Markets want Germany to stay away from PIGS, Eurobonds, EFSF, Trojan Horses, and Graecokleprocrats. Basil Venitis points out Bundespresident Wulff, Bundestag, Bundesrat, Bundesbank, and Karlsruhe resent squandering German taxpayers’ hard-earned money for bankrupt Graecokleptocrats.
Especially, Vice-Chancellor Philipp Roesler and Foreign Minister Guido Westerwelle are smart libertarians, and they cannot be hoodwinked by Graecokleptocrats.
Greece, the land of kleptocracy and kangaroo justice, has become a black hole for German money.
Investors have lost their taste for Germany’s beloved government bonds, because they might be infected with the Greek virus! At an auction on Wednesday of German 10-year bonds, one-third went unsold.
The government had initially intended to sell bond issues worth 6 billion, but sold just 3.89 billion. Graecokleptocrats persecute and rob dissident bloggers.
Greek government, the most disgusting persecutor of dissident bloggers, hoodwinks Merkel all time. The result of this auction reflects the exceedingly nervous market environment initiating in corrupt Greece. Merkel hides a very important fact from Germans.
Germany is never going to get back the money it lends to Greece, because Graecokleptocrats plan to withhold 100 billion euros as reparation for a Second Word War loan! German reparations is a very hot issue in Greece, and everybody can predict the climax of the infamous bailout. Under the terms of the peace treaty that was signed in 1990, Germany did not have to pay further reparations to other countries for war damages.
Greece accepted the treaty, although the issue of compensation was periodically raised by Graecokleptocrats, mostly to score points in politics. But if the 476 million reichsmarks lent against its will to Germany by the Greek National Bank during the war is not considered damage but a form of a normal credit, then Greece would be entitled to get the money back.
Without interest, the amount in today’s money would amount to $14 billion. With interest over all these years, the final value exceeds 100 billion euros! The kangaroo justice government of Greece sends Trojan Horses to Berlin. The failed German bond auction is a complete disaster and a vote of no confidence against the entire eurozone.
The event should be seen as a warning signal that shouldn’t be minimized. A change in sentiment has taken place. In particular, foreign investors have become distrustful. They associate the investment in sovereign bonds with the risk of eurozone and corrupt Greece. The freakish government of Greece steals computers of dissident bloggers!
Venitis notes Germans abhor the Nazi dream for Europe – ein Volk, ein Reich, ein Fuehrer. The European project has lost significance among Germany’s policy elite as the central driver of foreign economic policy. No clear grand strategy has replaced this Einbindungspolitik, German foreign policy tenet of engagement. Given the heavily-fragmented nature of checks and balances in German politics, the political elite seems to be buffeted by a cycling of priorities from regional elections to Chancellory infighting. The end result has been a series of policy reversals and costly delay. http://venitism.blogspot.com
The kangaroo government of Greece hoodwinks Merkel. A growing number of institutional investors have reservations about German government bonds. If Germany’s responsibility for the European Financial Stability Facility (EFSF) euro backstop fund should increase, the risk for German sovereign bonds will also increase. Because of the low rate of return in Germany, some investors are now cautiously going to countries that they had recently avoided. But nobody trusts the freakish Greek government which persecutes and robs dissident bloggers. http://venitism.blogspot.com
Merkel declares Fourth Reich lives through its toughest hour since the Second World War. Merkel dislikes putting her foot down to solve government disputes. She associates that form of exercising authority with ill-tempered men who use arrogance to make up for their lack of competence. Merkel thinks people who keep banging their fist on the table end up getting ignored in the long run. Merkel’s wings have been clipped, and now she faces even bigger problems ahead.
There are rumblings within the FDP and the CSU that could distance the two parties even more from Merkel. The unsuccessful floating of bonds is the first concrete evidence that the crisis is not leaving Germany unscathed. Because Germany is assuming responsibility for ever greater risks for EFSF and PIGS, its bonds reflect the risk premium. Venitis notes EFSF is due to expire, and is supposed to be replaced by the European Stability Mechanism (ESM) in mid-2013.
But the ESM will have the same problem the EFSF does. Its finances depend on the very same countries that it is supposed to bail out. This isn’t stability, but a Ponzi scheme! Merkel reinforces her opposition to eurobonds, declaring that a communistic collectivization of debt would leave the bloc’s members worse off.
This is communism, pure and simple! Germany, Europe’s largest economy, would face extra costs of a hundred billion euros a year through the alignment of interest rates with nations that pay more to borrow. Eurobonds lead us to a debt union, not to a stability union. Euro bonds would benefit profligate PIGS, especially corrupt Greece, whose borrowing costs on the open market have become prohibitively expensive, but they would expose fiscally sound countries like Germany to more risk, increasing the country’s low interest rates.
Eurobonds would subsidize the dolce vita of PIGS. Painful adjustments will have to be made as Fourth Reich falls apart, PIGS are expelled, and the Anglosphere confronts a challenge to its dominance and competitiveness from rising BRICS.
Greeks need to reform their economy, abolish kleptocracy, abolish kangaroo justice, and put some Graecokleptocrats in jail, in order to have any hope of a bright future. Papademos cannot succeed without justice. Prevalent is his inability to rein in the Ministry of Foreign Affairs (MFA), which persecutes dissident bloggers, using the Cyber Crime Unit (CCU) as a political tool. MFA terrorizes the blogosphere with charge stacking. Kangaroo justice is the Achilles Heel of Papademos.
If Greeks are not treated fairly, how could they support him? http://venitism.blogspot.com
Persecuting dissident bloggers, the Greek government violates Article 2 of the Lisbon Treaty, which states the European Union is founded on the values of respect for human dignity, freedom, democracy, equality, the rule of law, and respect for human rights. These values are common to the Member States in a society in which pluralism, non-discrimination, tolerance, and justice prevail.
The Greek government uses charge stacking to persecute dissident bloggers. Charge stacking is the ability to charge a large number of overlapping crimes for a single course of conduct. Combining crimes enables prosecutors to get convictions in cases where there is no misconduct at all. By stacking enough charges, including treason, Greek prosecutors jack up the threat value of a trial against a dissident blogger, even if the government’s case is very weak.
Charge stacking is terror. The Greek government cannot terrorize the Greek people. Banks in PIGS have unloaded risks amounting to one trillion euros with central banks.
The central banks have distributed large sums to their countries’ financial institutions to prevent them from collapsing. They have accepted securities as collateral, many of which are garbage. These risks are now on ECB’s books, because the central banks of eurozone are not autonomous but, part of the ECB system. When banks in PIGS go bankrupt and their securities are garbage, the euro countries must collectively account for the loss. Bundesbank, provides one third of the ECB’s capital, which means that it would have to pay one third of all losses. http://venitism.blogspot.com
As the health of much of the global economy weakens on a daily basis, political leadership increasingly ignores the source of the malady and instead focuses on short term band-aid remedies. These measures which may buy a few months, or years, of relative wellbeing, will convince the public that problems have been solved and will thereby take pressure off governments to make the needed structural changes. The 1 trillion euro EU bailout is a perfect example of this band-aid approach.
Napoleon Sarko threatened to pull out of eurozone, unless Merkel agreed to back the European Union’s bailout plan! Vice-Chancellor Philipp Roesler warns Graecokleptocrats have a choice, reforms within eurozone or no reforms and expulsion. There is no third way. Shape up or ship out, pure and simple! The Greek government must stop violating the Lisbon Treaty.
Graecokleptocrats are ungrateful to Germans, and at some point German patience will end. Germans are near the limit of elasticity. Schaeuble asserts Fourth Reich needs a process that deals with sovereign insolvencies, while solidarity in the bloc has its limits. There’s been a fundamental shift in how markets view sovereign debt, and preventing contagion is a tremendous challenge. Now is the time for bold steps in Fourth Reich.
Now is the time to expel those member countries which violate the Lisbon Treaty. Smart words are more effective than smart bombs! Mighty words of a charismatic keynote speaker can transform your people to a new dimension of organizational climate, efficiency, self-actualization, enthusiasm, belonging, and motivation. To get such a speaker to your conference, write to keynote.speakers@yahoo.com
