Catalonia agitating for independence from financially unstable Spain

Eric Garland Uncategorized Leave a Comment

As I have been covering lately, the nation-state system is showing all kinds of signs of reorganization, from the violence of tribal city-state regions like the country currently called “Libya” to peaceful but contentious places like the Eurozone. This week, a reported 1.5 million people descended into Barcelona to protest for Catalonian independence. And it’s really about the money. Barcelona and the province of Catalonia are economically strong, whereas the Spanish economy as a whole is in tatters, badly indebted, suffering from a deflating housing bubble, and producing few jobs for swelling generations of the young.

I have much more to come on this, but for the moment chew on the following concept: central banking may be at the center of this movement. When a few actors create economic empires based on debt, allow a few rentiers to dominate the system, and cause disintegration of local economies, the center cannot hold forever.

The moment is arriving.