The terms of a full-blown bailout of Spain are under discussion, reports Reuters' man in Madrid, Julien Toyer. The preferred option is for the EFSF to buy Spanish debt directly from the government while the ECB props up the secondary market. No decision is expected before mid-September. [View news story]
Let their be no mistake who is in control, certainly NOT China.
The US keeps loading the bong for China, China keeps "shotgunning" and that is EXACTLY the plan.
Germany is broke, full stop.
The US wants to have as much debt to China as is possible.......before they change to the NEW (US currency) in the middle of the night.
I have been writing about this for 3 years. Currency swaps are done @ 50% of face value, so US debt to China is wiped out by 50% just by the announcement of the new currency, nu?
THEN, the US sets limits on exchange, and bangs them (China) out of another 15-20%, and sets limits on the new currency, which of course will also be the new world currency, was their any doubt?
NOTE: GAO FED Audit Report pgs. 130-131 (see who owes the FED money, to the tune of 16 TRIL USD).
FED is now "de facto" OWNER of the EU, again all according to plan.
The terms of a full-blown bailout of Spain are under discussion, reports Reuters' man in Madrid, Julien Toyer. The preferred option is for the EFSF to buy Spanish debt directly from the government while the ECB props up the secondary market. No decision is expected before mid-September. [View news story]
They will simply borrow it from the US FED, AGAIN.
EU is already bought and paid for, they will NEVER be able to service their debt to FED, that was the whole plan.
The terms of a full-blown bailout of Spain are under discussion, reports Reuters' man in Madrid, Julien Toyer. The preferred option is for the EFSF to buy Spanish debt directly from the government while the ECB props up the secondary market. No decision is expected before mid-September. [View news story]
The terms of a full-blown bailout of Spain are under discussion, reports Reuters' man in Madrid, Julien Toyer. The preferred option is for the EFSF to buy Spanish debt directly from the government while the ECB props up the secondary market. No decision is expected before mid-September. [View news story]
Attend a meeting.
Germany doesn't have to ratify anything, this is a fantasy they have that they are running the EU, they are not. More tough talk from the weakest country in the EU, with the highest debt.
At 9 Trillion Euros, Germany accounts for 75% of all EU Debt combined, role model my eye.
FREE LAW LESSON: * IF the EU / EC / ECB with European Supervisory Authority, says it goes, then it goes, full stop.
Germany is ONLY a subordinate member state, and their Constitutional Court has ONLY "national authority", meaning "good ONLY in Germany".
Germany's vote is not needed to pass any legal order, full stop.
Angela Merkel is due to host Francois Hollande in Berlin today, when they will attempt to agree on a common position on Greece. Yesterday, eurogroup Chief Jean-Claude Juncker told the Greeks they have a "last chance" to avert bankruptcy. German officials have said in recent days that Greece, which wants more time, could receive concessions if it demonstrates a desire to achieve its main bailout goals. [View news story]
What happened to the hardline comments Fr. Merkel made? Greece will get NOTHING?
Guess everyone is forced to follow the orders of their "handlers", nu?
Siemens (SI) is reportedly in talks about cutting thousands of jobs due to the weak economy, especially in Europe. The conglomerate, which recently warned that its FY goals will be difficult to achieve, will make any decisions in the autumn. Siemens has over the last 15 months been on a hiring spree, increasing employee numbers by 23,000. [View news story]
Who mentioned this 100,000 times in the last 3 years?
They (SIEMENS) are under investigation again as well, why was that left out?
Still operating in Iran, and still servicing contracts. So, if banks are going to be held accountable for dealing with Iran (illegal under UN Sanction), then why does SIEMENS get a pass?
Is it a conflict of interest to build a Nuclear Reactor for Iran, and a Nuclear Submarine for Israel at the same time?
Shouldn't Germany be held accountable, seeing as they are a member nation of the UN Security Council?
Isn't this a bit like running with scissors?
An additional 23,000 layoffs in addition to the 28,000 from last year, down 67% for Quarter, year-on year, short this stock if you have a brain.
Remember, SIEMENS has their hand in EVERY German Industry segment, as well as COMPLETE INFRASTRUCTURE, you'll want to be short there as well.
DISCLAIMER: Couldn't give me ANY German stock for free.
Siemens (SI) is reportedly in talks about cutting thousands of jobs due to the weak economy, especially in Europe. The conglomerate, which recently warned that its FY goals will be difficult to achieve, will make any decisions in the autumn. Siemens has over the last 15 months been on a hiring spree, increasing employee numbers by 23,000. [View news story]
In addition, Deutsche Post, Deutsche Borse, Deutsche Telekom arebig losers today.
Relevant, as they are among SIEMENS largest customers, as are the German automakers, re: VW.
Keep an eye on VW as well, those sales numbers are highly suspect.
* Thousands of vehicles that were reported as sold are still on dealership lots being advertised for sale as new, something BMW just got pinched for in Detroit. This is common practice among German automakers to be able to compete with their US counterparts.
Acres of cars parked in storage at Ports in Germany have also been reported as sold, yet they await export.
Can Germany quit lying about ANYTHING, just for one (1) day?
German manufacturing PMI dropped to 43.0 in July from 45.0 in June, reaching its lowest level since June 2009. "Manufacturers linked the latest setback to shrinking export sales and a general shortage of new work to replace completed projects... job shedding was the most marked since the start of 2010." (PR .pdf) [View news story]
Couldn't agree more.
They better get used to that barrel, looks like they will be in it for a while.
With Deutsche Bank now reporting YET ANOTHER Quarterly loss, (4th in a row) of a STAGGERING 60%, and still down 50% of it's share price, year-on-year.
This should be the headline of every paper in the western world, but it's not.
*Check their balance sheet, a lousy 54 BIL in Total Equity, on Assets of 2.13 TRIL?!!
Weighing The Week Ahead: Counting Too Much On Central Bankers? [View article]
First Rule: Whatever I like or do not like is not being mentioned in this forum. These are merely facts pertaining to the subject matter of the thread, and are neutral in nature.
ANYONE knows that a Central Bank is not above politics.
But the ECB as an "independent institution"?
(Maybe, according to Wikipedia, as most laypersons would be led to believe.)
Free Law lesson: The ECB takes it's ORDERS from the EC,..... AND, the ECB is governed by European Law....... DIRECTLY...... full stop.
*If you are involved in Public Policy / Monetary Policy at ANY level, you will understand the comment.
More of your Wiki-ness: The ECB " is the institution of the European Union (EU)" that administers the monetary policy of the 17 EU Eurozone Member States.
*HOWEVER, it is the European Commission (EC) which does the day-to-day work of running the EU. This effectively makes the EC, the "mothership" as it were.
(This can be verified by ANY Member of the Governing Council, Executive Board, or General Council.)
We are all aware (especially those of us directly involved, please spare us the "lesson") that Germany does not play well with others, and have been "anti-ECB" since Mr. Draghi took office.
*This is because it ended Germany's reign of terror, as the key holder of the ECB, often using it as their "personal cash register", as the recipient of numerous "soft loans" made overnight, and quietly kept out of the Press.
NOTE: Nothing new for Germany, as their alleged "strongest bank" Deutsche Bank has taken another Quarterly beating, losing a MASSIVE 60%, (down some 50% year on year.) You see, as Germany no longer has the keys to the shop (ECB), they can't fund their last 2 banks any longer, and with Deutsche Bank getting ready to default on their "secret loan" from the FED to the tune of $354 BIL USD, they are ready to go face down, unless the FED takes them over. Deutsche Bank LOVES to keep telling the story of how they were the ONLY bank not to receive "state funding" during the crisis, this is of course a lie. (German State-owned collateral was put up for them to receive the loan, Deutsche Bank is 30% "nationalized".)
See GAO FED AUDIT Pgs. 130-131
Despite Germany's CONSTANT attempts to meddle in ECB affairs, they are now being schooled, the taste is bitter, and they had better get used to it, as their economy rapidly unravels due to stricter transparency measures. It was no coincidence that Mr. Draghi, (GS Alumni) got that position. They finally realized the advantage of placing a "real banker" at the wheel who is consequent, unlike Weber who was deemed "unfit" for the job.
Deutsche Bank (DB): Q2 net income of €661M. Net revenues of €8B. Core Tier 1 ratio of 10.2%. Pretax earnings at the asset and wealth management arm fell to €35M from €227M in the year-earlier period. Pretax profit at the corporate banking and securities arm came in at €357M, down from €969M in the year-earlier period. (PR) [View news story]
Let the drunk guy drive, eh?
How can DB still be afloat losing that much money?
Weighing The Week Ahead: Counting Too Much On Central Bankers? [View article]
Point 1)
That's the problem, Germany needs a lesson in law. We know their universities are sadly lacking, but one needn't be a legal savant to understand the process, especially since the EC / EU have dumbed it down "ad nauseam", and Germany STILL doesn't get it.
Bearing this in mind, the ECB DOES NOT need cooperation of ANY other Euro Leaders to undertake ANY bold measures, as they are the SUPREME and ULTIMATE AUTHORITY in th EU, Germany knows this, it was explained to them when they signed up as a Member State, nobody twisted their arm.
ONLY the EC, can grant full EUROPEAN SUPERVISORY AUTHORITY, under this Authority are EC / EU / ECB / EBA / ESRB.
NOTE: NO individual subordinate EU Member State can defy this authority. This is why when we ( EC / EU / ECB / EBA ) enter the room, ANY and ALL EU Member Heads of State, are required to stand, as through this authority, they are subordinate to us. Higher pushes to lower, NEVER the other way around.
They (EC/EU) do not ASK, they ORDER LAWFULLY, full stop.
Point 2)
The German Constitutional Court, (Bundesverfassungsgeri... Karlsruhe, is a LOWER SUBORDINATE court, with respect to the EC / ECB. Germany's subordinate "national" supervisory authority, is ONLY lawful within it's OWN boarders, AND European Law supersedes the LOWER SUBORDINATE German National Law, full stop.
NOTE: There are three types of EU legislative acts. Under Article 288 of the Treaty on the Functioning of the European Union (TFEU):
1) A regulation shall have general application. HOWEVER, it shall be binding in its entirety and DIRECTLY applicable in ALL EU MEMBER STATES.
2) A directive shall be BINDING, as to the result to be achieved, upon each Member State to which it is addressed, but shall leave to the national authorities the choice of form and methods. HOWEVER, this does not mean they can attempt to change the directive, rather ONLY the method of delivery within it's OWN boarders.
3) A DECISION SHALL BE BINDING IN IT'S ENTIRETY. A decision which specifies those to whom it is addressed shall be binding on them.
FURTHER:
1) Regulations are DIRECTLY applicable and (are supposed to) become law UNIFORMALLY and AUTOMATICALLY in ALL EU MEMBER STATES without needing further implementation, this is of course too complicated for Germany to wrap their minds around, and only serve to perpetuate their primitive defiance, in an attempt to control and manipulate the weaker periphery.
2) The European Communities Act 1972 (ECA) as amended, allows EU specified instruments to become part of German law WITHOUT the need for separate enactment of each and every EU instrument.
Section 2(1) of the ECA, gives the statutory authority for Treaty Provisions and DIRECTLY applicable Secondary Legislation (e.g. regulations) AUTOMATICALLY, to have legal effect in German domestic law without further enactment.
SUMMARY:
It was ANTÓNIO VITORINO (member of the European Commission from 1999 to 2004) who said it best:
"Germany is experiencing its ‘unipolar moment’ in Europe: the German government and administration are not yet wholly comfortable with this situation, which carries dangers for the cohesion and consistency of the European project. Germany, in foreign policy as well as in economics, can exert decisive leadership in the EU, but it has to want this. All other member states recognize the "de facto" leadership position of Germany, but it is often reluctant to assume the full range of consequences.
Moreover, Germany has to be careful not to turn its back on its European partners when using economic means to pursue its foreign policy ends."
The Age Of The Dollar Is About To End [View article]
Wasn't a connection, was an observation as I cannot tell if flow5 is aware, and I was simply pointing it out.
FOR THE RECORD: not left or right, actually the only member of "read what is written" party, also known as the "anti-stupidity" party.
Since most of the country's documents were written by men with a 3rd grade education, let's just read what they wrote and quit adding warped ideologies to the mix. SCOTUS can let those Justices go, we do not need their "opinions" (read IDEOLOGIES), we can decipher what we need from the facts.
I am a Lawyer / Policy Administrator / Economist, not a puppet. I am not POTUS material, as I think for myself, am extremely consequent, do not follow orders (rather give them), OH, and I am a Veteran, one thing which excludes you from Office of POTUS.
This means I am OVERQUALIFIED to be POTUS, besides I couldn't afford the pay cut.
It is therefore, my opinions too are biased, and far too old fashioned for most ears in the US. I do believe however, that we should make it MANDATORY for ALL US Citizens, to know how their country works. This is of course the single biggest cause of argument in the US as most mouth off about a system they do not understand, (yourself excluded of course), I address the layfolk here.
The Age Of The Dollar Is About To End [View article]
It's called Democracy and that's what happens when you lean far left, and it allows the debauching of a currency.
Seems most people are confused and actually think the word "democracy" is a good word, when it is actually evil incarnate.
The chief characteristic and distinguishing feature of a Democracy is: Rule by Omnipotent Majority.
In a Democracy, The Individual, and any group of Individuals composing any Minority, have no protection against the unlimited power of The Majority. It is a case of Majority-over-Man.
In both the Direct type and the Representative type of Democracy, The Majority’s power is absolute and unlimited; its decisions are unappealable under the legal system established to give effect to this form of government. This opens the door to unlimited Tyranny-by-Majority. This was what The Framers of the United States Constitution meant in 1787, in debates in the Federal (framing) Convention, when they condemned the "excesses of democracy" and abuses under any Democracy of the unalienable rights of The Individual by The Majority.
Democracy simply means control by majority, your individual voice, vote, existence mean NOTHING.
So praytell, why the shock that FED is in control? No hidden forces involved at all, it's quite transparent. The devaluation of the USD is common knowledge, it's being done for a reason, a currency swap, been going on, or are you too young to remember the events that took place shortly before JFK was killed. Executive Order 11110.
On June 4, 1963, President John F. Kennedy signed Executive Order No. 11110 [see transcript below] that returned to the U.S. government the power to issue currency, without going through the Federal Reserve (US Central Bank). Mr. Kennedy's order gave the Treasury the power "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This meant that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation.
As a result, more than $4 billion in United States Notes were brought into circulation in $2 and $5 denominations [See photo below]. $10 and $20 United States Notes were never circulated but were being printed by the Treasury Department when Kennedy was assassinated. Executive Order 11110 TRANSCRIPT AMENDMENT OF EXECUTIVE ORDER NO. 10289 AS AMENDED, RELATING TO THE PERFORMANCE OF CERTAIN FUNCTIONS AFFECTING THE DEPARTMENT OF THE TREASURY. By virtue of the authority vested in me by section 301 of title 3 of the United States Code, it is ordered as follows: SECTION 1. Executive Order No. 10289 of September 19, 1951, as amended, is hereby further amended - (a) By adding at the end of paragraph 1 thereof the following subparagraph (j): (j) The authority vested in the President by paragraph (b) of section 43 of the Act of May 12, 1933, as amended (31 U.S.C. 821 (b)), to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury not then held for redemption of any outstanding silver certificates, to prescribe the denominations of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption, and (b) By revoking subparagraphs (b) and (c) of paragraph 2 thereof. SECTION 2. The amendment made by this Order shall not affect any act done, or any right accruing or accrued or any suit or proceeding had or commenced in any civil or criminal cause prior to the date of this Order but all such liabilities shall continue and may be enforced as if said amendments had not been made.
The terms of a full-blown bailout of Spain are under discussion, reports Reuters' man in Madrid, Julien Toyer. The preferred option is for the EFSF to buy Spanish debt directly from the government while the ECB props up the secondary market. No decision is expected before mid-September. [View news story]
The US keeps loading the bong for China, China keeps "shotgunning" and that is EXACTLY the plan.
Germany is broke, full stop.
The US wants to have as much debt to China as is possible.......before they change to the NEW (US currency) in the middle of the night.
I have been writing about this for 3 years. Currency swaps are done @ 50% of face value, so US debt to China is wiped out by 50% just by the announcement of the new currency, nu?
THEN, the US sets limits on exchange, and bangs them (China) out of another 15-20%, and sets limits on the new currency, which of course will also be the new world currency, was their any doubt?
NOTE:
GAO FED Audit Report pgs. 130-131 (see who owes the FED money, to the tune of 16 TRIL USD).
FED is now "de facto" OWNER of the EU, again all according to plan.
The terms of a full-blown bailout of Spain are under discussion, reports Reuters' man in Madrid, Julien Toyer. The preferred option is for the EFSF to buy Spanish debt directly from the government while the ECB props up the secondary market. No decision is expected before mid-September. [View news story]
EU is already bought and paid for, they will NEVER be able to service their debt to FED, that was the whole plan.
Now, watch FED start cracking that whip.
The terms of a full-blown bailout of Spain are under discussion, reports Reuters' man in Madrid, Julien Toyer. The preferred option is for the EFSF to buy Spanish debt directly from the government while the ECB props up the secondary market. No decision is expected before mid-September. [View news story]
The terms of a full-blown bailout of Spain are under discussion, reports Reuters' man in Madrid, Julien Toyer. The preferred option is for the EFSF to buy Spanish debt directly from the government while the ECB props up the secondary market. No decision is expected before mid-September. [View news story]
Germany doesn't have to ratify anything, this is a fantasy they have that they are running the EU, they are not. More tough talk from the weakest country in the EU, with the highest debt.
At 9 Trillion Euros, Germany accounts for 75% of all EU Debt combined, role model my eye.
FREE LAW LESSON:
* IF the EU / EC / ECB with European Supervisory Authority, says it goes, then it goes, full stop.
Germany is ONLY a subordinate member state, and their Constitutional Court has ONLY "national authority", meaning "good ONLY in Germany".
Germany's vote is not needed to pass any legal order, full stop.
Getting Tricked By Financial Ratios: Microsoft, Cablevision [View article]
Later in your course of study, should that be Economics, that will be covered. Websites are tripe, get the REAL education.
Angela Merkel is due to host Francois Hollande in Berlin today, when they will attempt to agree on a common position on Greece. Yesterday, eurogroup Chief Jean-Claude Juncker told the Greeks they have a "last chance" to avert bankruptcy. German officials have said in recent days that Greece, which wants more time, could receive concessions if it demonstrates a desire to achieve its main bailout goals. [View news story]
Guess everyone is forced to follow the orders of their "handlers", nu?
Not the man you thought she was, is she?
Getting Tricked By Financial Ratios: Microsoft, Cablevision [View article]
P/E was out in 1960, WAY before your time.
Nobody "gets tricked", they let themselves "be tricked".
With the amount of info available, there is clearly no excuse for a "bad investment".
Siemens (SI) is reportedly in talks about cutting thousands of jobs due to the weak economy, especially in Europe. The conglomerate, which recently warned that its FY goals will be difficult to achieve, will make any decisions in the autumn. Siemens has over the last 15 months been on a hiring spree, increasing employee numbers by 23,000. [View news story]
They (SIEMENS) are under investigation again as well, why was that left out?
Still operating in Iran, and still servicing contracts. So, if banks are going to be held accountable for dealing with Iran (illegal under UN Sanction), then why does SIEMENS get a pass?
Is it a conflict of interest to build a Nuclear Reactor for Iran, and a Nuclear Submarine for Israel at the same time?
Shouldn't Germany be held accountable, seeing as they are a member nation of the UN Security Council?
Isn't this a bit like running with scissors?
An additional 23,000 layoffs in addition to the 28,000 from last year, down 67% for Quarter, year-on year, short this stock if you have a brain.
Remember, SIEMENS has their hand in EVERY German Industry segment, as well as COMPLETE INFRASTRUCTURE, you'll want to be short there as well.
DISCLAIMER:
Couldn't give me ANY German stock for free.
Siemens (SI) is reportedly in talks about cutting thousands of jobs due to the weak economy, especially in Europe. The conglomerate, which recently warned that its FY goals will be difficult to achieve, will make any decisions in the autumn. Siemens has over the last 15 months been on a hiring spree, increasing employee numbers by 23,000. [View news story]
Relevant, as they are among SIEMENS largest customers, as are the German automakers, re: VW.
Keep an eye on VW as well, those sales numbers are highly suspect.
* Thousands of vehicles that were reported as sold are still on dealership lots being advertised for sale as new, something BMW just got pinched for in Detroit. This is common practice among German automakers to be able to compete with their US counterparts.
Acres of cars parked in storage at Ports in Germany have also been reported as sold, yet they await export.
Can Germany quit lying about ANYTHING, just for one (1) day?
German manufacturing PMI dropped to 43.0 in July from 45.0 in June, reaching its lowest level since June 2009. "Manufacturers linked the latest setback to shrinking export sales and a general shortage of new work to replace completed projects... job shedding was the most marked since the start of 2010." (PR .pdf) [View news story]
They better get used to that barrel, looks like they will be in it for a while.
With Deutsche Bank now reporting YET ANOTHER Quarterly loss, (4th in a row) of a STAGGERING 60%, and still down 50% of it's share price, year-on-year.
This should be the headline of every paper in the western world, but it's not.
*Check their balance sheet, a lousy 54 BIL in Total Equity, on Assets of 2.13 TRIL?!!
http://bit.ly/MRrBQy
Somebody at DB may soon be on Bernie Madoff's dance card.
Somehow, Germany always gets a pass, and nobody sees the disaster that's coming. What will they do, can't invade Poland again, or?
Or will they get into bed with Russia, China, N.Korea, Iran again, like they did on the Libyan Arms Embargo?
Berlin may soon become a topic at the next NATO Summit.
Weighing The Week Ahead: Counting Too Much On Central Bankers? [View article]
ANYONE knows that a Central Bank is not above politics.
But the ECB as an "independent institution"?
(Maybe, according to Wikipedia, as most laypersons would be led to believe.)
Free Law lesson:
The ECB takes it's ORDERS from the EC,..... AND, the ECB is governed by European Law....... DIRECTLY...... full stop.
*If you are involved in Public Policy / Monetary Policy at ANY level, you will understand the comment.
More of your Wiki-ness:
The ECB " is the institution of the European Union (EU)" that administers the monetary policy of the 17 EU Eurozone Member States.
*HOWEVER, it is the European Commission (EC) which does the day-to-day work of running the EU. This effectively makes the EC, the "mothership" as it were.
(This can be verified by ANY Member of the Governing Council, Executive Board, or General Council.)
We are all aware (especially those of us directly involved, please spare us the "lesson") that Germany does not play well with others, and have been "anti-ECB" since Mr. Draghi took office.
*This is because it ended Germany's reign of terror, as the key holder of the ECB, often using it as their "personal cash register", as the recipient of numerous "soft loans" made overnight, and quietly kept out of the Press.
NOTE:
Nothing new for Germany, as their alleged "strongest bank" Deutsche Bank has taken another Quarterly beating, losing a MASSIVE 60%, (down some 50% year on year.) You see, as Germany no longer has the keys to the shop (ECB), they can't fund their last 2 banks any longer, and with Deutsche Bank getting ready to default on their "secret loan" from the FED to the tune of $354 BIL USD, they are ready to go face down, unless the FED takes them over. Deutsche Bank LOVES to keep telling the story of how they were the ONLY bank not to receive "state funding" during the crisis, this is of course a lie. (German State-owned collateral was put up for them to receive the loan, Deutsche Bank is 30% "nationalized".)
See GAO FED AUDIT Pgs. 130-131
Despite Germany's CONSTANT attempts to meddle in ECB affairs, they are now being schooled, the taste is bitter, and they had better get used to it, as their economy rapidly unravels due to stricter transparency measures. It was no coincidence that Mr. Draghi, (GS Alumni) got that position. They finally realized the advantage of placing a "real banker" at the wheel who is consequent, unlike Weber who was deemed "unfit" for the job.
Deutsche Bank (DB): Q2 net income of €661M. Net revenues of €8B. Core Tier 1 ratio of 10.2%. Pretax earnings at the asset and wealth management arm fell to €35M from €227M in the year-earlier period. Pretax profit at the corporate banking and securities arm came in at €357M, down from €969M in the year-earlier period. (PR) [View news story]
How can DB still be afloat losing that much money?
60% losses, it's time to s-can someone, surely?
Weighing The Week Ahead: Counting Too Much On Central Bankers? [View article]
That's the problem, Germany needs a lesson in law. We know their universities are sadly lacking, but one needn't be a legal savant to understand the process, especially since the EC / EU have dumbed it down "ad nauseam", and Germany STILL doesn't get it.
Bearing this in mind, the ECB DOES NOT need cooperation of ANY other Euro Leaders to undertake ANY bold measures, as they are the SUPREME and ULTIMATE AUTHORITY in th EU, Germany knows this, it was explained to them when they signed up as a Member State, nobody twisted their arm.
ONLY the EC, can grant full EUROPEAN SUPERVISORY AUTHORITY, under this Authority are EC / EU / ECB / EBA / ESRB.
NOTE:
NO individual subordinate EU Member State can defy this authority. This is why when we ( EC / EU / ECB / EBA ) enter the room, ANY and ALL EU Member Heads of State, are required to stand, as through this authority, they are subordinate to us. Higher pushes to lower, NEVER the other way around.
They (EC/EU) do not ASK, they ORDER LAWFULLY, full stop.
Point 2)
The German Constitutional Court, (Bundesverfassungsgeri... Karlsruhe, is a LOWER SUBORDINATE court, with respect to the EC / ECB. Germany's subordinate "national" supervisory authority, is ONLY lawful within it's OWN boarders, AND European Law supersedes the LOWER SUBORDINATE German National Law, full stop.
NOTE:
There are three types of EU legislative acts. Under Article 288 of the Treaty on the Functioning of the European Union (TFEU):
1) A regulation shall have general application. HOWEVER, it shall be binding in its entirety and DIRECTLY applicable in ALL EU MEMBER STATES.
2) A directive shall be BINDING, as to the result to be achieved, upon each Member State to which it is addressed, but shall leave to the national authorities the choice of form and methods. HOWEVER, this does not mean they can attempt to change the directive, rather ONLY the method of delivery within it's OWN boarders.
3) A DECISION SHALL BE BINDING IN IT'S ENTIRETY. A decision which specifies those to whom it is addressed shall be binding on them.
FURTHER:
1) Regulations are DIRECTLY applicable and (are supposed to) become law UNIFORMALLY and AUTOMATICALLY in ALL EU MEMBER STATES without needing further implementation, this is of course too complicated for Germany to wrap their minds around, and only serve to perpetuate their primitive defiance, in an attempt to control and manipulate the weaker periphery.
2) The European Communities Act 1972 (ECA) as amended, allows EU specified instruments to become part of German law WITHOUT the need for separate enactment of each and every EU instrument.
Section 2(1) of the ECA, gives the statutory authority for Treaty Provisions and DIRECTLY applicable Secondary Legislation (e.g. regulations) AUTOMATICALLY, to have legal effect in German domestic law without further enactment.
SUMMARY:
It was ANTÓNIO VITORINO (member of the European Commission from 1999 to 2004) who said it best:
"Germany is experiencing its ‘unipolar moment’ in Europe: the German government and administration are not yet wholly comfortable with this situation, which carries dangers for the
cohesion and consistency of the European project. Germany, in foreign policy as well as in economics, can exert decisive leadership in the EU, but it has to want this. All other member
states recognize the "de facto" leadership position of Germany, but it is often reluctant to assume the full range of consequences.
Moreover, Germany has to be careful not to turn its back on its
European partners when using economic means to pursue its foreign policy ends."
The Age Of The Dollar Is About To End [View article]
FOR THE RECORD: not left or right, actually the only member of "read what is written" party, also known as the "anti-stupidity" party.
Since most of the country's documents were written by men with a 3rd grade education, let's just read what they wrote and quit adding warped ideologies to the mix. SCOTUS can let those Justices go, we do not need their "opinions" (read IDEOLOGIES), we can decipher what we need from the facts.
I am a Lawyer / Policy Administrator / Economist, not a puppet. I am not POTUS material, as I think for myself, am extremely consequent, do not follow orders (rather give them), OH, and I am a Veteran, one thing which excludes you from Office of POTUS.
This means I am OVERQUALIFIED to be POTUS, besides I couldn't afford the pay cut.
It is therefore, my opinions too are biased, and far too old fashioned for most ears in the US. I do believe however, that we should make it MANDATORY for ALL US Citizens, to know how their country works. This is of course the single biggest cause of argument in the US as most mouth off about a system they do not understand, (yourself excluded of course), I address the layfolk here.
The Age Of The Dollar Is About To End [View article]
Seems most people are confused and actually think the word "democracy" is a good word, when it is actually evil incarnate.
The chief characteristic and distinguishing feature of a Democracy is: Rule by Omnipotent Majority.
In a Democracy, The Individual, and any group of Individuals composing any Minority, have no protection against the unlimited power of The Majority. It is a case of Majority-over-Man.
In both the Direct type and the Representative type of Democracy, The Majority’s power is absolute and unlimited; its decisions are unappealable under the legal system established to give effect to this form of government. This opens the door to unlimited Tyranny-by-Majority. This was what The Framers of the United States Constitution meant in 1787, in debates in the Federal (framing) Convention, when they condemned the "excesses of democracy" and abuses under any Democracy of the unalienable rights of The Individual by The Majority.
Democracy simply means control by majority, your individual voice, vote, existence mean NOTHING.
So praytell, why the shock that FED is in control? No hidden forces involved at all, it's quite transparent. The devaluation of the USD is common knowledge, it's being done for a reason, a currency swap, been going on, or are you too young to remember the events that took place shortly before JFK was killed. Executive Order 11110.
On June 4, 1963, President John F. Kennedy signed Executive Order No. 11110 [see transcript below] that returned to the U.S. government the power to issue currency, without going through the Federal Reserve (US Central Bank). Mr. Kennedy's order gave the Treasury the power "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This meant that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation.
As a result, more than $4 billion in United States Notes were brought into circulation in $2 and $5 denominations [See photo below]. $10 and $20 United States Notes were never circulated but were being printed by the Treasury Department when Kennedy was assassinated.
Executive Order 11110 TRANSCRIPT
AMENDMENT OF EXECUTIVE ORDER NO. 10289 AS AMENDED, RELATING TO THE PERFORMANCE OF CERTAIN FUNCTIONS AFFECTING THE DEPARTMENT OF THE TREASURY.
By virtue of the authority vested in me by section 301 of title 3 of the United States Code, it is ordered as follows:
SECTION 1. Executive Order No. 10289 of September 19, 1951, as amended, is hereby further amended
- (a) By adding at the end of paragraph 1 thereof the following subparagraph (j):
(j) The authority vested in the President by paragraph (b) of section 43 of the Act of May 12, 1933, as amended (31 U.S.C. 821 (b)), to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury not then held for redemption of any outstanding silver certificates, to prescribe the denominations of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption,
and (b) By revoking subparagraphs (b) and (c) of paragraph 2 thereof.
SECTION 2. The amendment made by this Order shall not affect any act done, or any right accruing or accrued or any suit or proceeding had or commenced in any civil or criminal cause prior to the date of this Order but all such liabilities shall continue and may be enforced as if said amendments had not been made.
JOHN F. KENNEDY THE WHITE HOUSE, June 4, 1963