Bankers vs. People
By Greg Hunter’s USAWatchdog.com
The entire crisis in Greece (and the rest of the world) all comes down to bankers vs. the people. The bankers made crazy, reckless loans to this tiny country. If you look back to when the loans were first offered, it’s hard to believe the banks did not know what they were doing. Did they not know that most people in Greece did not pay taxes? Did they not know many retired at 50 years old? Did they not know about all the government social programs? After all, Greece has a socialist government for goodness sakes.
What is going on in Greece is similar to the subprime loan crisis. Here, people just stopped paying and walked away when the market crashed. In Greece, the bankers want to turn people into debt slaves for a generation to get their money back. Heaven forbid any banker writes off the debt and not take a bonus. David Stockman, who was Director of the Office of Management and Budget in the Reagan Administration, said last week on CNBC that Europeans are going to become tax and debt slaves to continue to pay bankers. The report said, “In Europe, Stockman raged against a dichotomy of tax and debt slavery created by the EU: “They’re attempting to go turn the prudent Europeans of the north into permanent tax slaves in order to bail out the big banks in France and Germany and elsewhere who don’t deserve a bailout,” he said, adding that, “In order to accomplish that, they will attempt to turn the millions of people who live in southern Europe into permanent debt slaves in order to pay the piper from the guarantees coming from the north.” (Click here for the complete CNBC report.)
There is no wonder why protests in Greece turned violent yesterday. Tear gas was used by police, vehicles were set on fire and windows were broken. The Greek Parliament has key votes on an austerity plan (entitlement cuts and tax increases) coming up this week. The plan has to pass or the EU will not release any more money. So, on one side, you have the angry protesters, and on the other side, you have the EU (or greedy bankers.) The heat is on! Breitbart.com reported yesterday, “Europe ramped up pressure on the Greek parliament Tuesday to approve drastic austerity measures, warning that it would otherwise face a swift debt default that would rock the world economy. . . . European Union economic affairs commissioner Olli Rehn said Greece was facing a “critical juncture,” and that “both the future of the country and financial stability in Europe are at stake. . . . The only way to avoid immediate default is for Parliament to endorse the revised economic programme.” (Click here for the complete Breitbart.com story.)
According to published reports, there is no “plan B” if the austerity plan doesn’t pass. We just may find out if that is true. I’ll bet the EU is putting the pressure on with the talk highlighting calamity and Armageddon if it fails. If it passes, expect there to be uncontrolled riots, and the Greek military to be called in. There are rumors that the Greek military could stage some sort of coup because some military leaders have reportedly said, “We Will Not Be Sold to Foreign Powers.” I do not know if this is true, but the source of the story is Pecangroup.org. (Click here for more from Pecangroup.org.)
Don’t be surprised if the austerity votes reject the plan, and don’t be surprised if there really is a “plan B.” If there is no backup plan and the vote fails, then expect all hell to break loose on a global scale.
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
The best article you have written, bar none.
Randy Dandy,
Interesting and I think a valid point on Greece!!
Greg
Dear Greg,
Should Greece go, I don’t think that anything major will happen, YET. Many will shrug off Greece, for after all, Greece is “a little country.”
But, Greece has been the proverbial “canary in the mine.” Bankers are allowed to ignore all sorts of rules and get away with it. The Greeks don’t like seeing their socialist comforts stripped away, and so they are doing what Gerald Celente always says: “When you lose everything, and you have nothing to lose, you lose it.”
This country is experiencing large amounts of lawlessness here, partly because of the angst over dwindling jobs, but also because BHO breaks every law and ignores the Constitution, leading many to believe that, “If he can do it, so can I!” Coupled with that is the rising fear that people will probably lose all that they’ve worked for, as well as baby boomers “retiring.” With a high unemployment rate amongst the youth (some say 25%), as well as many older workers who are barred from re-entry, and we do have a volatile mix here.
But, one should not lose heart. There are businesses that, because of all the fear, are doing well, and I’m not talking about bankers here. Locksmiths (for securing doors), sporting goods stores (firearms, ammunition, gun cleaning supplies, freeze-dried foods), coin dealers, purveyors of emergency foods, booksellers (books on survivalist living), even AGI (American Gunsmithing Institute, producer of gunsmithing courses on DVDs) – all are doing quite well. Unfortunately, almost all are closed to investors (except for Amazon, SturmRuger, and Smith & Wesson).
Yes, we WILL see trouble here soon in River City, sooner than we think. But as an optimist, I see this as a way of making a bit of cash before the ultimate collapse comes.
Sam,
I hope you make a ton of cash my friend. Thank you for adding your perspective to this post.
Greg
Too many folks are expecting an “ultimate collapse.” That tells me its not going to happen like its being called.
Expecting an economic curve ball…
Hi Greg, I am not sure that we should be surprised that the Greek Gov’t is selling its people into debt slavery for the next few generations. Isn’t that what the whiz kids in Washington are doing to us?
Great Article. Keep up the good work and hope you are well
Thank you George!!
Greg
For reasons not stated here and now, I took it upon myself to “pull” copies of publicly registered loan documents from The Land Title Office between Canadian Banks & Bankers; between Canadian Banks & Bankers family members; between Canadian Banks and Lawyers [Attorneys]; between Canadian Banks and Politicians and between Canadian Banks and Bankers “friends”. The registered facts prove these people receive “Sweetheart” Bank loans – zero interest and zero principal payments as well as having their “Sweetheart” Bank loans “written off” as an uncollectible Small Business Loan. These lending practices exist, I am convinced, all over the world.
Banks worldwide have the exclusive privilege to leverage deposits [10:1; 15:1 etc etc] and therefore have the exclusive privilege to literally create Bank Loans out of “thin air”.
What a powerful, powerful tool Bankers have at their disposal. I suggest citizens everywhere start “pulling” Bank Loan documents from Government Registry Offices [ Land Title Office etc etc] and see and understand the truth from documented facts.
We have allowed the Banks and Bankers to establish a privileged Social Class with no end in sight.
Mike,
You are so correct!!!
Greg
Dear Mike,I’m wondering how can I“pull” copies of publicly registered loan documents from The Land Title Office between Canadian Banks & Bankers; between Canadian Banks & Bankers family members; between Canadian Banks and Lawyers [Attorneys]; between Canadian Banks and Politicians and between Canadian Banks and Bankers “friends”.
I’m really intrigued by your findings,thank you very much.
Well, it looks like the Greek MP’s voted for the bankers. It’s almost unbelievable.
So, now what?
At some point, something has to give. The only thing I can think of is that the world will wake up & crash these bankers by either demanding higher interest rates or by moving their money into PM’s and other commodities. Then, what will the politicians do?
What is the end result of all of this? It’s no longer making sense. Europe and America can’t keep printing endlessly.
Greg:
Everyone is comparing Greece to Argentina. Are they same? What’s different this time around?
“If there is no backup plan and the vote fails, then expect all hell to break loose on a global scale.”
What form of hell can we expect to break loose on a global scale? Will the US not be able to import olives any more? Will I have to start growing a garden? I just don’t get how Greece’s default will effect me personally. I’m being serious here and would really like to know more about how Greece’s default will affect me.
BTW, I fully understand now why my grandparents never trusted banks and other financial institutions. They really are crooks.
Fluffy,
Over-the-Counter (OTC) Derivatives. There are $600 trillion (some say more than $1,000 trillion) floating around in the world and the Greek debt is tied to them. It could cause a daisy chain of default. That is the short answer.
Greg
Where we are today,(in the macro sense) is at the end of the line of over 2000yrs of the moneychangers honing their craft. They will not stop their looting and plundering voluntarily. Push is coming to shove fairly soon. You can bank on it. Pun intended
Greg,
It’s around 8:00 am PST and a NYTimes alert just came through stating the Greek parliament just passed the austerity measures legislation. Quote of excerpt:
“Greece’s Parliament on Wednesday voted in favor of an austerity plan demanded by the country’s foreign lenders before they would provide it with a financial rescue package and avert a debt crisis that could have shaken its European neighbors and economies throughout the world.
The austerity steps, which include wage cuts, tax increases and privatizations in a recession-starved country, were required to unlock the next installment of aid that the country needs to avoid default on its debts.”
http://www.nytimes.com/2011/06/30/world/europe/30greece.html?_r=1&hp
🙂 Diane
It is sad to see these things happening, and unfortunately we will be seeing more of it. There may very well come a day when we see it in our country if things don’t change.
Great article Greg,
If the people would only take the time to educate themselves to the roots and history of money. They would find that history has repeated itself many times. This of course is a time that is not good, again. The international bankers (also called “Money Changers, and Goldsmiths in the past)have once again gotten away with cheating the people out of their wealth. As Greg has pointed out, with a system called fractional reserve banking. Thanks in part to a so called economist named Maynard Keynes. Since the Federal Reserve Act of 1913, (Morgan & Rockefeller etc.) it has been bleeding our country dry for almost a 100 years. Most of the world also uses this system that creates never ending debt and resulting inflation and misery. (Iceland has taken it’s first steps out of it though.) Under this Act of 1913 it had given the bankers the right to print money at interest. Example: The Federal Reserve Bank prints a dollar and loans it to their respective banks. The banks in turn agree to pay back the FED the dollar plus 6% interest on it. ($1.06)The banks also get the right to loan out another ten dollars that they do not really have and add another 6% interest to the people, companies, or our government! For a $1.06 they actually get $11.66 to loan out! Yes they get to make loans and interest on money they do not have, that has been created out of thin air. It is insulting at best. Yeah that’s why the bankers are rich, the have legalized counterfeiting on their command. It is sick. I learned Keynesian Economics in college. They do not teach a debt free money system. Brainwashing garbage I say.
We need to reinstate a monetary reform policy that is a “Debt Free Money System. 1. Stop the ability of the government to borrow money. 2. Incorporate the Federal Reserve Bank back in to the Treasury Department, and out of the private banks 3. Stop fractional reserve banking and lending. This way the government would only print and spend the money needed to keep the economy moving and growing at a sustainable rate. The government would spend the money in to the economy on as an example, an infrastructure project. Many private sector companies would do the work and We The People would once again prosper and keep their wealth. Banks could still loan money, but they could only loan money they have. They would still compete for you business with other banks. The government would keep the amount of currency circulating in the economy that would keep things steadily moving along. A government that actually worked for the benefit of the people. It worked for us during pre-revolutionary times in the U.S. colonies. Ben Franklin put out a debt free currency called “Colonial Scrip”. Our country prospered under a “Debt Free Money System.” Hey it worked for King Henry (Magna Carta)when he created the “Charter of Liberties” and the British renaissance followed. The country and the people prospered. It also worked for the early Roman Empire beginning in 100 AD. Rome fell in 401 Ad because they had signed their death warrant by returning to a gold standard that was easily manipulated by the Money Changers. So history has repeated itself once again today. We let the cheating bankers get control of the money. Are we on our way back to slavery and serfdom? I think we are waking up. Thanks again Greg, your articles inspire me greatly to keep up the fight against the corrupt monetary system.
Further to my earlier comments I would like to add that during the “dark” ages, the Middle Ages if you will over in Europe and the United Kingdom the Nobility ruled with an iron fist. Well, who were the Nobility ? They were the Land Lords. The peasants worked and toiled in the fields from morning until night – giving the Land Lords their due. The peasants had Duties and Obligations to serve the Land Lords. The Land Lords had all the Rights and, of course, all the privileges.
Today, we have a new breed of Nobility. They are the Bankers – or the Loan Lords if you will. Our Loan Lords dispense their bank loans on Terms and Conditions they control. In Canada, and I am sure in most countries as well, elected Governments have no control over a Bank’s Lending Practices. Banks can Lend to whoever they want and on the Terms and Conditions they dictate.
Has anyone ot there in the “free” world ever hear of a Banker’s home, or an Attorney’s home, or a Politician’s home being foreclosed on because the Bank Loan had been defaulted on ? How can a Bank Loan be defaulted on if the Bank Loan is structured so that interest payments are zero, principle payments are zero and Bank Loans Loans are e “written off” simply as an uncollectible Small Business Loan.
Small Business Loans by Banks to Small Businesses usually are “secured” by the Lending Institution demanding [in exchange for a Small Business Loan to a Small Business] that a Lien be registered against the Small Business operator. So, how can a Bank lose? Banks and Bankers “secure” their Bank Loans to Small Business operators. If the business fails, the Bank takes possession of the Small Businessman’s home and property. No loss. The Banks cannot lose, can they.
Therefore, WHAT Bank Loans are being “written off”. The registered documented facts give the answer. It’s really quite simple to understand. Just obtain the facts and the story is crystal clear for all to see.
The Greek people have turned to the black market for goods, services and trade. Their Black Market will become bigger than their economy. Expect their tax revenues to collapse. Martial Law is iminent. I expect Greece to mirror the Argentine collapse with in 3 months.
I honestly think the “bankers” are betting the farm on the possibility that after a few isolated albeit severe temper tantrums the worlds worker drones will run out of steam and go back to paying their bills with whatever new fresh look the bankers need to put on the same old tired currency.
I guess my question is what have they done to ensure we get tired and go back to their mill, and how far are they willing to go to force us to submit if for some odd reason we don’t lay down and play dead for the same stale bankie treats?
……..Or is it the end is in sight for them, whatever that means, and we have already, in a proverbial sense, built their bunkers and stocked their shelves so they can wwithdraw from whatever they see coming and leave us out to pound sand? If thats the case I do not envy them at all.
Dear Greg : Something occurred to me while reading your article…what if all the governments in the world allowed the banks to fail, we’d be out of their debt…..hmmmmmm? Ken
Ken,
That is a beautiful thought.
Greg
Great article Greg. Essentially there is no long-term plan from my vantage point. Considering Greece has a debt-to-GDP ratio above 150% the near-term scenario is checkmate, advantage bankers. Sometime in the not too distant future a day of global reckoning is coming and I’m certainly not looking forward to it.
Not Long after Barak Obama’s election Newsweek magazine emblazoned its cover with the open declaration “We’re All Socialists Now.” What they meant of course was that the election had put us firmly and irrevocably on the path to European Socialism in America and that the capitalist system as we had known it was dead and buried.
It seems however that intervening events have raised some question about that irrevocable course. The administrations right from the start crawling in bed with the very forces that brought us to the brink of disaster in 2008 and its unwillingness and/or inability to delineate never mind address the problems that created the disaster. This policy of embracing the status quo and extend and pretend had almost immediate repercussions on the political front. If the President doesn’t like this reversal of fortune or the Tea Party, maybe he should look in the mirror. Both action and inaction have consequences; it’s a beast of his own making.
Any questions about European Socialism aside I have to agree with Newsweek on one thing, capitalism as we once knew it is dead. It has been replaced with a system of crony capitalism, the government and corporate partnership, a neo-fascism or more succinctly; a kleptocracy. This is the Rosemary’s Baby born of decades of deregulation and the revolving door between the Treasury Department and the banks, particularly the Federal Reserve Bank and the Wall Street investment banks like Goldman Sachs, J.P. Morgan, HSBC and others. We now live in a system where the insiders prosper greatly and divide their pocket change between the politicians they buy through campaign contributions and the growing legions of government employees how reap salaries and benefits far beyond anything the working and taxpaying public could ever hope to earn in the private sector.
The inevitable result of what the United States has become in the macrocosm we can see being played out in microcosm in Greece. (And soon Spain and the rest of the PIIGS.) These 1/10 of 1%ers have leached off the wealth of the nation through insider corruption, embezzlement and outright fraud. They have done so with virtual impunity as its their fellow kleptocrats who hold the civil and financial reins of authority.
They have taken their profits from the creation of massive piles of debt based money knowing full well that the as long as they maintained control the loans would never be paid off. With each passing year the lender of last resort, the Federal Reserve, and the spender of last resort, the Federal government must create more debt and interest payment in excess of what was created in the previous year or deflation sets in. So make no mistake, whether it’s called QE3 or some euphemism for it, more money will be printed at an ever accelerating pace. On one end the profit statements of the FEDs primary dealers will continue to grow, the annual bonuses will be paid, and on the other end real unemployment will rise, wages will stagnate, real estate values, and home sales will continue to fall. The middle class, the self-reliant and privately employed worker, the small businesses of this world are being wiped out, and by design, to be replaced with the welfare recipient, the unionized government employee and a new Walmart on every block.
If you want to know what will happen in Congress as the day of reckoning draws closer on a debt ceiling vote, cast your eyes to Greece. Just as our banksters and politicians are desperate to maintain the illusion of American capitalism and reserve currency status, the Europeans are desperate to maintain the façade of the Euro and European unity around it. The Parliament in Athens has passed a new “austerity plan” in exchange for a new infusion of Euros. Nobody really things that this plan will actually be put in place or that any of the fiscal targets will be met. The government will delay and put every obstacle in place to prevent privatization. Meanwhile the same government and financial elites will skim off a fat share of the proffered cash, nothing will change and there will be talk of bailout round 3 (or is it 4, I lost count) before winter sets in.
It should be no surprise then that the populations are showing up in the streets. Between 30% and 40% of workers hold government jobs, at the national, provincial or local level. For decades they have selfishly bought into the false promise of ever expanding wages and benefits paid at the public’s expense. They have been played for suckers and now, to paraphrase Margret Thatcher socialism has run out of other people’s money. Well at least other Greek’s money. The game now is to keep playing with other European’s and American’s money.
Take a look at this picture. (available on my blog page.) Just last week this fat pig, I’m sorry there is no more fitting term, Greece’s Deputy Prime Minister issued a warning that if the austerity plan was not passed there would be tanks in the streets. It sounds like he is channeling Hank Paulson’s desperate pleading for the TARP package.
I could think of no better caption than “Austerity for thee, but not for me.”
These elites, these politicians and bankers are but 1/10 of 1% of the population, if that. They are busily engaged in selling us the fraud that the other 99.9% of us must sacrifice ourselves for their survival. Whether we buy it, and if we do, for how long, remains to be seen. As I write this the Finance Ministry building in downtown Athens is ablaze. Do we really want Syntagma Square in Athens to be coming to a town near you? If we don’t send the clear message to our politicians in the next elections that the game has to stop, the banks have to be broken up and the corrupt must be tried, convicted and jailed (can you hear me Ben Bernanke, and Lloyd Blankfein, and tax cheat Tim?) then our last chance for a peaceful resolution may well be gone and the beginnings of George Orwell’s “jackboot stomping on a human face forever” in his novel “1984” may well be upon us.
Bingo!
Terrific comment, I believe we are doomed to the same fate as the PIIGS, What change? What Hope? No difference between the parties yet unfortunately, not enough Amerikans have figured out how the scam works. Miracles can happen and this mess can be turned around, only a small percentage of people were responsible for the first revolution here but that was before lock-down technology; perhaps it was allowed to happen as part of the long term “plan.”
Greek democracy seems to be just like American democracy where the politicians are property of the banker establishment. The same corruption in Greece is the same as to how the FED and banksters are tying the American taxpayer into the same debt system as the EU is installing in Greece.
The worlds greatest ponzi continues …
The austerity plan will pass the vote. Nevertheless, Greece will still default. Just not right now but in 3-5 years.
“3-5 yrs”.
More like 3-5 MONTHS.
The Euros are desperately trying to keep the Eurozone from collapsing, while in America the FED is buying perhaps 90% of all new Treasury debt being issued.
Even the American sheeple are starting to figure out that just maybe their goobermint is lying to them about everything, including GDP, CPI, & unemployment.
The inexorable Law of Exponents is about to ramp this mess to Warp Factor Nine.
The global financial system is even more fragile than it was in 2008
before the Great Crisis.
Greece needs tourism now more than ever, but it’s unintentionally doing everything possible to kill the tourist trade. Even if it gets this new tranche of Euros, it will burn through that pile even faster than the last one.
Excellent analysis Greg. Perhaps we should get a bumper sticker that reads:
BANKERS DO IT WITH INTEREST
How? How could we have ever let this happen? Did no one but Thomas Jefferson ever understand what would inevitably happen, if we gave the bankers the power to create our money? At this point our only recourse, the only way out for us, the people, is default. I don’t see why that is such a bad thing, it’s really only bad for them, & I can think of no reason why I or we for that matter should care the slightest what happens to them, or their money. Which by the way, they created out of nothing, it’s not as if they worked for it. So go ahead do it! Default, don’t pay your mortage, quit making your minimal amount payment’s on your credit card, default, and let the chips fall where they may!
We’re WAY past the point of being able to avoid default; it’s just a question of WHEN. The longer we wait, the worse it’ll be.
The banksters are counting on all of us continuing to pay our debts until the whole mess collapses, then they (and the Chinese?) can swoop in to buy everything DIRT CHEAP (or maybe just repo it).
It’s a “win-win” for them, and a “lose-lose” for everyone else.
You’re right Monnie.
I believe the U.S. is one of the few countries that sell land to foreign citizens or interests. (Try buying any fixed asset in Mexico without being a citizen of Mexico.) Elizabeth Taylor owns fixed assets in Mexico because she enjoys dual citizenship. I believe one person can only be true to one country and therefore be it’s citizen. Now doesn’t it make sense that if the U.S. defaults, it is subject to forclosures by foreign investors? Is this the reason for those trying to make us subject to the world court? As for the too big to fail bit, bankruptcy is a great solution. My favorite saying is: “I wrote to Obama asking for a bailout”. “He wrote back that I wasn’t rich enough.” Also, END THE FED!!!
The Founders also understood the principle of moral hazard.
As a society begins to collapse, its producer pillars (business owners, honest workers, those who love their country and wouldn’t think of avoiding or evading taxes or accepting welfare) begin to see the futility of trying to maintain standards.
This “every man for himself” phenomenon happened in Germany in the 1920s and had much to do with Hitler’s rise to power.
They did it to every economy they’ve ever been allowed to have a hand in. They’ve been doing it for thousands of years. Thomas Jefferson and George Wahsington were both right. They’ve been kicked out of countless countries, and now they are back in power. We knew this would happen, we just chose to ignore it. They forgot one little thing….now the letters CEO and CFO have the word “criminal” attached to them. I cant hear the names Chase or BoA without thinking “get a rope!!!” Criminals can only run, they cant hide. The lehman bros started it all, and we are going to see to it that the rest of them suffer the same embarrassment and pulic shame. Thanks for the inspiration to be a better human being Greg! We are not like those people.
I keep wondering — What would happen if the Greeks just default on their loans and take care of their people rather than the bankers. I suppose no one would lend them money and they would have to live within their own means and over time could rebuild. – Here in the States, if we did that – we could support ourselves – food and such. Oil & manufacturing would be problems that would have to be solved but everyone would be employed and working towards self (national) sufficiency.
I just don’t see who (other than the wealthy) who would be worse off for just defaulting on all standing debt.
Problem is that would cause our foreign suppliers to stop accepting dollars in payment.
The idiot Progressives and radical environmentalists have prevented us from developing enough of our own oil, gas, and coal for energy.
What could we do? Auction off our infrastructure to pay for oil?
Once we default partially or totally (directly by repudiating some or all of our treasuries, or indirectly through massive inflation), and we are no longer a customer for Chinese-made goods, do you think the Chinese might decide to do something drastic? Many wars have been fought for lesser offenses.
The LEAST we should expect from China is that they will take Taiwan after asserting their right to control the South China Sea, and DARE us to do anything about it!
Hi Greg,
You’re dead on here. I have written some myself (in my recently created blog without readers:)) about the absurdity in lending more to a broke Greece just to make sure the banks can get their money. And why not put in some airports, buildings and islands in the mix while you’re at it?
Keep it up,
Johan
Greg, the middle class of Greece bought big boats & claimed them as Charter Ships to write off on as a expense for Tax purposes. John Kerry & many in congress find all sorts of loop holes to keep from paying taxes, what a scam they create for themselves when they can well afford to pay those taxes, but will not do so, you think the Greeks got this ideal to skip out on paying taxes from members of congress?!
On June 24,2011 Franklin Sanders spoke at a tea party event in Jackson,TN.,this should be read by all Americans! I wish I had been there to film it. Here is the link to the speech: http://farmersandfreeholders.org/2011/06/27/restoring-freedom-in-tennessee/. One point he made that sticks out,Three Freedoms Must Be Restored, With Out All Three None Will Work! The Jackson Sun is the local liberal news paper & I have yet to find any thing where they gave it any coverage,yet. It should have got national coverage just because of the fact that it was a Tea Party event in a city of 72,000 plus people located between Memphis & Nashville with I-40 running through it. That’s why it’s called the Hub City. If just one State does the right things & restores the Three Vital Freedoms that Mr. Sanders laid out, do you think others States will follow? Great stuff Greg!
Thank you M Smith for the link and comment!!
Greg
Greg,
There is a reason for what is happening with not only our economy, but the world. Call me a conspiracy theorist if you want but the bankers knew exactly what they were doing when the took control of US money and when they loaned to excessive amounts of money to other countries. Now they have the whole world owing them and IMHO … power … they plan on controlling the world. That … is the only logical answer. You don’t give money to people who can’t pay it back and not expect something in return. They already have generations of “slaves” and why should they give up that power and control? He who has the money, has the power.
Geo
Geo ,
Not so far fetched to me. Thank you for the comment.
Greg
The globalists (bankers and elitists) can not afford to let the EU fail. It was their first achievement in consolidating power and the biggest step so far for globalism, which is their plan. They want a world government and a world fiat currency they can control and manipulate at will. In order to achieve this they must crash the dollar before the Euro so they can force a North American Union and so forth across the globe. Isn’t it funny how the Federal Reserve bailed out so many European banks during the crash and hid this fact until court ordered to release the facts? If the EU fails then it will put globalism back 25 years. The globalists are also having big problems in the Middle East. No oil producing country dare think of selling oil in any currency other than dollars or they will be bombed and invaded immediately. Greece will be bailed out and forced into austerity whether the people like it or not. It is not their decision, it is the bankers decision like it or not. When they riot they will call in the military and blood will spill. Interesting note about the military leaders refusal to fight their own people for the foriegn banks, that is excellent if it is in fact true. We need that senario to happen here in the states too when the shit hits the fan here at some point. The elitsts are not going to let the EU come apart at any cost. The IMF and the economic hitmen have already done their work and Greece is staged for austerity and debt slavery for 25+ years. All public utilities will be privitized and wages will crash. Infrastructure and land will be traded for debt relief. This is the dream of the bankers and globalists to do this to every country in the world and control whatever resourses that are left in the world that are not already under their control. They want it all and if they need to squash Greece to get it then they will. These are sick, disturbed, ruthless, power hungry, sociopathic people we are dealing with. There will end up being a massive war unfortunately, I believe. I hope I am wrong but this is going to be quite interesting to say the least. Thanks Greg.
Thank you James M.
Greg
I see this in three easy phases. # 1. Default #2. Get clobbered by your own government with severe cuts and taxes.#3. Civil war. What happens after that is up to the imagination,but politicians hanging by ropes is my guess. I might as well include America while I’m at it because it seems congress doesn’t have the spine to defy Wall St.. I wonder where they are going to get their mercenaries to kill WE THE PEOPLE with though and what they will pay them with, since our money will be worthless. Maybe they will open the boarders and let the Chinese in to take care of business. I’m sorry,but as of late I’m soooo bitter and cynical. My family and friends,how many are going to live through this?
Robert,
You are correct, what is coming will be unlike anything that has come before.
Greg
You’re very right Greg.
The only thing that has delayed our grabby government is the second amendment. Remember, Hitler outlawed posession of guns on september 4th, 1934…and everyone lived happily ever after. I still think mid November will be the start of The Big Slide.
Vess:
Why won’t Greece just ask for another bailout in 3 or 5 years and thus, avoid a “default”/
Also, can someone explain to me why Greece is like Argentina? I’ve never been to Argentina, but a friend who went said that once you get out of Buenos Aires, it’s just slums, slums, slums…anyone been to either Greece or Argentina? Nothing like visiting a country to help you understand it.
“ In Greece, the bankers want to turn people into debt slaves for a generation to get their money back.”
This is not exactly true. In our fractional reserve monetary system, banks can create money out of thin air. With a $1,000 deposit, they can lend anywhere between $10,000 to $20,000, depending on their leverage ratio. The money the Bangsters lent to Greece never existed in the first place. It was created out of nothing through this fractional reserve system that allows banks to lend money they never had in the first place. This is the real scam and few people understand this. The bank cartel has the monopoly on the creation of money, which they can create out of a 10:1 or 20:1 leverage ratio. And they use that system to enslave tax payers around the world. This is the biggest fraud in the history of mankind.
Here are some excellent videos that explain how our privately owned fractional reserve monetary system works and who does it benefit. If you watch this video, you will understand that the real problem isn’t debt. The real problem is the monetary system that we live in. We need to reform this system. There is no reason why a private bank (the Federal Reserve) should own the right to create the US currency. The right to issue the currency should be given back to the people (in this case the US Treasury) and Banks should no longer be allowed to lend based on a fractional reserve system.
The Money Masters:
http://video.google.com/videoplay?docid=-515319560256183936#
Money as Debt:
http://www.youtube.com/watch?v=vVkFb26u9g8
Wake up call
http://www.youtube.com/watch?v=yT1GavDtiwM
I always thought that bankers along with Royalty Elite, who plunder countries, feed of the poor people and create so much pain for so many people are acting in a way a parasite would. Parasites feed of it’s hosts, perhaps mimicing it’s importance. I think that prosecuting, fining, jailing bankers and other elite scum is quite pointless. Legal punishment, regardless of its severity implies that the party receiving it is Human. Bankers and other elite scum do pass as human only by physical comparison of what human might look like. SO, there are only 2 things that we, as human beings, residents of this place called earth can do when encountering parasites. a: Study it, b: Destroy it. We should do to British royal family, Rothchilds and other manifestations of scum what Hitler did to jews. Gas, shoot, burn every one of them. Like Stalin said “no person no problem”
vess is correct, tho it won’t take 3-5 years.
diane should stop reading the NYtimes and get a real perspective.
The Bankers vs the People?? I suspect not really in the case of Greece Greg.
It is more like decades of corrupt, ineffective and incompetent socialist Politicians that have finally brought the country to its knees. Not to mention a culture with a life style which is much less than fully productive. Then you have an oversized, over paid, under worked, inefficient and bloated bureaucracy which makes doing business difficult. Just ask anyone who has tried establishing a sizeable business in Greece. And if you want an example of how not to run a Greek business then the demise of Olympic Airways, with its decades of union antics, makes a good study.
Then of course you have the typical bloated European welfare state with it’s culture of unaffordable(in the long run) social entitlements and an economy with a heavy and negative labour union influence, especially in the Greek public sector.
This is the Government that reportedly used Goldmans to help them hide elements of Government debt some years back. This is also a Government that cannot even raise sufficient in taxes to cover the very basic costs of running the State let alone pay back interest and principal on loans. In other words they are running a primary deficit. You can only live beyond your means for so long. Then the crunch comes.
Yes the banks, primarily but not only European, lent the public sector too much cash but at the end of the day only the Government is accountable for that fiscal mismanagement. No one forced them to borrow way beyond their means to ever repay in order to keep their Government largesse, bloated bureacracies, unaffordable life styles and work practices etc. running a while longer.
The party is over and now the man in the street, the unions and the socialist supporters do not like it. No surprises there.
We now find that Greece’s ruling Socialist party won Wednesday’s ballot by 155 votes to 138 for the required financial/fiscal reforms requested by the EU and IMF to qualify for the bailout funds. One wonders what the 138 “no” voters really expected would happen when, without outside financial support, basic State services in Greece cannot even continue to function for a lack of tax revenue. (It’s not over yet with a further vote on the new measures to be taken on Thursday).
So no – I do not really pin this one on the banks although some of their lending was less than prudent.
I think it was Margaret Thatcher who once said something like:
“ Socialism’s great – until you run out of money”.
There lies Greece today with a few other European States teetering in close vicinity.
Politicians can pass all the laws and measures they want, but implementing them is another story.
Retire at age 50 on 95% of final year’s pay: Nice way to run a country………..as long as you convince others to pay for it!!
Hi Greg,
To my little uneducated self, it is just math. How do folks think that they can live beyond their means forever? Retire at fifty with huge lifetime benefits. Free insurance and free everything. The cows are coming home ……… look out!
Moo Moo cowboy!! Thank you David!!
Greg
The Greek people are fighting against a Franco-German tide of financial feudalism perpetrated by incompetent bankers. Their government was complicit in the fraud. The similarity to our own 2007-9 financial meltdown is a lesson to learn. Here’s a related article by Barry Ritholtz.
http://www.ritholtz.com/blog/2011/06/first-blame-the-lenders/
Keep in mind that the bible tells us that Christ got angry and, yes violent, only once – when he threw the money changers out of the temple.
peace lol
Excellent article and great comments. I just read the link about Iceland telling the bankers to go pound sand. I was so hoping Ireland would tell bankers to take a hike too. They will in time.
The Greeks are the Greeks, an amazing warm loving people, but not overly fond of hard work. Theirs is a laid back culture where cheating the tax man is a way of life, learned down through the centuries. The EU & ECB could dump a pile of gold on top of Greece and they will not change the culture. Greece will default sooner than the banksters and pundits think they will.
Every nation need to press the re-set button and let the banks go down, take them over and restart the banking system in every country.
The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.
– Lord Acton, who stated that ‘power corrupts…’
Armstrong Economics, june 2011 article-Borrowing From the Rich
–“this is a battle between the investment bankers and the people–it is them or us–they have a vested interest in bankrupting society for their gain–julius caesar understood this–as did thomas jefferson–are we brain dead?”
in ‘On the Waterfront’ they couldnt get work unless they took a loan from the gangster’s banker, the loan shark.
in ‘Viva Zapata’ the situation was graphically stated when Zapata showed Madero that he could not get his watch back without the rifle…’without this… never’!
The Banksters, the elite, and the new forming invester class who are destroying the great middle class of our nation will be left with a government they don’t like in the end. Only a few of them will be on top and running the coming U.S. Banana Republic leaving the vast majority of them to want to join the people again around the camp fire. I, for one, will expose them for who they, so I warn them now (although they won’t hear) don’t come around my camp asking for shelter after destroying our country with your greed and coruption.
Excellent article. I frankly don’t know where the austerity programmes and propping up with more bailouts will continue but its stuff for everyone to think about, no doubt!
Btw – this totally reminds me of a new game i just spotted on iTunes: Bankers vs. Humans. Unbelievably weird! Links here if you care to check it out to break up a boring day! http://itunes.apple.com/gb/app/bankers-vs.-humans-hd/id514323529?mt=8