The absolute sovereignty of the European Stability Mechanism (ESM)

No wonder Mario Draghi is looking pleased with himself, he, and his Goldman Sachs inspired “administrators” have, as John Ward said in a recent post ; “Reinvented the Divine Right of Kings”

The ESM is the ‘vehicle’ through which sovereign bond buying (bail-outs) will be delivered (watch out Spain) and which is ‘above the law’. The full document can be downloaded here ;

This extract from John Ward, (below), highlights what is being set in place to ensure the (now) quadrillion dollar derivatives market stays afloat. This is DEBT. The Real News film interview gives an outline of the ‘problem’.


So, back to Mario and the ESM and the John Ward report, these “exemptions” should scare anyone.

Article 32, para 3: The ESM, its property, funding and assets, wherever located and by whomsoever held, shall enjoy immunity from every form of judicial process. (There is one exception – entirely in the ESM’s favour)

para 4: The property, funding and assets of the ESM shall, wherever located and by whomsoever held, be immune from search, requisition, confiscation, expropriation or any other form of seizure, taking or foreclosure by executive, judicial, administrative or legislative action

para 8: To the extent necessary to carry out the activities provided for in this Treaty, all property, funding and assets of the ESM shall be free from restrictions, regulations, controls and moratoria of any nature

Article 35, para 1:  In the interest of the ESM, the Chairperson of the Board of Governors, Governors, alternate Governors, Directors, alternate Directors, as well as the Managing Director and other staff members shall be immune from legal proceedings with respect to acts performed by them in their official capacity and shall enjoy inviolability in respect of their official papers and documents.

There are other worms in this charity tin, but trust me, these two articles are the ones that ensure it really isn’t the standard contract, and if I Mario Draghi deems it in the public good to stuff 46,000 gold bars in a Gnome’s private bank, it’s none of your business.

But there is one astonishing phrase in there which I feel duty bound to lift and separate from even this stuff above:

The archives of the ESM and all documents belonging to the ESM or held by it, shall be inviolable. The premises of the ESM shall be inviolable.’

The International Law Society definition of ‘inviolable’ is ‘unassailable and impregnable’. Or in one word, untouchable. Or an yet another word, supreme.

Or in a final word, Sovereign.

You have been warned.

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