Posts Tagged ‘economic’

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: http://ellinomangia.blogspot.gr/2011/10/alexander-great-plan-unmasked.html
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.

 Eλληνομαγκιά

 

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…

 

Eλληνομαγκιά

Πέμπτη, 16 Φεβρουαρίου 2012

must say yes

October 26th was the date of the signing of the first memorandum that was to save Greece from bankruptcy and economic disaster. Part of that parcel included a “haircut” on our debt so that we would be able as a nation to cope with payments. The country nearly fell apart under the moral strain of signing everything over to foreign powers in order to achieve this loan. The prime minister resigned and a technocrat banker was appointed in his place. We were promised elections before memorandum number two. A government with a specific objective and timetable. No elections were held, polls show an absolute failure of the present political system, and they have passed memorandum number two. So this coalition government that was to carry out memorandum number one as enforced by the troika has failed on every level. It has not closed a deal on the “haircut” beyond the internal sixty percent. The deal was to have a similar dumping of debt from the private sector. This is only the first double cross. Elections before the passing of memorandum number two is the second double cross. Memorandum number two has passed despite the objection and deletion of nearly forty members of parliament. Two opportunists crossed the floor to support it. So this is slowly turning into a money making proposition for the world and a case of high treason for the Greeks. Deals are struck, laws are passed, money is never transferred, sovereignty is lost and to top it all off Schuable says there is no need for elections. It is ridiculous. It is proof of how wrong and desperate he is. It is proof that this is a process of looting that does not need popular support and will never enjoy it.

 During the last week, and after the signing of memorandum number two, our president, mr. Papoulias, asked “who is this mr. Schauble who feels he can insult my country?”. Along with mr. Glezos, the man who lowered the Nazi flag from the Acropolis the night of the German invasion, and mr. Theodorakis he is the third ww2 hero and member οf parliament to speak up against these memorandums. Like little post-it stickers these memorandums have come into our lives to make the poor poorer and poorer. We are the only country to never receive reparation payments from Germany, we are the only country to never receive repayment of the forced Nazi loans of world war two. The loan, known here as the occupational loan, amounts to all the gold held by the Greek national bank at the time and along with interest would amount to a third of our debt today. The Nazi war machine and blitzkrieg tactics steamrolled through all countries but one during the war. The first to stop and hold the Nazis at the border were the Greeks. The myth of German invincibility ended here. Will it end again or will the Germans, some Germans anyways, exact their revenge?