A lot of people is asking the question of how the European debt problem could be solved. The above graph (in millions of Euro) shows the amount of debt maturing in the next three years, that will have to be refinanced. 1.7 trillion euros. There is no doubt that not a cent of the debt will be paid off, but it will have to be exchanged by new loans. Someone has to give these new loans, and that can be only Europe's Central Bank. How can Europe keep giving loans to itself?
The debt will never be paid back. Some mechanism will be found to make it go away, and the easiest is inflation. Another is bankrupcy and renegotiation of the debt aka "haircut". Another is forced savings, like war bonds. Europe also could sell itself to China.
In the past, Europe had always the Jews at hand to solve the debt problem. When the common people was feeling that they were working like slaves to pay the debts owed to Jewish moneylenders, and that everything was owned by the Jews, they could annul all the debts owed and expropriate all the property owned by Jews. They were also exiled so their long faces would not ruin the festivities. Then, when credit was needed again, they would be recalled. France in the 12th Century did it, England in the 13th, Spain in the 15th and Tzarist Russian in the early 20th Century. Hitler started well and Germany's Jews were let to emigrate with a suitcase alone, but then ruined this solution for several centuries ahead. Europe today has no Jews to be expropriated or expulsed. They will have to pay the debts owed to themselves.
But America still has the Jewish option. Should things become desperate, "Wall Street" could be nationalized and the "financiers" (in the widest sense, including analysts, accountants, statisticians, attorneys, etc.) encouraged to make aliyah. It would provide an historically proven solution and what a coincidence! it would also prove Theodor Herzl right.
10 comments:
Don't even joke about this, J. It would be a catastrophe not only for American Jews but for Israel, which would have NO allies. And it could be a catastrophe for the Jewish people if an even larger proportion of them were annihilated during the fall of the state. We don't yet know that Herzl wasn't very, very wrong.
England did not recall the Jews after the expulsion of 1290. However, in the decades leading up to the expulsion, most of their property had already been confiscated so that the ones who departed were already poor and of little use to the English fisc. The solution that the English crown found was to use Italian non-Jewish banking families to obtain loans and to play them off against themselves. In Germany of the expulsion period, the Fugger bank was started.
Wall Street is not so monolithically Jewish as early medieval moneylending (no Church ban on usury keeping out the competition), so there would be a lot more collateral damage to nationalization. NYC survives on finance money, so it would be the end of prosperity there.
I disagree. We should take everything with humor, just to make it bearable. Not talking about something does not make it disappear. This note was written as reaction to the general sentiment dominating the internet. It is incredible how much hate there is on the internet, how they hate us Jews and how much harm they want to do to us. Up to a point I was isolated from reality in Israel, but the internet opened a window for me. So there is no point to avoid mentioning the hate toward us and that Wall Street is synonim of Jews and if you think that it is not so, that Wall Street does not mean (for average American) = Jews, then Sir you are simply kidding yourself. And yes, I do think that Herzl was right.
On the other hand, I dont think that my Swiftian modest proposal will cause an avalanche of approval and be implemented tomorrow.
The Wall Street bankers have always been hated, even when only a few of the important figures were Jews. Do you recall any paeans of love for J.P. Morgan from the lower orders?
If there were no Jews on Wall Street, there would still be Jew-hatred. In fact, if all Jews lived in Israel, the Jew-haters would still hate and would be able to focus their ire undivided on the country. "Jew" is a tainted brand-name. The only way to avoid the stigma is to end association with it, a feat which takes generations.
J, your financial knowledge is limitless.
You should be the King of Greece.
Greece already has or had a King, the position is already taken.
HaAretz has an article this morning of an Israeli "professional protester" member of the original twenty that started the Occupy Wall Street protest. He says there is no antisemitism there, in fact, most are Jews themselves.
Other older peoples instinctively know who are their enemies and who are their friends, we Jews are fatally confused.
Greece already has or had a King, the position is already taken.
Then you should be King of Israel. You have accumulated much knowledge.
And remember not to be overthrown by your people.
"Then you should be King of Israel."
That's a job no sane person would want.
The JAPs can stay.
Akiva Eldar writes in the Israeli newspaper Haaretz:
Indeed, in Prime Minister Benjamin Netanyahu's address before both houses of Congress on Tuesday, he made impressive use of all the gimmicks of an experienced and sharp-tongued American politician. ...
Netanyahu proved that he has no Israeli equal when it comes to plucking the strings of American patriotism, of guilt feelings over the Holocaust, and most of all, of the wish of Congress members to preserve their close ties with the large Jewish organizations.
Old joke:
Q: Why doesn’t Israel apply to become the 51st state?
A: Because then they’d have only two senators.
i>members to preserve their close ties with the large Jewish organizations.
So?
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