Starting The Financial Race to Hell?

German President Koehler Resigns. - A Sacrifice or Starting The Financial Race to Hell?

By Far Sight3

Starting this Monday with an act of brutal piracy off the coast of Gaza another political earthquake shattered the headlines all over Europe today:

German President Horst Koehler resigned in a surprising move after being criticized over a radio interview he gave following a visit to German troops in Afghanistan. Linking the country's military deployments abroad with the Germany's economic interests he drew harsh criticism from opposition politicians who demanded him to take back his remarks and accused him of damaging the public acceptance of German military missions abroad.

In 2000 Koehler had been appointed Managing Director and Chairman of the Executive Board of the IMF after the government of chancellor Gerhard Schroeder had their first nominee rejected by the U.S.-admin. In 2004, Koehler resigned his post with the Monetary Fund after being nominated by Germany's conservative and liberal opposition parties as their presidential candidate. The German presidency carries little real power but traditionally functions as the nation's moral voice.

Although Koehler's interview where he stated that, "for a country with Germany's dependency on exports, military deployments could be necessary ... in order to defend our interests, for example free trade routes..." was told to be the official reason for his resignation -- the truth for his surprising announcement could be found in the recent financial turmoil over Greece more likely.

Beeing once IMF he should have known what is going on in the financial world.

Koehler might have been simply annoyed about the ongoing plundering of German wealth, especially the favouring of French banks over German interests by the ECB -- the European kind of FED.

From the Business-Insider:

A report in Der Spiegel (in German) suggests that top Bundesbank bankers see a "plot" underway at the ECB.

Germany's top bankers are confused: € 25 billion, the ECB has so far spent on Greek government bonds. According to SPIEGEL information suggested the Bundesbank, that is served chiefly to Paris - so French Institute could get rid of their scrap paper.

Here's what they're upset about: The ECB is buying up Greek debt (largely from French banks), but the Germans don't understand why. After all, Greece has already received its bailout money already ; Greece should be able to pay back its debt in full.

Why, then, do French banks need to offload its junk paper?

Beyond the fact that the French have the biggest exposure, there's another reason why the French may be winning bag:

Some senior central bankers do suspect a French plot, after all, ECB chief Jean-Claude Trichet, a Frenchman, under pressure from French President Nicolas Sarkozy revealed an iron rule of the monetary base - that is never to buy government bonds from Member States.

Throw in another Frenchman, the IMF's Dominique Strauss-Kahn, and you have all the right people in power.

But the scam goes much deeper as you might conclude from this article!

As part of the "Southern Europe Help Arrangement" German banks are blocked to sell their Greek bonds until 2013 as they have committed to their treasury not sell any of their Greek trash for three years. Moreover, the biggest German holders of Greek debt are those banks which are owned by the state -- as Hypo Real Estate, the German pendent of U.S. AIG. In other words French banks will receive their bailout from the German taxpayers who have to pay again when Greek goes bankrupt and French private banks will have not to worry about their former loans to Greece anymore by then...

Additionally, the German share in the ECB is 27% and to that extent the French Banks' unloading will increase the German Greece exposure proportionately.

Horst Koehler knew about all this but he wasn't able to address his growing anger in public -- as it wouldn't have changed anything -- except provoking even public uprisings.

By resigning he saved the integrity of the presidental office and perhaps the lives of Millions. As he wouldn't have been able to stand against the plundering of Europe, the plundering of Germany, done by the elites.