There is Only One Way Out For Greece

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Posted on 6th July 2015 by Administrator in Economy |Politics |Social Issues

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ECM Greece

Brussels has been dead wrong. This stupid idea that the Euro will bring stability and peace as it was sold from the outset, has migrated to European domination as if this were a game of Thrones. Those in power have misread history almost at every possible level. The assumption that the DMark’s strength was a good thing and this would be transferred to the Euro, has failed because they failed to comprehend the backdrop to the DMark.

LongBranchNJ-DepressionScrip

Germany moved opposite of the USA and moved toward extreme austerity and conservative economics because of its experience with hyperinflation. The USA moved toward stimulation because of the austerity policies which created the Great Depression and led to such a shortage of money many cities had to issue their own currency just to function. The federal government thought, like Brussels today, that they had to sure up the confidence in the bond market and that called for raising taxes and cutting spending at the expense of the people. The same thinking process has played out numerous times throughout history. Our problem is, nobody ever asks – Hey, did someone try this before? Did it work? This is why history repeats – we do ZERO research when it comes to economics. It is all hype and self-interest.

1000 drachma

Greece should immediately begin to print drachma. By no means has the introduction of a new currency been a walk in the park. There is always a learning curve as in the case of East Germany’s adoption of the Deutsche mark, the Czech-Slovak divorce of 1993, and the creation of the euro itself . However, the bulk of transactions today are electronic. That means we are dealing with an accounting issue more than anything.

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Europe’s Real Existential Crisis

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Posted on 4th July 2015 by Administrator in Economy |Politics |Social Issues

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Guest Post by Patrick J. Buchanan

Europe’s Real Existential Crisis

However the Greek crisis ends, whether with Athens leaving the eurozone, or submitting and accepting austerity at the dictates of its creditors, the European Union appears headed for an existential crisis.

Greece borrowed and spent beyond its means, like New York City in the ’70s, and Detroit, Illinois, and Puerto Rico today. But the crisis of Europe is about more than budget deficits and bad debts.

All the momentum toward One Europe — the dream of the generation of Jean Monnet that drove Europeans toward ever-deeper union — seems to have dissipated. The momentum is now toward separation and dissolution.

The Greek crisis exposed one fault line in the union, the desire of the Mediterranean nations to build welfare states that their economies could not sustain without huge borrowing abroad.

Paying these debts is going to force ever-greater austerity on those nations. Eventually, their peoples may choose, as debtors do, to walk away, rather than pay.

But not only economics imperils the EU. There is the call of tribe and nation that has often before torn the Old Continent apart.

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MONDAY COULD BE INTERESTING

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Posted on 27th June 2015 by Administrator in Economy |Politics |Social Issues

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Grandma Yellen and her fellow central banker minions are probably burning up the phone lines this weekend. Greece is throwing a monkey wrench into their monetary fiat machine. Their extend and pretend solution to un-payable debt has been to create more debt and pretend that it would eventually be paid off. Well, it can’t and it won’t be repaid. The dominoes are lined up and once they begin to fall, nothing will be able to stop the consequences of corruption, delusion, and debt. Will the Plunge Protection Team successfully avoid a Meltdown Monday? Maybe. Can they avoid a meltdown forever? No.

Eurozone Rejects Greek Bailout Extension: All Bailout Programs Expire On June 30, Referendum Moot

Tyler Durden's picture

First thing this morning, when summarizing the flurry of overnight events, we focused on today’s final gambit by Greece:

“… moments ago Varoufakis was quoted as saying he would ask the Eurogroup for a bailout extension of a few weeks to accommodate the referendum.

 

And the punchline: if the Eurogroup says “Oxi”, then the entire Greek gambit, which has been a bet that to Europe the opportunity cost of a Grexit is higher than folding to Greek demands, collapses.

 

If the Eurogroup declines Varoufakis’ request, there simply can not be a referendum, as the “institutions proposal” will no longer be on the table. As such, the only question is whether the ECB will also end the ELA at midnight on June 30, adding insult to injury, and causing the collapse of the Greek banking system days ahead of a referendum whose purpose would now be moot.”

And, as expected, with the Eurozone meeting on Greece having just ended after a brief hour of deliberations, AFP reports that the answer, was indeed, no.

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The US & Europe Will Collapse Regardless Of Economic “Contagion”

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Posted on 27th June 2015 by Administrator in Economy |Politics |Social Issues

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Submitted by Brandon Smith via Alt-Market.com,

In order to understand what is really going on around the globe in terms of the collapsing economy, we must set aside false mainstream versions of reality. When it comes to the EU and its current fiscal turmoil, it is very important to, in some respects, ignore Greece entirely. That’s right; forget about all the supposed drama surrounding Greek debt obligations. Will they find a way to pay creditors? Will they default? Will they make a deal with Russia and the BRICS? Will there be last-minute concessions to save the system? It doesn’t matter. It’s all a soap opera, an elaborate Kabuki theater run by international financiers and globalists.

It is most important to remember the fundamentals. Greece will default on its debts. Period. There is no way around it. Maybe Greece makes a deal today, maybe it makes a deal tomorrow; but eventually, the country’s ability to stretch out its resources in order to meet its exponential liabilities will end. It is inevitable, and no last-minute “deal” is going to change the math at the core of it all.

Why are so many economists so worried about a little country like Greece? It’s all due to a great lie: a dishonest narrative being perpetuated by the establishment that if Greece falls, defaults or leaves the EU, this could trigger a domino effect of other nations hitting a debt wall and following suit. The lie embedded in this narrative is the claim that Greece will cause a “contagion” through the act of default.  Let’s be clear – there is no contagion. Multiple countries within the EU have developed their own debt problems in spite of Greece over the past couple of decades, not because of Greece. Each of these countries, from Italy, to Spain, to Portugal, etc. has its OWN sovereign debt disasters to deal with caused by its own fiscal irresponsibility. The only legitimate reason for a so-called contagion is the fact that these countries have been forced into socialist interdependency through the EU structure.

Never forget this: The EU is in trouble not because of Greece, but because of forced supranational interdependency. The EU by all rights should not exist, nor should any centralized supranational single currency system.

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Monday’s EU Summit & Trioka’s Misguided View of Greece

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Posted on 22nd June 2015 by Administrator in Economy |Politics |Social Issues

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Trioka

The summit of the new superheroes known as the Euro-Rescuers on Monday, are lost in the canyons of the their own minds for they do not comprehend how the economy functions in the least. They just cannot see the problem for they lack a mirror and will never question themselves as a problem. Consequently, the same line of thinking that has created this nightmare where Democracy is being extinguished as they see it for our own good, can never possibly solve the crisis which they created.

Super-Heroes

The European Union is indeed on the ropes and their arrogance as lawyers cannot see the reality of economics. They view the world only through the power of their pen to write a law and DEMAND under threat of penalty we do as they command. This group of superheroes lack the comprehension that people will not follow laws that make no sense or go against human nature.

These superheroes command that everyone shall abide by austerity can only lead to the Grexit and the beginning of a period of unprecedented levels-destruction in Europe along with rising civil unrest across the continent. Anyone who has EVER worked on a foreign exchange desk knows far more about the market flows than they will ever think about with all their law degrees. Based upon the botched job they have mastered so far, the EU will descend into the final destruction phase. The idea that one government would end European wars is producing rising civil unrest and the very finger-pointing that creates war.

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Paul Craig Roberts’ Address to the International Conference on the European/Russian Crisis Created by Washington

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Posted on 20th June 2015 by Administrator in Economy |Politics |Social Issues

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Paul Craig Roberts’ address to the Conference on the European/Russian Crisis, Delphi, Greece, June 20-21, 2015


Paul Craig Roberts, formerly Assistant Secretary of the US Treasury for Economic Policy, Associate Editor, Wall Street Journal, Senior Research Fellow, Stanford University, William E. Simon Chair in Political Economy, Center for Strategic and International Studies, Georgetown University, Washington, D.C.

The United States has pursued empire since early in its history, but it was the Soviet collapse in 1991 that enabled Washington to see the entire world as its oyster.

The collapse of the Soviet Union resulted in the rise of the neoconservatives to power and influence in the US government. The neoconservatives have interpreted the Soviet collapse as History’s choice of “American democratic capitalism” as the New World Order.

Chosen by History as the exceptional and indispensable country, Washington claims the right and the responsibility to impose its hegemony on the world. Neoconservatives regard their agenda to be too important to be constrained by domestic and international law or by the interests of other countries. Indeed, as the Unipower, Washington is required by the neoconservative doctrine to prevent the rise of other countries that could constrain American power.

Paul Wolfowitz, a leading neoconservative, penned the Wolfowitz Doctrine shortly after the Soviet collapse. This doctrine is the basis of US foreign and military policy.

The doctrine states:

“Our first objective is to prevent the re-emergence of a new rival, either on the territory of the former Soviet Union or elsewhere, that poses a threat on the order of that posed formerly by the Soviet Union. This is a dominant consideration underlying the new regional defense strategy and requires that we endeavor to prevent any hostile power from dominating a region whose resources would, under consolidated control, be sufficient to generate global power.”

Notice that Washington’s “first objective” is not peace, not prosperity, not human rights, not democracy, not justice. Washington’s “first objective” is world hegemony. Only the very confident so blatantly reveal their agenda.

As a former member of the Cold War Committee on the Present Danger, I can explain what Wolfowitz’s words mean. The “threat posed formerly by the Soviet Union” was the ability of the Soviet Union to block unilateral US action in some parts of the world. The Soviet Union was a constraint on US unilateral action, not everywhere but in some places. Any constraint on Washington is regarded as a threat.

A “hostile power” is a country with an independent foreign policy, such as the BRICS (Brazil, Russia, India, China, and South Africa) have proclaimed. Iran, Bolivia, Ecuador, Venezuela, Argentina, Cuba, and North Korea also proclaim an independent foreign policy.

This is too much independence for Washington to stomach. As Russian President Vladimir Putin recently stated, “Washington doesn’t want partners. Washington wants vassals.”

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Abolishing Cash – New Age of Economic Totalitarianism

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Posted on 18th May 2015 by Administrator in Economy |Politics |Social Issues

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Euro Bank Notes

Europe is moving full speed ahead to eliminate all cash. Instead of reforming and tackling the economic problems, government always seeks to maintain the same course of thinking and that now leads us to the totalitarian approach coming from Brussels. To maintain the euro, they must maintain the banks. But the bank reserves are debts of all member states. As government becomes insolvent as in Greece, the banking system is undermined. The only way to prevent the banking collapse is to prevent people from withdrawing cash. Hence, we see this trend is surfacing in all the mainstream press to get the people ready for what is coming after 2015.75 – the elimination of cash. We are starting to even see this advocated in parts of Germany. We will not be able to buy or sell anything without government approval. That is where we are going and this may be the major event that erupts after 2015.75.

TigerVsheep

Sheep HerdThe bail-in that took place in Cyprus managed to get away without bloodshed. The people just took it. This has encouraged governments everywhere that they can now safely do the same thing and the people are like sheep – dumb and stupid. Just how much will society take before they say no?


WINNING

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Posted on 4th May 2015 by Administrator in Economy |Politics |Social Issues

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“You shouldn’t create a partnership with your drunken, shiftless brother-in-law.” — Charlie Munger, vice chairman of Berkshire Hathaway talking about Greece and the euro at the company’s annual shareholder celebration of crony capitalist insider billionaires winning.


GREXIT

3 comments

Posted on 20th February 2015 by Administrator in Economy |Politics |Social Issues

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GREXIT?

GREXIT ADVISORY SYSTEM

Via William Banzai


SALUTE TO EUROPEAN YOUTH

7 comments

Posted on 16th February 2015 by Administrator in Economy |Politics |Social Issues

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Hat tip flash


THE GREAT EURO POKER GAME

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Posted on 16th February 2015 by Administrator in Economy |Politics |Social Issues

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FOURTH TURNING – THE SHADOW OF CRISIS HAS NOT PASSED – PART FOUR

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Posted on 12th February 2015 by Administrator in Economy |Politics |Social Issues

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In Part One of this article I explained the model of generational theory as conveyed by Strauss and Howe in The Fourth Turning. In Part Two I provided an overwhelming avalanche of evidence this Crisis has only yet begun, with debt, civic decay and global disorder propelling the world towards the next more violent phase of this Crisis. In Part Three I addressed how the most likely clash on the horizon is between the government and the people. War on multiple fronts will thrust the world through the great gate of history towards an uncertain future.

War on Multiple Fronts

“The risk of catastrophe will be very high. The nation could erupt into insurrection or civil violence, crack up geographically, or succumb to authoritarian rule. If there is a war, it is likely to be one of maximum risk and effort – in other words, a total war. Every Fourth Turning has registered an upward ratchet in the technology of destruction, and in mankind’s willingness to use it.” – Strauss & Howe – The Fourth Turning

The drumbeats of war are pounding. Sanctions are implemented against any country that dares question American imperialism (Russia, Iran). Overthrow and ignominious imprisonment or death awaits any foreign leader questioning the petrodollar or standing in the way of America spreading democracy (Iraq, Libya, Syria, Ukraine, Egypt). The mega-media complex of six corporations peddle the government issued pabulum about ISIS being an existential threat to our freedoms; Russia being led by the new Hitler and poised to take over Europe; Syria gassing innocent women and children; and Iran only six months away from a nuclear bomb (they’ve been six months away for the last fourteen years). Hollywood does their part with patriotic drivel like American Sniper, designed to compel low IQ unemployed American youths to swell with pride and march down to enlistment centers, located in our plentiful urban ghettos.

The most disconcerting aspect of Fourth Turnings is they have always climaxed with total destructive all-out war. Not wars to enrich arms dealers like Iraq, Afghanistan, and Syria, but incomprehensibly violent, brutal, wars of annihilation. There are clear winners and losers at the conclusion of Fourth Turning wars. Leaders mobilize all forces, refuse to compromise, define their enemies in moral terms, demand sacrifice on the battlefield and home front, build the most destructive weapons imaginable, and employ those weapons to obtain victory at any cost.

It may seem inconceivable that war on such a scale will happen within the next ten years, but it was equally inconceivable in 1936 that 65 million people would die in the next ten years during World War II. We valued all the wrong things and made all the wrong choices leading up to this Crisis and during the early stages of this Crisis. The accumulation of unmet obligations, unpaid bills, un-kept promises and unresolved issues will provide the fuel for an upheaval that will shake our society to its core and transforms the country’s direction for the next sixty years. The outcome of the conflict could be tragedy or triumph. Our choices will make a difference.

There will be war on many fronts, and they have already begun. The culmination will likely be World War III, with the outcome highly uncertain and potentially disastrous.

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