EU Talks Italy – Amidst Biggest Banking Scandal In History!

Within the vein of ‘do as I say, not as I do”, or the adage, “rules are made to be broken”, the EU has threatened to punish Italy because they have submit a 2019 budget that increases debt by more than the allotment.   Of course the fact that only14 EU countries out of 30 meet the 60% GDP requirement at all doesn’t seem to phase the Commission when calling out Italy.   In fact, not even Germany has ever managed to keep within the guides and rules of debt to GDP.

So, the obvious reason Italy is being called out as the bad boy is because its new government isn’t a part of the Liberal EU Cabal.

In fact, it is so politically motivated that this is ‘the first time’ the EU Commission has demanded such a change in conjunction with a threat.  Italy has bucked the ranks.   Italy’s government has basically said – eff you.

In addition to Italy, Greece, Portugal, Belgium, France, Spain, Cyprus, Austria … all have debt to GDP ratios 30 points higher than the allowed 60%.   This is not a small deviance.  And yet, there are no sanctions.

The Global hand of the EU Commission is apparently plagued with arthritis.

EU Commissioner for economic and financial affairs, taxation and customs, Pierre Moscovici, has warned that the budget “lies outside our rules and regulations.”  That’s funny….!

Why would anyone abide by rules invented by the EU Commission when 53%, a majority, of EU members don’t abide?

In 1999, the EU Commission created a 3% threshold for budget deficits.   Italy’s deficit for 2019 according to its budget will be 2.4% – within the threshold.  But the EU believes that it will further escalate Italy’s total debt which stands at 132% all of which was generated by the previous Cabal aligned government that was not sanctioned…   Thus, although Italy is actually within the 3% threshold, the EU thinks they are being too positive and need to change..  but why then didn’t they sanction the previous government?

Of course, the EU’s demands and threats have hit brick walls before when dealing with Hungary and Poland on immigration quotas.

Has the Commission outlived its usefulness?  

I am reminded of parents who threaten their children to be quiet or else, only to try blackmail and candy when heir empty threats fall short.

The first EU Commission was created in 1951 and they called themselves, “The High Authority”.   They were tasked with administering coal and steel. It wasn’t until 1977 when Roy Clark, the UK’s Liberal, Democrat, Labour politician was appointed to the EU Commission that its role expanded significantly.   The Treaty of Lisbon which went into effect December 2009 increased the power of the EU President even more  substantially as well as creating fundamental rights, a legal personality, and a stronger EU Parliament.

The beginning of the end for an independent Europe.

Of course in good company with US MSM, it would seem that Brussels is actively attempting to create a detraction from news that is quite startling:   Germany’s Deutsche Bank, Spain’s Santander, Germany’s Commerzbank, Hypovereinsbank, Landesbanken, and Warburg Bank, British lender Barclays, French bank BNP Paribas, and global banks JPMorgan, Meryll Lynch, Morgan Stanley, and UBS have all been duplicitous in tax fraud that has resulted in a loss of revenue amounting to 55.2 billion Euro and is being called the ‘biggest tax robbery of EU history’.  

The news comes on the heels of revelations that Denmark’s top lender, Danske Bank, perpetrated the biggest money-laundering scandal in European history funneling over 200 billion Euro. The combined scandal amounts to just shy of $300 billion, greater than Russia’s entire annual revenues.  Yet it doesn’t even make the news.

Why?

Because it doesn’t advance the cause of banks and the Cabal. Instead, Italy’s budget is the main topic of discussion.  So what did the EU Commission do after today’s deadline for Italy to comply with their demands for a new budget?  They gave them three more weeks to change their mind.  Mama MIA!

And while Merkel has tabled all Saudi trade until the Saudi citizen Khashoggi idiocy can be finalized, the banking scandal is on the agenda to be ‘discussed’ in December. 

Money Laundering: Europe’s Central Bank BIS

While Merkel is flaunting EU Values, Germany Values, chastising Poland, Hungary, Italy, etc…, Germany’s Deutsche Bank continues to be mired in penalties and fines for Money Laundering schemes and other banking irregularities…

After a $7.2 billion settlement in 2017, a $630 million settlement followed.  It almost appears as though the settlements are considered peanuts in comparison to the dividends it reaps, and therefore worth the slap on the wrist.

A recent audit by KPMG tasked Deutsche Bank with being ‘more prudent’ to restrict their continued money laundering and terrorist funding!

The bank responded by firing more employees.

So the EU drafted their 5thMoney Laundering Directive in response.  Only thing, it won’t become effective until January 10, 2020. In other words, get all your laundering done NOW because in 2 more years, it will be harder?  Really?

But it certainly isn’t just Deutsche Bank, the UK is considered a large hub for money laundering. Transparency International identified 760 companies registered in the UK from 13 different countries that it called out as access points for money laundering.

The value globally is estimated to be between $1.5 trillion and $2.85 trillion annually.

It comes from corrupt officials in every country across the globe – and the banks turn a blind eye because the money generates money, so Deutsche Bank has simply been jumping on the band wagon to try and boost it’s continuous failure to produce a profit.

Switzerland has always been a hub.  BIS – the Bank For International Settlements is at the core.  It is the international version of the Federal Reserve, having opened its doors in 1930 to act as a middle man for doling out post WWI reparations as a result of Germany’s actions.  But this cause never came to fruition, tabled as obsolete, and instead BIS became the cabal headquarters in 1932 among its member states;  Germany, Switzerland, US, UK, Japan, Belgium and France.   Board of Directors have included prominent Nazi’s Walthur Funk and Emil Puhl.

Although the dissolution of BIS was ordered as a result of its Nazi collaboration, in April 1945, Harry S. Truman and the UK’s PM Sir Winston Churchill, reversed the approved dissolution.  It was Truman’s first day in office after the death of FDR.

Despite its decidedly European presence, the US and Japan were prominent within its cabal of the Group of Ten.  At the same time, BIS created the International Monetary Fund.

Over the next decades, BIS expanded it’s reach operating in Hong Kong, China, Mexico, South America, Israel, Turkey, Thailand, Canada, Indonesia, Australia, India, ultimately encompassing 60 member central banks across the globe. Globalization at its finest.

Between 2012 and 2016, money laundering by banks and financial institutions in Israel rose 75%.  11% of the laundering was considered related to terrorist funding.

In 2014, a scathing report unveiled:  “A Canadian Centre for Policy Alternatives report titled “The Big Banks’ Big Secret” revealed Canadian Prime Minister Stephen Harper and Canadian Central Bank Governor / Vatican FSB Chairman Mark Carney secretly used Canadian banks to money launder $trillions to the Vatican Bank (Central bank for the Crown – Pope Benedict XVI”.

In 2015, Canada’s RBC began exiting from its Latin America and Caribbean businesses as it tried to put arms length between it and massive money laundering schemes being systematically exposed.

And just days ago, Dansk Bank CEO, Thomas Borgen, resigned after a $300 billion money laundering inquiry showed dirty money flowing through its Estonian branch.

And while the concern is pointed toward the criminals, the mafiosa’s, Russia has become a target of the media cause when it is believed Russia accounts for about $15 billion of the annual flow – or roughly 5% of the global total.

Ukraine is central – thanks to the coup.  The Baltic states which Merkel rallied extensively for EU inclusion, Estonia, Lithuania and Latvia, also rank high since their embrace by the EU into International Banking and EU membership status.

But the largest venue for the existence of money laundering continues to be the big banks that all seem to operate under the authority of BIS.  As long as the banks comply – it will continue.   As long as no one goes to jail – it will continue.