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	<title>Comments on: Up with Bagus!</title>
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	<link>http://archive.mises.org/15350/up-with-bagus-2/</link>
	<description>Proceeding Ever More Boldly Against Evil</description>
	<lastBuildDate>Wed, 19 Jun 2013 08:26:49 +0000</lastBuildDate>
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		<title>By: Ohhh Henry</title>
		<link>http://archive.mises.org/15350/up-with-bagus-2/comment-page-1/#comment-752667</link>
		<dc:creator>Ohhh Henry</dc:creator>
		<pubDate>Tue, 18 Jan 2011 15:40:05 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=15350#comment-752667</guid>
		<description><![CDATA[Great article, and no doubt it&#039;s a great book. 
&lt;blockquote&gt; ... the euro is the resource that is being plundered by the European elite in its bid for centralized power and special privileges at the expense of the common European citizen ... &lt;/blockquote&gt;
The essential operating word is &quot;plunder&quot;.

Speaking of Euro plunder, here is an interesting tidbit that the goldbugs turned up:
&lt;blockquote&gt;&lt;a href=&quot;http://www.telegraph.co.uk/finance/economics/8262982/Irish-lenders-besiege-central-bank-for-emergency-loans.html&quot; rel=&quot;nofollow&quot;&gt;Ireland quietly printing Euros?&lt;/a&gt; The latest data shows that Anglo Irish Bank and other lenders had borrowed €51bn (£43bn) from the Irish central bank by the end of December, under an obscure progamme listed in the balance sheet as &quot;other assets&quot; ... The actions of the Irish central bank are authorised by Frankfurt, but fall into a grey area of monetary policy since they appear to involve creation of money outside the normal control of the ECB&#039;s governing council.&lt;/blockquote&gt;

Evidently this regulatory laxness is some kind of effort to prevent the Irish domino from falling and bringing down Spain, Portugal, Italy, etc. in succession.

How mad will the average German be in a couple of years when s/he realizes that the Eurozone is still standing, but their paycheck, pension and savings are worth a fraction of their previous value?  Instead of the Germans needing a rapid reaction force to beat down protests in the PIIGS, will the PIIGS need to send riot troops to Germany instead?]]></description>
		<content:encoded><![CDATA[<p>Great article, and no doubt it&#8217;s a great book. </p>
<blockquote><p> &#8230; the euro is the resource that is being plundered by the European elite in its bid for centralized power and special privileges at the expense of the common European citizen &#8230; </p></blockquote>
<p>The essential operating word is &#8220;plunder&#8221;.</p>
<p>Speaking of Euro plunder, here is an interesting tidbit that the goldbugs turned up:</p>
<blockquote><p><a href="http://www.telegraph.co.uk/finance/economics/8262982/Irish-lenders-besiege-central-bank-for-emergency-loans.html" rel="nofollow">Ireland quietly printing Euros?</a> The latest data shows that Anglo Irish Bank and other lenders had borrowed €51bn (£43bn) from the Irish central bank by the end of December, under an obscure progamme listed in the balance sheet as &#8220;other assets&#8221; &#8230; The actions of the Irish central bank are authorised by Frankfurt, but fall into a grey area of monetary policy since they appear to involve creation of money outside the normal control of the ECB&#8217;s governing council.</p></blockquote>
<p>Evidently this regulatory laxness is some kind of effort to prevent the Irish domino from falling and bringing down Spain, Portugal, Italy, etc. in succession.</p>
<p>How mad will the average German be in a couple of years when s/he realizes that the Eurozone is still standing, but their paycheck, pension and savings are worth a fraction of their previous value?  Instead of the Germans needing a rapid reaction force to beat down protests in the PIIGS, will the PIIGS need to send riot troops to Germany instead?</p>
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