Posts Tagged ‘IMF’

IMF: NSA Trojan Horse?

July 1, 2015

It is known the German government spied France, and her state of the art industries, on the behalf of the NSA (even the New York Times mentions it in “Germany, Too, Is Accused Of Spying On Friends“, “Another Spying Scandal In Germany…”). Gregor Gysi, a prominent German from the opposition Left party, accused Ms. Merkel of “treason.”Is Merkel’s government betraying some more? Such as deliberately sabotaging the Euro?

I am not making all of this up out of thin air, in a sudden attack of crazed conspiracy fever. Please consult that other leftist institution, the Wall Street Journal:

http://www.wsj.com/articles/german-government-is-accused-of-spying-on-european-allies-for-nsa-1430437603

“What is the IMF doing in this Greek mess? Wonders Jacques Attali, Jul 1, 2015. My thesis is simple:

Sarko l'Americain & Merkel, NSA Spy, Offer IMF Trojan Horse To Greeks

Sarko l’Americain & Merkel, NSA Spy, Offer IMF Trojan Horse To Greeks

The National Security Agency American spy, Angela Merkel, and the USA obsessed Sarkozy (Sarkozy’s brother worked for the Carlyle Group, a shadowy organization specializing in satanic investment in military procurement at the time; heading the Carlyle Group is the sort of dream job Obama can only dream of, when he graduates from the drone dispatching center he heads in a White House)

Attali observes:

“The Greek situation, in all its dimensions, has become more grotesque with every passing day, and more specifically in the last year, by the very negative and preposterous role the International Monetary Fund plays in this.

An observer from Mars landing on Earth this week would ask in astonishment how Europeans had allowed three non-European economists working for an institution dominated by the US, we have no idea who appointed them, to decide the fate of the euro!?”

https://www.linkedin.com/pulse/what-imf-doing-greek-mess-jacques-attali

Jacques Attali is an important European, because of the judiciousness of his advice to many a European leader, and his heading various institutions and commissions (including one suggesting many reforms in France, few of which have been applied so far). Attali is also a classical symphonic conductor of international renown and practice. Attali was founding head of the European Investment Bank, a EU institution based in London, and close adviser to presidents Mitterrand, and Sarkozy.

Says Attali: …”the Eurogroup political leaders have allowed the IMF to creep in among the negotiators of all Greek debt… Attali notice that, whereas the Greek debt was strictly between Greece, the EU and the ECB, European leaders after a while decided they would not do anything without the IMF’s agreement.

Attali: “…when European experts came to realize that it was not by destroying the last resorts of Greek growth that their debt would be reduced, the so-called experts from the IMF, power crazy, continued to seek to impose suicidal savings on that country, without seeing that it will never be able to repay a debt that must be canceled urgently and in a formal way….

The only thing one would have hoped from the IMF, in this debacle, is that the Americans, on which it heavily depends upon, find a way to explain… the major geostrategic importance of Greek stability, and thus Greece continued participation in the eurozone. No, the Americans could not, or would not, do more than call the Greeks every day to ask them to surrender to the diktat of the IMF.

Attali thinks the IMF ought to be destroyed:

At a time when Asians are challenging the very existence of the Bretton Woods institutions, because they are not given their rightful place there, it is time for Europeans to question the sustainability of an institution that will be, if circumstances turn for the worse, really responsible for the tragedy that would follow a Greek default.

The solution, though, is simple, and the Europeans would have probably applied it a long time ago if the intellectual terrorism of the so-called IMF experts was not present: a reasonable savings plan, socially just, without requiring further assistance, but also with a reduction of the Greek debt to below 100% of GDP, through the cancellation of a significant part of public, bilateral and multilateral debts, that they all know cannot be reimbursed, and that some continue to claim, to save face. And for that, create urgently a genuinely European Monetary Fund, precursor of a Euro Treasury, and a Eurozone Ministry of Finance.”

All excellent observations, Jacques. The IMF is located less than half a mile from the White House. Christine Lagarde was already the head of one the world’s largest law firms, an American law firm, based in Chicago, long ago. She seems to be a professional figurehead, French looking, but actually simply an agent of the empire of the USA. Much of the European leadership seems to be in debt to the USA.

Consider the head of the European Central Bank: PhD MIT, vice-chairman at Goldman Sachs (as Mario Monti, an Italian PM). So what is the IMF doing inside the Eurozone governance? Making sure that individuals employed in and by Washington DC are in command. Of Europe: https://patriceayme.wordpress.com/2015/06/29/selection-of-the-dirtiest/# The empire of the USA does not have any interest in a strong and independent Europe: healthy is what it wishes, yet dependent is what it requires. Dependence means submission, a lower status, fewer riches, more work, less comfort, no control of one’s destiny. It’s about making sure structures, institutions, which favor and select for the power and wealth of the USA are in place.

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Europe Is Under Plutocratic Attack, Hence The Need For Union:

Some suggest that one cannot have a monetary union without a political union. That’s not correct. The Dollar is named after a currency, the “Thaler”, or “Tolar” (it has other names). The Tolar existed for centuries over much of Central Europe, without any political union. It was so famous that the currency of the USA is named after it.

So what is going on now? Why can’t the Eurozone survive without political union? The reason is simple: the USA’s establishment is hostile to the Euro (it’s trying its best, and succeeding, to hide its immense anger at the uppity Europeans, with their arrogant currency).

It looks like economics, but it’s all politics. Before Greece got in the European Union, Greece was controlled by colonels controlled by the USA. Many operators in the USA, those of the “Deep State”, the Wolvowitzs of the USA, would love to see Greece revert to full control of the USA. And that was probably the entire idea of putting the IMF inside the Eurozone.

Who asked for controlling Europe with the IMF? Germany, in 2010. At the same time, we learn that Germany acted like a spy on the French government, on behalf of the NSA (French and German governments are in very close, permanent contact).

So just like the NSA asked Germany to spy on France, did the NSA ask Germany to bring the IMF Trojan Horse inside Europe?

Americans have been programmed to say that “conspiracy theorists” are insane. Indeed. One has to be insane to expose the various conspiracies which insure USA dominance. USA plutocracy makes sure that it is dangerous, and not profitable.

https://patriceayme.wordpress.com/2013/06/07/plutophiles-grexit/

Europe has a social model that the owners of the USA, those who pay for American universities, find unbearable. That’s why they want to destroy it.

More prosaically and cautiously, Attali concludes that:

“Europeans, solve your problems among yourselves. Rely on your own forces alone. Do not give in to pressures or ways of thinking that came from across the Atlantic or the Pacific. Give yourself a project and take action. It really is about time you did.”

As the European elite has been put in place, or in power, or made rich, by American plutocracy, independence is not so easy to implement (Africa has long known this problem, the problem of the elite controlled by greater forces, a perfect illustration of which is Barack Obama himself).

Patrice Ayme’

Greek Crisis, Or Greed Crisis?

June 30, 2015

The Awesome Gratuitousness of the Greek Crisis” bemoans Paul Krugman. Really? Is not that a bit naïve? How does that fit with converting the Drachma at twice the rate, or Lagarde changing her music, after the Greeks had accepted her conditions? Does not it all look at a different plan of the “Deep State”? Like having just one boss, supposedly located in a White House?

http://krugman.blogs.nytimes.com/2015/06/29/the-awesome-gratuitousness-of-the-greek-crisis/

Indeed, my dear Paul Krugman, the exact chronology of events makes one rather believe that [IMF Director Lagarde] is following her usual pattern: doing what she’s told to do, and taking the heat, as Dominique Deux, an esteemed commenter on this site, puts it. Dominique’s profession involves him with this sort of people, he is in a good position to know.

So is it a case that: “There are horrible people who, instead of solving a problem, tangle it up and make it harder to solve for anyone who wants to deal with it. Whoever does not know how to hit the nail on the head should be asked not to hit it at all.”

[Friedrich Nietzsche The Wanderer and His Shadow, aphorism 326, 1880.]

Well, I don’t think so. The Drachma was deliberately converted at twice its rate. Everybody knew it at the time. That was clearly a time bomb.

***

Paul Krugman’s Analysis Of The Raw Data, I Agree With:

“I’ve been looking back at the numbers, readily available from the IMF, and what strikes me is how relatively mild Greek fiscal problems looked on the eve of crisis.

In 2007, Greece had public debt of slightly more than 100 percent of GDP — high, but not out of line with levels that many countries including, for example, the UK have carried for decades and even generations at a stretch. It had a budget deficit of about 7 percent of GDP. If we think that normal times involve 2 percent growth and 2 percent inflation, a deficit of 4 percent of GDP would be consistent with a stable debt/GDP ratio; so the fiscal gap was around 3 points, not trivial but hardly something that should have been impossible to close.

Now, the IMF says that the structural deficit was much larger — but this reflects its estimate that the Greek economy was operating 10 percent above capacity, which I don’t believe for a minute.”

And Krugman concludes that:

“So yes, Greece was overspending, but not by all that much. It was over indebted, but again not by all that much. How did this turn into a catastrophe that among other things saw debt soar to 170 percent of GDP despite savage austerity?

The euro straitjacket, plus inadequately expansionary monetary policy within the eurozone, are the obvious culprits. But that, surely, is the deep question here. If Europe as currently organized can turn medium-sized fiscal failings into this kind of nightmare, the system is fundamentally unworkable.”

Well, the system was revealed to be unworkable, thanks to the 2008 financial crisis. States were asked to come in, and replenish banks stolen by plutocrats. Meanwhile, the taxing authority and capability of states had been stolen by the likes of Jean-Claude Junckers:

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I Stole, Thus I lead:

The president of the European Commission, Jean-Claude Junckers, speaks of “betrayal” (“trahison” in his native French). He should know about betrayal. Whereas the semi-mythical Corleone in the movie “The Godfather” stole millions, Junckers helped to steal directly hundreds of billions of Euros, and, indirectly, trillions.

When the Euro was conceived by Jacques Delors and his colleagues, it was supposed to stand on two legs, one financial, one economic. However, jealous national governments decided to do away with the economic leg. Only after the 2008 financial crisis was reluctantly built a partial banking union (with mutual insurance and inspection of the biggest banks).

In Greece, as elsewhere, governments saved failing banks with public funds. However, in Greece, the real deficit was higher than the official one, and Greece needed a supplementary help from foreign institutions such as the ECB, EC, and IMF (the “Troika”).

The Troika provided enough rope with its help, to hang Greece with, thanks to “austerity” measures.

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Let’s Vote NO To Plutocrats and Their Obsequious Servants:

Here is Paul Krugman again:

….”acceding to the troika’s ultimatum would represent the final abandonment of any pretense of Greek independence. Don’t be taken in by claims that troika officials are just technocrats explaining to the ignorant Greeks what must be done. These supposed technocrats are in fact fantasists who have disregarded everything we know about macroeconomics, and have been wrong every step of the way. This isn’t about analysis, it’s about power — the power of the creditors to pull the plug on the Greek economy, which persists as long as euro exit is considered unthinkable.”

Indeed.

The ECB, the IMF and European “leaders” are not incompetent. They are extremely powerful, and thus extremely corrupt. What use is their absolute power, if they do not show they can use it absolutely? Should not they engage in the hard work plutocrats and banksters have entrusted them with? Otherwise why should they, or their relations, get rewarded when they come out?

What they want to hide is the nature of the financial crisis, and thus the nature of finance.

“Austerity” is another word for the plutocratization banksters have increasingly brought, over the last few decades. They define the rules, they write the laws. They are indignant that the Greeks vote, because the Greek elite ought to be mature enough to feel that Democracy, Demos-Kratos, People Power, is just a mask for the power of the few and well connected.

There is no reason for austerity whatsoever, if one lived in democracy.

Verily, there is plenty of money out there, among the filthy rich, and plenty of capacity to make money, as needed for We The People. What is in short supply is the will to provide money for We The People.

Alain Bauer, a top, world class criminologist who does not teach only in France but also overseas, for example China, Singapore, estimates that the total money hidden in tiny tax havens amounts to 70 trillion dollars. Even more money is hidden in plain sight, thanks to Delaware and Great Britain (the famous “Non-Doms”), and shell companies.

https://patriceayme.wordpress.com/2014/07/06/usa-financial-extortion/

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Money Creation Is Diverted To Plutocrats, By Plutocrats:

It’s not different from Stalinism, fundamentally!

Even more money is created by the banks for financial derivative trading. The size of that trade, somewhere out there on planet finance is more than ten times world GDP (so it’s around 800 trillion dollars). How come most of the money created is created for the richest, by the richest?

Don’t forget that banks are given a public mandate to create most of the money. So, in a sense, bankers ought to be just what they are: public employees, the modern equivalent of those who struck coins for the government in the three thousand years prior.

It frequently happens in history that minor events act like the proverbial snowball. This, clearly, maybe one such case. It is, in particular, the IMF, based in Washington, last I checked, which is pulling the plug.

What is Washington doing in what ought to be internal European affairs? Well, demolishing a financially independent Europe. Agents of the USA such as the head of the ECB, Draghi, will be happy to oblige. Draghi got his Phd at MIT, and was later  vice-chairman at Goldman-Sachs a Financial Uber Conspiracy Katastrophe (with a telling acronym).

What could go wrong? Last time there was a catastrophe of financial type, banksters lost the banks’ money to plutocrats, and We The People was asked to reimburse the banks. Thus, overall, the wealthiest people and organizations came out of it even richer.

Now the Greeks are refusing to obey, and get ever poorer with their own agreement. Time for another catastrophe? If well done, the rich ought to get even richer. With a little bit of help from their friends at the ECB, IMF, EU, EC, and all these strings pulled from Washington and New York, etc.

http://baselinescenario.com/2010/03/15/senator-kaufman-fraud-still-at-the-heart-of-wall-street/

We have different hearts than those of Wall Street, and it is exactly what the Greeks are now showing for all to see.

Patrice Ayme’

Selection Of The Dirtiest

June 29, 2015

Plutocratic Circus Blossoms As Greek Tragedy

It was not supposed to happen, but a woman in Washington, who used to head one of the world’s largest law firm in Chicago, closed all banks in Greece for a week, and made it so that Greek families now live on fifty Euros a day.

Is that democracy? Who elected that woman? Nobody. More exactly, a handful of guys, talking to each other behind closed doors. But not all is lost. Look at her superiorly tailored suit, her little diamonds, her pearl necklace. She belongs to the well dressed, Wall Street style elite.

A Face Of Evil: Wall Street Fascist Devices In Control Of Europe

A Face Of Evil: Wall Street Fascist Devices In Control Of Europe

[International Monetary Fund (IMF) executive director Christine Lagarde attends a news conference at the end of a Eurogroup meeting at the European Council building in Brussels, March 25, 2013. Elegant fox presides over the hens, to mandate their future.]

A gallery of abominable crooks who give themselves airs decides how to make an example of Greece. Hey, the Porto-Rico governor just announced Porto-Rico was not that rich, and its debt could not be repaid (proportionally, it’s higher than Greece’s). Quick, let’s starve to death a few Greeks! Kindly,  Paul Krugman in “Greece Over Brink” calls the monsters who preside over us “fantasists”.

http://www.nytimes.com/2015/06/29/opinion/paul-krugman-greece-over-the-brink.html?

I will stick to the truth, as I have no reason to spare corrupt crooks who abuse their powers. Differently from Krugman, I don’t have to be polite with these sadistic monsters.

Some may raise an eyebrow: am I not overly critical against a particular individual? Yes, for cause: my scathing critique is directed to a particular criminal behavior. I have no problem hating particular individuals, such as Hitler and his ilk.

Condemning people for crimes they engaged in is the exact opposite from hating people for no good reason, such as where they come from.

Absolute Power Corrupts Absolutely:

Why did the Eurozone bring the International Monetary Fund based in Washington, half a mile from the White House, into what ought to have been an internal European affair? Was it to make sure that Washington would rule the Eurozone?

Does that sound counter-intuitive? Not at all. It is something completely natural. The top European leaders are, or have been, all agents, top operators in, or completely obsessed by the American system.

It’s clear that Greece cannot pay the monumental debt it incurred when money was given to banks. And here the IMF has behaved atrociously: after the Greek government accepted all conditions last week, unbelievably the IMF came up with new orders, such as augmenting the Added Value Tax, higher up. Such an VAT strikes everybody, including the poorest of the poor. The standard rate of VAT in Greece is 23%. (Compare with California’s 10% sales tax!)

Christine Lagarde thinks the Greeks are children. But, when she was offering hundreds of millions Euros of public money to plutocrook Bernard Tapie, she did not mind to deal with a child. Why?

Probably because she is corrupt. Corrupt, some of the naive will say, smirking. Does not corruption imply giving money? Show me the money, and they cackle smugly. However, money is power, absolute money is absolute power, and it corrupts absolutely. Lagarde, an ex competitive swimmer, has enormous power, given to her by other politicians, themselves elected from, and by, money.

http://www.theguardian.com/business/2015/jun/25/greek-crisis-20-key-moments-eurozone

Actually, it’s not a probability, but a certainty: absolute power corrupts absolutely. Lagarde, although the prime villain this week, is closely followed by the head of the EC, one of the world’s greatest engineers of corruption, ever, and the German finance minister (yes, someone already shot that one, that’s why he is in a wheelchair).

***

Financial Terror Feeds Terrorism In General:

Muslim terrorism is, first of all, an intellectual phenomenon: terrorists just read a book written by generals in a time so primitive, the Arabic language did not fully exists, in written form. However terrorism is (partly) motivated, not just by the manipulations of plutocrats, but also by a legitimate rage against plutocracy.

Plutocrats know no bounds, such is their cruel nature. They belong to the most horrendous aspects of mythology. Indeed, the victimization of Greece is a case in point. Some of the most horrendous creatures are on the front stage, pontificating, making up stories that will be remembered for centuries.

Plutocrats hated Alexis Tsipras, the new Greek PM. They had to make him fail. Just when he had agreed to violate a bit the mandate under which he had been elected (his party, Syriza, controls 156 seats in Parliament), Lagarde and her abominable muses, sprang the trap: they asked for more from the (basically) innocent people of Greece. Specifically, they wanted an even higher VAT, as if 23% were not enough.

This, from crooks who fly in private jets.

Somer people will say that someone like Lagarde went from swimmer to head of the IMF on merit. There is another possibility, though: look at Heinrich Himmler. Did he get up there, at the head of the SS, on merit? Not really. Even fellow Nazis admitted he was not that bright (and joked that his brains was Reinhart Heydrich).  Himmler got up there because he was willing to do the dirtiest work.

In the end, Himmler, to advance himself in the rather difficult circumstances of the collapse and invasion of the Third Reich, had to save thousands of Jews (in cooperation with the Swedes, who were also anxious to paint themselves as the opposite of what they had been). Himmler did what it took to advance himself. Whatever it was. If it meant kissing and making up with the Jews, so be it.

So did Stalin: he used to rob banks, with maximum violence, at the head of a gang. So does Lagarde and her ilk. Such individuals will do whatever it takes to advance themselves. That’s why so many “leaders” got where everybody could look up to them. That’s why, and how, they ended, ordering tens of millions. It is the SELECTION OF THE DIRTIEST. Oligarchies all need goons to do the dirty work, just as they need janitors. The dirtiest goons take the decisions, their masters, the plutocrats, smile. The world we have.

Patrice Ayme’

Plutophiles’ “Grexit”.

June 7, 2013

“Grexit” is how Greece leaving the Eurozone is called. (Momentarily introducing a fake currency as California did with “IOU”s, when it had a severe deficit, would not be “Grexit”; California has now a surplus.)

The IMF just recognized having been bone-headed about Greece “Too much austerity” induced:… Notable failures.” 

The IMF enforces monetary orthodoxy, the Eurozone follows. What the IMF is now saying is that monetary orthodoxy is unbalanced. In other words, conventional economists, so far in command, are lunatics.

Presidenta Argentina: I Told You IMF Was Nuts

Presidenta Argentina: I Told You IMF Was Nuts

So what does Paul Krugman conclude? Yes, you guessed it right, the Euro is uglier than ugly. Here is what he said:

“you have to wonder whether it was worth trying to keep Greece in the euro at all. “Grexit” would have been ugly, and will still be ugly if it eventually happens. But compared with what has actually taken place?”

Paul knows a bone when he sees one. He does not like the idea of the Euro, as an equal to the Dollar, and rarely miss an opportunity to make his feelings known. OK, maybe if I had a cushy life because of the USA supremacy system as explicitly as he does, I would not like the Euro either. The more Euro, the less Dollar, looking forward. A serious thing. After all, Euro preference is why Saddam was eradicated. Saudis are paid in Dollars. If they were paid in Euros, Washington would break down (not true in the close future, because of USA fracking is changing everything!).

Let me make the honorable Paul notice this: the I in IMF is for:”International”, like in “International Monetary Fund“. The IMF is what dominates the debate here, not whether Greece is in the Eurozone or not.

Dear Paul, please go back to the Greek civil war (after World War Two). This happened, thanks, in part to heavy Anglo-American military intervention. Number of dead around 800,000. That is proportionally three times more than the American Civil War.

Next, please go back to the dictatorship of the Colonels in the 1960s, also propped by American interests plutocracy.

The Euro is a political answer to such horrors. These are the horrors one is really talking about.

Property rights are a huge problem in Greece: often nobody has any idea who owns what (this makes honest investors shrink at the possibilities). Plutocrats are a huge problem in Greece: they, be they rich ship magnates or the church, pay no taxes. Tax evasion is giant: Greek fortunes are sitting in Swiss bank accounts , etc.

These are huge problems, indeed. However, they were not caused by the Euro, quite the opposite.

The Greek problems having to do with plutocracy, kleptocracy, and a dearth of State of Law, can be traced back to the manu militari intervention of the USA on behalf of its natural allies there, the friendly plutocrats. Those friendly plutocrats, in exchange, just as with the Saudi family, took care of the interests of the USA. (One of them would even marry the widow of the president of the USA, just to show who was the boss.)

To enter the European Union, Greece was forced to democratize (democracy is a culture imposed on those who enter the EU). it was a gift. So was the well intentioned gift of letting Greece enter by overvaluing the Drachma by 100% (that, plus the Olympic Games, somehow backfired, as Greece, as a nation, splurged!).

In the rest of Europe, Greece has the huge and somewhat benevolent friend to help solve the problems left by 23 centuries of foreign, sometimes even alien, and definitively plutocratic, domination by the ugly.

The rest of Europe will help solve the Greek problems, all the more as it somewhat also has them. To put it crudely, Germans have interest that rich Greeks keep on buying Porsches (that means no revolution, but, also, no starvation). Greeks have to decide, democratically, to squeeze their hyper wealthy. Belgium just decided to tax its Royal family, after ludicrous excesses (except for the reigning queen and king).

Having European stakeholders helping out is better than having some autocrat propped by Washington doing so in his own special way (which is what “Grexit” would mean, in practice!).

Such autocrats are no view of the mind, looking at the past: the Egyptian military is an example, one of many. The Egyptian military is completely infeodated to Washington. Yet, plenty of foreign NGO officers got five years in jail in Cairo this week from proceedings started under… Mubarak. (Most of these professional do-gooders had already fled Egypt.)

Problem in Egypt? The Muslim Brotherhood. It had a long love-hate dependency upon both the Saudis, and Washington.
Why not to focus instead of the horror that is Saudi Arabia, and the little arrangements with Washington allowing it to be so (9/11, or the Mali invasion being details of that picture)? These arrangements are fundamentally economic and financial. They are not pretty. They are intrinsically entangled with the nature of the currency of the USA, and its financial potentates.

And how did the dollar start? As the greenback, to pay Federal troops during the Secession War. The central bank was created half a century later.

Ultimately, all state dependent currencies reflect the might of the state behind it. Or the might of a confederation of states: the Imperium Francorum, de facto behaved more as a confederacy as anything else, especially when, having been renamed the “Roman empire“, it got diluted in hundreds of states.

Speaking of that, where did the word “Dollar” come from? From the Thaler“. Or more exactly its Czech version: “Tolar”. The Americans are Czechs, and never knew it! The Thaler was a silver based currency used throughout much of Europe for 400 years. It replaced various coins whose real value was about 5% of their nominative value (inviting forgery). Notice that this transnational currency lasted three times longer than the Dollar.

 The questions of currency, debt, structural deficits, rogue bankers, politicians doing exactly what plutocrats told them to do (“rescue our banks, and let us do exactly what we did before!”) are not the same. By confusing all the issues in a conceptual soup, economists end up playing in the hands of the plutocrats.

It’s particularly telling that American economists obsess about Greece. What’s in it for them? Did Greece organize 9/11? No, Greece did not organize 9/11. 15 out of 19 highjackers in 9/11 were Saudis (and 2 from the UAE). It is the Saudi system, the system that allows a family to own a country, that instigated 9/11. And guess what? That has to do with economics. With the Wall Street induced economic system.

Now, that, is a perspective worth gaining. Instead of moaning of Greece and the Euro, lamenting, fundamentally, that Greece left the orbit of the binary system Washington-Wall Street.

So why do American economists lament about Greece? Because therein their daily bread, pleasing their masters, whether they realize it, or not . Lots of bread, as I explained in Euro Derangement Syndrome. Europe breaking in World War Two gave us the satisfaction of the American Century.

Now the American Century is breaking down, mostly because of the rise of China and Europe, and all the other critters using that tectonic opening (see the Argentinean president above, a butt of hostility for the IMF, for daring to discard the old IMF). Paradoxically global plutocracy is stronger than ever. But it is lacking in dictators anxious to please, and behind whom it could hide.

Thus it would be so much nicer, for Wall Street dependent economists, to see a financial and economic catastrophe in Greece. If “Grexit” happened, Greece would collapse, and, surely, a Washington supported dictator emerge, no doubt a great hope for all sorts of plutocrats and plutophiles.

However, I doubt Europe will not see the peril this time of succumbing to American sirens. Europeans are coming to slowly realize how alien the system in the USA is becoming. They observe, aghast, the great democratic hope Obama going to sleep within homes of countless billionaires, guns all over, millions incarcerated, the security state, spying all over, and, insult added to injuries, the USA being the only advanced country without any mandated paid vacation. Among other things.

And that’s why the right wing temptation has been resisted throughout Europe (even Hungary). So far. Differently from the 1930s, the sort of American plutocracy supported civil war that occurred in Germany in 1932 (10,000 dead, thanks to smuggled USA weapons such as those made by conspiring Browning) will not be tolerated this time. Nor should any ideological drift conducive to European break-up.

Japan itself is drawing the same conclusion: PM Abe, although he has perfect credentials as a right wing politician, broke with Washington diktat. He is devaluating the Yen massively, and engaged in an economic program, with massive structural investments, that true progressives approve. Damn the 240% debt/GDP. To save the world, please default!

***

Patrice Ayme