Austerity drives Greeks into street by Stefanelonikitelo
MISSION STATEMENTS
- Jefferson
"To stand in silence when they should be protesting makes cowards out of men."
- Abraham Lincoln
"Our lives begin to end the day we become silent about things that matter."
- Dr. Martin Luther King Jr.
"Powerlessness and silence go together. We...should use our privileged positions not as a shelter from the world's reality, but as a platform from which to speak. A voice is a gift. It should be cherished and used."
– Margaret Atwood
"There is no act too small, no act too bold. The history of social change is the history of millions of actions, small and large, coming together at points in history and creating a power that [nothing] cannot suppress."
- Howard Zinn (historian)
"All tyranny needs to gain a foothold is for people of good conscience to remain silent"
- Thomas Jefferson
30/11/11
28/11/11
11 CIV 8500 KEENAN , ET AL
reposted from here / αναδημοσίευση απο εδω
The lawsuit that could end the gangster rule of Western civilization
8. At the end of the World War II, with Communist and Kuomintang factions at war in China, the International Community and the Chinese assented to the Gold being placed under the overt control of Indonesian President Soekarno. Soekarno then, on August 17, 1945, came to be known as M1 under United Nations Approval No. MISA 81704 “Operation Heavy Freedom. This was because much of the world’s gold had been delivered into Indonesia and the Philippines. Canada, Australia, Great Britain, India and other British Colonies sent their gold to the so called “impregnable Singapore”. The Japanese, as per the arrangements agreed to by Hirohito in the 1921 Pact Between Nations made in London, delivered much of this gold to Indonesia (Then a Dutch Colony) and to Philippines (Then a US Colony) into secret bunkers that had been mostly constructed by the Japanese between 1924 and 1945. This is why the Allied troops in Malaya had no air cover or sufficient supplies to that would have allowed them to resist the Japanese. Singapore had to fall so most of the global wealth could be “lost” into a secret system that made the gold standard redundant and fiat currencies a reality.
....relevant previous posting ISLAMIC MACROECONOMICS : SUNA vs FIAT MONEY
more...
ΓΙΑ ΠΑΝ ΕΝΕΔΕΧΟΜΕΝΟΝ...
αναδημοσίευση απο εδω / reposted from here
Οι βρετανικές πρεσβείες θα φροντίσουν να παρέχουν ρευστό σε όσους πολίτες της χώρας δεν θα μπορέσουν να πάρουν λεφτά από τις τράπεζες της ευρωζώνης, λόγω της κατάρρευσης του ευρώ(!) αναφέρει χαρακτηριστικά η εφημερίδα!
23/11/11
22/11/11
ΕΡΧΟΝΤΑΙ ΟΙ ΕΣΤΕΜΜΕΝΟΙ...
αναδημοσίευση απο εδώ / reposted from here
The European project is now sustained by coup
Daniel Hannan
Daniel Hannan is a writer and journalist, and has been Conservative MEP for South East England since 1999. He speaks French and Spanish and loves Europe, but believes that the European Union is making its constituent nations poorer, less democratic and less free.
21/11/11
THE VERY NARROW SIGHTED NAROPEAN UNION
Opposite of wide is narrow, hence the Naropean Union of the 21st century...
11/11/11
ΕΜΟΥ ΤΟΥ ΙΔΙΟΥ
Χωρίς καπνούς -απο την καπνοδόχο του προεδρικού μεγάρου- δημοσιοποιήθηκε -φευ! κι εν τέλει- απο τους τρείς παρευρισκόμενους πολιτικούς αρχηγούς ο νέος πρωθυπουργός, ο κος Λουκάς Παπαδήμος.
Ο κος Παπανδρέου, του οποίου τελικά η γνωσιακή καμπύλη σε θέματα παγκόσμιας διακυβέρνησης και η μακροχρόνια συμμετοχή του σε σχετικά διεθνή fora δεν τον βοήθησαν να πλοηγήσει με την επιτυχία ενός Οδυσσέα το λαβωμένο σκαρί της χώρας και την ψυχή του λαού της πίσω στην Ιθάκη με το ταξίδι-εθνική τραγωδία που σαλπάρισε μεσούσης της καταιγίδας απο το Καστελλόριζο. Το πλοίο του και το πλήρωμά του, δίκην Τιτανικού, δεν άντεξε ούτε τις Σειρήνες και τις Κίρκες των "διεθνών αγορών", ούτε τους Λαιστρυγόνες και τους Κύκλωπες των fora που τον συνόδευσαν στον υπερεικοσιτετράμηνο τοκοφόρο "υπέρ τρίτων" πλου του απο το κακό στο χειρότερο. Στο τέλος, το ραντεβού με το παγόβουνο των "διεθνών αγορών" και την ανυποληψία σε διεθνές επίπεδο ήταν αναπόφευκτο.
Μιάς και τα διευθυντικά στελέχη κρίνονται απο τα αποτελέσματα, ο κος Παπανδρέου και οι κυβερνήσεις του διεκδικούν παγκόσμια αναγνώριση ειδικού τύπου, μιάς και κατάφεραν επί πρωθυπουργίας του να μετατρέψουν τα ελληνικά κρατικά ομόλογα σε σκουπίδια μηδενικής αξίας -junk status.
Αν και γνώριζε πολύ καλά και την προσωπική ανεπάρκειά του να διοικήσει το σκάφος μέσα στην κρίση καθώς και την αναποτελεσματικότητα της κομματικής αυλής του να παράγει ανάπτυξη και θέσεις εργασίας - ήδη απο τον έκτο μήνα μετά τις εκλογές του Νοέμβρη του 2009,- προτίμησε για τους δικούς του "ανεξήγητους" λόγους να φορτώσει με πολλά δις φρέσκα δολλάρια και ευρώ το έλλειμα της χώρας, εκτοξεύοντας το δημόσιο χρέος και τους νέους τόκους τόκων στην στρατόσφαιρα και υποθηκεύοντας εμπραγμάτως και βάσει του αγγλοσαξωνικού δικαίου τους πόρους και την περιουσία του Ελληνικού κράτους για δεκαετίες.
Βύθισε την κοινωνία στην μιζέρια και την κατάθλιψη καίγοντας την ελπίδα και τις ψυχές, έστειλε δεκάδες χιλιάδες άξιων εργαζομένων στην μετανάστευση, κατέστρεψε χιλιάδες επιχειρήσεις, ανέβασε την ανεργία μιάν ανάσα απο τον οριακό αριθμό του ενός εκατομμυρίου συμπολιτών μας, βύθισε την χώρα στην ύφεση -6% και τον στασιμοπληθωρισμό , διέλυσε την φοροεισπρακτική μηχανή και όποια φοροδοτική συνείδηση είχε απομείνει, συμπαρέσυρε την Κύπρο στο χείλος της καταστροφής, γελειοποίησε την χώρα στα διεθνή fora...
Και δυστυχώς, ενώ οι διαχειριστές των εταιρειών υπόκεινται μετά απο τέτοια καταστροφή σε πλήθος διαδικασιών απο τις αρχές και τους μετόχους, ο κος Παπανδρέου καλύπτεται στο απυρόβλητο απο τους συστημκούς νόμους που κόπηκαν και ράφτηκαν απο την κοινοβουλευτική παρέα με σκοπό την θωράκιση των αποτυχημένων και την αποφυγή των όποιων ποινικών ευθυνών για τους επιζήμιους διαχειριστές του κράτους.
Η τελευταία περίοδος της καταστροφικής Παπανδρεικής διακυβέρνησης, και το περίφημο δημοψήφισμα που προτάθηκε -επισήμως- "απο πασοκικούς εγκεφάλους" ελάχιστες μέρες πρίν την χορήγηση της "δόσης" , άνοιξαν τον δρόμο για την "παραδειγματική τιμωρία" της Ελλάδος απο το δίδυμο Μερκοζύ, την εύσχημη δραπέτευση του κου Παπανδρέου απο τις οχλήσεις των αντιδρώντων και τις διαχειριστικές ευθύνες, καθώς και την έλευση του κου τραπεζίτη στο τιμόνι της χώρας δίκην λυτρωτή, εναν απο μηχανής θεό στην νεοελληνική τραγωδία " Πασοκ εν εξουσία".
Ετσι λοιπόν, ο νέος πρωθυπουργός θα πρέπει με το "καλημέρα" να εκταμιεύσει απο τους πρώην συναδέλφους του την "έκτη δόση" προς την χώρα του, και να απαντήσει δημοσίως και επι της ουσίας στην αριστερά και τις θέσεις που παρουσιάζονται στο παρακάτω απόσπασμα απο πρόσφατο άρθρο του Ν.Μπογιόπουλου στον Ριζοσπάστη :
Να, λοιπόν, που πάει - όλη - η 6η δόση, όπως όλες οι προηγούμενες και όλες οι επόμενες:
9/11/11
ΕΓΚΑΙΝΙΑ ΣΤΟΝ ΑΓΩΓΟ ΑΕΡΙΟΥ ΡΩΣΙΑΣ-ΓΕΡΜΑΝΙΑΣ "ΝΟΡΘ ΣΤΡΗΜ"(Βόρεια Ροή)...
... Control oil, and you control nations.
Control food, and you control people...
6/11/11
3/11/11
MERKOZY vs PAPANDREOU @ US BANKS
reposted from here / αναδημοσίευση απο εδώ
Brilliant Moves by Papandreou;
EMU Mentions Eurozone Exit Possibility First Time Ever;
Not only is he fed up with Eurocrats, he is fed up with Greek protests as well as pressure from political opposition.
I talked about this previously in my post In Praise of Papandreou's Referendum Decision; Eurocrats Terrified of Democracy; Parade of Cowards
Who the Hell is "Merkozy" to Dictate Terms of a Greek Referendum?
The reaction to Papandreou's referendum proposal was swift and severe, not only in the markets, but also at the emergency meeting Cannes between Merkel, Sarkozy, and Papandreou.
Sarkozy and Merkel proclaimed the Referendum was about an exit from the Eurozone.
Really? I ask again, Really?
Who the hell is "Merkozy" to dictate terms of a Greek referendum?
That said, I appreciate the fact that Merkozy now accept the simple fact that an exit from the Eurozone is possible.
This is a major step in the right direction, even if it constitutes effective blackmail on Greece.
Blackmail by IMF, Merkozy
The IMF upped the ante saying Greece will not get the next tranche of money until after the referendum. Hmmm. It seems the IMF and EMU should have thought about that before the last release of funds.
By the way, this helps explain the timing of Papandreou's announcement.
Papandreou's Timing Perfect
Papandreou cleverly waited until he had the funds and anti-Papandreou sentiment was extreme before announcing his referendum ploy.
What transpired immediately following his announcement was a series of on-off-on referendum announcements culminating with Papandreou convincing his cabinet to go along with the idea (please see Greek Referendum Off or On? Who is in Control? Anyone?)
That was an incredibly gutsy but also exceptionally well-timed move by Papandreou.
Yes or No, But to What?
With the above backdrop, please consider Greece to Decide Euro Membership in December Vote as EU Cuts Aid Payments
European leaders cut off aid payments to Greece and said a referendum in five weeks will determine whether the debt-strapped nation becomes the first to exit the 17-country euro area.Who Has the Upper Hand?
Crisis talks ended in the French resort of Cannes late yesterday with German Chancellor Angela Merkel and French President Nicolas Sarkozy withholding 8 billion euros ($11 billion) of assistance and warning Greece it will surrender all European aid if it votes against a bailout package agreed upon only last week.
“The referendum will revolve around nothing less than the question: does Greece want to stay in the euro, yes or no?,” Merkel told reporters. Sarkozy said Prime Minister George Papandreou’s government won’t get a “single cent” of aid if voters reject the plan.
The Greek premier declined to say how the referendum will be worded, saying it “is not the moment” to give the exact language, only that “the question is not just about a program but do we want to be in the eurozone.” More than seven in 10 voters said they favored Greece remaining in the euro, a poll last week of 1,009 people published in To Vima newspaper showed.
“Markets will remain very nervous, but with the hope that this hard stance will get to more clarity on Greece’s situation soon,” Marco Annunziata, chief economist at GE Capital in San Francisco, said by phone. “The EU is casting this as a stark choice on Greece’s part rather than reopening discussions on the bailout package.”
Quite frankly that Bloomberg headline is nothing but bullsheet until Papandreou relents. But why should he?
Who is it that has the upper hand?
I encourage Papandreou to go "All In". He has nothing to lose. He will not win the next election and he is tired of playing puppet to Merkozy.
Bear in mind Greece desperately needs reforms. However, the manner in which the IMF, EMU, and Merkozy have forced various issues is in a manner that helps only Greek and French banks, and not Greece at all.
Most Greeks would agree with that assessment, whether it is truer or not. That is the likely reason Papandreou's cabinet went along with the referendum idea, after initially rejecting it.
In short, this was a brilliant series of perfectly timed maneuvers that shoves the ball smack back into the face of of the arrogant Merkozy coalition.
Stuff the Ball Down Merkozy's Thoat Until they Puke
Papandreou's next move should be to stuff the ball down the throats of Merkozy so hard that both of them puke.
All he has to do to accomplish that would be to go ahead and word the referendum how he wants. In short, the referendum needs to include a proposal to stay in the Eurozone, as well as a proposal to reject the terms of the EFSF as presented.
Look at the beauty of this setup from the point of view of Papandreou.
Assuming the proposal to stay in the Eurozone passes but approval of the terms of the EFSF does not, Merkel and Sarkozy will have to do one of two things:
- Kick Greece out of the European Monetary Union
- Renegotiate terms of the EFSF
Either way, Papandreou wins.
Explanation of My Position
Please do not read any more into this than exists. The facts of the matter are French, German, and other European banks made stupid loans to Greece, Portugal, Spain, Ireland, etc.
Banks that make stupid lending decisions (and not taxpayers) should pay the price for those actions.
Greece desperately needs reforms, particularly in the public union area. I support those reforms.
However, I do not support the bailing out of banks. Unfortunately, all this alleged "help" to Greece is nothing more than an obvious attempt to bail out banks at the expense of Greece and European taxpayers in general.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Αρπαχτές στις...Βρυξέλλες...:)
MF Global Bankruptcy Exposes Vulnerability of U.S. Banks to Eurozone Debt Crisis
MF Global filed for Chapter 11 bankruptcy Monday after credit downgrades led to margin calls on some of the $6.3 billion in Eurozone sovereign debt the bank held. The position was five-times MF Global's equity.
Although the major U.S. banks have less exposure relative to available capital, their many tendrils in Europe - particularly to European banks - will inevitably drag them into any financial meltdown in the Eurozone.
Even the U.S. banks' estimated direct exposure to the troubled European nations of Portugal, Ireland, Italy, Greece and Spain (PIIGS) is disturbingly high - equal to nearly 5% of total U.S. banking assets, according to the Congressional Research Service (CRS).
And according to the Bank for International Settlements (BIS), U.S. banks actually increased their exposure to PIIGS debt by 20% over the first six months of 2011.
But the greatest risk is the multiple links most large U.S. banks have to their European counterparts - many of which hold a great deal of PIIGS debt.
"Given that U.S. banks have an estimated loan exposure to German and French banks in excess of $1.2 trillion and direct exposure to the PIIGS valued at $641billion, a collapse of a major European bank could produce similar problems inU.S. institutions," a CRS research report said
Of course, the major banks say their exposure to the Eurozone debt crisis is much lower because they've bought credit-default swaps (CDS) to hedge their positions. Credit-default swaps are essentially insurance policies that pay off in the event of a default.
Unfortunately, this same strategy was one of the root causes of the 2008 financial crisis involving American International Group (NYSE: AIG) and Lehman Bros.
"Risk isn't going to evaporate through these trades," Frederick Cannon, director of research at investment bank Keefe, Bruyette & Woods Inc., told Bloomberg News. "The big problem with all these gross exposures is counterparty risk. When the CDS is triggered due to default, will those counterparties be standing? If everybody is buying from each other, who's ultimately going to pay for the losses?" earlier this month.
Indecent Exposure
Although the next MF Global will be tough to spot - most small brokerages that clear futures trades are private - the major U.S. banks all have enough exposure to put them at risk.U.S. banks have made about $181 billion in direct loans to PIIGS nations, according to BIS.
One bank, JPMorgan Chase & Co. (NYSE: JP) already has been stung by the Eurozone debt crisis via the MF Global bankruptcy; it was the fallen firm's largest creditor with $1.2 billion in exposure.
According to JPMorgan's own disclosures, it has $14 billion in direct exposure to the PIIGS nations, with 26% of that tied to sovereign debt.
Bank of America Corp. (NYSE: BAC) reported $16.7 billion in exposure, while Morgan Stanley (NYSE: MS), Wells Fargo & Co. (NYSE: WFC) and Goldman Sachs Group Inc. (NYSE: GS) reported exposures between $3 billion and $5 billion.
Citigroup Inc. (NYSE: C) reported exposure in August to the PIIGS of $31.7 billion - more than double the $13.5 billion it reported in July.
The French (and German) Connection
Those figures don't include the indirect exposure via their connections to the European banks most at risk if any of the PIIGS default. Morgan Stanley, for example, reported exposure to European banks in excess of $60 billion - three times the company's market cap.While U.S. banks have loaned just $60.5 billion to banks in the PIIGS nations, they've lent $275.8 billion to French and German banks, according to BIS.
"Although American banks have limited their exposure to Greece, they have loaned hundreds of billions of dollars to European banks and European governments that may not be capable of paying them back," said Money Morning Chief Investment Strategist Keith Fitz-Gerald.
With U.S. banks so deeply connected to those in Europe, particularly through the $600 trillion global credit-default swap market, Fitz-Gerald said a meltdown over there would trigger a meltdown here in the United States.
"Imagine the fallout from a $600 trillion explosion if several banks went down at once," Fitz-Gerald said. "It would eclipse the collapse of Lehman Brothers in no uncertain terms."
Essentially, the major U.S. banks have made a collective bet that the Eurozone governments will bail out any European banks that get into trouble - a faith-based bet that could backfire if the governments fail to act accordingly, either because of political resistance or because they won't be able to raise the money.
"We could have an AIG moment in Europe," Peter Tchir, founder of TF Market Advisors, told Bloomberg News. "Let's say Greece defaults, causing runs on other periphery debt that would trigger collateral requirements from the sellers of CDS, and one or more cannot meet the margin calls. There might be AIGs hiding out there."





