Courtesy of Russ Winter of Winter Watch at Wall Street Examiner
“It is in the uncompromisingness with which dogma is held and not in the dogma or want of dogma that the danger lies.” -Samuel Butler
Something about the current scene doesn’t add up. All the common proposals/dogmas, viewed here, are just more one trick pony “bank recapitalization” wasteful schemes using public money, that not only leave the debt burdens in place, but adds to them. If this is what they try to utilize, fade it.
Over the weekend, the markets were lathered up over a tightening in the Greek polls that went more towards the bailout, bankster parties. Then Tuesday was new poll showed a dead heat, and the market tanked. Overlooked in all this was an opinion poll commissioned by German state TV ZDF published on Friday showing that 79% of respondents rejected eurobonds as a solution to the crisis. Support for euro membership appears to be waning as 50% of respondents (up from 43% in February) say they believed Germany’s euro membership carried more disadvantages than advantages.
To quote Monty Python, now its time for something completely different. I do think Germany blinks, but not in the way generally imagined. I am thinking that the election of Hollande may shift the now dead dogma towards more humanism, or the novel concept of humanitarian help. Therefore I am suspecting that a surprise lays in store. It is that Germany, and the rest of the EU, could come up with a so called “Marshall Plan–style package” for Greece. Very little of the bailout money so far has gone to the Greek people, it has gone to the banksters. That is the core of the resentment and now the voting for neo-Nazis and Communists. Germany has an historical understanding of this. Instead this will be nipped in the bud, as a 20 bn plus euro billion package (the equivalent of 10% of Greece’s shrunken GDP) going as aid to support the health, safety and welfare of actual human beings and create good will. This is not the solution, but with Greek society at least fed and fueled, a proper solution, an orderly debt restructuring, bank closures, and a controlled, structured devaluation from the Euro can be implemented. This modest in the scheme of things Marshall Plan trump card will likely be pulled before the June 17th Greek election.
– More Russ at Actionable
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