Financial Crisis an Excuse for Centralizing Control · December 01, 2010
“The subtle gravitational influence of the moon is imperceptible to humans yet is able to move oceans. Discreet changes to the rules governing European finance may in time have profound effects on the tides of capital that wash its shores,” wrote the Economist on November 4, 2010.
Europe’s new financial regulators will start centralized control over a substantial amount of the financial markets of Europe on January 1, 2011. The new rules take authority away from national regulators and place it on supranational regulators in Brussels.
“‘We see [the new agencies] as being the supervisors of the supervisors,’ says one official… “Considerable power will be given to the new authorities to write binding technical standards’ which national regulators will then have to enforce. ‘
But “many large insurers and banks, in London and elsewhere, also stand to benefit from common rules across Europe’s borders.
“The commission ‘wants to create an ever closer union,’ says one person involved in the talks. ‘That’s in their DNA and the crisis provides a good opportunity.’
If you thought that Europe was going to break up over weakness (and even outright panic) in certain markets across Europe, think again. Eurocrats are determined to increase their power so that European nations will be under their control, and the crisis provides a very good opportunity to do so according to one of the insiders quoted by the Economist.
“The work of the people of God is to prepare for the events of the future, which will soon come upon them with blinding force. In the world gigantic monopolies will be formed. Men will bind themselves together in unions that will wrap them in the folds of the enemy. A few men will combine to grasp all the means to be obtained in certain lines of business.” Selected Messages, Vol 2, p. 142
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