What about Europe Economic Union in 2010?


Apart of the flagrant desiquilibrium existing in the Europe Union, between the top contributing countries and the remaining countries, apart of the constantely growing european bureaucraty contrasting with stagnant democraty, I think urgent to try to understand why Euro currency is so high against the USD despite low interest rate and deep recession.

One expert assets investor told me in 2006 he did’nt understand exchange markets, all the indicators were pointed to a situation which never happened. Now, after reading Financial systems and terrorism expert Loretta Napoleoni, I wonder myself if we maybe underestimate the the phenomenon of economic interdependence after September 11th, 2001.

As Loretta Napoleoni told us:
1- “…the Patriot Act, which was a piece of legislation aimed at blocking the funding to terrorist organisations, eventually created a terrible and detrimental situation in other Countries, in this case Europe as a whole, turning Europe into the money laundering capital of the world, all of this between September 11 and now…”

2- “…Many of the problems that you have heard about regarding the banks are precisely linked to deregulation, to the lack of legislation and to the fact that the banks were granted high levels of freedom with very little control by the State.
What happens with deregulation? In essence, it amounts to the removal of financial barriers and the removal of financial legislation and the controls between two countries. But who has benefited from this?…From the mid-sixties through to 2001, a certain amount of new money, namely the bills printed annually by the Federal Reserve, was illegally taken out of circulation in America in suitcases or cardboard boxes that left the country in the form of boxes required for removals, etc, illegally in other words, and this money went towards satisfying the demand for cash, not only from criminal elements, but also from terrorist organisations and various other sectors of the underground economy…”

3- “…the Patriot Act was only introduced in the United States and is only applicable to the Dollar, so it has totally revolutionised the cash flows of the legal economy and the underground economy alike…no one wanted any Patriot Act introduced in another country that would enable outsiders to scrutinise any dealings between a bank and its customers…the international banks advised their customers to abandon the Dollar Zone and switch to the Euro. The Euro was the new European currency that had just recently come into circulation, so it offered numerous opportunities and, above all, Europe did not have any legislation similar to the Patriot Act and indeed there were tax havens in existence in Europe that worked very well, with no one checking up on anything…”

5- “… this money laundering is occurring via the real estate sector and it is thus very difficult to control because, for example, the Deeds Registry Office on the Costa del Sol has no way of communicating with the Deeds Registry Office in London, so they will never know whether the same company is busy making purchases in various locations in Europe, either simultaneously or at different times and, furthermore, there is no system in place to monitor the financial and cash transactions in Euro that may be taking place across European borders, there is no such thing!”

Europe has become the money laundering capital of the world. This is one more aspect we have to take in account as we think about Europe Union as the only mean to maintain peace and economic development in the old Western Continent.

Do you think Europe Union free market is good for Europeans?

ref: http://www.beppegrillo.it/en/2009/04/european_parliament_loretta_na_1.html

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