November 30, 2022

News Cymru

Two sides to every headline

The Greek economy has been mismanaged by consecutive greek governments.

The Greek central bank has been instrumental in allowing successive Greek governments being able to run up unsustainable debt which has led directly to today’s financial problems.

Did the Greek central bank deliberately give bad advice to successive Greek governments with the prime goal of getting the country to run up unsustainable debt?

Given the complete control the Greek central bank has over the money supply in coordination with its private banks in Greece, this is entirely plausible.

But what does the Greek central bank have to gain by getting Greece to run up unsustainable debts?

To answer this you have to look at the demands being made by the Troika and the IMF and you also have to look at what the Greek government has actually done to the Greek economy since the crisis started in 2008.

First of all, increasing of taxes on the private sector.

If there is one thing that all economists agree on is that raising taxes slows down the growth of an economy. Greece has been in recession since 2008 so the increasing of taxes is/was designed to increase the financial problems of the government.

But for what purpose?

Ultimately for Greece to give up control of its finances and the country in general, to Europe.

Athens News has a story today stating how Germany wants Greece to give up control over its own finances.

As usual Athens News either does not understand the situation or is deliberately misleading it’s readership.

Germany’s position is clear. If Greece wants money from Germany, then Greece must do as Germany asks. If Greece does not want help from Germany, then Greece can default and Germany will help sort the situation out after.

How likely are Greeks to accept the control of the finances of their country being taken away?

Extremely likely.

In addition to the Greek central bank luring successive Greek governments into a debt trap, the Greek central banks and mainstream media have been telling Greeks that if they do not comply with the demands of creditors then the country will be set back 50 years.

As I have said many times before. This is a false choice and is simply a tool to manipulate the Greek people into sacrificing their independence to outsiders.

So to summarise. The Greek central bank has manipulated successive Greek governments by giving them the false impression that they can run up huge debts with the central bank’s end game being, Greece giving in up it’s sovereignty to the EU.

And to assist in the process, the Greek central bank has done 4 main things to propagandise the Greek people

1. Manipulated Greeks into thinking the Euro is key to Greek prosperity by creating an artificial boom when the Euro was introduced.

2. The Greek central bank continues to manipulate the Greek people today by implying Greeks must obey the Troika or the country will be forced back to the Drachma, which Greeks fell incorrectly, is a backwards step to the Euro.

3. The Greek central bank placed the full responsibility of reckless and excessive government borrowing firmly in the hands of politicians to further propagandise the Greek people into thinking that Greek politicians are completely incompetent. This is done for the purpose of alienating Greek people from the Greek democratic process and make the people more accepting of a democratic process which is controlled by foreigners.

4. The Greek government has made it clear that pensioners, police and benefits will be the first things they cut after a default. The purpose of this is to further push people into excepting illogical and damaging austerity measures.

There are an infinite number of areas that can be cut before you reach the weakest and most vulnerable in society. To suggest the most vulnerable will be hit first is simply immoral. Immoral to think it and immoral to threaten people with it.

Of course politicians are to blame. But do you blame a psychopath for going on a shooting spree or do you blame the gun shop that supplied the gun to the psychopath despite the fact the psychopath told the gun shop owner exactly what he was going to do in advance?

You cannot blame the psychopath for the mental defects that he/she has, they need to be treated. The supposedly expert, responsible and intelligent gun shop owner needs to take responsibility for the shooting given his prior knowledge of what was going to happen.

What is the final play of this strategy?

There is so much resistance from some Greek politicians and the Greek people it is hard to imagine the ultimate goal being achieved without a default.

Greece has far too much baggage to have control truly given up to foreigners. The new foreign government in Brussels will want to start with a clean slate and this ultimately means a Greek default. The Greek default automatically makes all government contracts null and void which will make the real changes that much easier to implement.

The fact that the groundwork has been put in place over the past 3 years for a really painful default, not only will government contracts be null, the people will also be looking for outside assistance even if that means giving up sovereignty.

Why has it taken 3 years to get to this point? Why didn’t the Greek central bank simply pull the plug on the funding from the start?

The Euro. The effect of a Greek government default in 2008/2009 would arguably have be negligible on the Greek people. Unlike previous defaults in other countries, the value of the currency in Greece would not have been wiped out over night.

Therefore a government default in 2008/2009 would not have made people desperate enough to accept sacrificing their sovereignty to foreigners. Real hardship is required and the groundwork to this hardship has been put in place since 2008.

Regulations on businesses have increased making it difficult for the economy to function after a default

The tax increases have also stripped billion of Euros of savings from the Greek people.

Government layoffs have been minimal which means the government is going into a default that will create hundreds of thousands of unemployed workers who will enter a non-existence job market due to the tax increases imposed originally on the private sector.

And despite the fact that Greece is teetering on default, a government spokesman has come out today and said there is no need for layoffs from the public sector! – If you needed any more evidence that the politicians in Greece have no comprehension of what a default means, this is it.

The core to all of Greece’s problems is the Greek central bank and the monopoly they have over the creation of currency in Greece.

This institution needs to be abolished and if not abolished there needs to be a liberalisation in the issuing of currency in Greece.

The Greek government and the Greek people need to allow private companies to come in, be licensed and issue their own currency which is tied to Gold or Silver.

A currency tied to Gold or Silver cannot be manipulated by central banks which means Greeks would no longer be able to be manipulated by central banks.

Introducing competition for the Greek central bank will increase the strength of the Greek economy immesarubaly.

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