The always provocative Alex Krainer provides details on how the European Union (EU) created its European Stability Mechanism (ESM):

“The treaty establishing the ESM is an astonishing legal concoction which established a limitless, institutional conveyor belt of bailout funds from the European taxpayer, ultimately to the banking cartel. ESM’s capital was supposedly limited to €500 million (in some documents it says €700 million), but the Treaty sets no limits on the obligations imposed on European taxpayers, no room for negotiation, no legal recourse.”

Alex goes through the grants of powers and immunities, and states:

“If we boil down the legal language of the ESM Treaty, we have an unelected, supra-national body that can allocate unlimited bailout funds, ultimately to the benefit of Eurozone’s failing banks, at their discretion and in perpetuity.”

Some did try to fight the treaty:

”For a few days in October 2011, a group of Slovakia’s MPs actually looked into the contents of the treaty. They held out and refused to approve the ESM bailout funds arguing that it was wrong, punishing prudent nations (their banks, actually) and rewarding the profligate ones….The EU and ECB came down hard and fast against Slovakia. Within 5 days the government fell and the parliament quickly ratified ESM funds.”

The predictable results:

“Twelve years after the ESM was established, the ordinary Europeans have seen their standard of living collapse even if they can’t tell how or why that happened. According to Eurostat, in 2023 more than 45% of European people struggled to make ends meet. In some nations, like Slovakia, more than 65% struggle. This is not exactly the prosperity we’d been promised.”

He concludes:

”…socialism for the bankers will end as all socialist experiments have done through history: with stagflation (we’re there already), hyperinflation (give it time), wars and civil wars (let us do all we can to avoid that outcome). It is time for the plebs to realize who the real enemy is.”

Click here to read his article.