Why Europe Will Lead the Charge to Eliminate Cash – The Next Step in Global Meltdown

Wednesday, May 20, 2015
By Paul Martin

by Martin Armstrong
ArmstrongEconomics.com
May 20, 2015

Europe will lead the world into this Economic Totalitarianism because government is now desperate to retain the Euro. If the Euro collapses, so will Brussels. The government exists solely because of the Euro.

The fatal design of the Euro is the key. The failure to have consolidated the debts of all individual member states has been the worst possible mistake perhaps ever made in this post-Great Depression era of New Economics where government lawyers assume they can just write a law and that will be followed as some new modern dictator.

Because of the failure to consolidate the debts, the reserve of the banks had to then be politically correct to conform with Brussels holding a piece of all member state debts. That meant that the defaulting in part or in whole of individual sovereign debts of member states undermined the banking system. This would be as if in the USA bank reserves were made up of state debts. If one state failed, everyone would scramble to sell the banks who had the most.

The Rest…HERE

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