by Jeff Berwick, The Dollar Vigilante:
Is this the most important time in the EU’s history?
Italy and Austria take votes at the beginning of December that could destabilize or even end the euro and the EU itself.
This is part of a destabilizing trend that we’ve long noted and anticipated, some 16 months ago with the destruction of the EU’s Schengen agreement that used to stand for free-travel throughout Europe.
The two potential upheavals are the Italian referendum and the Austrian election, both of which are set to occur on the same day, December 4th.
Not long ago, we mentioned how a collapse of the troubled Italian banking giant Banco Monte dei Paschi could prove to be problematic for the Italian economy and in turn, the entire Eurozone.
There are also three other mid-sized Italian banks, Popolare di Vicenza, Veneto Banca and Carige, which are in varying levels of distress, but additionally pose direct threats to the Italian financial system.
However, the precursor to bank failures In Italy is this upcoming constitutional referendum. The basis of this reform would lessen the number of Senate seats from 321 down to just 100 politicians. (Which, to be truthful, is still exactly 100 too many.)
Another proposed change has to do with the way Senators are elected. The new proposition is to have the Senate members be made up of “regional councillors” who will not be salaried as most of the current Senators are.
One more stipulation will allow the president to appoint five senators to serve for seven years each – in hopes of checking the power of the five current lifetime Senators.
The outcome of this referendum is particularly significant because it is likely to be a deciding factor in whether or not the populist Five Star Movement gains yet more power.
Stronger support for this party, which has vowed to carry out a new referendum for an “Italexit”, is certain to create a great deal more uncertainty in markets. International financiers are already sweaty palmed thinking about this disastrous prospect in light of the current prime murderer, Matteo Renzi’s threat to step down should the referendum fail.
Those behind Renzi are not merely observing passively, however. The political establishment, according to the UK’s Financial Times, intends to modify election laws to make sure the Five Star Movement cannot gain power no matter the outcome of next Sunday’s referendum on constitutional reform.
On the other hand, the real issue is not a “movement”, but the increasing disaffection of Italian voters. The recently completed trade agreement with Canada and the not yet accomplished and increasingly unpopular TTIP (Transatlantic Trade and Investment Partnership) are yet further examples of how the EU continues to drive full speed in a direction that Italy (and other European countries) don’t want to go.
The Financial Times compares what’s going on in Europe to pre-Revolutionary France. “The gatekeepers of western capitalism, like the Bourbons before them, have learnt nothing and forgotten nothing … the gatekeepers of the global liberal order keep on doubling down.”
Of course, here we diverge from the Financial Times’ analysis. The “doubling down,” is an illustration of ignorance on one level, but is entirely purposeful on another level. “Europe,” having been created, is to be destroyed and built back up again out of chaotic and despairful circumstances. In this way, control is extended and political integration is deepened.
The chaos – as we have seen in Greece – will affect all parts of society. It will shatter the political, economic and even military order. In Italy, the main impact right now is financial. Uneasiness is clearly visible in the declining value of Italian bank shares, which took place on Monday.
December 4th will be quite a busy day for Austrians as well, who are holding their election the same Sunday.
This Austrian election is both historic and popular, perceived to be somewhat of a “people’s win.” It is the first time in Austrian political history that the presidential candidates came from neither the Social Democratic nor the Austrian People’s Party, both of which have dominated the nation’s political landscape since World War II.
Nobert Hofer of the Freedom Party, who is up against Alexander Van der Bellen of the Green Party has stated that he would like to put a stop to the influx of migrants into Austria.
What is especially noteworthy about the date of Austria’s election is its numerological significance as it pertains to the number 7.
When you take a closer look at the date 12/4/2016 you can notice that 1+2+4=7 and 2+0+1+6=9 which leaves you with the numbers 7 and 9. So what’s the big deal? Well, when you add the digits 7 and 9 you get 16 and the sum of the digits in the number 16 (1+6) once again equals 7.
It is also eerily non-coincidental (probably) that the election is occurring exactly 25 (2+5) days, or 3 weeks and 4 days (3+4) after it was announced that Donald Trump was victorious on (11/9/2016).
To take the number 7 another step forward in the context of Brexit, it is exactly 164 days after the Brexit vote or precisely 5 months and 11 days (5+1+1=7).
It is no surprise that the elites have hidden and interspersed the number 7 throughout these dates, as they love to keep their occult agendas in plain sight where they know that very few people will notice.
So leading up to this coming Monday and in the week thereafter, we are anticipating a great deal of volatility in world markets as a consequence of the uncertainty regarding the outcomes in both of these countries.
In conjunction with these two European political events, traders and investors are also holding their breath in anticipation of a US Federal Reserve rate hike the following week, which also is likely to shake things up.
Not to mention, in the USSA, Texas has long been considering seceding from the union and now you can add California to the list as well. While many say a “Calexit” is just a stoner’s pipe dream, the state does have a larger economy than that of France and a greater population than Canada, plus, it’s an agricultural powerhouse.
Theoretically, the state could be self-sustaining and therefore its desire to secede should not be taken lightly. With the fragility of the world economy as it currently stands, any of these secession prospects warrant a watchful eye.
It is no coincidence that all these events are happening and being talked about right around the end of the Jubilee year which is recognized by the elites and those paying attention as a time of washing away.
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