Peter Boehringer, August 3, 2022, ECB Loan Purchases

AfD Kompakt, August 3, 2022.

After just a few weeks is shown that the ECB’s new loan purchase program, in the view of the AfD clearly counter to treaty and thus unlawful, proceeds entirely at the cost of the Germans. The Germans, who are primarily liable for the permanent rescue of the euro, now immediately receive with the evidently permanent asymmetric purchases of the ECB the worst of all worlds: High inflation as a result of the incessant printing of money in the eurozone’s “inflation community”, and also at the same time, climbing interest rates for credit for German individuals, businesses and even for the German state – while the Italian and Spanish indebtedness remains much too favorable or even becomes more favorable. The fathers of the Maastricht Treaty wanted to prevent exactly this state financing by the ECB as well as this liability and transfer community for excessive (southern) European debt-makers. Yet the corresponding Articles 123 and 125 of today’s EU Treaty will be ever more shamelessly ignored by the ECB.

Besides, the purchases, heedless of the ECB capital ratios and in the view of the Federal Constitutional Court actually illegal, nevertheless will not in the long term save the failed currency experiment of the euro because it deals with a faulty construction which besides harms all participants. Meanwhile, only the AfD has from the beginning stated these fully obvious facts.

Since now the ECB with its new programs even permanently institutionalizes the treaty violation, the long term decline of euro crisis and money devaluation is to be ended only by means of an exit of Germany from the euro’s permanently law-breaking “community of fate”. If we do not do this in good time, the entire cost of the southern European over-indebtedness is to be borne by the ultimately liable Germany, and thereby remains hanging over the German taxpayer, or – more likely – by all people through high rates of inflation, or in the form of a euro becoming ever weaker and ultimately by means of a “currency reform”. The volume of weak loans which will accumulate ever more dramatically in the ECB balance with many trillions of euros will ultimately exceed the entire financial assets of all Germans!

 

[trans: tem]

 

Peter Boehringer, July 12, 2022, Euro Devaluation

AfD Kompakt, July 12, 2022.

The euro’s weakness is no accident. It is the logical consequence of the failed economics and unchecked monetary policy of past decades. With its inflation policy, the ECB has in fact managed in a milieu of weak currencies to bring forth the weakest of all currencies and even to devalue the euro against the currency of the U.S.A., the world’s debts champion. Despite the record high inflation, the ECB avoids an appropriate change of interest rate and continually purchases state debts solely to maintain the euro’s southern countries’ ability to pay. The result of this state of affairs, contrary to treaty, is the devaluation of the euro.

In addition, the euro’s exchange rate is closely connected with the state of the German economy. Its downfall is the result of its real economic manipulation [Gängelung] by the Federal government and the EU: Over-regulation, CO₂ planned economy, subventions and cohesion policy, transfer payments, sanctions policy, debates laden with ideology are the crippling poison which undermines the economic power of the entire EU and this leads to the devaluation of the euro.

This devaluation to parity at the same time contradicts the myth according to which the severe price increases are in the first instance to be traced back to the war in the Ukraine. It is much more evident that the euro loses value on a broad front – the higher import prices thereby intensify the problem of inflation.

If the ECB does not immediately begin the change in interest rate, the capital flight out of the euro zone will be accelerated, purchasing power further weaken and the entire euro zone drawn into stagflation. Yet since here a reversal in the monetary policy will foreseeably fail due to resistance of Italy, France and other countries, can ultimately only an exit of Germany from the euro zone and a return to the D-mark stop the devaluation and with it the asoziale inflation.

 

[trans: tem]

 

Peter Boehringer, July 5, 2022, German Trade Balance

AfD Kompakt, July 5, 2022.

What Merkel prepared in the 16 years of her anti-Germany policy, the red-green-yellow Ampel now brings home: Under the Ampel, the life’s blood of the German industry and economy will be turned off, quite consistently and almost literally. Yet its surpluses were and are the source of our prosperity! Without good export numbers – say, in the important Asiatic markets of China and Russia – there are no long-term realizable imports. It may then be that one can live on a systematic, long-term basis of indebtedness, like the U.S.A. on its world reserve currency dollar, or one may have a “Big Spender” in Europe like the EU’s southern countries, so far by means of German EU transfer payments. The Great Awakening will come even for those transfer recipients when in the future Germany can no longer be the world’s paymaster.   

If the government in all fields does not finally change course (an energy policy on a “green”, unrealistic basis, a sanctions policy with harm primarily for one’s own country, CO₂ duties mania, crippling Corona preventive measures, an EU planned economy on the basis of mountains of debt, an economically expensive and harmful immigration policy), Germany’s deficit situation will not have been a one-time slip but will become a long-term condition.

The German success model is thus acutely endangered – and with it disappears our prosperity when a future, long-term trade balance deficit of the greatest EU paymaster will also further weaken the value of the euro and so will further fire up the inflation by means of rising import prices.

As a result of rising prices in a deficit economy, the people will no longer be able to compensate for their sinking purchasing power with higher wages. With the German prosperity also disappears our ability to subsidize the entire world or in the long-term rescue the euro. Will the anti-rational government or the world come to its senses? The German poet Friedrich Hebbel already foresaw it coming 160 years ago: “It is possible that the German disappears from the world stage, for…all nations hate him, the good like the wicked. Yet if they really for once succeed in driving him out, a situation will arise in which they again wanted to scrape him out of the grave with spikes.”

 

[trans: tem]