The ECB is Out of Control - All Checks and Balances Have Failed the System

[allthingsluxury]

Prof. Markus C. Kerber, Professor at TU Berlin, and James Turk, Director of the GoldMoney Foundation, talk about the European rescue fund. Prof. Kerber explains that the fund is in violation of the monetary union treaty. He talks about the current expansion and expected future expansions of the fund.

They talk about the rogue behaviour of the ECB. Prof. Kerber explains that the central bank's quantitative and qualitative easing is beyond its authority and against the spirit and letter of the treaties that created it. It has created a discriminatory credit market, is engaging in fiscal policy and creates market instability. He comments on the legal action currently ongoing in Luxembourg to bring the ECB to account and condemn its out of bounds behaviour.

Prof. Kerber explains that the system of checks and balances is broken down when it comes to the ECB and tells of the public outcry in Germany when the Bundesbank tried to sell its gold.

He talks about the very strong discussions over whether to let Greece exit the euro. The position that no country would be allowed to fail set the stage for all the further bailouts.

He comments on the German rejection of the French attitude that the euro is a political project and that price is no object. He talks about the danger of Germany losing its creditworthiness.


Read the Full Report and Watch the Video Here:

http://jamesturkblog.blogspot.ca/2016/10/the-ecb-is-out-of-control-all-checks.html

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[forextoBTC]

I am not in favor of the too big to fail and subsequent bailouts. But that is a very surface view, I haven't studied the intricacies of the connections.

Simply put the current system of stock markets/banks/debt etc have led to a very interesting scenario. If you can be paid to borrow money(all big traders/investors are), then this a dream system.

Oh BTW is the FOMC a public institution?

[cocos]

Why there is no VAT on ECB loans/interests?

[yayayo]

If the German government would be smart it would follow the British example and leave the EU muppet show. But unfortunately the German government is doing everything to perpetuate the blatantly illegal practices at the ECB. However, if what I've read lately is true, the German population is beginning to wake up. And as we all know, when Germans get angry it won't end pretty...

The ECB, like all central banks that engage in so called "quantitative easing" by irresponsibly increasing the monetary base and/or buying government debt can only be characterized as a criminal organization. The actions of these banks destroy the real world economy and push people into poverty and ruin. We can only hope that one day the time will come, when the bankers and politicians that committed these crimes are being judged and punished.

ya.ya.yo!

[allthingsluxury]

I completely agree, other strong countries should follow Britains lead and get out of the highly corrupt EU system. The good news is, that a global wave is occurring that is rippling across the globe. This is a MAJOR global movement.

[jaysabi]

Why there is no VAT on ECB loans/interests?

Putting a VAT on financial transactions might dampen economic activity and suck liquidity out of the financial markets. When liquidity seizes up, you get market crashes and other adverse conditions that harm the economy. I think it would be a bad idea to slap a VAT on loans for this reason.

[Snorek]

If the German government would be smart it would follow the British example and leave the EU muppet show. But unfortunately the German government is doing everything to perpetuate the blatantly illegal practices at the ECB.

How come Germany leave EU when they are ruling it? They are behind everything what is going on, they are the core of the EU. If they leave then EU is totally gone.
United Kingdom leaved because they were tired of playing second fiddle and listen to what Germany+France wanted. European bureaucracy and banking is all joke BTW.

[jaysabi]

If the German government would be smart it would follow the British example and leave the EU muppet show. But unfortunately the German government is doing everything to perpetuate the blatantly illegal practices at the ECB.

How come Germany leave EU when they are ruling it? They are behind everything what is going on, they are the core of the EU. If they leave then EU is totally gone.
United Kingdom leaved because they were tired of playing second fiddle and listen to what Germany+France wanted. European bureaucracy and banking is all joke BTW.

I think that's not entirely accurate. They voted to leave because of a strong nationalistic push by UKIP, whose sole issue is having the ability to close their borders to immigrants, which Britain currently can't do because of EU laws prohibiting the restriction of movement. Everything that sprang up around the campaign was obfuscation and political spin to justify leaving, but the primary objective always seemed to revolve around immigration.

[cocos]

The plan of the international Jewish banking cabal is to have only 3 central banks in the world: The Federal Reserve Bank, the European Central Bank, and the Central Bank of Japan. All of these banks are headed by the Rothschilds.

See more: http://www.rense.com/general85/feddrec.htm