Tuesday, January 27, 2015



From Charles Hugh-Smith and Automatic Earth Blogz
Once one oligarchy falls, it will threaten to topple a long line of oligarch dominoes.
A great many narratives invoking Greece are being tossed around, but only one really encapsulates the unvarnished truth: the Oligarchs blew it. The oligarchs in both Greece and the European Union/ECB had the opportunity a few years ago to trade some of their outsized wealth and political power for stability and sustainable expansion.
Instead, they chose to not just cling to every shred of their outsized wealth and power but to actively increase it. Their greed and hubris has now put their entire system of parasitic wealth extraction at risk of collapse. Their political stranglehold on power has been weakened, and there's no going back: they blew it, and now it's too late.

The debt-serfs have finally had enough.

Now let us direct our attention from the REAL PROBLEM: Total domination of governance and finance by a class of vested interests and mega-wealthy cartels/oligarchies.

The solution is straightforward:
Default on all debt by no longer making interest payments.

As the old saying has it,you can't get blood from a turnip. The impoverished face little downside from leaving the stranglehold of the euro, and only upside from a return to a sovereign currency controlled by the Greeks rather than the E.U. or the European Central Bank (ECB). The only people with enough wealth left to worry about a return to a sovereign currency are the wealthy who own the assets and who depend on handouts from the E.U.

Yanis Varoufakis SAID TO THE BBC it would “take an eight or nine year old” to understand the constraints which had bound Greece up since it “tragically” went bankrupt in 2010. “Europe in its infinite wisdom decided to deal with this bankruptcy by loading the largest loan in human history on the weakest of shoulders, the Greek taxpayer.

The understanding of an eight (8) or nine (9) year old to understand ? Man that is getting into plowing thru some heavy seas. So Bob Dylan said it right “ It doesn't take a weatherman to tell you which way the wind is blowing.” and NOW;

Now lets here what a Mid-Western farm lad, turned musician said: “ Seems like LOANS are all the politician's want to talk about, we don't need anymore more loans, we need a good price for our crops is all........”
Let me repeat his words:
Now he is a musician who helped start Farm Aid, and here is where he says this in the first 15 seconds of this video https://www.youtube.com/watch?v=joNzRzZhR2Y .

The threat of expelling Greece from the euro is hollow. A return to a sovereign currency puts the responsibility for prudent management of government expenditures and debt back in the hands of the Greek people and the leaders they elect. Why is that something terrible?
We have to remember that the lenders who entrusted capital to marginal borrowers took the risk and therefore have to absorb the losses. In this case, the irresponsible lenders include sovereign nations that acted to protect their own oligarchies

The powers that be within the EU deliberately unleashed shock therapy on Greece – helped along by Goldman Sachs and the IMF, granted -. All supra-national organizations tend towards zero moral values. It’s inherent in their structures. We have NATO, IMF, World Bank, EU, and there’s many more. It’s about the lack of accountability, and the attraction that very lack has for certain characters. Flies and honey.

In what universe is it a good thing to have over half of the young people in entire countries without work, without prospects, without a future? And then when they stand up and complain, threaten them with worse? How can that possibly be the best we can do? And how much worse would you like to make it? If a flood of suicides and miscarriages, plummeting birth rates and doctors turning tricks is not bad enough yet, what would be?



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