A perceived threat from Russia has triggered a central European dash towards military spending.
As corrupt as Varoufakis is, he’s right that the German-led EU wants to crush its own member states. Its aim is to make vassal states out of them.
ITALY could be set to pull out of the Eurozone in what would be the final nail in the European Union’s (EU) coffin, Greece’s former finance minister has warned.
Yanis Varoufakis said there was an “epidemic” among countries using the single currency, with Italy the next to fall foul of Brussels’ economic malaise.
He also said Brexit would “speed up” the break-down of the bloc – before making a dig at Jeremy Corbyn. Continue reading
Iran’s Aviation Organization signed the first ever contract with Ireland on expansion of aviation cooperation such as observing flight operation, continued flight eligibility, issuance of technical aid, repair and maintenance. Continue reading
US-based media have been reporting that Japan has become the biggest holder of the US treasuries, surpassing China last month. However, this is true only in regard to single countries. If we consider the European Union member states collectively, then they appear to be the biggest holder of the US treasuries. It has been so almost one year long. Unfortunately, the EU’s holdings are artificially overstated because of some financial havens and they are going in the opposite direction to the trend: up rather than down. Continue reading
The European Central Bank (ECB), creator of the Euro, currently claims to hold 504.8 tonnes of gold reserves. These gold holdings are reflected on the ECB balance sheet and arose from transfers made to the ECB by Euro member national central banks, mainly in January 1999 at the birth of the Euro. As of the end of December 2015, these ECB gold reserves were valued on the ECB balance sheet at market prices and amounted to €15.79 billion.
The ECB very recently confirmed to BullionStar that its gold reserves are stored across 5 international locations. However, the ECB also confirmed that it does not physically audit its gold, nor will it divulge a bar list / weight list of these gold bar holdings.
Questions and Answers
BullionStar recently put a number of questions to the European Central Bank about the ECB’s gold holdings. The ECB Communications Directorate replied to these questions with answers that appear to include a number of facts about the ECB gold reserves which have not previously been published. The questions put to the ECB and its responses are listed below (underlining added): Continue reading
The UK, Norway, France and Spain all intercepted the TU-160 planes
FOUR European countries were forced to scramble fighter jets after two Russian Blackjack bombers blasted across the continent, it has been revealed.
The UK, Norway, France and Spain all intercepted the TU-160 planes as they made a daring flight from Norway to northern Spain and back. Continue reading
Global Geopolitics called it, you witnessed it: The United States and Germany, though the European Union it dominates and runs, are locked in economic warfare against one another.
It’s a very dangerous game America is playing by trying to gut the largest economy in the world, the European Union, especially when nations are beginning to jump to the Sino-Soviet bloc.
German parliament’s economics committee chairman Peter Ramsauer says he believes the $14 billion fine being leveraged against Deutsche Bank is part of a long US tradition of waging trade and economic war.
- Ramsauer to Welt am Sonntag: Washington has a “long tradition” of waging trade wars, if they are favorable to the US economy, and the Deutsche Bank case is an example of that.
- “The threat to force Deutsche Bank to pay a $14 billion fine over its mortgage-backed securities business before the 2008 global crisis has the characteristics of an economic war.”
- “Extortionate damages claims” in the case are an example of that.” Continue reading
Ireland remains especially exposed to another financial shock because of the extremely high levels of public and private debt, the open nature of the economy, and Brexit, Irish Central Bank Governor Philip Lane has warned in a pre-budget letter to Minister for Finance, Michael Noonan.
“Ireland is especially exposed due to the legacy of high public and private debt levels, the sensitivity of small, highly-open economies to international shocks and Brexit-related vulnerabilities,” Ireland’s Central Bank Governor said.
There are so many incidents with the refugee crisis in Europe that the blog could be filled with that subject alone. Even the press in Germany is starting to shift after countless incidents from knife attacks to a gang beating and robbing British tourists in the same square in Cologne, Germany. Not to mention the media’s failure to report things like the attack on women in Cologne and the protest in Frankfurt during the opening of the ECB that set the city on fire. Continue reading
As Germany dominates everything Europe, Frankfurt looks like the likely winner in becoming the world financial hub.
BRUSSELS: The EU is preparing to move its European Banking Authority from London following Britain’s vote to leave the Union, EU officials said on Sunday, setting up a race led by Paris and Frankfurt to host the regulator.
Coming a day after Britain’s Jonathan Hill resigned and was replaced as EU financial services chief by the Commission’s “Mr. Euro” Valdis Dombrovskis, the move underlines how the City of London can expect to be frozen out of EU financial regulation – and possibly from Europe’s capital markets – depending on the terms of Brexit.
While those who argued for Britain to leave the EU said the financial industry would thrive without EU shackles, some of its biggest employers including JPMorgan are scouring Europe to find new locations for their traders, bankers and financial licenses. Continue reading
I stumbled upon an article by Day of the Jackal author Frederick Forsyth, published last week in the Daily Express, that I think every Briton and European and everyone else should read. Forsyth doesn’t delve into the American pressure to form a European Union as a counterweight to the Soviet Union, he sticks with ‘founding father’ Jean Monnet and his reasoning behind the particular shape the Union took. And that is bad enough.
All Forsyth has to do is to quote from Monnet’s work, and I have to admit that while reading it I increasingly got the feeling that it’s quite remarkable that no-one, especially no journalist, does this. It’s there for everyone to see, but that means little if and when no-one actually sees it.
I have repeatedly talked about how the very structure of the EU self-selects for sociopaths and/or worse, but perhaps not enough about how that was deliberately built into the design. A feature not a flaw. Continue reading
The author is 50% right and 50% wrong. Simon Jenkens explains that a Brexit would mean Germany will be given free rein over Europe once again and to be able to do what it wants without being stopped. This is the the half portion where he’s right.
Where he’s wrong is that he’s missing 50% of the picture: Germany doesn’t really care what Great Britain does, it’s advantageous either way. If the Britons wish to remain in, they will be subjugated to Germany as they run the EU and two thirds of the Troika which is stacked with unelected officials answerable to nobody — and coincidentally mostly German. To see where the scenario of staying in would lead to, just look at Greece. It’s a vassal state with no more sovereign rights and gets dictated to on economic policy, the terms of the bailout it accepted under Communist Varoufakis and Tsipras. The same for Cyprus.
This is the price for staying in and reaping what the leadership in Germany and Brussels call “benefits”.
One day people are going to wake up and realize the Fourth Reich is here — and it’s pushing for a tyrannical United States of Europe. Its respective EU Army (NATO’s replacement) is already under construction. Soon you won’t be flying into a continent called Europe, but a nation called Europe.
You might’ve seen this quote often here by now, but it still couldn’t be any more true and relevant for today:
“You have not anchored Germany to Europe,… You have anchored Europe to a newly dominant, unified Germany. In the end, my friends, you’ll find it will not work.“
– Margaret Thatcher
In the end, this referendum is about politics not economics. And a Britain that votes to stay in the club will wield serious clout
Decision time is here. The dither must stop. The referendum campaign has been tedious and infuriating, but in truth enthralling. I cannot remember a political event that has so consumed public discussion. In every pub, workplace, college and home, friends have argued, families feuded, allegiances splintered. Only the 2014 Scottish referendum came near it. For two months democracy has been asked to do that most alarming thing: to think for itself, independent of party. It is awesome. It is also dangerous.
I have deliberately switched sides each week during the campaign, to see how the much-vaunted “facts” register against divergent prejudices. I have subjected my poor brain to a barrage of “reality checks”, and meticulously balanced pros and cons. I have long been a Eurosceptic, but that is not the same as being a leaver. Continue reading
- Ever since the inception of the European Economic Community, British politicians across the entire political spectrum have been perceptive enough to realize that Britain will lose its sovereignty and turn into a vassal of the France-Germany axis.
- This month, in March, an official audit reported that EU auditors refuse to sign off more than £100 billion ($144 billion) of EU spending. The Brussels accounts have not been given the all-clear for 19 years in a row.
Why are EU Regulations so long? Maybe because they have to be translated into the 18 official languages? Interpreters also have to be found who can work into and from those languages at the European Parliament. The translation budget is massive. One of the official languages currently is Irish. It can confidently be said that there is no one in the Republic of Ireland who does not speak English; many Irish do not even speak or understand Irish, and certainly none of Ireland’s politicians will be fluent only in Irish. But all of the “acquis,” the body of regulations that are already part of the EU body of laws, also have to be translated into the languages of candidates for EU membership, such as Turkey, thus adding more languages to the tally each time a new regulation is passed. If Catalonia breaks away from Spain and remains a member of the EU, Catalan will need to be added, even though Catalan politicians all speak perfect Spanish.