On September 13-14, the Brussels-based think tank BRUEGEL and the Peterson Institute for International Economics hosted a conference on Resolving the European Debt Crisis close to Paris. The conference assembled about four dozen policy experts and practitioners, mainly from Europe and the United States. Support for the conference was provided by Tudor Investment Corporation and Black Rock Investment Management.
On the second day, a simulation game took place among the conference participants in what amounted to a stress-test for European debt policy. As the simulation unfolded, a powerful solution to fend-off speculative attacks was found. The game was directed by Andrew Gracie of Crisis Management Analytics*(* <http://www.crisismanagementanalytics.com/>* http://www.crisismanagementanalytics.com*<http://www.crisismanagementanalytics.com/> *)* <http://www.crisismanagementanalytics.com/>. Gracie is a former member of the Bank of England’s Financial Stability Group with a strong track record in running simulated games for central banks globally. No sitting officials participated and the game was held *under the Chatham House rule* <http://www.chathamhouse.org/about-us/chathamhouserule>. Participants played the roles of the governments of France, Germany, Greece, Ireland, Italy, Portugal, and Spain; decision-makers for the ECB, IMF, and United States; and decision-makers in commercial banks in the countries involved and non-bank financial market actors. In addition, in response to successive rounds of the game as it unfolded, other participants provided expertise in the areas of credit ratings, legal and accounting issues, and political repercussions. As the simulation unfolded, a solution to fend-off speculative attacks was found. ( * http://www.bruegel.org/publications/publication-detail/publication/606-resolving-the-european-debt-crisis-conference-summary/ *<http://www.bruegel.org/publications/publication-detail/publication/606-resolving-the-european-debt-crisis-conference-summary/>) In the war game the EU/IMF decided to expand the European Financial Stability Facility (EFSF) to between $3 trillion (£1.9tn; 2.2tn euros) and $5 trillion (£3.2tn ; 3.7tn euros). This was done by leveraging the 440bn euros supplied under the EFSF legislation going through European parliaments this week, plus match funding from the IMF. And by the ECB issuing "collateralised finance". That is, by pledging around 700bn euros, they borrowed up to $5tn and then lent it to European banks and countries, starting with Greece. They got the money by mortgaging the assets of Europe basically, because $5tn is a lot. They mortgaged the EFSF money, and then the ECB borrowed money against the future tax revenues of Europe. There were two interesting outcomes: 1. They saved the euro. Greece, Ireland et al stayed inside, now protected forever - certainly for the lifetime of the participants, who were mainly on the upside of 35 - by the wedge of money conjured from thin air. 2. It didn't solve the structural problems facing the periphery - but simply gave them more time to sort it out. An account of the game reports: "The large new lending facility was seen by some players as free money for errant countries without sufficient conditionality." This Breughel document is doing the rounds in Washington DC, and contains an uncanny blueprint for what might now be about to happen. (* http://www.bbc.co.uk/news/business-15051882*<http://www.bbc.co.uk/news/business-15051882>) And what might be about to happen is that the Central Banks will start the printing pressing rolling and devaluing currencies throughout the globe. This will result in inflation and higher food and energy prices throughout the world. This will result in more global unrest resulting in more war, death, and destruction resulting in increased profits for the Bilderberg/CFR/RIIA Military Industrial complex. roundtable -- Please consider seriously the reason why these elite institutions are not discussed in the mainstream press despite the immense financial and political power they wield? There are sick and evil occultists running the Western World. They are power mad lunatics like something from a kids cartoon with their fingers on the nuclear button! Armageddon is closer than you thought. Only God can save our souls from their clutches, at least that's my considered opinion - Tony You received this message because you are subscribed to the Google Groups "PEPIS" group. Please feel free to forward it to anyone who might be interested particularly your political representatives, journalists and spiritual leaders/dudes. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/pepis?hl=en
