European Revolution Portugal, Spain, Greece, Italy, Ireland: Southern Europe Must Revolt Against Price Stability; That Depends A Future of Prosperity Or Deep Depression"; Christopher T. Mahoney Ex-Vice President Moody's

Southern Europe Must Revolt Against Price Stability
It’s time for a revolution in the eurozone; the time for polite discussion has ended. What is at stake is not a percent or two of economic growth in the South, but rather the difference between a future of prosperity and a future of depression. The mindless happy talk of unity, solidarity and an ever closer union is now irrelevant and in bad taste. People are eating out of trash bins, and an entire generation is living on the dole.

European Central Bank Governors Meeting; Mario Draghi  Goldman Sachs Trilateral Bilderberg Bankster Boy ECB President Press Conference Transcript by  Christopher T. Mahoney Ex-Vice President Moody's

Article traslated in portuguese - Artigo traduzido em português

Christopher T. Mahoney, ex-vice presidente da agência Moody's diz que os países do Sul da Europa deve revoltar-se contra a política de estabilização de preços defendida pelo Conselho de Governadores do Banco Central Europeu

If the South continues to permit the North to administer the poisonous medicine of monetary deflation and fiscal austerity, it will suffer needlessly for years. Yes, we all know that the ECB was modeled after the Bundesbank and part of the deal for Germany was that the euro would be as strong as the mark. But that was then, and this is now.

The eurozone is a multinational republic in which no country, no matter how high its credit rating, can act as hegemon. Germany has just two votes on the ECB’s governing council, not control and not a veto. Germany is  just another member of the union, and the Bundesbank is just another regional branch of the Eurosystem. The ECB treaty was not intended as a suicide pact, and it can be interpreted liberally enough to permit what has to be done. If the constitutional court objects, then Germany can exit. She can’t force anyone else to.

The revolution must be led by France, Italy and Spain. They have already acted together at the last summit, when Monti refused to adjourn until Merkel made major concessions (since rescinded) about bank bailouts. These three men, Hollande, Monti and Rajoy, must form the nucleus of a bloc within the eurozone that demands open-ended QE until eurozone nominal growth rises to the mid-single-digits, and stays there.

First of all, there may already be enough votes on the governing council to ram QE through the Berlin Wall. Failing that, the bloc can refuse further austerity and threaten exit unless the ECB capitulates. Sadly, Mario Draghi is a cipher in all this, having sworn allegiance to the single mandate in order to get Merkel’s approval as president. He cannot lead the rebellion, nor would it be appropriate for him to do so.

What I am advocating is a public break with the Bundesbank and its ideological satellites, and a categorical rejection of minimal nominal growth and fiscal retrenchment. The Southern Bloc must demand nominal growth targeting, unsterilized bond-buying, and an end to self-strangulation by austerity. Those policies have been tried and they have failed for two years.

The South cannot balance its budget without inflation, nominal growth, and rising nominal government revenue. Structural reform is nice but at this stage quite irrelevant. Budget cuts and labor market reforms are not and must not be a prerequisite for nominal growth. Those are shibboleths unrelated to medium-term growth, and they would be much easier to implement in the context of growth.

Before this heart-rending tragedy is over the South will revolt, but probably when it is too late. The time is now, before Spain and Italy are forced to drink the Troika’s strychnine and arsenic. France, as a continental leader with market credibility, must lead this effort. Germany and its allies will think twice before going mano a mano with France.

The cost to the creditor powers will be higher inflation and a decline in value of their claims on the South, but that must occur one way or another. Inflation is much preferable to repudiation, which is the only other viable alternative.

Maybe it would be more prudent to conduct this revolt in private, but my sense is that it can only work as a public ultimatum. Europe successfully stared down Russia on many occasions during the cold war; she can do the same with Germany today.

Christopher T. Mahoney Profile

Mahoney Blog Capitalism And Fredom: Southern Europe Must Revolt Against Price Stability

OWS, Attack, Revolt! American Banks NAZI Fascism Police Violence! People Arrested Cause Want Close CitiBank Accounts And Money Back

#OWS #OCT15 CITI BANK ARRESTS

Twenty people wanted to close their accounts @ City Bank. It's believed that five were arrested.

Group of Citi Bank customers attempt to close accounts as a form of protest- 2 dozen are locked inside bank until police arrive, 5 cops take down woman

they were all customers of city bank. They were all going to close there acount. Even tho they went in as a group why should they be arrested they all had legitimate business. This is a messed up system were people are getting arested for doing legal actions with symbolism. So there only crime was trying to close there acounts because they felt that occupy wall st had a point.

We can see in this video, that: Citibank Criminal Banksters, and The NYPD, kidnapped, and force that lady inside the bank.
The NYPD, was suppose to help the lady in the video, not help the bank commit the crime of Kidnaping!!!

A comment wroted on DRY 15 October International Mobilization Take the Square Anti-Banks Global Protest, that shows the real american situation, that, in fact, is the same as the European.
All for the Banks Banksters Gangsters, the Evil 1%, and taxes, and taxes, and more taxes for the people, the 99%, that is geting unsleaved by Evil Banksters.

BIG BANKS are destroying our community while WORKING FAMILIES are struggling to make ends meet Big banks like Bank of America took billions of ou tax dollars, but refuse to pay their own taxes. We bailed them out, yet we’re the ones being forced out of our homes. While the CEOs rake in millions in salary and bonuses, working families continue to struggle. In fact, janitors in over 20 cities across the country are uniting on to fight for better wages and working conditions. Over the next year, negotiations that will impact the wages and benefits of tens of thousands of janitors across the country will be taking place, including contracted janitors that work in downtown Providence. Providence’s janitors will be rallying in solidarity with other working families to hold banks accountable and fight for an economy that works for all. Stand up against banks like Bank of America that are bankrupting our community and to push for an agenda that puts us, the people, first! Join us to say NO to big banks and YES to working families. R A L L Y in downtown Providence Wednesday, September 28 @ 4:00pm Bank of America building at 111 Westminster St.

This is why we fight and organized the May 15, the June 19 protests against the Euro Pact, and the OCTOBER 15 Global Mass protests for real democracy.

WAKE UP!

ITS TIME TO REVOLT!

RISE UP, ITS US OR THEM!

WE ARE THE 99%!

They are the 1%!

When Injustice Becomes Law, REVOLUTION BECOMES DUTY!

Quando a Injustiça se Torna Lei, REVOLUÇÃO É UM DEVER!

Cuando la Injusticia sew Torna Lei, Revolucion es Un Dever!

Eveen Jesus Resid Up Against the Banksters Bankers Money Traders and put them out of the Temple

Anonymous DemocracyNow Revolution! People Wake Up Revolt! The Elite Worst Nightmare!

The elite's worst nightmare ~ Anonymous ~ who are you?
As humanity continues to connect at an accelerating rate, the elite are faced with their worst nightmare... society is evolving faster than they can control.

We are becoming conscious.
The voices of humanity are now being heard.
We no longer wish to live in a world of inequality.
We will no longer be ruled by fear.
We will no longer allow the restriction of knowledge.
We will no longer be divided.
The people united will never be defeated.

It is now only a matter of time...

Fight For Your Freedom! October 15 Join World Revolution! Global Mass Protests Agenda

Wake Up Europe, Revolt! European Economic War Crisis: USA Tries To Destroy Euro

RT America: Tarpley: 'US tries to destroy Euro'

China's ownership of the United States government debt has dropped to the lowest level in at least a year, Treasury data showed, in a sign Beijing is increasingly keen to diversify out of US bonds. Webster Tarpley says that China is diversifying and has moved onto the Euro and Yen. He adds that the US was trying to shift the depression onto Europe, trying to destroy the Euro with a speculative attack on Ireland, Greece, Portugal, Spain, Italy, etc.