Best of the Week
Most Popular
1. 2019 From A Fourth Turning Perspective - James_Quinn
2.Beware the Young Stocks Bear Market! - Zeal_LLC
3.Safe Havens are Surging. What this Means for Stocks 2019 - Troy_Bombardia
4.Most Popular Financial Markets Analysis of 2018 - Trump and BrExit Chaos Dominate - Nadeem_Walayat
5.January 2019 Financial Markets Analysis and Forecasts - Nadeem_Walayat
6.Silver Price Trend Analysis 2019 - Nadeem_Walayat
7.Why 90% of Traders Lose - Nadeem_Walayat
8.What to do With Your Money in a Stocks Bear Market - Stephen_McBride
9.Stock Market What to Expect in the First 3~5 Months of 2019 - Chris_Vermeulen
10.China, Global Economy has Tipped over: The Surging Dollar and the Rallying Yen - FXCOT
Last 7 days
Risk/Reward in Silver Favors Buying Now, Not Waiting for Big Moves - 23rd Mar 19
Similarities Between Stock Market Today and Previous Bull Market Tops - 23rd Mar 19
Stock Market DOW Seasonal Trend Analysis - 23rd Mar 19
US Dollar Breakdown on Fed Was Much Worse Than It Looks - 23rd Mar 19
Gold Mid-Tier GDXJ Stocks Fundamentals - 23rd Mar 19
Which Currency Pairs Stand to Benefit from Prevailing Risk Aversion? - 23rd Mar 19
If You Get These 3 Things Right, You’ll Never Have to Worry About Money - 22nd Mar 19
March 2019 Cryptocurrency Technical Analysis - 22nd Mar 19
Turkey Tourist Fakes Market Bargains Haggling Top Tips - 22nd Mar 19
Next Recession: Finding A 48% Yield Amid The Ruins - 22nd Mar 19
Your Future Stock Returns Might Unpleasantly Surprise You - 22nd Mar 19
Fed Acknowledges “Recession Risks”. Run for the Hills! - 22nd Mar 19
Will Bridging Loans Grow in Demand and Usage in 2019? - 22nd Mar 19
Does Fed Know Something Gold Investors Do Not Know? - 21st Mar 19
Gold …Some Confirmations to Watch For - 21st Mar 19
UKIP No Longer About BrExit, Becomes BNP 2.0, Muslim Hate Party - 21st Mar 19
A Message to the Gold Bulls: Relying on the CoT Gives You A False Sense of Security - 20th Mar 19
The Secret to Funding a Green New Deal - 20th Mar 19
Vietnam, Part I: Colonialism and National Liberation - 20th Mar 19
Will the Fed Cut its Interest Rate Forecast, Pushing Gold Higher? - 20th Mar 19
Dow Jones Stock Market Topping Pattern - 20th Mar 19
Gold Stocks Outperform Gold but Not Stocks - 20th Mar 19
Here’s What You’re Not Hearing About the US - China Trade War - 20th Mar 19
US Overdosing on Debt - 19th Mar 19
Looking at the Economic Winter Season Ahead - 19th Mar 19
Will the Stock Market Crash Like 1937? - 19th Mar 19
Stock Market VIX Volaility Analysis - 19th Mar 19
FREE Access to Stock and Finanacial Markets Trading Analysis Worth $1229! - 19th Mar 19
US Stock Markets Price Anomaly Setup Continues - 19th Mar 19
Gold Price Confirmation of the Warning - 18th Mar 19
Split Stock Market Warning - 18th Mar 19
Stock Market Trend Analysis 2019 - Video - 18th Mar 19
Best Precious Metals Investment and Trades for 2019 - 18th Mar 19
Hurdles for Gold Stocks - 18th Mar 19
Pento: Coming QE & Low Rates Will Be ‘Rocket Fuel for Gold’ - 18th Mar 19
"This is for Tommy Robinson" Shouts Knife Wielding White Supremacist Terrorist in London - 18th Mar 19
This Is How You Create the Biggest Credit Bubble in History - 17th Mar 19
Crude Oil Bulls - For Whom the Bell Tolls - 17th Mar 19
Gold Mining Stocks Fundamentals - 17th Mar 19
Why Buy a Land Rover - Range Rover vs Huge Tree Branch Falling on its Roof - 17th Mar 19
UKIP Urged to Change Name to BNP 2.0 So BrExit Party Can Fight a 2nd EU Referendum - 17th Mar 19
Tommy Robinson Looks Set to Become New UKIP Leader - 16th Mar 19
Gold Final Warning: Here Are the Stunning Implications of Plunging Gold Price - 16th Mar 19
Towards the End of a Stocks Bull Market, Short term Timing Becomes Difficult - 16th Mar 19
UKIP Brexit Facebook Groups Reveling in the New Zealand Terror Attacks Blaming Muslim Victims - 16th Mar 19
Gold – US Dollar vs US Dollar Index - 16th Mar 19
Islamophobic Hate Preachers Tommy Robinson and Katie Hopkins have Killed UKIP and Brexit - 16th Mar 19
Countdown to The Precious Metals Gold and Silver Breakout Rally - 15th Mar 19
Shale Oil Splutters: Brent on Track for $70 Target $100 in 2020 - 15th Mar 19
Setting up a Business Just Got Easier - 15th Mar 19
Stock Market Elliott Wave Analysis Trend Forercast - Video - 15th Mar 19
Gold Warning - Here Are the Stunning Implications of Plunging Gold Price - Part 1 - 15th Mar 19
UK Weather SHOCK - Trees Dropping Branches onto Cars in Stormy Winds - Sheffield - 15th Mar 19
Best Time to Trade Forex - 15th Mar 19
Why the Green New Deal Will Send Uranium Price Through the Roof - 14th Mar 19
S&P 500's New Medium-Term High, but Will Stock Market Uptrend Continue? - 14th Mar 19
US Conservatism - 14th Mar 19
Gold in the Age of High-speed Electronic Trading - 14th Mar 19
Britain's Demographic Time Bomb Has Gone Off! - 14th Mar 19
Why Walmart Will Crush Amazon - 14th Mar 19
2019 Economic Predictions - 14th Mar 19
Tax Avoidance Bills Sent to Thousands of Workers - 14th Mar 19

Market Oracle FREE Newsletter

Stock Market Trend Forecast March to September 2019

Greece: Dump the EU Now For An Economic Recovery!

Politics / Eurozone Debt Crisis May 18, 2012 - 02:40 AM GMT

By: Ron_Holland

Politics

Best Financial Markets Analysis Article"Attempts to form a government in Greece collapsed on Tuesday, jolting financial markets at the prospect leftists opposed to the terms of an EU bailout could sweep to victory in a June election and nudge the euro zone crisis into a dangerous new phase." – CNBC


Why should the Greek people be financially destroyed and rendered destitute by forced German and Brussels EU austerity measures and more loans designed only to pay the interest on the debt to the big banks? What if the banking and media establishment are dead wrong about nations withdrawing from the Euro like they have from the beginning of the crisis? I suggest a strong economic recovery is the likely result rather than depression as forecast by experts working for the banks that have enslaved Greece.

What Would You Do?

Let's assume you were very unsophisticated regarding real estate and you lived off a $30,000 annual income. Then assume you purchased a home in the US during the Federal Reserve-created housing bubble for $500,000 with 2% down. Your real estate agent and mortgage broker said, "Don't worry. We will take care of the details." Later, you discover your signature was forged and they showed your annual income as $300,000 annually.

Now you find out the real value is only $50,000 and there are numerous liens and defects and you don't even have clear title to the asset. The bank and credit providers are threatening to take everything you have saved in your lifetime because you are behind on your loan payments.

What would you do? Given this situation most rational people would stop making payments, withdraw from the fraudulent contract and sue those who misrepresented the entire deal for fraud. This is a very simplistic version of what has happened to most nations inside the EU. The citizens never voted on or understand the contract giving away national sovereignty. The entire deal, including the sovereign debt, was fraudulent and sold so banks and politicians could benefit.

Recovery is Only Possible Outside the Euro and After Sovereign Debt Repudiation

Many EU member states should simply withdraw from and repudiate the failed monetary and political experiment that the European Union has become. In addition, Greece should repudiate the excessive sovereign debts owed primarily to German banks and restore an independent Greek currency, the Drachma, at a lower and more favorable exchange rate to stimulate tourism and foreign investment. Yes, there will be a short-term drop in the Greek economy but this would quickly be over in contrast to the EU-created death spiral Greece has been forced to endure over the last few years and that will continue into the future.

Despite all the warnings by the establishment, I urge the Greek people, as well as the suffering populations of Spain, Italy, Ireland and other nations, to dump their politicians chained to the EU and march to a different tune on the right and left.

The world knows Greek politicians are corrupt and owned by major financial interests.

Like most politicians in the West, they will tend to choose the near-term course of action that provides them the most graft and payoffs. You can't sue politicians but nations can stop paying fraudulent sovereign debts if the people press hard enough. History shows us that politicians can actually on occasion even become patriots if their political future is at risk and their financial gravy train is about to leave the station.

I believe the EU siren call for Greek austerity and bailout is just a political disguise for more fleecing of the populace through fears of government bankruptcy in order to steal more wealth and cut more benefits, while the real solution for most nations is to tax and steal less and reduce bloated programs and benefits. The way out for Greece and most other European nations is to withdraw from both the Euro and EU and do the above after repudiating the sovereign debt and becoming debt-free nations.

Even Germany Will Leave the Euro

In the final analysis I agree with my friend John Browne's forecast Friday on CNBC. He currently serves as Senior Market Strategist for Euro Pacific Capital, Inc. and also as our Chairman of the Board for Biologix Hair Inc. in Toronto.

He warned that not only would Greece and other nations withdraw from the Euro but in the end Germany is also likely to pull out and restore the D-Mark before the EU crisis has run its course.

The ultimate solution for all government debt is always pay off, repudiate or hyperinflation hence the impasse in EU Land. No nation has ever paid off their national debt, the citizens generally benefit from repudiation over hyperinflation but central banks always use inflation as the solution. Due to rather recent German history the German people will never allow any government to sanction high rates of inflation.

The EU was a vehicle designed to control all of Europe but the German people will not stand for the massive money creation and ultimate inflation necessary to preserve the failed European Union and inflate away the massive sovereign debts of nations in the EU.

Maybe History Will Repeat Itself in Reverse

Almost 100 years ago, the victorious allies and their banking elites used the Treaty of Versailles to plunder the wealth of Germany and its citizens, who were no more guilty of this terrible war than were the allies. It has not been long enough for them to have forgotten the drift towards extremism, anger at those who plundered their nation and finally, the rise of Hitler and National Socialism. The German people will surely demand withdrawal from the Euro and a return to the currency credibility of a restored D-Mark (Deutsche Mark) backed in some way by gold. The alternative is to risk a return to the 1930's and the Germans have not forgotten that mistake.

I would suggest that at the next federal election in Germany in the fall of 2013 Chancellor Merkel will likely be repudiated at the polls because of the EU problems. She and her party alliance will be forced from power as her dream for a German-led Europe through the European Union crumbles like so many grandiose plans of earlier empires. Remember, 70 years earlier in 1933 another chancellor was swept into power because of government debts, hyperinflation and outside meddling. It did not end well for Germany.

Get Out of the EU Now While You Still Can Peacefully

I know many citizens across the European Union are wondering, "How did we get here?"

They think it can't get any worse so maybe they should remain in the EU because the establishment experts warn of bankruptcy, currency crisis and the usual doom and gloom should the Euro be dumped.

As an American, I know from our history that the determination of a power elite to maintain control over taxpayer territory at any cost in terms of lives, economic destruction and violence is always far stronger than the public realizes. We are now celebrating the 150th anniversary of our Civil War that destroyed the Southern economy for a century and killed 600,000 Americans, North and South.

No, it wasn't really a civil war and the media establishment never mentions the death toll of the war. Also, the major causes of the war that had more to do with the establishment of a central bank, railroad profits and government revenue have been hidden from view.

But the winners always write the history and unless individual European nations get out of the European Union modeled on the American Union quickly, your nations may never leave without a war you are likely to lose. So get out of the Euro and EU now while you still can.

Ron Holland [send him mail], a retirement consultant, works in Zurich and is a co-editor of the Swiss Mountain Vision Newsletter. He is the author of the special report, "Get Ready To Escape the Obama Retirement Trap" and you can email him for the complete report.

    © 2012 Copyright Ron Holland - All Rights Reserved
    Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules