Multiple global banks have been fined “record breaking amounts” for foreclosure fraud and interest rigging, yet when we compare it to the actual damages that should have been awarded to the actual victims of the whole Ponzi scheme it would appear that the so-called “record breaking amounts” are just a trickle in the grand swindle bucket.
Everything about the US economy is ready to explode. The hesitance of the Federal Reserve, Inc. to raise interest rates was not just about China.
The final phase of the global financial reset is here and it’s ugly for the stock markets worldwide.
It’s still red all over the place.
Another chemical plant with 300,000 tons of adiponitrile exploded in China at 8:50 PM last night. That’s the second chemical storage to have been blown in a week, and we are asking ourselves why after decades of unprecedented economic progress, they still haven’t learn how to do things properly.
Is that really the case here?
The recent spate of bombings in Asia is just a symptom of what’s to come soon.
This is just a synopsis of what can be expected next month.
Just recently China devalues its Yuan from the dollar to benefit its exporters while making US products more expensive to import, in addition to the massive unloading of US dollars and US treasury bonds in exchange for gold bars. These actions coupled with that of the Saudis may further weaken the influence of the fiat US dollar worldwide and indeed that’s the whole idea.
Contrary to most expert assessments, China does have the capacity to play with its own currency and in fact, with the whole economy because it can survive by itself without being too dependent on Western markets, but with just a little help from friends in the BRICS Alliance.
Here’s one more proof that the whole financial system is one big swindle.
The paper-based monetary system started with nothing, literally. It came into life just by virtue of an imposed agreement. Played with rosy promises, the whole system was put into action with deliberately complex layers of paper shuffling and mind-numbing plethora of financial gobbledygook to cover its empty, shallow foundation.
The glorified usury system of the West has superheated past its boiling point and is ready to explode.
Eurozone leaders demanded that Greek public assets be transferred to a Treuhand-like fund – a fire-sale vehicle similar to the one used after the fall of the Berlin Wall to privatize quickly, at great financial loss, and with devastating effects on employment all of the vanishing East German state’s public property.
The Schiller Institute and the LaRouche Movement are being listened to by Asian governments and the economic template that they have formulated decades ago is serving as the fundamental outline of the Eurasian Project and the reestablishment of the Silk Road multi-cultural economic sphere.
But it’s not Asia only, or the BRICS in general, that are entering a new sociopolitical and economic phase .
Only days ago, the people of Greece gave a resounding NO to IMF/EU austerity bailout programme. Yet, no less than the man who called for such referendum capitulated to all the terms previously presented by the Troika with additional preconditions.
According to pertinent records, only 10% of Greeks debt to the Troika actually went into the national economy, i.e. as much as 90% went to German and French banks. They were bailing out themselves in 2008 at the cost of the pensions of the elderly, and massive unemployment.
Like we have said earlier, the Greek drama will become more involved in the days ahead and much bigger players will come in.
The economic turmoil in Greece and elsewhere are not caused by force majeure but deliberate. It can be avoided to happen again in the future as it should not have happened in the first place, provided the creation of shadow wealth is prohibited.
There is a great probability that even with the resounding NO vote against austerity the EU Vultures will never give away their inflexible position and just let the Greek economy slide deeper into recession. This creates impetus for the BRICS Alliance to come in as it has been itching for the past few weeks before the successful Greferendum.
The Greek bailout referendum is ongoing and while waiting for the results in a few hours, it may be good for us to sift through the information and issues that come across pertaining to the Greek Crisis.
Previously, China hinted that it would help Greece through the EU mechanism, but now there is an idea floated through a Chinese think tank that it might do so directly as the need arises, i.e. when the people of Greece chose to abandon the one-currency European Union.
Tsipras is, of course, right; he had to call a referendum because the troika had delivered “an ultimatum towards Greek democracy and the Greek people.” Indeed, “an ultimatum at odds with the founding principles and values of Europe.”
Most of us here have already understood that the whole financial system is rigged down to its core. We understand that the money they conveniently called liquidity are made out of thin air; the only stock in the market that is not subject to speculation is the human resource and the products they produced. The rest are mere pigments of their imagination and have nothing to do with the real economy.
Do the Greeks deserve to be free from debt slavery?
As harsh as this simple question would be, this actually applies to everyone. The rulers of the world have their own doctrine, i.e. a presumption that people must be ruled before they kill themselves with their freedom.
As expected, Greece decides to default on its fiat obligations to the Troika.
This is of course logical since a NO vote is highly expected on the 5th of July, the day of the Greek Referendum on IMF bailout proposal. Besides, even if it wants to, the Greeks are just bleeding long enough it would be impossible for them to pay without collapsing their own economy permanently.
An official declaration of default to the fiat economic system will be announced later today.
Earlier, the ECB committed to not cutting the ELA funds to the Greek banks. But this has turned out to be a fluke as most of those in the Troika are hell bent on toppling the Tsipras government in much the same way as they imposed sanctions on Russia to topple Vladimir Putin.
This could be temporary, but the ECB is not cutting off liquidity yet and Greek banks may open tomorrow as usual. But to mitigate massive withdrawals, the Greek government might impose some form of capital control this time around.
That’s Greece Finance Minister Yanis Varoufakis asking the hard question, and if you have read the article “Fiat Financial System’s Assured Collapse Sans Greek Contagion”, you will understand that the answer to that question is a big NO.
Here’s a good rundown which we can all relate to what’s happening over there in Greece. After all, both sides of the Atlantic and thereabouts are being choked and bled upon by the same group of financial Corporatocracy leeches.
This is a pretty concise and truthful take on the current mufti-layered financial-geopolitical drama centered on the Atlantic economies, and is a very useful addition to what we already know to date.
Greek PM Tsipras just submitted the IMF/ECB/EU’s “humiliating and blackmail” bailout proposal that requires the Greek government to impose VAT as high as 45%, and massive pension cuts that have resulted to the widespread “misery and pillaging” of the country since its debt crisis exploded five years ago, to a national referendum.
PM Tsipras’ upgraded austerity and bloodletting proposals were rejected earlier by the IMF. Now, an IMF counter-proposal has been leaked into the media.