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Tuesday, October 11, 2011

Cheers to Slovakia

Been a very busy day for me so I will be brief:  There are 17 nations in the European Union-  16 of them ratified to bailout the European banks via a euro-propping fund called European Financial Stability Facility (EFST), something the US Federal Reserve and Treasury has done Constantly with US Banks and to the great Detriment of the American people.  One nation was left.. geographically tiny Slovakia.

Would they stand strong and resolute in their (correct) principles that a nations' citizenry does not use its tax revenue (in Slovakia's case $10 billion euros) to bail out banks, much less those of other nations?  Would they veto the bailout which those greedy bastard Investors were so optimistic about on Monday to push the Dow up 330pts based on Nothing substantive?

Yes.

"(Europe) suffered an embarrassing and potentially costly setback on Tuesday night when the Slovak Parliament failed to approve the expansion of the euro rescue fund, a development that appeared likely to bring down the government.  But the country’s leading opposition party said it would be willing to discuss support for the fund after the government fell, pointing to eventual approval of the deal. Officials in Brussels were counting on a political solution, but weighing the possibility of some kind of messy workaround if Slovakia failed to pass the measure. " (NY Times)

Its not a 100% total victory-- slime always have a way of moving forward via cracks and crevasses-- but you learn over time when dealing with banking cartels and the power of the global system, to take your victories wherever you can.  And severe political egg on face for the EU counts as a win.

Wonder how all those 'clever-clever' Investors will react tomorrow?