Debt Rattle April 3 2016
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Jack Delano “Untitled” 1940 • Trump Predicts A ‘Very Massive Recession’ (WaPo) • IMF Plots New “Credit Event” For Greece (Mason) • Greece Wants IMF Ex
[See the full post at: Debt Rattle April 3 2016]“Without an agreement on the measures, Athens cannot get the next tranche of loans from the euro zone bailout fund. It needs the money to pay back $4 billion to the IMF and the ECB in July. An agreement is also a crucial condition for any debt relief talks to start and a deal on debt relief”
Again and again here: the “bailout” is NOT a bailout; it is a loan. To a country that can’t repay the present loans, or they wouldn’t need a bailout. So they are taking further loans. From whom? The IMF and ECB ultimately. To repay $4B in immediate debt, to whom? The IMF and ECB, and their cadre of senior debtholders. So the IMF/ECB is creating minimum $4B to give to themselves and their buddies, who are senior debtholders. So they claim to want to add debt in order to remove debt? That’s absurd on its face. We can’t possibly read that and let it slide.
I’ve got an idea: if you’re going to do that anyway, why involve Greece at all? Create $4B, hand it to your friends, write off your books with new money put on your books, and leave Greece out of it.
If you or I got within 100 miles of what these respected institutions do, the IRS and SEC would have us in jail in hours. You cannot create loans to fund yourself, nor can you launder funds though a phony 3rd party to pay yourself. It’s transparent fraud of the highest order.
The quoted sentence is illogical on it’s face, it’s tantamount to saying, “Will I loan myself some money? Why yes, I think I’ll loan myself some money,” then print some (cash, bonds, stock certificates) on a laser printer in the basement. There’s a reason it’s illegal. It’s fraud, theft, and counterfeiting.
And in this case, collapses Greece, ruins the economy, kills the population, and hands the nation to murder and forced occupation by Turkey and Europe for generations. Don’t let this slide. Name it.
I agree, Dr. Diablo — Financial fraud has been driving the global economies, since the 80s. Poor Greece, they are being kicked off the back of the truck in 2 ways – bottleneck for the inhumanity of the EU, and sucker for the troika.
My heart goes out to them. How can the small street clinics deal with the impoverished Greek people, and the international NGOs are leaving in disgust the Concentration Camps being set up all over Greece.
Raul, how are the groups you wrote about doing? How are they surviving this EU travesty?
Hi Babble, I explained the false assumption you made in your attempt to pay back the $15,000 I created for society here:
Scroll to the bottom.
The short version is that businesses and labor don’t create money. If I, the Debt-Money Monopoly, creates $15,000 per your example and you buy a car to go to work, how did that car get made with no money to pay any of the workers? After all, if $15k existed and you had it all, nobody else had any money, by definition. Even if someone built a car with no money at their disposal, the only person who has any of that $15k is the person who sold you the car, so you would have to work for him to simply try and earn back what you paid for the car – $15k. But you owe the me $15,750, NOT $15k. I control the $750 as earned interest and it is in my back pocket, COMPLETELY UNAVAILABLE TO YOU, therefore, it is still impossible for you to pay back the $15,750 owed to me – even after you changed the parameters of the example.
Most people are completely blind to this mechanism – which is why it works so well. I really appreciate you taking the time to try and challenge the mechanism… your are less than probably five people out of over 50,000 that have ever even bothered to try. Most people who know the system is rigged still don’t comprehend this mechanism of fraud, therefore, they can’t see the real picture right before their eyes. Please continue to question if you still don’t see the prima facie fraud of debt-based money.
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