X


The secrets behind money:


The banking system in short



If you just sign here, I will give you a balance of $ 1,000 and you will owe me $ 1,000 plus interest.

Secrets of money, interest and inflation


From state debt to state money


A tale of two monetary systems


Towards a sound economy


Bank crisis? Reform!


Debit, credit, banco!


Banking explained:
the Derivative Scam


The secrets behind the euro:

Out of the euro, and then?


The secrets behind the European Union:


Stay quiet! We build Europe!

EUROPEAN ACTION AGAINST ESM!


ESM, the new European dictator!


ESM, a coup d'état in 17 countries!


ESM: How the Goldman Vampire Squid Just Captured Europe

Zeus rapes Europa



NATO rescues euro in Libya


Farewell to growth:

Outlook to 2100

World Energy and Population


Energy crisis:
Turning-point of humanity


The secrets behind the war in Iraq:


Cost, abuse and danger of the dollar


Iraq Memorial


The secrets behind the war in Afghanistan:

TAP: Turkmenistan-Afghanistan-Pakistan gaz-pipeline project

Pipelines to 9/11


The secrets behind the accusations against Iran:


Raid on Nuclear Fuel Market


Wipe Israel from the map?


Facts and lies about the climate:


1: The clockwork of the Earth and Sun


2: The activity of the Sun


3: CO2: scare, claims and fraud...

 

Humor:


There are alternatives to capitalism...

Protest in Draguignan



Cartoons


 

Treaties:

Treaty establishing the European Union (EU)

Treaty on the Functioning of the European Union (TFEU)

Amendment article 136 TFEU

First version of the Treaty establishing the European Stability Mechanism (ESM)(not ratified)

Treaty establishing the European Stability Mechanism (ESM)

Treaty on Stability, Coordination and Governance in the economic and monetary union (TSCG)

Vienna Convention on the Law of Treaties 1969


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European Action
against ESM

 

Initiated by Rudo de Ruijter, independent researcher, Olivier van Noortstraat 13, 6991 BG Rheden, Netherlands
The original starting pages for this action are located at www.courtfool.info
To contact me, please see per item here below.

The content of this page is updated continuously. Press F5 for the latest version!

The Treaty establishing the European Stability Mechanism (ESM) has been signed 2 February 2012 and Brussels wants it to be in force 1 July 2012. However, before that, the Parliaments and Senats of the 17 euro-countries still have to vote  wether they accept this dangerous treaty or not. These procedures for the ratification have already started! We have to act very urgently and efficiently!

Short video 3'51''  http://www.youtube.com/watch?v=rxMOW94V6xQ

English text of the treaty: http://www.european-council.europa.eu/media/582311/05-tesm2.en12.pdf
(If unavailable, here a copy )

The ESM in very short

The ESM has the appearance of an emergency fund. It is a permanent fund, replacing the EFSF and EFSM established in 2010. With a starting capital of 700 billion euros, it can decide itself to increase this capital indefinitely and claim the payments by the national Treasuries whenever it wants. To give you an idea what 700 billion represents, that is for each country a contribution that comes close to the amount of the income taxes for one year. Long live the budget cuts! Long live austerity! The ESM disposes of this money as it likes, without the least democratic influence, without any control, without having to account to anyone. A real dictatorship!

Its official purpose is to help countries with financial difficulties. In fact, it loads ever more debts on indebted countries. Its loans come with conditions that put the countries under guardianship, replacing democratically chosen leaders by bankers. With imposed budget cuts, the ESM acts as a demolisher, that deliberately causes severe economic crises and massive unemployment. That goes for the countries that contribute financially, as well as the countries that accept to borrow from the ESM. It is the Choc Doctrine as described by Naomi Klein.

Politicians, like the Dutch Rutte and de Jager, like to make believe that it’s the countries own fault if they are indebted. They would employ too many officials, they would have taken bad decisions, they would be lazy-bones or they would have lied about the debts they had. Note that none of these countries had major problems when they entered the eurozone. He would not have been accepted. In fact, the cause of their indebtment is the euro! Read the explanation in the letter here below.

To stop the ESM, all Europeans have an interest that this treaty gets the least possible ratifications.

A collective letter has been sent to the parliamentarians and senators who vote about its ratification.
 

Dear Deputy / Dear Senator,

Essential information has remained hidden in the large pile of documents about the ESM.

The euro has one unsolvable issue!  You do not have to be an expert to see this.  Within one minute you will understand. Here is the explanation:

With open borders and shared currency, nothing prevents consumers in countries with lower productivity from preferring cheaper and better products from countries with higher productivity. This causes a constant flow of euros from weaker countries to stronger countries.  Consequently these weaker countries are permanently short of euros and are obliged to borrow more  all the time, simply to dispose of euros.

(Before the introduction of the euro, these countries could devaluate their currency. This way imported products became more expensive for their own population and exported products became cheaper for foreign purchasers. This way, domestic productivity increased again and foreign debt decreased.)

Within the euro-zone, there are big differences in productivity, caused by differences in climate, fertility of soils, availability of fresh water, distances to be covered, natural barriers in transportation, availability of energy sources etc. These conditions largely determine success or failure of economic activities. Greece, Italy Spain and Portugal will never resemble Germany.

Moreover, the European Central Bank only disposes of one interest rate for 17 different economies. A change of this rate - which has always been mentioned as  an important tool  to influence the economy -  can only be profitable for a few countries, while the others suffer from the consequences. Monetarily this zone is ungovernable.

The ESM and the associated treaties just treat the symptoms of the imbalances within the euro zone.  No measure can eliminate the differences. Ever since 1970, leading economists have been warning us about this problem. (See attached references.) Although politicians may have beem well-intentioned, introducing a common currency in such a heterogeneous area was a big mistake.

The crisis of 1930 was also caused by politicians who ignored the elementary workings of the economy,  or did not want to see them because they did not fit in their ideas. Clearly, anyone who critically assesses these issues understands that with the giant financial contributions to the ESM and the imposed austerity rules, we run straight into another large-scale crisis.

Because there has been no referendum about the transfer of competences to Brussels, and because no major public debates on this issue have taken place, your personal responsibility in the decision about the ESM is enormous. We are aware of the pressure exerted on you from all sides.

We intend to publish the vote of each Parliamentarian and we will bring it to the attention of the widest possible public, so voters can take this into account at the next election.

Yours sincerely,


 

Repartition of shares

The euro-countries contribute relatively to the number of their shares in the total capital.

It means, for instance, that for the start of 700 billion euros, the Dutch will have to pay 40 billions. Compare that to the amount of Dutch income taxes of 2011: 45 billion euros. And the ESM can increase the amount indefinitely!!!

The Board of Governors of the ESM is composed of Governors, who are the Ministers of Finance of each country. Their voting rights are relative to the number of shares of their country.

It would be an error to think, that this gives some relative power to each country. When the Minister of Finance acts as Governor of the ESM, he cannot be called to account by the national Parliament nor by anyone else. As Governor he acts under an international treaty, which has always priority over national laws. The only thing the national parliament can do is send him home. Would he mind? I am sure the following day he can earn three times as much in one of the companies that benefited from the billions of the ESM.

International list of events about ESM

You can find an international overview of ESM-related events listed by the helpers of this action here:

International overview ESM events

International list of articles about ESM

You can find an international overview of ESM-related events listed by the helpers of this action here:

International overview ESM articles

 

 

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You can contact me in english, dutch, french or german. (For other languages I need translators.)
courtfool@xs4all.nl

 

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Autores:
Rudo de Ruijter
Yannis Varoufakis
Costas Lapavitsas
James K. Galbraith
Gerard Dunénil
Michael Hudson
Ed Dolan
Jacques Nikonoff
Jean-Claude Paye
Eugénie Rosa
Jorge Figueiredo

Brussels committed a coup d'état in the 17 countries of the euro-zone.


It is the European Commission that according to its President Barroso should be the economic government of the Union, which defines the actions that national governments must carry out. (28.09.11)

A new treaty will allow Brussels to take unlimited money from the states vaults to rescue the euro.


The dictatorship of the ESM robs the Treasuries in 3'51''

Of course, the European Union does not want the citizens to learn about it.

On the internet they made available only one copy of the text of this treaty: in english!

(96,5% of the euro-citizens speak other languages!)

This European Treaty has been signed 11 July '11 and is called the European Stability Mechanism, ESM, a kind of permanent rescue fund with unlimited power and unlimited access to the Treasuries of the 17 countries.

Curiously, not a single newspaper, not nationally nor internationally has spent a title on this treaty.


The Ministers of Finance proclame themselves Governors of the ESM. (Signature of the first version of the ESM-treaty, 11 July 2011)

Me and others denounced the irregularity of the treaty. Apparently the instigators of the treaty were not satisfied either and wanted a much more extended treaty. So Brussels had to come up with a second version. This time it was signed by the Ambassadors of the countries. That was on 2 February 2012.

Once again, the press stayed quiet and even today, only very few Europeans know about the monstre that disguised as merciful Samaritan is getting ready to overrule our democracies.

Meanwhile the parliaments of the 17 eurocountries have ratified the treaty. Over 2,000 so called democratic represtatives corrupted the fundament of our parlementarian democracies.


When consumers prefer products from other euro-countries, the euros leave the country and the country gets indebted...

StartJoinTranslators

Special thanks to:

Christine, Corinne, Francisco, Evelyne, Françoise, Gaël, Peter, Ingrid, Ivan, Krister, Jorge, Marie Carmen, Ruurd, Sabine, Lisa, Sarah, Valérie and Anonymous...


Translate too!

Information stops at the barriers of languages. If you speak more than one langage and want to help the court fool crossing these barriers, please, translate an article. Contact: courtfool@xs4all.nl Thank you very much in advance!

StartTranslators

Acknowledgements for translations:

Alter Info
Carlo Pappalardo
Come Don Chisciotte
Ermanno di Miceli
Ivan Boyadjhiev
Jorge G-F
Lisa Youlountas
Jose Joaquin
Manuel Valente Lopes
Marcella Barbarino
Marie Carmen
Mary Beaudoin
Michel Ickx
Natalia Lavale
Nicoletta Forcheri
Peter George
Resistir Info
Traducteur sans frontière
Valérie Courteau

Court Fool, 2011 - 2013