Chicken Licken continually claimed that the sky was falling down. Wolf is doing the same today. He warns of chaos, the apocalypse, cats and dogs living together, end of the world type stuff, if Greece leaves the Euro.
Wolf tries to paint a picture of the utter devastation of Europe should Greece leave the Euro, and in doing so injects a few grams of terror and mayhem. In some detail the multiple Bilderberg attendee (who has not once reported on the many Bilderberg meetings he has attended so we can assume he is in total agreement with their agenda otherwise he would have exposed it) scares the shit out of any Greeks reading his latest rant of Bilderberg bullshit.
So what might a collapse entail?
As explained earlier in this series, a cessation of external official funding could trigger a disorderly collapse. The government would default. The European Central Bank would argue that Greek banks no longer possess good collateral, which would prevent it from operating as a lender of last resort. There would be comprehensive bank runs. Athens would impose exchange controls, introduce a new currency, redenominate domestic contracts and default on external contracts denominated in euros.
This would be chaos. Unpaid police officers and soldiers are unlikely to keep order. Looting and rioting could occur. A coup or civil war would be conceivable. Any new currency would depreciate and inflation would soar.
[source : A permanent precedent, FT, 18/05/2012]
Wolf then really goes to town with the doom and gloom, forecasting the end of the world.
Inflation would soar in the periphery; in core nations, deflation would set in. Inflation should erode peripheral nations’ debt mountains, provided they were promptly redenominated in the new domestic currencies. The value of the foreign assets of core countries would fall, their new currencies would soar relative to erstwhile partners and their economies shrink. It would be painful for all.
This analysis may even be too optimistic in its estimate of the impact of a full break-up. The mechanisms at work would be powerful: runs; the imposition of (illegal) exchange controls; legal uncertainties; asset price collapses; unpredictable shifts in balance sheets; freezing of the financial system; disruption of central banking; collapse in spending and trade; and enormous shifts in the exchange rates of new currencies. Further government bailouts of financial systems would surely be needed, at great cost. Big recessions would also worsen already damaged fiscal positions.
Such a break-up would also trigger legions of lawsuits. Beyond this, the EU would be cast into legal and political limbo, with its most important treaties and its proudest achievement in tatters. It is impossible to guess at the result of such a profound change in the European order.
More extreme ranting is concluded with what I think is the true Bilderberg position.
But the eurozone must become a stronger union or it will disappear.
But besides failing to mention what the Bilderberg agenda regarding the Euro is, Wolf also fails to mention Iceland.
Iceland, who told the bankers where to go.
Iceland, who successfully prosecuted some of the protagonists of the crisis that the vampire bankers wrought.
Iceland, once a victim of the vampire bankers who were sucking the economy dry, now has a positive but more importantly independent future and a more equal society.
No wonder the multiple Bilderberg attendee Wolf fails to mention Iceland.
Yes, Iceland did receive some small IMF assistance, but has successfully avoided having the IMF sinks its fangs into Iceland to hand it over to the globalists who caused the crisis in the first place.
Greece should consult with Iceland.
Spain should consult with Iceland.
Italy should consult with Iceland.
Little Iceland has scared the shit out of the bankers and their minions.
That's why during this crisis the bankers and their minions like Wolf fail to mention Iceland.
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