Critics are assailing the new European Central Bank boss Mario Draghi — an ex-Goldman Sachs chief and a regular attendee at secretive Bilderberg meetings — as he continues to buy up more government bonds with newly created money. But Draghi is merely one important figure in what is being called a wide-ranging banker “coup d’etat” in the European Union, according to analysts.
Draghi took over the ECB from Jean-Claude Trichet on November 1, becoming arguably the most important man in Europe — at least on the surface. He promptly called a press conference and lowered interest rates.
Perhaps more important, however, Draghi also reportedly decreased the central bank’s government bond purchases by almost half during his first week at the helm. The move almost certainly contributed to the soaring yields on Italian debt that forced Prime Minister Silvio Berlusconi to step down early this week.
With Berlusconi out of the way, the new unelected regime of Bilderberg and Trilateral Commission leader Mario Monti seized power in what critics referred to as an undemocratic “coup d‘etat” orchestrated by the European Union and powerful banking interests. Monti is also a key Goldman Sachs figure with a long track record of promoting the EU, more “integration,” and the power of banks inside and outside of government.
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Photo of Mario Draghi: AP Images