The EFSF Establishes The Precedent Of A Sovereign And A Seignior To Establish Money Good And Provide For Moneyness

Open Europe relates an editorial in the WSJ argues: “Using the ECB to buy debt, only to tender it to governments at a discount, would also establish a moral hazard that the central bank would soon come to regret. If the ECB can be made to take losses on Greek debt, why shouldn’t Ireland , or perhaps Portugal , benefit from the same generosity? […] This latest proposal merely highlights how dangerous it was for the central bank to involve itself in manipulating the government-bond market in the first place. For Frankfurt , the lesson is to beware of Greeks bearing bonds.” And on his WSJ Real Time Brussels blog, Stephen Fidler notes that expanding the European Financial Stability Facility, EFSF, through mixed financing by AAA and lower-rated members “means non-prime borrowers such as Italy would have to raise real money to fund the bailout.”

Issuing debt to rescue debt only monetizes the original debt, and causes debt deflation, resulting in loss of value in sovereign debt, BWX, corporate debt, PICB,  and stocks, VGK, as well; and will eventually cause a rise in food, FUD, and cooking oil, FUE, agriculture, JJA, commodity prices as investors seek safe havens  from rising interest rates     

The European Union in issuing debt through its EFSF monetary authority has started a new era of fiscal federalism and economic governance; it has created a debt union and a common treasury. The EFSF in issuing debt has further strengthened the Eurozone as a region of global governance as called for by the Club of Rome in 1974, has impinged upon and impaired the debt sovereignty and debt seigniorage of sovereign nation states, and by providing seigniorage, and has established the precedent of a sovereign and a seignior to establish money good and provide for moneyness.

Open Europe relates: “German Professor Markus Kerber is the initiator of a lawsuit at the German Constitutional Court against the bailouts of Greece and Ireland and that  full write up of the event can be found here. The Professor expressed some profound criticism of the European Central Bank’s policy to buy up government bonds on the secundary market – bluntly calling it “illegal” along with the bail-out package itself. He predicted that “the euro will fail, it’s better to face that”.”

Open Europe communicates also that Express delivers 373,000 signatures to Downing Street calling for EU withdrawal. With the help of Labour and Conservative backbench MPs, the Express yesterday delivered a petition with 373,000 signatories to Downing Street calling for the UK to withdraw from the EU. Open Europe’s Stephen Booth is quoted by the paper saying, “The UK needs to take a much more direct approach to fighting for radical reform in Europe, without which frustration with the EU will only grow.”

And Open Europe relates that Political Commentator Patrick O’Flynn argues, “The Prime Minister, under pressure from his Lib Dem allies, has abandoned any idea of repatriating powers from Brussels and appears to be after a quiet life. But there is no chance of that.”

All protesting against the announced European Leaders Bail Out Agreements and participation in regional global government is futile, as the Apostle John, writing in Revelation 1:1, foretold those things which must shortly come to pass, meaning, that when they first start to occur, they fall in place like lined-up dominoes collapsing one upon another.

In Revelation 13:1-2, John describes the Beast System rising from waves of political and economic turmoil in sea of humanity. Through the process of globalization, central bank easing, and carry trade investing and disinvesting, Leaders’ Announcements of Framework Agreements and Seigniorage Bailout Agreements, the Beast’s strength grows by the day.

Revelation 13:3, foretells of a soon coming apparent fatal wound to the world’s economic and political systems. Yet out of this Götterdämmerung, or investment “flame out”, a leader, Revelation 13:5-10, and a banker, Revelation 13:11-18, will rise to establish order.

The banker will be the Seignior, an Old English word meaning top dog banker who takes a cut, will ascend to provide credit and moneyness.

According to bible prophecy, the Sovereign’s and the Seignior’s word, will and way will be the law of the land; these will supersede constitutional law and traditional rule of law that comes with national sovereignty.

Christian Believers Assembly in article The Stunning Revival of the New Roman Empire, writes: Ireland, Greece, Spain and Portugal has just seen the murder of their democracy and rights as a country as EU budget and commission has imposed stringent economic and fiscal rules over their country bypassing the laws of the countries. As it played out, we have seen how the EU parliament has imposed strict budget rules over a sovereign country, Ireland which will be forever be in debt to European, United Kingdom and IMF leaders.  

Perhaps Herman Van Rompuy will rise to be The Sovereign of Revelation 13:5-10,  as  the Afteramerica website relates that he has called for global governance: nation states are dead … The EU chief relates the belief that countries can stand alone, is a ‘lie and an illusion!’

Perhaps Tony Blair, because of his business connections, will rise to be The Seignior of Revelation 13:11-18 … Or perhaps the Seignior will be Olli Rehn, one known for calling for calm as related by Ambrose Evans Pritchard in article Telegraph article Greek Rescue Frays as Irish Crisis Drags On … Or perhaps the Seignior will be Jean-Claude Trichet as the ECB leader has received the Charlemagne Prize.

All seigniorage will come and go through The Seignior: all sovereign wealth funds, and banks will report to him, as there will be unified regulation of banking globally as referred to, in the James Politi and Gillian Tett Financial Times article, NY Fed Chief Timothy Geithner In Push For Global Bank Framework.

Soon there will be no national seigniorage anywhere as sovereign debt interest rates will explode to the point where there will be no buyers. This is already the case for Portugal, Italy, Ireland, Greece and Spain, as they have lost their debt sovereignty, that is their seigniorage authority Their fiscal needs are now provided for by the ECB which buys their bond issues, as well as debt from their banks. The ECB has been the sole lender to these nations. Now both the ECB and the EFSF monetary authority is The European Seignior.

Sovereign nations and their constitutions will be history, as principles of global governance working through regional economic and security pacts and leaders’ agreements will serve as the basis for regional currencies or a global currency.

The Seignior’s financial and economic power will complement the military and political power of the Sovereign; and between the two they own the world “lock, stock and barrel”.

After Götterdämmerung strikes, Bible prophecy foretells in Revelation 13:4, that this apparent wound to fiscal seigniorage and credit seigniorage will be healed, and that the people will be amazed and follow after the beast, meaning that people will give allegiance to global governance, as all vestiges of national sovereignty is swept away. The people of Ireland as well of all those in the Eurozone will be giving commitment to European economic governance where fiscal sovereignty comes from Brussels or other major political center.


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