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Greece at the Point of no Return
Wolf Richter www.testosteronepit.com
"The European Union is suffering under Germany,” Georgios Karatzaferis said on Friday. He is the president of the right-wing LAOS. With 15 members in parliament, the party is a minority partner in the coalition cabinet of party-less technocrat Prime Minister Lucas Papademos. Karatzaferis accused German Chancellor Angela Merkel of trying to "impose her will on Southern Europeans." He called the Netherlands, Austria, Finland, and Luxembourg "satellite states" of Germany. And he said that the center of the EU was no longer in Brussels but in Berlin.
But the true toxin in his outburst was the phrase: "I cannot accept this credit agreement." With it, he backtracked on his support for the austerity package agreed to amid flickers of hope the day before. And it pushed Greece a step closer to disorderly default and bankruptcy.
To avoid that fate, Greece must make a €14.5 billion bond payment on March 20, but it won't be able to unless it receives the next bailout payment, this one for €130 billion, a mind-boggling 56% of Greece's shriveling GDP. That payment process has to be initiated over the next few days, according to ratings agency Fitch, to give all countries and institutions involved sufficient time to deal with the administrative complexities of bailing out a country with taxpayer money.
On Thursday, for a few minutes at least, hope was flying high in the media: the three governing parties had agreed on an austerity package that included cutting the minimum wage by 22% and trimming the bloated public sector. But the fallout was immediate.
Deputy Labor and Social Security Minister Yiannis Koutsoukos, a member of the socialist PASOK, resigned in protest over the cuts in social programs; he hadn’t been informed about them, nor had anyone asked him, he said.
Unions called for protests and a general strike for Friday and Saturday. The measures throw the unemployed, retirees, and young people into misery, said Ilias Iliopoulos, head of the union for civil servants. "We will not accept that, there will be a social revolt."
Greece’s Police union threatened Troika inspectors with arrest. In a written declaration sent to representatives of the Troika, the union accused them of trying to overthrow democratic order in Greece, injuring national sovereignty, and robbing the Greek people of important goods.
The small tabloid Dimokratia featured Merkel in Nazi uniform (joe.ie). The headline, “Memorandum Macht Frei,” evoked the infamous text above the entrance of the Auschwitz concentration camp. And demonstrators burned a German flag in front of the parliament.
Friday, public transportation came to a halt in Athens. Leaflets were handed out with Wanted printed on them, offering a reward of €1 euro for the arrest of a "Troikan." Peaceful demonstrations were followed by violent ones where demonstrators threw Molotov cocktails and rocks at police, who responded with teargas and clubs. More ministers offered their resignation. And on Saturday, the Prime Minister warned of collapse if parliament failed to agree on the austerity package. For more on the rough politics of bailout extortion, read.... Greece’s Extortion Racket Maxed Out.
As the situation veers toward hopeless, it follows the step-by-step procedure laid out by Otmar Issing, former member of the Bundesbank and the ECB—a procedure that has been happening for months.... Kicking Greece out of the Eurozone.
The Troika hasn’t always played hardball. For two years, it sent billions of euros to Greece to keep it afloat for a month or two at a time—though Greece had systematically misrepresented its deficits and debt since before it acceded to the Eurozone. In return for the bailout billions, the Troika asked for reforms. The Greek government promised them but failed to implement many of them. Politicians, ministries, and agencies refused to go along. The Greek people took to the streets. The bailout billions went up in smoke. The economy got worse. And Greece’s refusal to wholeheartedly embrace these reforms exceeded Teutonic patience and willingness to throw ever more money their way.
So the Troika is letting Greece twist in the wind. At risk are €130 billion—many times larger than the smallish amounts with which it had been spoon-feeding Greece. If the payment were €5 billion, it would be made, if only to delay the inevitable another month. But €130 billion, 56% of Greece’s GDP, won’t happen unless all conditions down to the last iota are met, humiliating to Greece as these iotas may be.
The Troika decided to let the inevitable happen, it seems. Their impossible-to-fulfill conditions offer plausible deniability. Mekel and colleagues can say “afterwards” that they tried everything, but that Greece simply couldn’t follow through. And Greek politicians are already planning for the “afterwards" as well. For that hair-raising debacle, read.... Greek Politicians Dive For Cover.
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Greece is expendable. It's like when you shot one hostage to get the rest to fall into line.
Greece is expendable. It's like when you shot one hostage to get the rest to fall into line.
Actually, you kill one to get the attention and a second one to make your point.
And maybe a third just for the fun of it :)
But a default means what? Greece would go back to the Drachma? And $14 billion would not be capitalized to the banks. Can the European banking system handle that type of funding crisis right now? The Euro would begin to inflate drastically as the ECB and IMF would begin to throw fiat in the Europonzi fire like never before.
Unless someone steps up and harnesses a nuclear reactor to their printing press--this defaut is gonna happen. I am not even sure if helicoptoro bernanke has what it takes--though he and draghi might put on their wonder twin rings.
Good coverage of Greece, Wolf! Yours is different than the kind of "Headline News" we normally get from ZH.
Although I know a lot less than you do about Greece and Europe, it does indeed look like the Grecian Farce Comedy Tragedy Play (in five acts) is drawing to an end. And Greece will leave (or be kicked out of) the Eurozone. They chose not to pay the piper early enough, and for this, their government let the Greek people down and will suffer terribly for it.
THEN we can start studying the "contagion effect" as we prepare for our own mess over here.
2-11-12
TWO NEW MOONS
Dear good hearted folks and bad guys too,
We are approaching two very dangerous windows of time in the next few weeks and month ahead. We have seen the push for world war to distract the nation from the financial collapse, and to place it under martial law approaching for many years now. There are two major windows of time to be aware of in our immediate future.
The first one is coming quick. It is between the 20th-23rd of February. The other is between the 20th-23rd of March both during the coming new moon windows. It is the same energy that was building up just before the baseless and unjustified criminal attacks on Iraq. The dominoes are set up to crash and fall and the really sad part of this truth is, no one seems to care. It is 11:45 on the clock and the strike at 12:00 is coming! Pray this is wrong.
http://www.almanac.com/moon/calendar/NY/New%20York/2012-02
You can go around and mention more war to people and they shrug their shoulders like it is no big deal. Many talk about isreal attacking Iran. Many more are talking about a 9/11 Type False Flag Event performed by isreal any day now. Many say, we should attack Iran. None can conceive the ramifications of what this actually means.
You might as well just as easily say, we are going to attack Russia, and China. DOES THAT RESONATE WITH YOU? World war with Russia and China? Is this what the new Nazi (Nationalist-Zionists) Isramerica wants for it’s future? IS THIS WHAT YOU WANT FOR YOUR CHILDREN AND FUTURE?
THIS IS WHAT YOU HAVE BECOME AMERICA!
http://news.yahoo.com/us-marines-posed-nazi-symbol-afghanistan-185101573...
http://www.youtube.com/watch?v=Y7PHOa8eBrU&feature=related
http://www.zerohedge.com/contributed/ter%C2%B7ror%C2%B7ist-noun-anyone-w...
http://video.godlikeproductions.com/video/No_more_Prepping_for_Me?id=8fb...
WORLD WAR WILL KILL ALMOST EVERY SINGLE HUMAN BEING ON THE PLANET!!!!
It is not too late to stop this insanity. All you media people that are reading this today better ask yourselves, are you going to support this evil that seeks to kill you and yours off too as you sing their songs and praising propaganda all the way to your last breath? Do you think by dis/mis-informing the world with your slimy false misleading propaganda you will escape the fate they are shaping up for you? Do you think you and your families will escape a chinese surprise attack with race specific bio-weapons, or a neutron bomb attack? Do you think you will be treated specially after say, an EMP attack?
NO! You are being used to spin the lies and dis/mis-information until your last breath. You are useless idiots doing the bankster/WAR PROFITEERS dirty work of being the mouth pieces of the zio-media propaganda that NO ONE believes any more. You are wasting your time and looking more and more STUPID every day as you tell your tales of useless wasted dribble and propagandistic horsewwash.
Now here is the kicker.
You all better turn off the TV right now because it is being used as a psychotronic mind control weapon against you all. Or, why they implemented the new digital TV system. If you do not know about subliminal suggestions and digital TV mind control waves that are pulsed over every carrier wave there is, most especially the new TV system, you better do some homework around this subject.
http://www.bibliotecapleyades.net/sociopolitica/esp_sociopol_mindcon40.htm
“Subliminally, a much more powerful technology was at work, however. A sophisticated electronic system designed to ‘speak’ directly to the mind of the listener; to alter and entrain his brainwaves, to manipulate his brain’s electroencephalographic (EEG) patterns and thus artificially implant negative emotional states —- feelings of intense fear, anxiety, despair and hopelessness were created in the Iraqi troops.”
SUBLIMINAL MESSAGE TO ALL FOX AND CNN NEWS MINIONS.:
“Vote for so and so or you will be harmed and hurt! Be afraid, very afraid if you don’t vote for obama/soetoro, sanitarium, ginkrich, or mittney because if you don’t, the world will end. DO NOT VOTE FOR RON PAUL…”
http://www.youtube.com/watch?v=bBr7Sjrovzk
http://dprogram.net/2009/07/12/ex-ibm-employee-reveals-tv-abandoned-anal...
This is why we see the winners of the republican caucuses and primaries changing to one candidate, then to the other, then yet to another underdog. Everyone but Ron Paul. This is what we are up against. The beast of the PROPAMEDIA digital TV-mind-control machine. They are using FOX and CNN news to make the people vote for the candidate/flavor of the month to keep the people divided and confused with lies and dis/mis-information so later on down the line they can say, no one can agree on any of these candidates, so then they can bring in their “ringer” inside-job candidate.
Who is that? The lying shrubs nazi brother, jeb bush. Another globalist nazi stooge. Kissinger was said to have told the chinese jeb the shrubs brother will be the next puppet leader.
http://www.knowthelies.com/node/6862
IF, that is a big IF we actually make it to the convention without a world war breaking out and the country falling into the fascist/communist state of chaos, hardship, and confusion it is being set up to be, then they will try and hoist yet another bush on the country. This should make every NORMAL unconditioned or controlled American just plain sick to think of this possibility.
THE DIGITAL TV PROPAGANDA AND SUBLIMINAL SUGGESTIONS TO VOTE FOR THIS CLOWN OR ANOTHER GLOBALIST PAID OFF FLUNKY ARE KILLING YOU!!!
WAKE UP TO THE FACT THAT IF YOU WATCH FOX OR CNN, OR ANY OTHER DIGITAL TV, YOU ARE BEING MIND CONTROLLED WITH THE ABOVE TECHNOLOGY.
Don’t believe it, turn off your TV for a week and see if you don’t notice a difference. If you want to watch TV, watch movies, or educational type shows and only for a short time. Here is a classic and very rare book that is on the blacklist and tells you all about the history of this evil mind control programming in the United States. Read it from cover to cover PLEASE!!!
http://www.scribd.com/doc/2962412/Jacobson-Mind-Control-in-USA
What can stop it? Hummmm. Believe it or not?
http://www.myspace.com/video/truenorthmtl/marijuana-stops-the-mindcontro...
So back to reality. If you want REAL news, go to these sites for middle of the road news:
http://whatreallyhappened.com/
Financial news:
http://www.zerohedge.com/
Ron Paul News:
http://www.dailypaul.com/
HOW MANY WILL READ THIS AND DISCOUNT IT?
AND TO ALL YOU USELESS IDIOTS THAT THE PROTOCOLS REFER TOO, WHY DON’T YOU JUST DIE NOW AND SAVE YOURSELVES THE TORTURE OF A SLOW DEATH FROM BEING SO CLOSELY ASSOCIATED WITH THIS EVIL TECHNOLOGY?
Read this and see where you fit in at:
www.biblebelievers.org.au/przion1.htm
Are you one of the useless idiots?
If you do not realize how you are being used and manipulated by your evil controllers that DO NOT CARE ABOUT YOU, and you do not do something to save your country while you can because there might only a few weeks left to do it, you can bet your life that when the chinga hit’s the fan, there are many that know you and have you on the list of targets to eliminate first for your treasonous acts against the United States of America.
THE LAME STREAM PROPAMEDIA IS THE MAIN BLAME FOR THE USA’s FALL AND COMING DESTRUCTION. THE INSANE STREAM ZIO-MEDIA PROPAGANDA HAS BEEN USED LIKE THE WEAPON IT IS TO CONTROL THE USA FOR DECADES. THIS IS A PLEA FOR YOU ALL TO TURN ON YOUR MASTERS AND SIDE WITH THE PEOPLE. PLEASE STOP LYING AND DIS/MIS-INFORMING THE WORLD WITH YOUR USELESS DRIBBLE AND DISTORTIONS OF THE REAL TRUTHS.
THIS IS YOUR LAST WARNING. THE PEOPLE KNOW YOU ALL WELL AND YOU WILL BE TERMINATED IN THE FIRST DAYS OF THE COMING CHAOS THAT IS BEING SET UP TO HAPPEN ANY DAY NOW AFTER AN ISREALLI FALSE FLAG ATTACK SOMEWHERE TO BLAME ON IRAN, OR SYRIA, OR PAKISTAN. EVERYBODY KNOWS WHAT YOU ARE, WHO YOU ARE, AND WHAT YOU ARE DOING. LONDON BANKSTERS AND ZIONIST PIGS!!! YOU ARE GUILTY OF TREASON, LYING AND DIS/MIS-INFORMING THE AMERICAN PEOPLE AND OUTRIGHT TREASON. YOU ARE GUILTY OF MISLEADING THE NATION LIKE PIED-PIPERS LEADING THE LEMMINGS OFF A CLIFF TO THEIR DEATHS. GUILTY!!!
Take a lesson from a true and real reporter here reporting real truth. He got fired for telling his truth about election fraud and population reduction, but will be more famous than ever soon for speaking his truth.:
http://www.youtube.com/watch?v=7BLiSp_O5NY
We are facing the possible ignition of World War Three here any day now. We could wake up and hear that isreal has just pulled off another 9/11 Type False Flag Event, which could be even worse than the 9/11 Event they pulled off to trigger the Iraq/Afghanistan wars they were already in place and prepared for. It is all preplanned by the globalist zionist evil satanic minions of evil and destruction and absolutely abhorrent when one clearly understands the agenda from the top down. KILL THEM ALL OFF!
http://news.yahoo.com/panetta-says-israel-could-strike-iran-spring-repor...
Please Ron Paul, please make this the biggest issue in your policy statements because if you don’t shine the light on this huge clear and present danger to our nation, we may well see these zionist banksters start the world war in which isreal was created to do. Isreal is a MADE UP nation and people that is being USED and played like a three dollar pigbutt-sucker to start the “final solution” war for the globalist profiteers and evil british banksters that seek to use this last war as the population reduction tool it is to rid the planet of 9/10th’s of humanity, or more.
Listen to the evil british agent squid-thing kissenger speak to world war:
http://www.dailysquib.co.uk/world/3089-henry-kissinger-if-you-can-t-hear...
http://educate-yourself.org/nwo/nwopopcontrol.shtml
http://www.threeworldwars.com/albert-pike2.htm
We are all being killed off from so many directions.
http://www.naturalnews.com/033772_Monsanto_Roundup.html
The evil in control is in Britain. We have chemtrails, GMO foods, tainted water systems, dis/mis-information, tainted soils, govt corruption and crime, tainted media, poisoned air, chemicals in everything, pharmaceutical drugs, vaccines, radiation everywhere, non-lethal weapons, and psychotronic electromagnetic energies all aiding in the mass killing of us all. The latest worst of all is the horrendous catastrophic fukushima disaster that no one is talking about, or cares enough to track properly. It is slowly killing every biological life form on the planet. Even now it approaches the west coast and the fish in the Pacific are already contaminated with high amounts of radiation. The days of fresh uncontaminated sea food are over and do you think any one cares, or understands the significance of taking out the oceans as our basic life building block?
Not! Too mind controlled to acknowledge the problem by the propamedia psychotronic warfare that is being waged against the American people. Now, they are mostly all too dumb to realize they are being controlled and killed off slowly. Try to imagine what will happen after an EMP takes place and ALL THE NUKLEAR PLANTS run wild and meltdown because there is no energy to keep them cool. LET THAT SINK IN FOR A MINUTE. IT IS COMING!!! Between the Sun and the Chinese or Russians, there is a high probability of an EMP taking place any time now, OR IN THE NOT TO DISTANT FUTURE. How many people in your neighborhood have died recently from radiation poisoning related causes and electromagnetic attacks? Take a look at your local Obituaries and see.
If you are smart enough to read this, you better stay off the evil addicting drug TV! It is killing you, but do you care America? Please share this with others to wake them up. DO ALL YOU CAN TO GET THEM OFF THE FOX/CNN TV MIND CONTROL DRUG NOW!
Stupid is as stupid does, and ignorance of God’s truth will kill you.
We are coming to the days of no more fooling around, and there will be no time for name calling or ignorance. Everything will be a REAL and a COLD harsh reality of death’s stench. It will fill the land of a stupid people that do not clearly understand what it is going to be like to have war in their own backyards as the evil killers swoop into your towns and cities. Do something now to stop it all, or plan on perishing with the masses as they are led off the cliff.
Follow your Heart!
Lets hope they start with you.
Lets hope they start with you.
"[T]he slime oozin' out from your TV set"
To The Heart: HA HA HA what a rant! I'm like the mosquito who just flew into the nudist colony, I don't know where to start! So it's time for a counter rant...here we go... 1) Astrology is bullshit. 2) Paranoia will destroy ya. 3) Fe Fi Fo Fum, I smell the rantings of an anti-semite! 4) Yes, you are mentally ill, get some help.
Your rant is almost identical (with the execption of the digital TV part) to some of the tapes of mentally ill people I listened to when I was taking an abnormal psychology course back in my college days decades ago.
The one bad thing about the internet is that it lets people like you who formally would have been alone and isolated from one another now find one another, tell one another that you are the only sane ones who know EVERYTHING, while the 95% of the rest of us are all stupid idiots or insane, and take your paranoia to even greater levels of absurdity. I'm surprised you didn't come out and say the earth is flat and the Apollo moon landings were faked.
Anyway, I enjoyed your rant, I even drank a beer while reading it, and turned off the TV too for a while. Now please go and repost your rant on all those other hundreds of websites you likely post on, it's probably how you spend 90% of your waking hours.
You must be in prison or you have way to much time on your hands,,,do you really believe this shit or ar you just fuckin' with the ZH crowd?
People don't think this shit could be going on? I put literally nothing past our "leaders".
It would be nice to have our country back instead of them pissin' down our backs and tellin' is its rainin'...
Two questions:
1) What is "God's truth" in your mind?
2) If I don't kill you, but do urinate on you is that still really bad?
Dude get off the crack!!!
Or on the Thorazine.
holy fuck did you ever open up a can of crazy there.....
More like a 55 gallon drum of crazy...
I heart crazy :)
U spelled hart wrong...
As in "deer hart."
You two are obviously victims of SSSS. Do you really think a 6'3" Chinese guy from Harvard could outplay Kobe Bryant?
he did, the Chinese guy i mean...
the daily squib is satire.
this ain't kansas or is it?
http://www.youtube.com/watch?v=60A1yKc2hi4
Basically the end is here and the situation is beyond salvageable. Culturally speaking this Union has been a disaster, as under Antiquity democracy was a way to accentuate individuality whereas the German interpretation is uniformity -- dare I say conformity -- coming down to economics. All that aside, this "bail-out" is and will continue to be about the insane Euro banks and not Greece. The farce can go on seeing how most Europeans are oblivious to the problems and their roots.
On we go! Chaos and decline it is...
The unions are a "trade agreement" and an "FX agreement". By countries which have each their own culture.
The unions-or-treaties-as-now-existant might be changed, the need for them is here and this won't change.
Is any voluntary agreement a loss of freedom, culturally and otherwise? Well, yes, you bind yourself to your word.
As a citizen, I don't mind if governments administer on each other a bit of oversight medicine, in fact the stricter and more critical they are of each other, the less they can restrict my individuality.
quis custodiet ipsos custodes?