As we stated before, Rahm Emanuel isn’t the only one who believes that a good crisis shouldn’t be wasted. The attacks in Paris have galvanized much of Europe and as such politicians across the Continent (and here too) are trying to grab power while the climate is right. Case in point? That the EU now wants access to pretty much every bit of financial information flowing through the SWIFT system. Basically they want ultimate control over electronic transfers.
They need this information of course to “combat terrorism.” It has nothing to do at all with keeping a thumb on the main artery of the modern global economy. (Or Russia.)
On Friday, we previously reported that “Europe Cracks Down On Bitcoin, Virtual Currencies To “Curb Terrorism Funding.”
That was the appetizer because today we read, again with little surprise, that “as part of a push to clamp down on the financing of militant groups” French Finance Minister Michel Sapin European said that authorities need to be able to tap into data from the SWIFT bank payments network.
Actually, no. What authorities should do is find out which Swiss and Dutch trading houses are helping the ISIS oil smugglers deliver their oil to the open market, especially since as we reported previously, they already know all the “third parties” involved in this illegal terrorism-funding activity. Of course, this avenue is blocked since pursuing it would reveal just who at the pinnacles of European bureaucratic (and banking) power benefits the most from closing their eyes to the ISIS oil smuggling trade.
Instead, Europe would much rather just have access to the entire pipe of financial transaction data, which of course is precisely what the Patriot Act spawned in the US. In other words, just like the US in the aftermath of 9/11, so too Europe has decided to not let this “crisis” go to waste and is quietly unleashing the biggest expansion of the government apparatus in European history.