The Side Street Journal: Madame Lagarde

Friday, April 29, 2016

Rogoff & Merkel & China, Oh, My!

Something is up. Think back.

Sarkozy tweets, "Merkel is not the problem.

Prime Minister Biden returns from Berlin to announce The Chancellor is our friend.

& More Recently,

Madame Lagarde Praised Merkel

Merkel initiated a phone conference with President Vladimir Putin

And President Obama again praised Merkel & made a grand pitch for Britain to stay in the EU.

What is up? I may be onto something.

Most recently, Ken Rogoff, the economist and purported architect of austerity in the EuroUnion has taken a conciliatory turn

He appeared on CNBC to say kind things about the success of our economic stimulus success. Not so long ago, not so much.

the

I watched Dr. Rogoff on three networks: CNBC, BBC, & CNN. And each time he said basically the same things:

Even if we go back to 2010 jibber jabber blah blah blah.

Even if we were to wipe out Greece's entire debt...jibber jabber blah blah blah

(I apoligise for slinging around a lot of highfalutin economics jargon.)

However, when pressed by Mr. Zakaria on the success of the US stimulus programme, Dr. Rogoff made what I considered to be a sarcastic allusion to the economic travails of Puerto Rico then went back to Europe, "Even if we were to wipe out Greece's entire debt....."

I've said too often, If Britain can't leave the EuroUnion, and Merkel knows it, Britain can't bargain a fair deal. Witness Tsipras and Greece. My very plain understanding of the situation? The more dramatic and hysterical the doom and gloom forecast if Britain [Greece] leaves the EuroUnion, the less substance there is to the proposition that a British Exit will be a disaster. Hearken the the words imputed to the attorney F. Lee Bailey. "When I have the evidence, I pound the evidence; when I have the facts, I pound the facts; when I have nothing, I pound the table."

Will Cameron be Britain's next Wellington or Britain's next Tsipras?

This, in part, explains why I wrote Greek Proposal and Brit IN Brit OUT.

But more important, and not more importantly, recent comments by Carl Icahn on China reflect what I'd said repeatedly about Europe.

Austerity is a failure. What Europe needs is Capital Investment, economic development, & growth. In short, economic stimulus. Shorter? Fiscal policy. The same thing Mr Icahn said this morning 29 April on CNBC. This, in a discussion about China.

In 2013 (2. February) I wrote China will begin a global capital investment initiative. Today, Singapore is the top visitor to my blog two months running. Singapore is the purported Headquarters of the AIIB. The most read article? Emerging Nation Economic Union. In other words, Heads Up.

I believe the EuroUnion is about to unravel. Not due to Britain's or Greece’s possible exit; but because of the efforts to keep them in.

Now? The Conciliatory tone taken by Ken Rogoff on CNBC. And, of course, the alleged leak of a statement by the IMF to Merkel regarding holding Greece to the terms of austerity. This of course leads me to believe that Madame Lagarde holds the reigns of power. [sic] Perhaps it is the romantic in me. Ultimately, I started out in life as an English Lit Major. But realistically, Madame Lagarde is brilliant, successful, and powerful. And in a battle between hob-nailed boots and spike heeled shoes, Germany has never succeeded in the Hob-nailed boot approach. Why not? From the Quotations of Slim Fairview (c) 2016

The multitude can oppress the few, but the few cannot oppress the multitude. Not for very long, anyway.

The Chancellor, who made the cover of Time Magazine for inviting the refugees in will never make the back cover of Time Magazine for creating a crisis that resulted in the Migrants being thrown out.

China has a plan. The AIIB is part of the plan. Europe's embracing of the AIIB is not something I neglected to predict.

Chinese Investors est Arrivé &

The Next Challenge is Here

"But don't bother listening to me. Everyone always doesn't listen to me." The Quotations of Slim Fairview

Warmest regards,

Slim.

slimfairview@yahoo.com

slimviews@gmail.com

Wednesday, July 8, 2015

GREEK PROPOSAL

Dear Mr. Prime Minister,

Please find the following Proposal for submission to the EuroCrats. The Proposal is written in the form of a fait-accompli.

Very truly yours,

Slim.

THE FINAL PROPOSAL OF GREECE

Whereas all proposals submitted heretofore have been deemed unacceptable, and

Whereas the Debt Crisis arises from the Economic Crisis; and

Whereas the efforts to resolve the Debt Crisis cannot be resolved without first resolving the issue of the Economic Crisis, we are submitting this fait-accompli.

Greece will amortise the Greek debt over a period of 10 years or 15 years with a balloon payment. The exact terms to be declared upon the completion of the following:

A financial statement analysis

A cash flow forecast

The establishment of an economic growth model

through capital investment.

II.

Greece will meet with Madame Lagarde of the IMF and with Mario Draghi, of the ECB in Greece to construct a Memo of Understanding upon which the final agreement will be based. Chancellor Merkel will not be represented at this meeting.

III.

Madame Lagarde and M. Draghi will present the terms to the European leaders for their approval.

If the terms of this Memo of Understanding are rejected, I will

Cancel all debts owed by Greece by Executive Order;

Declare ourselves no longer to be members of the EuroUnion;

Join in the formation of an E 20 as outlined in the presentation attached by link;

Assist in the forming of a Union of Emerging Economic Unions and join same;

Negotiate a Capital Investment treaty with China; and

Negotiate a natural gas treaty with Russia.

IV.

CAVEAT TO THE CHANCELLOR

If you take vengeance against Greece and against the Greek People, The people of emerging nations will remember.

they will remember The Kaiser, they will remember The Fuhrer, and they will remember The Chancellor.

Whereas the haves are increasing arithmetically and the have-nots are increasing geometrically; and

Whereas the rising global challenge is not the difference in the number of dollars between the haves and the have-nots; and

Whereas the rising global challenge is the difference in the number of people between the haves and the have-nots; and

Whereas this is not a sustainable model;

We will, in addition to the aforementioned actions, invite other nations whose austerity constraints has financed The Chancellor’s economic machine, to join us in

forming an Emerging Nations Economic Union,

to join a Union of Emerging Nations Economic Union, and

to participate in the forming of an E 20.

VI.

In the repaying of Greek debts to the sovereign creditors, all payments will be made from the money derived from the positive results of Capital Investment, Economic Development, and Growth.

To justify above we will offer the following information in evidence.

Has Europe Embraced Merkel’s strict adherence to the theory of Austerity?

Yes.

Has the European Economy improved?

No.

Has the European Economy worsened?

Yes.

Conclusion:

Austerity is a failure.

Austerity should be abandoned.

To support the position that the European Economy has not improved, we offer in evidence the QE programme initiated by The ECB.

If the European Economy had improved, there would have been no need for the QE programme.

In addition, we offer in evidence: German Post-War Debt Forgiveness.

If you wish compurgation with academic substance:

Dr. Albert Einstein said, “You don’t get yourself out of trouble using the same thinking you used to get yourself into trouble.” ~ Albert Einstein.

In addition, it should be underscored, If Greece cancels its debts by executive order, then sovereign creditors who do not receive payment will have no option but to appeal to the ECB for Debt Relief.

The ECB can extinguish one small fire or extinguish six small fires.

VII.

Abandonment of Rules:

Case in point: The restrictions on monetary transfer to intra-national transactions only has had the net effect of placing viable businesses, engaged in trade and commerce, and in employing Greek people, in the position of unable to engage in trade and commerce.

The rules say, a functioning business that employs Greeks is not allowed to function.

This is not acceptable. Therefore, this being an example, rules that prohibit trade and commerce will be declared invalid by executive order if deemed to be necessary and proper.

Submitted

AMDG

______________________________________

Alexis Tsipras

Prime Minister of Greece.

____________________

Date.

Warmest regards and best of luck,

Slim.

Additional Reading

Solving the Emerging Crisis

Emerging Nations Economic Union