05/16/2016 - Yra Harris: Authorities Reveal Their Intentions To Financially Repress The Germans
“ECB President Draghi and IMF Director Lagarde HOPE to punish and repress the German saving class in an effort to salvage the EU via the alleviation of debt owed by the so-called peripheral nations .. German intransigence on the issue of budget profligacy means that the ECB will extract German wealth through financial repression, which means the that the frugal burghers will be taxed through negative interest rates to bail out the debt-burdened peripherals. Germany will be forced to share its current account and budget surpluses with the entire EU by direct transfer payments or financial repression .. The IMF is attempting to push Germany to undertake massive fiscal stimulus through welfare payments for the settling of refugees as wells public investment on significant infrastructure projects. The IMF has coupled with Larry Summers in promoting fiscal stimulus as an alternative to the questionable effectiveness of NIRP. At this juncture, a massive program of infrastructure investment would lead to an increase in German inflation because the German economy is just about at full employment. The end of German negative output gaps with the commencement of fiscal stimulus would mean pressure on German prices to rise .. At this juncture it appears that the IMF and ECB are both searching for ways to debase the wealth of German citizens either through NIRP or an inflation-creating infrastructure program instituted when the German economy has little excess capacity. The more debt the ECB purchases the greater the responsibility of German authorities to bear the burden of a tragically flawed EURO. Creating the unified currency without a harmonized budgetary process has led to a massive bundling of potential problems .. The elites are terrified of vox populi. For the European bond markets and its sovereign debt. The question will become more germane: WHO GUARANTEES THE ECB?”
– Yra Harris
