The following blog entry (shown below) by Mish highlights two important points - it provides concrete evidence of what course will ultimately be taken in Europe and the world in the coming years, and to a far more extreme level, it shows how word manipulation combined with a constant influx of misconstrued stories have caused mass confusion among the people with the end purpose of allowing each individual to create his/her own fictional account of what they think is going on (i.e. allow them to live in a world hey they believe to be real since no sensible fact has been presented that will allow them to make sense of what is truly going on). For starters, no one knows what exactly is going in Europe. One day the headline reads - ‘EU Weighing Greece Exit’, and the other it reads ‘EU and ECB committed to keeping Greece in the EU’. The two binary headlines are there to create meaning. It is from this unbalanced, unfettered and fictional headline that people begin to create misconstrued realities as a way to fill the void (i.e. the fact that has been hidden from almost every single headline).
On any event, Dallara, arguably one of the heads of this power grab has repeatedly made it clear what the intention of the greater powers at bay are - to unify not just the European union but the world. For what purpose? To consolidate the people into dissectible masses. It is here were most, but not all of the world financial woes will be resolved. With ‘unification’ (and this is the key word), the leaders will sell the point that the only way to consolidate the debt that has plagued the world and therefore resolve the financial problems, is to unify the world into regions, unions, districts be it what it may. People, without much choice, will unknowingly move towards this centralized society in act of desperation. Remember that fear is what deprives people from their rightful being, and forces them to act in the most of irrational ways. Look no further at how fear played, and ultimately shaped the world back in 2008 with the introduction of all these unlawful amendments and reforms (Do any of you realize that nearly 2,000 new laws were passed between 2007 and 2010!). On any case, the path has been laid out. While to many it has not become evident just yet, it is clear for some what will happen. The world will get unified, meaning that only a few standing currencies will be left as a way to consolidate the debt, but again, as a way to have better control of the people. This, while certainly an outcry of what has been advertised on TV day in and day out with the confusing, rapid changing headlines and worthless news ploys centered around a consumer sucked world, is a sensible conclusion that I am confident will happen, just as I called for the commodity bubble between 2009 - 2011 and market bottom. I do not take pride in these calls, I just want people to understand that in between all the noise out there, the very people pulling the strings are letting you know what is going to happen. You simply need to have open ears, eyes and mind to let it sink in. The world is being transformed before our very own eyes. We allowed this to happen and if you continue to choose to look the other away and live in your fictional world, so be it, but don’t expect to be helped once it is all set and done.
Ask yourself this. Do you really think the current assault on the world (economically, socially, politically, etc) happened all of sudden because it just happened, or was it the result of years of faulty policy making with the end result if driving the world to the brink? These type of events take decades to accomplish.
From Mish’s blog - "ECB Will be Insolvent and Costs May Exceed 1 Trillion Euros" Says IIF Director; If the ECB Prints, Would Germany Exit the Euro?
According to IIF director Charles Dallara in a Bloomberg interview, "ECB will be insolvent if Greece were to exit the euro. Europe would have to first and foremost recapitalize its central bank."
The cost of Greece exiting the euro would be unmanageable and probably exceed the 1 trillion euros ($1.25 trillion) previously estimated by the Institute of International Finance, the group’s managing director said.
The Washington-based IIF’s projection from earlier this year is “a bit dated now” and “probably on the low side,” Charles Dallara said in an interview in Rome today. “Those who think that Europe, and more broadly the global economy, are really prepared for a Greek exit should think again.”
The European Central Bank’s exposure to Greek liabilities is more than twice as big as the ECB’s capital, said Dallara, who represented banks in their negotiations with the Greek government on its debt restructuring. As a result, he predicted the bank would be unable to provide liquidity and stabilize the euro-area financial sector.
“The ECB will be insolvent” if Greece were to exit the euro, Dallara said. “Europe would have to first and foremost recapitalize its central bank.”
In February, the IIF estimated that Greece’s liabilities, in the event of a euro exit, could be crippling. “It is hard to see how they would not exceed 1 trillion euros,” the group said in an internal Feb. 18 report that hasn’t been made public.
It’s not clear whether Spain will need a bailout as it seeks to help its banks weather the euro crisis, he said.
“The only way to help markets see past that obscurity is to remove the cloud of uncertainties of national fiscal position and move toward unification,” Dallara said.
Note: Here is were I believe Mish is wrong. There will be unification. Maybe not right in this very instant, but certainly within the next 6 - 18 months.