Treasury Secretary Timothy Geithner Flies To Europe In Advance Of Competitiveness Pact Summit

Andrew Ackerman in Dow Jones Newswires article Geithner To Discuss Libya, Iran Sanctions Tuesday in Germany reports U.S. Treasury Secretary Timothy Geithner plans to visit Frankfurt and Berlin Tuesday for meetings with senior government officials there, the Treasury Department announced Friday. Geithner will discuss “global efforts to impose sanctions applying maximum pressure” on the regime of Col. Moammar Gadhafi of Libya as well as sanctions on Iran for its “failure to meet its international obligations,” Treasury said. Treasury said Geithner’s agenda also includes a discussion of the global economic outlook and progress on international financial overhaul.

Timothy Geither will most assuredly meet with Angela Merkel, as the world faces a two fold critical juncture.

The first critical juncture is the presentation of the German and French developed Competitiveness Pact which Leigh Phillips in EUObserver February 9, 2011 article Eurozone Summit Looms Amid Growing Hostility to Franco German Pact reports would mandate a common corporate tax base, harmonise retirement ages, eliminate indexation of wages to inflation, and establish a debt brake on government debt via constitutional amendments. This pact does noting to address the current sovereign debt crisis of basically insolvent European Financial Institutions, EUFN, such as Banco Santender, STD. Nor does it address the burdensome interest rate on the recently announced Bailout Agreement for Ireland. Nor does it address the ongoing funding needs of Portugal, which has no debt seigniorage, but instead finances its needs by selling debt to the ECB.   

The second critical juncture is that the economic and political paradigm of Neoliberalism failed on, February 22, 2011, as seigniorage failed, with the downturn in distressed securities, like those held in FAGIX, which caused the stock market, ACWI, to turn lower from its February 18, 2010 from a high of 49.24.

Bible prophecy of Revelation Chapter 13 communicates that a new political and economic paradigm, that being rule of the sovereigns, will emerge out of Götterdämmerung, an investment flameout, where a Chancellor, that is a Sovereign, and a Banker, a Seignior, will arise and govern through global corporatism. Such leadership may come out of Germany heralding the strength of a revived Roman Empire, as Germany has its ancestral roots in that former empire. National leaders will waive national sovereignty and announce Framework Agreements. These Agreements will appoint stakeholders to oversee regional economic governance. The two leading Sovereigns will provide a new seigniorage, that is a new moneyness, with stimulus for global corporations, and austerity and democratic deficit for all peoples.  Perhaps one of these two leaders will be EU Council President Herman Van Rompuy as he has defends the European Union as being the “fatherland of peace” euobserver.com, January 17, 2011. The word, will and the way of the sovereigns will be law replacing constitutional as well as historical rule of law.

I encourage a read of my article Will Angela Merkel’s Competitiveness Pact Resolve The Eurozone’s Issues? to help understand that the world stands now at a great inflection.

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One Response to “Treasury Secretary Timothy Geithner Flies To Europe In Advance Of Competitiveness Pact Summit”

  1. European Debt Crisis? You Ain’t Seen Nothing Yet! | Reflections on a Revolution ROAR Says:

    […] – has been stalled in its tracks by an increasingly inward-looking Germany.The chimerical Franco-German competitiveness pact – which is nothing short of an attempt to place the periphery in a tight budgetary straitjacket […]

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