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TheStreet Open House

ECB Bond-Buying: The Rape of Europe Continues

NEW YORK ( Bullion Bulls Canada) -- In the summer of 2011, I wrote a four-part series titled Economic Rape of Europe Nearly Complete . In that extended piece; I detailed how the combination of three malevolent forces was decimating the economies of Europe one-by-one.

Through the relentless fraud/manipulation in Euro debt markets, sadistic "austerity" and so-called "bailouts" that just bury these insolvent economies even deeper in debt, the Western banking cabal is systematically looting these nations.

The manipulation of European debt markets was (is) accomplished through the fraudulent rigging of the credit default swap markets, combined with the complicity of the Big Three ratings agencies and the West's media Oligarchs.

The bankers manipulate credit default swap prices higher, simply by piling-on massive bets that a particular eurozone nation will default. The propaganda machine immediately shrieks that "risk" has now increased for this debt market and then the accomplices in the ratings agencies comply with a ratings downgrade -- immediately driving interest rates higher.

With the massive debts being carried by these economies, any increase in interest rates automatically makes the economy significantly less solvent, turning this tag-team of fraud into a self-fulfilling prophecy. With the banksters literally capable of manipulating eurozone interest rates to any number they desire, as a matter of simple arithmetic it is impossible to "bail out" any of these nations -- by lending them more money.

The moment more bailout dollars are released, the banksters immediately drive interest rates even higher. Thus all the bail-out dollars are siphoned out of the economy in the form of higher interest payments to the Bond Parasites, meaning all that each "bail out" accomplishes is to pointlessly pile on more debt.

Meanwhile, as more and more of every revenue-dollar is sucked out of these economies by the debt-market fraud, austerity is literally nothing less than economic suicide. In economies already starved for capital, austerity is the precise equivalent of a doctor putting a severely anorexic patient on a diet.

The empirical evidence is overwhelming. In every European economy that has inflicted austerity on its population, the rate of economic contraction has accelerated, and the size of the budget deficits has grown larger instead of smaller. Since the entire raison d'etre of austerity is to (supposedly) shrink these deficits, it is nothing less than deliberate suicide to continue this policy, and serves no purpose except to free-up more dollars to be paid out as interest payments to the Bond Parasites.

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