The EU is trying to scare money into risk assets. It may just take the money. I guess folks should have listened to Nigel Farage last year.
It’s that time again.
European elections are coming.
To paraphrase David Stockman – The world’s central banks have not suspended the market mechanism. They can kick the can, they can lie, they can move assets around on balance sheets, they can even call debts assets. But in the end there is no free lunch.
This essay by Murray Rothbard holds particular relevance as the Trans Pacific Partnership continues to be negotiated in secret.
If you don’t know him, this is Nigel Farage, head of the UK Independence Party. He is interesting to watch and offers important insight into what is happening in Europe generally. Usually from the floor of the EU Parliament.
He’s cool to listen to whether you care about Europe at this point or not.
Just watch as he throws down the electoral gauntlet at the end of this video, with a smile.
I have to say that I enjoy the United Kingdom Independence Party guys (UKIP), especially Mr. Farage. Here’s one of the clips that made him internationally famous. If there is large group of people in Europe who feel as Farage does then watch out. Things could get even more interesting across the Atlantic.
Poland is raiding the accounts of retirees. Italy is likely to do the same soon. New Zealand and even Canada (according to the attached article) are seriously contemplating seizures of retirement assets. One would be foolish to assume that American leaders are not thinking along similar lines.
This is disheartening as Poland appeared until very recently to be on the fast track to legit 1st tier European status. Sadly it has just taken a big step off of this track.
You’ll remember that he was going to make the Fed more “transparent.”