In a week where “glitches” froze all Dow Jones securities trading for roughly 2/3 of an entire trading day, and Beijing pointlessly kept clamping down on anyone suddenly wishing to extricate their capital from perhaps the most short-term, over-bought stock market index on the planet…things in Greece have continued to go from bad, to worse, to horrifying.
Submitted by The Wealth Watchman:
The New Normal
Recently I warned that the time of “peaceful days”, without threatening incidents to global financial health, were behind us. What’s going on at the Euro Summit now, is further proof that the bankster assassins of national sovereignty are hell-bent on making an example out of the Greek people.
It is now becoming clear that Varoufakis, having accomplished his personal mission of helping Greece default within the Eurozone, was also a man who knew to get out while the getting was good! Consider just the newest headline this morning, and instantly comprehend the rage of the Greek people…
Does anyone honestly believe that Greece, who just told the Troika, “hell no”, to more bailouts and austerity, is going to honestly approve of a deal that says they must(among other things):
1) Change their VAT policy
2) Drastically cut their pension system
3) Crank up more austerity cuts
4) Let the banksters control their utility companies, and
5) Allow the Troika to come back and tell their nation how to micro-manage their finances?
Don’t believe me? Brothers, just feast your eyes on this Euro Summit snippet from Fabrizio Goria, which summarizes a key component of the proposed “Greek Fund” plan. Read it slowly…
That, my friends, is a direct negation of everything that Greeks have said they wanted. Greece has said no to this stuff twice: first by electing Syriza, and then, in much greater numbers, in their July 5th referendum.
It requires that any actual assets left, are to be forfeited.
It requires remaining Greek capital be placed under German control, and sink beneath the escrow waves.
It requires that their financial future be wasted on an empty-shell of a banking system.
It requires, in short, that Greece truly become a vassal state. A province.
“Well, Watchman, yes it’s demeaning, but if it would actually relieve Greek suffering, and mark the end of this humiliating process, why shouldn’t they jump at it?!”
These are just the initial demands of Germany and Brussels! They’ve made it very clear at the Euro Summit, that this first pound of flesh is only the beginning. Read em’ and weep(via Mr. Goria):
So, Greece must lay down their arms, their dignity, and their sovereignty…just for the CHANCE to receive a harsher, more “comprehensive assessment” after the summer. Who wouldn’t jump at that, right?
Read on though, it gets even better…
The Greek banking system would likely burn through this 10 to 15 billion Euro cushion within weeks…and then what? Come September, what happens then?
What then do they pour into the utterly shipwrecked banking system of the Hellenes? How does normalcy return to their banking system, without any remaining collateral to hand over to Brussels and Germany?
Folks, the banksters can adamantly deny in their statements that a bail-in is coming all they like(and they do deny it), but I honestly can’t see any other way this thing remains a going concern. I can’t see how it’s possible to avoid depositor haircuts, on this neverending path to financial perdition, that Greece has been placed on.
I can’t see how bail-ins aren’t coming in the months ahead, and meanwhile everyone in the EU is still pretending not to see what was always the only solution all along…
An End to the Suffering
The problem with the Greek people, is that many only seem “halfway there”. They know the banksters are their enemy, but they seem insistent on finding an option where they can still be a sovereign nation, and yet still remain in the EU.
Let’s be clear: no such option exists! In this case, they cannot have their cake and eat it too!
Recently, Nigel Farage heroically stated, in no uncertain terms, what Greece’s only true solution and option for sovereignty is. I urge you to listen to that speech below. If you’ve heard it, listen again!
There is no Plan B. Nothing else will work.
No one could’ve possibly stated it any simpler or better in under 5 minutes, could they?
Tsipras remained ’emotionless’ throughout the speech, but in his heart, he knew Nigel was right! Everyone does! The problem is that Greece isn’t Iceland. Iceland never borrowed nearly half a trillion dollars from Europe’s largest banks. Iceland was a tiny country, whose true solution could be “kept quiet”, and whose implementation wouldn’t set the flammable derivative structure ablaze.
From proposing “temporary time-outs”, to private firms taking possession of what few crown jewel assets are left to Greece….both Germany and the EU continue to avoid, at all costs, doing the only thing which could actually help Greece:
Write down(and write off) the Greek debts.
It is both unreasonable and unwise to continue to demand a $50 billion asset seizure of a country that just told their elected officials that there was virtually no will for more bailouts or austerity. These unfair, unworkable plans foisted on the Greek people will serve nothing but to further radicalize and impoverish them.
The only real solution for the Greek people(and their creditors), is what the gallant Nigel Farage told Mr. Tsipras in the EU parliament.
The Greeks must exit the Euro, eat massive, short-term losses, and allow their new currency(the Drachma) to find its true, devalued going rate, and then move forward. Nothing else is actually in the interest of the Greek people, but more importantly, nothing less will actually work.
Everything else applied is just more of the same. More suffering. More debt. More agony.
The Greeks, if they’re courageous enough, should force their elected officials to comply with the July 5th mandate: no new bailouts, no Troika, no new asset seizures or “funds”. However, the July 22nd deadline is fast approaching, and if the Greeks are going to mobilize, they must do so now, with everything they’ve got.
Oh! And while I think about it….am I the only person who kept a silver coin in his pocket last week, as I watched the digital assets of tens of millions being “frozen” in the Dow Jones index? From European chaos, to multi-country stock crashes, to equity freezes…..I’ve never been prouder or more at peace, to own a core asset, which, though constantly attacked by banksters, will never go down for “technical reasons”.
These little puppies don’t do….”glitches”.