Thursday, October 20, 2011

One word describes France's dilemma - Dégringolade....

One word describes France's dilemma - Dégringolade....

Until the EU can find or invent a credible lender of last resort.

Well that was the only sentence that is relevant .....

So lets see now.
Credible, Who is and Who is not....LOL

Sickosy/Sarkozy....., hmmm well to start with this "French" MOSSAD/CIA implant, would you trust the dwarf with your teaspoons. His scurrying about clinging to the witch Merkel's skirts tells me he's got no pants on, so he's not credible in any way, and that rules the French banks out which are definitely completely busted in reality as it appears that after the unprecedented swathe of mass withdrawals of deposits then in reality the only thing they have left is debts and dusty deposit slips. Now there is a whole lot of invented cash to uncover there.?

So France is out.....

This is great news. France's postwar system of corporate governance is falling apart. The tripartite government bureaucracy is intricately intertwined with nationalized industry and compliant banks that turned a blind eye to any form of real accounting scrutiny. That is what is falling apart.

The entire raison d'être of Sarkozy, La Garde, et al, is to prevent any scrutiny of their banks and the legerdemain that has gone on for decades. That "French-led group of states want a full mobilization of the European Central Bank (ECB) to back-stop the system" are the same set of states that insisted upon tariffs and 'protections' for 'family farms' - in other words - the socialism that is the organizing premise of French modus Vivendi. The Germans have clearly lost interest in their previously assigned role.

It is good news that German politicians with foresight won't any longer play their assigned role in this French dextérité la malhonnêteté du jour. Germany's interest lies north and east. Hungary, Poland, Czech, Norse and Russian are the areas of opportunity - and the future of German investment. Playing schuldigen vater is tiresome - particularly for German politicians that reflect the desires of a German public that feel the guilt debt was put paid long ago.

How much French business, banking and government resembles the worst aspects of both zaibatus and keiretsus of post-war Japan. Japan had the better part of thirty years to reform and re-model these relationships in an economy that is actually productive, with a homogeneous population of savers with a nationalistically protective populace.

One word describes France's dilemma - Dégringolade.

The increasing attempts to obfuscate rule of law by making any pot of money available for any purpose is that sign of desperation. It's what failing corporations do - manipulating accounts to game their banks for another round of lending. The S&P action would really just seem to be a veiled threat egged on by US interests in collusion with US investment banking houses looking for exit plans.

When an Italian minister bleats a meaningless phrase like " A solution can only be found if Germany shows courage and vision" - he voices an unintentional irony of profound proportion.

German Central Bankers, Lawmakers, et al are displaying a surprising courage, a long term vision and some imaginative diplomatic brinkmanship all their own in questioning EU ''sanctity' - perfect word that!

And it is France's moralisateur that day by day shows that it is France that is the gear in this monstrous machine that is systemically irrelevant.


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