Financial Fascism (Larry Levin re-post)
(Below please find a re-post from Larry Levin’s (larrylevin@tradingadvantage.
”In the prior missive I said “In the latest bank bailout via the Greek people, we learned that Puppet Papademos and Company agreed to more austerity for more cash – $172billion to be precise. In order to get this, private bondholders are being forced to accept higher losses without being paid on their insurance policies (CDSs), the ECB accepts no losses, the ECB retroactively changed all bond language so they wouldn’t lose money which radically changes all bond sales going forward, and Greece will be placed under a new wicked type of Financial Fascism by the EU that will make all decisions for the people of Greece.”
As it turns out, the Financial Fascism is worse than I thought and is getting worse by the day. Sure, I understand that if one “borrows” money one must have collateral that would be coughed up if the loan goes sour but let’s get real – none of that applies here. The Greek people are paying for bad loans made by the European banking syndicate to pay back the very same banking mafia, which was all promised by crooked politicians.
Excuse me, but aren’t the “bankers” said to be so unbelievably intelligent that nobody should ever question their actions as that would indeed question their intelligence? Isn’t it odd that when these same scum-sucking bankers make horrifically bad loans based on the KNOWN lies of known low-life politicians that all of a sudden we’re supposed to feel bad for the banking mafia’s losses? Oh, and then all of a sudden the people who had no say in the ridiculous loan arrangements have to pay for them?
I’m sorry but this is where I get ticked-the-f*c#-off, because the answer today is FINANCIAL FASCISM! The people of Greece, NOT the politicians, are paying the ultimate price. And guess what Portugal, Ireland, Spain, and others – this is your future!
According to the FT (http://www.ft.com/intl/cms/s/
“European creditor countries are demanding 38 specific changes in Greek tax, spending and wage policies by the end of this month and have laid out extra reforms that amount to micromanaging the country’s government for two years, according to documents obtained by the Financial Times.
“Among the measures that must be completed in the next seven days are reducing state spending on pharmaceuticals by €1.1bn; completing 75 full-scale audits and 225 value added tax audits of large taxpayers; and liberalising professions such as beauty salons, tour guides and diet centres.”
You see that folks? The Financial Fascists are taking away granny’s meds. Let’s take a detour for a second and consider the USSA. Do you think we can avoid this just because we’re the formerly known country: USA? How is it that the laws of finance stop at the shores of the USSA? Just because our super-large military would make John Holmes (read: other countries) blush by comparison? Really? I seem to remember that Rome, Spain, and England had that same “super-large military” complex. How’d that work out for them in the long run again? Oh wait, but this time its different, right?
By the way, there is an election coming up soon so if you do NOT want financial fascism in this country I would suggest that you vote out the current loser in office, regardless of their indifferent D or R affiliation. Just my 2-cents. Then again, I highly doubt that even that would work in this sickeningly corrupt country. (Not one bankster is behind bars for the housing scam and/or 2008 collapse, etc)
Back to the sacking of Greece…
According to the New York Times http://www.nytimes.com/2012/
In the fine print of the 400-plus-page document — which Parliament members had a weekend to read and sign — Greece relinquished fundamental parts of its sovereignty to its foreign lenders, the European Commission, the European Central Bank and the International Monetary Fund.
“This is the first time ever that a European and probably an O.E.C.D. state abdicates its rights of immunity over all its assets to its lenders,” said Louka Katseli, an independent member of Parliament who previously represented the Socialist Party, using the abbreviation for the Organization for Economic Cooperation and Development.
Ms. Katseli, an economist who was labor minister in the government of George Papandreou until she left in a cabinet reshuffle last June, was also upset that Greece’s lenders will have the right to seize the gold reserves in the Bank of Greece under the terms of the new deal, and that future bonds issued will be governed by English law and in Luxembourg courts, conditions more favorable to creditors.
What happens when the banking syndicate steals the Greek gold and then drops Greece from the EU? Let’s look at a mathematical formula. Greece – gold = Zimbabwe.
Call me crazy but when a bunch of global banking thieves loan money out at interest, they should be responsible for the consequences if said loans go sour. What’s happening, however, is that these bastards are getting away with stealing what’s left of a county’s dignity, assets, and its national sovereignty.
I simply cannot believe that the people of Greece haven’t revolted to the point of a coup d’état – a genuinely new government.
For better or worse, at least the thieving banking mafia wouldn’t be in charge!”