Monday, July 6, 2015
The Greeks did it again. They told the Oligarchs of the IMF, the European Bank (or whatever it's called), and the various other white-collar criminal frauds involved to stick it where the sun doesn't shine. Kudos! It's hardly a surprise--- what country would want to be forced into raising taxes, cutting pensions, and selling off their public infrastructure (to mega corporations) during a time of economic disaster? I can't imagine that any government would want to do those things.
The Corporate Media here reported that Greece may be forced to issue currency that amounts to IOUs; the implication was that such action is foolish, almost unheard of, and would be disastrous. Are you kidding me? The Fed Gov't here in the USA does that every single day. The USA, thanks to the Fed Reserve, is the largest Debtor Nation in the world. Every single dollar in our wallets is a debt instrument, an IOU. Our Govt's debt is so large that the principal will never, ever be re-paid... that is to say, the foreign debt portion of it. All our foreign creditors know that. They are happy to get just the interest... in perpetuity. In our system, that's what personal income taxes are for... Gov't services are financed by other means of revenue, such as excise taxes, fees, impounds, duties, asset forfeiture, corporate taxes, and most importantly, more borrowing.
Every developed country that I know of utilizes a fiat monetary system. The whole thing is a farce in terms of genuine money, but it's the system the world apparently has settled upon. It depends on good will... nothing else. I imagine that Greece has just as much good will as most other countries. Critics might say that defaulting on a debt does not show good will. I would respond: that depends on how the debt is structured, the conditions of acquiring it, and whether or not the creditors involved have good will. History shows that the IMF, for example, plays a Rigged Game... for the benefit of bankers and other mega corporations. As far as I can see, no government should ever get involved with the IMF. Ask South American countries about that... see what they have to say.
The Corporate Media here also imply that Greece leaving the European Union (or Euro-Zone, or whatever the Oligarchs are calling it now) would be an unmitigated disaster for the country. Corporatists and their Media puppets love to promulgate the idea that life without economic zones, without the WTO, and without the Corporatist version of Globalization is virtually impossible. What a crock of horse crap. In my 72 years, I've never seen more blatant, Edward Bernays style propaganda. It's completely disgusting, untrue, and designed to benefit the Corporatist Oligarchy and their sycophants.
The whole idea of Corporatist Globalization, the IMF, the World Bank, and mega banks in general is nothing but a scam and a fraud visited upon the "little people" (which is exactly what Oligarchs refer to the rest of us as). Most of the common people of the world are awakening to that fact... despite the fact that the Corporate Media are unrelenting in their oligarchical, Bernays style, Corporatist, anti-democratic propaganda.
Don't believe any of it, Greece. You can make it. Most of the world loves you. Cowboy up, and continue on.
Not just my opinion. Be Well