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Sunday, September 15, 2013

The European Union's Single Supervisory Mechanism is JUNK !!!

                   The European Union and the European Central Bank are about to make a long-term serious mistake that may cause the financial ruin of the European Union. Lasy year, through my advice, the European Union and it's finance ministers devised an outline of the European Monetary Reserve. The high point was that the agency would be a government entity that was jointly controlled by both the European Legislature and the European Central Bank.
                    In another power grab, the European Central Bank, which helped cause the current fiscal meltdown due to its lax policy on GDP to debt deficits for Eurozone countries for more than the past ten years, has by means of banking influence, created a duplicate of the United States Federal Reserve. The ECB plan, which must not be permitted to go into law was written with the banks of Europe in mind.
                   While there is no doubt that every European Union bank must have a regulator, this Single Supervisory Mechanism must NOT be permitted to stand! There are no checks and balances of the ECB's authority. The ECB Board can not be removed by the European Legislature under this law.
                    The reason I desired a joint authority over the European Monetary Reserve is to provide security against a powerful monetary reserve, which left on its own could cause yet another financial meltdown. With the European Legislature and the ECB acting as joint regulators, this oversight and balance would be achieved. Without it, you have a second United States Federal Reserve.
                     By creating the Single Supervisory Mechanism, you have permitted the fox to guard the hen house. After all, it was the greed of the bankers and the lax oversight by the European Central Bank that helped cause the current European Union Financial Crisis. My advice to the European Union Commission Representatives and the governments of the European Union is to tell Brussells- NO WAY!
                      

SEND THIS BILL BACK TO THE EU LEGISLATURE 
AND DEMAND JOINT AUTHORITY OVER EU FISCAL POLICY

IT IS EITHER JOINT REGULATORY CONTROL OF THE EU ECONOMY BY THE EU LEGISLATURE AND THE EU MONETARY RESERVE, NOT THE ECB!, or nothing at all!


Forewarned is forearmed. You have seen the mess that our Federal Reserve Banks have caused here in the United States, if you want the same financial mess over there in the European Union, go ahead. But,let me say this, I have never steered you wrong yet since July of 2011 when I came on board of my own choice to help the EU survive. All I have ever received is a few emails of thanks. No Nobel Prize, no money, no parades, no holiday named after me, no statues, nothing. If you want to take Mr. Draghi's word over mine, go ahead, leave the German ECB in charge of your banks. Leave the German Deutschebanke in charge of the ECB. It is your loss and your lives that will suffer, not mine. I will be drinking iced tea and reading about how Germany took over Europe once more. It might even bring a tear to my eyes.

It is time to stand up to Angela Merkel, the Deutschebanke, and the ECB and move the ECB out of Germany and remove Mr. Draghi and Ms. Merkel who have become too power hungry by implementing my advice on saving the European Union and claiming it as their own.


Sincerely,
Mark R. Winkle
Winkle Institute of Worldwide Economic Stability

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