Posted originally on Nov 22, 2024 by Martin Armstrong
European Central Bank President Christine Lagarde has warned that Europe’s bolstering welfare state is at risk due to its declining economic environment. Lagarde said the EU “will not be able to generate the wealth we will need to meet our rising spending needs to ensure our security, combat climate change and protect the environment.”
Rather than considering whether these measures are essential, Lagarde believes that the European Union must work to integrate all member state economies into one to prevent “fragmenting into rival blocs, where attitudes toward free trade are being called into question.” A unified Europe to end all wars with a uniform currency. The euro was doomed to fail from the onset. Everything from failing to consolidate member debt to ignoring sovereignty spelled trouble.
The structure of the euro is fundamentally flawed. To put it in American terms, it would be as if all fifty states were able to issue federal bonds. It would be total, absolute chaos. To be politically correct, they said that since every member issues its own federal-type bonds, they all have to be reserves, and the large banks have to fairly allocate them among themselves.
Lately, we have seen European policies come under fire amid the Ukraine war. Some members want to ship off as much in aid as permitted, while others want to hold off. Some members want to focus on national security while others support open borders. Europe The entire premise of creating the European Union was really to eliminate democracy — those in Brussels are unelected and above each member’s elected officials. On nation can say they don’t want to fund climate change initiatives but it matters not as the EU forces its will on everyone.
“We can no longer see ourselves as a loose club of independent economies,” Lagarde warned. Yet, Europe is a continent of vastly different and proud cultures. You cannot force a German to hold the same ideals as a Greek or expect every member nation to blindly agree to whatever proposal comes down from the unelected officials in Brussels.
There are so many fundamentals working against the EU from social to geopolitical issues. Socrates indicated a panic cycle and high volatility coming into play in the euro around 2026 and into 2027. We see a massive turning point in 2029, and although I hate to be the bearer of bad news, I simply do not see how the euro or European Union can survive. CENTRALIZED CONTROL NEVER WORKS!
Centinel2012 