The background to the euro crisis
By Peter Schwarz, WSW
The survival of the European Union is now in question.
Europe is now at the forefront of what the elites
have been up to during the past several years - TRANSFERRING
THE WEALTH OF HERETOFORE SACROSANCT FIRST
WORLD POPULATIONS FROM THE POCKETS OF AVERAGE
WORKERS IN THOSE COUNTRIES TO THE COFFERS OF THE SUPER-ELITES.
THE IMPORTANCE OF WHAT'S HAPPENING
CANNOT BE OVER-EMPHASIZED.
Until recently, these populations had been largely
"out of bounds" as targets of the elite's greed and avarice;
but not any more!
populations are now falling prey to the same malevolent
process to which the rest of the world has been subjected
for the past several years: the one described by the mysterious
lyric of Revelation 6:6:
"A measure of wheat for a penny [literally
- denarius, a Greek coin which represented a
WHOLE DAY'S wages], and three measures of barley for
a penny; and see thou hurt not the oil and the wine."
The meaning of this is that the condition of man
during in the "Last Days" will be reduced
to such that he will have to labor (if he can find
work at all) a whole day simply to buy a loaf of
bread or three measures of barley. But the second
part of the saying ["... and see thou hurt
not the oil and the wine ..."] means that the
famine in these days will not extend to what might
be called a "global elite of worthies"
who have evidently allied themselves to the anti-Christ's
policy of conquest - only the rich in the ancient
world could afford oil and wine.
As this remorseless process thrusts itself ever forward,
grinding those who fall under its relentless track into
pieces, it is forever altering the political, social,
economic landscape of the world - though those who escape
being crushed by it, whether by luck or because they have
become the servants of this process, act as if it doesn't
exist. BUT I TELL YOU THE TRUTH:
IT'S BETTER FOR YOUR SOUL TO FALL PREY TO THIS MALIGNANT
PROCESS THAN YOU SHOULD MAKE PEACE WITH IT AND BECOME
ITS SERVANTS. It's not without reason that Jesus
"For what shall it profit a man, if he shall
gain the whole world, and lose his own soul?" (Mark
For the last three years the world economy has undergone its
deepest crisis since the 1930s [a crisis that led the people
of Germany to vote the Nazis into power in 1933 to "make things
Europe has been especially hard hit. The
survival of the ... European Union is now in question.
To understand the significance and consequences of this crisis
it is not sufficient to study its immediate economic forms.
It is necessary to examine the social relations that lie behind
is here that so many Christians are led astray, preferring
to ascribe the cause of this crisis and similar ones to
the Illuminati Myth and other wacko myths - myths that
lead Christians away from the real cause of such calamities
- GREED (i.e.,
the love of money) which is resident in all of our hearts.
It's precisely here that in judging what secularists such
as Peter Schwarz have to say that we can begin to understand
what Jesus meant when He said, "... the children of this
world are in their generation wiser than the children
of light." (Luke 16:8) [We URGE
you to see our article, "The
Origins of the Illuminati Myth."]
myths such as the Illuminati Myth are concerned, Paul
prayed that "... henceforth we be no more children,
tossed to and fro, and carried about with every wind
of doctrine, by the sleight of men, and cunning craftiness,
whereby they lie in wait to deceive ..." (Ephesians
4:14) which is exactly what the Illuminati Myth is -
a "sleight of men" designed in cunning craftiness.
the Illuminati that is the root cause of the evil
in the world today (an entity the Bible NEVER
mentions - a myth that invariably leads to anti-Semitism),
but GREED - which is resident
in all of our hearts.
It's not without reason that the Bible says,
"For the love of money is the root
of ALL evil." (1
Timothy 6:10) [Please see our article, "The
Elite, Money and the 'End of Days';" also, "Capitalism
In general, the crisis is presented as the result of over-indebtedness
on the part of several European countries [caused by profligate
spending by the "little people" of the country as well as expansive
spending on social programs]. It is asserted that their
debts have reached a level where they can no longer be repaid
This assertion, however, does not stand up to a closer examination.
The fact is, the total indebtedness of the European Union (around
80 percent of GDP) is significantly below that of the US (100
percent) or Japan (220 percent). US debt has increased dramatically
during the past five years from less than 60 percent to more
than 100 percent. Nevertheless, the US is still able to finance
its debt without major problems.
(gross domestic product - the total of goods and services
produced by a given economy); when one asserts that a
particular country is spending at, for example, 120 percent
of GDP, it means that the country is spending 20 percent
more than it is actually producing in goods and services.
Apart from Greece (158 percent), even the European countries
affected most by the crisis are not excessively indebted: In
Spain, the national debt level is 68 percent, in Portugal 102
percent, in Ireland 112 percent, and in Italy 120 percent, about
the same level as when it joined the euro zone. German (82 percent),
French (85 percent) and British (80 percent) government debt
are around the average level of the OECD countries.
Organisation for Economic Co-operation and Development
(OECD, French: Organisation de coopération et
de développement économiques, OCDE)
is an international economic organization of 34 leading
economic countries founded under the leadership of the
United States that are committed to the so-called market
economy - i.e., the economic policies promoted by the
American New World Order System.
There must be other causes to account for the fact that
Europe has become the target of the international financial
markets. To probe deeper it is necessary to consider the
social changes that have taken place over the last three decades.
Following the Second World War, the elites in Western Europe
were forced to make social concessions in order to prevent the
continent from embracing communism ... [Please see our articles
on the situation of the European countries vis a vis
the United States: "Europe
Is Going from Bad to Worse," "America
vs. Europe" and "Reducing
Europe to the Status of Greece in the Days of Rome."]
Even in the early 1970s, when an international strike movement
developed on the heels of the civil rights movement in the US,
the international student revolts and the anti-Vietnam war movement,
the workers won considerable wage increases and other social
In 1980, however, the elites went on a counteroffensive
that continues to this day. This counteroffensive was closely
connected with the figures of Margaret Thatcher and Ronald Reagan,
but was not confined to Great Britain and the United States.
US President Reagan broke the PATCO air traffic controllers
union at that time, while the British Prime Minister Margaret
Thatcher took on the British miners. Both combined their attack
on workers with a deregulation of financial markets and a strengthening
of the most parasitic elements of finance capital at the expense
of their countries' industrial base.
President Reagan broke the PATCO air traffic controllers union; British Prime Minister Margaret Thatcher took on the British miners. The result was an increase in social inequality, which had significantly declined in the post-war period.
The result was an increase in social inequality, which had
significantly declined in the post-war period. This development
is confirmed by numerous statistical studies. From 1910 to 1970,
the share of national income possessed by the super-rich declined
continually across the globe. This trend reversed from 1970
onwards. This tendency was particularly pronounced in the UK
and the US, where the proportion of total income held by the
richest one percent fell from 20 percent in 1910 to 10 percent
in 1950. Today the share held by the super-rich has returned
to the level of 1910. During the past 30 years, the
income of the poorest 20 percent in the United States declined
by 4 percent, while the income of the richest one percent rose
by 270 percent. During the same period, the share
of the financial sector in the profits of the entire corporate
sector rose from 10 to 40 percent. This demonstrates that the
increase in social inequality was closely bound up with the
growth of the financial sector [e.g., banking, stock market
the fact that the income of the richest one percent in
the United States rose an astounding 270 percent does
not tell the whole story - especially as it pertains to
the unholy alliance that the evangelical community has
made with the ultra-rich in the country - an alliance
that has to some degree guaranteed a "living wage" for
most white evangelicals.
The alliance evangelicals have
made with the ultra-rich
The previous figures refer to income. In terms of wealth, the
social polarization is even more stark. Today 40 percent
of global assets are owned by the richest one percent of the
world's population, 51 percent by the wealthiest two percent
and 85 percent by the richest 10 percent. For
their part the poorest 50 percent of the world's population
possess less than one percent of global wealth.
Chart showing where the world's "richy-riches" live.
It should be noted that the millionaires (billionaires)
who live outside the United States essentially possess
their wealth as sycophants to the American New World
Order System." [Please see our article, "The
Third World as a Model for the New World Order."]
The same process of social polarization took place on the European
continent, but with some delay. This delay is expressed in the
ratio of public spending to GDP, which averages 46 percent in
the euro zone, well above the OECD average of 41 percent. This
is why Europe, notwithstanding the social and wage cuts carried
out in recent decades, is still regarded as a haven of the welfare
state by the international financial aristocracy. The European
leader in this respect is France, with a government-spending
ratio of 53 percent of GDP. [Please see our article, "Thank
God for France."]
In the US, the equivalent figure is just 39 percent, and in
the banking paradise of Switzerland only 33 percent. The ratio
in Germany is 43 percent, only slightly above the OECD average.
Due to the Agenda 2010 program introduced by the government
of Gerhard Schröder it has fallen by five percent in the
last ten years.
graph above indicates the disparity between the amount
of national wealth spent by Europe on social programs
as opposed to the amount of national income spent on social
programs in the United States. For example, France spends
almost twice as much money as a percentage of national
wealth on social programs than does the United States.
The second graph tells why the US does not spend as much
money on social programs for its citizens: the money is
being spent on the defense budget which
isn't really for defense, but to keep the world trembling
under the guns of the American military.
The American elites allowed this disparity to occur
because it feared a communist takeover in Europe after
the Second World War. It was a "sop to the masses" in
Europe to keep them in line. But with the collapse of
the Soviet Union, the elites are moving pell mell to curtail
such spending in Europe with the
savings going into their pockets.
As Peter Schwarz indicates, for the elites the sums
spent by European states on pensions, education, health
and other social services and infrastructure are far too
high. They are determined to use the crisis to
reverse all of the social gains and democratic rights
won by the worker's movement in the course of the last
six decades. What's happening now in Greece is
indicative of what the elites want to do in the rest of
Europe. (See below.)
These figures illustrate why Europe is caught in the crossfire
of international financial markets. For
the representatives of finance capital, the sums spent by European
states on pensions, education, health and other social services
and infrastructure are far too high. They are
determined to use the crisis to reverse all of the social gains
and democratic rights won by the worker's movement in the course
of the last six decades.
Greece serves as a testing ground.
The representatives of high finance are threatening the country
with bankruptcy and imposing one austerity package after another.
Wages are being slashed, social services cut and public services
dismantled. It is calculated that
the standard of living of an average Greek will shrink within
a few years by 30, 40 or even 50 percent. Outside
of wartime this is an unprecedented decline.
This social counterrevolution cannot
be carried out by democratic means. The troika of
the European Union, International Monetary Fund and European
Central Bank have assumed control of the Greek budget and replaced
the country's democratically elected government with an illegitimate
government of technocrats ...
its name - i.e., the "International Monetary Fund" (IMF)
- the IMF is controlled "lock, stock and barrel" by the
US and is really nothing more than a Trojan Horse for
American banks and the U.S. Federal Reserve. It is through
this Trojan Horse that the American financial elites are
seizing ever more control of the European economy. [Please
see our article, "Inside
the American New World Order System."]
The IMF is a Trojan Horse for American banks and
the U.S. Federal Reserve.
European leaders have decided to transform
the whole of Europe into an austerity zone along the lines of
the Greek model. This is the significance of the
EU summit decision of December 8-9, 2011 to insert a debt brake
into the constitution of all member countries. Legally binding
criteria are being introduced compelling European governments
to implement rigid savings policies in spite of popular opposition.
This approach is reminiscent of the disastrous policy carried
out by the Brüning government in the final phase of the
Weimar Republic. The right-wing
Zentrum Party politician Heinrich Brüning took over as
German chancellor in 1930 in the middle of the global economic
crisis and unloaded the burden of the crisis onto the working
class. He based his rule on the authority of the
President on the one hand and the support of the Social Democrats
on the other. Brüning ruled by emergency decree and relied
on the SPD to cover his back in the German parliament—much
as the technocrat governments in Greece and Italy do today.
"champions of the German people."
Brüning's government was chronically unstable and lasted
just two years. Its austerity drive ruined Germany economically
and provoked fierce class struggles. The National Socialists
emerged as the victor from these struggles. In 1932, Brüning
was followed by the short-lived dictatorships of the Generals
Franz von Papen and Kurt von Schleicher, before Adolf Hitler
assumed power in January 1933.
Today ... the financial elite, which
has emerged from this redistribution of income and wealth, dominates
all spheres of economic and social life [in Europe] and is determined
to defend its privileges at all cost.
fascism has been the answer of the elites to the threat
of socialism; the mask behind which they pretend to be "champions
of the people;" the facade behind which they
hide their greed and avarice under the rubric of "patriotism"
and "love of country." That was the case
in the first decades of the twentieth century when Europe
suffered through a deadly inflation in the 1920s, followed
by an even more damaging depression in the 1930s, all of
which provoked many in Europe to look to socialism as an
answer to their economic woes - a
solution which provoked a fascist response from the elites.
fascism has been the answer of the elites to the
threat of socialism; the mask behind which they
pretend to be "champions of the people;" the facade
behind which they hide their greed and avarice under
the rubric of "patriotism" and "love of country."
Now a similar economic crisis is taking hold of the
continent of Europe, and once again great numbers of people
in the "Old World" are looking to socialism
to escape the economic HORROR that is beginning to encompass
them. And just how terrible that HORROR is was described
recently by David North:
"A growing number of economic analysts believe
that the present [economic] crisis [in Europe] may eclipse
that of the Great Depression. This crisis will be protracted—lasting
years, not months—and its long-term consequences
will be far-reaching ..."
The answer of the elites to this crisis is to enforce
draconian economic measures (raising taxes, cutting social
benefits, etc.) on "the people" in order to
re-coup the money that they squandered gambling on the
world's exchanges during the last decade.
The power of the financial aristocracy
It is significant that, despite the
global economic crisis, the total assets of all European millionaires
has grown faster in recent years than the combined debt of all
the European governments.
The fortunes of these 3 million millionaires have doubled in
the last 13 years, while it has taken government debt 15 years
to record the same percentage increase.
The total assets of Europe's millionaires currently stand
at about $10 trillion. This would almost suffice to pay off
the entire debt of all European countries at a stroke.
Europe's financial elites. The total assets of Europe's millionaires currently stand at about $10 trillion. This would almost suffice to pay off the entire debt of all European countries at a stroke.
Some 830,000 millionaires in Germany alone have at their
disposal financial assets amounting to €2.2 trillion.
This is more than the combined debt of the country's federal,
state and local authorities.
Some 830,000 millionaires in Germany alone have at their disposal financial assets amounting to €2.2 trillion. Millionaires in Germany alone have at their disposal financial assets amounting to €2.2 trillion. This is more than the combined debt of the country's federal, state and local authorities.
One of Germany's leading business publications Handelsblatt
has estimated that wealthy Greek individuals have stashed away
€560 billion in foreign accounts, which is almost twice
the entire Greek national debt.
The explosive growth of these assets
is due to the intensified exploitation of the average workingman
in Europe and massive tax cuts for businesses and top
earners. If the tax cuts for big business and finance in
Germany over the past decade were reversed, the state's coffers
would be boosted by more than €100 billion.
These huge assets have been "leveraged," i.e., inflated by
speculation. Interesting statistics are also available in this
At the beginning of the twentieth century, the total assets
of Britain's three largest banks equaled 7 percent of British
gross domestic product (GDP). By the end of the century, their
assets had climbed to 75 percent, and in 2007 they reached 200
If capital is taken out of the economic cycle, it quickly
loses its value. It derives its virility by sucking vampire-like
the blood of average people throughout the world.
The total assets of the three largest British banks thus amount
to a sum more than double the size of the United Kingdom's gross
domestic product, while the total assets of the entire UK financial
sector are now five times Britain's GDP. In comparison to their
own equity capital, British banks now allocate ten times as
much in loans as they did a hundred years ago. At that time,
the sum of all loans was three times the banks' capital resources;
today it is greater by a factor of 30.
Here as well, Continental Europe follows the same trend, with
a short delay. The sum of financial sector assets in both Germany
and France is three times as large as their respective GDPs;
in Switzerland, the record holder, it is six times as large.
As we have seen, these huge sums of capital are concentrated
in the hands of a tiny portion of society. But the super-rich
cannot simply hoard their wealth in vaults. To continue
to be viable, it must continually chase after interest and profit.
If capital is taken out of the economic cycle, it quickly loses
its value. It derives its virility by sucking vampire-like
the blood of average people throughout the world.
This is the driving force of the current
austerity campaign, which, in view of the historic
experience of German Chancellor Brüning (1930-1931), appears
to verge on madness. Government spending
on education, job training, health, pensions, public services
and infrastructure is regarded by the financial oligarchy as
an illegitimate diversion from their accumulation of wealth,
and the same holds true for wage rates and workers' rights.
Despite the deep social crisis, the
financial elite is unwilling and unable to give up even a fraction
of its wealth and privileges. In this respect, it resembles
the French aristocracy before 1789. At that time, there was
only one way to finally get rid of the aristocracy—by
In this context, it is significant that all the mainstream
parties, whether conservative, social democratic, Green or "left,"
support the current austerity programs and offer no alternatives.
Social Democratic leaders like José Sócrates
(Portugal), George Papandreou (Greece) and José Luis
Zapatero (Spain) have sacrificed their personal political careers
and the electoral chances of their parties to enforce devastating
austerity programs in the face of resistance from their own
voters. Conservative leaders like Angela Merkel (Germany), Nicolas
Sarkozy (France) and David Cameron (UK) set the tone for the
social counterrevolution in Europe. The Greens passionately
promote fiscal discipline. And the trade unions stifle any opposition
to the austerity measures while cooperating closely with their
Greeks rioting against austerity imposed on them by the elites as a result of the financial crisis the elites themselves created - an austerity program that in the end may decrease Greek living standards by 50%
The fact that not a single one of
the established politicians proposes a serious alternative to
the current economic course in itself shows that there is no
solution to the crisis in the context of the existing social
For or against the euro
While the various wings of the national ruling elites agree
on the need for austerity measures, the deepening of the crisis
is provoking fierce national and political conflicts among them.
aggressive minority is calling for the abolition of
the euro and the European Union. This
minority is composed of right-wing nationalist elements
(like the National Front in France, the Northern League
in Italy, the UK Independence Party in Britain and ex-Federal
Association of German Industry boss Hans-Olaf Henkel
An aggressive minority is calling
for the abolition of the euro and the European Union.
This minority is composed of right-wing nationalist elements
(like the National Front in France, the Northern League in Italy,
the UK Independence Party in Britain and ex-Federal Association
of German Industry boss Hans-Olaf Henkel in Germany).
A typical representative of this viewpoint is Professor Costas
Lapavitsas of the School of Oriental and African Studies at
the University of London. Lapavitsas advocates Greece's return
to the drachma. He justifies his proposal by arguing that this
would once again make the country sovereign over its own monetary
policy, devalue the currency, increase exports and bring about
an economic recovery.
Professor Lapavitsas thus proposes to replace the impoverishment
of the Greek working class through the austerity dictates of
the troika with an inflationary policy that would slash real
wages, pensions and savings and lead to the same type of impoverishment
by a different route.
Lapavitsas' recommendation amounts to a proposal for the Balkanization
of a Europe that has become closely interwoven economically.
The consequences of such a development
would be just as catastrophic as the dissolution of Yugoslavia
in the 1990s. It would trigger violent armed conflicts over
borders and property as well as ethnic cleansing and civil wars.
A study by the Swiss banking giant UBS has warned about the
consequences of a possible withdrawal of Greece from the euro
zone, stating: "It is noteworthy that hardly any modern monetary
union has collapsed without the emergence of some form of authoritarian
or military regime, or the outbreak of civil war."
unelected troika (upper left) of techno-crats who are
ruling Italy (and Greece) today is being protected by
the guns of NATO (upper right) which itself is dominated
by the hydra-headed dragon of the American military
(right). This is emblematic of the direction being taken
by all the governments of Europe. Democracy is no longer
an option in Europe - at least insofar as the elites
are concerned. The elites increasingly must resort to
All this cannot but, in the end, lead to the imposition of
a right-wing, fascist dictatorship over the nations of Europe,
or at least the ten most important nations there - a dictatorship
that is supported by the guns of an eleventh nation: BABYLON
THE GREAT (i.e., the United States). [Please see Chapter
XII of the New Antipas Papers, "The
Beast of Revelation 17."]
God bless you all!
IN ADDITION, WE URGE YOU TO DOWNLOAD THE NEW ANTIPAS PAPERS,
PRINT THEM OUT YOURSELF, AND STUDY THEM CAREFULLY; SHARE THEM
WITH YOUR FRIENDS.
FINALLY, WE URGE YOU TO DOWNLOAD AND PRINT OUT THE FLYER
WE SENT TO YOU RECENTLY.
Then make copies and take these copies out to the campuses
where you live; pass them out; OR if that seems
too "daring" for you right now, post them on telephone
poles, the sides of buildings, on campus bulletin boards; post
them in union halls, in the neighborhoods of the poor and downtrodden,
near employment offices, wherever you can.
Once again, we URGE you to read (or
We need your help to spread the word concerning Antipas Ministries and the
eschatological viewpoint it represents; WE NEED YOUR
HELP BECAUSE WE DO NOT "LINK" WITH OTHER SO-CALLED "CHRISTIAN"
WEBSITES which are, for the most part, "in the tank"
insofar as their loyalty to the United States is concerned
- a loyalty that has made them partners in the BLOODY
trail the American military has left in its TERROR-RIDDEN
rampage throughout the world, as well as making them partners
in the abject poverty that American corporations have
imposed on the peoples and nations the American military
machine has ravaged - A BLOODY, TERROR-RIDDEN RAMPAGE
THAT HAS TO A LARGE DEGREE BEEN CARRIED OUT IN THE NAME
OF THE "PRINCE OF PEACE." [Please see our articles,
"The Third World
as a Model for the New World Order," Inside
the American New World Order System" and "The
American Empire: The Corporate / Pentagon / CIA / Missionary
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