Greek Referendum Will Not Be Stopped

By Greg Hunter’s

The Prime Minister of Greece, George Papandreou, has called off a vote by the people of his country on whether to accept a 130 billion euro bailout and stay in the EU.  Earlier this week, the Prime Minister thought that would be a good idea and, today, not such a good idea.  People there are asking for his resignation.  There is talk that the Greek government could collapse.  Meanwhile, the G20 meeting in the South of France at Cannes is consumed by the EU debt crisis.  World leaders are looking for ways to stop a domino-like financial collapse.

Watching the coverage today, Wall Street wonks were actually giddy that democracy was stifled and a vote by the people of Greece was stopped.  I heard one weasel on financial TV say a vote by the people of Greece was a “crazy idea.”  Yes, democracy is a crazy idea when you want to sign up entire countries as debt slaves for a generation or two.

Of course, if the Greeks take the bailout deal, they will be saddled with debt and austerity (cut backs) for who knows how long.  On the other hand, if Greece just defaults, they will still have the austerity, but the debt will be gone.  Yes, it would be chaotic and difficult, but the moment they are relieved of their debt burden is the moment the country can actually begin to recover.  Look at Iceland–they told the bankers to shove it, and they are already recovering.  Don’t look for the MSM to do stories on Iceland’s recovery.  It will continue to push the story of how the bailout deal is the best for everyone involved.  You don’t have to be a rocket scientist to figure out a bailout for Greece is mainly good for the bankers who want to get taxpayers to pay for their mistakes.

You cannot tell millions of Greeks there will be a vote on a massive debt deal and then say just kidding, not going to happen.  You can’t put that genie back in the bottle.  I predict there will be a vote by the Greek people one way or another.  It will be a nice, neat nationwide referendum or protests in the streets.  In some way, the people will vote on the bailout or, better put, the debt slave package the bankers want them to take.

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  1. Denarius

    The People will always have the option of voting
    with ballots or with bullets. The ruling elite will
    either allow the former or deserve the latter.
    “Plus ça change, plus c’est la même chose.”

  2. Frank Rizzo

    I wonder if there was some threats thrown at the Greek PM or possibly a briefcase of cash offered to have him change his mind on the vote.

    • Greg

      Something changed his mind.

    • Alex

      Frank, nothing changed his mind. He was never serious in the first place, this referendum announcement was a charade for some domestic and foreign policy leverage. Which politician nowadays gives a damn what people want? No such animal.

    • MasterLuke

      I’d bet he recieved a threat.

  3. Jan

    The Prime Minister told the people they could vote on the deal. The Greeks want to vote on the deal. He can’t get way with saying “just kidding” on that vote thing. The people will see him as a sell out to the banks at their expense. I believe he will be overthrown in short order, then all hell will break loose.

  4. Kevin

    Hear, hear! Bankster bailout…er…the Greece bailout deal or self determination and road to recovery…? Let the dominoes fall, let the liquidation begin, let the banks take their share of austerity, let the recovery commence, and let the central money skimmers move on to a cold dungeon cell or legitimate business transactions (cough). Yes, the pain will be felt–bear the brunt now–or be prepared for ongoing and growing economic depredations and continued debt-slave servitude.

    A bit overly dramatic? …my frustrated apologies.

    Thanks Greg. A concise and truthful statement on the current Euro situation. Will send to all contacts.

    • Greg

      Thank you Kevin.

  5. George

    One Greek economist said that with just the current austerity measures and no interest payments their government would have a 1.5% surplus. OR they can go with the bail out and still owe 120% of GDP in 10 years… you said, rocket science this aint

    • Greg

      Great point, thank you for making it here!! It would be bad for year or two but they would come out of it much faster. Just look at Iceland.

  6. Hoppe

    Here is a good example of what is wrong with a “democracy” vs. a republic. Not that I like for one instant how the representatives are indenturing the people to the banksters… but remember the axiom from the unknown author;

    “A democracy cannot stand, because the majority will vote themselves funds from the public trust”.

    I am beginning to think the Greeks don’t have the stones to do what the Icelanders did. For certain, the Central Bankers don’t want this kind of thing to become popular.

  7. Art Barnes

    “I predict there will be a vote by the Greek people one way or another.”, yea, good prediction and the “other” way is more classes with the elite of their country. I predict that someday soon this country will vote on whether or not the bankters and the crimestreet
    elite will continue to slave its people over here.

  8. Sean

    At this point the greek bailout effort has boilied down to a confidence game regarding the future of the entire EU central banking fiasco. Not that the entire thing hasn’t been a confidence game since inception but today it’s officially on the table – a Greek rejection of a bailout plan establishes a formal precedent in rejecting the economic integration of Europe.

    My “hindsight is 20:20” analysis is that the globalists have played their hand too early in Europe. European economies and cultures are not yet fully integrated – or trusting enough – to an extent that is required to support this level of economic interdependence. That word – interdependence – is key to this entire debacle. So far, the EU experiment has hinged upon agreements and partially approved / partial concensus that has yet to be unanimously approved within a formal Constitution or policy mandate. A central ECB monetary system has forced some of that concensus, however, none iof it is sealed in blood like it will be after a formal Greek acceptance of a bailout.

    Therefore, as others have astutely commented, the Greek bailout is a Rubicon moment for all of Europe on several major levels. It’s not just a precedence setter in terms of overall commitment to EU success – it’s an opportunity to transform the economic model from cooperation to interdependency. It’s the difference between two fighters squaring off face-to-face vs. one fighter having the drop on another fighter as a means to control the outcome.

    My ‘guesstimate’ is that Greek Prime Minister Papandreou was backed into a corner with some viable threats before he publicly reversed his decision on a referendum. This was the push that comes before the shove. If I were at the shared helm of a globalist effort to proliferate regional central banking systems (like the ECB), I wouldn’t afford Greece the opportunity to reject my model that I would like to duplicate in other regions. From a risk perspective, rejection of my model could set me back one or more decades. I’d rather risk some serious shoving – even if it means dragging the entire European community into facing an external threat as a means to promote regional unity – prior to an EU collapse that’s driven by economic misalignment. In that scenario I’m probably profitting anyways because I’m financing a military effort, while shelving economic differences while building existential security-based interdependenciaes and loyalties.

    This is a worst case scenarion so I’m probably way out there, however, I do believe that we’ve reached a major turning point in the plans for global economies, that the stage is set for a broader showdown between military powers, and that the PTB (powers that be) won’t pull any punches as they recognize and mitigate threats to their long term objectives.

  9. AndyB

    God forbid the residents of the “cradle of democracy” should have a say in their future; it has become increasingly obvious that the idea of representative government is an anachronism. Germany will be the next test. Will the German people vote yes for the bailouts which will automatically make them debt slaves for decades, or will they take the Icelandic route?

    How soon will the ultimate in fascistic control (the internet kill switch) be implemented?

  10. dejayajay

    The banks who lent all this money to Greece in the first place obviously didn’t do their ‘due diligence’ work, and now due to this bad investment, they deserve to suffer through a painful but necessary lesson. So … bring on the referendum.

  11. John

    Ain’t that some s__t! The birth place of modern democracy has decided to jump on the side of fascism. The corporate state we are experiencing here in American is not far behind Greece in falling over dead. Hopefully in America enough of the Sheeple have awaken enough to demand that America keep it’s sovereignty. In American, we must let the banks fail as well. The bankers have got to accept that there is no such thing as perpetual growth and they have to take their losses, just like the rest of us. We have to end The private FED and as a people begin the tedious process of rebuilding our democracy from the ground up and realizing that as part of this rebuild, the Democrats and Republicans aren’t allowed along for the ride.

    Here is a great quote from Justice John Paul Stevens:

    “Corporations have no consciences, no beliefs, no feelings, no thoughts, no desires,” wrote Stevens. “Corporations help structure and facilitate the activities of human beings, to be sure, and their ‘personhood’ often serves as a useful legal fiction. But they are not themselves members of ‘We the People’ by whom and for whom our Constitution was established.”

    • Greg

      It is ironic and very sad but it’s not over just yet. Greece will still default.

      • Tony

        Will the Greeks vote for the austerity? I would think they would do the right thing for their country.
        Yes or No ?

        • Greg

          I think the Greeks will default and still have the austerity. If they do not default they will be a debt slave for a generation or two and still have the crushing debt load. Default and austerity is a much better deal than no default and austerity.

  12. smlaing

    If you look into history you’ll find the real reason why the fascist corporate elites must maintain the status quo regardless of the cost.

    It is because if the’re model is overthrown or the populous revolt at critical mass levels, they will end up being executed.

  13. Owlishious

    “I predict there will be a vote by the Greek people one way or another.”

    Well, you’d be wrong. The closest they will come to that is if Papandreou steps down, they must hold elections very soon- in a matter of weeks. But that vote is for members of parliament, not on the EU referendum.

    In other words, even if they get the vote, it won’t be a vote on the right thing. Dropping EU membership is simply not on the table. Because even if you favor getting Greece out of the EU, there is simply no one in the Greek political system to vote for. None of them will vote to leave.

    Populist anger and “teh will of The People” will bow to political reality.

  14. Tim Kelly

    Hi Greg,
    I did write to the Greek embassy and suggest they leave the EU, create state bank, place laws requiring 100% holdings for private banks, grow hemp and get prosperous by multi use of hemp and carbon trade offs from the oxygen balance created. Not sure of their terrain for the latter, but any country that does it will prosper, or at least survive internally with such a good food/material/fuel crop..highest yielding cash crop in existence…8) Don’t think they took me seriously though and never replied…Tim §

    • Greg

      Thank you Tim for sharing your suggestion and story.

  15. Andrew

    Papandreou is a both a coward an a traitor.

  16. richard wilson

    Greg, you write, “Look at Iceland–they told the bankers to shove it, and they are already recovering.”

    Whoa! If only that were true! Iceland’s government held two different referendums in which Iceland’s masses voted “NO BAILOUT” both times.

    So Iceland’s government ignored the referendums, suspended the constitution, and dumped the debt on the masses anyway.

    Iceland is in a severe depression, and thousands of people are leaving to look for jobs in Norway and elsewhere. It’s Latvia redux.

    Or how about this gem: Iceland’s labor unions had put much of their money into the financial sector. When Iceland’s masses voted not to go into debt slavery, the unions still wanted the masses to pay them, so the unions passed a law indexing all debts (including sovereign debts) to the consumer price index. Since this law violated Iceland’s constitution, the government suspended the constitution. When Iceland’s banks collapsed, so did Iceland’s currency, which caused the price of imports to shoot up, along with the consumer price index, and the debt that Iceland’s masses must pay. Thus, Iceland’s peasants must pay much more than the actual debt the bankers and labor unions claim they are owed. And, because of this, vulture speculators that bought Icesave-based bonds at ten cents on the dollar will not only collect full original value of the bonds, but two or three times their value.

    Note that if Greece had actually held a referendum, and it didn’t go the way the bankers and their puppet politicians wanted, then the Greek government would have done like Iceland’s government: just ignore the referendum and suspend the constitution.

    The public masses must pay the private speculators, no matter what. Welcome to absolute creditor sovereignty.

    The solution to all of this is to restore State (i.e. public) sovereignty over the money and central bank. That is, take back the money power from private bankers. This is the only solution that will really work, and the only solution that everybody avoids looking at.

    We could have a “global debt jubilee,” but if we leave private bankers in control of the money, then we’d almost immediately be back to square one.

    Here’s a quote attributed to Josiah Stamp…

    “Banking was conceived in iniquity and born in sin. Bankers own the earth. Take everything away from them, but leave private bankers the power to create money, and with the flick of the pen they will create enough deposits to buy it all back again. However, take away from private bankers the power to create money, and all the great fortunes like mine will disappear — and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, then let them continue to create money.”

    • Greg

      First of all I think you are very smart and a gifted writer. Your analysis is mostly spot on. I do disagree with your analysis of Iceland. This is an article from yesterday called “Lesson from Iceland’s 2008 Financial Crisis: Let Banks Fail.” It is by the New American. It backs up my Icelandic premise. Here is the link: This is just about the only point I disagree with you on. I love your comments and please do not take this as an attack. Please keep commenting on this site because I think your point of view is very important and on-target. By the way can you use a different picture instead of Hitler. You are so NOT like him. My I suggest a photo of Mr. Stamp or your own face?

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