At last year’s WEC, we warned that the collapse of the euro was underway. We achieved the Yearly Bearish Reversal on the close of 2015, but we did so far below the number. We had been waiting for the rally to retest the 11600 level, which we finally achieved. The ECB monetary policy has been typical banker nonsense and has brought Europe closer to a major financial crash. Draghi has applied the unsupported quantity of money theory and assumes he will simply buy in the debt and the cash will miraculously be spent wildly by consumers. Trading volumes and the velocity of money have been falling in general since 1996-1998. The low to negative interest rate policy of the ECB has endangered pensions and ailing banks, and this is just now beginning to push pensions and banks over the edge. Draghai will not admit he is wrong, so he will blame everyone other than himself. Continue reading
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Camouflage and Deception
There’s war on the European continent once again, and at the moment it’s political/economic. The source? Germany. In this tangled web of European politics at the moment, there are also two parties involved: The blind caught in the snares and the complicit.
BERLIN/PARIS (Own report) – Using a deceptive strategy, Berlin seeks to ward off the French President-elect François Hollande’s demand to put an end to the German austerity dictate. Other heads of EU member nations have begun to demand alongside Hollande that the EU return to credit financed stimulus programs, to prevent the complete collapse of several national economies, such as Greece is now confronting. Since the demise of the coalition government in the Netherlands, Berlin has found itself rather isolated and, alongside declarations of not allowing the EU zone to budge from its current austerity course, is resorting to methods to create confusion within the rebelling populations. The government is keeping “a placebo for the Euro partners” on hand, explains the press. The chancellor will most likely adopt some of the terminology used by François Hollande, but with her own interpretations. For example, she will speak of “promotion of growth,” while meaning the imposition of “structural reforms,” as envisaged by the austerity dictates. No new expenditures are planned. This is how the French growth offensive will be verbally ensnared, without having ceded an inch on the essence.
Full article: Camouflage and Deception (German Foreign Policy)