Britannia Radio

 

Time Travel With The Euro
Ted Twietmeyer
1-1-10

 

It's seems only fitting that my first article for 2010 should take a look back in time. Since the demise of the dollar is eminent, let's go back to the nineties to see how the Euro took root. This turned out to be a fascinating and educational trip. It provides us a glimpse of what could happen if the US, Peso and Canadian dollar were all replaced by a new currency that may not even exist yet. Or perhaps by a currency already printed and waiting in warehouses.   Here are a few excerpts taken verbatim from an article on the web written back in 1996, a few years before the Euro became the new dark reality. There is much to be learned from what was written at the time:   "The European Monetary Union (EMU) is scheduled to start by January 1, 1999. So far Luxembourg is the only country to fulfill the tight Maastricht criteria for joining the Euro, but it is nevertheless likely that most of the European Nations will be allowed to join the common currency. This will be made possible through higher taxes and creative accounting during 1997" [1]   Recent polls in Germany and France show that the man in the street is not yet convinced by the Euro. The French are afraid of loosing decision power in their national economic policy, whereas the Germans who have faced two major inflations in 1923 and 1947 fear that it will be all over for the mighty Deutsche Mark. The rulers have therefore scheduled a continent-wide advertisement campaign in order to explain the advantages of the new currency to the masses." [1]   "The total amount of gold held by European central banks (14,400 metric tons) would fit very well for backing 100% of the needed amount of circulating Euro bills and coins (still, unlike Switzerland's holdings, it would be far from enough for backing the much larger monetary aggregate M1)." [1]   "In the present state of the art of European central banking, gold is an asset of monetary reserve and the property of the individual nation's people. Handing over 14,400 metric tons of gold to the monetary reserves of the soon-to-be European central bank would require constitutional amendments in many countries. Which politician in any given country will take the responsibility for doing this?" [1]   It's curious to see how there was great resistance to the Euro. Apparently gold was required for any country that entered into the European Monetary Union.   That advertising campaign worked quite well   aided by cramming the Euro down the throats of millions of Europeans who had already expressed their objections to it.   Let's take a look at that statement regarding gold in European central banks. No government leader can legally be "handing over" gold as suggested. This is embezzlement and grand theft of a country's treasury!   So just how much is 14,000 metric tons of gold worth back in 1996? A metric ton = 2,205 pounds. Therefore 14,400 metric tons = 31,752,000 pounds. Converting this into ounces we get 508,032,000 ounces of gold. (Without an ounce to troy ounce conversion.)   In June 1996, gold averaged $400/ounce. [2] This comes out to $203,212,800,000 or $203.2 billion dollars in 1996 currency.   With so few countries signed on with the Euro in 1996, this was probably was more than enough to back all the Eurodollars in existence at that time.   Today, that same 14,400 metric tons of gold (if it ever existed) at $1100/ounce would be equal to $558,835,200,000 or 558.8 billion dollars. Even though this is actually a half-trillion dollars, is it really enough gold to cover ALL the Eurodollars in circulation today? That fundamental question needs to be answered.   If there really was that much gold on deposit in 1996, did it remain on deposit after all the world-wide bank failures and the world economic depression began? The answer to that remains unknown, but somehow I doubt it's all still there.   In late 2009 we heard about thousands of fake gold bars which have tungsten-cores. Since tungsten has the same weight as gold, these will go undetected until X-rayed or melted down. Some or all of the gold bars stored in Ft. Knox might be fakes (if any gold bars were really there.) But just how safe is the Euro? What if their stockpiles have been infiltrated with fakes? What then? If this is so then the Euro is not on any safer footing than the dollar  and in fact may even be worse since so many countries around the world are now dependent on it.   If tungsten-plated gold bars are found in European vaults will a disclosure be made about it? I strongly doubt it would ever see the light of day. Those in power will kill anyone who exposes it (i.e., arrange accidents) before allowing Roman Empire 2.0 to come crashing down around their ears. People have been killed for having far less dangerous knowledge.   There is another interesting document written sometime after 1999, "Cross-Cultural Acceptance of the Euro: Assessing the Effectiveness of Public Information Marketing" by Steven W. Staninger, University of San Diego. [3] The abstract begins with "A massive public information marketing campaign has failed to encourage widespread acceptance of the new currency.  This paper analyzes the reasons for this failure, and suggests strategies for future campaigns." [3]   A massive, forced propaganda effort originating from the EU directorate in Brussels helped force acceptance of the Euro:   "This is an unprecedented act of political will and cross-cultural homogenization.  Consumers of public information in the EU were exposed to marketing campaigns from both their home countries and the EU directorate in Brussels. The extraordinary amount of public information to be disseminated in the eleven official languages of the EU and among many cultures and countries represents a tremendous challenge to the EU information office. (EU: Europa, 1999)" [3]   Staninger also states, "The economic and monetary union of Europe was established in 1957 by the Treaty of Rome. (European Union [EU], Chronology, 1999)" [3]   The European Union finally became a living reality on January 1, 1999. Would those involved in forming it back in 1957 imagined it would take 42 years to become a reality?   So just what does all this tell us? The EU directorate in Brussels proved they could change the thinking of an entire continent over a relatively short period of time. A similar updated public brain-washing (i.e. brain-scrubbing) effort could be done even easier today. Up until the nineties media consisted mainly of radio, television and print. Cell-phone texting which had just begun slowly in 1995 was not as widespread as it is today. If the public is promised a new currency will make the dying economy recover, everyone will be falling over each other to embrace it.   The internet was still in its infancy with most subscribers using dial-up access when Brussels began their propaganda campaign. Imagine the media and internet blitz those same people could do today using broadband internet and cell phone spamming to persuade Europeans they must have just one currency.   However, time proves all things. Today, at least two countries are jumping ship with the Euro. Certainly more are probably thinking about it as prices in Europe have been inflated by the Euro. Certainly the EU propaganda machine must be working overtime to stop the mutiny. In the event propaganda doesn't work, Brussels may resort to some form of economic enforcement (blackmail) if rebelling (waking up) countries don't fall back into line.   A single currency is typical of many political ideas that sound great initially until they become grounded in reality. Many great ideas go through a metamorphosis, turning into something extremely unpleasant and even worse, later difficult to undo. Or political ideas simply become corrupted by those that start them to benefit the select few who reside in the inner circle of controllers.   And so it will be with any common currency started in North America. Water finds even the smallest crack. Future illegal acts or even new laws pertaining to the new currency will be designed for the sole purpose to make rich men even richer.   The old expression is still true  "Those who cannot learn from history are doomed to repeat it."   Ted Twietmeyer tedtw@frontiernet.net   [1] http://www.gold-eagle.com/editorials/gold_euro.html [2] http://www.kitco.com/scripts/hist_charts/monthly_graphs.plx [3] http://marketing.byu.edu/htmlpages/ccrs/proceedings01/papers/staninger.doc