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Bankers Stealing Our Wealth And Our Sovereignty
One of the difficulties in attempting to cover developments in the global economy is that often there are flurries of news items which emerge at any one time, making it impossible to deal with all these events as they occur. So it is with respect to an announcement by the European Central Bank on July 20th that Greek government bonds would no longer be “eligible as collateral.”
There are many interesting points for analysis here. To begin with, we see yet another example of these con-men using a slippery euphemism to hide the fact that that their paper Empire of Fraud is collapsing all around us. But there are also many nuances to this announcement, and as we know, when it comes to the mainstream media “nuance” is a non sequitur.
To place this announcement into some context, it’s first worth noting that this is the second time this year that the bankers have “suspended eligibility” of Greece’s bonds, with the last time being literally days before it defaulted on 75% of that debt. With that additional background, we now can fully understand what the ECB actually meant with its euphemism: Greek bonds are worthless.
In turn, this directly implies an even more dire reality: Greece has been declared bankrupt (for the second time in six months). Understand that there is only one small-but-significant step which separates an “insolvent debtor” from a “bankrupt debtor”. While bankruptcy is often inevitable for insolvent debtors, what makes such debtors merely insolvent is that creditors will still continue to extend them additional credit.
Conversely, once the debtor is cut off credit (and unable to pay its bills) then bankruptcy is instantaneous/automatic. Thus we have a cabal of private bankers simply decreeing that all Greek bonds are worthless and (as an inevitable consequence) Greece as a nation is bankrupt. Am I the only person who sees a problem with this?
Once upon a time, Western nations (and their peoples) enjoyed a concept called “sovereignty.” By no coincidence, we enjoyed our sovereignty during a period of history when we practiced a concept known as “the gold standard.” With any nation practicing a gold standard, no cabal of foreign bankers can simply decree that a nation’s bonds were worthless – because they would be backed by gold – and thus no cabal of foreign bankers could decree that your nation was bankrupt.
In other words, yet another of the many benefits provided by a gold standard is economic sovereignty. With it, economic sovereignty is assured. Without it, we are at the mercy of a crooked Banking Oligarchy which has committed more fraud (by dollar value) just in the last decade than all the fraud by all the rest of humanity throughout all of human history, combined. But this is merely a tangent to an even more interesting aspect to this story.
At the same time that Western bankers are in the process of re-elevating gold to its rightful status as the ultimate monetary asset, they have been forced to steadily demote and devalue various forms of their own (fraudulent) paper. Obviously with any con-men running a scam, maintaining confidence in the scam is of supreme importance – hence the original term: “confidence men.”
Thus the absolute last thing which the banking crime syndicate wants to do is to erode confidence in the very paper instruments which they use to commit their serial acts of mega-fraud, such as the $350 trillion LIBOR-fraud. So why are they doing this? The phrase “rats deserting a sinking ship” captures this dynamic quite nicely.
The banksters are decreeing that some of their paper is already worthless/near-worthless as an act of final desperation: acknowledging the worthlessness of some of this paper in order to avoid having the Sheep collectively realize that all of their paper is totally worthless.
2012-08-09 11:21:01
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