Wednesday, December 12, 2012

Coming Soon: The United Banksters of Europe

The larger an area controlled by government, the greater the likelihood that the bad guys will attempt to get at that power center. Thus, it is alarming that the European Union bureaucrats are about to agree to a common bank supervisor.

 Germany signaled on Wednesday it is ready to back plans for the European Central Bank to be made the chief supervisor of banks, reports Reuters. This will mean behind the scenes rules designed by banksters for the benefit of banksters.

Finance Minister Wolfgang Schaeuble told the German cabinet he was "optimistic" about a deal ahead of a meeting of EU finance ministers in Brussels on Wednesday, a German official said, speaking on condition of anonymity, to Reuters.

"We hope for major progress and perhaps a breakthrough (in the talks)," he said. "We have some questions but if they can be resolved by finance ministers today then Germany will not stand in the way of an agreement."

Somewhere tonight banksters will be popping champagne.


  1. Do you mind refraining from constantly referring to anyone in finance as a "bankster"? I happen to work at a large American bank, and I can assure you I don't spend my days constantly scheming how to defraud people and enrich myself immorally.

    In addition to my work being honest and forthright, almost all of my colleagues are as well. I also happen to be just as passionate a libertarian, and believe greatly in Austrian economics and a truly competitive market.

    I understand the point you are trying to make, but sometimes it sounds like Elizabeth Warren's vocabulary than an Austrian economist/libertarian.

    1. I don't think he's referring to every teller and branch manager when he uses the term "bankster", so you're probably in the clear.

      Unless . . . is that you, Bernanke?