US, EU economies set to collapse


Press TV
December 10, 2011

Many experts believe that the sold out EU leaders’ failure to address the Block’s deepening financial recession may possibly end in collapse of an EU dream.

In the meantime, professionals believe that the EU leaders’ failure to deal with the core issue, which, they say, is the endless rise of unrepeatable debt, is considered the same as, digging the hole still deeper, which may, eventually lead to disintegration of the Union and put an end to its common currency.

Press TV has interviewed Rodney Shakespeare, professor of Binary Economics, from London

Following is a transcription of the interview.

Press TV: Ok, Rodney Shakespeare, let me ask you what Germany wants to do, ask German taxpayers to bailout the Euro, only if the euro countries agree to iron clad fiscal rules, which removes, euro countries budgetary powers and it commits tens of millions of people to years of austerity. Isn’t that kind of the game plan that Germany has ?

Rodney Shakespeare: the Europeans are in a hole and digging deeper, alternatively you can say, they have got their heads in the sand and their bottoms up in the air. Either way, they have now completely and utterly sold out, to Goldman Sachs and the bankers; and the result is going to be, that the people of Europe are going to lose their jobs, lower standard of living, lower pensions, more trouble, or go on for decades.

So I am afraid, that is the basic situation, and as regards to the UK, we are already ruled by the bankers who are trying to be in charge using the financial system to control everybody else. The situation is quite disgraceful, we have to throw off this global elite, and go to a new paradigm of thinking.

But at this moment there is not the slightest sign of any new thinking or addressing the underline problem, which as Max has indicated, is in fact an endless rise of unrepayable debt.

Press TV: Rodney Shakespeare, roughly, just a couple of hours back, interesting piece of news coming from an orthodox source, and that is from a US military officer, General Martin Dempsey, who has said, extraordinary concern about the viability of the Euro because of the potential for civil unrest and the breakup of the European Union.

Rodney Shakespeare: Yes , at the moment the Americans have tended to be blaming the Europeans, but of course, the Americans are just as much part of this collapsing fraudulent system as the Europeans, but he is quite right.

I think that Europe is going to collapse, and when, for example, the bonds etc are defaulted, that is going to hit the derivatives, commitments of the American banks and is going to be big, big trouble. If you look at it, if only a tiny percentage of the derivatives go wrong, three or four percents of the total might be equivalent to nearly the same as the world’s GDP.

Press TV: but how about the fact that is the American general, I am sorry to jump in, why would American General, come up with a warning like that, isn’t that signifying something there?

Rodney Shakespeare: It is signifying something, not only awareness of the overall connections, but of course what is also happening, is America in particular, incited by the Zionist entity, is going for war as a means of hiding the whole thing up.

The Americans want to blame Europe, and then when the blame comes back to them, then they’ll be going to war, that is the underlying reason, why they are heating up the tension at this moment and of course it can easily get completely out of hand.

Press TV: So, Rodney Shakespeare, is the United States and the UK, then on one side and Europe on another side? Is this breakup of Europe, from, in this case, within Europe from the UK and then with the United States?

Rodney Shakespeare: well , I think there is going to be divisions with the breakup in Europe, but it is the whole system, which is going down; a system which relies on, endlessly creating money, compound interest, and putting it for anything, except the real economy.

And since they are not going to address that, it really does not matter which way it goes, The thing is going down, and war is going to be the way they are going to hide it.

The one thing they are not going to do is to challenge the bankers, the way they should do, is in fact, to control the bankers, and then get the national banks to issue interest free loans for public capital projects, for micro credit, for environmental capital projects, for spreading the ownership in the big and medium cooperation’s, and they can use that same mechanism to get with their national debt.

But they are not going to do that, because, they are controlled by the mindset of interest and of sucking the wealth up to that one percent and they are not going to change that. Until they do, Europe has had it and ordinary people have had it, in the USA, where it is getting worse and worse, and in Europe.

Press TV:Rodney Shakespeare, I am going back to UK, and the fallout geopolitically speaking for the decision that the prime minister David Cameron has taken, I mean, they do, after all have represented, at least a portion of the contribution based on trade or what have you, so now, with this to have occurred, how are other countries supposed to react, economically speaking, in terms of financially at least, with the UK – isn’t that going to drive the UK into a deeper recession?

Rodney Shakespeare: There is a deepening recession going on right across Europe and our exports are going to be held back, and yes we are part of the whole downward turn. Just one quick point on Europe, they are now going to have decisions by completely unelected bureaucracy, with that Belgian twit Ron Frey running it all.

There is going to be huge political tensions between the people who do not want this centralization and people who are suffering the economic consequences. So I see high stress and breakup of some sort coming for Europe.


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