For every economic crisis any country is experiencing today there’s always a banker behind it. The bankers control which sector of the economy rises and which one needs to fall. They dictate the entire direction to which we, the people of the world, will march towards, every step of the way.
Just recently, even the Pontiff Encyclical recycles the widely discarded global warming hoax, now rebranded as “climate change” phenomenon, the entire thrust of which is to reduce global production which in turn shrinks global population through massive famine and hunger.
The Vatican hierarchy, sitting at the top of the banking cartel, directs where human beings should proceed that will ensure their gradual departure from the only planet they consider home.
The imposition of debt-based economic system is a deliberate and veiled plot to consume sovereign resources until they are completely depleted. The execution only involves shuffling of signed memos and the extensive use of complex financial lingos that only have one common meaning, i.e. swindling.
Who’s Blame for Greek Crisis? Goldman Sachs Takes Heat
The current financial crisis in Greece traces back to 2009 when Goldman Sachs financial architect Antigone Loudiadis made a deal allowing the country to convert its huge debt into euros and then restructure it at more favorable rates.
The Oxford-graduated managing director of Goldman Sachs played a leading role in setting up complex derivative transactions to claw back millions of dollars Greece paid the bank to ensure its position in the euro market.
In the awake of the upcoming deal with Greek creditors, the story came out, unveiling well-hidden reasons for Greece’s deep, extended financial crisis.
The actual amount of Greek debt could have been revealed earlier if the investment bank did not use complex financial deals to help Greece to keep it in the EU following the strict Maastricht rules for eurozone membership.
Goldman Sachs allegedly made $500 million off transactions widely known among financial experts as “swaps,” for which Antigone Loudiadis received $12 million in a year. The Goldman’s former swaps designer Jaber George Jabbour, has written a formal letter to the Greek government stating it could “right historical wrongs as part of [its] plan to reduce Greece’s debt”.
Jabbour is known for his successful assistance during the economic crisis in Portugal and his contribution in the unmasking of Goldman Sachs’ illegal actions toward Libya’s government that brought about billions of dollars in loss.
Greece has a chance to have some amount of amends returned if the Goldman Sachs deals are executed only to hide the country’s debts.
Throughout the years of Greece’s membership in the Eurozone, billions of easy credit became available for Greeks which ended up in default and the current financial crisis.
Greece is facing expulsion from the EU because of a financial crisis and could be forever ‘grateful’ to Goldman Sachs, which swapped debt by Greece in dollars and yen for euro using a mechanism — historical exchange rate — making the debt significantly smaller. The bank made 2% of the debt disappear from Greece’s bank accounts.
Goldman Sachs persuaded Greece not to test the deal with competitors to make sure the value of the currency would be appropriate.
The investment bank made an exorbitant profit out of transactions thanks to the size and architecture of the deal, guided by Loudiadis, who reportedly has been richly rewarded by the bank for her dealmaking prowess.
An uncommon practice among small countries eager to enter the EU by hook or by crook is using convoluted transaction schemes to reduce their debt. In 2008, Eurostat, the EU economic statistics agency, said Greece didn’t state Goldman Sachs transactions after the agency asked it and other countries to restate their accounts.
Whereas Goldman claimed no clashes with Eurostat rules, the bank explained the decision to lower the Greek debt by €2.37bn had a “minimal effect on the country’s overall fiscal situation”.
Goldman never revealed how much it made on the swaps.
“For a legal action to go ahead, Greece would have to show that Goldman Sachs said something it knew was untrue or which it did not care was true or not”, said a former banker advising in court cases with bank derivatives Saul Haydon Rowe.
Lack of risk management and financial expertise has been named as one of the reason the country has been buried in debt for a number of years when it used foreign loans to cover its budget deficit.
Financial experts still rule the world like it was in the financial crisis of 2008 making decisions with a long-run negative impact that imperil the economic and financial security of Eurozone.
If we continue with this trajectory set by the bankers there is only one certainty, i.e. only the bankers will be left standing. Even then, they will be hunting each other out because nothing really is enough for any of them.
So, we have to decide right now on whether we need to keep these breed of animals or not.
The BRICS countries have just concluded another round of meetings to iron out the details of a parallel financial system. So far, we find no reason to doubt that their objective is progressive and peaceful.
We are also expecting that after all these relevant institutions are put in place, i.e. infrastructure banks and implementing agencies, and have started operating, the holders of the Global Collateral Accounts would then pour their hard assets into these alternative institutions for the unhampered implementation of massive humanitarian and infrastructure projects that have been considered to exist only in Science Fiction.
The BRICS recognize the primordial importance of actions rather than those bureaucratic rituals of the old.
BRICS needs concrete actions rather than bureaucratic formalities — Putin
UFA, July 10 /TASS/. Russian President Vladimir Putin does not see the need to transform BRICS (Brazil, Russia, India, China and South Africa) into a full-fledged international organization at this stage.
According to him, real actions are more important than bureaucratic formalities, he said on Friday.
“I do not know whether we should bureaucratize this structure (BRICS). There is no need for that so far. We are creating an E-secretariat to better coordinate our joint wok,” Putin told a news conference held after the BRICS and SCO (Shanghai Cooperation Organization) summits on Friday.
According to Putin, the common desire to integration is much more important. He added that BRICS had started forming in 2006 when the leaders of China, India and Russia met on the sidelines of the G8 summit in St. Petersburg. Brazil and South Africa joined the format later. “Everything goes in a natural way. No one is driving anybody into any associations. It is very important that all participants in the process feel the objective need in cooperation,” the Russian president stressed.
“It is particularly true of the need to create more democratic principles of world economy. Reciprocal support is also important. That is why we created the New Development Bank and the Pool of Foreign Exchange Reserves worth 200 billion US dollars,” Putin said adding that actual instruments of interaction were being formed.
Russia should switch to own system of plastic cards this year — President Putin
UFA, July 10. /TASS/. Russia should switch to the national system of banking cards this year to stop depending on foreign banking systems, Russia’s President Vladimir Putin said at the press-conference after the SCO and BRICS summits on Friday.
According to the president, it is necessary to correct the current situation, where most citizens use cards issued by foreign systems.
“As for financial instruments, we need to fully launch our own “plastic” this year, make it available to our citizens. We need to develop it not only in Russia but also to introduce it abroad,” Putin said.
The President said that when switching to its own system of payment card Russia could be guided by the experience of Japan and China.
“I am confident that this [the transition -TASS] will advance, we have a huge market,” the Russian leader said.
Putin noted that he considers the situation where Visa and MasterCard provide services for 97% of customers in Russia abnormal.
“Visa and Mastercard provide services to 97% of clients in Russia. Is it a normal situation? No!” Putin said.
He added: “We allowed our partners do so proceeding from the fact that economy is out of politics”.
“It turned out that this is not the case, it [economy – TASS] is submerged in politics and used as an instrument of political struggle,” the Russian leader said.
That is why, “we should make conclusions,” he said.
“That does not mean that we should build a wall around us – this won’t happen. We will use all instruments of cooperation with all the countries – with the US, with European and Asian states,” Putin said adding that Moscow will develop relations first of all with “those who are willing to cooperate with us”.
“BRICS countries want this and they are powerful countries with prospects of strategical development, these are the future leaders of the world and of the global economy. No doubt about it,” Putin said proposing to look at “human and natural resources [of BRICS], their potential and growth rate”.
Putin said he also forecasts the emergence of new instruments of cooperation, which will have a positive impact on the lives of people in BRICS countries.
“We will deal with the world which is more balanced, safe and prosperous,”- the president said finishing his speech at the press conference after the SCO and BRICS summits in Ufa.
The strong and able leadership of Russia, the economic might of China, the growing technological capability of India and the full cooperation of Brazil and South Africa have, for the first time, collectively established a formidable force confronting outdated paradigms giving rise to an explosion of optimism on a global scale.
South African president: BRICS influences global geopolitics
PRETORIA, July 11. /TASS/. South Africa’s President Jacob Zuma is pleased with the outcomes of the VII BRICS summit in Ufa, Russia, and says the group influences global political and economic affairs.
“There is no doubt in our minds that almost seven years after we joined BRICS, the world’s geopolitics is changing and the BRICS bloc of countries is having a significant impact particularly on the developing economies. We are pleased with the outcomes of the seventh BRICS Summit,” the president said upon his return from Russia.
“Amongst other things, the BRICS Leaders welcomed the entry into force of the Agreement on New Development Bank (NDB) signed during the VI BRICS Summit in Fortaleza. The Leaders said the NDB shall serve as a powerful instrument for financing infrastructure investment and sustainable development projects in the BRICS and other developing countries as well as emerging market economies,” the presidential administration said in a statement.
BRICS is an informal association of the world’s five major emerging economies – Brazil, Russia, India, China and South Africa – founded in June 2006. The first official summit took place in June 2009 in Russia’s Yekaterinburg. Since then, meetings at the highest level are held annually in member countries. The latest summit took place in Russia’s city of Ufa on July 8-9.
China’s Silk Road wins big at SCO Summit
Heads of State of the Shanghai Cooperation Organisation member countries, observers and dialogue partners at Summit in Ufa, Russia on 10 July 2015 [Image: brics2015.ru] In a recently concluded summit of the region, Beijing has consolidated its already strong economic position in Central Asia.
In Russia for the BRICS and SCO Summits, Chinese President Xi Jinping called on the member states to “uphold the “Shanghai Spirit” for common development”.
At least $16 billion of China’s $40 billion Silk Road Fund will be dedicated to projects in Central Asia.
President Xi announced in Ufa, Beijing is willing to strengthen investment cooperation with other SCO members channeling the China-Eurasia Economic Cooperation Fund and the Silk Road Fund, “focusing on large infrastructure projects, resources exploitation, industry and finance”.
China had already announced a $40 billion Silk Road Fund last year.
Xi on Friday also welcomed the planned expansion of the China-Russia-led SCO to include Asian neighbours India and Pakistan.
The Shanghai Cooperation Organisation (SCO) passed a resolution Friday to initiate the procedures of granting India and Pakistan full membership of the organization at the 15th SCO summit in the southwestern Russian city of Ufa.
Both countries will become full-fledged members of SCO at the Tashkent Summit in 2016.
Currently, both India and Pakistan are observers at the bloc. Pakistan applied for a full membership in 2006 and India in 2014.
Also Friday, the SCO elevated Belarus to the status of observer from dialogue partner, and took in Azerbaijan, Armenia, Cambodia and Nepal as new dialogue partners.
“China believes that the admission of new forces into the SCO will inject new impetus into the organization’s all-ranging cooperation,” Xi said while delivering a speech at the summit.
Founded in 2001, the SCO now has China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan as its full members, with Afghanistan, Belarus, India, Iran, Mongolia and Pakistan as observers, and Armenia, Azerbaijan, Cambodia, Nepal, Sri Lanka and Turkey as dialogue partners.
The SCO signed an agreement on border defense at the summit in Ufa. The bloc is also drawing up a new treaty on fighting extremism.
Russian President Vladimir Putin said at the Summit on Friday that “ensuring the security of the member countries’ territory and external borders remains one of the Shanghai Cooperation Organisation’s priority areas of work”.
“The growing activity of the Islamic State terrorist organisation, which is trying to spread its influence, is further worsening the situation. We agreed to bolster coordination between our defence ministries to monitor the situation more effectively and coordinate joint action to prevent potential threats,” said Putin.
The Russian President and Chinese leader Xi Jinping signed a decree in May on tying the development of the Russia-led Eurasian Economic Union with China’s ambitious “Silk Road” economic project.
The SCO member states are also planning a new bank after the successful launch of the new BRICS Bank and the Asian Infrastructure Investment Bank (AIIB).
“The SCO members should strive for early establishment of their own financing vehicles to serve multilateral projects of shared benefits, as well as the economic development of each member,” said Xi.
Xi, in Russia this week, also called on member states to quicken the implementation of an SCO transport corridor.
China will provide funds to support the feasibility study and plans of the project, he said.
His Russian counterpart agreed.
“We see big promise for the initiative of developing a common SCO transport system, including using the transit potential offered by the Trans-Siberian and Baikal-Amur railways in Russia,” Putin proposed.
In the next few years, China will push for the completion of 4,000 kilometers of railway and over 10,000 kilometers of highway within the region, Xi said. Beijing has already invested billions of dollars in the natural gas pipeline network connecting Central Asian producers to China.
In tying the region further with its Silk Road Project, China also urged member states to deepen industrial capacity cooperation and push forward the building of industrial parks in every member state.
The Russia-China alliance in Central Asia received a boost with Putin agreeing to most of Beijing’s proposals.
At a press conference following the BRICS and SCO Summits in Ufa on Friday, Putin underlined the need for further integration of the region’s economies.
“China remains the locomotive of world economy,” said Putin.
“Our colleagues in the SCO and BRICS often talk about the need to develop infrastructure without which it is impossible to ensure sustainable development. This applies to railways, roads, air transport and pipelines. It is hard to dispute this. Meanwhile, the Silk Road Economic Belt projects and our plans for the development of Tran-Siberian Railway and the Baikal-Amur Railway and some of our other projects in the EAEU obviously require joint efforts,” he added.
TBP and Agencies
Progressive mindsets are contagious. They draw and attract more progressive people into their fold. This is the natural order of things. Constructive force is an attractive medium; destructive wars are repulsive. No sane leadership would be dreaming of being part of a nation hell bent on destroying others.
SCO countries to continue working on establishing development bank, fund
UFA, July 10. /TASS/. The countries of SCO (Shanghai Cooperation Organization) will continue working on the establishment of the Development Bank and Development Fund, according to the final declaration that was approved on Friday following the results of the summit.
According to the document, the member-states will continue to work on creation of the SCO Development Fund and SCO Development Bank to boost trade and investment relations in the region.
The SCO member-states are China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan. Afghanistan, India, Iran, Mongolia, Pakistan are observer states of the organization.
The SCO countries decided to set up their own bank and fund at the summit in Bishkek in December of 2012. So far no practical steps to establish these institutions have been made.
The creation of new institutes for development in China and other countries of BRICS /Brazil, Russia, India, China, South Africa/ may give an impetus to the establishment of same institutes by the SCO.
BRICS countries signed an agreement on establishing BRICS New Development Bank in July 2014 in Brazil. The bank is to finance infrastructure projects and sustainable development of the member-states of BRICS and other developing countries.
In 2013, China initiated the establishment of the Asian Infrastructure Investment Bank (AIIB) to stimulate financial interaction in the Asia-Pacific region, implement infrastructural projects and also expand integration processes. The bank’s five major founding nations by investment are China, India, Russia, Germany and South Korea.
On December 29, 2014, the Silk Road Fund was established to finance the Silk Road Economic Belt. The fund is worth $40 bln. The Silk Road Economic Belt envisages support for investment and infrastructural projects, expected to bring about a common market of Europe and Asia and a network of automobile roads and railways, industrial parks and power plants.
At the summits of BRICS and SCO in Ufa, the founders of these institutes said that they won’t compete with each other.
The SCO countries also plan to create an International center for project financing on the base of its interbank association. Russia’s President Vladimir Putin announced this at an extended session of the Council of the leaders of SCO countries.
When elite military forces from China and India marched with Russian forces during its 70th Victory Day against the Nazis in WW2 it was considered more than just an expression of unity among the largest and mightiest armies of the world.
There will be a redux soon.
Leaders of SCO countries confirm they will come to Beijing for WWII Victory celebrations
UFA, July 10. /TASS/. The leaders of all member-countries of the Shanghai Cooperation Organization (SCO) have confirmed that they will attend the commemorative events in Beijing to mark the 70th anniversary of the end of World War II and China’s war with the Japanese invaders, Chinese Vice Foreign Minister Cheng Guoping said on Friday.
“During the summit, the leaders of all SCO member-countries confirmed that they would attend the commemorative events in Beijing on September 3,” he said.
Cheng Guoping noted that Chinese President Xi Jinping had also sent an invitation to Japanese Prime Minister Shinzo Abe.
The Shanghai Cooperation Organization (SCO) is the regional international association comprising Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. India and Pakistan applied to become full SCO members last September. Iran also seeks full SCO membership.
Such outmoded concepts of perpetual fear and war of attrition to keep the masses in one place is being replaced with the more progressive concepts of mutual respect, cooperation for collective progress and abundance.
Higher quality of life for all induces significant advancement on the level of thinking for every individual, i.e. a total eradication of the worthless eater.
Only when each one of us begins to think at elevated degrees will all corruptions be forever conquered.
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