it's time to cure the monetary disease

The European situation is rapidly spinning out of control, with bank runs known to be underway in at least two countries (Greece and Spain), and the beginning of a flight out of the euro itself, into dollars. 


Both the G-8 meeting May 18-19 and yesterday's Eurozone summit (#18) piously called for Greece to stay in the EU while imposing horrific austerity ("meet their commitments"), but there is already active discussion and "war-games" planning going on by the British, about how to deal with the European-wide financial maelstrom that would promptly follow a Greek exit.
Consider the following indicative developments, reported in more detail below:

* {Europe}: Bankers are war-gaming the scenario of a Greek exit from the euro, concluding that they would have 46 hours to prevent a total blowout, including "calming civil unrest."

* {Greece}: Pharmacists held a one-day strike warning of the catastrophic lack of 300 key medicines, because the government hasn't paid the pharmacies 1 billion euros they owe them. The head of the pharmacists association said: "I give it 15 days. If the European Union doesn't release the loans it has promised by then, there will be scenes of utter chaos here.:

* {Israel}: Demonstrations demanding the mass expulsions of Sudanese refugees from Israel are occurring. Member of the Knesset Miri Regev said: "The Sudanese are a cancer in our body." How do you spell tolerance?

* {Germany}: Two German peace research institutes issued a joint report stating that the current EU policies pose "a threat to peace in Europe," because the austerity is provoking uncontrollable social tensions which could lead to war.

We have really reached the point, with the total meltdown in Europe of the British monetarist system, when "we have to get rid of the oligarchical system of runaway monetarism. 


We've reached the point where there is no alternative to that. The monetary system must be replaced with a system that offers credit for major societal projects that promote the human species, rather than the disease of monetarism that protects worthless money men who never worked a day in their lives.