Hank Paulson-style fearmongering is desperate effort to save single currency, preserve plan for superstate
Paul Joseph Watson
Wednesday, September 7, 2011
In a similar vein to how Hank Paulson threatened martial law on the streets of America if the bailout failed to pass, top banks like UBS are now warning of “authoritarian or military government” and “civil war” in a bid to frighten away member states from leaving the euro.
It’s a transparent ploy designed to create the pretext for empowering the EU to enforce a common economic policy across all member states, something that British Prime Minister David Cameron is now openly backing.
In a UBS Investment Research release, the Swiss bank warns that should member states begin to desert the euro, precipitating a collapse of the single currency, “some form of authoritarian or military government, or civil war,” would likely ensue.
The tone of UBS’ advisory sounds very sobering and authoritative, but we’ve seen this type of financial fearmongering before, during the 2008 bailout debate, which was eventually rammed through on the back of bellicose threats about martial law and economic armageddon.
As Senator James Inhofe revealed, then Treasury Secretary Hank Paulson told members of Congress the crisis would be “far worse than the great depression” if Congress didn’t authorize the bill to buy out toxic debt, a proposal “which he abandoned the day after he got the money,” added Inhofe, referring to how immediately after it was approved, Paulson announced that the bailout money would not be used to buy up toxic debt but would instead be injected directly into banks like Goldman Sachs, at which he was a former CEO.
Lawmakers at the time were threatened with “martial law” and “troops on the streets” if they failed to vote for the bill, identical rhetoric we’re now hearing from UBS and others.
The Obama administration also used economic terrorism to get an agreement pushed through on the debt hike. While telling Americans that a new great depression could be just days away if a compromise wasn’t reached, Obama was privately telling big banks not to worry, assuring them that “such an event won’t happen.”
Billionaire investor George Soros has now joined the chorus, warning that the “crisis has the potential to be a lot worse than Lehman Brothers,” unless the European Union is handed more power to create a central economic authority.
Of course, the populations of Greece, Italy, Portugal and others would most likely not resort to mass rioting and civil war if the euro was to disappear. Most of them would welcome the return of their old traditional currencies and the value of goods and services would simply be re-valued accordingly.
There would be no mass panic, no civil unrest and no need for martial law, but the banking establishment has to make it appear that way in order to preserve the euro and keep the continent on track for a future amalgamation into a 4th Reich-style federal superstate, which was the agenda from the very beginning.
Paul Joseph Watson is the editor and writer for Prison Planet.com. He is the author of Order Out Of Chaos. Watson is also a regular fill-in host for The Alex Jones Show.
This article was posted: Wednesday, September 7, 2011 at 5:43 am