Debt Rattle July 14 2015
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[See the full post at: Debt Rattle July 14 2015]In case you guys haven’t figured this out – Japan won WW II. Really.
Not in 1946- around about 1966, when Toyotas started to destroy Detroit. And oh yes, we know for a fact that Japanese CEOs thought in exactly that way; and still do.
Europe? Financial weapons have always been more effective and more certain than swords; of whatever kind.
Pray for Greece. People do eventually revolt. That is also historical fact. The results are always horrific.
The really good news!! https://in.reuters.com/article/2015/07/14/jpmorgan-results-idINKCN0PO18Q20150714
Read the fine print. Hidden in plain sight in this article: “Net income attributable to the bank’s common shareholders rose to ..”
Translation- which you need to learn how to do- “We aren’t telling you anything about “gross” income, which we can do very interesting bookkeeping on; nor about income “attributable” to – all the non-common shareholders; i.e., us big boys. None of your business, and you can bet grandma’s teeth we make way more than the commoners.”
“very interesting bookkeeping ” translation translation – highly immoral and sufficiently illegal that we hide what’s really going on.
Today Tsipras says he was made a deal to avoid bank collapse, that it was revenge on the part of the TROIKA and that he doesn’t believe in it, but he will try to implement it anyway because it is the only way to stay in the EURO
What is he doing? Is he sabotaging the deal? Does he want the Greek parliament to fail to pass it but not take personal responsibility for the post-Grexit TROIKA fury?
(This last question is my best guess)https://www.bbc.co.uk/news/world-europe-33530201
I bet all those voting Greek MPs are getting rabid phone calls from all parties threatening everything under the sun.
I have had a hypothesis germinating for awhile, based on the premise that the global power elites, like the Bush family, Rockefellers, Rothschilds, royal families, etc. are smart, not stupid, and don’t tell the truth, except in the rare case that it serves their purposes.
I think they are perfectly well informed and accepting of the realities of Peak Oil, The Limits to Growth and Global Warming. They and their trusted retainers, the Dick Cheneys, James Bakers and Joe Bidens we know so well, tell us whatever guides us in the direction they need us to go. They tell the gated community group, which serve them, what the gated community group needs to be told to keep serving. There are different messages involved, and it works rather well.
We are still on the “Business as usual” curve from the 1972 Limits to Growth projections of energy use, pollution, economy and population. This is producing, or has just produced the predicted peak in industrial output, food production and economy. We are at a rising level of human population.
What comes next in that projection is collapses in food per capita, economy and energy per capita, industrial production, and later, population.
My hypothesis is that our shadowy-puppet-masters are practicing the sequential controlled-demolition of human societies as their preferred method to deal with peak oil and global warming. They tell us whatever stupid-shit works.
Yeah, that’s why we hear nothing but stupid stuff about Greece, and the European group of economic ministers would absolutely never discuss economics with Varoufakis. It’s not their intent for Greece to recover and pay back the loans. It’s their intent for Greece to progressively collapse, further and further, as they take notes.
Iraq was blown up to save Iraqi oil from the Iraqis. That’s working. Libya was blown up to save Libyan oil from the Libyans. They’re hardly using any these days. Those countries are sitting on some of the last of the “easy oil” in the world, the stuff you just pump out for $5-7/bbl. Iran has easy oil, too. But Iran isn’t easy. Iran has an ancient and sophisticated civilization and is politically adept. Iran could still get nuked, but Iranian oil has just been put on hold for the past 5 years, which saves it for later.
Maybe there is about to be another big war, which will mess with the output of some oil producing country. I sure don’t know. Oil is otherwise about to get really cheap, which will hurt Russia, Venezuela, Brazil, the Saudis, Canada, Mexico, American fracking and North Sea powers.
Venezuela is the most vulnerable. Maybe they hate freedom and are going to attack a nuclear generator near LA this year. Maybe they are secretly allied with North Korea. Something. Whatever. Teach em a lesson!John Day:
“My hypothesis is that our shadowy-puppet-masters are practicing the sequential controlled-demolition of human societies as their preferred method to deal with peak oil and global warming.”Wrong, and wrong. The people running the show aren’t losing a wink of sleep over oil, and they -own- the global warming fraud.
Dig deeper. They want the planet for themselves. You don’t have to immediately accept that, but you owe it to yourself to understand what’s being said, and why it’s being said:
https://winteractionables.com/?p=22850
For now, keep it all in the back of your mind. There is no shortage of hard evidence for all of this. And by the way, don’t miss the David Knight (Infowars) video in the comments below that last link. We all have gaps in our understanding. I hope this eventually helps.
Pete Dolack says:
“Perhaps the signal that was not given due consideration was Prime Minister Alexis Tsipras’ statement on July 10 that “we have no mandate to leave the euro.” The Syriza-led government also had no mandate for the continuation, much less the intensification, of austerity. […] Yes, Syriza was elected with a mandate to negotiate; that follows from Greek majority popular opinion that the country should remain within the eurozone. But there was also a mandate that austerity be brought to an end. Syriza proved unable to resolve this contradiction: Greece can end austerity or be in the eurozone, but not both at the same time.”
Yes, I can’t understand this “we weren’t given a mandate to leave the Euro”. Why wasn’t this question asked on the referendum? It could have easily been. Perhaps they didn’t want the answer they would have gotten?
And John Pilger says in “The Problem of Greece is Not Only a Tragedy: It is a Lie”:
“Instead of social justice for Greece, they achieved a new indebtedness, a deeper impoverishment that would merely replace a systemic rottenness based on the theft of tax revenue by the Greek super-wealthy – in accordance with European “neo-liberal” values — and cheap, highly profitable loans from those now seeking Greece’s scalp. […]
The day after the January election a truly democratic and, yes, radical government would have stopped every euro leaving the country, repudiated the “illegal and odious” debt – as Argentina did successfully — and expedited a plan to leave the crippling Eurozone. But there was no plan. There was only a willingness to be “at the table” seeking “better terms”. […]
The leaders of Syriza are revolutionaries of a kind – but their revolution is the perverse, familiar appropriation of social democratic and parliamentary movements by liberals groomed to comply with neo-liberal drivel and a social engineering whose authentic face is that of Wolfgang Schauble, Germany’s finance minister, an imperial thug. Like the Labour Party in Britain and its equivalents among former social democratic parties such as the Labor Party in Australia, still describing themselves as “liberal” or even “left”, Syriza is the product of an affluent, highly privileged, educated middle class, “schooled in postmodernism”, as Alex Lantier wrote. […]
Syriza’s luminaries are well-groomed; they lead not the resistance that ordinary people crave, as the Greek electorate has so bravely demonstrated, but “better terms” of a venal status quo that corrals and punishes the poor. When merged with “identity politics” and its insidious distractions, the consequence is not resistance, but subservience. “Mainstream” political life in Britain exemplifies this.
This is not inevitable, a done deal, if we wake up from the long, postmodern coma and reject the myths and deceptions of those who claim to represent us, and fight.”
Another side to the story. We shall see what happens.
There is a third option open to the Greek Parliament beside either accepting or rejecting Troika dictate, something that will probably give the Greek nation a better chance altogether, that of repudiating all debt former governments entered into which provided no benefit to the Greek Nation. What is the Troika going to do? They have strangled the banks with their abuse of power (nationalising the banks at this point removes banks as troika tools), they have brought the economy to the point of collapse in the attempt to politically dictate to a sovereign nation what it will and won’t do, the troika has blatantly in the light of day demanded possession of Greek wealth and income streams as well as lands. Repudiation sets off all the financial deceptions into collect mode (which the Troika also cannot control); this finely connived house of cards is irreparably damaged beyond the Troika’s ability to contain. It would be interesting to see just how deep the Troika’s economic knowledge actually is – my money is on quite shallow. The greatest benefit to Greece is that it opens the door to others with even more massive debts to take in alleviating their imposed austerity, a power card that trumps Troika.
At the same time take the Troika to the international courts to find what law they have operated upon to attack the Greek Nation as they have done; demanding immediate relief and restitution from those institutions abusing their positions for enough funds to restore circulation of the euro and the conduct of business, that restriction upon funds to avert economic panic is unsupported by any law and contrary to economic practice.
The end of the European Monetary Union is neigh, and the European Union, if it is lucky enough to survive, will be changed one way or another forever. Interesting times, indeed.
Diogenes Shrugged,
“A ‘mini ice age’ is coming in the next 15 years
Solar activity is predicted to drop by 60 percent in 2030.”
https://www.sciencealert.com/a-mini-ice-age-is-coming-in-the-next-15-yearsIt means a tiny percentage drop in the energy coming to the Earth from the Sun. However, this “tiny” drop is huge in absolute terms – say 30 times all the human activity on Earth.
When I talk about things Karl Denninger says, I just describe him to my children as the “wild man”. But I believe in this case he’s right. He quotes Schaeuble: “Debt relief is impossible.” Karl’s response:
“Then a sustainable outcome is impossible.
Therefore, Greece must burn the entirety of the so-called Troika’s bonds on the steps of the Parliament building tomorrow morning.
All of them.
There is no rational analysis that leads to decreasing debt over time without doing this. A further bailout program under the ESM will immediately ratchet upward the debt:GDP ratio by another 25 percent, which puts the target further away rather than closer.
Such a program is thus an abject fraud and anyone who signs it on either side of the table deserves to be indicted, tried and hung.”
https://market-ticker.org/akcs-www?post=230349
And another post:
“I remind everyone that there is no possible way that lending the Greeks another €100 billion, which is now what the estimates are up to, will ever lead to the ability to pay any of that off. As a result depositing one nickel outside of the nation means they have given it away — period, full stop.
Tsipras and the Greek Government cannot accede to these demands. If they do the people of the nation have every right to consider the government illegitimate and beyond salvation, doing whatever becomes necessary next (and it won’t be pretty.)
It’s quite clear that from 2010 forward, with the first bailout, there was never any ability to clear the books and return to a reasonably-stable situation economically in this country through taking on those loans. It’s also quite clear that all the way back to Greece’s entry into the Euro there was active complicity and involvement in outright fraudulent accounting undertaken by and with many international banks — and then the banks that “bought” that debt agitated in the first bailout for transfer of the paper to the central bank and thus onto the backs of the EU’s citizens, a second fraudulent act since there was no way for it to be paid off in full and thus that transfer was the fruit of a poison tree.
The people involved in this need to be indicted and the banks involved in this must have their charters revoked and be shuttered irrevocably with their officers and directors spending the rest of their life worrying about dropping soap in the shower. […]
We can either face arithmetic or it will “face” us — in the face, that is.”
https://market-ticker.org/akcs-www?post=230353
He doesn’t mince words, but he’s right.
There may be other factors in play with the now-open “German” approach (meaning the oligarchs that direct their system, not their otherwise good people). Rumor has it the black hole of debt –a mathematical fact of the system–has gotten so large it’s going to collapse. In short, if Germany, DeutscheBank, and some of the other massive financial players–banks, corporations, and billionaires alike–don’t get some collateral RIGHT NOW, the illusion of solvency and normalcy will pop and the whole system goes down. That’s why they no longer care about Greece, appearances, Europe, the survival of the EU project, or anything else. They need new collateral to monetize the size of a whole nation, and if that nation is Greece, so be it.
Actually, it would be a surprise if this WASN’T the case, since systems that rise as a percentage, like debt at 3-5% go “exponential” at some point. So what if they get Greece, what then? Won’t they have to find a country twice that size to collateralize and devour next year? Then one four times the size the year after that? This changes nothing because regardless of what they do, an exponential system cannot survive in a finite world. No repression, no military action, no level of fascism, violence or destruction can alter it now. The numbers are just too big. They’re talking about killing thousands of Greeks and the whole Euro system just to push the timeline out a month or two.
No help anywhere else, either. The U.S. just released retail numbers solidly in recession territory. Wikileaks released a inter-diplomatic memo saying France “is worse than you can imagine.” Germany is astonishingly in debt if you multiply down through the city levels. China may have jacked up their market to crash it and capsize the fragile western boat. –And those are the good countries. Spain just passed anti-citizen laws so bad it’s like 1930 all over again. https://www.armstrongeconomics.com/archives/34287 Portugal and Italy are generally considered as about to collapse. Belgium and the Netherlands aren’t in such great shape. Austria just lost a major bank.
There is someone who still has assets to collateralize, and who are not much in debt: Russia and allies like Iran and Cuba, two of which may have just been collateralized. In any case, with a runaway compounding of interest, you can see the intense urgency which helps explain the otherwise inexplicable behavior of Germany and Greece.
Thanks Diogenes Shrugged,
I watched both videos.
The questions around the Maunder minimum, compared to greenhouse gasses, are questions of magnitude of offsetting effects. There is a lot of attention to solar cycles. Everybody is interested in solar cycles. NASA and the DoD sure are. I am. My HAM radio buds are. The earth has all these buffers for little ups and downs, but the buffers are dissipating. Acid rain hitting the Himalayas and taking CO2 and calcium to a sink in the Indian Ocean has a long term cooling effect on our planet, ever since India slammed into Asia. It’s been awhile. It looks like the greenhouse gas effects are much longer lived than the Maunder minimum, and climate scientists, who look at both, don’t seem to think we should expect much of a break. It would be nice, of course. We shall see. I’m doing what I can as a person. Bike commuting and growing a kitchen garden in what used to be a back yard. It’s a lot of work, and there is lots to learn. Later gardens will be bigger. This is 30 X 30 ft, the whole fenced yard. I’m realizing how small that is for production.
As to the link regarding what Hitler said about bankers and capitalists, I agree with those statements of his, to a harshly oppressed people, who were going through the wealth extraction that Greeks are experiencing today. My grandfather was a communications officer in WW-1, a radio man, and flew in the back of a Spad, in the Hat in the Ring Squadron. He attended the Sorbonne, Harvard grad school, and traved as a radio operator around the world on cargo ships. In WW-2 he was a Major in OSS Counterintelligence, the deep spook world. I grew up aware from his teaching. I have known about “international bankers” all my life. I’m 57. The relevant question about our shadowy puppet masters is: “How many of us do they figure they need, and how much stuff do they figure we will need to serve them?” The “good” news is that these elites have to negotiate and contend with each other, as well as us pawns.
There is spirit at work, as well. Let’s meditate….
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