&host=rt.com&uri=/business/news/us-attack-euro-engdahl/&via=(none)&ua=CCBot/1.0 (+http://www.commoncrawl.org/bot.html))
Euro slump due to planned Wall Street and Washington’s attack - William Engdahl
Published: 19 May, 2010, 20:17
Edited: 21 May, 2010, 04:22
TAGS: EU, Crisis, Currencies, Economy
Germany's Chancellor Merkel says the Euro currency is at risk and that Europe faces its greatest challenge since the EU was formed.
It comes as stock markets in Europe and Asia tumbled on the surprise news that Berlin was banning types of 'short selling' – where investors profit by betting that shares will drop in value.
The euro is under pressure after nations using it had to pull together to bail out Greece, which is struggling under a massive debt and from strikes that are bringing the country to a halt.
Many say the aid package came too late and that the crisis in Athens may be a prelude to the currency crumbling.
William Engdahl, author and economic researcher, thinks it is the greatest challenge since 1999 when the euro was created.
He said the crisis is the result of an orchestrated attack by the U.S. on the dollar's main rival.
“The whole attack on Greece and the attack on the euro originated from a concerted strategy of Wall Street and US Institutions to permanently cripple or try to cripple the only alternative reserve currency anywhere in the world that can challenge the dollar,” Engdahl told RT.
19.05.2010, 13:41
1 comment
Government encouraging innovative business growthThe government has raised its financial support of the small and medium size business sector 16 times in the last 5 years and is looking to boost innovative entrepreneurship. |
20.05.2010, 12:31
1 comment
Megafon in line to be first 4G operatorTelecommunications company, Megafon, could become the first Russian cell operator to receive the frequency range to build a 4G or fourth generation network using Long Term Evolution technology. |
If Russia demands to be paid in Euros for it's gas, then that will drive the price up for the Euro since it will increase demand for this currency. Russia is a key factor in this.
We will do anything to protect the petro-dollar. Read "Confessions of an Economic Hitman" for examples of how we do it. The euro was getting too strong in relation to the dollar. How convenient that the derivatives crisis already made every country financially weak. The Federal Reserve and Treasury Departments have unlimited access to dollars by creating them out of thin air, and the rest of the world still gives the dollar value because it is the main reserve currency. That status gives the plotters in the US shadow government a huge hammer with which to "punish" countries that do not line up behind us and do things our way. Sorry, but I think that is what is happening. Engdahl has hit the bulls eye.
Any private (or public) central bank that issues usurious fractional-reserve currency backed by hypothetical debt is a criminal organization. Nations that don't want to remain enslaved to fraudulent central banks need only issue their own public and legitimate currencies such as silver dollars and renewable energy credits (RECs): JPChance.wordpress.com