Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stocks Correct into Bitcoin Happy Thanks Halving - Earnings Season Buying Opps - 4th July 24
24 Hours Until Clown Rishi Sunak is Booted Out of Number 10 - UIK General Election 2024 - 4th July 24
Clown Rishi Delivers Tory Election Bloodbath, Labour 400+ Seat Landslide - 1st July 24
Bitcoin Happy Thanks Halving - Crypto's Exist Strategy - 30th June 24
Is a China-Taiwan Conflict Likely? Watch the Region's Stock Market Indexes - 30th June 24
Gold Mining Stocks Record Quarter - 30th June 24
Could Low PCE Inflation Take Gold to the Moon? - 30th June 24
UK General Election 2024 Result Forecast - 26th June 24
AI Stocks Portfolio Accumulate and Distribute - 26th June 24
Gold Stocks Reloading - 26th June 24
Gold Price Completely Unsurprising Reversal and Next Steps - 26th June 24
Inflation – How It Started And Where We Are Now - 26th June 24
Can Stock Market Bad Breadth Be Good? - 26th June 24
How to Capitalise on the Robots - 20th June 24
Bitcoin, Gold, and Copper Paint a Coherent Picture - 20th June 24
Why a Dow Stock Market Peak Will Boost Silver - 20th June 24
QI Group: Leading With Integrity and Impactful Initiatives - 20th June 24
Tesla Robo Taxis are Coming THIS YEAR! - 16th June 24
Will NVDA Crash the Market? - 16th June 24
Inflation Is Dead! Or Is It? - 16th June 24
Investors Are Forever Blowing Bubbles - 16th June 24
Stock Market Investor Sentiment - 8th June 24
S&P 494 Stocks Then & Now - 8th June 24
As Stocks Bears Begin To Hibernate, It's Now Time To Worry About A Bear Market - 8th June 24
Gold, Silver and Crypto | How Charts Look Before US Dollar Meltdown - 8th June 24
Gold & Silver Get Slammed on Positive Economic Reports - 8th June 24
Gold Summer Doldrums - 8th June 24
S&P USD Correction - 7th June 24
Israel's Smoke and Mirrors Fake War on Gaza - 7th June 24
US Banking Crisis 2024 That No One Is Paying Attention To - 7th June 24
The Fed Leads and the Market Follows? It's a Big Fat MYTH - 7th June 24
How Much Gold Is There In the World? - 7th June 24
Is There a Financial Crisis Bubbling Under the Surface? - 7th June 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Ominous Parallels: The Roman Empire, The European Union, And Mass Migration

Politics / Immigration Nov 16, 2015 - 04:09 PM GMT

By: John_Rubino

Politics

This weekend’s Paris attacks, occurring in the middle of one of history’s largest mass-migrations, has the feel of uncharted territory. But it’s actually an eerie echo of something that happened nearly two thousand years ago in more-or-less the same place.


According to some historians, the fall of the Roman Empire wasn’t pre-ordained. By AD 300 it had its problems, including far-flung, hard-to-defend borders and recurring currency crises, but was generally stable and prosperous. Then a new power arose in the East. The Huns were horse archers who could out-ride and out-shoot their neighbors, and they terrorized the Vandals and Goths who lived in what is now Germany and the Balkans, driving them west to Rome’s borders.

Rome chose to let half a million “barbarians” enter, hoping to use them as soldiers and laborers. Instead, it found itself with invading armies and unstable, uncontrollable political coalitions. The complete story is winding, convoluted and full of unfamiliar names, but it ends with the division of the Empire into two parts and the destruction of the original, Italian half. Here’s a History Channel synopsis of the process:

The arrival of the Huns and the migration of the Barbarian tribes

The Barbarian attacks on Rome partially stemmed from a mass migration caused by the Huns’ invasion of Europe in the late fourth century. When these Eurasian warriors rampaged through northern Europe, they drove many Germanic tribes to the borders of the Roman Empire. The Romans grudgingly allowed members of the Visigoth tribe to cross south of the Danube and into the safety of Roman territory, but they treated them with extreme cruelty. According to the historian Ammianus Marcellinus, Roman officials even forced the starving Goths to trade their children into slavery in exchange for dog meat. In brutalizing the Goths, the Romans created a dangerous enemy within their own borders. When the oppression became too much to bear, the Goths rose up in revolt and eventually routed a Roman army and killed the Eastern Emperor Valens during the Battle of Adrianople in A.D. 378. The shocked Romans negotiated a flimsy peace with the barbarians, but the truce unraveled in 410, when the Goth King Alaric moved west and sacked Rome. With the Western Empire weakened, Germanic tribes like the Vandals and the Saxons were able to surge across its borders and occupy Britain, Spain and North Africa.

For more, see the Wikipedia entry on the sack of Rome

Obviously this isn’t an exact fit — especially the part about the existing empire being in fairly good shape, since clearly today’s eurozone has some other potentially fatal flaws. But the part about the rise of a new enemy in the West causing a mass-migration into “civilized” Europe, which opens its borders in order to obtain cheap labor without offering what the newcomers view as full rights of citizenship, is close enough to provide some useful insight.

Meanwhile, the differences between now and then make the current situation even scarier. Automatic weapons and home-made bombs give five or six angry people the ability to wreak havoc on thousands. And the advent of dirty bombs threatens make the next attack effectively permanent by irradiating whole city blocks.

But the most ominous difference is that even in the absence of a million refugees at the border, the eurozone as now configured is doomed. Debt is soaring, populations are aging, the periphery can’t function in a German-style monetary regime and the main political parties are too wedded to the status quo to offer effective solutions. This, in short, is a mess without an obvious fix.

By John Rubino

dollarcollapse.com

Copyright 2015 © John Rubino - 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.


© 2005-2022 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