17 thoughts on “NEWS AND VIEWS FROM THE NEFARIUM JULY 16, 2015”

  1. Thank you dr. Farrell. Your new book was an eyeopener for me, and listening to your conversation with CAF, was adding a lot to understand several topics.

    As many people in Europe now are experiencing, the EU-project is destroying the concept of nation state, and by that democracy, or what we have, the parlamentary election system, the majority rules.

    Our politicians are now more or less hostage to the banking corporate elite, and the electorate can not any longer figure out who to trust. Whoever you vote for, the new one play the same game as those who lost the last election

    This situation is dangerous if it continues, and it can play out in very sinister different directions.

    Dag

  2. Excellent summation of the Greek debacle. Tsipras is spineless and capitulated while whining he shouldn’t and Varafoukas, like any good socialist finance minister, resigned immediately after the referendum, knowing full well what was about to go down, and scampered off to his wealthy wife’s island villa to avoid the parliamentary vote, issuing snarky tweets and screeds from his beach chair.

    What he did Not do, and which was gross negligence bordering upon treason, was to prepare for this obvious eventuality and organize for the possibility (read: inevitability) of a Grexit: print reserve drachmas, prepare the banking sector and bureacracy and draft the necessary emergency legislation, etc. If the Syrizia government had laid prudent contingency plans, then they would indeed have had serious leverage with the Troika and would not today have needed to sell their country for a fiat loan exacting such draconian terms that it was obviously never meant to be accepted in the first place. Schauble made this clear as day, and is still calling for a Grexit, and he really is the only realist in this epic debacle. But no, Varafoukis, the self-styled caviar-gauche Game Theorist extraordinaire did absolutely Nothing. The entire Greek goverment is a Potemkin village.

    More broadly though, this is the beginning of the end of the euro. It will not survive, as this horror show has shown clearly that it is economically untenable for the southern tier countries, the so-called PIIGS, which are subsidizing German exports at the expense of their own economic viability. This is why they are mired in depression; Germany has a weak export currency in the euro and a stable internal Eurozone market to sel into, but the southern tier is saddled with a massively overvalued currency which they can do nothing to remedy, as they cannot devalue. The only solution is to exit, which they will eventually do. And just this north/south scenario was seen at the outstet by many Europeans, and while the euro was still being “debated” many advocated, myself among them, that there be two euros, one for the northern tier countries and second for the Mediterranian states — with the problem child being France, which sat between both chairs and still does (warm blood in a cold climate). But no, one ring to rule them all. Well, it simply can’t work, and the wheels are now coming off this bankster-technocratic clown car once and for all.

    At the same time, this hoffific spectacle is being watched by all of Europe, particularly Great Britain, which will hold its Euro zone refendum next year and now is almost assured of leaving. I have never seen European antagonism at a higher pitch, and there is anger everywhere, and this clown show is being met with scorn. The EU is an abject failure, and is creating the very divisions it was meant to resolve. In France, Marine Le Pen of the populist, right-wing Front National, who is already strongly leading in the next French presidential election in 2017, has stated she will pull France from the euro zone, and the whole sorry spectacle will doubtless collapse by 2018.

  3. While Greece has a long history of profligate spending, it’s not alone in over promising goodies–the US is as guilty as anyone. Greece also had plenty of help from criminals like Goldman Sachs. That’s why attention is continually being directed away from how Greece, given its history, was allowed into the EU in the first place. What’s happening now, is right out of the pages of John Perkins’ book, “Confessions of an Economic Hit Man”. I think it also foreshadows what’s to come for any country that has signed onto the treaty, masquerading as a trade deal–the TPP.

  4. It shouldn’t be forgotten Western Thrace has a sizeable Turkish minority and a certain line of German loans is specifically for that region with the provision that it becomes a ‘special economic zone’.

    Now I wonder if the old allies are up to something?

  5. Just one more point and I apologize for the poor grammar . Greece has a law that only Greeks can buy property freely in Greece . Also the coast line is legally protected from development. Knowing what waterfront property is now worth , especially in a mediterranean country,germany wants access to these trillion dollar potential properties but must force Greece to change its laws. Germany joked about Greece paying its debt by selling its islands to germany,apparently this was no joke even at the time.

    1. According to a recent Max Keiser Report those laws are being re-written.
      As w/MERS mortgages & telecommunications laws in the states[to avoid prosecution under law]

  6. Thank you for an excellent N&V on this subject.
    Enough to say that what you say makes complete sense – not that it is reassuring, by any means!
    Again, thanks.

  7. This problem is really quite simple,Greece was roped into buying the Goldman Sachs mortgage based bonds securities,a high risk investment but a sure thing and a real money maker. Deutschebank,who brokered the deal to the then new democracy leadership in Greece,advised/insisted that Greece base their new issue of Greek bonds on the collateral maturing value of the Goldman Sachs bonds. Then the german bank made a deal with fitch to triple A rate the Greek state bonds and much of europe bought them also at the advise of germany. Trouble was when the bonds and securities sold by GFoldman Sach were discovered to be fraudulantly counterfiet, the Greek state issued bonds based on their reaching maturity vanished and left Greece owing everyone in europe money. Many othe r countries did the same deal or similar ones at the advice of the german banking industry thus helping spread the goldman Sachs contagion through out the world and the criminals making a huge profit from the counterfeit bonds and securities. All the european countries that bought these counterfeit bonds had to first change their laws protecting the peoples money from high risk investments. Tsipris is a fake as is his party, they knew the end result would be disaster for the Greek people as now the legitimate funds of the pensioners and workers will now be used to pay for the theft of the greek banks. As Goldman Sachs and other american banks and investment firms have been successfully prosecuted for issueing counterfeit bonds and securities, Greece could take the american case directly to the european int. court and sue the german banks along with the Goldman Sach people for fraud and easily win but then Tsipres would also have to prosecute the Greek politicians involved as well as the bank personel that collaborated with Deutschebank to perpetrate this swindle. Maybe even Tsipres himself was part of the deal and scored his end of the take. The greek people owe nothing, especiaslly the super high rent the IMF has charged for money given directly to german banks who want to be paid for setting up Greece. I believe most of the IMF’s top officials are former Goldman Sachs employee’s.

    1. Some dodgy Goldman Sachs securities were the least of their problems. Southern Europe has been an accident waiting to happen ever since the start of the Euro.

      I’m cautiously hopeful that our 2017 EU refendum might not even be necessary.

  8. Gosh, this is such a complicated subject. Still, the European Monetary Union (EMU) with it”s “Euro” currency has no future. It doesn’t benefit the poorer Med countries like Greece and even German don’t much like the idea of “bailing” out the slackers.

    The Euro will fail so the question is, What’s next? A return to sovereignty for the countries of Europe (which makes a lot of sense given their uniquely developed languages & cultures)? Or will there somehow be another more successful effort at creating a supra-national European union of unified economics and politics (similar to the USA)?

    Considering the results of elections, it’s clear that most people on the street would prefer to return to national sovereignty. But if the American “Civil War” taught us anything, it’s that the big business and big banking powers will not let go without a very nasty fight.

  9. I agree w/your conclusion that it’s either the corporations/banks OR
    The popular will.
    Also, I want call attention to the similarities of “Western” democracies and European democracies. the “regulatory bureaucracies”, unelected unaccountable agencies in charge; are what the TPP/TTIP for Western democracies are all about. They make a country’s constitution obsolete. Redundancy, as the currency being issued by private banking really takes the bite out of sovereignty to begin with; both in the U.S. & the European Union.
    By the way, the biggest industry in Greece is her shipping empire w/those extraordinaire billionaires that pay NO Taxes![written into Greek law]. Is it any wonder that the oligarch’s won? F. William Engdahl suggest that the Syriza government are shipping tycoon’s puppets-in-place.
    It does look like the intelligence/banking cartel used both the WW11 German Nazis & the western Oligarchy branches to coordinate & pursue on ongoing organizational hierarchy to achieve world domination through a technocracy w/no elected or accountable institutions to their citizenry[aka political prisoners].
    Now, to an unprecedented extent, America itself is being treated as an occupied territory[14 years of national emergency COG].
    This Banking/Intelligence WW11 cartel[actually of ancient origins] has transformed “western/Europe into a social system dominated from above, rather than from below. These Dark Powers forces from within & without are changing bottom-up elective democracies into top-down empires.
    Again, it’s warfare of the private few against the public many.
    Elected & accountable versus unelected and unaccountable.

  10. Well the barbarians have taken the city the Third Reich has resurrected. Who will survive it’s thousand Reign Of Terror we’re all utermench now either slave labor to be worked to death or starve to death or killed for kicks by our narcissistic elites.

  11. Martin Bormann, wherever he is, must have a grin a mile wide, because remember what he said, that he wanted Germany to rule over Europe by “elastic political means”. Well it seems that Frau Merkel is following orders laid down a long time ago. The EU is fascist from top to bottom and as long as it exists, the countries “in it” will be taking their orders from Germany via Brussels. So as Mr. Putin looks over the shambles that the EU has become, he might just have some contingency plans up his sleeve, or to put in plain terms, he just might have some “serious” benefits he could offer any country that contemplated “bailing”.

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