Euro Zone

Eurozone will Collapse – There is No Other Choice Economically | Armstrong Economics

Posted on by johnbarleycorn12

QUESTION: Mr. Armstrong; I can see what you have been arguing about the faulty design of the euro. After the EU rejected Italy’s budget, is there any hope left for Italy? RS, Rome ANSWER: For those who do not follow Europe closely, the European Union took the unprecedented step Tuesday (23rd of Oct) of rejecting Italy’s draft budget as incompatible with the bloc’s rules on fiscal discipline. This has simply validated the position many take in Italy that they are an occupied country. The Commission Vice-President Valdis Dombrovskis publicly stated that the Italian government was “openly and consciously going against commitments made” to drive down the country’s debt and deficit levels. The decision is escalating a battle between Europe’s establishment and Italians and the sooner you exit the Euro, the better Italy will survive. From the outset, in designing the Euro they deliberately lied about just about everything. They told everyone that they would be paying the same interest rates because of the single currency. I explained that was absolutely false. They appear to have deliberately used the example of the dollar to pitch the euro but never mentioned that the single interest rate was the Federal level they were referencing. All 50 states issued their debt in the single currency of the dollar but they all paid rates according to their own credit rating. I warned them that they MUST consolidate all the debts making that a national debt that they would have a single interest rate and that would compete with the dollar. Thereafter, each state would then issue its own debt as deeded and the free markets would price that accordingly. Under the system that I instructed them to adopt, this budget crisis would not exist. Because they FAILED to consolidate the debts from the outset, then the EU interferes with everyone’s budgets and dictates terms to them which in reality does make each state and occupied country. This system cannot possibly survive. The Euro will collapse. There is no possible way for it to survive under this scheme. Italy should simply announce it is exiting the Eurozone. Those in Britain who want to remain and complete idiots. I cannot express it any more politely. Nobody will talk reality here!
— Read on www.armstrongeconomics.com/international-news/europes-current-economy/eurozone-will-collapse-there-is-no-other-choice-economically/

Is Tony Blair a Traitor to Britain to Help Politicians in EU? | Armstrong Economics

Posted on by johnbarleycorn12

QUESTION: Is Tony Blair just a traitor to the British People to help his fellow politicians in Europe? JS ANSWER: Yes. Tony Blair is out there pitching for another Brexit referendum as Prime Minister Theresa May, who also did not want to exit the EU, will be unable to secure a parliamentary majority and this seems to be an intentional plot to overturn BREXIT. Even the propaganda they use with regard to trade is misrepresenting the entire scheme. Britain is FAR BETTER off under BREXIT than remaining within the EU. Any trade deal is subject to the veto of any one of 28 member states. Britain CANNOT reach an independent trade deal for its own people for the French have always vetoed Britain. Let’s face the facts. Britain loses EVERY major case in the European court. This is all about protecting governments – not about what is best for the people. Britain will collapse with the EU if it does not break the chains which bind it.
— Read on www.armstrongeconomics.com/international-news/britain/is-tony-blair-a-traitor-to-britain-to-help-politicians-in-eu/

Italy Sends it Budget to Brussels | Armstrong Economics

Posted on by johnbarleycorn12

The Italian Government has gone and adopted the controversial draft budget for the coming financial year. Prime Minister Giuseppe Conte said that the budget plan would keep the government’s promises, and keep the public finances in order. The government has now forwarded the draft to the EU Commission in Brussels for consideration. This is where we will see the clash of cultures between the people and austerity that focuses on the debt holders – not the people. What is unique in this budget is the introduction of a basic income for the poor, an earlier retirement age promised during the elections, and tax relief for the self-employed. The losers will be the Banks who lose tax breaks. In order to finance these costly campaign promises, the government plans a significantly higher level of new debt in 2019 than had been promised by the previous government. Therein lies the clash with Brussels as Italy embarks on a confrontation course with the EU. Under the EU rules, the upper limit for the debt ratio of no more than 60% GDP is the criteria set by austerity. Italy is already sitting on a debt of more than 130%. Only Greece comes in the Eurozone on an even high percentage ratio. Economy Minister Giuseppe Tria made a public statement that he was confident that he could explain the budget to the European Commission. Italy must increase its spending to get the economy off the ground. The deficit target of 2.4% of GDP is “normal”. He has publicly stated that the “idea that this budget could blow up Europe is completely unfounded.” The economic guidelines of austerity are completely unreasonable. In joining the Eurozone, the German debt converted with no appreciable impact. In southern Europe, converting their past debts to Euro doubled their “real” past debt obligations. Previously, their currencies naturally depreciated ensuring that debt repayment was always with cheap currencies. Under the Euro scheme, the rise in the Euro from 80 cents to $1.60 imposed a tremendous deflationary wave upon southern Europe from which the damage has been inescapable.
— Read on www.armstrongeconomics.com/international-news/europes-current-economy/italy-sends-it-budget-to-brussels/

Theresa May Taking Britain Down with the EU Ship? | Armstrong Economics

Posted on by johnbarleycorn12

The talk in the city of London is that there is now a rising chance that Theresa May will be gone perhaps by November or by Christmas at the latest. About 50 conservative MPs have been thoroughly fed up with the PM. The split she has caused in the Conservative Party has certainly put the British at risk of swinging left. Now even the Shadow Foreign Secretary, Emily Thornberry, has come out and claimed that there will be a Labour government in power “within six months”. She told the Financial Times: “They are not capable of governing . . . We’re either going to have a general election in the autumn or we’re going to have it in the spring…” Meanwhile, Juncker has effectively trashed May’s BREXIT proposals and Thornberry said: “I can’t believe won’t give us the additional time to be able to negotiate because they know we have a completely different approach.” This is the problem with Theresa May, she had voted to remain yet is in charge of negotiating BREXIT. Look for political fun and games in Europe to continue all the way into 2020. We have EU officials concerned about their jobs if the Euro fails and Theresa May who in her heart thinks Britain should go down with the EU ship. What a mess politicians has become on a grand scale globally.
— Read on www.armstrongeconomics.com/uncategorized/theresa-may-taking-britain-down-with-the-eu-ship/

Globalist turd 💩