Brexit and the prospects for Europe and the world

It’s very difficult to know what the tactics and specific manipulations of the global elite might be from day to day. The Brexit vote surprised almost everyone, including me. But it’s hard for me to imagine that Brexit might be something the elite want because they have engineered the terms of European union to concentrate ever more power in their own hands, which is what they’ve been up to for decades, if not centuries.

Therefore, I expect a lot of foot dragging and I do not expect the referendum to be acted on with any haste. Instead, terms of union will be renegotiated with the apparent, but not real, return of some sovereignty to the Brits. Then “stay” will be sold to them and another referendum held to legitimize remaining in the union.

In the meantime, the ongoing financial crisis is approaching another tipping point which may throw the banking system into a chaotic state with which governments will be unable to cope.[i] It may then be a case of “every nation for itself” as people demand that their respective governments “do something” to prevent breakdown of their domestic economies, and to hell with EU regulations. That will mark the de facto disintegration of the European Union.

Of course, I may be completely wrong, but it will more likely be an error of timing, as I see the breakup of the UE and the demise of the global money and financial regime as inevitable. –t.h.g.

[i] According to a recent IMF report, “…Germany’s contribution to ensuring the success of the new European financial stability architecture is crucial for fostering its domestic financial stability and the success of the European reform agenda.” (IMF Country Report No. 16/189. GERMANY FINANCIAL SECTOR ASSESSMENT PROGRAM, FINANCIAL SYSTEM STABILITY ASSESSMENT). But an analysis of that same IMF report by Tyler Durden, (http://www.zerohedge.com/news/2016-06-29/imf-deutsche-bank-poses-greatest-risk-global-financial-system) concludes that “Deutsche Bank poses the greatest systemic risk to the global financial system.”

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4 responses to “Brexit and the prospects for Europe and the world

  1. Hello Tom
    Thank you for your reply. What you wrote is true.
    Mr Reagan complained of recurring budget deficits, the lifting of the Federal debt ceiling three times in the previous twelve months, and the loss of purchasing power in the value of the dollar. He complained of the burgeoning welfare state but not of the rising costs of the Vietnam war or of Nasa being funded to put a man on the moon by 31st December 1969.
    I am carefully reading your books and recently attended the second annual conference of the Post Crash Economics Society at Manchester University in the UK.

    I am also a chemical engineer by training and from First Principles developed a mathematical equation designed for housing finance. It’s effect in integral interest free borrowings offset by integral interest free savings over the adult life of an individual/couple. It promises to prevent unnecessary money creation and cut out the need Housing Benefit. It needs scrutiny in an academic environment.

  2. I participated in the campaign for Brexit. David Cameron and George Osbourne did their level best to scare voters to remain in the EU and failed.
    Michael Gove thought Boris Johnson was moving the goalposts, switching the emphasis from the control of immigration to sustaining the economy regardless of immigration. Johnson paid the price.
    In my opinion, the issue of the European Union is secondary to the debate in the UK Parliament on 20th November 2014. It can be seen YouTube under the heading “Money Creation and Society”. We have yet to solve the problems defined by Ronald Reagan in his “Time of Choosing” speech also seen on YouTube. Money Creation should be controlled, intermittent and rational. I accept Mr Greco’s arguement for the limitation of interest.

    • According to Wikipedia, Reagan delivered that speech in October 27, 1964, as part of a pre-recorded television program, Rendezvous with Destiny, which was aired in support of Barry Goldwater’s presidential bid in that year. Goldwater lost, of course, but that speech launched Ronald Reagan’s own political career.

      “Speaking for Goldwater, Reagan stressed his belief in the importance of smaller government. In the speech, he revealed his ideological motivation: “The Founding Fathers knew a government can’t control the economy without controlling people. And they knew when a government sets out to do that, it must use force and coercion to achieve its purpose. So we have come to a time for choosing.”[2] He also said, “You and I are told we must choose between a left or right, but I suggest there is no such thing as a left or right. There is only an up or down. Up to man’s age-old dream – the maximum of individual freedom consistent with law and order – or down to the ant heap of totalitarianism.”[2][3] The speech raised $1million for Goldwater’s campaign, and is considered the event that launched Reagan’s political career.”

      Was Reagan sincere in saying that? I will give him the benefit of the doubt. Later, in his own 1980 presidential campaign, Reagan expressed similar beliefs, but the promise of smaller federal government and more personal freedom, made by him and subsequent presidential candidates has proven to be an empty one. That’s why the Republican party is disintegrating and we have Donald Trump as a Presidential candidate. The American people are angry and frustrated at repeatedly being promised one thing but given another in a relentless march toward an elite dominated new world order of centralized control and extreme wealth disparity.

  3. Hi Tom,

    Whilst I too expect ‘a lot of foot dragging and do not expect the referendum to be acted on with any haste’, my general feeling is that the European Union is actually much, much further down the “every nation for itself” road than most suppose.

    With both political and economic discontent rife right across the continent, and with growing calls for ‘secession’ amongst (and even within) numerous nations, I personally can see no other long term course but some form of de-centralisation or the development of an unalloyed EU tyranny.

    All the best,

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