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When I logged on to my computer this morning, the first thing I wanted to see was how, if at all, the Greek debt crisis was resolving, especially considering that I proposed yesterday that I expected that, after all the posturing and political rhetoric, a deal would be struck.
When I came to the ADVFN newspaper, there were, as I had expected, several post already published, but the one that caught my attention was Andre Minassian’s Why Euro Was Created? I could not help but compare Andre to John the Baptist, the original “voice crying in the wilderness.”
Whilst some might consider that label somewhat acrimonious, I bestow it with dignity and honor upon a man willing to tell the truth in the midst of many who fail to understand it, which then also means a failure to understand what is at the root of the Greek crisis, notwithstanding Greece’s fiscal contribution to the problem.
At the very foundation of the problem is, as Minassian briefly, but vividly explains, is the usurpation of the sovereignty of the individual nations (although Angela Merkle seems to think German is still abundantly sovereign). The sovereign states that sprang from the nationalization of Europe during and following the fall of the Ottoman Empire is slowly, but surely being eroded.
The problem is that sovereignty is never really lost. It is always lost or, perhaps more appropriately, yielded to another. In order to participate in the EU, previously sovereign nations must convert to the euro and become subject to the authority and regulations of the European Central Bank.
In fact, the reality is that most, if not all, “sovereign” nations have become beholden to their central banks. In Britain that is not necessarily a reason for concern, but anywhere and anytime multiple sovereignties yield some of their self-rule, they begin a descent into a sort of slavery to what is sold as “the common good.”
The United States was conceived as a republic of sovereign states, but, especially under the Obama administration, the individual states’ rights are disappearing as the federal government usurps more and more authority as it has so ostensibly done in the past week.
The United Nations has been quietly usurping the sovereignty of nations as those individual states acquiesce to UN programs, such as its Agenda 21, that was specifically created to use the preservation of global resources as a means to the end of ending or, at minimum, reducing national sovereignty.
This is not a political website. Neither is this a political column. However, the financial crises that erupt or evolve never happen in a vacuum. Is the creation of the euro the reason Greece has a debt crisis? Of course not. But it is a contributing factor, and the more beholden Greece becomes to the EU and the ECB, the less sovereign it also becomes.
May I suggest that, if it can happen to Greece, it could happen elsewhere. Brits should be relieved that it is probably less likely to happen in the UK than most anywhere else.
