Here we go. The EU Politburo have spoken. Any EU sovereign bond sale contracts can be changed at any time to suit the EU demands. No longer are they safe to trust. The ESF, wonderfully excoriated here, has shown their pals across the hall at the ECB, how it's done.
In a nutshell, investors place a contract and hand over cash to the EU Central Bank in return for bonds. The contract will have clauses for interest and repayment. In the invisible ink written deal is now the following.
"Any agreement, trust or preparedness to honour this bond is only at the whim and behest of the ECB and its board. At any time this contract is deemed unhelpful to the ECB, it may be cancelled and all remunerations received in consideration of said contract be deemed the property and sole preserve of the ECB."
Now move forward to the use of euros and currency. Theoretically these are just day to day bonds traded in return for a cup of coffee or a motor car. Apply the weaponry now deployed with bond issuance, the howitzer of dishonesty and dishonour. You pay your 20 euros or 20 thousand for you drink or your car. Off you go. When you arrive home you get a message. The payment you have just made is no longer valid. The tender was devalued before the transaction cleared. You have to pay 10% more as decreed by the Central Bank whose notes you have used!
Far fetched? It's now a reality for eurozone bond holders. Now this is in place where next? treaty agreements between states, the complete take over of every Country becomes legally possible in these jack booted corridors of Brussels and its corporate legal and banking departments. Anybody wanting to argue will, if at all possible, need to resort to arms. Bingo, off we go again, a world war begun in Europe. A war to yet again stamp the European characteristic, worshipped in particular in Germany, of total arrogance and superiority, on all who would choose freedom and democracy.
How much more warning does the World need? It's a monster which even the USA, always pally until confronted with commercial loss of influence, might find even harder to control than they did in 1940. Still we might see the Russian Bear less than pleased when told its EU bond investments have been nicked! Or they may, too, play out the repetition of history, siding with The EU Cabal until that Cabal suddenly moves to control Russian energy supplies!