Greece says NO to Criminal German Banksters

Nazaroo

Nazaroo

New member
An awesome act of solidarity and defiance by Greece:

When Germany was a mess, it was bailed out bigtime by banking funds.

But when Greece was in a similar mess, the banks offered no loan write-offs,
or any kind of sustainable debt load.

Apparently whats good for Germans isn't available to Greece.

Naturally Greeks have had enough, and other countries should follow suit,
if banksters are going to hold back pensioners' checks and pull other dirty tricks,
to try to influence the Greek vote.

To hell with the banksters. Let the system collapse and be replaced with
the old system of gold and silver standards.



Greeks surprise polling experts with strong 'no' in referendum


Greeks have voted overwhelmingly to reject terms of a bailout, risking financial ruin in a show of defiance that could splinter Europe. 7:21 PM ET read 2694 comments video


 
Nazaroo

Nazaroo

New member
Executive Director of the IMF admits the IMF is driven by political agendas:

https://www.youtube.com/watch?v=01YWzUD27og


The USA should do the same as Greece and throw out the IMF
and the international banking cartels, print its own money based
on the gold standard, and tell banksters to hit the road jack.
 
R

republicanchick

New member
i was never good @ anything that has to do with $ or banks

maybe you could explain what happened here, as i have not been able to follow it closely



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drbrumley

drbrumley

Well-known member
chrysostom said:
greece is just a bunch of whiners who refuse to pay the piper
Click to expand...

For its part, Greece stands at a fork in the road. Syriza can move aggressively to recover Greece’s democratic sovereignty or it can desperately cling to the faltering currency and financial machinery of the Euro zone. But it can’t do both.

So by the time the current onerous bailout agreement expires at month end, Greece must have repudiated its “bailout debt” and be on the off-ramp from the euro. Otherwise, it will have no hope of economic recovery or restoration of self-governance, and Syriza will have betrayed its mandate.

History In the Balance: Why Greece Must Repudiate Its “Banker Bailout” Debts And Exit The Euro
 
chrysostom

chrysostom

Well-known member
Hall of Fame
drbrumley said:
For its part, Greece stands at a fork in the road. Syriza can move aggressively to recover Greece’s democratic sovereignty or it can desperately cling to the faltering currency and financial machinery of the Euro zone. But it can’t do both.

So by the time the current onerous bailout agreement expires at month end, Greece must have repudiated its “bailout debt” and be on the off-ramp from the euro. Otherwise, it will have no hope of economic recovery or restoration of self-governance, and Syriza will have betrayed its mandate.

History In the Balance: Why Greece Must Repudiate Its “Banker Bailout” Debts And Exit The Euro
Click to expand...

oh please
there is a bill
and
they don't want to pay it
 
drbrumley

drbrumley

Well-known member
chrysostom said:
oh please
there is a bill
and
they don't want to pay it
Click to expand...

Is that a fact?

The true evil started with the bailouts themselves and the resulting usurpation by the EU politicians and apparatchiks of both financial market price discovery and discipline and sovereign democratic prerogatives. Accordingly, the terms of Greece’s current servitude can’t be tweaked, “restructured” or “swapped” within the Brussels bailout framework.

Instead, Varoufakis must firmly brace his interlocutors on the true history and the condition precedent that stands before them. Namely, that the Greek state was effectively bankrupt even before the 2010 bailout, and that the massive amounts of debt piled upon it thereafter was essentially a fraudulent conveyance by the EU.

Accordingly, Greece’s legitimate debt is perhaps $175 billion based on the pre-crisis euro debt outstanding at today’s exchange rate and the haircut that would have occurred in bankruptcy. Greece’s new government has every right to repudiate the vast amount beyond that because it arose not from the actions of the Greek people, but from the treachery of EU politicians and the Troika apparatchiks—-along with the unfaithful stooges in the Greek parliament and ministries which executed their fraudulent conveyance.

Indeed, the purpose of the massive EU, ECB and IMF loans to Greece was just plain ignoble and corrupt. The European superstate deployed its vast fiscal and monetary powers to make whole the German, French, and Italian banks and other financial institutions which had gorged on Greece’s sovereign debt. For more than a decade, heedless gamblers and lazy money managers and bankers had loaded up on Greek debt bearing yields that superficially bore a premium relative to the German and US treasury benchmarks, but in fact did not remotely compensate for the self-evident credit risk embedded in Greece’s budgetary profligacy.

Seems those in the know disagree with you.
 
gcthomas

gcthomas

New member
drbrumley said:
Is that a fact?... .

Seems those in the know disagree with you.
Click to expand...

Your quote is not balanced, but is charged with political idealism.

In reality, defaulting on its debts and leaving the Euro monetary union may well happen and perhaps even be desirable for the EU, but it will be a disaster for Greece. Who will lend to a country that borrows €300 billion from its friends plus a lot more from the IMF but refuses to pay it back? It is the only western country ever to have missed an IMF repayment.

Greece's problems are largely of its own making. Spain and Portugal nearly collapsed financially, but they reformed their economies as a way to justify the loans they took, cutting spending and imports while making good to sell, and now are experiencing 5% annual growth. Greece fabricated their financial reports to the EU for years, hiding their failure to tackle endemic tax fraud and corruption.

Greeks uniformly take payments in cash to avoid paying their taxes, and now the government can't pay the bills. They went cap in hand to their neighbours, but like an alcoholic tramp failed to make the changes they promised. And now they want more and aren't even promising to make the necessary reforms.

It is a difficult position, but Greeks must take their share of the blame and stop trying to live beyond their means.
 
gcthomas

gcthomas

New member
chrysostom said:
it had just absorbed east germany
and
that was a mess

greece is just a bunch of whiners who refuse to pay the piper
Click to expand...

West Germany funded the absorption itself and AFAIK never defaulted on any loans, retaining its excellent credit ratings. It even gifted 55 billion deutschmarks to the USSR to compensate them for the transfer of a Warsaw Pact nation to Nato.

No, there are no precedents for Greece to keep claiming open ended gifts from other nations without carrying out essential reforms.
 
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