European Debt Crisis explained in 9 minutes
- Thread starter AsifAmeer
- Start date
MADE SENSE TO ME ( 1st Time Ever ) (bigsmile)
Subscribed To The Video , posting on FB .
BTW , ARE GREEKS GOING TO LEAVE EU OR NOT ?
http://www.irishtimes.com/newspaper/opinion/2012/0225/1224312371795.html
(hmm)
http://www.reuters.com/article/2011/11/03/us-greece-eu-eurozone-idUSTRE7A25H820111103
Its not an if or why. Its when and how.
Greece is really a non-issue for EU. The real drama is going to Italy! Thats the BIG whale! Here are the countries that will end up leaving the EURO.
1. Greece.
2. Spain
3. Portugal
4. Italy
Ireland is iffy.
If I had to explain the issue in 1 sentence that would be
Greece is really a non-issue for EU. The real drama is going to Italy! Thats the BIG whale! Here are the countries that will end up leaving the EURO.
1. Greece.
2. Spain
3. Portugal
4. Italy
Ireland is iffy.
If I had to explain the issue in 1 sentence that would be
CanPak2
Minister (2k+ posts)
Its the Neocolonial Private Power Domination Model, stupid!
[h=2]Argentine advice for Greece: Default Now![/h]Posted by EU Times on Feb 23rd, 2012
Here in Argentina, when we watch the terrible things that are happening today in Greece, we can only exclaim, Hey!! Thats exactly what happened in Argentina in 2001 and 2002!
A decade ago, Argentina too went through a systemic Sovereign Public [COLOR=#CC0000 !important]Debt collapse resulting in social turmoil, worker hardship, rioting and street fights with the police.
Some months before Argentina exploded, then-President Fernando de la Ra forced to resign at the height of the 2001 crisis had called back as finance minister the notorious pro-banker, Trilateral Commission member and Rockefeller/Soros/Rhodes protge Domingo Cavallo.
Cavallo was the gruesome architect of Argentinas political and economic capitulation to the US and UK when he was President Carlos Menems foreign minister and economy minister in the 90s.
Menem and Cavallo are primarily responsible for Argentinas signing of a formal Treaty of Capitulation with the UK/US [COLOR=#CC0000 !important]after the[/COLOR] 1982 Falklands War, opening up our economy to unrestricted privatization, deregulation and grossly excessive US Dollar-indebtedness, almost tripling our sovereign debt in a few short [COLOR=#CC0000 !important]years[/COLOR] (see my February 11, 2012 article British Laughter in the Falklands).
The Plan? Prepare Argentina for planned weakening, bankster take-over and collapse, so that a new weakening-takeover-collapse cycle could begin. In 2001, Cavallo was back to finish his work
During that very hot [COLOR=#CC0000 !important]summer[/COLOR] in December 2001, true to its Latin temperament, Argentina even had four (yes, 4!) presidents in just one week. One of them, Adolfo Rodriguez Sa, who only lasted three days, at least did one thing right, even if he did it the wrong way: he declared Argentinas default on its sovereign debt.
All hell broke loose! The international bankers and IMF did everything they could to break Argentinas back; global media pundits predicted all kinds of impending catastrophes. Debt default meant Argentina would have to weather the pain and agony alone, being cast out by the international [COLOR=#CC0000 !important]financial[/COLOR] community.
Youre not the boss of me!
But no matter how bad it got, it would always be better to do that without the bankers, without the IMFs, European Central Banks, US Feds and US Treasurys help. Better to sort out your mess on your own, than to have parasitic banker vultures carving out their pound of flesh from your nations decaying social and economic body.
And how bad did it get in 2002? A 40 per cent drop in GDP; 30 per cent unemployment; 50 per cent of the population fell below the poverty line; dramatic, almost overnight, devaluation against the US Dollar from 1 peso per dollar to 4 pesos per dollar (then it tapered down to 3 pesos per dollar); if you had a US dollar Bank account, the government forced you to [COLOR=#CC0000 !important]change[/COLOR] it into pesos at the [COLOR=#CC0000 !important]rate[/COLOR] of 1.40 pesos per dollar.
What did Argentinas government do wrong? In the months leading to collapse it bowed to all the bankers and IMF-mandated measures and recipes, which were actually the very cause of collapse: Argentina was loaned far more than it could pay back. And the banker knew it! This was described in our December 19, 2011 article, Argentina: Tango Lessons.
Successive governments since then have continued to be functional to banker interests by [COLOR=#CC0000 !important]rolling[/COLOR] over debt 30 to 40 years, aggregating huge interest and in 2006 paying the full debt to the IMF almost US$10 billion in full, cash and in US dollars (sole entity given most-favoured creditor status).
Same vultures circling Greece
Today, Greece is confronted with a similarly tough decision. Either it keeps its sovereignty, or it capitulates to the Vulture Troika the European Central Bank, European Commission and International Monetary Fund who work for the Bankers, not the People.
Not surprisingly, today we find that Greece too has a Trilateral Commission Rockefeller/Rothschild man at the helm: Lucas Papademos who is doing the same things Argentina did in 2001/2.
Argentina not only suffered Cavallo, but President De la Ra himself was co-founder of the local Global Power Masters lobby, CARI Argentine International Relations Council local branch of the New York-based Council on Foreign Relations, networking with the Trilateral Commission / Bilderberg mafia.
Greece today should do what Argentina did a decade ago: better to endure pain and hardship, and sort out the mess made by your politicians in connivance with international bankers on your own, wielding whatever shred of sovereignty you still have than allowing the Banker Vultures sitting in Frankfurt, New York and London decide your future.
Its the Neocolonial Private Power Domination Model, stupid!
Or do you think its just bad luck, bad judgment and coincidence that countries Greece, Argentina, Spain, Italy, Portugal, Brazil, Mexico, Iceland, Ireland, Russia, Malaysia, Ukraine, Indonesia, South Korea, Thailand, France, even the US and UK always borrow too much from the bankers and then discover that they cannot pay it back and that, symmetrically, the same bankers CitiCorp, HSBC, Deutsche, Commerz, BNP, Goldman Sachs, [COLOR=#CC0000 !important]Bank of America[/COLOR], JPMorganChase, BBVA lend too much to countries and then discover they cannot collect?
No! That is the very yellow-brick road that leads to the Emerald City of debt restructuring, debt refinancing, and sovereign debt bond mega-swaps that snowball sovereign debt, spreading it over 20, 40 or more years into the future. That guarantees unimaginably colossal interest profits for the Mega-Bankers and for all those nice politicians, media players, traders and brokers, without whom that would not be possible.
This is a Model. It must keep rolling and rolling and rolling As this Monster Machine steams forwards, it completely tramples on, overruns, destroys, flattens and obliterates people, [COLOR=#CC0000 !important]jobs[/COLOR], workers, health services, pensions, education, national security and just about everything human on its path. Run by parasitic usurer technocrats, it does not care what it destroys because it has no ethics; no [COLOR=#CC0000 !important]Christian[/COLOR], Muslim or Buddhist morals. It only worships a greedy golden idol of money, money and more money. This is 21st-century Money Power Slavery.
Three generations of Argentines saw hopes dashed and dreams thwarted by this Monster Machine, suffering the hardship, woes and humiliations that come when countries give up sovereignty.
Bring back the drach!
So, Greece: Just default on your sovereign debt! Just revert to the drachma! Just say No, thanks! to the German bankers and the Troika Vultures.
Please, Greece: just say No! to your Trilateral Commission president!
You will be [COLOR=#CC0000 !important]setting[/COLOR] a strong precedent for your European neighbours. Like Spain, which is hurting so badly right now for similar reasons. Like Italy, with its Trilateral Commission Prime Minister Mario Monti (also Trilaterals European Chairman!).
Greece, the Cradle of Democracy, can teach the world a lesson in True Democracy by kicking these parasites out of the country, which will hopefully trigger kicking them out of Europe and one day, kicking them out of the global economy.
Because what Greece and Argentina and Italy and Spain suffer today is not True Democracy, but rather a distorted ******* imitation that systematically yields control to the Global Power Masters at the Trilateral Commission, Bilderberg and Mega-Banking Overworld. They run the whole democracy show, whereby all countries end up having the best democracy that money can buy which is no democracy at all
The Money Power juggernaut is steaming full speed towards us all. If Greece falls, wholl be next? Spain? Italy? Portugal? Argentina (yet again!!!)?
So what if Greeces reverting to the drachma marks the beginning of the end for the euro? Let Italy revert to the lira, Spain to the peseta, Portugal to the escudo! A National Currency is a key National Sovereignty factor.
All governments should understand that you either govern for the people and against the bankers; or you govern for the bankers and against the people.
Adrian Salbuchi for RT
Adrian Salbuchi is a political analyst, author, speaker and radio/TV commentator in Argentina. www.asalbuchi.com.ar
Disclaimer: The views and opinions expressed in the story are solely those of the author and do not necessarily represent those of RT.
[/COLOR]
[h=2]Argentine advice for Greece: Default Now![/h]Posted by EU Times on Feb 23rd, 2012
Here in Argentina, when we watch the terrible things that are happening today in Greece, we can only exclaim, Hey!! Thats exactly what happened in Argentina in 2001 and 2002!
A decade ago, Argentina too went through a systemic Sovereign Public [COLOR=#CC0000 !important]Debt collapse resulting in social turmoil, worker hardship, rioting and street fights with the police.
Some months before Argentina exploded, then-President Fernando de la Ra forced to resign at the height of the 2001 crisis had called back as finance minister the notorious pro-banker, Trilateral Commission member and Rockefeller/Soros/Rhodes protge Domingo Cavallo.
Cavallo was the gruesome architect of Argentinas political and economic capitulation to the US and UK when he was President Carlos Menems foreign minister and economy minister in the 90s.
Menem and Cavallo are primarily responsible for Argentinas signing of a formal Treaty of Capitulation with the UK/US [COLOR=#CC0000 !important]after the[/COLOR] 1982 Falklands War, opening up our economy to unrestricted privatization, deregulation and grossly excessive US Dollar-indebtedness, almost tripling our sovereign debt in a few short [COLOR=#CC0000 !important]years[/COLOR] (see my February 11, 2012 article British Laughter in the Falklands).
The Plan? Prepare Argentina for planned weakening, bankster take-over and collapse, so that a new weakening-takeover-collapse cycle could begin. In 2001, Cavallo was back to finish his work
During that very hot [COLOR=#CC0000 !important]summer[/COLOR] in December 2001, true to its Latin temperament, Argentina even had four (yes, 4!) presidents in just one week. One of them, Adolfo Rodriguez Sa, who only lasted three days, at least did one thing right, even if he did it the wrong way: he declared Argentinas default on its sovereign debt.
All hell broke loose! The international bankers and IMF did everything they could to break Argentinas back; global media pundits predicted all kinds of impending catastrophes. Debt default meant Argentina would have to weather the pain and agony alone, being cast out by the international [COLOR=#CC0000 !important]financial[/COLOR] community.
Youre not the boss of me!
But no matter how bad it got, it would always be better to do that without the bankers, without the IMFs, European Central Banks, US Feds and US Treasurys help. Better to sort out your mess on your own, than to have parasitic banker vultures carving out their pound of flesh from your nations decaying social and economic body.
And how bad did it get in 2002? A 40 per cent drop in GDP; 30 per cent unemployment; 50 per cent of the population fell below the poverty line; dramatic, almost overnight, devaluation against the US Dollar from 1 peso per dollar to 4 pesos per dollar (then it tapered down to 3 pesos per dollar); if you had a US dollar Bank account, the government forced you to [COLOR=#CC0000 !important]change[/COLOR] it into pesos at the [COLOR=#CC0000 !important]rate[/COLOR] of 1.40 pesos per dollar.
What did Argentinas government do wrong? In the months leading to collapse it bowed to all the bankers and IMF-mandated measures and recipes, which were actually the very cause of collapse: Argentina was loaned far more than it could pay back. And the banker knew it! This was described in our December 19, 2011 article, Argentina: Tango Lessons.
Successive governments since then have continued to be functional to banker interests by [COLOR=#CC0000 !important]rolling[/COLOR] over debt 30 to 40 years, aggregating huge interest and in 2006 paying the full debt to the IMF almost US$10 billion in full, cash and in US dollars (sole entity given most-favoured creditor status).
Same vultures circling Greece
Today, Greece is confronted with a similarly tough decision. Either it keeps its sovereignty, or it capitulates to the Vulture Troika the European Central Bank, European Commission and International Monetary Fund who work for the Bankers, not the People.
Not surprisingly, today we find that Greece too has a Trilateral Commission Rockefeller/Rothschild man at the helm: Lucas Papademos who is doing the same things Argentina did in 2001/2.
Argentina not only suffered Cavallo, but President De la Ra himself was co-founder of the local Global Power Masters lobby, CARI Argentine International Relations Council local branch of the New York-based Council on Foreign Relations, networking with the Trilateral Commission / Bilderberg mafia.
Greece today should do what Argentina did a decade ago: better to endure pain and hardship, and sort out the mess made by your politicians in connivance with international bankers on your own, wielding whatever shred of sovereignty you still have than allowing the Banker Vultures sitting in Frankfurt, New York and London decide your future.
Its the Neocolonial Private Power Domination Model, stupid!
Or do you think its just bad luck, bad judgment and coincidence that countries Greece, Argentina, Spain, Italy, Portugal, Brazil, Mexico, Iceland, Ireland, Russia, Malaysia, Ukraine, Indonesia, South Korea, Thailand, France, even the US and UK always borrow too much from the bankers and then discover that they cannot pay it back and that, symmetrically, the same bankers CitiCorp, HSBC, Deutsche, Commerz, BNP, Goldman Sachs, [COLOR=#CC0000 !important]Bank of America[/COLOR], JPMorganChase, BBVA lend too much to countries and then discover they cannot collect?
No! That is the very yellow-brick road that leads to the Emerald City of debt restructuring, debt refinancing, and sovereign debt bond mega-swaps that snowball sovereign debt, spreading it over 20, 40 or more years into the future. That guarantees unimaginably colossal interest profits for the Mega-Bankers and for all those nice politicians, media players, traders and brokers, without whom that would not be possible.
This is a Model. It must keep rolling and rolling and rolling As this Monster Machine steams forwards, it completely tramples on, overruns, destroys, flattens and obliterates people, [COLOR=#CC0000 !important]jobs[/COLOR], workers, health services, pensions, education, national security and just about everything human on its path. Run by parasitic usurer technocrats, it does not care what it destroys because it has no ethics; no [COLOR=#CC0000 !important]Christian[/COLOR], Muslim or Buddhist morals. It only worships a greedy golden idol of money, money and more money. This is 21st-century Money Power Slavery.
Three generations of Argentines saw hopes dashed and dreams thwarted by this Monster Machine, suffering the hardship, woes and humiliations that come when countries give up sovereignty.
Bring back the drach!
So, Greece: Just default on your sovereign debt! Just revert to the drachma! Just say No, thanks! to the German bankers and the Troika Vultures.
Please, Greece: just say No! to your Trilateral Commission president!
You will be [COLOR=#CC0000 !important]setting[/COLOR] a strong precedent for your European neighbours. Like Spain, which is hurting so badly right now for similar reasons. Like Italy, with its Trilateral Commission Prime Minister Mario Monti (also Trilaterals European Chairman!).
Greece, the Cradle of Democracy, can teach the world a lesson in True Democracy by kicking these parasites out of the country, which will hopefully trigger kicking them out of Europe and one day, kicking them out of the global economy.
Because what Greece and Argentina and Italy and Spain suffer today is not True Democracy, but rather a distorted ******* imitation that systematically yields control to the Global Power Masters at the Trilateral Commission, Bilderberg and Mega-Banking Overworld. They run the whole democracy show, whereby all countries end up having the best democracy that money can buy which is no democracy at all
The Money Power juggernaut is steaming full speed towards us all. If Greece falls, wholl be next? Spain? Italy? Portugal? Argentina (yet again!!!)?
So what if Greeces reverting to the drachma marks the beginning of the end for the euro? Let Italy revert to the lira, Spain to the peseta, Portugal to the escudo! A National Currency is a key National Sovereignty factor.
All governments should understand that you either govern for the people and against the bankers; or you govern for the bankers and against the people.
Adrian Salbuchi for RT
Adrian Salbuchi is a political analyst, author, speaker and radio/TV commentator in Argentina. www.asalbuchi.com.ar
Disclaimer: The views and opinions expressed in the story are solely those of the author and do not necessarily represent those of RT.
[/COLOR]
@CanPak2 @cefspan
Did u guys read my article http://tinyurl.com/pakgoldstandard ? I said the same thing about Pakistan! Defaulting is the most reasonable solution. Look! ICELAND did it! Its already been upgraded by Fitch! And like u said Argentina, Mexico and as recently as 98, Russia did it. Look at Russia today. Its much stronger, its got a real economy.
Did u guys read my article http://tinyurl.com/pakgoldstandard ? I said the same thing about Pakistan! Defaulting is the most reasonable solution. Look! ICELAND did it! Its already been upgraded by Fitch! And like u said Argentina, Mexico and as recently as 98, Russia did it. Look at Russia today. Its much stronger, its got a real economy.
Bangash
Chief Minister (5k+ posts)
وقتی طور پر آپکی بات درست ہے لیکن وہ لوگ بھی وقتی حل پیش کررہے ہیں- حقیت میں الله کا قانون سب سے بہتر ہے جبکہ وہ ان لوگوں کو منظور نہیں - اس لئے جب تک عوام نہیں سمجھتی ان مسائل کو یہ چلتا رہے گا- جب عوام کا جینا عذاب ہوجائے تو پھر کوئی تبدیلی سامنے آسکتی ہے- اپ کچھ نہیں کرسکتے کیونکہ یہ مثلا عام لوگوں کی سمجھ سے باہر ہے اس لئے وقت کا کھیل ہے جتنا زیادہ ہوسکے اس کو تول دیتے جاؤ اور چلتا رہے گا ملّا نصیرالدین کی حل کی طرح - جو سسٹم ہے وہ چلتا رہیگا جب تک سارے ایک ساتھ نہیں اٹھتے اس کے خلاف. اس کو کہتے ہیں پیرامیڈ جتنا بڑانہ چاہو بنا سکتے ہو لیکن اوپر جانے کے لئے پھلنا ضروری ہے اور آج کل ساری دنیا میں یہی سسٹم چل رہا ہے- ساری دنیا میں فرعونی نظام ہے اکانومی کا
itsnotme90
Minister (2k+ posts)
Americans banks are preparing themself for a collapse of european banks which has exposure to greece.
