The world faces a cataclysmic financial and economic threat. And many Americans are amazed at the continued delay by European leaders in formulating a solution.
Meanwhile, international investors remain extremely nervous and markets exhibit high volatility. In addition, funds flee into the deeply flawed U.S. dollar. Increasingly, international recession becomes likely.
The key to the amazing delays in the eurozone is a crucial split between the aims of axis powers Germany and France. The effect of this split is pivotal in determining the likely outcome and effect of the current euro crisis.
As the world's second currency, a collapse of the euro would be catastrophic in today's fiat currency world. Mere rumors of a decision by eurozone leaders can send shock waves to international financial markets, increasing prices substantially.
Investors should be aware of the underlying political motivation behind eurozone players.
For over 100 years, Germany sought an empire. Following World War II, German and French leaders conceived the idea of a European superstate, the EU. Today, it seeks a captive home market as the modern equivalent together with a relatively cheap euro "blended" currency.
Overtaken twice by Germany in the same century, France looked for peace at any cost. Although peace with freedom is laudable, France was prepared to play second fiddle to Germany to secure peace within the EU.
However, the people of France and Germany were not keen to lose their sovereignty to the EU. Therefore, the European superstate had to be achieved by nondemocratic political stealth and disguise.
Today, Europe is governed by an unelected and unaccountable commission on which sit at least eight former Communists.
Essentially, German leaders are prepared to finance many eurozone problems -- but only in return for political control. To this end, Germany encourages each country to salvage its own banks. Meanwhile, Germany is aware that many eurozone countries are unable to rescue their own banks without endangering their national credit ratings and borrowing power. If they save their banks but fall into the same debt hole as the PIIGS, Germany's price for a future rescue will be control.
While initially it will be camouflaged as economic rescue, ultimately it will develop into full political control.
Furthermore, Germany demands austerity within the debtor PIIGS countries. Now, it threatens even to take nations before the European Court should they fail to institute the tough measures ordained by Germany. Of course, nations in recession that introduce austerity will fail economically. Again, the price of a German rescue will be control.
Germany looks well set on its ambition to seize political control over the eurozone and eventually the EU. However, France is fighting a rear-guard action to make citizens of the entire EU salvage the eurozone banks. This is causing delays.
Meanwhile, the citizens of Europe, most of whom have been denied any democratic say in the loss of their sovereignty, are becoming restless.
The world faces a potentially catastrophic debt contagion and currency collapse in Europe. Delay can only worsen the situation.
Meanwhile, the EU leaders are caught in a titanic power struggle among Germany and the remaining eurozone governments.
At the same time, there likely will be increasing tensions between EU leaders and their citizenry, who might demand at least some democratic authority, autonomy and even defaults on their national debts.
