While our attention has been inexorably focused on Greece, France, and Germany in recent months, there is another significant signal that not all is going so well for the European technocrats and banksters in Brussels and London, and it is, as it turns out, really bad news...

....that news comes from Italy. Let's pause before we get into too many details. Italy is not Greece, nor even Spain or Portugal. Italy's economy is far larger; its technological capability rivals the other big three in Europe: Great Britain, France, and Germany, and it is a key geopolitical and military factor in the security arrangements of NATO in the central Mediterranean.

We now have this bit of intriguing news, once again brought to our attention by the good folks at the Daily Bell:

Italian Voters Reject Austerity, Too

I hope you caught the significant admissions here, because they are, even for the Daily Bell, rather astounding:

"The results across the board, according to Reuters, involved a rejection of the "technocrat" Monti's austerity plans. Just as in France and Greece, recently, the voters have spoken.

"So where does that leave Europe?

"Something will have to give, yes? The big banks are underwater and the big PIGS governments are no better off. The ECB is NOT printing enough money to "fix" Europe – and the Germans wouldn't let that happen anyway ...

"The Germans have served notice on their leaders that they will not pay endlessly to salvage Europe, nor is it incumbent on them to do so."

Indeed, something has to give, and the Daily Bell at this juncture trots out the now familiar scenario that all this is being orchestrated by the banks to bring about general European-wide misery in an effort to further centralize and consolidate power:

"So ... as aficionados of directed history we return to the idea that what is being prepared for Europe is a special Hell in which nothing shall be resolved and everything shall grow steadily more miserable.

"That's one way to "cook a frog" – and to strengthen the EU and euro ultimately. When people have had their lives thoroughly shattered, they shall give up power to further centralizing facilities and cease to struggle."

But something has gone wrong:

"But in the age of what we call the Internet Reformation, we find that highly speculative as well. People don't seem in a surrendering mood to us – they seem increasingly angry and aware of their manipulation."

I concur, at least as far as the Daily Bell's analysis goes, for rather than being increasingly compliant, populations are increasingly restive, and, like it or not, they are aware in a way and in numbers never encountered before that it is the financial elites themselves that are to be held responsible. Only two decades ago, such views would have been confined to the "conspiracy theory fringe;" now, they are commonplace, and that is, indeed, a sweeping cultural expansion.

But as I've made clear in previous written and vidblogs on this site, and even in private more detailed discussions in the members' area videos, there is another factor at work, in my opinion. That factor is what I believe the bearer bonds scandals represent, namely, a vast hidden tier or system of finance, a system that began to be erected in the interwar period by western banks in conjunction with the Kuomintang government of Nationalist China. I hope to be writing extensively about this subject in a future book, but for our purposes here, there are three things or sets of dots, as it were, that I think need to be connected:

  1. The emergence of the bearer bonds scandals beginning with the Japanese Bearer Bond scandal of 2009;
  2. The increasing calls of various nations - Switzerland, India, Venezuela, and Germany - to repatriate their gold reserves currently held overseas in various central banks (the BIS, the Bank of England, and the Federal Reserve);
  3. The creation of a hidden tier of finance using plundered Nazi and Japanese bullion to fund various covert political and research operations.

In short folks, we may also be looking at some sort of conflict between the public institutions and this hidden system, representing very possibly a breakaway civilization.

As for Europe, Italy's move signals that the discontent is not going to go away, but grow.

See you on the flip side.

Posted in

Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and "strange stuff". His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into "alternative history and science".


  1. Enlil's a Dog on May 28, 2012 at 6:10 am

    “If Greece unilaterally rejects the bailout deal it will be isolated for years … It will have no food, no drugs, no fuel. It will have to live with permanent power cuts,” Samaras told party faithful in a rally”.

    “IMF chief Christine Lagarde said Greeks had to take responsibility for their fate, adding that deprived children in Africa needed more help than people in Greece” – – –

    Then help them – BOTH OF THEM you f*****n BITCH!!!

    THESE BANKERS SHOULD BE…………….HUNG……………DRAWN…………&…………..QUARTERED!!!!!!!!!!!!!!!!!!!!!!!

    I apologize for the colourful metaphors but these people will be the cause of a revolution!!

  2. carlo on May 24, 2012 at 12:32 am

    we are in a bad moment. I’m writing from Italy. our governors are not elected by the people but came from banks and jewish powers. the same powers presents and responsible for all the wars (WWI and WWII), the object of theese powers is anothwer war, not economic war, economic war have his maximum in few months.

  3. marcos anthony toledo on May 23, 2012 at 3:39 pm

    The writing on the wall so to speak you have been judged a found wanting die bastards.

  4. Robert Barricklow on May 23, 2012 at 11:38 am

    I just recently picked up FEAR by Gabriel Chevallier. It is supposed to be the anti-war novel. It is written by a coomon soldier who lived through the infamous trench warfare of WW1. It’d damn good.
    Right at the bginning of the book, taking up the whole page is a one sentence quote:
    ‘I am not a sheep, which means I am nothing.’
    The following this page is Chapter one with this begginning quote:
    “The danger in these strong communities, founded on simular, steadfast individual members, is an increasing, inherited stupidity, which follows all stability like its shadow.”
    -Nietzche, Human, All Too Human I, 224 (trans. Helen Zimmerern)

    • Robert Barricklow on May 23, 2012 at 11:40 am

      I’am the Norm Crosby of typing.

      • HAL838 on May 23, 2012 at 6:02 pm

        It’s Norm Cosby and I used to have a lot of fun with the language, too.

        The book sounds like a thought provoker.
        I’ll look it up

        • Robert Barricklow on May 24, 2012 at 10:26 am

          Should you get a copy, you’ll be …reading/smiling like the Cheshire Cat.
          But, “Then that depends a good deal on where you want to get.”

          • HAL838 on May 24, 2012 at 11:26 am

            I looked it up
            Sounds like good, thoughtful reading, but doubtful with a smile

          • HAL838 on May 24, 2012 at 11:29 am

            On the other hand,
            it sounds like the way I’ve gotten through
            the horrors of what some call life.

            I’ve developed a rather strange laugh.

          • Robert Barricklow on May 24, 2012 at 11:54 am

            Now your smiling.
            Like the song,
            Smile, though your your heart is breaking…
            Also the Cheshire cat is a quantum being: there/but not there; an in being & out of being
            …from nothingness.

          • HAL838 on May 25, 2012 at 4:42 am

            Oh, THAT cat !

            I think we are related

        • HAL838 on May 30, 2012 at 3:07 pm

          Hey, you may be right.
          I go all the way back to the tail end of Bing,
          so I get confoosed with the small stuff.

  5. Robert Barricklow on May 23, 2012 at 11:27 am

    Guns and Butter recently taped The First Italian Economic Summit on Modern Money Theory in Rimini Talay with Marshall Aueuback, Michael Hudson, William K. Black, & Stephanie Kelton. They covered a wide spectrum of the conomic issues involved & solutions to the current ENGINEERED Crisis in Europe.
    These were shows for March 7th, 14th, 21st, & the 28th
    and April 4, 18, & 25

  6. robert on May 23, 2012 at 11:11 am

    Spanish ANGER.

    For those who speak a little bit spanish, here es a link to an open letter, which a maybe not famous but well known spanish author wrote to the actual spanish president: Rajoy. The letter circulated today in the spanish internet. I couldn’t find it in any big newspaper. Some say it’s a hoax, but anyway. It speaks out loud what a lot of people are thinking here.

    Letter from Jose Luis Sampedro Rajoy.
    some information about the man: (spanish) (english subtitles)

    By Jose Luis Sampedro May 16, at 20:01

    Here is a Google Traduction, it’s not the same but you can have a little taste of the tempers here in spain.

    Dear Mr. President: you are a bastard. You and your ministers. I say well, first, because I know it’s never going to read me like you never read books, or anything else that sports newspapers as you have confirmed, boasting, as good Spanish to be ignorant. Do not be fooled, that’s why so many people have voted. Forgive others the outburst, but there is evidence that we are what our parents raised us, and if you and your ministers are as they are, is because their mothers very well not have. Although colleges of payment, to belong to the oligarchy of past dictatorships, etc..

    You see, Mr. President. What bothers me most is that you are not a bastard son of a bitch, but ignorant, and above all a liar. Was submitted to an election saying he would not do things we now do. Said long ago that the possibility of a tax amnesty seemed unjust and absurd, and has not taken even three months to resort to this measure as unjust and absurd, as the deputy Albert Garzon UI that you and your minions ningunean as any other than his follower. That is the democracy that you understand, ignore the representatives of the citizens who are not related. You said the Health and Education were not touched, and have played but well. A banking anything, and that the big economic experts say that, or we put him out to his friends in finance, or we sink.

    I’ll explain a few things since you are an ignoramus who reads sports media instead of books of history, economics or politics. During the 20’s there were people who had the brilliant idea to grow far beyond their means and now are so fashionable you say. So much so that even Churchill, out of the postwar situation, he decided to revalue the pound, bringing down wages and increase working hours. Not only is increased above expectations but destroyed the possibility of creating a sustainable model of growth based on consumption, allowing an outsource economy and make it truly competitive. That’s being a developed country and not winning World Cup. When the crisis came from 29 and the subsequent global recession in 30, in a country so little suspicious of socialist, communist or whatever you want, like the U.S., decided to take a thing called New Deal, which consisted, among other things, raise wages and lower working hours. As a result, there were more jobs to meet those peak hours, and that came from his work is invested in consumption, the economy recovered and allowed the country to give a final push up to a victorious World War fought on three continents.

    In case you do not know, the measures being implemented have achieved otherwise. I speak in the past because you might not know it, but there is nothing new in the famous “cuts”. Argentina, Chile, Poland, Russia and so on to a long list of countries thicken a horrible list of failures of the neoliberal policies of Milton Friedman and the Washington Consensus from 70 have been trying to make us believe that a country immersed in the economic shock is a solution to the crisis. He never measures the Chicago School have worked. Never a country has emerged from the crisis that way. Never has a society has benefited. On the contrary, has generated suicide, deterioration of the welfare state (which you insist that is over as we watch grow and develop in other surrounding countries) and has destroyed the future of many generations.

    You lie, Mr. President, and is extremely dangerous. Because the former was useless, but you are an arsonist in the middle of a fire. The other believed to live in Wonderland and you are plunging us into the Land of Horrors. Any fiscal policy is not based on wealth creation, any measure relating to the business that does not meet primarily to listed companies over 60% of their profits in the form of wages and taxes in Spain (and Repsol, which only invests 20% and now defend it as Spanish, foreign firms distribute more benefits to the whole country), all that light is not a future based on research rather precarious work is to destroy the country’s future. You and his henchmen were saying that fills the mouth should be encouraged entrepreneurship, and instead develop a plan based on speculative ideals of the leaders of the CEOE business whose history ruined by the speculation that they leave unscathed while the state takes care of the unemployed left is absolutely shameful. Eliminate all entrepreneurs plan the possibility of social entrepreneurship and generate only a new breed of shark covered in a neo-feudal labor reform.

    You forget that developed countries like USA, Germany, France, etc.., Spend between 2.6 and 3.4% of GDP on R & D & I. Spain not only needs a greater effort (around 6%) to catch up but you come down to us investment 1.3% to 0.9%. To understand, you only read about sports, is the difference between inventing a car, and make it. Who invented it has the benefits of each and every one of the cars sold. Who manufactures only the units that go out of their factory. Where cars are invented? In Germany, to cite one case. Where did you make? In Spain, Poland and Romania. It is obvious of who we are closer then. By giving the hack that you have given to research condemns us to be a nation of waiters, luggage racks, and of course little or no skilled workers to work for foreign companies pittance while we have the currency of the countries with better quality of life. If we continue in the euro is to live like them, for you live as we do in Botswana with prices in Paris.

    You are committing suicide us economically. You may not know who Paul Kruggman, but Nobel Prize in Economics. For it is clear that she is lying or not you want to realize that we are not even in recession, but depression phase and the measures we sink deeper. Has agreed to be the test of the IMF, whose measures already ruined several countries, prompted not by Greece and Italy where they are failing miserably. You do not tell people that we’re in a Third World War whose weapons are not firearms, but have a form of socio-economic experiments, where the tanks are agencies debt rating, where countries use the citizens to interests other than these, and where, in the end, people are dying and suffering, as in any war. You tell us who is good get to forty students per class, which is good to have fewer teachers, fewer doctors, less health care, and sometimes I think you are just assholes who can not act with malice. And believe me, I keep thinking. The bad guys are surely others, you do not have enough intelligence to realize that. Yes it does, however, to know that all this can bring social unrest, turmoil in the street. So going to approve a measure by which terrorism and criminal conviction will resist the will of the Government expressed in his arms of coercion, ie the police. As I’m saying this, I would probably be accused of terrorism by encouraging people to tell you the truth in the face.

    Mr. President, you will not tell because the Führer Merkel threat from the Fourth Reich is installed. It is no exaggeration, hey, who says to the Financial Times that as everyone knows is definitely left of center. We’re in the middle of a World War III, I again repeat it, and not an idea only mine, but people like that who has studied, has doctorates, has taught at several universities, has traveled the world, has read much much, speaks several languages, has lived different processes of crisis and recovery, and some also like sports. But we also see that you got a first phase of Financial Transactions that drowned our economy and now we get into a phase of Positions to sink in shock, fear, anxiety.

    Only I wish that if ever rebels society, we left, we took the government proclaim a Constituent Assembly, convened a referendum on the state form, dissolve existing parties and force them to recreate themselves in games that meet political ideologies and not economic ones, establish a truly democratic election system, we left the German currency (also called Euro) and establish bilateral agreements with major countries, invest in education and research. If all that happens and starts with a lit fuse that society. If you pass, and commandeering his palace in the Moncloa, hopefully you’re already gone into exile in Berlin.

    Or something really bad will happen. Too bad.

  7. SDRII on May 23, 2012 at 8:18 am
    Brzezinski explained that global political leadership had become “much more diversified unlike what it was until relatively recently,” noting the rise of China as a geopolitical power, and that global leadership in the context of the G20 was “lacking internal unity with many of its members in bilateral antagonisms.”
    Brzezinski then explained another significant factor in that, “For the first time in all of human history mankind is politically awakened – that’s a total new reality – it has not been so for most of human history.”

  8. SDRII on May 23, 2012 at 8:16 am

    HAK: Internationally, the problem is that there are upheavals going on in every part of the world, but these upheavals don’t follow the same basic causes, and so the United States has to be part of an international system that we create domestically. I have to say that a big problem we are facing is that the new information technology produces a lot of information but not necessarily knowledge. And that social media connects you with groups but not necessarily with a purpose. And that is a challenge.

  9. p on May 23, 2012 at 5:26 am

    “I concur, at least as far as the Daily Bell’s analysis goes, for rather than being increasingly compliant, populations are increasingly restive, and, like it or not, they are aware in a way and in numbers never encountered before that it is the financial elites themselves that are to be held responsible. Only two decades ago, such views would have been confined to the “conspiracy theory fringe;” now, they are commonplace, and that is, indeed, a sweeping cultural expansion.”
    Yes, people do seem to be more aware of certain facts than they were before. Here (the Netherlands) at first glance, there does not seem to be much potential for unrest / uprising or anything of the sort, which could be because the Dutch are always the last to hit the streets (things tend to be better here financially anyway compared to the rest of europe) and tend to be kind of naive in the ways of the world (“that doesn’t happen here!”). But even here, the idea that “the bankers” are to blame for the crisis and “we” have to pay for it has gone mainstream and that is quite amazing to me. People who would roll their eyes at that kind of talk now silently nod in agreement.
    The outrage seems to be simmering under the surface at the moment, and who knows, it might actually boil over, maybe we only need one more big corporate outrage.
    Myself, I can’t wait.

  10. romanmel on May 23, 2012 at 5:20 am

    OK. Since we have embarked on a journey of “what ifs” let me speculate even further. Italy’s refusal to endure austerity could create a situation in which the elite crowd can no longer exist free from danger of world-wide revolution by citizens who find themselves impoverished and desperate. A determination is made by the elites to leave Earth and take their place with the breakaway civilization off planet. Thus, we have a world in financial shambles looking to the heavens with the sudden realization that they have been “LEFT BEHIND”. Sound familiar?

    • CTRLALTDELETE on May 23, 2012 at 9:53 am

      I’m ready to start a new book anyways…. bring on the blank slate.

    • Awake on May 23, 2012 at 10:30 am

      Won’t save them for long. Their hidden technology really isn’t all that sophisticated. We will soon be on their heels and even overtaking them in capability once they are out of the way and no longer suppressing our inventive potential.

    • HAL838 on May 23, 2012 at 6:06 pm

      It’s no surprise that they are delusional.

      It takes a very long time to terra form a planet.

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