Will the EU overcome the ongoing crisis and become a stronger political and economic entity? Who wants to be part of the eurozone? Will there still be would-be euro members if Greece exits the eurozone? On the Money's edition from the SPIEF has turned into a real TV debate where journalists, bankers and executives offer their vision of the EU future. Peter Lavelle is joined by Xavier Rolet, Jacob Nell, Ksenia Yudaeva, Erik Berglöf, Dariusz Jacek Krawiec, Dmitry Pankin, Ben Aris and Max Keiser. Source
Telling the truth has become a revolutionary act, so let us salute those who disclose the necessary facts.
30 Jun 2012
On The Money: Euro Patient (ft. Max Keiser)
Will the EU overcome the ongoing crisis and become a stronger political and economic entity? Who wants to be part of the eurozone? Will there still be would-be euro members if Greece exits the eurozone? On the Money's edition from the SPIEF has turned into a real TV debate where journalists, bankers and executives offer their vision of the EU future. Peter Lavelle is joined by Xavier Rolet, Jacob Nell, Ksenia Yudaeva, Erik Berglöf, Dariusz Jacek Krawiec, Dmitry Pankin, Ben Aris and Max Keiser. Source
Euro zone: the centralization battle rages on - Max Keiser with Catherine Austin Fitts
Barclays' Bad Bet - Max Keiser with Michael Krieger
Max Keiser and co-host, Stacy Herbert, discuss 'big boys' and carding
crimes, marmite pots and Olympic has-beens, wash trades and perfect
games. In the second half of the show Max talks to former commodities
analyst and blogger, Michael Krieger, about the meaning of the
escalating and blatant financial crime wave. Source
Big Banks Have Become Mafia-Style Criminal Enterprises
Banks Conspire to Fleece the Public
by WashingtonsBlog: Two stories this week prove once again that the big banks are literally criminal enterprises.
Initially, all of the big banks have engaged in Mafia-style “bid-rigging” of municipal bonds, to bilk money from every city in the nation … to the collective tune of tens billions of dollars.
And Barclays and other large banks – including Citigroup, HSBC, J.P. Morgan Chase, Lloyds, Bank of America, UBS, Royal Bank of Scotland – manipulated the world’s primary interest rate (Libor) which virtually every adjustable-rate investment globally is pegged to.
Other recent stories also show criminal fraud as well. For example, the big banks have been cheating homeowners … especially veterans.
And as Max Keiser explains, banking giants Mellon and State Street
shaved money off of virtually every pension transaction they handled
over the course of decades, stealing collectively billions of dollars
from pensions worldwide:
The American People Are Angry - by Senator Bernie Sanders
"The American people are angry," Sen. Bernie Sanders said in a major
Senate floor speech today. They are angry that the middle class is
collapsing because of the Wall Street-caused recession, they are angry
that unemployment is sky high, that 50 million people lack health
insurance, and that working families can't afford college for their
kids. Meanwhile, the wealthy and the largest corporations are doing
phenomenally well and now billionaires and their congressional friends
want to balance the budget on the backs of the elderly, the children,
the sick and the poor." Source
Tarpley: Turkey Continues Provocations Against Syria
Journey To The Economic Center Of The World
Submitted by Tyler Durden:
The most recent decade of 2000 to 2010 has seen the fastest rate of change in the global economic balance in history. During this period, a recent McKinsey research article notes, the world's economic center of gravity has shifted by about 140km per year - about 30% faster than in the period after World War II when global GDP shifted from Europe to North America. The world’s center of economic gravity has changed over past centuries. But since the mid-1980s, the pace of that shift—from the United States and Europe toward Asia— has been increasing dramatically as China is urbanizing on 100 times the scale of Britain in the 18th century and at more than 10 times the speed. One has to wonder what the difference would be were it not for the flawed economic model adopted since the 1980s that relied on debt and asset price inflation to drive demand (as opposed to wage growth linked to productivity growth).
A Steineresque Esoteric Look At Technology - Alexander Barry
An unusual piece for my channel.
Delivered by a very capable man who is dedicated to the understanding of the esoteric world.
He has been called a maverick genius: Alexander Barry has coined the word Technosophy to explain ... Source
Ron Paul's Hearing on Fractional Reserve Banking
Cyprus to assume EU presidency - Two suicides in two days: Greece sees social backlash of crisis
The weekend launch of the Cyprus EU Presidency got a two-tiered last-minute shot in the arm from the EU summit on Friday.
29 Jun 2012
I, Not Robot: Why The Rise Of SkyNet Leads To Automatic Unemployment For The People
Submitted by Tyler Durden: With so much hollow and pointless discussion over the past week, month and year over such fundamentally trivial things as who will inject more money faster, who will be bailed out first, who will go back to their own currency before everyone else, it is easy to forget that reality actually matters. And the reality is not who has their CTRL-P macro stuck, but what does the future of the world truly hold when one sidesteps such idiotic flights of fancy that debt may be cured with more debt. In order to completely change the topic from what has become trivial and generic - i.e., the various encroaching forms of central planning: Fed, SCOTUS, G-8 through G-20; European Finance Ministers, and now, with the ESM passing German parliament, the German Constitutional Court, we focus on something few have discussed, yet all have a morbid fascination with: Robots... And China. And why the combination of the two just may be the most dangerous thing for China's several hundred million strong migrant labor force, which, on the margin may just be the deciding factor defining the engine of global growth for the next decade. Oh, and did we mention global structural unemployment which will only get worse as increasing automation leaves more and more millions collecting their 99 weeks of extended unemployment benefits.
Matt Taibbi: A Huge Break in the LIBOR Banking Investigation
This is a huge story:
On Wednesday, Barclays won the race to reach a deal with U.S. and British regulators, beating UBS, which was reportedly the first bank to begin cooperating with international antitrust authorities. Barclays agreed to pay at least $450 million to resolve government investigations of manipulation of Libor and the Euro interbank offered rate (or Euribor): $200 million to the U.S. Commodity Futures Trading Commission, $160 million tothe criminal division of the U.S. Department of Justice and $92.8 million to Britain's Financial Services Authority.
I wrote about the Libor investigation in the current issue of Rolling Stone, in "The Scam Wall Street Learned From the Mafia," about muni bond bid-rigging. Throughout this spring, while the Carollo bid-rigging case played out in a Manhattan courtroom, negotiations between banks and regulators were going on in this far larger cartel-corruption case. It’s been clear for some time now that a number of players had begun cooperating, and the only question was which bank was going to settle first.
Greek Bank Deposits Have Biggest One Month Outflow Ever In May
Submitted by Tyler Durden: It's official: all those rumors of unprecedented deposit withdrawals in May as Greece was heading into one then another parliamentary election were true. According to just released NBG data, May deposit outflows were €8.5 billion, or the highest on record, bringing the local banks' total private sector deposit base to just €157 billion, the lowest since January 2006, and represents a massive 5% outflow of the entire deposit base as of the end of April. And keep in mind rumors of epic bank jogs and trots did not really pick up until weeks into the second Greek election two weeks ago. At this rate of outflows the entire Greek banking system will have zero deposit cash left in under two years. So aside from the 'details', Europe is all fixed and stuff. Source
The Butchers of Bahrain: Opposition activists in Bahrain want Bahrain king's son arrested
Nasser bin Hamad Al Khalifa is the head of Bahrain's Olympic committee and is due to lead the country's delegation during the Olympics Games in London. But according to Bahraini opposition members, he's also a sadistic torturer who's been personally involved in crushing anti-regime demonstrations by force. They also say he has cheer-led the persecution of Bahraini athletes opposed to the Al Khalifa dictatorship. Part 2>
How Papandreou/Troika turned down SECOND debt lifeline in 2011. How a German consultancy got involved. How the brand new Greek finance minister is in bed with that consultancy. - The Slog
New Greek Finance Minister: he devised a way to get Papandreou off the hook, he steered Greece into the Euro in 2001. The plot thickens.
Yannis Stournaris
How a top German consultancy fed the Greeks a lifeline…to no avail.
Yannis Stournaras, the new Minister of Finance in Greece, has landed himself a pole-position job. Stournaras is something of a thoroughbred old-Establishment Greek politician: he emerged as a force in the old days of Kostas Simitis, the former Prime Minister of Greece, who – as one source put it earlier this week – “was the master builder of the greek tragedy right at the outset”. It isn’t meant as a compliment.
The facts bear this out: one way and another, Simitis schemed to disguise the chronic problems of the Greek economy and get Greece into the Eurozone. During the period of his governance, official data presented inflation as having decreased from 15% to 3%, public deficits diminished from 14% to 3%, with GDP allegedly increasing at an annual average of 4% – and actual labour incomes increasing at a rate of 3% per year. It was largely a tissue of lies that Eurostat had caught onto by 2006: whenever any Sprout or Europol tells you the Greek collapse came as a shock to Berlin-am-Brussels after Papandreou came to power, you know you are in the presence of a fool or a liar. The eurozoners knew from Day One that Greece was a potential liability….but it suited theur hubris-fuelled ambition to have them in.
Nigel Farage on the Failings of the EU Summit and an Antidemocratic Europe
World's first GM babies born
by MICHAEL HANLON: The world's first geneticallymodified humans have been created, it was revealed last night.
The disclosure that 30 healthy babies were born after a series of experiments in the United States provoked another furious debate about ethics.
So far, two of the babies have been tested and have been found to contain genes from three 'parents'.
Fifteen of the children were born in the past three years as a result of one experimental programme at the Institute for Reproductive Medicine and Science of St Barnabas in New Jersey.
The babies were born to women who had problems conceiving. Extra genes from a female donor were inserted into their eggs before they were fertilised in an attempt to enable them to conceive.
Genetic fingerprint tests on two one-year- old children confirm that they have inherited DNA from three adults --two women and one man.
The fact that the children have inherited the extra genes and incorporated them into their 'germline' means that they will, in turn, be able to pass them on to their own offspring.
Altering the human germline - in effect tinkering with the very make-up of our species - is a technique shunned by the vast majority of the world's scientists.
Geneticists fear that one day this method could be used to create new races of humans with extra, desired characteristics such as strength or high intelligence.
Writing in the journal Human Reproduction, the researchers, led by fertility pioneer Professor Jacques Cohen, say that this 'is the first case of human germline genetic modification resulting in normal healthy children'.
Some experts severely criticised the experiments. Lord Winston, of the Hammersmith Hospital in West London, told the BBC yesterday: 'Regarding the treat-ment of the infertile, there is no evidence that this technique is worth doing . . . I am very surprised that it was even carried out at this stage. It would certainly not be allowed in Britain.'
Zombie Bank Apocalypse - Max Keiser with Steve Keen
Shadow banking system greater than visible banking system: Analyst - Max Keiser
Since the 2008 collapse of Lehman Brothers, we’ve had a global unwinding of bad debt, financial journalist Max Keiser said in an interview with Press TV. He added that JP Morgan’s recent financial loss has suddenly made more visible the shadow banking system.
28 Jun 2012
SWAT tries to take down Internet meanie; raids grandma instead
An Evansville, Indiana SWAT team recently attempted to execute a
search warrant that was issued to make an example out of an anonymous
Internet user who made malicious remarks on the Web. Instead, they
destroyed the home of an innocent grandmother.
When members of the Midwest town’s SWAT team plotted their raid on
the alleged home of the person behind some unpleasant remarks published
on an Internet forum, they invited a local television crew to accompany
them so that they could catch the whole thing on camera. Instead of
arresting the author of the ill-tempered posts, however, the Evansville
SWAT ravaged the home of an elderly woman and confiscated her
18-year-old granddaughter’s laptop.
The SWAT team did not have the
name of who they were going after. They barely even had an identity.
What they did have to work with, though, was the IP address of a person
who logged onto the Topix.com Web forums and made discouraging remarks
about local law enforcement.
Where Does Money Come From? The Giant Federal Reserve Scam That Most Americans Do Not Understand
How is money created? If you ask average people on the street this question, most of them have absolutely no idea. This is rather odd, because we all use money constantly. You would think that it would only be natural for all of us to know where it comes from. So where does money come from? A lot of people assume that the federal government creates our money, but that is not the case. If the federal government could just print and spend more money whenever it wanted to, our national debt would be zero. But instead, our national debt is now nearly 16 trillion dollars. So why does our government (or any sovereign government for that matter) have to borrow money from anybody? That is a very good question. The truth is that in theory the U.S. government does not have to borrow a single penny from anyone. But under the Federal Reserve system, the U.S. government has purposely allowed itself to be subjugated to a financial system in which it will be constantly borrowing larger and larger amounts of money. In fact, this is how it works in the vast majority of the countries on the planet at this point. As you will see, this kind of system is not sustainable and the structural problems caused by such a system are at the very heart of our debt problems today.
So where does money come from? In the United States, it comes from the Federal Reserve.
More banks face interest rate rigging investigation
Robert Preston: Barclays has admitted that a group of traders lied about what it was costing the bank to borrow. Now, why does this matter?
It matters because lots and lots of deals involving clients of Barclays used the interest rate into which Barclays was feeding this information, about its own borrowing costs, to determine the profit and loss on their own deals.
It's quite hard to think of behaviour by a bank as shocking as this: not telling the truth about what it is costing you to borrow, that then becomes a benchmark for pricing other deals.
The statement from the US regulator, which levied a big chunk of the fine, talks about how Barclays was working with other banks to try to fix this interest rate.
This of course implies that Barclays is simply the first bank to settle and we will see fines and punishments against some of the other big banks of the world.
A number of banks are being investigated and could face sanctions after Barclays was fined £290m ($450m) for trying to manipulate interest rates at which banks lend to each other.
5 years Jail for a Blog? Quislings in a Kangaroo Court! - WWII War Hero: "Worse than the gas chambers, in Britain - NOW!"
"... at Leeds Magistrates' Court on 2nd February 2012, used a concealed camera to record the proceedings before District Judge Roy Anderson. He subsequently published the recording ... on the You tube website."
The above accusation against a man who states "WW2 veteran, born 1925, Proud to be British until the age of 70, when I began to learn that this is a ruthless, lawless, murderous & merciless Police State, just as bad as Hitler's Germany or Stalin's Russia, but less honest, the victims fewer - AS YET!
Quislings in a Kangaroo Court! This Hearing in Leeds Magistrates
Technocrat Monti hails 'historic' Italian labour reform bill
Syria Can Only End Up As a World War
New Film Destroys Vaccine Hoax
End The Fed: Ron Paul’s Federal Reserve audit approved by House committee
By Stephen C. Webster: One of Rep. Ron Paul’s (R-TX) lifelong policy goals is on the brink of becoming a reality.
In a nearly unanimous voice vote on Wednesday, the House Oversight Committee approved a bill that would require the U.S. Federal Reserve to conduct a first-ever complete audit of its books and divulge details about its monetary policy discussions. The bill is expected to be taken up by the full House of Representatives sometime next month.
Paul, a longtime critic of the Fed and fiat currencies in general, had previously supported an audit that became part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. That audit required the Fed to disclose its lending practices during the 2008 financial crisis, revealing that the bank doled out more than $16 trillion in loans and assets swaps to financial institutions all over the world in an effort to stabilize global markets and keep credit flowing.
Paul, however, felt that the audit which ultimate cleared the U.S. Senate was a stripped down version of what he believes is needed, and most of his colleagues now agree. His bill has garnered an impressive bipartisan coalition of more than 257 co-sponsors — more than half the House — giving it enough votes to pass.
Community Banks take on Wall Street "Uncle Sam meets Mr. Market!" - Barclays PLC $450 million settlement for Market Manipulation +
EU creates ‘pro-democracy’ regime change slush fund to ‘fight tyrants’???
Member nations of the European Union have agreed to create a fund for “pro-democracy” purposes, which is nothing less than a thinly-veiled regime change slush fund.
While regime change has been big business
for quite a while, in recent years it has been kicked up a notch or two
thanks to the covert activities of groups of terrorist operatives like al Qaeda, the MEK, and armed opposition groups which are used to destabilize foreign governments which refuse to bow down before the Western powers.
Furthermore, considering the global expansion of the North Atlantic Treaty Organization (NATO), it is hardly surprising that such a fund was created to be used to overtly undermine sovereign nations.
According to Charter 97,
the fund will likely be up and operational by as early as next year. It
will mostly be leveraged to target the nations on the edge of the European Union who have not been so friendly to NATO and Western demands in general.
Such a nation is Belarus where President Alexander Lukashenko runs a
nation where individuals are allegedly “routinely jailed for showing
opposition.”
27 Jun 2012
Who Destroyed the Middle Class, Part 3
By James Quinn: This is the 3rd and final chapter of my series about the destruction of the middle class. In Part 1 of this series I addressed where and how the net worth of the middle class was stolen. In Part 2, I focused on the culprits in this grand theft and in Part 3, I will try to figure out why they stole your net worth and what would be required to restore sanity to this world.
Dude, Why Did They Steal My Net Worth?
“I have no problem with people becoming billionaires—if they got there by winning a fair race, if their accomplishments merit it, if they pay their fair share of taxes, and if they don’t corrupt their society. Most of them became wealthy by being well connected and crooked. And they are creating a society in which they can commit hugely damaging economic crimes with impunity, and in which only children of the wealthy have the opportunity to become successful. That’s what I have a problem with. And I think most people agree with me." – Charles Ferguson – Predator Nation
It
is clear to me that a small cabal of politically connected elites have
purposefully stripped the middle class of their wealth and openly
flaunted their complete disregard for the laws and financial regulations
meant to enforce a fair playing field. Why did they gut the middle
class in their rapacious appetite for riches? Why did the scorpion sting
the frog while crossing the river, dooming them both?
'US should be excluded from talks over Syria just like Iran'
Will India Implement The First "Executive Order 6102" Of The 21st Century?
Submitted by Tyler Durden: Something strange has been happening in India
in the last year: while the rest of the "developed" world has been doing
all in its power to crush its currency in order to promote exports
within a globalist mercantilist system suddenly gone haywire, India has
had the opposite problem: with its economy slowing down even as rampant
inflation persists, its currency has been sliding against all other
currencies. But probably more importantly: plunging against gold, as can
be seen on the chart enclosed.
It appears that finally after months of "being long of Gold in Indian
Rupee terms" having proven to be quite a resilient and profitable
strategy, the Indian state has also figured it out. And they are
unhappy. Because to them, the key reason for the rupee weakness
has nothing to do with the actual economy, and all to do with the
Indian population trying to protect against currency debasement coupled
with inflation: i.e., purchasing gold. And they will no longer allow it.
Outline on Collapse End Game - Jim Willie
Many
are the events, signals, and telltale clues of a real live actual
systemic failure in progress. Until the last several months, such banter
was dismissed by the soldiers in the financial arena. But lately, they
cannot dismiss the onslaught of evidence, a veritable plethora of ugly
symptoms of conditions gone terribly wrong and solutions at best gone
awry and at worst never intended in the first place. My theory has been
steady from the TARP Fund scandal and the Too Big To Fail mantra of
deceit. The plan all along since the breakdown began in September 2008
has been to preserve power, to maintain intact the insolvent banks an
operational crew of zombies, to aid the financial sector bound in Wall
Street, to pay benign neglect to Main Street and businesses (expect for
symbols like General Motors), to expand the propaganda of a fictional
recovery, and to maintain the endless wars. The wars serve two purposes,
to enable significant fraud from overcharged services, and to hold open
the gateways for sizeable money laundering flows into the Wall Street
banks, those hollow structures that closely resemble a coke addict with
dark teeth, wretched bones, wasted organs, lost attention, and a
listless gait. The Greek showcase is coming to a neighborhood near you
in Western Europe and Great Britain, soon to feature debuts across North
America. No, the United States is not immune from the horrors of ruin
since its marquee billboards read Zero Percent. It only means the
wrecking ball works from the inside out, serving as the central needle
in the Black Hole. An outline of the End Game can be written. This
article is not comprehensive by any means. But it serves as a decent
posting on an outhouse wall. Consider the following as musings in
observation of Uncle Sam on death row. They bear no logical flow, just
random concepts.
africom: Why the US is establishing military bases in Africa +
The bases are in Mauritania, Burkina Faso, Ethiopia, Djibouti, Uganda, South Sudan, Kenya, and Seychelles. Many experts believe that the special operation forces which have played a massive role in the Obama administrations national security strategy are working all over the globe and not just in war zones which bring in to question what the real motives are.
Enemy Inside: Pro- & anti-Islam radicals caught in web of hate +
John Williams of Shadowstats.com Interview: The Next Crash Will Be A Lot Worse!
European meeting to be held to raise awareness of “the eugenic current of European society”
By Madison Ruppert:
A
meeting to be held in Strasbourg, France hosted by the Parliamentary
Assembly of the Council of Europe (PACE), this week will address the
alleged “eugenic current of European society” and the subject of
“Eugenics and human rights, issues of prenatal screening.”
Population control
has become a major issue in recent years due to major fears surrounding
a growing world population especially amongst some of the most
impoverished nations, as evidenced by a UK-funded program in India.
Currently, the highest court in Europe is considering a complaint
from a woman who claims that she was not given a prenatal screening
which would have revealed her daughter’s Down syndrome and thus allow
her to choose to abort her child.
This Thursday the roundtable discussion hosted by PACE will be held
with European associations of individuals with Down syndrome in response
to the case currently being considered by the European Court of Human
Rights.
There have been many heated statements on the subject, with some
saying that the real topic surrounds “how European society defines
humanity.”
Thus, the campaign “Stop Eugenics Now” has been created, along with a declaration entitled “Eugenics is not a human right.”
The case this campaign is speaking out against involves a woman from
Latvia who gave birth to her daughter in June of 2002, just to find out
she had Down syndrome.
TSA Whistleblowers Tell All!
Explaining how his job involved filing reports on other TSA screeners who didn't follow procedure, "Rob" expressed his alarm at the fact that criminals were being hired who exhibited the behavior of "psycopaths."
"We have a program in the state of Rhode Island where we take prisoners who are out for non violent drug offenses and everything else -- basically sociopaths -- and we're sending them to a ten day course and getting them out in uniform out checking people," said the whistleblower.
Jesse Ventura to Military Personnel: "Remember Your Oath!"
Rosenberg Opens Pandora's 'Global Economic Shock' Box
Chris Martenson on Shadow Bank Runs and how Central Banks are Missing the Boat!
Herman Van Rompuy has a plan for more European Integration. This is the
man that Nigel Farage "called out" in European Parliament not long ago,
as being a no body -- someone that "no one had ever heard of." That's
not the case anymore. Now everyone knows who Van Rompuy is, whether they
like it or not. He is making headlines recently with a reportedly
scaled back version of a plan for the future of the Eurozone to be
debated upon at the EU summit this week. A frequent guest of the show,
Nigel Farage, has expressed his displeasure with Van Rompuy in the past,
but it now appears that he may not be the only prominent entity gearing
up to do so. Germany appears apprehensive with te plan, as it has been
recently downgraded by Egan Jones. We'll discuss with our guest Chris
Martenson.
Meanwhile, is 2012 looking more and more like the new 2008?
Meanwhile, is 2012 looking more and more like the new 2008?
26 Jun 2012
Drones vulnerable to 'terrorist' hijacking
A small surveillance drone flies over an Austin stadium, diligently
following a series of GPS waypoints that have been programmed into its
flight computer. By all appearances, the mission is routine.
Suddenly, the drone veers dramatically off course, careering eastward
from its intended flight path. A few moments later, it is clear
something is seriously wrong as the drone makes a hard right turn,
streaking toward the south. Then, as if some phantom has given the drone
a self-destruct order, it hurtles toward the ground. Just a few feet
from certain catastrophe, a safety pilot with a radio control saves the
drone from crashing into the field.
From the sidelines, there are smiles all around over this
near-disaster. Professor Todd Humphreys and his team at the University
of Texas at Austin's Radionavigation Laboratory
have just completed a successful experiment: illuminating a gaping hole
in the government’s plan to open US airspace to thousands of drones.
They could be turned into weapons.
Computers on Wall Street are Buying and Selling to Themselves! - Mike Krieger
As if we needed another story to further solidify the running joke
that has become the U.S. stock market. In this article from Bloomberg
we find out that:
High-frequency trading firms are drawing scrutiny from U.S. regulators seeking evidence that they may be distorting market prices by conducting transactions with themselves, said two people with knowledge of the matter.
But fear not America, the SEC is on the case!
The Securities and Exchange Commission and Commodity Futures
Trading Commission have sharpened their focus on high- frequency and
algorithmic trading since May 6, 2010, when about $862 billion was
erased from stock values in 20 minutes before share prices recovered
from the plunge.
Wow, that makes me feel a lot better. Two years “sharpening their focus.”
Oh well, perhaps the CFTC will do something?
The CFTC has been considering issuing a so-called concept
release, a step prior to a formal rulemaking, which could lead to new
testing, supervision and oversight requirements for high- frequency and
automated trading.
They are “considering a concept release!” Must be busy working on
the Jon Corzine case right? Which beach is he laying out on this week?
GREEK DEFICIT: How Berlin encouraged Papandreou to big-up the 2009 Greek deficit - The Slog
Defence of German banks a key factor
Schäuble and Merkel….implicated in an incredible scam
How Venizelos fired ELSTAT moles to cover up the truth
Spanish European Commissioner backs story of international fraud
The Western MSM have never questioned the ‘received truth’ that Athens understated its liability and obligations for several years following the launch of the euro. But few if any outside observers know the truth behind what happened when Papandreou took over the Premiership in Greece….and for Machiavellian reasons, the debt was suddenly overstated.
In October 2009, George Papandreou stepped into what one Athens source has called ‘the shitfilled shoes of Kostas Karamanlis’, and discovered that the two previous administrations had lied about both the size of the National Debt, and the ongoing level of government spending. In Greece, the folks you go to see to find out this kind of stuff hang out in an organisation called ELSTAT – the Hellenic Statistical Authority.
What happened in the weeks following was quite bizarre – and pretty fully documented.