Democracy or the Banks – which do you want?

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By David Malone

The propaganda barrage in preparation of the next global assault on our well being is in full swing.  IMF advisor Robert Shapiro giving the BBC an interview where he says there will be a global melt down in just two to three weeks unless the politicians address this financial crisis “in a credible way”.  Meaning in a way the markets approve of.

By David Malone

The propaganda barrage in preparation of the next global assault on our well being is in full swing.  IMF advisor Robert Shapiro giving the BBC an interview where he says there will be a global melt down in just two to three weeks unless the politicians address this financial crisis “in a credible way”.  Meaning in a way the markets approve of.

Which in turn means bailing out the banks with at least a trillion newly printed and/or borrowed Euros.  Seen in light of this interview Mr King’s statement that this crisis may be the most dangerous ever is part of the same propaganda campaign.

I’m not saying they’re not right about the seriousness of the insolvency of the banks nor even the time scale of their present moment of crisis.  What I am saying is that they are using this moment of crisis as they have the previous ones as a way to ram past us measures which we have not agreed to, have not heard discussed in any open way at all – all we get is the bully boy chorus of the self interested bankers  – and for which they have no mandate.

Will the new bail out happen?  The signs are that the critical partnership of French and German elites is breaking down.  The French elite face the ruin of their banks and the confiscation of their wealth contained therein.  The German elites are no longer sure they are best served by making common cause with their French counterparts.  Whatever they agree to let us remember it is their wealth not our pensions which are most at risk here.

Then there is Slovakia.  What has Slovakia got to do with anything?  Remember according to Europe’s rules any enlargement of the EFSF bail out fund or any creation of a new bail out fund can be agreed as many times as our political gimps like, but their agreement then has to be ratified by the elected parliament of each nation.  I have seen papers via a friend showing that the leadership of one of the parties in Slovakia will not agree to the new bail out.

Without their agreement the measure will not, cannot pass in Slovakia.  And if it doesn’t pass there it cannot happen.  End of story.

Which leaves only two possibilities.  Immense pressure will be brought to bear on the dissenters or the whole thing is removed from democratic control.  And that is what I think we are facing.  There is a growing feeling among the financial elite that democracy cannot be allowed to get in the way of their management.  I think we are on the brink of an profound, history changing assault on democracy in Europe.

I think the financial elite will attempt to create a new organisation (a European IMF an EMF) and put it beyond and above democratic control.  They will talk about it in terms of making it ‘independent’ of politics.  But in reality it will be nothing less than the creation of a  government above democracy.  Democracy will continue much as the Roman Senate continued under the Caesars.  It will become, even more than it already is, nothing more than the high status venue of choice for the wealthy to pursue favour, fortune and position.

I believe the peoples of Europe are at a moment of supreme danger and crisis.  But the crisis is not financial it is political.  We stand at the brink of letting democracy become a dumb show, to rubber stamp what the elite leadership decides is best for them.

This is our moment, when we have to chose – and we all will even if it is by our inaction – what is it we value in Europe, what do we want to save here, the banks or democracy?

Courtesy of David Malone – http://www.golemxiv.co.uk

David Malone is the author of the book Debt Generation. You can read and listen to excerpts from his book here: http://www.debtgeneration.org/index.php