Helen Brown links national money policy to her oft heard cry for State (in eurozone, read Member State) charter banks. We have forgotten our roots, when the American colonists thrived on a system of money created by the people themselves, debt-free and interest-free. The continued dominance of the Wall Street money machine depends on that collective amnesia. The fact that this memory is surfacing again may be the machine's greatest threat -- and our greatest hope as a nation. [...]
Spiegel Online repeats Wall Street Journal reports "from insiders" that central banks around Europe are preparing for a break up of the eurozone - even looking into where they can get revived national currencies printed - in particular the Irish central bank are looking into where they can print new money in case in "in the short term they have to introduce a national currency"
Marshall Auerback on Germany's choices and the likely outcome. So whilst many Germans might think they want a smaller, more cohesive euro zone without the troublesome profligates, the policy elites in fact recognize that a 'United States of Germany' under the guise of a United States of Europe, actually suits their aspirations to dominate Europe [...]
Unusual plea for consideration of the German people from the Telegraph. Ambrose Evans Pritchard has sympathy for Germany and thinks it should leave the Euro in "an orderly way" (is that possible?). What happens to the remaining euro-zone countries, Ambrose? Any sympathy for us? [...]
In summary, this plan may end up being the only way out of a vessel heading for the rocks. We must keep it in mind given that our European leaders’ bloodymindedness has put, and keeps, a whole Continent on the rock-bound path. But it is not time yet to adopt it. For it will come at an incredible human cost; a cost that can still be averted (assuming that I am right in saying that the point of no return has not been reached – yet). We still have a chance to storm the bridge and change course. Failing that, a plan like that by Mosler and Pilkington may be the equivalent of our lifeboats. We should, however, always keep in mind that our lifeboats will be launched in icy seas and, while stranded on them, many will perish.
By Warren Mosler and Philip Pilkington. The Eurozone has certainly seen better days. The mess is only getting messier. Leaked documents from within the Troika show the austerity programs to be an abject failure and yet European officials continue to consider them the only game in town. So, we contend that the periphery governments should have a credible exit strategy on hand and it is to this that we now turn.