Lew Rockwell The Euro and the EU were a mistake YouTube

a crisis in greece will have a ripple effect on the global economy and send countries spiralling into recession join me now to talk more about this is the rockwell chairman of the ludwig von my sis institute how much danger is that the euro and at this point i hope a lot of incremental two euro goes out of existence the euro was a mistake was a centralizing mistake just like the european union itself was a mistake but i think it's important to clarify what the actual issue is here in greece in the euro and all that it's not that any views of the grease is being bailed out world but would like to be a lot of grease it's the banks that are being bailed out the banks that hold the great debt that bought this very risky debt paying a vast interest rates expecting that they would be bailed out its fifth greece couldn't play so what business agreement is they want to harm the greek people tip of the booed on the neck of the greet people in grad grind them into the dirt so the big banks can be repaid all that's wrong uh... we don't want that to happen uh... if we want to rebuild on some kind of us firm prohibitions of prosperity not only in europe but in this country then the banks have to go you cannot keep propping up these banks it's destroying the euro that's destroying the e_u_ those two things i think ur good but it's also destroying the the prosperity love living standards of the people of europe and of the united states and of other places in the world so the banks are out of control bank circles never mentioned in any of us we don't see we don't hear the banks being mentioned when there are when they're discussing this because that's all sort of the secret message and uh... i think that now we have to uh... we have to focus on cool what is the trouble again also the whole question of contagion if general motors goes out of existence tunnel leaders have not heard the other automobile companies they're probably all having a party that they have less competition but the banks are all connected together they're all inherently bankrupt because of their fractional reserve no bank as everybody's money and it doesn't take a very uh... born number of customers demanded their money to put any bank out of existence were it not for central park so bcp in europe the federal reserve in this country uh... cause vast damage bring on booms and busts these recessions and depressions in order to protect the banks so we live in some kind of bangkok receipe whether it's in europe or in this country we need to end that we need sound money we'd honest banking we need an end to central banking and by the way it is all happening they may keep this going a little bit longer in europe but the banks are so out of control so will leverage so and death that uh... there's not enough money in the world really to fix these these are dangerous and the monstrous institutions so they have to be reformed we need massive reform and uh... maybe this is going to be happening it's it's uh... this there is an occasion for me more pain were already in paying more in in a very serious recession in the u_s_ and in europe too there's no recovery going on were we're getting things are getting worse so we only have a hope and really over and some kind of good serious reform it doesn't do the alcoholic any good if you take another bottle of liquor unveiled its gonna be pain when he stops that's what's necessary i mean you had mentioned that you know the rally bad news com and not dead for the year is on there but there is fear that if they don't last year the you're out that is that as and said that content is a recession and what it what's your response to that fear can pick the continent is in a recession but before better to have for example to deutschmark back in existence which was a less crazy currency lesson flip problems of all fiat currencies all paper currency but far better to have huge individual country having their own their own individual currency then this so that this european white currency there's some people john maynard keynes for example one of the world currency you one of the bank or and there are some people want that i would be even worse so we want to we want political decentralization uh... monetary decentralization as long as we have a fiat currency if we had a gold standard but of course gold is exactly the same of the same way in phineas whether it's in the sri lanka or uh... what some horrible or uh... venezuela that's actually what we'd like to have if we want real growth some money honest money and not uh... the government of the big banks on the other big institutions affiliated with governments ripping us off silly i sound like u we think that your uh... we should be drops uh... just as a currency about right now the discussion is to dropped grace from the year as though and i am do you think it's it's that is in the best interest of the arizona said to give grease the bit but it is probably in the best interest of greece another greek establishment but verses par baat often and uh... threatened i'm sure that would involve a girl was meeting in the g twenty than on the rack and overturning tricking the woody allen had the thumb screw on time and all the rest that's of course the way these people operate but i think it is in the interest of the people of europe of the individual countries of europe so that the the beer or go out of existence these country have its own that so corrected then you have germany being far sounder luxembourg being for sounder austria being parse out of than then greece or roads of portugal and spain whatever's bubble that could change of course everybody can get sounder but uh... decentralization of the way this is european central bank controlled by these bureaucrats in brussels who've more more setting up an authoritarian regime uh... trying to run every aspect of everybody's life in every country disliked by the way the u_s_ government doesn't hear was not a good thing to have a big centralized government in the u_s_ is not a good thing to have it in uh... in the european that we need decentralization break-up freedom on this money sound money on a spanking greatly that that is all the time we have that was a little rockwell chairmen of the ludwig van nieces insincere