The recent agreement by European finance ministers to form a banking union is another step closer to a globalised banking system, part of the plans globalists to establish the New World Order.
Under the so-called Single Supervisory Mechanism (SSM) agreement, banks with more than 30 billion euros in assets will come under the supervision of the European Central Bank (ECB) from March 2014. The SSM serves as the first stage of the banking union and the ECB will act as chief supervisor of Eurozone banks.
Banks will have to accept the supervision and control of the SSM which is a unit affiliated to the European Central Bank, as the deal will authorize the ECB to close down those EU banks that do not abide by the rules.
At a meeting of the Eurozone ministers, EU Commissioner, Michel Barnier said “Piece by piece, brick by brick, the banking union will be built on this first fundamental step today.”
The agreement has been described as one of the most significant transfers of authority from national governments to regional authorities since the creation of the euro.
One of the reasons for establishing the SSM in Europe has been stated as allowing rescue funds to recapitalise struggling banks – eventually. But perhaps we will see more closures of banks rather than any real help for those who fail or struggle in weak economies.
We think it won’t be too long after the SSM goes into operation that we will start to see more control passed from individual governments and national banking systems to the European Central Bank.
At some point the European Central Bank and the SSM (and other similar systems around the world) will be seen as not working, opening the door to the establishment of a global banking system. Step by step.