For What It's Worth: The Yellow Vests and the Left

Euro, Trash

A crucial point about the EU and the key role of the Euro is perfectly summarized by Greg Palast (echoing Hudson): "currency union is class war by other means."

Palast explains: "The euro is doing exactly what its progenitor-- and the wealthy 1%-ers who adopted it -- predicted and planned for it to do."

Palast's "progenitor" is University of Chicago economist Robert Mundell, who "produced the blueprint for European monetary union and a common European currency." Mundell hated the fact that, in his words: "It's very hard to fire workers in Europe," so he designed a tool that would make it easier. As Palast says, the Euro was designed specifically to "remov[e] a government's control over currency.. [and be] a weapon that would blow away government rules and labor regulations." And Mundell, its architect, said it himself: "It [the Euro] puts monetary policy out of the reach of politicians, [And] without fiscal policy, the only way nations can keep jobs is by the competitive reduction of rules on business."

Diana Johnstone explains that this is exactly how the Euro has ravaged France:

it has become more and more obvious that EU monetarist policy based on the common currency, the euro, creates neither growth nor jobs as promised but destroys both. Unable to control its own currency, obliged to borrow from private banks, and to pay them interest, France is more and more in debt, its industry is disappearing and its farmers are committing suicide, on the average of one every other day.

This is the result of the EU and the Euro, and the "eco-tax" that provoked the protest has everything to do with it: Johnstone again:

Indeed, it is perfectly hypocritical to call the French gas tax an "ecotax" since the returns from a genuine ecotax would be invested to develop clean energies --such as tidal power plants. Rather, the benefits are earmarked to balance the budget, that is, to serve the government debt.

This "ecotax" is a fraud in every way. Macron's "ecotax" is nothing but a means of restricting spending and balancing books--zeroing out numbers--at the insistence of the banksters running the EU. As Johnstone points out, it does not "pay for" anything.

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