Mark Grant : In Fact The ECB Is Already Printing Money And A Transfer Union Is Underway

Debunking Some Myths

Youri Carma Excerpt: First let me state , with a certain calmness, that there is a Transfer Union underway in Europe. This is the subject, you may recall, that Germany has tried to avoid at all costs which is why Eurobonds and other similar schemes have not been implemented. Europe, however, has found a clever way of implementing such a program and keeping it under the radar from the German citizens. I will explain:

In Greece, Spain, Portugal and Italy the ECB has implemented a program where the sovereign guarantees some bank’s bonds. The bank then pledges them as collateral at the ECB and gets cash. The bank then turns around and lends the money back to the sovereign nation and provides liquidity and economic sustenance. The Transfer Union is completed as Germany guarantees 22% of the ECB and the European Central Bank is nothing more than a conduit to lend money to the various nations. This contrivance is also not sterilized so that the ECB is, in fact, printing money which is another part of this subterfuge that no one in Europe wants you to know anything about. This strategy is what has kept all of these various countries alive while the political entity, the European Union, tries to decide what to do about the future of the troubled nations. In a very real sense the ECB is the only fully operational part of the European construct at present as the European Union does not have the “political will” to carry out its mandate.

“The tears I have cried over Germany have dried. I have washed my face.”

-Marlene Dietrich

Marlene Dietrich – last performance

Given what is happening, it then must be declared that the ECB is the lender of last resort and that they are printing money on a daily basis. Sterilization may take place in some instances and for some programs but it is not universally applied or even discussed. The program also gives the ECB tremendous leverage because any threat to turn off the spigot will force any of these troubled nations to turn to the Troika and ask for aid. The assistance does come with a price tag though and it is costly; the nation is audited, reality arrives, and the country gives up the total control of their finances and their budget to the EU/ECB/IMF. In effect, the nation no longer governs itself. The IMF, of course, is nothing more really than a cover for some kind of legitimacy beyond the politics of Europe and it has become the arm piece of the Continent so that Europe can point to them and say, “it is them; not us.”

It turns out that Jens Weidemann, chief of the Bundesbank, is a huge fan of Greta Garbo. Apparently he got to use her famous line recently at the ECB meeting:

“I want to be alone.”

He got his wish.

From: There Must Be Some Way Out Of Here, 10 September 2012 (Zero Hedge)

6 thoughts on “Mark Grant : In Fact The ECB Is Already Printing Money And A Transfer Union Is Underway”

  1. jonkirby2012.wordpress.com

    You didn’t mention the Rothchild daughter came with the paperwork
    But I guess it is implied. jonkirby2012.wordpress.com

    By the way Webster tarpley is comparing the US national convention
    And it is so fascist that he’s wondering how long it will be before
    The populous will completely pull a frence revolution as the elites seem to
    be basking in their fascist delights. jon

  2. Gregers Werle

    Grant is a corporate bond huckster from Texas who has probably never even been to Europe. His ZH ‘articles’ are nothing but advertising and propaganda. ZH has sadly veered away from its supposed balance by combining paid advertising with objective journalism as the now regular LVMI of Canada articles demonstrate.

  3. daddy warbucks

    And the latest in the myth busting wars:
    Study Concludes Conspiracy Theorists, Free-Market Thinkers Likely to be Global Warming ‘Deniers’
    Posted on September 10, 2012 at 11:52am by Liz Klimas
    A study to be published in Psychological Science has made a link between “climate denialism” — skepticism of global warming — and free-market thinking and/or belief in conspiracy theories.
    •The survey as conducted through “pro-science” and climate skeptic blogs (none of the latter posted the study).
    •Climate deniers have since come out requesting a list of the climate skeptic blogs contacted and have questioned the researchers’ methodology.
    •The study author calls the skeptic’s reaction to his results thus far as “illustrative of exactly the process I was analyzing.”
    A study conducted by a psychologist from University of Western Australia says it has found a connection between individuals skeptical of man-made global warming — commonly labeled by opponents as climate “deniers” — and a tendency to be conspiracy theorists and/or proponents of a free-market economy. But the “deniers” themselves have since been finding what they believe are flaws in this study’s methodology and some are even calling for a retraction.

  4. daddy warbucks

    And another myth (911 Commission report)

    BEST UNDER 5 MINUTE 911 VIDEO EVER.
    http://youtu.be/yu00AGWQl1g

    “It’s that simple. The only official accounting of the 9/11 terror attacks–an event that triggered premeditated invasions and years of bloody occupation, normalized torture, surveillance and assassination, emptied public treasuries for “defense” and “security” and altered global history is a fraud. A lie, and a bad one.
    Humanity deserves better.”

    http://pulverizedtonearpower.wordpress.com/2012/07/12/pulverized-to-near-power/

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