Armstrong Economics Blog/European Union Re-Posted Feb 7, 2021 by Martin Armstrong

G30_Reviving_and_Restructuring_the_Corporate_Sector_Post-Covid

This is the translation of a French article source: a report from the G30 on the very guy who imposed Negative Interest Rates on the EU in 2014  which has destroyed the EU bond market and set in motion the debt crisis along with NEVER ENDING Quantitative Easing. I can confirm that he once sat in the corner of a FX trading room trying to understand how the FX markets functioned and then they made him the head of the European Central Bank? So they sent an Italian to betray his own country.

“Mario Draghi was appointed by the Italian president to form a new coalition government, and this appointment of Mario Draghi at this time in history has nothing to do with good luck.

Italy, an extreme danger for the eurozone!

First of all, officially, as you read these lines, Italy’s debt stands at 158% of Italy’s GDP.
For the record and within perspective, the Greek debt in 2010 was… only 146% !!
That of Cyprus of only 56%!

A few months later, these two countries were in virtual bankruptcy, saved from the waters with plans to ruin either the populations or the savers.
n 2012, the eurozone was on the verge of an explosion!

Super Mario!

It was with a phrase that has remained famous in the mid of the summer of 2012 that Mario Draghi “saved” the eurozone.
“The euro area is ready and determined to do whatever it takes to preserve the euro and believe me, that will be enough.”

Mario is back. Mission? Save Italy, Save the Euro.

And yes, Super Mario is back, a bit like Captain Flame to save not the universe, but Italy and the eurozone, because the Italian debt threatens the solvency of Italy and the sustainability of the Eurozone much more dangerously than Greece in 2011 and 2012. 10 years ago.
Mario Draghi isn’t here by chance.
He is the former governor of the ECB.
He’s also the author of the G30 report that I have been telling you so much about, and it was no accident that I was focusing on it either.
You are going to start to understand and see certain things happening.
Some policies fall into place.
They have been calibrated for certain countries in particular which present a systemic threat to the stability of the euro area.
You know these countries.
There are Spain, France, and Italy.
Spain and France can still hold out a bit.
Italy is the current weak link in the euro area.
It is therefore in Italy that the recommendations of this G30 report, written and signed by Mario Draghi in person, will be applied with the most zeal.
Italy will serve as a laboratory and guinea pig for the economic policy defined in this 120-page report.

What will happen in Italy?

The implementation of very unpopular political and economic decisions.
The idea is to do as much austerity as possible without triggering a social revolution.
Italy will take the same path as Greece.
In 12 to 24 months, it will be the same in France.
And believe me, it will be painful.
Will the eurozone survive all of this?
In fact, no one knows.
Neither Draghi nor the other European mamamouchis.
Macron, when he says he “will be forced to do certain things that will make his re-election impossible in 2022”, knows very well what he is going to have to do.
He’s gonna have to cut off the morphine injections. (all the social and economic help)
From then on, the people will cry out in pain at the horror of the economic crisis.
We will save the big ones and what represents systemic risks.
We will drop the little ones and those without ranks.
Social tensions will mount, until the explosion.
The question that will be asked, will quickly be that of the very survival of the common European monetary project.
The next black swan is already noticeable.
It will be the Eurozone Season 2 crisis.

Armstrong Economics Blog/Regulation Re-Posted Jan 28, 2021 by Martin Armstrong

COMMENT: Czech rep. has been in total lockdown with all commerce and services closed (except supermarkets and drugstores) since December (and before that since October, with barely a few weeks with shops opened before the next lockdown), curfew at 8pm, schools closed since September, ban on all social activities, etc. And, now the PM said it’s not enough (!) and even stricter “measures” will be announced soon (likely a total ban on leaving home, as well as closure of manufacturing/factories, etc).

Slovakia continues with the forced “testing” every 2-3 weeks. As before, those without a negative test certificate are not allowed to leave home (i.e., can’t go to work, buy anything at a shop, or even go for a walk). They’ve openly said these bi-weekly “tests” will be here to stay (along with the total lockdown, it seems)… until everyone is “vaccinated”.  Also, the new “pandemic” law now allows the govt to remove anyone from their home and put them into “isolation” facilities (prisons/camps?).

The Canadian leak was indeed true, it seems… it’s been playing out 100% as the document said it would, ever since October.

I’m utterly shocked… for the most part, Eastern Europe has gone full-blown “covid” tyranny, and with pretty much zero resistance from the populace. I’ve always been saying that Westerners’ idea that Eastern Europeans are more awake or more courageous or more opposed to totalitarianism (than people in the West) is not true, but even I am shocked and disgusted at seeing this. All of these countries (except Belarus and to a lesser extent a couple of places in the Balkans) have been in more or less total lockdown since October, with curfews, bans on leaving/entering the country (in the case of Hungary), businesses forcefully closed for many months, etc. But Slovakia is, with no doubt, the most tyrannical now (along with China, I suppose)… can’t believe everyone has just submitted to all of this (forced fake “testing”, total lockdown since October, schools closed since March 2020, the economy completely – and deliberately – destroyed, etc). And in Eastern Europe the governments are not paying anything to the businesses they’ve closed down…(the only payment in Czech rep. or Slovakia, is about 10 euros PER DAY per employee – as “compensation”; and nothing to compensate the business owner, of course). And still, people have been obeying ever since March.

PG

REPLY: It looks like the old Iron Curtain countries are starting to long for their old powers once again. Now even China is looking to impose anal swab testing. You would think this is the black plague. In 1918 with the Spanish flu, the death toll was about 50 million. However, the population was 1.6 billion. That worked out to 3.125%. The total current world population is about 7.8 billion, which means even a death count of 2 million is only 0.0002564%. The data is by no means justifiable to destroy the world economy and eliminate all our freedoms.

In fact, Johns Hopkins retracted an Article Saying COVID-19 had ‘Relatively No Effect on Deaths’ in USA. Everything is being censored to create a false image of what is exactly going on. Then the World Health Organization has changed the definition of “herd immunity,” eliminating the pre-COVID consensus that it could be achieved by allowing a virus to spread through a population, and insisting that herd immunity comes solely from vaccines.

The public is suffering from ‘Mass Delusional Psychosis’ and one must wonder are those in charge this stupid, or do they just don’t care what they are doing to society? It is clear that Bill Gates has bought his way into persuading many that the population must be reduced. There are trials of vaccines to prevent having children. Others are testing to see if these vaccines for COVID will reduce male fertility.

This has been global coordination with the slogan BUILD BACK BETTER and if you dare even say that you are now a conspiracy nut despite the fact world leaders are all saying the same thing. The head of the United Nations is pushing this agenda, but hey, we cannot point to world leaders all pushing the same agenda. The elderly are the most vulnerable to these vaccines. China excluded them from their vaccine.

Meanwhile, Bill Gates is already setting the stage for the sequel – climate change lockdowns.  As far as COVID is concerned, lockdowns have been more deadly and ineffective.

In Britain, they arrest you for two or more people meeting outside in a public park. What is next? Death by firing squad for failing to wear a mask to reduce the population?

Armstrong Economics Blog/Canada Re-Posted Nov 20, 2020 by Martin Armstrong