Monthly Archives: May 2010

What a day Friday was! The Daily Bell began its coverage of both the falling euro (and the failing EU) by pointing out that (as predicted), the power elite and the EU political elite, particularly, were using the EU "crisis" as a way to call for increased centralization (EU Leaders Seek 'US of Europe'). But then came the news that Nicolas Sarkozy of France had threatened to withdraw France from the EU if Angela Merkel of Germany didn't go along with the EU's just-announced trillion-dollar

The gist of the tragedy is that commonly held (important) resources will be depleted and will not be replenished. And this doesn't apply only to how the wilds are being ruined by being held in common but also to national treasuries which everyone in a country believes is there for him or her to dip into indiscriminately. And then, with international communities, the tragedy isn't contained by national borders.

James Turk's article Hyperinflation Looms dated April 20, 2010, is based on Quantity Theory of Money (QTM). It draws an analogy between Weimar Germany of 1923 and the United States of 2010. Both precepts are invalid. As far as the QTM is concerned, it suffices to point to the very fact, admitted by Turk, that it is possible to have a shortage of money simultaneously with the overworking of the printing presses. Hyperinflation is not the same as the ultimate inflation of the money supply.

International currencies are much in the news these days (see other article, this issue) and in this article we will contemplate two rhetorical goalposts that the power elite could use to move the world further on down the field toward a single Western international currency administered by one huge private central bank. (Is that their goal - the ultimate dominant social theme? We think it might be).

So maybe the power elite doesn't have in mind raping and looting Europe and leaving after all, as some in the alternative press have recently been reporting. (Yes, they'll rape and loot, but they'll likely stick around just as we've been suggesting this past week.) Seems like the EU dominant social theme is yet too valuable to discard. No surprise to us, or our readers and talented feedbackers – who've been pitching in of late with inordinate, though not surprising, brilliance.