Central Banks Are Trojan Horses, Looting Their Host Nations
Do central banks do something similar?
Economics professor Richard Werner – who created the concept of quantitative easing – has documented that central banks intentionally impoverish their host countries to justify economic and legal changes which allow looting by foreign interests.
He focuses mainly on the Bank of Japan, which induced a huge bubble and then deflated it – crushing Japan’s economy in the process – as a way to promote and justify structural “reforms”.
The Bank of Japan has used a heavy hand on Japanese economy for many decades, but Japan is stuck in a horrible slump.
But Werner says the same thing about the European Central Bank (ECB). The ECB has used loans and liquidity as a weapon to loot European nations.
Indeed, Greece (more), Italy, Ireland (and here) and other European countries have all lost their national sovereignty to the ECB and the other members of the Troika.
ECB head Mario Draghi said in 2012:
The EU should have the power to police and interfere in member states’ national budgets.
***
“I am certain, if we want to restore confidence in the eurozone, countries will have to transfer part of their sovereignty to the European level.”
***
“Several governments have not yet understood that they lost their national sovereignty long ago. Because they ran up huge debts in the past, they are now dependent on the goodwill of the financial markets.”
…click on the above link to read the rest of the article…
