Trends Journal: Economic Martial Law to be instituted by March 2012

You’re only allowed to access the materials on this page if you promise to hide all of your razorblades or any other sharp instruments around your current location.

Agreed?

Okay, I’ll continue.

Picture this; you are the ECB and you are banned by treaty from buying up European government bonds (denominated in Euros) with printed-up money. So as good general theory Keynesians, just what are you supposed to do?

Unfortunately, you had to agree to this shackling in your formation, because although the French smacked the Germans into giving up the Deutschmark in return for allowing the Anschluss between West Germany and East Germany, the Germans never really wanted to give up the Deutschmark in exchange for reunification.

The Germans only reluctantly agreed to giving up the Deutschmark on condition that the new ECB never printed up Euros and parceled them out to profligate welfaristas such as the governments of Club O’Med, particularly Greece, Italy, Spain, and Portugal.

Hence, the conundrum above, for the money printers within the ECB.

But did the Germans ban the ECB from printing up a load of paper Euros, swapping them with the Federal Reserve for Dollars, and then parceling out these ill-gotten-gained paper currency units to these same profligate welfaristas?

Mein Gott, Himmel, Donner, und Blitzen, I don’t think they thought of that!

Oh well, better luck next time trying to rein in money printers, German hard money fans. But don’t worry. I thought this new ‘bazooka’ would give the EU about another miserable week of kicking the can down the road. It turns out it’s only lasted about three days.

You really couldn’t make it up.

In the meantime, the inter-related MF Global crisis rumbles on in the background, with the Chicago Mercantile Exchange (CME) having slashed its own wrists with its inept (or some would say suspicious) handling of this enormous derivatives crisis.

One prominent U.S. broker, Ann Barnhardt, is so disgusted by the whole thing, that she shut down her brokerage and would welcome moves for the CME to be shut down too, and for a new futures and options exchange to be rebuilt from the ground up, in Dallas, Texas.

[Let us hope that will new exchange will be in an independent ‘Republic of Texas’, when the doors open. I’ll be the first in the queue to become a citizen of this new glorious land, should that wonderful event come to pass. I shall even wear a Davy Crockett hat at Houston airport, when they let me into my new homeland, or a ten-gallon hat, if they’re out of ‘Crocketts’ at Heathrow.]

Getting back to the point, for an excellent comprehensive account of the MF Global crisis, plus the financial events in Europe, you must listen to Ann Barnhardt, interviewed on Jim Puplava’s Financial Sense Newshour:

All I can say, after listening to this interview, is that I hope Ron Paul makes Ann Barnhardt his Chief of Staff if he should make it to the White House.  There would be no prisoners.

For those Keiserites out there, you may also want to suck up Max’s take on all this mind-numbing fascist corporatist hilarity, partially delivered via Slinky-Vision:

For those particularly resistant to bad news, you might even want to hear a third tale in this weeping willow of a story. Yes, sports fans, it’s Gerald Celente, as interviewed by Lew Rockwell, and what Mr Celente thinks is going to happen; to wit, economic martial law instituted globally by the same Keynesian idiots that got us into this gigantic cornucopia of Keynesian misery in the first place:

Crikey, what a mess.

If that’s all a bit too much, and you’re tempted to get the razorblades out again, watch my favourite piece of current music, by JLS.  It certainly cheers me up:

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About Andy Duncan

An Austrian Internet Vigilante trying to live Outside the Asylum
This entry was posted in Austrian Economics, Blogging, Divide and Rule, Goldbugs, Inflation, Keiser, Politics, QE3 and tagged , , , , , , , , , , , , , , , , , . Bookmark the permalink.

3 Responses to Trends Journal: Economic Martial Law to be instituted by March 2012

  1. Pingback: The Rise of the Global Zombie Banks | The God That Failed

  2. DDearborn says:

    Hmmm

    So the question asked so many times about how and why post WWI Germany allowed the rise of the Nazi party and Hitler has now been answered. They have literally taken the Nazi model and applied it globally. Just substitute Muslims for Jews, DHS for the SS and presto! It is interesting to note that in both cases a tiny minority ended up with all the wealth and power. And sadly it will take another world war (though perhaps not in the literal sense) to once again cover up their crimes……

  3. IronCandy says:

    Democracy faild in the good old greece… greece philosophers discussed bout why it faild & they had no answer. The german democracy after WW1 failed… in a democratic process. The US-democracy is a joke. 200 million ppl, 2 parties to represent their interests. Democracy is nothin but an illusion…

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