Monday, August 27, 2012

The Banksters Have Gotten to the Right German

Germans citizens are against bailouts of Greece, Italy and Spain. They have been the cog in the wheel that has prevented all out European Central Bank money printing. That may be changing. The most important German, who will have the most say with regard to ECB money printing, is now in favor of bailouts and money printing.

NYT writes:
A top German official at the European Central Bank on Monday defended the bank’s plans to intervene in bond markets as a way of pushing down borrowing costs for business and encouraging economic growth. It is a position that puts him at odds with the president of Germany’s own central bank and highlights a growing split in the country’s policy-making elite.

Jörg Asmussen, a German who is a member of the E.C.B.’s executive board, said during a speech in Hamburg that bond buying by the European bank had become necessary because distortions in the market for government debt had interfered with monetary policy and prevented cuts in official interest rates from trickling down to companies that need credit.

By framing the issue as a matter of business growth, rather than government bailouts, Mr. Asmussen seemed to be taking a stance that might appeal to German political opponents of market intervention by the E.C.B. — of which Germany is the biggest financial contributor.
Up until now, German Chancellor Angela Merkel has only given in at the last minute to short-term bailouts, but now it looks like the fix is in and the big move is about to be made. Merkel and Asmussen appear ready to support major ECB money printing.

NYT again (my bold):
Mr. Asmussen’s remarks came only a day after Jens Weidmann, president of the German central bank, the Bundesbank, fiercely criticized plans by the E.C.B. to intervene in bond markets.

The stark difference in views between the two officials is surprising because they have been seen as close allies. They both studied economics at the University of Bonn, and both served as high-ranking officials in the German government — Mr. Asmussen as a top aide in the Finance Ministry, and Mr. Weidmann as economics advisor to Chancellor Angela Merkel — before becoming central bankers.

In recent days Ms. Merkel has moved carefully away from hard liners who argue that troubled euro zone countries must largely solve their own problems. On Monday a leader of her governing coalition repeated her warning to party members to stop speculating about Greece leaving the euro.

“I believe that at the end of the day, everyone has to ask themselves the basic question, Do we want a currency union and do we want to take all responsible steps possible to maintain this currency union?” said Michael Meister, one of the leaders of the conservative caucus in the German Parliament.

Ms. Merkel and Mr. Asmussen operate in different policy spheres, and Mr. Asmussen is formally supposed to represent all of Europe and not just Germany. But their alignment on this issue provides a counterweight to the school of thought represented by Mr. Weidmann.
Bottom line: The great euro inflation appears to be on the launching pad


  1. I am betting Ange has the inside tip on what the German High Court will hand down. By appearing as the dove at the time the decision is handed down she can wash her hands and say "not mea culpa". She plays the middle game and is a master at giving everyone what they want.

    Any doubts on what decision the court will hand down regarding the constitutionality of the EFSF for Germans?

  2. Thanks for your post.

    It was known and presented in bible prophecy by the prophet Daniel, as he wrote in Daniel 2:30-33, that regional economic and trading blocs will rise to replace sovereign nation states as leaders announce regional framework agreements to pool sovereignty regionally as capitalism and European socialism is dying on the failure of the world central banks to stimulate global growth and corporate profitability.

    All nations worldwide are starting to lose their sovereign authority and their debt sovereignty. Rainer Buergin of Bloomberg reports Germany, France Reconnect in a Push for Crisis Solutions. Germany and France agreed to drive ahead measures on closer European integration in a renewed show of unity by the region’s two biggest economies to fix the crisis in the euro zone. German Finance Minister Wolfgang Schaeuble, speaking after talks in Berlin today with his French counterpart, Pierre Moscovici, said the two countries will create a working group to advance European Union cooperation on banking union, fiscal union and the strengthening of monetary union.

    We are witnessing bible prophecy of Revelation 6:1-2, being fulfilled, as the baton of sovereignty is being passed from sovereign nation states, such as the US, the UK, Spain, Italy, and Greece, to regional sovereign bodies and leaders. The economy of God, that is the administration plan of Christ, Ephesians 1:10, is at work to establish regional economic and political governance, as foretold in Daniel 2:30-33. The Beast Regime of Neoauthoritarianism is rising from the profligate Mediterranean Sea country of Greece, and the failed industrial nation of Italy, as foretold in bible prophecy of Revelation 13:1-4. New centralized monetary authority is coming in the EU, and with it, the diktat money system, which will replace the fiat money system. Diktat will serve as both money and credit.

    Angela Merkel is a precursor, that is an antecedent, of one greater, that is the Sovereign, foretold in Revelation 13:1-4, and his partner, the Seignior, Revelation, 13:11-18. Angela Merkel is much like what John the Baptist was to Jesus Christ; one who comes before to herald one more powerful. Germany will rise to be preeminent over vassal peripheral client states in a type of revived Roman Empire. John the Revelator communicates that after Financial Armageddon, that is a global credit and economic collapse, that people will be place such trust in the Beast Regime of regional governance, that it will constitute worship, Revelation 13:3.

    Best Regards