Germany, long a hold out against a euro bond, will be participating in the enhanced EFSF Monetary Authority, which Angel Merkel assented to on both July 21, 2011, and then once again on Sunday August 7, 2011, most recently affirmed in joint communique with Nicolas Sarkozy, who described this as a European Monetary Fund. It is the beginning of Eurobonds. This European Debt Union came about by Leaders’ Announcement on July 21, and effected a bloodless Eurozone wide coup d etat, and ended Neoliberalism, as investors panicked and sold on Black Thursday, when they became aware that this created a default union. Since then world currencies, DBV, and emerging market currencies, CEW, have been sinking, marking the end of the Milton Friedman Friedman Free To Choose Currency Regime, and emphasizing the Age of Deleveraging which began in May, when world stocks, ACWI, began to turn lower.
And now, Reuters, according to Welt am Sonntag, reports that the German Government no longer rules out agreeing to the issuance of euro zone bonds. The article relates, “Preserving the euro zone with all its members has absolute top priority for us,” according to a government source quoted in the newspaper under the headline: “Government no longer excludes European transfer union and joint euro bonds as last resort.” And the article continue, “In case of emergency, one would thus even be prepared to accept the introduction of a ‘transfer union’ and at the end of the day even joint euro zone bonds.
Nick Beams in WSWS article A turning point in the crisis of world capitalism, writes: “In the decades before the outbreak of World War I in 1914, the global economy rested on the British pound. Sterling was effectively as good as gold because Britain was the chief supplier of capital to the rest of the world. While it had been eclipsed as the “workshop of the world”, it was still the world’s chief financier, both because of the global role of its banks and finance houses, as well as the vast financial resources it was able to draw from its colonies, above all India. World War I struck a major blow to Britain’s financial position from which it never recovered. In the absence of a currency that could function as world money, the international finance system disintegrated in the inter-war period and the world economy fractured into rival trade and currency blocs. Only with the rise to global dominance of the US after World War II was a new international financial system established.”
Democracies flourished with the fall of Britain, as the US Dollar, $USD, rose, and then expanded again as the world went off the gold standard in the early 1970s, and as the Swiss Franc and the Japanese Yen served as the basis for carry trade investment globally.
America rose to be a global super power on US Dollar Hegemony, and on US Federal Reserve ZIRP Policies, which provided a good principle and interest return on GSE securitized intermediate bond funds, such as Putnam American Government Income, PAGVX, and on US Treasuries, TLT.
The Leaders Framework Agreement, at the Brussels July 21, 2011, is the European Declaration of Interdependence, which waived national sovereignty and imposed Neoauthoritarianism. Sovereign individuals have been replace with sovereign leaders in the Eurozone which is now one of ten regions of global governance called for by the Club of Rome in 1974.
The Leaders Agreement was ordained by God and is a fulfillment of Bible Prophecy by both the prophet Daniel and the Apostle John..
Daniel interpreted Nebuchadnezzar’s dream as a Progression of Kingdoms in Daniel 2:31-35 and prophesied five kingdoms to rule over mankind:
1) Head of Gold: Babylon Empire
2) Chest and Arms of Silver: Merdo-Persian Empire
3) Belly and Thighs: Greek Empire
4) Legs of Iron: Roman Empire
5) Feet and Ten toes of Iron And Clay: British Empire and American Imperialism and ten regions of global governance
The Leaders Declaration of Greek Default marks the transition into the days of the ten toed kingdom of global governance, where dictatorship and state corporate rule in the world’s ten regions.
One of these ten regions, the Eurozone will manifest as a revived Roman Empire led by a Chancellor whose power will rival that of Charlemagne. The Sovereign will be accompanied by an adept European Banker, the Seignior. Their word, will and way, will work through regional framework agreements, to provide both economic governance as well as seigniorage, that is moneyness, in the coming Age of Deleveraging and Neoauthoritarianism, which replaces the Age of Leverage and Neoliberalism.
The elements of iron and clay symbolize diktat and democracy, and are by nature non-cohesive building materials. Eventually the fifth kingdom will give way to mankind’s sixth government, that is a one world government ruled by the Sovereign and described as beastly in Daniel 7:7, Daniel 7:22-25; Revelation 13:5-10 and Revelation 13:11-18.
Why, just why would God permit, and yes even ordain such a destiny? Part of answer is that God is communicating that He, not man, is sovereign, and that man has always needed, and will forever need a King. The good news is that Jesus Christ will return to establish his Millenium Kingdom, as prophesied in Daniel 2:35, Daniel 2:44-45, Daniel 7:13-14 and Daniel 7:26-27.