11 Feb 2012

136% of Greece Now Officially Belongs to the World Banking Syndicate!


Tyler Durden's picture
Some of our German readers may be laboring under the impression that following the €110 billion first Greek bailout agreed upon and executed in May 2010, the second Greek bailout would cost a "mere" €130 billion. Alas we have news for you - as of this morning, the formal cost of rescuing Greece for the adjusted adjusted adjusted second time has just risen to €145 billion, €175 billion, a whopping €210 billion, bringing the total explicit cost of all Greek bailout funds to date (and many more in store) to €320 billion. Which incidentally isa little more than Greek GDP (which however is declining rapidly) at 310 billion, only in dollars. So as of today, merely the ratio of the Greek DIP loan (Debtor In Possession, because Greece is after all broke) has reached a whopping ratio of 136% Debt to GDP. This excludes any standing debt which is for all intents and purposes worthless. This is secured debt, which means that if every dollar in assets generating one dollar in GDP were to be liquidated and Greece sold off entirely in part or whole to Goldman Sachs et al, there would still be a 36% shortfall to the Troika, EFSF, ECB and whoever else funds the DIP loan (i.e., European and US taxpayers)! Another way of putting this disturbing fact is that global bankers now have a priming lien on 136% of Greek GDP - the entire country and then some now officially belongs to the world banking syndicate!

Marc Faber - Is Greece Irrelevant for global Markets?

Massive Street Protests Wage War On ACTA Anti-Piracy Treaty

The world is witnessing the largest offline protest against copyright legislation today. Massive demonstrations against the draconian anti-piracy treaty ACTA are spanning four continents, with protests in more than 200 European cities alone. Hundreds of thousands of people are taking to the streets to prevent their countries and the European Parliament from putting the free Internet at risk by ratifying ACTA, 
Last month the European Union officially signed the controversial “anti-piracy” trade agreement ACTA. The EU followed in the footsteps of Australia, Canada, Japan, South Korea, Morocco, New Zealand, Singapore and the United States, who already signed it last October. This brings ACTA a step closer to passing, but individual EU member states and the European Parliament still have to ratify the treaty later this year.
To prevent this from happening, hundreds of thousands of people across the world are taking to the streets today, and millions more are expected to do their part online. In Europe demonstrations are being held in more than 200 cities, the largest in Sofia, Bulgaria, with more than 50,000 participants. These staggering numbers amount to the greatest offline protest against any type of copyright legislation, ever.

FBI vs Gold Standard 'Extremists' - Max Keiser

The gold standard extremism and how your dollar got to be worth just 3.8 cents. In the second half of the show, Max talks to Francine McKenna of reTheAuditors.com about the crimes and illegitimate activity of the MF Global collapse. Source

What does Ron Paul have up his sleeve?

Ron Paul is America's leading voice for limited, constitutional government, low taxes, free markets, sound money, and anti war foreign policy. Source

Greeks protest oncoming austerity package as ministers resign

The endurance of Greeks in the fourth year of recession has reached a breaking point.Street-level pressure is mounting against a 3 billion euro austerity package that awaits legislation in parliament on Sunday. Press TV's Constantine Venizelos‎ reports from Athens. Source

Entering into The Age of Darkness with Dr. Francis Boyle

Teaching Fellow, Harvard University Department of Government (1976-78) (international organizations, international law, international human rights).

Nuclear Armageddon if WWIII Starts: Lyndon LaRouche Reports

On the Friday edition of the Alex Jones Show, Alex talks with economist Lyndon LaRouche about the war brewing in the Middle East and the dismal state of the economy. Parts 2-5>>

Incomplete Translation Troika Agreement Before Signing Away Greece! Old-school Financial Warfare and Occupation? Capital Account

Greek negotiations do not look like business as usual anymore. Greek police unions have called for the arrest of IMF and EU officials. One of the Greek coalition leaders said on television he was given an incomplete translation of the Troika agreement to look over before signing away his country. He has refused to sign onto it. Are we seeing in real time what happens under a modern financial occupation?