“Cry ‘Havoc!’, and let slip the dogs of war”
The world is on a very short fuse to global war, instigated by London and Wall Street in their desperation to avert a loss of power, as their trans-Atlantic financial empire goes down in flames. Indicative of the growing hysteria and desperation was a weekend column by London Telegraph columnist Ambrose Evans- Pritchard, a well-known mouthpiece for British intelligence, who said that the collapse of European bond yields is unprecedented since the Fourteenth Century Black Death. What Pritchard and the Sunday New York Times called the danger of deflation is actually a total collapse of the real economies of the European nations.
And now, with Greece on the verge of leaving the Euro-system and repudiating the Troika’s austerity policies, there is panic that the contagion of that pending development will spread throughout Europe, starting with Italy, Portugal, Spain, and, perhaps, even France.
In Germany an unprecedented public brawl has erupted around the Merkel government’s austerity recipe for the Mediterranean countries of the Euro-zone. For the first time, German officials, including one of Merkel’s top economic advisors, Michael Fuchs, are openly saying that Greece can split out of the euro without causing a larger crisis. SPD coalition partners, who reject that fantasy, are furious that the statements were issued without consultation.
There is little confidence anywhere in this claim of European financial stability, and both Pritchard and the New York Times on Sunday implored European Central Bank head Mario Draghi to live up to his promise to do “whatever is necessary” to save the euro. That means a massive quantitative easing program of hot money printing, which Pritchard says is too little, too late.
It is precisely that QE madness that has created the biggest Wall Street debt bubble in history—a bubble that is also on the very edge of explosion. The continuing collapse of the oil price, through conscious Anglo-Saudi manipulation, is threatening to detonate a $20 trillion Wall Street derivatives bubble, built up around the U.S. and Canadian shale oil and gas scam.