What’s clear from the behavior of European financial markets over the past two weeks is that the dramatic stories of financial meltdown and panic are deliberately being used by certain influential factions in and outside the EU to shape the future face of global banking in the wake of the US sub-prime and Asset-Backed Security (ABS) debacle. The most interesting development in recent days has been the unified and strong position of the German Chancellor, Finance Minister, Bundesbank and coalition Government, all opposing an American-style EU Superfund bank bailout. Meanwhile Treasury Secretary Henry Paulson pursues his Crony Capitalism to the detriment of the nation and benefit of his cronies in the financial world. It’s an explosive cocktail that need not have been. . . .
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This “crisis” has been engineered/planned for by the Federal Reserve for some time, with repurchase agreements being the most recent tool used. JP Morgan, Rockefeller and their cronies have been working towards world domination for years. Now the media has helped to turn what should have been a market correction into a panic, so the government will react by becoming socialist. We will end up with the foundations (read “excuse”) for the one world financial system that John warned us about 2000 years ago.