Another day, another Trillion Dollars. President Obama is a nice guy. Silverwolf loves his generosity as he gives away our money to help our poor banking friends in Germany and France. It’s no wonder the Euro-Socialists were smiling “aux deux oreilles” — unto their two ears, at the conclusion of the G-20 meeting. With a deal like this, who wouldn’t smile.
Basically, Obama and Cardinal Geithner, his chief religious counselor when it comes to the economy (Rev. Wright imparted him with spiritual guidance long ago), and a worthy successor to Cardinals Richelieu and Mazarin, have given the European Central Bank and Trichet an easy out by committing to one Trillion dollars of new aid for the “developing economies”. This means that the Franco-Deutschland banks, won’t have to bite the bullet and eat the losses on their crummy exploitative loans to the up-and-coming in Hungary and Eastern Europa they were cleaning up on recently. The IMF, largely through American largess, will foot the bill, and the Euro-Socialists can go on their merry booze-filled way, giving their peoples all kinds of Socialist goodies once again, while Americans are forced to fight like ants struggling to get to the top of the ant heap, just to compete with the inflation which domestic welfare alone drives upwards. Food and healthcare costs already endanger anyone not on some kind of Socialist program in America, while those who are covered never experience the existential angst of being without any “safetynet” other than what their capital can procure on the no-longer free market. Now, our currency must be further debased because Obama wants to, or is willing to, let the Euros off the hook.
This Obama giveaway led to the Eurosocialist Central Bank not having to cut rates as much as they needed to, as a sop to Euro holders and savers. But of course, the strengthening this will cause in the Euro, if any, will probably be temporary, as their exports become even more uncompetitive in the universal global slowdown. Then they too will have to engage in that beautifully euphemistic phrase, “qualitative easing” — more bank talk for making the public poorer at the expense of the State.
The Socialists of Europe will make a pig’s breakfast of their EC Union, Silverwolf predicts, and it would collapse forthwith if it were not for American subsidies, both militarily to NATO, but now, also economically, through “injection” of IMF and Worldbank Funds.
By the way, if they are giving a Trillion, and China is giving $30 Billion of that, and there are 20 countries in the G20, and quite a few rather small, well, let’s see, if divied equally that would be 50 billion each,… yet if the richest creditor is only giving 30 … well, where is the rest coming from? Gold sales cover roughly a tenth, but who put up the other nine tenths?
Most of it, of course, will come from the future generations of US taxpayers and consumers (known familiarly to the FED members as “cons”, because they can be so easily conned) , either through higher taxes or through inflation. That is, if the American public continues to let itself be collectively fleeced like passive little lambs. But as taxes rise, people become more discontented. And they now know, after the AIG robbery, what is being done with the sweat of their brows. California, for example, has just increased its sales tax, and is shifting its income tax increases solely to the backs of the individual taxpayer, with absolutely no increase on corporations or businesses. At some point, that old Colonial outrage at unjust taxation will kick in, and then the Liberal politicians will see a political backlash that has been growing since the days of Senator Taft (Robert, not William Howard) and the founding of the Libertarian Party, and its philosophical sister-movement in the Republican Party, the Goldwater wing.
In the meantime, Bromide Obama, Helicopter Ben, and Cardinal Geithner will continue to distribute the largess of the American peasantry, as we so industriously slave to keep our Euro-brethren from suffering bank stock losses.
As Reverend Wright taught our new President, You are your Euro-Socialist Brother’s keeper.
Hoooooooooooooooooooooooowwwwwwwwwwwww! — Silverwolf
Tags: Cardinal Mazarin, Cardinal Richelieu, ECB, Euro currency, European Central Bank, European Socialism, G-20, G-20 meeting, IMF, IMF gold sales, President Obama, Treasury Secretary Geithner, Trichet, World Bank