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Global Elites Struggle to Keep EU, Euro Intact
Posted By aaron On July 5, 2010 @ 1:21 pm In Economic Crisis,Old Infowars Posts Style | Comments Disabled
James P. Tucker Jr.
American Free Press
July 5, 2010
Bilderberg members pushed hard in a frantic attempt to save the euro during the recent weekend-long economic summit in Toronto, but this action was ignored by the major media, which is under control of the secret group of international financiers and political czars.
“As the euro faces a challenge like none before, the question is whether it will last,” wrote Neil Irwin of the Bilderberg-controlled Washington Post way over in Frankfurt, Germany, as heads of state were gathering in Ontario, Canada’s largest city.
“The debt crisis that began in Greece and menaces half a dozen other European nations has caused the euro to lose 15 percent of its value relative to the dollar since January,” he wrote. “Some economists consider it obvious that the currency union will not survive in its present form, that one or more southern European nations will end up reverting to liras, pesetas and drachmas.”
What Irwin failed to write is that this is what was being said inside the Toronto G-20 summit.
As we go about our busy lives, the future of the euro and the European Union itself is being addressed in Toronto and Paris, with most leaders acting in unison in an effort to save the euro—which was high on the Bilderberg agenda in early June at their secretive meeting in Spain.
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Saving the euro appears to be critical to Bilderberg’s overall plans. Their shadowy schemes have been seriously set back in recent years, to maintain the European Union’s role as a single superstate and to create a parallel “American Union” that also would use a continental currency, the “amero.”
In a glass skyscraper in Paris, a Bilderberg-connected banker named Jean-Claude Trichet and his 16,000 employees are struggling to save the euro and promote the “amero.” The European Central Bank is under heavy pressure to save the euro. So Trichet’s bank is buying billions of euros worth of government bonds in an effort to stabilize markets. But this has generated new tensions as Germany objects, saying it is a violation of the central bank’s rules. Unlike Ben Bernanke’s Federal Reserve, the European Central Bank must strictly monitor inflation and is limited in the amount of euros it can loan into circulation.
As the economy fizzled further, Trichet decided that the goal of European unity was more important than the law and presented a compromise: They would buy bonds on the open market, not directly from governments, ducking the prohibition on funding government debt. At the same time, they would take other steps to avoid increasing the money supply to ease inflationary pressures.
In Toronto, Bilderberg-linked participants strongly supported Trichet’s money plan. “It’s the only way to save the euro, and without the euro, the European Union falls apart and the American Union never comes into existence” said one, echoing the agony expressed at Bilderberg’s meeting in Spain. “We can’t let that happen, ever.”
“Euro-area governments have effectively thrown away the rule book,” moaned Volker Wieland, an economist at Goethe University Frankfurt. “It’s a complete regime change. No bailouts and individual fiscal responsibility have been replaced with mutual guarantees” for government debt.
Bilderberg also is reportedly supporting strong international regulations on banks, as a step toward creating a world treasury department, which gained much approval in Toronto.
“The stakes are so high, I think the incentives are high to sort it out,” Wieland said.
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