Lifeboats Launched Again. You Row.

Sometimes John Redwood says it best –

An astonishing 23% of the Spanish workforce is unemployed, including 45% of young people. 18% of the Greeks of working age, 14% of the Irish and 13% of the Portuguese rely on out of work benefits for their living. Even in France almost 10% of the workforce is without a job.

The Euro area chiefs do not seem to worry unduly about this waste. They seem unconcerned that their currency scheme is one of the main reasons why unemployment is so high in these countries. The Euro has delivered a series of uncompetitive economies in the south. It delivered a credit and property bubble in Ireland and Spain which is proving painful now it has burst. It has created a very weak banking system throughout the Euro area. The currency requires countries in trouble to follow mutually assured deflation as their prime policy.

Yesterday was another bad day for the Euro in other ways. Uni Credit bank shares fell another 14% on the back of their deeply discounted issue of new shares to buttress their capital position. In sympathy Euro area bank shares generally fell by around 5% on average in just one day, after a prolonged period of weakness. Investors worried about the volume of new bank shares the other banks will need to issue, and assume they will be able to buy those at well below current prices, as UniCredit shareholders have now discovered.

Hungary, a candidate to become a member of the Euro saw her bond rates forced up to almost 10% and is now seeking help from the IMF. Italian state 10 year borrowing rates went above the magic 7% again, whilst Spanish 10 year rates also rose to 5.63%.

The ECB’s giant injection of more cash has not injected the confidence in the system that all hoped. Mr Monti, the new technician PM of Italy, has had to travel to Brussels for more talks. Sarkozy and Merkel will be back together attempting another package to save the Euro, probably next week. The truth is the Euro system has unleashed a banking crisis on the back of a sovereign debt crisis. They failed to keep banks’ capital up to sensible levels in the better days, and are now behind the curve in the bad days. Meanwhile the overborrowed governments are struggling to raise the collosal sums they need to keep going.

If they were at all worried about the unacceptably high unemployment, they would be plannning and early and orderly exit from the currency of the weakest economies. They would also be sorting out the banks in need of state support, deciding which bits to back and keep and which to put into orderly administration. Spain announced this week another 50 billion Euro hole in its banks and related property market.

The Tap Blog is a collective of like-minded researchers and writers who’ve joined forces to distribute information and voice opinions avoided by the world’s media.

4 Responses to “Lifeboats Launched Again. You Row.”

  1. Anonymous says:

    Hi Tap, This is just what the Doctor ordered, massive unemployment.
    The 198 methods of none violent action, by Gene Sharp, Boston, USA.
    This is the blueprint the NWO are working to.
    All the Occupy movements are using this manual, to redirect the public to accept the big picture of the NWO.
    All the arrests are scripted before the event. All the main participants are actors.
    None of this is shown on our TV, because it’s coming here soon.

  2. Anonymous says:

    Xe Services (Blackwater) is now called Academi ( Does the latest rebranding suggest they are moving into private intelligence work against the American people?

    Academi is the private army of the globalist bankers. One of their aims is to raise a brigade size force of 5,000 for (so-called) “humanitarian” wars and “low-intensity conflicts”. I suspect this is intended to be employed against the American people, whilst pretending to be neutral.

    The name Academi is surely designed to sound harmless in media reports of its activities, as though it is a branch of a university and a friend of the middle class.

    I found this information after reading that Monsanto supposedly owns this private mercenary army (now called Academi). The article that says this cites The Nation. However, I did not find the same statement in that article when I looked just now. It says there is close cooperation between Monsanto and Academi (Xe Services).

    BTW this is a year old article so you may already have it, and some details have changed.

    “One of the most incendiary details in the documents is that Blackwater, through Total Intelligence, sought to become the “intel arm” of Monsanto, offering to provide operatives to infiltrate activist groups organizing against the multinational biotech firm.”

    All powerful security agencies are a disturbing trend. Who are they really accountable too?

    Five stand out. There’s the CIA, Drugs Enforcement Agency, Department of Homeland Security, Xe Services (Blackwater) and Transport Security Agency… Combined they are a powerful force against liberty – together employing probably over 300,000. CIA (20,000+) TSA (58,401) DEA (10,784). DHS (216,000).

    This is an army in the service of evil. A powerful force working to bring down America and enforce global tyranny.

    – Me.

  3. Scotty says:

    Fuck. They are all criminals. We need to, somehow, take away the power of private banking corporations to create money.

    Three US presidents have been shot over this issue.

    The corporation is the beast of Revelation – the beast that will give the anti-Christ power.
    It is a machine; systematic and a-moral.

    We humans are all assets, just like land, buildings, etc and are therefore expendible.

  4. Anonymous says:

    Yeah its great the way we are are all talking about what should be done but why is nothing taking place other than, them lot. rich upper class arseholes, bullying us again and again and we stand there and take it, they are taking our homes, our childrens futrures, so whats the point standing arouind doing nothing, we are all dead anyway they are slowing killing us and our families would rather go out with a bang and leave a mark on the world that at least i tried to do something than wait until they finish me off. there is so much corruption now, right at the top and money is controlling them all take alook at the web, the rothchilds have controlled everything from the beginning, but they have overlooked one thing themselves Jesus is coming back and he will not be crucified a second time

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