Monday 12 September 2011

if fingers were guns

The G7 have met to point fingers at one another.

It's the final staredown, before it gets really nasty.
There was a currency war in the last Depression (1931) and it's being
repeated again because politicians can't/won't do what's right to
set things straight. If this keeps going, Communism is gonna seem
like a good idea.

None of those corrupt politicos wants to admit that they f^%&*ked up
because they don't wanna go down in the history books. (they will anyway)
But, neither could they rope in their banks, because
that would mean a competitive advantage for the other guy's banks.

So, the kabuki of the last few months has been to forestall the inevitable.
The US wants Europe to go first, and Europe wants the US to go.

The US lies by saying that all the darkness in the banking system comes
from Europe. Like we've never met Lloyd Blankfein and Jamie Dimon and Dick Cheney.

Try again.

Anyway, they chose the right town, Marseilles.

It's got a world trade centre and its the home of the anarchist movement.
I think the G7 better get some tips from the anarchists about what
anarchy is really all about, because it's coming to a realm near them.

Flash hyperinflation and half the country starves, just like that.

checkitout: 2 things

TELEGRAPH
Eurozone blamed by US for world's economic plight
The United States has warned that political disarray in the European Union is the "single biggest cause" of the unfolding economic crisis that threatens to plunge the world into a new recession.
By Bruno Waterfield, Marseille
5:25PM BST 10 Sep 2011
Finance ministers of the G7 group of industrialised nations have gathered in the French city of Marseille this weekend to discuss how to avert a looming global economic catastrophe, as markets continue their relentless plunge and deep divisions tear apart the European Central Bank (ECB).
But instead of the predicted economic debate, it emerged on Saturday that the bad-tempered meeting was dominated by American and British warnings that political failures and broken promises in the euro zone were in danger of triggering a wider crisis.
"Seventy-five per cent of the dark things happening in the world economy are because of the euro zone," said a senior US official after a round of talks ended in the early hours of yesterday morning.
... The glow of idealistic European federalism that once surrounded the euro is fading rapidly as the debt crisis has forced countries such as Germany and the Netherlands into an unloved fiscal union with highly indebted southern European nations such as Greece.
"It has become about saving Germany's skin. The EU's idealistic image as a peace project is now overtaken by a much more brutal game of realpolitik, power and survival," said one aide to a senior EU official.
Angela Merkel, the German Chancellor whose government is being asked to foot the largest share of the bill, is reeling from her sixth regional election at the hands of a popular backlash against euro bailouts. Last week she told German MPs that there would be "no taboos" against discussing whatever steps were needed to ensure the survival of the single currency.
Berlin's political establishment still regards the euro as the keystone of a united Europe, as consider it Germany's national destiny to head it.
"The euro is much, much more than a currency," she said. "The euro is the guarantee of a united Europe. If the euro fails, then Europe fails."

2
MISH
"Euro Death Wish" and Global Finger-Pointing: U.S. Senior Official Blames Eurozone for "75% of the Dark Things Happening in the World"
Anyone expecting a productive G7 meeting has instead been treated to a massive round of global finger-pointing as noted by the Telegraph article Eurozone blamed by US for world's economic plight
...The clashes at G7, which put Britain and the US together on the sideline as members of the European single currency struggle to resolve its internal contradictions, foreshadow an autumn of disarray within the EU. Their parliaments must ratify the plan for the new EU rescue fund, which is unpopular with many voters, especially in the richer countries.

And just when scepticism among its population is at its greatest, there is finally a realisation among eurozone members that the only way to save the single currency may be a dramatic move towards more integrated economic governance.