The markets were suffering from fatigue as they struggled to digest the liquidity driven rally of global assets last week. This week will not provide respite as the financial world awaits the outcome of three potentially major market-moving events. The first mover will be the ruling by the German Constitutional Court (GCC) in Karlsruhe as the HIGH COURT will determine if the ESM established by the EU as a bond buying mechanism is in breach of Germany’s basic law, in that the ESM undermines the fabric of German politics by consigning the BAVARIAN BURGHERS to the credit responsibility of the EU profligate states. It seems that the COURT must deal with the concept of “TAXATION WITHOUT REPRESENTATION” as the transferring of German wealth to the European treasury needs to be done by the Bundestag and not by mere cabinet decision or by the complicity and complacency of the central bank.
Posts Tagged ‘Mark Rutte’
Notes From Underground: Elections, Court Rulings, and Other Tales of Ordinary Madness
September 10, 2012Notes From Underground: If You Go Chasing Rabbits
April 23, 2012One Pill Makes You Larger
And One Pill Makes You Small
And the ones that mother gives you
Don’t do anything at all
Go ask Alice
When She’s Ten Feet Tall
Nothing like spending four days in Berkley to see the world as allegory