Direct European Bailout

Yesterday the Dow Jones jumped up 490 points - a huge boost.  This was spurred largely by news that Europe may finally be figuring out how to calm the debt jitters over Greece and the other countries on the brink of default.

Today as the dust settles, observers are noticing that the plan under consideration proposes to allow Germany to dictate the day-to-day financial operations of the struggling European nations - in exchange for Germany providing the bailout.  Apparently, some of those countries are realizing that they don't want their financial affairs to be regulated by Germany.

If Germany fails to make the necessary loans available to the failing nations, then a widespread collapse would be inevitable -

UNLESS . . . . . . . . . . . . . 

Obama succeeds in convincing U.S. taxpayers that our tax dollars must now go to these over-indebted, flunky Mediterranean nations who have partied at the public trough for too many decades. Obama will cry doom, of course - "If we fail to rescue these troubled countries, the economic implosion will reverberate in our economy, and we will face horrible catastrophes here at home!"

40 cents from every dollar loaned by the International Monetary Fund (IMF) comes from the U.S. (after we borrow it from China). If the Germany solution doesn't succeed, then the IMF will surely come begging for U.S. dollars, and we will inevitably play along.  I wouldn't be surprised if Bernanke just went ahead and coughed up the money in spite of the Congress or the wishes of the American people.

I know I keep asking the same question, but if all the Western nations (who, granted, are shuffling debts amongst themselves all the time) are collectively way too deeply indebted to some private bank(s), why do we not propose that the entire Western world file a Chapter 7 bankruptcy and be done with it - start over with a clean slate?  After all, that's what the Bible requires.  Do those bankers really need all our stuff?  What on earth could they do with all of it, anyway?

Don't tell me that someone doesn't have a cunning plan up his sleeve to systematically crash all of the Western economies to force a global, "New-World" currency, overseen by the bank owners.

Are you feeling powerless yet?