As the European Central Bank (ECB) continues to wrestle with the decision of when and how quickly to wind down its quantitative easing (QE) program while inflation remains stubbornly below the 2 percent target and likely to stay well below 2 percent for the foreseeable future, it’s worth noting that there’s a new nightmare to add to the equation: The euro has surged in value this year, a move that not only depresses exports in recovery economies like Spain and Portugal but also depresses inflation. And one of the things holding down the value of the euro is the ECB’s QE program. So if the ECB tapers off the QE too early and quickly it’s going to make an overly-strong euro even stronger while dragging inflation even lower, potentially derailing fragile recoveries in the austerity-inflicted member states. And that means not sending the wrong signals is a key goal of the ECB is things are going to go smoothly. Guess which signals are being sent.
As the title indicates this program brings up to date a number of stories covered in the past and introduces some new topics of discussion. The topics covered include: JFK’s 1963 attempts at normalizing relations with Cuba; new information casting doubt on the “lone nut” theory of the 2001 anthrax attacks (which fingered Bruce Ivins as a “lone nut” perpetrator); Spanish Prime Minister Mariano Rajoy’s suppression of political dissent, echoing the policies of Francisco Franco; a Catholic mass held to honor the memory of the murderous World War II Ustachi leader Ante Pavelic; the global economic elites’ pursuit of the same economic policies that drove people into the arms of fascism in the 1930’s; Ayn Rand’s role in investigating the 1940’s movie “It’s a Wonderful Life” as possible crypto-Communist propaganda; the GOP’s implementation of fraudulent “dynamic scoring” economic evaluation; theoretical physicist Stephen Hawking’s warning that the development of Artificial Intelligence could threaten the existence of humanity; Mr. Emory’s 1995 warning that the development of Artificial Intelligence could threaten the existence of humanity.
Fascist dictator Francisco Franco passed away decades ago, yet his political legacy lives on. Throughout Spain, memorialization of Franco and his soldiers continues. The perpetuation of that legacy is evident in the political resume of Mariano Rajoy, the son of a Franco judge. Rajoy’s Popular Party is a “kindler, gentler” edition of Franco’s Falange. In addition to jingoistic saber rattling at the British territory of Gibraltar, Rajoy is joining with Argentina to pressure the UK over the Falkalnd Islands. By dancing in tandem with Argentina, Rajoy is embracing the geo-political legacy of Hitler, who selected Spain as his first target for control because of its influence in Latin America–Argentina in particular.
With much of the human race foaming at the mouth over the World Cup competition currently underway in Brazil, we pause to note the profound connections between the world of sport, international fascism and organized crime. After highlighting fascist soccer fans in attendance in Brazil, the program notes the cesspool that is the International Olympic Committee, imprinted with fascist participation by Juan Antonio Samaranch, Francisco Franco’s former Minister of Sport. The 1972 Olympics massacre in Munich featured possible complicity by elements of the German government and the Underground Reich. The program concludes by looking at American organized crime links to the milieu of the NFL and the probable Mob fixing of Bobby Riggs and Billie Jean King’s “Battle of the Sexes.”
Economically beset Spain is waxing aggressive toward British-governed Gibraltar, using that principality’s “fiscal irregularities” as justification because of the nation’s “EU obligations.” The Rajoy government is coordinating its efforts with Argentina. The cooperation is military, as well as political. Rajoy’s People’s Party evolved from Franco’s Falange. It does not appear to have altogether shed its fascist heritage.
The more things change, the more they stay the same. The EU’s leaders want to welcome you to the new “New Normal”.
Following last weekend’s announced $125 billion bank bailout in Spain, the ever present question of “what’s next” has been looming larger than usual this past week. So has the past. As we all know, the past is indeed prologue. Especially the parts involving mind numbing stupidity.
Supporters of Berlin’s austerity drive across the eurozone were relieved by Ireland’s approval of the ‘Fiscal Compact’ on Thursday. But this ‘good news’ coincides with a growing backlash by key leaders an officials against the endless calls for austerity without a ‘pro-growth’ component. Except, as usual, not really.
In 1936, Reichsmarshall Hermann Goering observed that “Spain is the key to two continents.”
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