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Rabobank: “The Global Institutional Architecture Is Collapsing”

Rabobank: “The Global Institutional Architecture Is Collapsing”

It’s December, and the start of the season of good will to all and peace on earth. Not much of that about, of course.

In the UK, the election has been interrupted by the terrorist attack at London Bridge, which both sides are naturally playing politics with in different ways (The Left is soft on terrorists vs. police underfunding and foreign policy, etc.); the latest opinion polls suggest Labour continues to make up some ground but remains well behind, but London Bridge may perhaps see that impetus stalled. Let’s see if the imminent arrival of US President Trump tips the scales, as President Obama did on Brexit, or if he can hold off on commenting as protocol dictates.

In Germany, Angela Merkel’s coalition partners the SPD have just elected new leadership, and they have veered to the left, hardly a surprise against this global backdrop, but likely accelerating the eventual collapse of the current government and opening up questions about what any new one could look like. Instability, or at least uncertainty, at the heart of the Eurozone is certainly not going to be welcome to investors – yet could it herald an imminent fiscal shift?  

Tomorrow and Wednesday will also see the 2019 NATO summit, again in London, where the world’s largest military alliance will get together and try to decide what it is for and if it still has a purpose. Trump continues to put pressure on all members to spend the pledged 2% of GDP to keep it a fighting force vs. Russia, and perhaps China(?): relatively few do or show they even want to (e.g., Germany). He’s is also going to bring up Huawei and 5G to discuss. President Macron of France has called NATO “Brain dead” due to the absence of US leadership–I thought it was leading?

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The WWI Conspiracy – Part Two: The American Front

The WWI Conspiracy – Part Two: The American Front

Difficult as it had been for the Round Table to maneuver the British Empire into the war with Germany, it would be that much harder for their American fellow travelers to coax the United States out of its neutrality and into World War One.

The cabal was going to have to leverage its control of the press and key governmental positions to begin to shape public perception and instill pro-war sentiment. And once again, the full resources of these motivated co-conspirators were brought to bear on the task.

Join The Corbett Report for Part Two of The WWI Conspiracy.

See Part 1 here.

TRANSCRIPT

INTRODUCTION

November 11, 1918.

All across the Western front, the clocks that were lucky enough to escape the four years of shelling chimed the eleventh hour. And with that the First World War came to an end.

From 10 o’clock to 11 — the hour for the cessation of hostilities — the opposed batteries simply raised hell. Not even the artillery prelude to our advance into the Argonne had anything on it. To attempt an advance was out of the question. It was not a barrage. It was a deluge.

[. . .]

Nothing quite so electrical in effect as the sudden stop that came at 11 A. M. has ever occurred to me. It was 10:60 precisely and — the roar stopped like a motor car hitting a wall. The resulting quiet was uncanny in comparison. From somewhere far below ground, Germans began to appear. They clambered to the parapets and began to shout wildly. They threw their rifles, hats, bandoleers, bayonets and trench knives toward us. They began to sing.

Lieutenant Walter A. Davenport, 101st Infantry Regiment, US Army

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Germany Says “We Won’t Let Anyone Take Europe From Us”

Germany Says “We Won’t Let Anyone Take Europe From Us”

Yesterday we said that in the historic fallout and unprecedented confusion over Brexit, so far only one sure winner has emerged – namely Russia, where Vladimir Putin is watching the slow-motion collapse of this latest artifical aggregation of Europen states (a quick search of failed attempts at European integration results in tens of pages of results) with great interest and willingness to pounce at any opportunity – even as all of Europe is a loser, and nobody more so than Germany, whose chancellor Merkel is now watching her legacy go down in flames as first the UK, then France (National Front), Italy (Five Star Movement), Denmark (Danish People’s Party), and Holland (Freedom Party) have all called for either a EU referendum of their own or a renegotiation of their country’s EU membership.

As would be expected, the more worried and desperate Germany gets, the more ridiculous things Germany is apt to say. Case in point is what German Foreign Minister Frank-Walter Steinmeier said earlier today, when he tried to reassure onlookers that the EU would weather the shock of the British vote to leave the union as he convened crisis talks.

Well, one small nuance: Steinmeier wasn’t focusing on the EU, he was far more concerned about Germany and how the one nation that has benefited more than anyone one else from the customers union and the common currency is struggling to keep up appearance that asll is well.

As Steinmeier was heading into a Berlin meeting with his counterparts from the EU’s six founding members, he said the following: “I am confident that these countries can also send a message that we won’t let anyone take Europe from us.”

Or else? Because while “us” was meant to refer to the EU, he really meant Germany.

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Netherlands, Germany Have Euro Disaster Plan – Possible Return to Guilder and Mark | www.goldcore.com

Netherlands, Germany Have Euro Disaster Plan – Possible Return to Guilder and Mark | www.goldcore.com.

The Dutch finance ministry prepared for a scenario in which the Netherlands could return to its former currency – the guilder. They hosted meetings with a team of legal, economic and foreign affairs experts to discuss the possibility of returning to the Dutch guilder in early 2012.

The Dutch finance minister during the period has confirmed that Germany also discussed such scenarios.

At the time the Euro was in crisis, Greece was on the verge of leaving or being pushed out of the Euro and the debt crisis was hitting Spain and Italy hard. The Greek prime minister Georgios Papandreou and his Italian counterpart Silvio Berlusconi had resigned and there were concerns that the eurozone debt crisis was spinning out of control – leading to contagion and the risk of a systemic collapse.

A TV documentary broke the story last Tuesday. The rumours were confirmed on Thursday by the current Dutch minister of finance, Jeroen Dijsselbloem, and the current President of the Eurogroup of finance ministers in a television interview which was covered by EU Observer and Bloomberg.

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Olduvai IV: Courage
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Olduvai II: Exodus
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