Around 2000 I came to roughly the same conclusions that he does. I had the opportunity to study the European money system while it was forming in graduate business school, and it just did not make sense.
The euro was probably going to fail unless the union became a unified federal government with one set of laws and taxation policy, with the kind of revenue distribution that exists amongst states in the US, for example.
A single currency cannot span independent fiscal authorities because it removes the ability of the currency to flucuate in value based on their independent economic health, acts of God, and social policy choices of the different social organizations. This is basic monetary theory. I was surprised that it lasted as long as it did, but it was to the advantage of the financial world to tolerate the attendant deceptions because they were growing fat on it.
And a similar thing can be said for the global currency trading regime based on the dollar and arbitrary valuations subject to national manipulation. It has allowed multinational corporations and banks to achieve tremendous power and advantage over local governments.
In other words, the currency regime and financial deregulation are the setup, and the credit default swaps are the trigger. Why the politicians permit the naked selling and buying of such instruments by banks handling public money is beyond my understanding, save pure, blind greed.
I always thought that a crisis would be put forward as an opportunity for the 'one-worlders' to once again promote their idea of a one world government, and a universal order of central financial authority that eventually and inevitably evolves into a single political system. And that is still very much in the cards.
For this to happen, national governments must be undermined and absorbed, their people brought down to their knees financially. And then their saviors can begin the work of ordering their lives.
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