“5 Day Bank Holiday” To Prepare For Collapse of Euro
Even members of the financial elite are losing patience with the single currency
Paul Joseph Watson
Thursday, May 24, 2012
While the global elite are still clinging to the hope that the euro single currency can survive a Greek exit that now looks inevitable, some members of the financial aristocracy have already given up on the entire eurozone altogether.
In an article for the Financial Times entitled, We must break up the failing euro, former Bilderberg attendee Sir Martin Jacomb concedes that all efforts to rescue the euro have been in vain, calling for “all 17 members to decide at once to revert to national currencies.”
Jacomb attended the 1985 Bilderberg Group meeting in New York but has not been invited back to the elitist confab since. No wonder given the fact that he is obviously an ardent skeptic of the single currency that Bilderberg hatched as far back as 1955.
Jacomb, former chairman of Canary Wharf Group, argues that a “five day bank holiday” should be imposed to allow financial markets to absorb the shock of the collapse of the euro.
“Experience shows that currency break-ups, like devaluations, have to be handled so as to avoid anticipatory speculative activity. The essential requirement is a single, unequivocal decision to revert to national currencies, reached confidentially by all 17 governments and announced without prior notice,” he writes.
As we reported last week, most of Jacomb’s contemporaries are still of the mind set that the single currency can ride the storm.
The dominant view was echoed by the Peter G. Peterson Institute for International Economics, which counts amongst its members prominent Bilderbergers such as Paul Volcker, Lawrence Summers, and David Rockefeller.
The institute’s thinking was summarized in a piece by Senior Fellow Arvind Subramanian, who argued that Greece should not be allowed to exit the single currency because if the nation were to then stage a dramatic economic recovery it would provide a path for other eurozone countries to follow, and in turn torpedo dreams of a European federalist superstate.
Bilderberg is so desperate to save the euro because it represents the entire foundation of their global financial agenda to create regional currencies and carefully-managed bureaucratic federations on the same model as the European Union.
Bilderberg-chairman Étienne Davignon bragged that Bilderberg helped create the euro by first introducing the policy agenda for a single currency in the early 1990′s, which was later formalized into the 1992 Maastricht Treaty.
However, the very first discussions about creating a single currency took place decades beforehand at the 1955 Bilderberg meeting in Garmisch-Partenkirchen, West Germany.
Leaked documents divulge how Bilderberg elitists discussed “The necessity to bring the German people into a common European market as quickly as possible,” adding that the future was in danger without a “United Europe”.
This agenda included “the need to achieve a common currency,” as well as the creation of a “central political authority.”