Banksterocracy

The Champagne region was proclaimed a world heritage site by UNESCO today. Champagne, a method to make sparkling wine, was created by a cleric, Dom Perignon, four centuries ago.

Mr. Yannis Varoufakis, Greek finance minister: “Why did they force us to close the banks? To instil fear in people. And spreading fear is called terrorism.” Indeed. That is what I was saying before: arguably the demons of High Finance, the shills of the IMF, Goldman-Sachs, the ECB, etc, are the main force deep behind Islamist Terrorism, because they cause misery, while weakening enormously the military capabilities.

Added Varoufakis:”The EU will have no legal grounds to throw Greece out of the euro, and then the real negotiation will start with creditors.”

Unbelievably, the European Central Bank has put the entire Greek economy in a deep freeze, with a very low ceiling on the Emergency Loan Agreement (ELA). What for exactly? With which authority? Just because its (ex) Goldman-Sachs head, Draghi, is used to make a profession from dragging people in misery?

Bait & Switch, Or How The Public Was Made To Pay For Being Ruled By Banksters

Bait & Switch, Or How The Public Was Made To Pay For Being Ruled By Banksters

Look at these numbers above: how come France, Germany, Italy, etc. invested in Greece? Of course they did not. What they did is that they “lent” Greece money so that the Greek plutocrats then in command of Greece could refloat the French, German, etc. bank subsidiaries which had gone bankrupt lending to fellow plutocrats they had met earlier, taking champagne baths, all together. Now we are supposed to drain the bath, and serve them more champagne.

Meanwhile, Christine Lagarde, the Marie-Antoinette who proposed that, because gasoline was to expensive for them, the French ought to switch to biking, hangs tough about “Greece”. A buffoon shilling for plutocracy with a misleading French accent. Just look at her shifty eyes: she knows how dirty she is.

As Oxford economy professor Simon Wren-Lewis puts it, the IMF was “captured” by the banksters: “the Troika made a huge mistake in using their citizens’ money to lend to Greece so Greece could partially repay these private sector creditors – that is where most of the Troika’s rescue package went.”

(Yes, apparently, 92% went to banksters; but thanks to propaganda, most people believe We The People of Greece splurged, whereas, it is the banksters who splurged).

The first order of plutocracy, nowadays is banksterocracy: bankster-power. Let me quote extensively from Atrios, a USA citizen originally from Australia, with a PhD in economics. Atrios writes a wildly successful blog, taken seriously by major economists. Quoting others extensively, Atrios comes below to the conclusion I reached more than six years ago, about the nature of who rule us, and this is most pleasing:

“Saturday July 4, 2015: What’s It All About Then

Greece’s Euro “membership” isn’t about using the currency, it’s about having access to various loan facilities and support from the ECB, which it already doesn’t have.

Bloomberg reports that Bulgaria, which is not a Euro member but backs its currency with Euro reserves, has just been allowed to borrow from the ECB at the same rate as Euro members, thus enabling it to firewall its banks from Greek contagion. This is a privilege normally only accorded to Euro members – and it has been WITHDRAWN from Greece. If this is true, then Bulgaria (non-Euro member) can obtain Euros from the ECB while Greece (Euro member) cannot. It is hard to see what benefit Greece’s Euro membership confers, apart from redistribution of seigniorage receipts.

And finally someone gets the logical endpoint of central bank “independence.”

For the central bank of a currency union to deliberately restrict the money supply in regions within the currency union is bizarre. No other currency union central bank on earth does this. It would, for example, be unthinkable for the Bank of England to deny liquidity to Scotland’s banks. But the ECB has denied liquidity to Greece’s banks, not because they are insolvent (which is a reasonable reason to deny liquidity to banks) but because the sovereign won’t toe the fiscal line. It has taken on a political role that it should not have.

Of course, the ECB’s shareholders are the member state governments. But those governments have bound themselves by laws and treaties that prevent them interfering with or in any way controlling the ECB. So the Eurozone is in reality a financial dictatorship run by bankers. I struggle to see why anyone would voluntarily join it, let alone want to stay in it. But that’s democracy for you.

Whatever it is, it ain’t democracy. It’s banksterocracy. The concept of central bank independence was, once upon a time, thought to be necessary to prevent irresponsible governments from doing, or being perceived as doing, irresponsible things with the money supply. Now the point of central bank independence is to hand immense power to a bunch of unelected unaccountable people engaged in revolving door careers with the banking system. Let’s continue laughing at the silly Greeks and their silly corruption.  

The first irresponsible thing to do with the money supply is not to provide enough money to run the economy. This was a major problem during the Roman empire’s Fourth Century (due to a dearth of precious metals and not enough police powers to insure the value of the Fiat Currency). By 300 CE, the imperial government instated a massive command and control system to insure the core functions of the economy.

The problem we have now is different: so-called austerity is actually a refusal to finance important sectors of the economy, including not just basic decency, but also science and education. Meanwhile China has boosted its science budget to a nearly incomprehensible 192 billion dollars (more than all the West combined).

China is right. 100%. (Then the land of Confucius gets accused of “ethical breaches”, by professional bleaters, for pulling ahead on genomic research)

On the other hand, those who have starved, and are starving the European economy, from sheer lack of currency, are not just betraying their birthplace, but civilization itself.

Patrice Ayme’

 

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19 Responses to “Banksterocracy”

  1. Chris Snuggs Says:

    Agreed. Greece is not blameless, but the EU elite are criminals. I hope to God they vote “No”.

    • Patrice Ayme Says:

      We agree! :-)! “Greece” itself is divided in two parts: the plutocrats, and We The People. The former is guilty as heel, the second rather innocent. The connection between both is from politicians like Papandreou, supposedly a “socialist’, but actually from one of the top three plutocratic families in Greece, and son of his father in matter of wealth, naturlich…

  2. Tacitus Voltaire Says:

    they are working on the problem of how to privatise breathing oxygen

    • Patrice Ayme Says:

      In France, they have already privatized water! Resulting in the world’s largest water companies… And also very expensive water (by contrast, water used to be basically, or fully, free in California, up to recent times)

  3. Chris Snuggs Says:

    The odious Martin Schulz is openly calling for the overthrow of the legitimate govt of Greece. This is the second time the EU mafia has tried this trick. Only a traitor could vote “Yes”.

  4. EugenR Says:

    The “Greek problem”, is just a symptom of a much larger system problem common in Europe and US. I would call this problem, “The limits of democracy to solve long term problems”.
    We come in contact on daily basis with the problems created by political decisions made 20,30, 40 and even 50 years.
    Some examples,
    – Destruction of world environment, that people became aware of already at 1930 after the catastrophe in the Meuse Valley, Belgium .
    https://en.wikipedia.org/wiki/1930_Meuse_Valley_fog

    -The French and latter whole European immigration policy of sixties.
    – The welfare state, that disconnected the European population from the natural realities of hardship.
    – Running economies on debt, what means in practical terms, that when the economy will stop to grow, the mutual guaranty economic system of obligations to the less capable, like old people or one parent families with children will have to be decreased or abolished.
    – Creating an education system, where parents and the children have all the rights, while nothing is left for teachers.
    – Under the flag of plurality and democracy, letting to certain social groups to establish communities, that clearly oppose the humanistic values that prevail in Europe since WWII.

    In Greece the symptom, of not to take responsibility for its acts, reached a national level. In other countries still the problem is only on individual level and sometime of certain social groups. But there is no political force to stop this trend of adopting stand point of “After me let the floods come”. How could it be otherwise, if the politicians themselves act according to this slogan?

    • Patrice Ayme Says:

      Agreed to all. But banksterocracy wants it that way. Banksters don’t want people to vote smart and long term. Consider Suisse, Schweitz, Switzerland: it is increasingly voting in referenda, and its policies are judicious. It also successfully accepted a giant immigration flow in recent years, comparable in percentage to Canada or the USA (both of which have 20 million square kilometers in totto…)

      We ought to reduce considerably the role of professional politicians.

  5. EugenR Says:

    I didn’t know to be a politician is a profession.:)

    • Patrice Ayme Says:

      It should NOT be, but it, clearly, is. Term limits is one way to fight that, but not the best. The best is for people to vote all the time on the issues, as in Switzerland.

  6. Patrice Ayme Says:

    [Sent to Oxford Economy Blog.]

    That France caused Hitler is an anti-French myth. Prussian imperial forces proceeded under orders, to destroy most of the economy in North-East France. Dynamiting factories, castles, flooding mines, even destroying all telephone poles.

    The French government, naturally enough, asked the German government to repair some of the damage. However, it, and its central bank preferred to make its currency worthless. Then the French asked at least to send over telephone poles, to replace the ones they destroyed, but were told there were not enough trees in Germany, and so on.

    Keynes and its ilk, supported racist prejudice in Germany at the time, with an anti-Polish, and anti-French campaign. That helped bring Nazism to power. As did the opinion that Germany was not responsible for its own destructions.

  7. Patrice Ayme Says:

    [Sent to:
    http://mainlymacro.blogspot.com/2015/07/greece-and-political-capture-of-imf.html%5D

    “Remember the Troika made a huge mistake in using their citizens’ money to lend to Greece so Greece could partially repay these private sector creditors – that is where most of the Troika’s rescue package went. The IMF’s own internal analysis was deeply flawed…

    The IMF should have been very worried about motivations here. After all, many of these creditors were banks from European countries, so the motivations of those bailing out these creditors were conflicted to say the least.”

    It maybe good to put it in one word, and introduce the concept of the banksterocracy we live under.
    https://patriceayme.wordpress.com/2015/07/04/banksterocracy

  8. John Rogers Says:

    Patrice

    Just read a blog post from someone following the Spanish press. Seems it and the Spanish right wing are slavering over the possibility of a “yes” vote taking down Syriza and therefore (according to them) forecasting doom for Podemos. So, yeah, your analysis of the real interests of the plutocracy and its bankers is dead on.

    • Patrice Ayme Says:

      I don’t think a “YES” brings Syriza down, because Tsipras will point out nearly as many people voted “NO” (if the polls are right. IF.)

      But a NO reinforces enormously all those against the present system, banksterocracy. Such as Podemos. And it’s not just the real left. The populist right too (by opposition to the PLUTOCRATIC right). In France, Marine Le Pen is the only politician attacking the banks in the Greek story (I saw her avoiding attacks against the Euro itself, as I expected her to…) Aside from Melanchon, and the “Front de Gauche”.

  9. Chris Snuggs Says:

    Soon everywhere will be a “World Heritage Site”. When will this dumbing down stop?

    • Patrice Ayme Says:

      I still think there are fewer than 1,000 of them. In the USA, you could have only very few (a few cliffs with dwellings?) The advantage is that it protects fragile sites. For example my Alpine redoubt is full of churches, chapels, castles and fortifications, and it costs a fortune to keep dozens of them in good stead. My local church, a mini cathedral, is astounding, it’s 1,000 years old, and a very early Gothic, sort of. A chapel in the woods, under repair for a decade by volunteers, is 15 centuries old. Being a world heritage site allows to bring financing in.

      Certainly, when one sees the amazing state of disrepair, and lack of protection, in the city of Rome, it’s something to think about. The Champagne area seems to be a good target for real estate development, with its wonderful sun drenched hillsides.

    • Patrice Ayme Says:

      Two crucial sites, one in China, one in Korea, protected. A total of 41 protected sites in France now.

  10. Kevin Berger Says:

    http://www.nakedcapitalism.com/2015/07/bill-black-libor-historys-largest-financial-crime-that-the-wsj-and-nyt-would-like-you-to-forget.html

    • Patrice Ayme Says:

      I disagree that it the greatest financial crime: the entire fractional reserve system qualifies at a much higher level of excellency. But it’s certainly the largest financial conspiracy ever deliberately engaged in, in which the participants knew that they committed a crime.

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