By John Galt
November 27, 2011 – 16:15 ET
In another not so shocking development in the Cirque de EU, now the Federal Reserve Bank of the United States is being asked to bail out the European Union so the banksters can continue their grand plans for a worldwide political and economic union based on their vision of the future. Last I checked that damned piece of paper under glass in Washington, D.C., there was no obligation of the U.S. to bail out the nations of Europe and vice-verse yet taxpayers around the world are being forced at gunpoint to hand over their hard earned Dollars, Euros, Forints, or Pound Sterling to finance mistakes made by executives yet to be held accountable for their criminal actions.
Ambrose Evans-Pritchard’s piece from tonight’s edition of the U.K. Telegraph highlights this insanity:
The first paragraph from the article says a lot about the crisis:
Dollar funding costs in Europe have spiked to Lehman-crisis levels, leaving lenders struggling frantically to cover a $2 trillion (£1.3 trillion) funding gap. Italy faces a “sudden stop” in funding, forced to pay 6.5pc on Friday for six-month money. German bunds have decoupled violently from the safe-haven core of Swiss, Nordic, Japanese and US bonds as creditors across the world lose confidence in a monetary system with no lender of last resort or coherent government.
In other words, the Europeans have a Lehman situation, but it is on a national scale yet they wish to enslave those nations that are not playing ball so the idea that the Fed and our banksters should share in the spoils of having peasant states to finance their member banks’ losses while creating an inflationary monster in the U.S. is more appealing than abiding by the rule of law.
Yeah, this will end well (not).