Deutschmark redux. US Fed (not IMF, ECB, Germany or EuroZone members) will pay for managed default of Greece sovereign debt.

Saturday, October 01, 2011

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Deutschmark redux. US Fed (not IMF, ECB, Germany or EuroZone members) will pay for managed default of Greece sovereign debt. Bernanke fiat-paper funnymoney to buy time for Germany to re-introduce Deutschmark and exit Euro. Currency printers instructed.
This is what accounts for the surprisingly easy passage of the Greek-related bailout legislation in the German Bundestag on Thursday 29th September 2011. Key German parliamentarians were privately assured by Angel Merkel that the measure would cost Germany nothing. The US Fed syndicate would stump up all the fake money necessary to fool the markets and buy time for Germany's long-planned exit from the Euro.

This extra funnyfunding from the US will bring the Fed's total bill for global fiat-paper support since 2008 to something in excess $100 trillion (not $16 trillion as reported in the Western mainstream media).

The media-fooling scam in Germany was intended to create a quiet operating space for the re-introduction of Germany's original post-World War II currency, the Deutschmark, so that the country can finally ditch the Euro and recapitalise its zombie banks.

The Deutschmark currency printers have been given urgent new hurry-up contracts. And it is time to unpack all those old 1948 Deutschmarks. They were carefully stored away in the vaults of the Deutsche Bundesbank, Deutsche Bank AG and Commerzbank AG (Dresdner) for such a moment as this. It appears that only the reintroduction of the Deutschmark can save Angela Merkel from her electorate.

One result of Germany leaving the EuroZone will be an immediate collapse in the value of the Euro for those countries which choose to remain in it. A massive devaluation for the rest of Europe will be unavoidable. Some say that this could be the Iceland-exit for Italy and Spain.

More here (29.09.11) and here (14.12.10).