This page has been archived and commenting is disabled.
IMF Declares War On Germany: In "Secret" Report Lagarde Says Greece Will Need Massive Debt Relief
Update: Europe now looks to be in damage control mode. Here's Reuters:
- EU SOURCE SAYS EURO ZONE LEADERS KNEW OF LATEST IMF DEBT ANALYSIS FOR GREECE BEOFRE AGREEING ON THIRD BAILOUT TERMS
A divide between the IMF and Europe (read: Germany), regarding writedowns on Greece’s debt to the EU has been brewing for quite some time and recently returned to the international spotlight when, a few months back, the Fund indicated debt relief was a precondition for its participation in any further aid for Athens.
More recently, the IMF released a report on Greece’s debt sustainability just prior to the referendum. The timing appeared to be strategic and may have helped secure the "no" vote for Tsipras.
Unfortunately, the IMF didn’t appear to anticipate the PM’s complete capitulation and now, the subject of debt relief has again been put off, this time until Greece officially passes the new "deal" through parliament and legislates its terms.
Today, another "secret" IMF document on the sustainability of Greece’s debt burden has surfaced and not surprisingly, the Fund is once again pounding the table on a haircut. One is certainly left to wonder if the US (and its veto power) are pulling the strings behind the scenes and orchestrating "leaks" at opportune times. Here’s more from Reuters:
Greece will need debt relief far beyond what euro zone partners have been prepared to consider due to the devastation of its economy and banks in the last two weeks, a confidential study by the International Monetary Fund seen by Reuters shows.
The updated debt sustainability analysis was sent to euro zone governments late on Monday, hours after Athens and its 18 partners agreed in principle to open negotiations on a third bailout programme of up to 86 billion euros in return for tougher austerity measures and structural reforms.
"The dramatic deterioration in debt sustainability points to the need for debt relief on a scale that would need to go well beyond what has been under consideration to date - and what has been proposed by the ESM," the IMF said, referring to the European Stability Mechanism bailout fund.
European countries would have to give Greece a 30-year grace period on servicing all its European debt, including new loans, and a very dramatic maturity extension, or else make explicit annual fiscal transfers to the Greek budget or accept "deep upfront haircuts" on their loans to Athens, the report said.
The updated debt sustainability analysis (DSA) was sent to euro zone governments late on Monday, hours after Athens and its 18 partners agreed in principle to open negotiations on a third bailout program of up to 86 billion euros in return for tougher austerity measures and structural reforms.
"The dramatic deterioration in debt sustainability points to the need for debt relief on a scale that would need to go well beyond what has been under consideration to date - and what has been proposed by the ESM," the IMF said, referring to the European Stability Mechanism bailout fund.
European countries would have to give Greece a 30-year grace period on servicing all its European debt, including new loans, and a very dramatic maturity extension, or else make explicit annual fiscal transfers to the Greek budget or accept "deep upfront haircuts" on their loans to Athens, the report said.
It was leaked as German Finance Minister Wolfgang Schaeuble disclosed that some members of the Berlin government thought Greece would have been better off taking "time-out" from the euro zone rather than receiving another giant bailout.
The IMF study said the closure of Greek banks and imposition of capital controls on June 29 was "extracting a heavy toll on the banking system and the economy, leading to a further significant deterioration in debt sustainability relative to what was projected in our recently published DSA".
The latest IMF study said Greek debt would now peak at close to 200 percent of economic output in the next two years, compared to a previously forecast high of 177 percent.
Even by 2022, the debt would stand at 170 percent of gross domestic product, compared to an estimate of 142 percent issued just two weeks ago. Gross financing needs would rise to above the 15 percent of GDP threshold deemed safe and continue rising in the long term, the updated IMF study said.
Moreover, the latest projections "remain subject to considerable downside risk", meaning that euro zone countries might have to provide even more exceptional financing.
The IMF study also appeared to challenge the assumption by some European officials that Greece will be able to meet some of its financing needs from the markets in 2018.
"Borrowing at anything but AAA rates in the near term will bring about an unsustainable debt dynamic for the next several decades," it said.
Greece debt/GDP to reach 170% by 2022 vs 142% expected two weeks ago, and peak near 200% in next two years - updated IMF analysis
— Jamie McGeever (@ReutersJamie) July 14, 2015
As Greek parties agonise over Summit Deal, IMF debt sustainability update spells out: it cannot work without partial debt write-off
— Paul Mason (@paulmasonnews) July 14, 2015
IMF finally says what they think about Greece http://t.co/JWH2Mj9Nrm (via @ForexLive) pic.twitter.com/NnshywvgG8
— Fabrizio Goria (@FGoria) July 14, 2015
In other words, the IMF is now openly at war with Germany (and its sound money compatriots like Finland) over debt forgiveness, which futher underscores the split in Europe between the German bloc and the those who favored leniency for Greece, and, by extension, a relaxation of the doctrine of strict fiscal discipline that has dominated EU politics (in word if certainly not in deed in the periphery) since the onset of the European debt crisis.
Of course any debt haircut for Greece will only serve to embolden other periphery debtor states, especially those where Syriza sympathizers enjoy growing support ahead of elections. In short, if parties like Podemos in Spain perceive that Germany has blinked on debt relief they too will push for writedowns, something we outlined in detail after the last IMF "leak" in "Did IMF Just Open Pandora's Box."
* * *
Summing up the US/IMF message to Germany:
»
- 90225 reads
- Printer-friendly version
- Send to friend
- advertisements -
If the Greek government is forced to downsize and live within their means, won't that mean the government will be smaller? Won't a smaller government mean more freedom and less taxation? Won't that mean unnecessary military investments? If you have a sustainably sized government you could always tax the shit out of banker interests. You could even prosecute them as financial terrorists. You can't touch them while your addicted to debt, but afterwards they would be open game. Interesting times... Maybe tthe IMF is really worried about sovereign nations losing their narcotic dependency of debt servitude. Maybe they believe this little exercise in fear has gone too far?
exactly, and they will be forced to if they exit euro. That's why everybody want to keep them in at any cost, including their treasonous errant marxist "leaders".
" ... including their treasonous errant marxist "leaders"."
Treasonous.
When I read that word, it occurred to me that ... unlike Tsipras ... at least Judas had the decency to hang himself.
Interesting Varoufakis here:
http://www.kitco.com/news/2015-07-14/-I-m-On-Top-Of-The-World-Yanis-Varo...
“I’m On Top Of The World” – Yanis VaroufakisBy Daniela Cambone
This Interview was conducted prior to Monday's deal
Looking more and more like, not content to have started World War I and World War II, Germany is now doing its best to start World War III.
So stealing money from the German people to give to lazy Greeks who refuse to work on the books to pay for what they beg for is the only thing that will stop WWIII? You are trash and a bore... \BTW France and Russia started WWI and there is now proof as the French wanted lands stolen from Germany and lost to Moltke's brain in 1870's while the Russian wanted Prussia for themselves. The French and the Brits are responsible for WWII through reparations and the black treaty of Versailles.
You have forgotten to add to your knowledge of history that the Earth is flat
Get back to me on that after Germany pays its war debts okay?
40 years of anti-Iranian western propaganda since the US puppet Shah was deposed by the people of Iran. 60 years of propaganda against Cuba who tossed out US interests. US begging for "friends" now that they are alone and in a sea of c/b monetary stupidity.
Will look back on this day and call it the day the US$ died.
>> Lagarde
>> Schauble
Celebrity deathmatch, but for real.
Two men enter, one man leave!
The US taxpayer must chip in.
For what purpose shall we throw good money after bad?
To delay the consequences of the oncoming meltdow which will serve to make it worse when it does happen?
You are fucking nuts. This game needs to end now. It will kill Hundreds of Millions at this point guaranteed. Are you asking that I pay so that the Death Toll rises into the Billions?
FUCK YOU.
Agreed. This paradigm is unsustainable. If you forgive government debt. Governement largess just grows and consumes more. If you impose austerity, the government consumes whatever internal wealth the population posses until nothing of value is left. In both cases the people suffer. The debt is global, and therefore every nation will suffer under increasingly desperate governments. After draining the host nation a government will look outside of its borders for another's treasure. Next stop global war. Probably mad max. I always wondered what happened to those ancient civilizations. I think I know now.
Tall Tom, I agree with your anger. Forget about Greece for a moment and answer me this: are you equally angry that you have been, are being, and will be required to pay more of your hard-earned money to the IRS? Why is bailing out Europe/Greece any different than bailing out the US via IRS demands? It's not.
Where would we be getting good money from?
By the way T.T. I think your last question is part of the Big Plan.
The answer is about 6.5 billion give or take.
Problem is, that will break supply chains to such a degree that anybody who is pushing for it will be fucked. There are real world problems that arise when you whack 90%-95% of the population that cannot be overcome by ideology. This is not a problem that can be solved, but rather it is a predicament that would have to be survived.
The US taxpayer already has been pitching in, whether they know it or not.
Greeks waiting in line at an ATM .... sub-Saharan kids waiting in line for a fistful of wheat .... stop with the Greek victim card .... already .... and of course that scarecrow Lagarde will try to make the Germans pay !
Earlier they used tanks, now they use banks. / Varoufakis.
and he's still asking for more, instead of pulling an Iceland
This is weird. I'm agreeing with the IMF? Alice, we've gone through the looking glass!
What's real? What isn't? How can I know?
99% of all Greeks .... live within an hours drive to the sea .... let them eat fish and octopus .... Greece will be so busy begging for more greedy debt ... it will have less money to donate in foreign aid .... oh wait, they don't give any foreign aid .... they just take .... take .... take !
"they don't give any foreign aid .... they just take .... take .... take !"
Sounds a lot like your home land, israel.
Judea declares war on Germany. Woops, I mean IMF...
Debt relief would just let Euro taxpayers off the hook.
Greeks still needs more funding just to stay alive even without the debt.
Because that's just how fucked they are. Tsipras had to sit thru that bad dog rolled-up newspaper beating because everyone knows it, including him. Their bluff didn't work and Shaueble &Co. doubled down.
Greece is a failed state posing as a developed country.
The power of rampant Socialism Coupled with crony corruption.
Basically the US model without the power to print.
zerohedge @zerohedge 2m2 minutes ago
damange control: EU SOURCE SAYS EURO ZONE LEADERS KNEW OF LATEST IMF DEBT ANALYSIS FOR GREECE BEOFRE AGREEING ON THIRD BAILOUT TERMS..
That proves it is a coup by psychopathic banksters bullies
Just when Germany finished blowing its load in Greece's ass, it feels an even larger cock at its backdoor.....
...which was not a surprise, since the whole exercise had been a series of flip-fucks from the get-go, and it was now Germany's turn...
The Shit Show vs. Reality - a study of human history easily confirms that the Shit Show gets taken to the woodshed and is badly bloodied.....
Even if debt is offered completely interest free, Greece is running perpetual Current Account Deficits (CAD) so nothing is solved.
A haircut is useless. TARGET2 already provided one for YEARS by treating PIIGS sov-debt as AAA (ridiculous) to avoid market haircuts. It doesn't work.
The Euro cements in place Greece's Current Account Deficit because it is impossible to disadvantage imports via loss of international purchasing power under a devaluing currency.
No amount of reform can ever make the Greek economy superior to Germany's so the CAD will continue forever.
Selling assets provides temporary relief but then exports positive revenue streams meaning that future CADs will be even worse.
A single nation United States of Europe solves this by making Greece equivalent to East Germany following reunification. That was always Soros et al plan, but EUROPEAN PEOPLE DON'T WANT IT!
German banks lent to Greeks who used the money to buy German goods and services. The money just shifted internally within Germany from banks to industrials. The black hole left in the German banks following a Greek default is covered by deposits of German industrials meaning that it's Merkel's reversal problem now, not Greece's. Did Greece really think it was going to earn money back from German Industry to pay debts to German Banks? LOL! Does Greece have a BMW, Volkswagen, Siemens, etc? Nope and it never will.
Open market FFA is bullshit. The players have different skill levels which is why, if you want a competition, you must have a handicap system or skill-based separation of leagues, something that every professional sports administrative body on the planet understands. Unless Major League Germany accepts a big handicap, Little League Greece can NEVER be competitive.
Seeing as that's never going to happen, it's time for Little League Greece to stop showing up to the Major League games. Only an idiot keeps playing an unwinnable game.
Default and leave the Euro already. If Germany insists on kicking the shit out of Greece while it's down then that just shows the world what a collection of cunts German leaders are. Like a heavyweight boxer knocking down a child opponent then jumping around celebrating like he's some kind of fucking hero. Only YOU think it you prick.
The Euro puts kids in the ring with heavyweights and lambasts the kids for not being "competitive". It's a sick joke.
In the end, so much effort for...nothing.
Inscription on the EU's tombstone.
"Open market FFA is bullshit. The players have different skill levels which is why, if you want a competition, you must have a handicap system or skill-based separation of leagues, something that every professional sports administrative body on the planet understands. Unless Major League Germany accepts a big handicap, Little League Greece can NEVER be competitive.
Seeing as that's never going to happen, it's time for Little League Greece to stop showing up to the Major League games. Only an idiot keeps playing an unwinnable game."
Beautifully and concisely stated. And, using sports analogies to boot! Someone like you ought to be writing copy for our American news media, because this is what's needed to get through to the average brain-befuddled American TV watcher. Their eyes glaze over with all the talk of currency valuation and trade imbalances...it needs to be translated into 'sportsese'...
Good post.
IMF vs. EU commission; this is all staged to use that old strategy of "divide and conquer". The leaks are timely and designed for a specific response by the people and other participants. The German business class and people would like to leave the EU while the political class (Bankers & Murder Inc) want to keep the EU together to plunder all the nations. This is happening all over the world, in North America, In the Middle east, and Europe. It will continue until something breaks and contagion spreads across the globe; could be years.
The Germans hate the French anyway.
Especially a skanky French bitch like Lagarde.
She's more of a lizard than a bitch.
Fifth-columnist reptilian...
Greece is like Detroit...not able to print their own currency, spent all their currency, people worked and thought all the city promises would last at least during their lifetimes, borrowed until their creditors balked at lending more, got all their wise politicians and went to Washington...layed it out on the table on why they needed more time and money...got turned down..declared bankruptcy..and yet life went on...except Greece has yet to be unplugged from the Eurozone lifeline...so the Greek tradegy continues on...
Have you been to Detroit Lately?
What happened to this event: http://www.zerohedge.com/news/2015-07-13/greece-fails-make-another-imf-l...
Please.....
The IMF is a 100% proxy of the U.S. The game being played is good cop vs bad cop (Lagarde vs. Merkl).
Two sides of the same coin.
Like Reps vs Dems
Kabuki theater.
More like Bukkake theater.
The Greek people were betryed by Syriza and the fix may have long been in with Varoufakis and Tsipras. Now anything and everything of value the Greek people have built over the years is to be turned over to the bankers entourage of corporate patsies. I'd fucking burn the parliament down as a nest for vipers if I were Greek...glad I'm not. This series of events is what waits for all nations in the final analysis of the credit-debt-money ponzi the bankers are running on all of us.That is unless we change the monetary system to save ourselves the same fate Greece is getting
Everyone is looking in the wrong direction and drinking the disinfo kool-aid. Germany is of course, using Greece as a pawn, but not for the reasons everyone thinks. The primary purpose is not specifically to put the fear of god into France and the PIIGS as a whole. Nor is this some head-butting contest between the IMF and Europe based on purely ideological differences. This is about freeing Germany from 70 years of Occupation by a US government that has now grown into a monster fascist surveillance State and perpetual war machine with a death-grip on NATO.
How? Germany's seemingly irrational stubbornness over Greek debt is been meant to force Greece out of the Euro from the very beginning --not to politically prove anything to the rest of indebted Europe (although this may represent a "twofer" in the course of events) but to destroy Goldman-Sachs, who is liable and leveraged for tens, perhaps even hundreds of $trillions in the daisy-chain of derivatives. When the IMF says that Greece needs a "massive" bailout, they really, really aren't kidding.
To the Germans, this provides a once-in-a-lifetime opportunity and, being Germans, they're going to grab this thing by the throat until it stops wiggling. They have set out to destroy the dollar as the true basis for US hegemony with a feint to the right. It's a black-ops charade. Ergo:
Deutchland uber alles; Amerika kaput!
No war with Russia. Germany becomes a world superpower once again; joins the Russia/China-sponsored Euroasian Trade Zone; and its economy soars while the US becomes a smoldering heap of economic rubble with a third-world currency.
voila!
Dreams.
It's called 'Realpolitik'. Created and defined by Germans...
I upvoted both of you, for I like that dream...
Makes me a little more sympathetic to the Germans. It is a shame that the Greek people are suffering because of a banker Jello wresting match.
Every day a new laugh. Of course I am not in Greece.
The IMF traditionally goes around forgiving the debts of small bankrupt countries - at the expensive of the IMF (or US taxpayers). But because of the EU structure, it cannot re-shape Greek debt. Another 86 billion bailout is needed? Sure says the big EU banks - add that on top of the other Greek debt - and we want it all paid back! Impossible!
IMF = World's HYPER-Coercive Collectivists
First they will force countries that have productive economies to subsidize the countries that do not have productive economies, ie country-to-country redistribution
BUT THEN
the IMF and their allies in each country, ALL now HIGHLY socialist, will impose severe redistribution from individuals who have earned money to the failures who have not.
Socialism is MUCH MORE insidious than cancer - if you allow ANY of them to live, they will multiply and eventually consume the productive hosts. The ONLY effective way to deal with socialism is to eradiate it TOTALLY.
Is there such a thing as negative IQ?
Yes, negative IQ is a reality - look in the mirror and you will see a perfect example :-))
This isn't only about the US fearing that Greece will turn from NATO which Greece will NEVER do because we are mortally fearful of the Turks (this one of the foremost reasons Greeks fear the Grexit, that one thing can lead to another and voila there goes Thrace - after all it happened with Cyprus). This is also the US fearing that they will lose their protectorate over to the Germans, who will then carry on to steamline it as a Vegas of Europe, an ultra-capitalist buffer state between themselves and the madness that is the Middle-East. If just a few things change (labyrinthean and corrupt public sector and legislation), Greece is an oasis for capitalist growth, but it's too far for the troubled US to implement. The US want to retain the status quo not because they fear of Russians but because it's profitable as it is. They fear that the Germans can turn Greece around into a valuable "western-world" asset. US commentators fail to see this "ugly" truth. The fact that Greece has been playing for "Team USA" for so long.
Despite supposedly anti-American sentiments in the general public due to historic reasons (Civil War of 44-49, Vietnam War amidst the "left" 60's, Military Junta of 1967-1974, Yugoslavian Wars), there is no other people in the world that's more Americanized than the Greek people (except of course for the UK, Australia and so on). It's a thing that runs deep. We have the attitude/culture (average Greek passes each evening watching US-TV series and whatnot), but we don't have the economy. The Germans/EU don't want to attack the greek goverment, they want to beat the greek populace into being "capitalists but of the good european/solidarity/efficient state sort". Just look at what happened in Cyprus and think of it big-scale. Cheap, profitable and self-serving holidays/retirement for all of Europe. This is their plan. To come over, terminate the Greek state and reshape the whole population into a "european" one. The Greek is something like the Jew now. A (let's assume) ancient people that somehow feels parasitic because it won't fall in line with "our" way of life. It has to change. It's not about the government or the lands (well, it is a bit about the lands), it's about the people. De-balkanize and de-americanize them if they want to be a part of "our" Europe.
ex. In Greece there has been a long history of the "family doctor". You called the family doctor and he would sort small things over the phone most of the time, free of charge. At the same time, there was a high probability that he could possibly tax evade in the other occassions when he accepted payment. They want this practice to change (just an example of what I mean by attack our way of life) and indeed they have managed to change practices like these amidst all the terror and anxiety that's going on. This is unacceptable for them, they want everything to be centrally planned and ran by-the-book. They want to reform Greece into something more "coachable". This is the same old Indians vs Cowboys, conquest of the Wild West. They have had enough of "the old Greek", now they want to assimilate the people. This is the plan long-term if they can manage to get out of the short-term crisis (we all doubt that).
For those idiots who think Greece is fucked, Greece is an eden that's up for grabs. It has a near perfect climate, extensive natural beauty, cultural heritage, untapped resources, is underdeveloped, multi-language speaking population that's not Mameluks, you can't buy/manufacture these things. You have to grab them, while you still can.
Great comment Steve...that's the most hopeful comment/write up I've seen on the topic since the whole debacle became centre-stage of the World Currency plan. I'd guess most people commenting here on ZH probably haven't been there for long, if ever, so see this discussion in terms of Central Banking and stereotypes. Thanks for bringing that human aspect into the forum.
I love Greece, and for the most, the Greek people. Especially their anarchic temperaments and tendency to give 'authority' the bird. The Greeks I used to hang out with LOVED life, and LOVED living. Even when it was hard. Complex, just as the pantheon of very human Gods of Mythology, contradictory, and often confused. Not surprising with their less ancient history (the Junta was deposed just 7 years before I went there, and the Ottoman influence has badly diluted the immense 'class' of Classical Greece, the birthplace of Democracy: AKA consensus mob-rule).
My ma re-married a Greek and moved there from Australia for 20 years. I was living around Europe for 28yrs, mostly based in London, but rented an old farm cottage on Paros for 15 of those. Was a documented resident for 2, and worked on Cultural projects (so not just a tourist), and was otherwise regular visitor. Can read, write and speak reasonable Greek, and am watching this tradgedy unfold with buckets of tears in my heart.
There is so very much to love about Greece...(and much that frustrates when there). The landscape/seascape is mesmerisingly beautiful, but it's the people that makes the place what it is. Complex, for the most, open, spontaneous lovers of life and living. I was living on Paros when Greece joined the Euro. Had many friends of many nationalities, including many Germans who brought Dmarks down and built massive mansions that Greeks couldn't with the Drachma. The Germans did very very well out of Greece, and are some of the most contorted and disgusting arrogant Sheizzballs I've ever met (have beautiful German friends too). They weren't liked much, but their money was. I know a thing or two about what went down during that period (I also speak German), and had raging debates about whether it was a good idea to join European Union and currency.
Joining the Euro destroyed much of what was good about Greece, and brought out the worst in greed and excessive egoism. Now it seems it's their demolition. And self demolition also. I hope you're right, and this does not destroy the people as well..I'm sending love and best wishes to the people of Greece. Know that there are millions of good people watching the rape of your soverienty and land, feeling totally helpless and afraid for you. We know it will be our turn soon. It's becoming clearer and clearer by the day.
Peace.
PS Edit..it just occured to me that Greek LOVE OF LIFE is what the Death Cult want to extinguish...in ALL humanity..
You bet they would want that! Like I said they now want to portray the Greeks as the new Jew/parasites of the ultra-state. In the meantime statistics show that Greeks now WORK THE MOST HOURS in Europe, to no avail. It's just that the state is failed (and has always been) and that our mindframes are not efficient in their capitalism-scam-game. Average Greek doesn't even know what the Forex is. But it's ok, don't worry too much. Sooner or later it will lead to a meaningful change. In case some people don't realise it - the latin alphabet is virtually greek, the cyrillic alphabet is also virtually greek. That is to say that Greece is the mother of next to everything not just "their" Europe. They just went and messed with the wrong guys lol. The Greek country and mind holds so much potential that there is no telling how the whole situation will play out in the coming decades. We're just out of a turbulent adolescence period, raised by abusive parents. But mark my words, sooner or later, you will see Greece being an overally better place than you knew it to be. We've done many mistakes (ugly cities, ugly urban lifestyles, ugly thoughts) but if we manage to get out of this situation in one piece, we won't make the same mistakes ever again. Greece is getting ready for the next-era of global affairs. The question is, are you? (that's a general "you" right there)
Nice post about the things money can't buy. I see pictures and it looks like something I would love to explore for a long time (if I felt safe)--beautiful. It would be a shame to homogenize it.
Modernizing means losing the culture is what I am hearing from you. But to not modernize means they have to accept a lower standard of living than they are being conditioned to want. Very old problem. When it does get "protected" much of the time it is Disney-a-fied.
In the US, a lot of folks have left the grid. They know what they want to preserve and they consciously chose to live a simpler life with less (often after saving up for it). Sounds like this is the kind of movement there needs to be in Greece, living simply not just because there is no other choice, and you see yourself as deprived and impoverished, but something conscious that says we are doing this because what we have is good and worth saving.
Thought provoking post. Thanks.
Exactly, this is what we need. We need a meta-modernization plan. Thanks guys for your posts!
That's looking less and less necessary. Although I'm a natural optimist, I think a pessimist is an optimist who knows too much. During my last 5 years as an enviromental campaigner I've researched a lot about Fukushima, geo-engineering, methane, Technocracy and the GloBAAL power structure, plus the wild card: what's coming in from 'out there'. I'm pretty much off-grid, but that may be pointless. No plan is the new plan. Apart from surrendering to my destiny, and getting a deal in place with my Creator. Good luck to all in the coming months, or years if we get that far...
Fukushima:
www.enenews.com
Geo-engineering & methane:
www.geoengineeringwatch.org
Celestial shenanigans:
http://www.planet7x.com/
Caravan To Midnight - Episode 305 Incoming: Planet 7x with Gill Broussardhttps://www.youtube.com/watch?v=bQDeKV7tHtA
That CTV episode was pretty interesting, eh?
"For those idiots who think Greece is fucked, Greece is an eden that's up for grabs. It has a near perfect climate, extensive natural beauty, cultural heritage, untapped resources, is underdeveloped, multi-language speaking population that's not Mameluks, you can't buy/manufacture these things. You have to grab them, while you still can."
Then start taking advantage of those things. Buck the globalist trend and show the world how it is done. Seriously, you're at the forefront of something that the entire world is going to have to face eventually.
Exactly what Germany intends to do.
Russia and the Eurasian integration project would seem to be a possible lifeline for you. One thing is for certain, if you accept German terms, you will not be made anew into their version of the European, you will be instead pulverised under the weight of unpayable debt into economic dust and carried off with the winds, leaving behind a Greece that Germany and its friends can privatise and exploit to the fullest.
STFU Donnie
Not to make too much of this...
But it appears that there are cracks widening between the great banking families.
Who are these families?
My understanding is that GS, and most of the NYC and British banks are now controlled by Rothschilds & Rockefellers. While the major Euro banks are controlled by the Warburgs.
They have split control over the IMF and the BIS in the past.
Very interresting that the Twin Towers had a major Warburg financial operation in it....and that Lehman Bros was a Warburg institution.
I understand that the Warburg clan is dominant in Deutschbank and SG...
So, basically, the warburgs were very significantly involved in the creation of the Federal Reserve and the subsequent Bretton-Woods system that catapulted the US Dollar to reserve currency status...who subsequently seem to have been less successful in the US, with the center of family-power passing to Europe.
And we have the Rothschild-Rockefellers who have been gaining in the US, with control over GS, BOA, and CITI...
If the IMF were to split with Europe over terms of Greece's debt situation I would read that as a split between the Rothschild-Rockefellers, of Britain-US, and the Warburgs of Continental Europe.
Globalization, like the melting pot in the USA, doesn't work.
It works when times are good and everything is growing.
Are the Greek people going to have to learn German and to love sauerkraut?
So now the IMF says Greece needs debt relief? What happened to their prior, tough stance? These people have NO IDEA what they're doing...they're just winging it, with the whole world's financial system at stake...
It was the IMF that ruled out any debt relief for Greece, just a few weeks ago. Now, they are on the opposite side, and Germany gets the lecture. What IS your position, assholes!? Pick one, and go with it for the day, okay?
Greece AND Germany should tell the IMF to go fuck itself. And BOTH should immediately default on any money owed to them. Then arrest their members and put them on trial for financial terrorism.
Y'know, a short tour of Switzerland, including that fancy gold IMF building, by a regiment of Leopards and Marders would solve it.
Charles Smith articulates the fubar in Europe brilliantly. Succint, cogent and spot on. Go to http://www.oftwominds.com/blogjuly15/Greece-fantasy7-15.html to see whay this is so. IMHO, the Greeks should reject this surrender without question.
Banksters kill their hosts.
Only parasites kill their host eventually, hmmmm, come to think of it.......
Greed does that, makes em' stupid.
Agreed.Nothing matters but the GS Derivatives chain.If Greece defaults (they have,but it takes the ISDA to state that it is a fact),the CDS is triggered and the insolvent Banks implode.Nothing at all matters except preventing the triggering of the Credit Default Swaps that Deutsche Bank holds.Loaning money to Greece so they can buy Diesel Subs and Leopard Tanks which they cannot afford,but which profits Germany thru arms exports.....
Who thought up this grand plan? Tourism is big industry in Greece.Who wants to go to a place where their bag gets snatched a hundred times a day? Wrong! Never happen.Default,restructure,devalue,tell the bankers and EU to get stuffed,do an Iceland....All the young,educated people are leaving Europe.Where does that leave the future?
At a guess I would say that DB and the Warburgs are heavily involved in the 'Euro Project'. They heavily bought EU country debt, with an eye on later political consolidation.
Meanwhile, the Rothschild-Rockefellers, in between bouts of fighting for eco-topia, and eugenics schemes, have sold DB, and the Warburgs generally, CDS such that implosion of Euro member states clobber the Rothschilds as much as the Warburgs...
The Warburgs want creditor-in-possession. The Rothschilds want government figure-heads to remain nominally in charge.
she did?
who was surprised?
The whole Greek crisis explained in just one brilliant cartoon:
http://www.atlanticperspective.com/greece-best-cartoon.html
Behind the Greek Debt,
by Thierry Meyssan.
http://www.voltairenet.org/article188082.html
Varoufakis ABC https://www.youtube.com/watch?v=oJczEZ7fAZ8
Jul 13, 2015 Michael Chiotinis
Spose pedo plants are involved?
http://arstechnica.com/security/2015/07/massive-leak-reveals-hacking-teams-most-private-moments-in-messy-detail/
About all that hacking last week...
Cuz China's boarse nosedived & counter NYSE, WSJ, UAL?
Tit for tat?
A new Twitter-Hashtag has taken off:
george mastropavlos @g_mastropavlos 1 hr1 hour ago
If you're wondering why #BoycottGermany is trending maybe this photo can give you a hint pic.twitter.com/je5OXxR2dS
Why is Merkel still in office?
Germany will suffer.
Get out of the EU bitch.
The next announcement will be Greece needs three generations to address its' debt.
WHAT A FARCE.
the us, and goldmans spoke person fu the eu nulands plan plan is coming together, a rent to own 30 yr contrac
t,greece gives up it's souvernty, can't make any deals with other countries, and their next 3 generations of as
sets are squeezed out of exsistance, German tax paye
rs
. ( the eu pays rent to gs for 30 yrs.,
in 2045 eu , has huge nato base formally Greece.
If the US is behind the IMF then it is just positioning itself for the same in the US: Germany represents those that have been frugal, not racking up debt/household income and saving for future while Greece equals the enititlement crowd that wants more and more from Uncle Sam but can't pay for it.
Spiteful censor of the Latin Language, read
six insolent verses of Caesar Augustus:
"Because Antony fucks Glaphyra, Fulvia has arranged
this punishment for me: that I fuck her too.
That I fuck Fulvia? What if Manius begged me
to bugger him? Would I? I don't think so, if I were sane
"Either fuck or fight", she says. Doesn't she know
my prick is dearer to me than life itself? Let the trumpets blare!"
Augustus, you certainly grant my clever little books pardon,
since you are the expert at speaking with Roman frankness
Some things never change.
Now that the Banks have been re-iquified by The Fed's QE ^ programs (how much was printed is still a mystery....don't believe the $3 Trillion number) they are ready to hair cut all the bad loans, sovereign and corporate out there, experinec some deflation (lowering asset prices) then re-engage with inflation.
Most smart guys know this... it is just a question of timing. The only people that are privy to the timing is the Fed and innwer cheesepopes and their proxies.
Its a done deal.
It's all about the sunbeds on Glyfada beach.
The Germans get hammered so much for hogging them from 5a.m. every day they want to "own" Greece, thereby dismissing other tourists who whine about the sunbed problem.
Thus: "zees sunbedz are belong to uz. Don't you dumkoffz underztand zat? Ve vill uze zem venever ve vant."
It was not "secret" at all to the Germans, nor Mrs Lagarde! Your headline is deceiving, as if to say the IMF had kept the report secret until after the newest can kicking farce.
Funny how you edited out this paragraph!
Germany and all the northern EU Countries have known all along that the PIGS debt is unplayable and that the longer the haircut is delayed the larger and faster it will grow. Truth be told, the USA is in worse shape and the hour the PIGS default will be Armageddon for the Western Powers, who's wealth is our debt!
The Eu Finance Ministers spent all weekend fighting over minimizing the debt relief, through raping their assets, knowing the stated debt relief announced Monday was vastly inadequate, purposefully so. They don't want to decrease the amount of debt, they want that number to grow! They're just fighting over this months payment on the debt and they know it!
This story is a propaganda piece aimed at confusing the People of the world!
Playing the pavlovian reflex with the "XXX declares war on Germany!" cultural meme. Typical.
http://www.redicecreations.com/ul_img/5951judeawar.jpg
Boycott of german goods?
You cant miss this picture in some parts of the internet.
IMF has no teeth, just yapping in the background. Markets have moved on and markets will care less whether Greece is a wasteland.
Agent Troika has delivered to their veiled Masters.
All the props past, present and future are assembled with some semblance of respect for the democratic process and global supervison via IMF in order to deceive Preys.
No losses for the 1% remains pre-eminent.