Merkel calls for ‘real, true’ EU army

Merkel received a standing ovation – but also boos from some MEPs (Photo: European Parliament)

 

German chancellor Angela Merkel on Tuesday backed the idea of creating a “real, true” army for the European Union as the geopolitical alliances are redrawn all over the world.

Merkel spoke to MEPs in Strasbourg on Tuesday (13 November) backing up France’s Emmanuel Macron’s call last week for a European army, and rebuking US president Donald Trump, who has tweeted that the idea was “insulting”.

The German chancellor, who has already announced this is her last term in office, also called for a European security council with a rotating presidency of each EU member state, “where decisions can be made more rapidly”.

“The time when we can rely on others have passed, we have to take our fate into our own hands if we want to defend our community,” Merkel told the European Parliament.

Deflation Warning: The Next Wave

The signs of deflation are now flashing all over the globe. In our estimation, the possibility of an associated financial crisis is now dangerously high over the next few months.

As we’ve been saying for a while, our preferred model for how things are going to unfold follows the Ka-Poom! Theory as put out by Erik Janszen of iTulip.com.

That theory states that this epic debt bubble will ultimately burst first by deflation (the “Ka!”) before then exploding (the “Poom!”) in hyperinflation due to additional massive money printing efforts by frightened global central bankers acting in unison.

First an inwards collapse, then an outwards explosion. Ka-Poom!

We’ve been tracking the deflationary impulse for a while, and declared deflation the winner back in July of this year.

BRICS countries come close to establishing reserve bank

The BRICS member-countries have come close to establishing a reserve bank which will operate as a stabilization fund, Chinese Finance Minister Chen Zhu Guangyao said. Should such a fund be set up, it will prove helpful in restricting the dollar’s influence on the developing countries’ economies, experts say.