Thursday, June 30, 2011

Greg Hunter, “Bankers vs. People”

“Bankers vs. People”
By Greg Hunter’s

“The entire crisis in Greece (and the rest of the world) all comes down to bankers vs. the people.  The bankers made crazy, reckless loans to this tiny country.  If you look back to when the loans were first offered, it’s hard to believe the banks did not know what they were doing.  Did they not know that most people in Greece did not pay taxes?  Did they not know many retired at 50 years old? Did they not know about all the government social programs?  After all, Greece has a socialist government for goodness sakes.

What is going on in Greece is similar to the subprime loan crisis.  Here, people just stopped paying and walked away when the market crashed.  In Greece, the bankers want to turn people into debt slaves for a generation to get their money back.  Heaven forbid any banker writes off the debt and not take a bonus.   David Stockman, who was Director of the Office of Management and Budget in the Reagan Administration, said last week on CNBC that Europeans are going to become tax and debt slaves to continue to pay bankers.  The report said, “In Europe, Stockman raged against a dichotomy of tax and debt slavery created by the EU: “They’re attempting to go turn the prudent Europeans of the north into permanent tax slaves in order to bail out the big banks in France and Germany and elsewhere who don’t deserve a bailout,” he said, adding that, “In order to accomplish that, they will attempt to turn the millions of people who live in southern Europe into permanent debt slaves in order to pay the piper from the guarantees coming from the north.” (Click here for the complete CNBC report.)

There is no wonder why protests in Greece turned violent yesterday.  Tear gas was used by police, vehicles were set on fire and windows were broken.   The Greek Parliament has key votes on an austerity plan (entitlement cuts and tax increases) coming up this week.  The plan has to pass or the EU will not release any more money.  So, on one side, you have the angry protesters, and on the other side, you have the EU (or greedy bankers.)  The heat is on! reported yesterday, “Europe ramped up pressure on the Greek parliament Tuesday to approve drastic austerity measures, warning that it would otherwise face a swift debt default that would rock the world economy. . . . European Union economic affairs commissioner Olli Rehn said Greece was facing a “critical juncture,” and that “both the future of the country and financial stability in Europe are at stake. . . . The only way to avoid immediate default is for Parliament to endorse the revised economic programme.” (Click here for the complete story.)

According to published reports, there is no “plan B” if the austerity plan doesn’t pass.  We just may find out if that is true.  I’ll bet the EU is putting the pressure on with the talk highlighting calamity and Armageddon if it fails.  If it passes, expect there to be uncontrolled riots, and the Greek military to be called in.  There are rumors that the Greek military could stage some sort of coup because some military leaders have reportedly said, “We Will Not Be Sold to Foreign Powers.” I do not know if this is true, but the source of the story is  (Click here for more from

Don’t be surprised if the austerity votes reject the plan, and don’t be surprised if there really is a “plan B.”  If there is no backup plan and the vote fails, then expect all hell to break loose on a global scale.

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