With escalating fears regarding the stability of the eurozone, today King World News interviewed former LBMA commodities broker and trader and current MEP Nigel Farage to get his take on the situation. Farage told KWN he believes there will be an attempt, within months, to install a dictatorship in Europe. Here is what Farage had to say about the deteriorating situation: “Frankly, the whole thing is falling apart. And in the middle of all of this, Mrs Merkel came out and said, ‘The fiscal treaty cannot be renegotiated, and it must hold.’ So, I suppose, for once, we’ve got the Germans providing the humor, because this thing isn’t going to hold.”
“I now believe the euro and the whole euro system are now in, by far, the deepest crisis that we’ve seen. We are in totally uncharted, chaotic territory. In some ways the ball is very much on the German side of the court. If they are unable to impose the discipline they thought this new Compact Treaty would give them, then maybe it’s the Germans that say, ‘Right, Greece you’ve got to leave.’ We know once Greece leaves, the dominos start to fall.
To say that it’s a total mess is entirely accurate. You cannot have national democracy and this new form of economic and political government. We’ve seen these guys do some terrible things. I mean they’ve gotten rid of elected Prime Ministers in Greece and Italy.
But they cannot at the moment, without imposing a total dictatorship, stop general elections from taking place in countries….
“If you put me up against a wall and ask, ‘What’s really going to happen?’ My guess is, with the whole thing being unmanageable, we face the prospects of the markets just overwhelming this.
(We risk) bond spreads heading to completely crazy levels. And French and German bank shares could be in very real trouble. I am back in Brussels today, and yeah, you can really see the fear in their (politicians) faces. They know that this thing (the EU) has become an absolute monster.
We still don’t have many political voices that have the courage to say, ‘We’re headed for the rocks, and before we hit the rocks, let’s take a different course. Let’s try to break this thing up peaceably, before it ends in disaster.’
It’s always the case in history that the establishment always supports the status quo and says, ‘If what we have today breaks up, the sky will fall.’ But actually, I think the only way we can avoid a depression is to break this (the EU) up.”
Farage also added: “It’s astonishing. I mean the European Parliament meets tomorrow, and there is a debate about the emergency. Would you believe it, that Mr. Barroso, the President of the Commission, and my old mate Herman van Rumpuy, the European President, are both not going to be there because they have previous engagements?
Even if they do have previous engagements, surely nothing could be more important than to come before the one representative assembly for half a billion people here in Europe. It looks as though these guys are hiding in their bunkers, pretending it’s not happening.
What these guys in the EU are going to try to do is, as this crisis gets worse and descends, there will be an attempt at some point in the next few months for them to set up something that will be very like a dictatorship. I’m not sure now, with the public mood, that they will get away with it … the similarities (to the 30s) are really rather chilling.”
Farage had this to say about gold: “I think the short-term speculative market had gotten itself too long of gold, and I’ve been warning about that for some months on your program. Just too many of the weak longs were there and they need to be flushed out of this marketplace. That process is beginning to happen.
But my goodness me, with everything else I’ve seen over the last 72 hours in Europe, buy gold on dips.”
Nigel Farage: Member of the European Parliament (MEP) & Founding Member of the UK Independence Party (UKIP) – Nigel is MEP for the South East region and is the leader of the parliamentary party in the EU parliament.
He has worked for British, French and American companies operating in the commodity markets, especially the London Metal Exchange (since 1982).
The central aim of the party is the UK’s withdrawal from the European Union and to regain control of this nation’s governance through our own Parliament at Westminster.
Nigel was a Conservative activist from his schooldays until the overthrow of Margaret Thatcher; John Major’s signing of the Maastricht Treaty brought his membership to an end.