March 28, 2013
B= Brazil (Gold)
R= Russia (Gold)
I= India (Gold)
C= China (Gold)
S= South Africa (Gold) South Africa alone, holds <40% of world gold reserves.
For the lighter side see http://futurenewsheadlines.wordpress.com/
October 30, 2012 1 Comment
I find myself today, revisiting comments I’ve made in the past, regarding the EU and it’s direction, with a focus on the average citizen’s suffering, due to forced austerity. I’m not sure any nation in the EU, accepted or expected “The Brussels, Financial Inquisition”. To clarify my feelings on this situation, I will use Greece as my example.
The Greek people have seen the many methods and pressures, that have caused a forced loss of their national sovereignty. Austerity and budgeting changes, conforming with the policies and practices of the German Bundesbank. These changes, required by the EU, don’t conform to the needs of the people and their government, anywhere else but Germany. These dictated mandates, by the ruling factions in the EU’s fiscal framework, serve only to raise fear in the affected nations. Fears of a lost culture and fears of lost social connections, are in the public’s mind. Rightly so I feel, as national identities are suppressed, for a Euro-centric patriotism.
The Fiscal Union, a one size fits all plan, was poorly conceived. The nation states joining, poorly vetted, regarding budgets and debts. A fly by the seat of your pants operation, with a fix-it as we go policy. A policy that has had repercussions world wide.
Bearing the brunt of the these circumstances, we find the average citizen of Greece. These are folks, who amid all the controversy surrounding tax dodging in Greece, are those who had few resources, with neither a need or the means to shelter resources from taxation. But these normal folk, are left to suffer through no fault of their own.
These forced austerity controls, roll over sovereignty. Greece will not be the only one. Greece is being used as an example. This while bailouts go directly to service debt. That means those bailout funds go directly, with small exception, right back to the banks. Serving to actually raise debt, not lower it.
This genocide of self determination, will be more apparent when children take to the streets to beg, as they do in India. The example being made of Greece, as 150 new austerity demands come from the EU, for Greece’s Parliament to pass legislation on, only prove the manipulation and pressure by the EU machine.
This tragedy will create, an even larger underclass, and causes me to wonder if the Caste system is the end game in the EU. To create the rulers and the ruled. To progress the gap between the Have’s and Have Not’s. The paths chosen by the EU monetary union, seem to support this creation of an India style, culture of classes, for the creation of a caste system in the EU.
This touches merely the edge of this issue. Human nature says to me, those with power wish to retain power. Human nature also says to me, based on the “I must have mine, before you have yours” principle tells me, this will only progress in the future. The continued siphoning up of wealth, that makes the rich richer and the poor poorer, is clearly set to continue (worldwide). As the economic and fiscal power player, Germany has returned to Dictatorship, whether they like it or not. Greece fought off the German occupation in WWII, too bad history isn’t set to repeat itself.
June 15, 2012
It is true that those countries within the EU’s monetary union, who have received Bailouts, are now in greater debt then when they first released the information about their failing economic structures, and their need for bailout. This was the original plan, not a result that has happened to occur, by mere chance alone.
Let’s look at a situation between Greece and two large Banking structures with the EU, for an example of the circumstances that face us all today. But first, it’s good to know that you can find these example throughout our world today. All one has to do is look. The first mention I’ve found describing the plan for the last 30 years of change, and it does so to a tee, was in a speech given in 1974 by Robert Welsh (John Birch Society founder, I believe). Where in he lays down step by step, way back then, the issues we as citizens, and not government and top industry officials, who are in the loop, confront today.
Here we go, When Greece had it’s debt write off, better known as “The Haircut”. Those banks who sustained losses by the writing off a portion of those bonds value were all private banks, not the EU Banking facilities themselves. Those facilities took no loss. This haircut, put stress on private banks having lost much capital. (We here, aren’t touching on the bankers choice to purchase said crap, that’s another story.)
The ECB, (European Central Bank) being what it is, and having the power and position it does, was one of the institutions that took no hair cut. In fact in there original bond purchase they were able to buy at a discount. This was in an effort to sweep the true circumstances facing the EU’s monetary union under the table, by propping up of the failing state of Greece. This action buying the EU some time to, well hope for the best. Time was and is to short to make the systemic changes needed, to each government, as they well know. From the start, that’s all they could do with their flawed plan, of a one size fits all currency, was to hope for the best.
Many bailouts later, as we push towards present time Greece, we find a back door bailout. This bailout was away from the sight of the people, as the ECB, now worried about their own future, and rightly so, because they too see the inevitable outcome, caused the Greek effect on the EU. As the contagion spreads through the EU’s Monetary Union, this plan was hatched, to perpetrate one more crime on the Greek people. The ECB forced Greece to take a loan from the EFSF (European Financial Stability Facility). The first loan they called for was 5.2 billion Euro, with 1 billion going to the Greek government to keep it going, and 4.2 billion to paid off Debt. That was only the first plan, and it was set aside for the second plan. This plan they followed through on. This second plan of forced Greece to take a 4.2 billion dollar loan. The whole loan was merely going to pass from the EFSF to Greece, and hey here’s the kicker, then would travel Directly to the ECB, because that was the debt the ECB wanted paid off.
I find this truly amusing a central bank forcing a sovereign state to take a loan to pay back it’s self, but hey that’s still not the best part, and sadly is becoming more common. When the ECB purchased those bond, the ones they required Greece to cover, they purchased them at between a 20% and 30% discount of there total value. Now as they recover on those bonds, they collected a 4.2 billion dollar payment. Strangely that is the full face value of those bonds.
If we stop for a moment and do the math on this transaction, we find the ECB recovered 840,000,000.00 Euro they were never entitled to. This action slicing more capital form the now most impoverished monetary participant in the EU structure, Greece. All this without the struggling citizens knowing a thing about the theft of the 840 million Euro, or the further debt their own monetary union had just forced upon them.
These thefts, as we can plainly see, are not “Isolated Incidents”. They are now, the rule not the exception. Look at the Jamie Diamond hearing yesterday, where a senator/representative, fawning over Diamond essentially said, tell us how we can make it easier for you to steal. Remember they are in the loop and asking this question, of a for profit scandalous banker.
This is not over. The path is obvious. The numbers don’t match, and all that’s needed is a little panic in the markets, for them to crumble. An issue Diamond also mentioned, as if it was in the works. After all he admitted that they had bet in their multibillion dollar loss, that the world economy would fail. Do you think they won’t do it again, especially considering the power they have to cause such a panic?
When one hedges, it’s usually so if the original investment fails your capital is retained, in a zero sum gain, JP Morgan was planning to make money with their hedge against their own investments, also a hedge against you and the rest of the world success. Unethical in the least, on JP Morgans part, however the congressional love festival during his testimony squashed any possible truth coming to light, for the public. I hope the public comes to their senses soon, and moves to stop this manipulative control of banking and business over our politicians and governments.
The middle class is falling, as it was planned. Soon we will live in a two class world. Take your government back. Make a return to one man one vote. It’s all that will save us.
This is most important, as the new Asian NAFTA is being negotiated behind closed doors. Behind closed doors with over 600 companies working to write this Asian Trade Agreement and Alliance, that will include 8 countries, if memory serves. All this without any legislator ever having reviewed at it’s wording.
We are being marginalized as world citizens. Our needs our realities go unaddressed and ignored, in favor of throwing trillions to banks, that the unrepresented tax payers, world wide, will be required to reimburse. This is why I worry for people, and have become concerned for you and your family for you. The futures been laid out. The plan has been obvious for some time. When will you see all you hold dear is fading, and take a stand and say no these things are wrong. If this doesn’t happen soon, if we don’t stop it and change it, the future of the American laborer is what we now see in third world labor forces.
For all of us, I hope and pray.
February 13, 2012
I’m sitting quietly waiting for Greece to go pop. I hope they stick with their Sovereignty, and tell the Banking and Political Fascist to screw off. Iceland Argentina, Greece looks good with them, over the brutally cruel suffering that will be imposed on the people by furthering these measures. This sets a precedent if they break, so this type of strong arming of a nation states into serfdom, will continue to be followed on all other nation states to come. And, boy are there more to come.
Remember, if they say they are going to default over a/the weekend, it’s a pay off of sorts. to Banks and other large creditors, as they will position themselves and be well in play, to take advantage of a/the Monday worldwide stock market openings. Further draining the wealth form real savers will be the result, if this occurs. I’d like to remind all here, as I say this, to remember that their are markets that if you don’t have the prerequisite wealth, you don’t get to participate. As we go on, and see the rich get richer while the poor become greater in number, that these unfair practices are why your savings keep going down. For all those with simple retirement funds, my deepest heart felt sorrows for your impending losses, should a default occur. I believe in the end it will be for the best future. Not that it will make it any easier. As usual this comes to, We can’t do anything to help ourselves until it almost breaks us. I wish that were not the case.
Lowering the minimum wage over 20%, will be their downfall.
Greece pressure to ministers as they look to vote. Saying, if you don’t vote for the new, and even more radical measures, to make the Greek people suffer, you have no place in this government….. Welcome to Fascism in Europe, it rises again.
Catastrophe or catastrophe. One will continue the pain with each subsequent bailout to follow. The other will bring the country to the brink. Which is close to where it sit now. It makes the country united for their future, as they heal. Neighbor will help neighbor. And if needed, humanitarian help will come. Making this a publicity nightmare for the EU. They will end up looking as if they tried to start a genocide. Greece will proudly make it’s return to prosperity, as Iceland did and Argentina has. And No precedent will be set for this banking brutality to continue. Lost in the issue, and needed to be acknowledged through this issue, is the fact that each and every country is Bankrupt. This Continuing Is Flat Silly, and an Exercise in Futility. Truth not scare tactic. Reality for us all.
You do not get out of debt, with the creation of more debt. Continued pain with each subsequent bailout, was the choice made for the people. When you keep doing the same thing over and over, expecting a different outcome, what are you? The default inevitable is left for another day, like their next bailout payment.
Hey, you don’t want to believe my words as true? Thought this was the end? Thought Greece had been saved? Here a link with a lovely little document attached to it from PM Greece to Head of IMF. It makes me sick, what banks are doing to Greece. And now they have broken, this tactic with Greece as the example will be perpetuate on each country to follow. http://www.zerohedge.com/news/greece-bailout-two-just-beginning
Hey, and here’s an old graph, which has only become worse since it’s publishing, a bit over a year ago. Please note your top Eight, in risk of default. http://www.marketoracle.co.uk/images/2010/Mar/global-debt-crisis-country-bankruptcy-risk.gif
Where did these folks get their education on economics? Mine comes from a freaking Cracker Jack box, I’m aware of the world being bankrupt, and I’m dumb as a post, with zero education. I wish more had a base knowledge of banking government and economics. But those subjects have been removed to prepare from standardized multiple guess testing.
Missing also from reports, is the fact with each bailout, Greece debt has risen about 15 Billion dollars. What a plan.