Bankers vs. People

By Greg Hunter’s

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! 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 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  (Click here for more from

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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  1. Ross

    The best article you have written, bar none.

    • Greg

      Randy Dandy,
      Interesting and I think a valid point on Greece!!

  2. Sam

    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.

    • Greg

      I hope you make a ton of cash my friend. Thank you for adding your perspective to this post.

    • reader

      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…

  3. George

    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