Posts Tagged ‘bankers’


Bryan Gould: Greece may now be forced to leave the EU

2:10 PM Friday Jul 10, 2015

Like so many others, I long ago got used to being pilloried as “anti-European”.
My crime was daring to say that the “Europe” we were urged to sign up to was no such thing, but was a particular arrangement cooked up by the powerful and foisted on the people of that often benighted continent without bothering either to consult them or to take count of their wishes.
As the Greek crisis unfolds, and as it strips bare the pretensions of those powerful forces who talk with less and less conviction of the European ideal and of democratic rights, we can surely no longer be in any doubt.
The “Europe” in whose service so much sacrifice is now demanded is a cartel of bankers, financiers and right-wing politicians who have no interest in democracy, or jobs, or the living standards of ordinary people.
As the Greek people suffer, and plead “no more”, it is not the travails of the Greeks – or, for that matter, the Spanish, or the Portuguese, or the Italians – that weigh with Europe’s powerful; their sights are fixed on maintaining austerity and discipline, on adhering to ideology and doctrine.
Above all, they are determined to protect the euro, because it is the one weapon that ensures that there can be no backsliding. The euro was put in place so that, whatever temptations – or even imperatives – there may be, there can be no going back. The grim and unrelenting disciplines of neo-classical economics demand nothing less.
For many of us, this imposition of a single monetary policy and discipline on a hugely diverse European economy was always destined to fail. There was no way that small and underdeveloped economies like Greece could survive competition from a powerful German economy, especially when it was the Germans who had the power to decide on the monetary policy that should be put in place – and no prizes for guessing whose interests that policy turned out to serve.
The irony is that is those powerful interests – represented by the IMF, the European Central Bank, and the European Commission and obliged to follow the dictates of the German Finance Minister – who now find that, despite the disparity in power between them and a bankrupt and demoralised Greece, it is they – and not the supposedly feckless Greeks – who have the responsibility for saving the euro.
With the power of the referendum result behind him, Prime Minister Tsipras can now say that there is nothing more he can do. Ravaged by austerity, Greece has no resources left. Unless they are helped by a bail-out package that does not drive them deeper into collapse but instead gives them a chance, over time, to begin to grow again, they will be forced – since there is no other option – to leave the euro and seek their own salvation.
The Greeks have, in other words, taken their decision. There is nothing left for them to decide. The ball is now in the court of Europe’s leaders. It is nor fort them to give up entrenched positions. It is up to them to decide whether to refuse to help, with the result that Greece will have to leave the euro whether they like it or not, simply to survive, or to relent and offer a more acceptable and realistic package that will keep Greece afloat and allow them to stay in a re-shaped common currency.
We know what they want to do. They have stuck to the current stance in the hope that the Greek government will fall and “regime change” will be brought about. There has even been talk of a government imposed on the Greek people from outside or of a government of “technocrats” that will do the bidding of the financial establishment. The referendum result, though, seems to have put paid, for the time being at least, to that disgraceful objective.
But, for a brief period, the Greek crisis has given us a glimpse of the mailed fist and doctrinaire rigidity behind the “European” ideal. Rarely can there have been such a stark demonstration of the inherently undemocratic nature of the European power structure and of the interests it truly serves.
It may be that the Greeks, by forcing an “agonizing re-appraisal”, will end up having done the true adherents of a united Europe a favor. It may be that, at long last, we will begin to contemplate a Europe based on agreement freely given by the continent’s governments and peoples, an agreement to build a Europe by learning from each other how to work together and to cooperate more closely, a functional Europe that will do those things that are best done together rather than separately, a “bottom-up” Europe that will develop as a result of, but not getting ahead of, a growing sense of European identity and the wishes of its peoples.
We need a Europe, in other words, that is not just a vehicle for advancing powerful interests, and riding roughshod over everyone else, but that understands that the Greek poor and unemployed are just as important, and just as essential, to Europe’s future, and that enabling them and millions like them to live a better life is both a united Europe’s true purpose and its only real chance of success.

~ Bryan Gould is a former UK Labour MP and former vice-chancellor of Waikato University.



Young well educated man talks to his old uneducated grandfather.
“Grandfather, earlier today when I met my colleague for a coffee at Starbucks he asked me what I think of the acrimonious debate between the European creditors and the Greek Government and I didn’t know what position to take…what say you?”
“It is simple my boy, when the lion roars in the jungle all small animals run to hide.”
“What do you mean?”
“The lion is hungry. An animal’s flesh will be torn apart to satiate the hungry lion.”
“What do you mean grandfather?”
“The greedy bankers and financiers, the ludicrous saviors of our financial crisis have smelled the blood of the economy, they want to such some more, as if what they have sucked the last five years isn’t enough.”
“You believe that grandfather?”
“Let me ask you: what do you think is the reason for a financially powerful nation offers to sign a free trade agreement with a weaker nation?”
“To help in its development…”
“And you went to school for all these years, my boy…that’s not the reason.”
“What is it then?”
“To take advantage of it…to suck the blood of its citizens, to get easier access to its resources, to use its cheaper labor…and many other reasons except of the one you mentioned.”
“Tell me grandfather: did the EURO help us here in Greece?”
“I don’t know, but I can tell you this: before the EURO my coffee at the café cost me 100 drachmas and after the EURO it cost me .80 cents EURO or 280 drachmas, you think it helped me?”
The young man supported his chin under his palm and remained silent.

Καλά μορφωμένος νέος συζητά με τον αγράμματο παππού του.
«Παππού, λίγο πιο νωρίς που συνάντησα το συνάδερφό μου για ένα καφέ στο Στάρμπακς η κουβέντα πήγε στην κατάσταση και στη διαμάχη ανάμεσα στην κυβέρνηση και στους Ευρωπαίους Εταίρους και δεν ήξερα τί θέση να πάρω…εσύ τί γνώμη έχεις;»
«Είναι απλό γιέ μου, όταν βρυχάται το λιοντάρι στη ζουγκλα όλα τα ζώα τρέχουν να κρυφτούν στο δάσος.»
«Τί εννοείς;»
«Το λιοντάρι είναι πεινασμένο και θέλει να χορτάσει με τη σάρκα κάποιου ζώου.»
«Τί εννοεί αυτό παππού;»
«Οι άπληστοι τραπεζίτες, οι χρηματοδότες, οι καθώς φαίνεται σωτήρες της οικονομικής μας κατάστασης μύρισαν το αίμα και θέλουν να ρουφήξουν λίγο ακόμα σαν να μην ήταν αρκετό αυτό που ρούφηξαν τα τελευταία πέντε χρόνια.»
«Αυτό πιστεύεις παππού;»
«Εσύ ποιος λες είναι ο λόγος που ένα ισχυρό οικονομικά κράτος υπογράφει μια οικονομική συμφωνία με ένα αδύναμο οικονομικά κράτος;»
«Για να βοηθήσει την ανάπτυξή του.»
«Και πήγες στο σχολείο τόσα χρόνια…γιε μου, δεν είναι αυτός ο λόγος.»
«Τότε ποιος είναι;»
«Για να το εκμεταλλευτεί…να ρουφήξει το αίμα των πολιτών του, ν’ αρπάξει το φυσικό του πλούτο, να χρησιμοποιήσει το φτηνό του εργάτη…κι άλλοι πολλοί λόγοι εκτός απ’ αυτόν που είπες.»
«Πες μου παππού: ωφέλησε το ΕΥΡΩ τον τόπο μας ή όχι;»
«Δεν γνωρίζω αλλά μπορώ να σου πω το εξής: Πριν το ΕΥΡΩ ο καφές μου στο καφενείο κόστιζε 100 δραχμές. Μετά το ΕΥΡΩ κόστιζε 80 λεπτά ΕΥΡΩ ή 280 δραχμές, λές με βοήθησε το ΕΥΡΩ;»
Ο νέος στήριξε το πηγούνι του στο χέρι κι έμεινε άφωνος.

~ Μανώλης Αλυγιζάκης
~ Manolis Aligizakis

Sunday 10/6/2012

Spanish pie…

Or Spanish pudding as the proof therein lies. Spain is a brilliant example of healthy and balanced economic growth. A country that carefuly developed both its agricultural and industrial base. A country with balanced budgets and low debt before the crisis, Spain is suddenly scrambling to cover a black hole of debt. It realy makes no sense, unless of course you have read the Alexander the great plan:
Spain organized the only profitable olympics ever in Barcelona in 1992. Not a corrupt country with a population that doesn’t pay its taxes like we Greeks are supposed to be. The most profitable car factories of the Volkswagen group are the SEAT in Spain. So how did the Spanish end up with such a black hole of debt. An article by local economist Baroufakis blames the “idiotic” private bankers. I have a feeling though that it is more likely that banks have been buying each other out and “idiotic” bankers have managed to sweep their “mistakes” under the carpet. Since the crisis began here in Greece our private banks, that had avoided buying high risk products and were thus poised to avoid the crisis, have been slowly acquired by foreign interests and now require public refinancing. In any event here is the plan that was put into affect to “save” the Spaniards. First the Spanish banks will borrow about 300 billion from the European Central Bank at 1% interest. To avoid any possible bankruptcies the government will also borrow from the European Financial Stability Facility (EFSF) at about 4% and give that money to the banks. As in every case so far when refinancing the banks public money is simply donated with no return or control. To avoid the scary event of a Spanish bankruptcy the private banks will then lend money to their government, from the funds they borrowed at 1% form the EFSF, at the incredible rate of 6%.  So first the private banks of Spain dump their losses onto the Government, and the public. Then they get refinanced at low interest while at the same time lending at a 5 percentage point profit to Spain, pushing her closer to bankruptcy while fighting to pay massive loans of 4 and 6 percentage points to cover these private sector losses. The only thing that is required for this rotten deal is aggressive austerity measures on behalf of the Spanish government and like in the examples of Greece, Ireland and Portugal, the partial granting of national sovereignty. It is a small price to pay to stay in the Euro eh? NOT! The basic premise for SYRIZA and Tsipras refusing to partake in a government with either ND or PASOK is just that, the two parties have already signed a partial granting of Greek sovereignty…
This is also my premise for calling Merkel and her gangster coworkers Nazis, ’cause what do they want with Greek sovereignty anyways? The mechanism to chip away at nations and national identities has been set up. Who will prevail and under what conditions will be judged in the future elections or in the marketplace depending on our vote.



Saturday 15/10/2011

The Alexander the Great Plan unmasked

Using an extremely complicated algorhythm the ESA was able to estimate the proper financial moves to offset a possible housing crash in the US. Due to Budensbank and Credit Agricole massive investments in US mortgages it was decided that Europe was too exposed to fluctuations of the US market. So a vast program of lending was undertaken to offset this imbalance. According to the algorhythm it was wise to simultaneously funnel large sums into the European south to offset possible downturns in the US. True the countries of the south, and their banks, avoided high risk investments and overseas investments altogether. For the most part banks of southern Europe entrust their investments in Northern European banks. The very same banks that invest in US markets. When the crash did happen and the US with its new president, Obama, was in the compromised position of having to cover bank bankruptcies guess who were the first to go. Yup, the US government bought back its banks from European investors for cents on the dollar and of course the european banks used the investments of the south to cover the losses. A dominoe effect that set into motion the Alexander the Great algorhythm. Now Greece may not need to cover a multitrillion dollar hole but with its measly write off of 100 billion euros will set off a new dominoe effect. Exactly because of its position at the bottom of the totem pole the trickle effect will be a topling effect. You see a hundred billion euros of real money is the equivallent of two to three trillion in loans. Since it is a 30 percent slashing of debt in government bonds it is a slashing of that paperwork that the banks use to underwrite loans. Like a ripple reaching the shore and transforming into a tidal wave the defunct loans will topple each other till even the largest economies crumble. For real this time…