The latest bailout of Greece appears to be the shortest lived of them all.
Announced Thursday, and falling apart by Friday, and all but forgotten by Monday. (Greek, Italian and Spanish yields are touching 6% again, and Italy's CDS is up nearly 3%)
Prior to this crisis, we had a many friends that thought the euro was the best thing since sliced bread. They are far fewer on the ground, but the enthusiasm with which they defend the currency, was amusing at first and now it is just tragic.
We have called the ECB the greatest threat to freedom, and a massive step forward in private banks taking control of the world.
Let us not forget that the ECB is a private institution owned by national central banks, themselves private institutions.
It has political backing from a parliament that is not really a parliament because there is not an official opposition, just a body that rubber stamps the orders of the European commission, themselves appointed, not elected.
Two articles have come our way that are well worth a read to understand the Road to Serfdom that Europe is on.
The first in the Daily Telegraph: The euro bail-out is a conspiracy against democracyBut the most candied is by Charles Hugh Smith: 500 Million Debt-Serfs: The European Union Is a Neo-Feudal Kleptocracy
