Of the €400+ Billion that Greece “received” in “bailout” money these past few years, the entire fiasco was about paying off foreign banks, NONE of the money had ANYTHING to do with helping Greece.

Don’t let anyone bullshit you and make you think otherwise.

Before the “crisis” Greece had a debt to gdp ratio of 112%, which all of the economists screamed was WAY TOO HIGH!  So what did they do?  They bumped the debt to gdp ratio to 175% where it is today, while letting countries like Germany cash out.  Now Greece has more debt, a destroyed economy and 75% unemployment among young people.

And now the Ukraine is about the find itself in the exact same predicament as Greece, with a SUDDEN $17B EU LOAN to the Ukraine to make sure that the Ukraine pays off debts it owes to foreign countries, with all kinds of stipulations, like increased taxes, cut wages being forced on the people, and again, you will find another country DESTROYED by the Germans, thank you very much.

Make no mistakes about it, this is what foreign countries do when they invade other countries, they seize the banks and all the assets of the foreign country, only this time around, the people of the invaded countries site back and allow their country to be raped, because their own media is immediately taken control of.

Also, “Merkel should know her country has been bailed out too” according to Bloomberg.

This figure according to a report called “The Greek rescue plan: A humanitarian crisis [In Greek].”

Think those numbers are made up?  Well then,  how about this tweet from James Mackintosh, Investment Editor at the Financial Times, where he states the following:

Mr. Mackintosh talks about €410B Euros and only 15% going to the Greek people.  The reason for the differing numbers?  Well, that’s on account of the fact that a bunch of the transactions are shrouded in secrecy and complex structures designed to mask the true trail of what’s being spent and where the money is actually going.

On top of that, Greece’s national debt in comparison to other countries, before all of these supposed “emergencies” and “bailouts” occurred, was not higher than Germany’s debt per individual ration nor the United States’, in fact national Debts tend to rise and fall with a country’s economy, and, as you can see in the chart below, taken from the European Commission, prior to the “CRISIS” in  2008, which for some weird reason, totally coincided with the United States’ Subprime Mortgage Backed Securities Crisis and the fact that the Germans were the ultimately largest European holders of those securities.

GRSchuKriseEngl

What the Greek “bailout” was all about is shown in the chart below, which also comes to us from the IMF’s open report:

IMF - GREECE EX POST EVALUATION OF EXCEPTIONAL ACCESS UNDER THE 2010 STAND-BY ARRANGEMENT
From the IMF’s now report entitled: GREECE
EX POST EVALUATION OF EXCEPTIONAL ACCESS UNDER THE 2010 STAND-BY ARRANGEMENT

What the chart shows is that Germany (and France as well), who had the greatest exposure to Greek debt, used the “bailouts” to bail themselves out of their predicament, and transfer the risk away from themselves to the Greeks and the rest of Europe.

In a normal world, with less regulation that the banks want, and Laissez Faire.. as all these corporate fat-cats want, businesses should be left to fail of they screw up.. NOT TRANSFER their failures to the PEOPLE via Governments laws and regulations!

The banks made risky investments in devices that they created out of thin air.. repackaging home mortgages that they were already making money on, and selling and reselling them over and over again, getting a AAA rating from the ratings agencies on these Sub-Prime Mortgage Backed Securities that should have been rated as JUNK, and when the sh*t was about to hit the fan the US banks getting the German banks to buy the securities the US banks know were about to be worthless as described in Michael Lewis’s book “The Big Short”, and when the sh*t did hit the fan, the German banks concocted a plan to transfer their losses on to the Greek people through government regulations and laws, knowing full well that the EU and IMF would bail them out.

At what point did capitalism become more important that governments?   At what point did it become OK to bail out massive banks who made STUPID risky investments knowing full-well what the government would bail them out with the government’s money?

If the Banks want to be bailed out with government (read – the PEOPLE’S money) then they IMMEDIATELY need to be returned to COMPLETE government regulation, which means, separation of banks and investment banks,  banks return to home loans and are regulated, investment banks do whatever they want (within the law), but get access to NO bailout money if they screw up, and if they break the law, they get shut down.

 

 

 

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