QUOTES OF THE DAY

“A clueless political personnel, in denial of the systemic nature of the crisis, is pursuing policies akin to carpet-bombing the economy of proud European nations in order to save them.”

Yanis Varoufakis

“One may safely say that it would be no sin if statesmen learned enough of history to realise that no system, which implies control of society by privilege seekers, has ever ended in any other way than collapse.”

William E. Dodd, US Ambassador, Address to the American Chamber of Commerce in Berlin, 1933

“Our pundits and experts, at least those with prominent public platforms, are courtiers. We are captivated by the hollow stagecraft of political theater as we are ruthlessly stripped of power. It is smoke and mirrors, tricks and con games, and the purpose behind it is deception…

A culture that does not grasp the vital interplay between morality and power, which mistakes management techniques for wisdom, and fails to understand that the measure of a civilization is its compassion, not its speed or ability to consume, condemns itself to death.”

Chris Hedges, Empire of Illusion: The End of Literacy and the Triumph of Spectacle

“People only see what they are prepared to see.”

Ralph Waldo Emerson


NEW GREEK FINANCE MINISTER TELLS THE TRUTH

I find it absolutely stunning whenever a government official tells the unvarnished blunt truth. Do you loan someone more money when they don’t have the means to repay what they have borrowed already? The evilness of central bankers is revealed in this short exchange. It’s time to end Wimpy economics.

Greece’s New FinMin Explains “This Is What Happens When You Humiliate A Nation & Give It No Hope”

Tyler Durden's picture

“This is not blackmail,” explains new Greek Finance Minister Yanis Varoufakis, “we simply want to end this seemingly never-ending Greek Crisis.” In what must be worryingly calm and simple to comprehend words for Brussels, Varoufakis tells CNBC’s Michelle Caruso-Cabrera, “this is what happens when you humiliate a nation and don’t give it any hope.” Carefully noting that membership in the Euro is not imperative, Varoufakis concludes “bankruptcy cannot be dealt with by borrowing more,” asking rhetorically, “how can I look the German and Finnish taxpayer in the eye and tell them you know I can’t really pay you the money I have already borrowed from you…” but lend me more so I can pay back the ECB?

 

As Varoufakis explains, he believes Europe is willing to negotiate haircuts – anything else appears a waste of time.

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