Spain Demands War Upon The Rest Of Europe

Sunday, August 19, 2012
By Paul Martin

Karl Denninger
Market Ticker.org
Sunday, August 19, 2012

This is a demand for economic warfare:

MADRID (Reuters) – The European Central Bank must take forceful and unlimited steps to buy sovereign debt to help Spain reduce its refinancing costs and eliminate doubts over the euro zone’s future, Spain’s economy minister said in comments published on Saturday.

“There can be no limit set or at least (the ECB) can’t say how much they will use or for how long,” when it buys bonds in the secondary markets, Luis de Guindos told Spanish news agency EFE.

So let’s dissect this and see what this statement means.

Were the ECB to do this then it would be a monetization of the government’s profligacy in Spain. But the cost would fall upon all European nations and their people.

This is theft of property at gunpoint by unelected, unapproved people (the ECB) at the direction of a government beyond the victims’ borders (Spain.) The Spanish could not complain as they have the right to vote out of office the Spanish ruling class involved.

But the rest of Europe does not have any such right. This would be, literally, the theft of their property (the value of their accumulated money denominated in Euros) at the point of a gun.

The people of Europe, other than in Spain, are thus as of today entirely justified in both moral and legal terms to rise and depose the leadership in Spain by any means necessary, and since they cannot vote in Spanish elections this leaves them only two options: Depart the Euro or invade Spain and depose its government by force.

The Rest…HERE

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