem, they will be paying back with cheaper dollars.
Consequently, human nature stands in the way of saving Europe. Those in government justify in their narrow minds refusing to listen to the people quite easily. Bureaucrats (unelected) and politicians (pretend elected) live in an imaginary world where they are smarter than everyone else and they know best. With this line of thinking, these people justify shutting down the democratic process.
Rome kept up the pretense of the Republic even though nobody voted for the emperor. This is why I warn we too can fall with to freedom or authoritarian. Our crisis in democracy will reach the breaking point. Those in government today are just openly corrupt. Police are robbing the people under the pretense of confiscation of money that “might be” tainted just by having cash. The institutions of justice have crumbled to dust on the floor and nobody pretends to be just any more.
The head of Europe is appointed, not elected. Greece can have a public election yet Brussels rejects such an election and demand the new government abide by their demands anyway. Europe has been pretending to be democratic with the people electing representatives to Brussels by the unelected commission is not required to comply with the Parliament elected by the people. So we have the same pretense in place with the fall of Rome. A very disturbing outcome so far. America is not far behind.
Full article: Can Europe Be Saved? (Armstrong Economics)