7 December 2011
7 December 2011
Here’s something that Ginny Nieuwsma and the lying crew at oca.org REFUSED to give you. Click here for a link to Fathausen’s rant at the Far Right American Enterprise Institute. WATCH IT. You CAN keep your dinner down. BE INFORMED. Yes… this idiot actually believes all this rightwing rubbish. If it’s any consolation, he’s not as bad as Webster and Potapov are… watch this, and draw your own conclusion.
As for me, “Fathausen delenda est”.
The EU summit scheduled for 9 December will be judgment day for the Euro Zone. Dark clouds are gathering over united Europe. After their bilateral meeting, Angela Merkel and Nicolas Sarkozy called for “structural changes” in the Euro Zone and a new treaty… the contents of which remain a mystery. A little earlier Italian Prime Minister Mario Monti acknowledged that his country would follow in the wake of Greece without a package of anti-crisis measures. Meanwhile, experts are debating what the world will look like after the Euro.
The Euro Zone’s debt problems have become a Gordian knot that EU officials are unable to disentangle. EU leaders prefer simply to cut it. Apparently, at the 9 December summit in Brussels, they’ll agree that the majority of EU members would switch back to their national currencies before the New Year. Only Germany, France, Belgium, and the Netherlands will keep the Euro for a transitional period that will tentatively last for three years. The timing of this fateful decision was well thought out… economic and political life in Europe slows to a crawl around Christmas and the New Year. This lull’s the best time for switching back to old currencies and fixing their exchange rates. Panic wasn’t avoided… the leaks after the Merkel-Sarkozy meeting on 5 December caused explosions on stock and currency markets. If the panic continues, the Old World’s economy will grind to a halt.
To stop the Euro’s slump and the dollar’s growth, trade on currency markets is being suspended and the main exchanges in America, Europe, and Asia are being shut down. The holders of Euros and Euro-denominated securities are doing all they can to get rid of their dangerous assets. The rates of national currencies and the future of the Euro in the countries that will keep it remain unknown. The panic may result in a run on banks in the Euro Zone, causing the baking system to collapse. According to leaks in the Western media, Euro Zone authorities are prepared to freeze all accounts until January 2012.
Experts are all but convinced that Christmas in Europe will be marked by massive riots and protests. However, this isn’t the only problem, or even the main one. Some companies have signed deals in Euros and it is unclear what they should do now, especially if these deals are slated for next year. Many experts are surprised that EU officials are in such a rush. Converting deals to national currencies will require a great deal of time and money. Nevertheless, there’s no money, and it’ll take several years to fix currency rates. The economy simply won’t function throughout this period unless a reliable currency appears. The only candidate is the US Dollar. Only the US Federal Reserve will be able to stop this emerging economic collapse by selling huge amounts of dollars.
What was described above is not reality, but one of the possible scenarios. This dystopian vision was meant to show how seriously sick Europe is. At the same time, this scenario may still come to pass. Neither officials nor experts are unanimous on what to do with the knot of European problems. Should they disentangle or cut it? Which is the lesser disaster… abolishing the Euro or keeping it? Some experts believe that the losses from abolishing the Euro will be modest, all the more so since the introduction of the common currency hasn’t been very beneficial for the Euro Zone economies.
Igor Nikolayev, FBK strategic analysis director, said, “Our analysis of macroeconomic indicators shows that the introduction of the euro hasn’t produced any gains. No tangible increase or decrease in the GDP or industrial production has been registered. What is there to regret then?” Some economists think that the introduction of the euro couldn’t have produced any gains because its main economic goal was to redistribute financial flows in favour of French and German banks and enhance the market positions of German exporters. Boris Kagarlitsky, director of the Institute of Globalisation and Social Movements (IGSO), explained, “Europe’s deindustrialisation took place not under Chinese pressure, but due to the concentration of almost all industrial production in Germany. Less effective industrial zones proved unable not only to compete with it, but even to modernise themselves for future competition”. He believed that a systemic economic overhaul requires domestic currency and monetary systems and room for flexibility in how countries manage their budgets. Having a common currency makes this impossible.
Peripheral EU countries like Greece have found themselves in a trap. An expensive currency (the Euro) is making it hard for them to compete with the developing economies of China and India. Nor can they compete with Germany because of the gap in industrial potential. Kagarlitsky’s convinced that a “smooth transition” from the Euro to national currencies would benefit all problematic Euro Zone countries. Abolishing the Euro would cause difficulties in the financial systems of Germany and France and slow down their economic growth, but revive other economies that have no opportunities to grow inside the Euro Zone. However, all experts polled by RIA-Novosti agree that a “smooth transition” is absolutely impossible.
First, the countries concerned would have to destroy the economic contacts they amassed over the past 15 years… numerous Euro-denominated debt obligations, shares of European companies, and contracts. Yuri Danilov, director of the Stock Market Development Centre, believed, “The European countries will be simply unable to deal with the Euro-denominated arrangements they have made over almost 15 years”. Abolishing the common currency may aggravate Euro Zone debts. Vladislav Inozemtsev, director of the Centre of Post-Industrial Studies, explained, “The collapse of the Euro would cause extreme mistrust in all European currencies and make it much more difficult to sell any debt securities. European companies would find it harder to borrow money”. Mistrust of sovereign European currencies would paralyse the economies of the countries concerned or compel them to look for a currency replacement, for instance, the US Dollar. Nikolayev from FBK thought that the global economy’s teetering on the brink of crisis and that abolishing the Euro would inevitably push the world into a new abyss.
Danilov attributes talk of the Euro’s early death to the imprecise interpretation of the term “the disintegration of the Euro Zone”. He explained, “The EU interprets ‘the disintegration of the Euro Zone’ as the withdrawal of one, two, or, at worst, four countries. These scenarios don’t involve the Euro’s disappearance as currency”. If the Euro Zone splits and the currencies of its “outcasts” are inevitably devalued, their industries may receive certain competitive advantages. At the same time, their budget problems would worsen and the threat of social and political destabilisation will become more pronounced. The Euro will shoot up, which, Inozemtsev maintained, would reduce the competitiveness of the countries operating with it.
Many experts maintain that the Euro Zone countries can avoid economic disaster only through collective action. Inozemtsev offered the following way out, “The only solution is for the European Central Bank to purchase securities from Greece, Italy, Ireland, and Portugal, which must be cleared in the next three years. This would cost 1.2 to 1.3 trillion Euros (50 to 54.2 trillion Roubles. 1.6 to 1.75 trillion USD. 1.03 to 1.11 trillion UK Pounds). If the ECB prints banknotes to redeem these securities, all the problems of European banks would be resolved and the mechanism of inflation put into action”. Inflation’s inevitable… it would stir up the European economy and devalue debt securities to the point that governments will find it very easy to pay them off at their nominal cost in about a decade. However, experts acknowledged that if the economic problems of the south go unresolved, the crisis is bound to make another round…
7 December 2011
I don’t have the time to translate the Russian-language original documents at the moment (real life calls, and that’s more important), but apparently Garklavs stated that Dickie Wood’s out of a job as OCA Representative in Moscow. If Garklavs arrived at the Centre on 1 December, this means that it took three days for the decision to be made public. We all know what happened, don’t we? Garklavs went to Chisty Pereulok to get his marching orders from His Nibs, didn’t he? For those with facility in Russian, see this and this. Portal-Credo’s a squiffy outlet, but it’s backed by an OCA official source in this case. I looked at oca.org, and there’s no news of this action there, and Dickie’s still “off” the clergy listings. This is secrecy of the worst possible sort. If an analogous action were taken in the MP, trust me, Vlad Legoida would have a post up on Patriarchia.ru tout suite. Vladimir Romanovich is a real pro… Ginny Nieuwsma is a real phoney… just look at the two sites. Patriarchia.ru is informative, prompt, and thorough… oca.org is secretive, laggardly, and disingenuous.
For all you itching ears out there… this Saturday, 10 December, it looks like Fathausen and Hilarion Kapral are going to concelebrate. See the confirmation here. Neither oca.org nor the official main ROCOR website have any news of this. What gives? Is this a Portal-Credo red herring (it wouldn’t be the first one)? Is this for real? If it’s for real, Fathausen’s coshing you in the face, yet again. He refused to tell you anything about his Texas shindig and his American Enterprise Institute speech on oca.org. It’s like they didn’t happen, kids. What happened to his “evaluation?” This makes Herman the Vermin look downright forthcoming. Fathausen’s paranoid and sick secrecy makes Herman’s administration look like a paragon of “transparency”. Fathausen’s made it clear… only his coddled konvertsy “pets” mean anything to him… the rest of us can “get fucked” and he’s not polite or subtle about it. He’s nothing but a religious version of Rush Limbaugh… a lying, amoral, bloviating, grasping, and violent rightwinger (although I do think that JP’s fatter). Is THIS a Russian Orthodox bishop? Have we fallen that low?
The OCA’s not long for this world… all of Hilarion Kapral’s horses and all of Lyonyo’s men won’t be able to stop it. God have mercy on us all.
This Just In Department:
A source sent me this:
Word is that St Tkhon’s seminary had a meeting to decide if they should keep the seminary open or close this January.
No confirmation… but that’s what’s out there. If so… we’re in the DEEP kimchi for sure… and Behr’s out to destroy his rival (and using Fathausen to do it).
One of These Things is NOT Like the Other Department:
Someone told me that the Hilarion-Fathausen concelebration was announced on the ROCOR Eastern America Diocese website. Sorry… no sale. It belongs on the main site. FULL STOP. It shows laziness (at best) or malfeasance (at worst) on the part of Perekrestov, the site’s editor. I tend to think that it’s a combination of the two, with a bit of hutsky-klutsky thrown in for good measure.
Wednesday 7 December 2011