This is a test. Will the internationalist banksters force extraction of their ill-gotten interest payments to bail out their reckless derivative trades gone wrong, or will a sovereign country abandon the chains of financial elite coercion and renounce their IMF and ECB debt? Make no mistake about it, Greece has lived high on the hog for decades and has serious internal problems. There is no free ride. However, the pain from the coming default is necessary to shed the yoke of a failed European Union construct.
So when “Greece Invokes Nuclear Option: Tsipras Calls For Referendum” ordinary peoples in every sector should have a voice if the financial deal being imposed upon Greece must go forward.
Well, is this not novel? Allowing citizens to voice their agreement or disapproval has the financial establishment in a tizzy. “PM Tsipras lashes out, and Lew urges a deal” reveals that stamping out any rebellion against the banksters orbit of dominating individual countries, covering counter party losses and keeping the debit enslavement system intact.
So when the NYT reports that “Cash Withdrawals and Hoarding as Default Looms Over Greece” the hysteria hype is simply designed to scare the daylights out of world markets. Drops in equities have not induced panic at this point since only an ostrich did not see the Greek confrontation with the EU coming.
Still, the WSJ warns about the coming consequences in “Greece’s Banks Give Eurozone Peers Glimpse Into Abyss“.
Greek banks’ emergency funding was frozen at €89 billion by the ECB on Sunday, after having been increased by just €1 billion to €2 billion on an almost daily basis in the week until last Wednesday. That suggests the banks have been operating pretty close to the limits of what they can pay depositors.
The world will not come to an end if Greek voters reject the EU blackmail. Quite to the contrary, an ultimate exit from the European Union would provide real relief to a country, which has been extorted to pay, not just their own government obligations, but an arbitrary quota of derivative wagers gone awry from financial institution as referenced in the essay, “We Are All Greeks“.
The refusal to write down unpayable debt, by Europe’s bankrupt giant banks and governments, is the fundamental reason the economies of the whole European Union have been dead in the water for seven years. Since the 2008 financial crash, these banks have sat with @eu2 trillion of toxic real estate debt on their books, tangled in tens of trillions in derivatives contracts—unable and unwilling to lend into the European economies, through year after year of economic recession and depression. Anything suggesting bank reorganization to deal with these dead debt securities under Glass-Steagall principles, has been refused, and Europe’s bankrupt megabanks lie, like undead monsters, blocking the road to productive credit, investment, and recovery.
Entering the picture is an option that the EU technocrats are hardly equipped to handle. Bring on the default because “Russia appears to extend aid hand to Greece“.
“We will support any solution on regulating the Greek debt crisis that is suggested by Greece and our European partners,” Russian Deputy Prime Minister Arkady Dvorkovich said, according to the state-run TASS news agency. “The most important things for us are investment projects and trade with Greece. If financial support is required, we will consider this question.”
Russian President Vladimir Putin’s office also said Friday that Russia would consider giving loans to Greece, adding such aid should be considered par for the course for countries that are partners. Putin’s office stressed Greece has not yet formally asked for any financial assistance from Moscow.”
There is life after a Grexit. The prospect of Greece not only leaving the EU but withdrawing from NATO should have the Brussels New World Order elites taking pause. Imagine the Russian Bear gaining a Mediterranean port as the Greek duly elected regime opts out of the imperial club.
All things possible, in the cradle of Democracy, might just start with a plebiscite to default on the EU shakedown debt.
This should be the real panic among international finance loan sharks.
Then think about the “so called” UK referendum to leave the EU. Such an effort would certainly gain steam after a successful Greek exit.
Those who doubt that the banksters cannot be defeated, just recall that more than 93 percent of voters said “no” in a referendum ballot during the Iceland’s rebellion, against the financial manipulators.
Let the great European Union fleecing unravel. With the election of Alexis Tsipras, the “Greek Vote Pushes EU to Limit“. Now with a public referendum scheduled, will Greeks lose their nerve?
The Guardian reports that Tsipras asks for new two year bailout.
The Greek government today suggested a two-year agreement from the European Stability Mechanism for the full coverage of financial needs and at the same time restructuring of debt.
The Greek government until the end will seek a viable solution within the euro. This will be the message of NO to a bad agreement in Sunday’s referendum.
Is this a ploy to present a credible image that salvages an about face to stay in the EU? Not likely. But the IMF creditor has no interest in taking a loss on their paper loans. The staged demonstration in favor of remaining in the EU has all the signs of a media managed by the monetary hierarchy.
Less one forgets, those bond creditors scream load about default; however, these same bankers never sounded a whimper when the private GM bond holders were bypassed in the rescue of government motors.
The big difference is that the IMF banksters think of themselves as the creditor of primary claims. Now that Greece is in technical default, take the next needed step and exit the EU altogether. Break the strangle hold on the continental loan shark scheme and return to a Greek Drachma free of the illicit debit contrived by financial extortion.