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Eurogeddon Postponed Termporarily Due To Financal Conjuring Tricks
by John de Roe.
2011-08-12
The Daily Stirrer brings you opinion and comment on issues in the news that are likely to affect the lives of ordinary people. We therefore focus on economic matters, prices and inflation, jobs and unemployment, health, diet, education and social comment. Our contributors are old gits who are prepared to say what everybody is thinking.
Below our finance expert John de Roe analyses the latest bureaucratic scam that claims to have saved the European single currency but in reality is only another attempt to scam German taxpayers.

Eurogeddon Postponed Termporarily Due To Financal Conjuring Tricks

by John de Roe
12 August 2011

Euroggedon has been temporarily averted again. Jean-Claude Trichet, head of the European Central Bank (ECB) has arrived Superman - like in the nick of time to save the world. There will not be a bond crisis spiralling out of control in Italy and Spain in early August after all. An imminent meltdown of Europe’s financial system has been averted. Until September.

At first glance this looks good but not great. Ultimately European bureaucrats and central banker will have to face up to the fact that the Euro (the European Single Currency) can only be saved by engineering the departure from the community of nations that make up the Eurozone. A German exit from EMU would halt the debt-deflation spiral in PIIGS countries (Portugal, Ireland, Italy, Greece, Spain,) and clear the way for economic recovery to get under way.

Saying that is easy of course, getting it done is a tad more difficult. Unless the ECB is willing to embrace its new role as lender-of-last-resort by making massive purchases of dodgy looking Italian and Spanish debt, it will inevitably be tested in the financial markets. Weaker investors will use temporary rallies to offload holdings onto the ECB, i.e. onto eurozone taxpayers. Frankfurt will find itself underwater very quickly without a legal mandate or EU treaty authority.

Royal Bank of Scotland calculates that the ECB will have to buy roughly half the outstanding negotiable debt of the two countries to defend the single currency. RBS calculates €850bn. I would put it nearer €1 trillion. Unfortunately The ECB does not have any money and is acting as a temporary back-stop until the revamped EFSF bail-out fund is ratified by all parliaments over coming months.

Again that looks simple until we remember the EFSF has no money either. The parliaments of Eurozone nations have not even ratified the earlier boost to €440bn. As of today, the fund has barely €80bn left after all the commitments to Greece, Ireland, and Portugal. The rescue plan is more a fantasy novel than a plan.

As for boosting the fund further to €2 trillion or more – as suggested by Citigroup, RBS, and the European Parliament – we face a little local difficulty across the Rhine,France currently being in trouble itself, Austria being a no no because of the Micawberish eccentricities of local economics, Holland becoming more sceptical about the single currency by the day and Finland and Luxembourg the last of the Eurozone's solvent nations being tiny. With Germany the only nation capable and willing to bail out the Euro yet again, the provincial government of Bavaria, the Social Christians said they will not back one bent Pfennig for extra bail-outs, and the Angela Merkel's coalition partners in the Federal government, the FDP Free Democrats are almost of the same mood. Angela Merkel’s own Christian Democrat Union base grows more restless with every new economic problem that is announced. In any case, such an expansion of the EFSF would set off its own chain-reaction as France and then Germany lost their AAAs and plunged into the debt spiral abyss.

So, obviously markets will turn very nervous once ECB purchases approach the level that corresponds to the EFSF ceiling. They know that the ECB’s German members will fall on their swords rather than cross that line, taking the bond risk directly onto the ECB’s own balance sheet. Falling on swords could commence by the beginning of September as interest payments, become due and another trance of debt has to be refinanced. Gary Jenkins from Evolution Securities has noted that Greek yields fell from 12.43pc to 7.35pc in the week following the ECB’s first bond purchases, only to fly out of control six weeks later.

Whether buying time can solve anything depends on whether investors believe that Italy and Spain can grow their economies sufficiently quickly to break out of the debt traps they find themselves in. If we were on the cusp of a new global boom, then Italy and Spain can make it within EMU’s current structure but all the economic indicators suggest we are heading for another global recession..

If we do go into a global double-dip (defined as global growth below 2.5pc), they have no chance at all unless the ECB throws all caution to the wind, defenestrates the two German members from the top floor of the Eurotower, and embarks on a programme of Quantitative Easing that will have us all taking a wheelbarrow load of cash to buy a box of matches..

Germany might not like that prospect so despite all the talk from Bureaucrats and politicians, nothing whatsoever has been resolved by the latest plan to save the world..

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Is Brexit A Harbinger Of Doom For The 'Experts' The Brexit vote, the decision by a democratic majority in Britain to leave the European Union has sent shockwaves around the world. Not only does the EU now face a tsunami of departures, the usurpation of democracy by 'experts' ( technocrats ) has been challenged and exposed as a sham.

US Media Bias RevealedAs Political Fact Checkers Caught Covering Hillary Clinton Crimes

CNN Money’s “fact-checkers” Cristina Alesci and Laurie Frankel ended up with egg on their faces on Wednesday after they rated as “false” a well-established and proven Clinton Cash fact involving Hillary Clinton’s State Dept. approving the transfer of 20 percent of U.S. uranium to the Russian government, as nine investors in the deal funneled $145 million to the Clinton Foundation.

Why Do The Weatern Powers, The United nations And The EU Continue To Tolerate The Terror Sponsor Erdogan And Turkey
The terrorist links of NATO member Turkey and its corrupt and tyrannical President Erdogan are so well documented they are beyond reasonable doubt... Erdogan has traded oil and arms with ISIS, committed humanitarian crimes against The Kurds and given refuge to ISIS fighters in Turkey. And yet Barack Hussein Obama continues to support his regime and the European Union is determined to fast track Turkey to full membership.
Why Do The Weatern Powers, The United nations And The EU Continue To Tolerate The Terror Sponsor Erdogan And Turkey

BREXIT vs. GREXIT – The Truth About The European Union And How It Treats Members
The only thing that will halt the European Union in its tracks, stop the push beyond Europe's geographical borders and prevent EU expansion to incorporate Asian, middle eastern and north African nations is war. Unless the testicularly deficient politicians stand up to the bean counters of Brussels. That's what they are, bean counters; not one among them is a risk taker or a person who has advanced because of their willingness to put their arse on the line.

How Barack Obama Did Not Save The World (and he isn't desended from King Tut.
President Barack Obama boasted of his legacy during a question and answer session in Britain, asserting that he single- handedly saved the world during his presidency. “Saving the world economy from a Great Depression — that was pretty good,” Obama bragged when asked by a student in London what he wanted his legacy to be.

The Hypocrisy and Snobbery Of The Remain Campaign And The Antidote
When I had to defriend a Facebook contact because she was arguing in favour of the EU, it was not simply because I support Brexit that I had become pissed of with her, it was the snobbish and condescending way she dismissed supporters of LEAVE and their case. People are entitled to their opinion on the European Union, but they should check the 'facts' they post in support of their arguments.

The Labour Case For Brexit by Kate Hoey M.P.
After my short intro is a savage indictment by Brexit supporting Labour MP Kate Hoey of the way the Labour Party has abandoned the working class and is now trying to betray the party's proud heritage and its roots in the industrial areas by taking Britain into an undemocratic, corporate controlled, capitalist friendly, elite dominated globalist control freak project.

FBI Vows To Go Public If Obama Blocks Indictment Of Hillary
The only thing saving Hillary right now is the protection being given her by The Obama Administration. However, if Obama’s Attorney General, Loretta Lynch, does not follow her oath of office and indict Hillary Clinton, FBI investigators will go public with their findings, according to former US House of Representatives majority leader Tom DeLay.

Orlando Shooting: Eyewitness Testifies ‘More Than One Shooter’
Just as happened with the San Bernadino shooting in California and the Paris attacks of 2015, accounts of the incident in Orlando in May 2016 from people who were at the scene differ from the version of events given mainstream media. A victim of Sunday’s terror attack at the gave a bombshell interview to ABC news in which he alleged there were several terrorists rather than the lone gunman news reports describe.

The Tyranny of The Economics Academics Is Coming To An End
The pseudo-Keyneseanism peddled by economics academics has failed disastrously, at huge human cost and to the advantage of authoritarian tyrants around the world. At last, as the global economy totters on the brink of collapse, the economic idiocy looks to have entered its end days. The 'sound of the last trump' will probaly occur in early November this year.

NSA Planning To Exploit 'Internet Of Things' Including Biomedical Devices
The post might appear from the headline to be aimed primarily as a US audience, but with US Government Surveillance now global, other governments sharing data with the NSA and The Internet sliding its tentacles into domestic appliances, cars and even the plumbing in our houses it affects us all.

Is Bilderberg A Sinister Group That Runs The World Or Just A Tea Party For Rich And Powerful People
Are the Bilderberg Group meeting, this weekend in Dresden, Germany, really The Shadow Government (the New World Order, The Illuminati,) that rules the world?

It's That Bilderberg Time Of Year
Every year, the world's richest and most powerful business executives, bankers, media heads and politicians sit down in some luxurious and heavily guarded venue, and discuss how to steer the global economy in a way that maximizes profits for all involved, while perpetuating a status quo that has been highly beneficial for a select few, even if it means the ongoing destruction of the middle and working classes and the creation of a servile, uneducated, ill informed underclass, the 'proleteriat' of Karl Marx' writing.. We are talking, of course, about the annual, and always secretive, Bilderberg meeting.

EU's Bureaucratic Dictatorship Is Losing The Support Of The Most Loyal Nations
When the unelected bureaucrats of the European Union Commission decided, without consulting member states, to comply with the wishes of the warmongering rent - boy in The White House and impose sanctions on Russia, after Vladimir Putin ordered the annexation of Crimea (to prevent the US backed neo - fascist government in Kiev carrying out a genocide of ethnic Russians in Crimea,) the idiotic goons were as usual duped into doing Washington's dirty work.

What Did Donald Trump Say To Earn a Liberal Lynch Mob On His Case
Over in the good ol’ US of A the ‘progressive liberals’ as that failed state’s authoritarian reactionaries like to label themselves, are getting their knickers in a right old twist about alleged ‘racist’ remarks made by the presumptive Republican presidential candidate Donald Trump who said something unforgivable about a Hispanic US federal judge. So what exactly was it he said about this bean – bandit judge that led intellectuals and academics to call for his murder?

Adolf Hitler, His Part In Our Downfall

.pdf dowload
A thirty five thousand word book on the authoroitarian, undemocratic, bureaucratic dictatorship that is the European Union. Following the outburst of left wing hate politics following Boris Johnson's reminder that the EU has its roots in Hitler's Naziism, which as any intelligent person is aware is both true and very well documented. My blog colleagues and I decided to assemble this collection of our articles (with some long extracts quoted from public domain and creative commons sources) to help people misled by the REMAIN campaign into thinking the arguments are solely economic.

US Senators Attack Attorney General Loretta Lynch For Sanctioning With Hunt On Climate Change
Lawyers for Exxon Mobile went to court in Texas last month seeking to block a subpoena issued earlier this year by the attorney general of the U.S. Virgin Islands, which, alleging that the oil and petroleum giant is deceiving the public about the effects of climate change, demanded the company open its records to Department of Justice lawyers. Exxon responded by claiming that the subpoena is an unwarranted phishing expedition into Exxon's confidential records and as such violates its constitutional rights;

b>US Missile Shield; Loved Up Obama And Cameron Laugh As Putin Warns Poland, Romania Now In The "Cross Hairs"
No surprise then that during a joint press conference with Alex Tsipras in Greece, Putin warned Romania and Poland they could find themselves in the sights of Russian rockets because they are hosting elements of a U.S. missile shield that Moscow considers a threat to its security. Under the malign influence of Washington and Brussels these country's leaders have now exposed their people to the threat they most feared.

UK Conservative Politician Says Referendum Is An Establishment Stitch Up
Britain will be unable to stop Turkey from becoming a member of the European Union (EU), the Minister of State for the Armed Forces, Penny Morduant, has said. Predicting that up to a million Turkish people could come to the UK unless Britain votes to leave the EU in June, declared that the EU referendum is an “establishment stitch-up”.

EU Vows To Use Powers To Block All Elected ‘Far Right’ Politicians From Power
... populist social conservatives are regularly topping the polls across the Europe, but have been victims of EU orchestrated stitch ups to keep them out of power and ddeny the democratic will, in France, Sweden, Holland, and now Austria – and anti-migrant populists are already in power in Hungary, Poland, and the Czech Republic. Mr. Junker’s definition of “far right” is somewhat broad, noted by him previously describing Hungary’s conservative president, Viktor Orbán, as a "fascist".

As Conservative Candidate Moves ahead In Austria, Left Wing Lie Machine Goes Into Overdrive
In spite of blatantly biased reporting from The BBC, while print and commercial broadcast media virtually ignore the story, a result from the presidential election in Austria looks set to send shockwaves through Europe. The candidate referred to by the BBC as 'extreme right wing' looks to be heading for victory. Firstly, the candidate in question, Norbert Hofer, is not extreme, he is ...

Latest From Project Fear On Brexit Is Complete Bollocks
George Osborne and David Cameron warn more than a thousand jobs will be lost every day if Britain votes for Brexit. It’s just another lie, there is not one valid reason for Britain to stay in the embryonic Nazi empire that the European Union is set to become. The EU destroys jobs by making hiring workers difficult and expensive because of minimum wage and maximum working hours rules, because EU free trade policies make it too easy to offshore jobs ...

De-Petrodollar-ization Esclates - China Imports Record Amount Of Russian Oil In April
We have telling the world for years (and a few thousand of you each day are listening now) that Russia and China have been gradulally executing a plan to replace the the US dollar as global reserve currency. The US of course,as ever too arrogant to care because Americasn exceptionalism, has continued to boost the Russia -China alliance by provoking both with its ill - considered meddling in regional politics and destabilisation of sovereign states. Recall that ...

Germany Involved in NATO War Games Near Russian Border
More than 5,000 soldiers from Germany, Estonia, USA, Netherlands, Great Britain, Lithuania and Latvia are currently engaged in the NATO war games, according to DWN,. Operation "Spring Storm" is taking place 30 kilometers away from the Russian border and will go on until May 20.

Can this woman possibly be a fit and proper person to serve as President Of The USA
While US mainstream media have been obsessing over transgender rights and whether chicks-with-dicks should be allowed to use the same toilet facilities as women and little girls, the American democratic process has been dragged further into the mud (if that was possible) and the candidacy of Hillary Clinton look to be in greater jeopardy than ever despite her having almost certainly won the primaries campaign by a big enough majority of delegate to secure the nomination ...

Hollande Survives Confidence Vote As France Slides Deeper Into Chaos French President Francois Hollande suvived a 'no - confidence' vote today but now faces deepening divisions within his own party as well as in the French population. Continuing mass protests by students and trade union members showed the battle of over his reforms to the country's labour laws are far from finished. Hollande has hardened opposition to his reforms after bypassing the French parliament to push them through.

After Yugoslavia NATO changed from a mutual defence alliance to an organisation for military aggression.
After the break up of the Soviet Union, a point in history when many in the west mistakenly thought Russia had ceased to be a major power and the USA unilaterally declared victory in the cold war, people around the world looked forward to an era of peace and prosperity. They could not have been more wrong, in fact even the most cursory examination of history will show that Russia has seldom been an aggressor.

American GM Wheat Losing Out To Russian Organic Wheat In World Markets We've been trying to get the truth out on GM crops, loved by American corporate business, rent-a-quote scientists and politicians for several years. The massed ranks of big money and big politics are still ranged against us but it seems that one again we the New Media are winning. The more the 'experts', professors and politicians tell us genetically modified crops are good, the mor suspicious we become.

Former Equalities Chief Says ‘Superdiverse’ UK Will ‘Burn’
Unusually for a left wing figure and to his great credit, Mr. Phillips was admittting he had been wrong to argue in favour of mass immigration from theocratic Muslim nations, expressing his disgust at the racism, anti – semitism and wave of violent and sex crimes, and observing that he doubted Muslims can ever integrate into western society because of the difference in the mindset.

After Yugoslavia NATO changed from a mutual defence alliance to an organisation for military aggression.
After the break up of the Soviet Union, a point in history when many in the west mistakenly thought Russia had ceased to be a major power and the USA unilaterally declared victory in the cold war, people around the world looked forward to an era of peace and prosperity. They could not have been more wrong ...

European Parliament President Says ‘Vast Majority Of Europeans Do Not Want Borders’
The Europhile German Social Democratic Party (SPD) politician stated that if the populist, anti-mass migration Norbert Hofer becomes president "this will change Europe’s character". Last month Hofer came top in the first round of the Austrian elections, and in two weeks voters will go to the polls for the second round, to choose between the right wing FPO figure and his Green rival Alexander Van der Bellen as the nation’s next head of state.

Armed Forces Minister: Obama ‘Woefully Ignorant’ of Threat EU Membership Poses
Referring to a statement Mr Obama made in the Telegraph on Friday in which he said: “The European Union doesn’t moderate British influence – it magnifies it,” she responded: “Unfortunately this opinion betrays a woeful ignorance of the practical reality of the EU’s impact on our security, and the interests of the U.K. and the US.”

Wall Street 'Whistleblower' Exposes Clinton Foundation Fraud

The woman is a phoney, a self interested, self aggrandizing elitist with a sense of entitlement the size of a galaxy. Whatever Hillary does, and whatever minority group the claims she is acting in the interests of, you can bet the main beneficiaries are Hillary Clinton, her family and her cronies.
No surprise then that a whistleblower has exposed Hillary's charity, 'The Clinton Foundation as a fraud.

De Dollarisation Accelerates As Russia Prepares To Launch Ruble-Priced Oil Trading Platform Russia is ready to take the next step towards killing the petro-dollar and dumping the US$ as global reserve currency, a move we reported last year. Vladimir Putin's ruble-based pricing of its domestically-produced oil is on the verge of realization. SPIMEX (The St. Petersburg International Mercantile Exchange) is actively courting international oil traders to join its emerging futures market ...

Google Now Has Access To Millions Of Patient's Health Records


A controversial deal between tech giant Google and the National Health Service (NHS) will allow artificial intelligence units access to 1.6 million confidential medical records. Since 2014, Google has partnered with several scientists in an attempt to understand human health, but a new report reveals the data gathering goes far beyond what was originally anticipated - well now there's a surprise.

How Facebook, Instagram, Google, and Twitter Use Censorship to Kill Free Speech
A new study by Onlinecensorship.org — a collaborative effort between the Electronic Frontier Foundation (EFF) and Visualizing Impact reveals that social media sites and search engine operators have been collaborating closely with government agencies to control the type of content we may see online. Most readers will know of people who have been kicked off the social networking site for designated periods of time for ‘violating community standards' ...

EU Commission Backs Turkey Visa-Free Travel Amid Terrorist Cautions
As if the EU does not have enough problems of its own, the Bureaucrats of Brussels seem determined to take on the middle's east's perpetual violent chaos by granting Turkey the right of visa - free movement throughout the Schengen zone for its 70million citizens and tens of thousands of jihadists

German Justice Minister Runs From Stage As Angry Audience Members Yell "TRAITOR!"
The peoples' pushback against European federalisation and genocide of Europe's white working classes by flooding nation states with third world immigrants continues to gather pace as, with the onset of warmer weather, the flow of illegal immigrants into Europe starts to increase towards last year's levels.

TTIP document leak - A preview of the corporate fascism treaty from War On Want
The Trans Atlantic Trade and Investment Partnership (TTIP) was teetering on the brink of failure before Greenpeace Netherlands obtained a massive swathe of leaked documents that prove the treaty is, as many people feared, a corporate power grab rather than a free trade arrangement. This exposure will not stop the fascist regimes of the European Union and the United States trying to push it through against massive public opposition. The ruling elites have only contempt for democracy and the people

The ‘Colossal Unmentionable’ of the Climate Fraud
An incisive analysis from The Wall Street Journal that shows who and what will benefit from the great climate change scam (clue, it will not be the climateor the environment and it will certainly not be people like you and me.)

US-Created System In Iraq Is Collapsing: Protesters Storm Parliament
Less than two years ago, the US set up a puppet government in the mid-east state of Iraq when, following US pressure, on August 14, 2014 then prime minister al-Maliki agreed to stepped down and be replaced with Haider al-Abadi. Today, the regime is in chaos and the system set up by the US is collapsing. Yesterday protesters loyal to popular Shiite cleric Muqtada al-Sadr broke through a security cordon into the Green Zone, home to government buildings

So Long, Schengen: Six EU States to Resurrect National Borders in Mid-May

The governments of six European state have announced they will reinstate border controls as the immigration crisis starts to gather momentum once more with the onset of warmer weather. The authorities of Germany, France, Austria, Belgium, Denmark and Sweden are in favor of extending the temporary border controls within the European Union, which are due to expire in May, in the framework of the Schengen Borders Code rules, German media reported Saturday.

Obama Admin Denies Saying “No Boots on the Ground” in Syria After Saying It 16 Times This is our second report today that catches Barack Obama and his administration of 'homies' in a blatant lie. The first related to the TTIP trade treaty, this one concerns the decision to deploy American ground troops in Syria, after Obama had repeatedly stated there would never be any US soldiers on the ground in Syria

The Oligarchy Is Tottering - Trump Tramples The Neocons' "False Song Of Globalism"
Donald Trump scares the global establishment as do the anti Federalisation parties in the EU. We take a long and detailed look at why, and exactly what the globalist agenda would have meant for freedom and democracy had people not wonken up and opposed it in vast numbers. Kudos to the Islamic Jihad too, medievalist religious nuts they may be, but they resisted American attempt to impose western consumer culture on them.

The Pretensions Of Pop Culture And The Death Of Intellect

... It’s part of a distressing pattern these days of overwrought commentary about popular culture. As well as Beyoncé thinkpieces there are the Stars Wars thinkpieces, of course, and the Lana Del Rey thinkpieces or, God help us, even Kanye West thinkpieces. Don’t get me started on the fact that “thinkpiece” is now treated as if it were a single word...

FBI Drops Hints They Are Ready to INDICT Hillary Clinton
Sources close to the FBI investigation into Democratic Party presidential candidate Hillary Clinton's offences relating to national security when she was Secretary of State say the Feds are ready to indict the frontrunner in the nomination process on charges relating to classified information.

Europe Rejects Obama Doctrine - US Exceptionalism Is Not Acceptable
With a backlash against his efforts to bully Britons into voting to remain in the EU pushing the leave campaign into a narrow lead in opinion polls Obama's vistit to Europe last week could hardly be described as a success. And now he has been told a foreign policy based on 'American Exceptionalism' is not acceptable and the USA must abide by the same international law as the rest of the world

Illegal Immigrants, Bogus Refugees and Jihadist Asylum Seekers - Europes Self Engineered Crisis For a UK based libertarian site dedicated to promoting the traditional values of personal and national liberty, freedom of speech and thought and democratic rule accoring to the will of the majority, the social and economic disaster that is the consequence of the European Union's 'borderless world' project is a big news topic that will run for years. Here are the Greeneeth team's posts on Europe's Immigrant Crisis and The Islamification Of Europe

US Threat to Businesses Scares EU Members As Summit On Continued Sanctions Nears
Although the US and EU economic santions on Russia in retaliation for Moscow's annexation of Crimea to prevent a genocide of the ethnic Russian majority by the neo Nazi government installed in Kiev after a US engineered coup deposed the elected government, weaker European nations are spooked at the possibility of US retaliation if they do not obey Washington's diktat

Weather Channel Founder Slams Global Warming Fraud
The climate change lobby have been on the back foot for a long time as eminent scientists queued to be next to point out that when real world observations repeatedly contradict data produced by mathematical models run on university computer systems, any credible research team would take a long critical look at their models rather than adjusting the empirical data so it gives the required answer.

Lifelong Feminist Carmen Paglia Slams Hypocrite Hillary Clinton And Her 'Liberal' Supporters
As strong evidence emerges that the New York Democratic Primary election between Hillary Clinton and Bernie Sanders was rigged by the Democratic Party Nominations Committee in favour of their preferred candidate Clinton, America's hectoring on other nations on democracy are making it a laughing stock around the world.

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