Is Greece’s sovereign debt debacle a dress rehearsal for the United States?

Protesters clash with riot police during a demonstration in Athens, Greece, 1 May 2010. The Greek government is implementing austerity measures, amidst protests, that envision a major overhaul of the taxation and social security/pension systems. Greece has vowed to tackle the debt crisis that has shaken the entire European Union and put the euro currency under pressure.  EPA/ORESTIS PANAGIOTOU

As of this writing, European finance ministers have put together a huge $1.o trillion package to save not only Greece, but the European economic union itself  which is now under the gun of speculative pressure on its currency before securities markets open in Asia.  At issue is the fact that if the EU doesn’t save Greece, there will be a steep selloff in the bonds of the rest of the PIIGS (Portugal, Italy, Ireland, Greece and Spain) and a possible break up of the Eurozone itself.  They’re desperately trying to avoid that.  What’s also being avoided is large financial institutions having to take a hit for imprudent lending and just like the mafia, they want their money back and aren’t especially concerned about what you have to do to accomplish that.  Hence, they’re not concerned with austerity measures and how painful cuts have to be.  But it takes two to tango, Greece’s corrupt political class also enjoyed debt fueled “prosperity” and now the people have to pay the piper for a folly they had nothing to do with.   On a global scale, market forces have been suspended as far as the banks are concerned.  Any problem they’ve encountered is being shifted onto the public purse.  That’s what’s occurring globally and that includes us here in the US.  The thing that must be kept in mind is that the situation in Greece is not separate from that here in the USThe same players are involved.  It’s a global game designed to impoverish and take what little we may have of value. The economic situation in Europe should be watched very carefully as this is like that oil slick in the gulf.  It will be washing on our shores sooner rather that later.

The US debt situation is in as nearly as bad of a situation as Greece and the day is coming where we’ll have to pay the piper.   Already,  like Greece, private debt and toxic assets of the banks have been shifted onto the public purse and our congress refuses to break the power of the big banks as they reject the Brown-Kaufman amendment which would have restricted the size of any given bank.  The congress is totally impotent in the face of the banking oligarchs.  Again, at this point, their power is global and the austerity measures imposed in Greece will ultimately be imposed here.   

There are some who believe that the sovereign debt crisis is the opening bell of severe crash this year.  These predictions are based largely on the pull back/expiration of all of the various fiscal stimuli deployed by governments worldwide.   I’m inclined to agree that there will be a severe reversal in the near term which will catch a great many people on their unawares. 

I’ve posted a series of youtube videos below that explain the problem with Greece’s and other nation’s sovereign debt, Goldman Sach’s role in this and how big of a threat this is.  These are an excellent source of information as to what the problem is.   Once you appreciate the implications, you will not be a happy camper.  It will likely be as clear to you, as it is to me, that this entire thing was planned by economic hit men and they have the entire globe in their scope.  This is an enemy whose only allegiance is to money and they don’t care what currency they get it in.




Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: