Government by the Banks, for the Banks: The ESM Coup D’Etat in Europe


Besides easing the conditions under which bailouts would be given, the concessions included an agreement that funds intended for indebted governments could be funneled directly to stressed banks....

The ESM is now a permanent bailout fund for private banks, a sort of permanent "welfare for the rich." There is no ceiling set on the obligations to be underwritten by the taxpayers, no room to negotiate, and no recourse in court. Its daunting provisions were summarized in a December 2011 youtube video originally posted in German, titled "The shocking truth of the pending EU collapse!":

The treaty establishes a new intergovernmental organization to which we are required to transfer unlimited assets within seven days if it so requests, an organization that can sue us but is immune from all forms of prosecution and whose managers enjoy the same immunity. There are no independent reviewers and no existing laws apply. Governments cannot take action against it. Europe's national budgets [are] in the hands of one single unelected intergovernmental organization.

Here are some of the ESM's key provisions:

[Article 10]: "The Board of Governors . . . may decide to change the authorised capital and amend Article 8 . . . accordingly."

[Article 32, paragraph 4]: "The property, funding and assets of the ESM shall . . . be immune from search, requisition, confiscation, expropriation, or any other form of seizure, taking or foreclosure by executive, judicial, administrative or legislative action." ...

The Italian Coup D'Etat
There is reason to suspect that "Super Mario" Monti may be representing interests other than those of his country. He rose to power in Italy last November in what critics called a "'coup d'etat' engineered by bankers and the European Union." He was not elected but stepped in after Prime Minister Silvio Berlusconi resigned under duress...Monti is not only an "international advisor" to Goldman Sachs, one of the most powerful financial firms in the world, but a leader in the Bilderberg Group and the Trilateral Commission.....

Implementing the Shock Doctrine
The European Stability Mechanism quickly followed. It was a permanent rescue facility intended to replace certain temporary facilities as soon as the member states had ratified it, slated to occur by July 1, 2012. The ESM came to an initial vote in January 2012, when it was passed in the dead of night with barely a mention in the press.....
                                                      ............................ By Ellen Brown