Detlev Schlichter slices out the nerve tissue from the blubber in another splendid piece on the amusing-but-frightening spectacle that passes for EU monetary policy:
Thankfully, in this age of ‘unlimited resources’ (i.e. paper and ink and all of their electronic equivalents), we have a man of almost unlimited intelligence to help decipher the nonsense that is currently sweeping Europe and all of its state-licensed and state-owned broadcast outlets, as the elites put their own inside men directly into all the high offices of government without the expensive bothersome trouble of elections. This is rather than hiding behind their paid-for squabbling puppets, a.k.a. politicians, as is their usual custom.
As the police state fetishists treat George Orwell’s Nineteen Eighty-Four, one almost gets the feeling that the government monetary monopoly elites have forgotten that Herr Schlichter’s Paper Money Collapse is supposed to be a warning, rather than a script.
Here’s a quote to tickle your ribaldry:
Robert Preston, the BBC economics expert, last week claimed that the solution now lies with the ECB, and he spoke confidently of the ECB’s ‘unlimited resources.’ Yesterday Vince Cable demanded ‘unlimited powers’ for the central bank. He also shamelessly regurgitated the well-worn politician’s excuse for Europe’s problems, namely that these countries are under ‘speculative attack’. The advocates of large-scale ECB intervention now include many pundits and commentators plus a sizable group of financial market economists and strategists whom decency obliges me to leave nameless. “It is important to keep the ECB engaged,” as one economist put it, “as only the ECB has unlimited resources.”
Such proclamations immediately invoke Albert Einstein’s famous dictum: “Only two things are infinite, the universe and human stupidity, and I am not sure about the universe.”