Western Europe’s overall economy hangs in a precarious position – especially in those countries composing the European Union.

We’ve been hearing lots of news about Ireland the past few days.  Back on May 4, 2010, I penned an article outlining what we are now seeing unfold before us.  This article – A Greek Tragedy - can be found on my blog at NewFamilyEconomics.com.

Of interest, the article stated the following:

“Most of the bailout money is coming from other European Union countries (governments), but the “meat” of the new “austerity measures” are coming from the bankers in the form of the IMF.  The bankers have set Greece up to fail, and to be the catalyst that will be the eventual undoing of Portugal, Spain, Ireland, and most likely Italy.”

Folks, we are now seeing the fruition of what happens after the international banks supply the industrialized nations with enough crystal meth in the form of debt-based money to where there is very little hope of these countries getting clean again.

People like to pretend that the bankers have a goal of controlling the world’s gold and silver supply.  Actually, they are after something that makes them much more powerful – and much wealthier.  That “something” is claims on our future labor, not only ours, but a multitude of generations to follow.

Put yourself into the shoes of the sinful international bankers for a moment.  Would you rather have a chunk of metal or a world full of slaves that are forced to do your bidding?  Any sinner concerned with amassing enormous wealth and power will pick the slaves every time.

Ireland is stuck.  What once was the great country of a number of my ancestors is now facing economic extinction.  Why is this?

Ireland foolishly bought into the Marxist “utopia” of a “common union” – which we know as the European Union.  This union has its own currency known as the Euro, which is directly controlled by the European Central Bank (ECB) – which, in turn, is controlled by the international banks.

Ireland bought into the lie that they would still have governmental control over their economy.  Instead, they found their entire economic import and export balances thrown into disarray.  Their products were being priced in a currency that fluctuated based on economic strengths and weaknesses of other European Union countries as well as their own.

The Irish government kept their citizens satisfied for the most part by issuing government debt based in Euros.  This increased Ireland’s money supply, and resulted in an asset bubble that we have seen replayed all over the world.

Ireland now has a decision to make.  They can go one of two directions – both of which will economically destroy them, but only one that might allow them to come out the other side as a sovereign nation.

Most other European Union countries, along with the International Monetary Fund (IMF), are trying to get Ireland to agree to an economic bailout.  Why would they care if Ireland goes belly up?  It’s because many of those countries have bought Irish debt, and they want to get their money back.  In order to do this they will promise the future labor of European Union people in the form of bailout funds.

What happens if Ireland accepts the bailout from the IMF?  They will enter a new stage where their sovereign governing authority will be undermined as the international bankers dictate how Ireland runs its country – just like they have done with Greece.  In addition, sever austerity measures will be implemented in the name of recovery – while it will actually cause the wealth of Ireland to be transferred to the bankers.

Ireland’s other option would be to remove itself from the European Union and go back to issuing its own currency.  To do so would be an open invitation to the next installment of the Weimar Republic of Germany.  Why is this?  It’s because Ireland’s debt would then be mostly denominated in a foreign currency (the Euro) which is not their own.  This is the ONLY way that hyperinflation can take hold in a debt-based economy – which is why we will not see it in the United States.

The international bankers would see to it that Ireland’s economy hyper-inflated to the point of destruction.

This case study should be a sobering thought to everybody.  The international banks have set up a world-wide system of debt-based currency that nation’s cannot escape from without fear of major reprisal.  These bankers can literally dictate whether a country survives, or dies – all by controlling the claims on the future labor of a nation’s people.

The only thing holding the European Union together right now is a bunch of very scared countries who are realizing that to “go it alone” will lead directly to economic destruction.  To stay united will continue to give more power and wealth to the international banks, while suffering a major deflationary depression.

All nations, including the United States, are trapped.

Your comments and questions are welcome… or visit www.newfamilyeconomics.com

If you are not currently on the Economic Update email list you can email me at: brad@newfamilyeconomics.com to be added.

There is no charge and your email address will never be shared.