currency

Colonization by Bankruptcy: The High-stakes Chess Match for Argentina

By Ellen Brown *

If Argentina were in a high-stakes chess match, the country’s actions this week would be the equivalent of flipping over all the pieces on the board.

David Dayen, Fiscal Times, August 22, 2014

August 27, 2014 “ICH” – Argentina is playing hardball with the vulture funds, which have been trying to force it into an involuntary bankruptcy. The vultures are demanding what amounts to a 600% return on bonds bought for pennies on the dollar, defeating a 2005 settlement in which 92% of creditors agreed to accept a 70% haircut on their bonds. A US court has backed the vulture funds; but last week, Argentina sidestepped its jurisdiction by transferring the trustee for payment from Bank of New York Mellon to its own central bank. That play, if approved by the Argentine Congress, will allow the country to continue making payments under its 2005 settlement, avoiding default on the majority of its bonds.

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What Greeks truly think about their predicament and what the world media will not tell you

 

by Stavros Katsoulis*

There is a well orchestrated operation of disinformation regarding the situation in Greece spreading worldwide. It is especially widespread in, what we know as, civilized countries, and even though informed citizens of these countries now know that disinformation is the classic modus operandi of the media moguls operating in these otherwise ‘democratic’ countries, the narrative on Greece follows the same path, and it is easy for anyone to be mislead by it. Any attempt by the average listener to become informed on the true situation in Greece by these media outlets, results in the same falsified news, as the same ‘story’ is repeated ad nauseam:

Greeks are patiently and quietly waiting for their incredibly capable government to pull them out of this crisis, and save the day.

The mainstream media also make sure to repeatedly mention the ‘fantastic help’ that is being given to the Greek people by their ever-righteous ‘partners’ in the European Union. On top of that, an outpouring of ‘kindness and loyalty’ is bestowed upon the International Monetary Fund by the mainstream media – as is always the case in these on-going, tragic situations in other parts of the world. Finally, the Banks are being portrayed as always trying to do their best to help these countries. In addition to the above, the media make sure to constantly remind you that they are treating the whole situation with extreme understanding and sensitivity, as their one and only noble goal is to tell you the truth, the whole truth, and nothing but the truth – so help them god.

But none of these distinctions could be further from the truth. The Greeks, being fully submerged in the reality of this crisis on a daily basis, experience and see things in an entirely different way. They can no longer be fooled by international or internal mainstream media outlets, and their meticulously applied PsyOp (psychological operations).

The following facts portray the true perceptions of the Greek people, their awareness of the actual situation, and more importantly… their awakening.

FACT 1: Greeks do not look at the financial aid they are supposedly receiving as aid at all.

Contrary to popular international belief, Greeks understand that they are not getting – nor ever got – any help, whatsoever, from their so-called ‘partners’ in the European Union. And they are correct: No sensible mind would consider mounting mandatory extortionary debt – piled on top of existing debt, where the additionally borrowed money doesn’t even go to the country borrowing it, but rather back to the banks loaning the money in the first place – as ‘aid’ or ‘help’.  All that’s left is multiplying debt, with no end in sight.

Greeks can’t be expected to be grateful for something that is nothing more than plain extortion.

FACT 2: Greeks dont trust their political system anymore.

Greeks see their current government – including the previous two – as nothing more than traitorous. In fact, what has transpired since the beginning of the Greek crisis, in the minds of ordinary Greeks, is nothing short of treason: Officially since May 6, 2010 Greece’s national sovereignty and rights as a nation have been abolished willingly and irreversibly, by its own politicians. These politicians, in the eyes of the Greek people, are nothing more than mindless puppets who have given free reign to external powers. And while other countries have laws to prevent politicians from discussing internal affairs with foreign entities – one example being the ‘Logan Act’ in the United States – this is no longer the case of Greece, as the ‘Troika’ (European Commission, ECB, IMF) made sure to have any such rules disappear: these ‘common-sense’ laws, stating that the people of a nation be able to make their own internal decisions, do not apply to Greece anymore.

To the Greek people, treasonous acts are blatantly occurring before their eyes on a daily basis. How could anyone, in their right and Patriotic mind trust such a political system?

FACT 3: Greeks do not trust their EU partners in any shape or form.

If they were to decide, the Greek people would leave it all behind. Austerity being forced upon the people, is but a small fraction of the problem. Greece, or any member state for that matter, by entering the EU and adopting the Euro, has lost the ability to govern itself for the good of its people. For years now, the EU has been imposing its own sociopathic rules on entire populations it knows nothing about. Even worse, it has been applying policies which clearly benefit a small, select group of interested parties who lobby at the highest ‘EU level’. The Greek constitution – like many other national constitutions – was required to be modified in order for the country to continue being part of an evolving EU: Article 28 of the Greek constitution, which defines that all EU law is to supersede any local law, is the corner-stone that Greeks believe sacrificed their country for the sole benefit of the EU.

Today, ‘who decides’ about Greece’s fate has been taken to a whole a new ‘dictatorial’ level, with decisions being made by unelected EU officials. For the Greeks, the Euro, and the way it’s being used by the EU “feudocracy”, has now become a much hated currency, and it should come as no surprise that most Greeks don’t want anything to do with it anymore. European nations are slowly waking up to the fact that EU federalism may not be good for them after all. Increasingly, the citizens of Europe are realizing that Chancellor Angela Merkel and her EU ‘partners in crime’ are imposing their anti-democratic policies upon Greece and the periphery, while gradually abolishing democracy all around Europe.

But for the Greeks very bad things have happened already: the EU ‘tools’ were put in place a long time ago, and the rapid, violent destruction of an entire country and its people, started way back in the day. Ordinary Greeks now want out.

FACT 4: Greeks see Democracy being abolished in Greece and EU-wide.

The current Greek government with its norm-breaking extended form of coalition does not even represent a third of the popular vote. By now, this could even be representative of a figure as low as 1/5 of the popular vote, or even lower. Thanks to stretched-out electoral laws, most MPs have been voted into their positions by a mere few hundred votes. Yet the government, blatantly ignoring the fact that it represents hardly anyone, and circumventing normal parliamentary procedures – even the old corrupt ones – continues to methodically apply the policies dictated to them by the ‘Troika’. Greeks know by now, that all these policies are created and compiled in the darkest dungeons of the corporate fascism found at the core of the EU. It’s no secret, as they are shamelessly told this by their own ‘leaders’. Every time any new, deadly austerity measure is being ‘negotiated’, Greek ‘leaders’ tell their citizens the exact same thing: “The ‘Troika’ must decide on that. We must wait for the ‘Troika’ to decide on whether an objection to a measure can be accepted or not.” In addition to the above, Greek Courts are called to decide upon – and support – absolute unconstitutional laws for that matter. Basic and fundamental human rights are being violated every minute, and the justice system chooses to turn a blind eye.

Greeks were the first to violently learn what other peoples of Europe are now getting to experience, or are slowly realizing: Democracy in Europe is gradually, painfully, and irreversibly being taken away from its citizens.

FACT 5: Greeks expect nothing from the Opposition.

The ordinary citizen of Greece doesn’t seem to consider the opposition parties as relevant. While the so-called ‘government’ of Greece continues the destructive ‘reforms program’, Greeks are witnessing the lukewarm role played by the Opposition. In fact, the main opposition party is no Opposition at all. By merely playing ‘spectator’, and being quite silent all throughout, it has proven, despite claiming otherwise, that it is, indirectly, quite supportive of every decision taken by the financial occupiers of the country. By not refusing to discuss with the sources of corruption and greed, the members of the Opposition thus prove that they approve of the institutions destroying the country. And even though they claim that they stand up against the system in their usual ‘left-leaning’ rhetorics, in the minds and hearts of ordinary Greeks, they look like nothing more than accomplices.

One would think that the main opposition party would attract innumerable sympathizers, since massive austerity is responsible for the deaths of thousands of Greeks. Yet, as even the easily disputed ‘official polls’ suggest, the Opposition has epically failed to convince the people of its sincerity: its numbers are usually equal or slightly higher than the governing party’s, all figures being extremely low.

FACT 6: Greek citizens do not just want a new government, they want a complete change from the ground up.

Conventional knowledge tells us ‘elections are the cornerstone of Democracy’, but that’s filling the minds of people with blatant lies. The truth to the matter is, that the cornerstone of Democracy (demos: people kratos: power) is that the power must derive directly from the people, and this on an ongoing basis: Democracy is thus a system in which the ‘power to the people’ is both mandatory, and made possible. Is there at all then, a country which has such a Democracy in the 21st century? True Democracy is hard to find, as it seems it’s something to be avoided at any and all costs by the powers that be. Why give ‘power to the people’ when your interests, within a given system, are supported just fine… There is no reason why – so the current system will not allow it. Yet the Greek people seem to think otherwise.

Historically and culturally, Greeks highly honor their personal and social liberties. One could even argue based on historic facts, that this feeling seems to be stronger among Greeks, than it is among many other nations. Freedom is not something the Greek people give up easily, despite the abuse they have let their rulers impose upon them for the past three years. There are already practical, undeniable signs, that the situation cannot go on indefinitely. Millions of ordinary Greek citizens who always paid their taxes are now ignoring current extortionate taxing laws – not to be confused with tax-evaders’ practices performed by privileged groups of oligarchs and politicians for decades, still happening today stronger than ever.

In Greece, there is emerging a new, natural resistance, in various forms and ways, against the dictatorial regime which has abolished the most basic rights of it own people. Recent history has shown too many times already, that Greeks are capable of overturning any political system forced upon them, from the ground up.

FACT 7: Greece can set an example for change, and inspire others

As stated earlier, Greeks have never relinquished freedoms and rights in the past without resistance. Unjust, deadly austerity imposed violently on an entire people, comes with the increasing feeling that the treasonous politicians’ end is nearing, and that justice shall prevail. And while people are still continuously provoked, humiliated, and subjected to even more pain, there lies the seed of resistance that is slowly seeing the light of day.

Greece is the place where Democracy was born. So it is the Greek people’s task today, to start anew, and to become once again an inspiring, shining example for the world to follow.

*Stavros Katsoulis is a member of the Political Council of the United People’s Front (EPAM). The UPF (EPAM) is a political party in Greece which seeks to help Greece return to Democracy: nullify Greek debt as it is catastrophic and genocidal against its people, exit the EU and the Eurozone, and help the Greek people found a new constitution which will defend and establish Justice and Democracy.

EPAM – International Conference on Debt, National Currency & Democracy 30.11 – 01.12.2013

Διεθνής συνάντηση για το Χρέος, το Εθνικό Νόμισμα και τη Δημοκρατία 31 Νοεμβρίου – 1 Δεκεμβρίου 2013

See updated post 15.11.2013

Euro, Bruxelles confirm: they are cheating us!

Twitter @francescofilini

Finally comes the reply to the parliamentary inquiry submitted by MEP Marco Scurria on the legal nature of ‘€ uro, and finally comes the confirmation: we are cheating. There have always cheated. First things first.

Marco Scurria asked for clarification on the answer given by the European Commission to the first parliamentary inquiry on the legal ownership of the euro presented by MP. Mario Borghezio, which said that during the issuing bank notes belong to the Eurosystem, while in the phase of the movement belong to the owner of the account on which they are charged.

Be careful because the words in official acts and in the techno-eurocratic  language must be well weighed. So the commissioner Olli Rehn answered Borghezio that  the ownership of paper notes (which are well imprinted in every language of EU the initials of the European Central Bank) is the Eurosystem.

But what is this Eurosystem?
“The Eurosystem comprises the ECB and the NCBs of those countries that have adopted the single currency. The Eurosystem and the ESCB will co-exist as long as there are EU Member States outside the euro area.” This is the definition that you read on the official website of the ECB.

So the national central banks print notes and take possession of their nominal value (eg whether to print a business card 100 has a physical cost for who coined by 0.20 cents – intrinsic value – NCBs are also appropriating of the value printed on the ticket).

Scurria asked what were the legal grounds on which it rested the statement of the Commissioner Olli Rehn:

Inquiry with written answer E-000302/2012
the Commission
Rule 117
Marco Scurria (EPP)

Subject: Legal status of ownership of the euro

In response to a written question on the same subject submitted by Mr. Borghezio provided June 16, 2011, the Commission informs his colleague that “on issue euro banknotes belongs to the Eurosystem and, once issued, both banknotes and euro coins belongs to the owner of the account on which are charged as a result. “
Can the Commission clarify the legal basis upon which is based this statement?

Comes the answer: (more…)

Eurozone: Rescuing the banks (again) or rescuing the people?

The failed and anti-popular austerity policies, along with the expensive recapitalization of European banks, bring the breaking down of the Eurozone  even closer

“2012 summer brings an eerie echo of 2008. Markets signal worry for an important category of assets”, the president of World Bank and former executive of Goldman Sachs Robert Zeilik writes in the Financial Times. He refers to the state debt situation, which is out of control in the Eurozone. Hysterical austerity policies are not effective. So, the dilemma is even more pressing: rescuing the banks (again) or rescuing the people?

The answer for Zeilik is more than obvious, of course: There needs to be a new, even more costly rescuing of the banks. Since Eurozone state budgets already suffer from the cost of the previous rescue, amounting to over 3trillion euros in the past two years, this is what he suggests: “Countries should be ready to proceed to recapitalization of their banks, with resources from the future European Stability Mechanism (ESM)”.

But, in the beginning of 2012, didn’t the ECB provide loans of over 1trillion euros to the banks, virtually interest-free? What happened to this money and how come they now need a new generous injection? This money went primarily into buying state bonds, in order to keep the borrowing costs for Italy and Spain down, so that it would not exceed 6,5% – 7%. The whole thing was a failure. A high-ranked executive of the ECB states in the “Financial Times” that a new round of nearly interest-free loans to strengthen banks’ liquidity, with over 1,7trillion euros , cannot be excluded. If this happens, it will take place in the summer of 2012.

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