Greek Debt . . . We Owe THEM!

There is no doubt in my mind that Greece, in fighting back against Brussels and the Troika, has opened a can of worms that will not return to the tin! There is a corruption within our global financial system that is now endemic because it is aided and abetted by an equally corrupt political system.

These corruptions have been going on for centuries now but there is a powerful ‘game changer’ at work in the new world of the internet. Here transparency is becoming the norm and the establishment are desperately trying to suppress it . . . or us. From WikiLeaks to Edward Snowden and now Greece the veil is being constantly lifted on what is emerging as abuses of elephantine proportions.

From the theft of taxpayer money in 2008 to the foisting of yet even more debt on the tiny country of Greece, which is already drowning in what its government have now legally defined as Odious (illegal) debt, our financial system is not only hopelessly out of control but becoming increasingly more brutal in its application.

The harshness of Greece’s treatment, particularly by Germany’s finance minister Wolfgang Schauble who goosesteps across their country demanding no relief from their already suffocating debt, serves no purpose whatsoever in providing sound financial management and can only be designed to frighten the rest of us into submission.

This level of arrogance is particularly paradoxical, given that he is the political overseer of Germany’s financial systems and its largest bank, Deutsche Bank, is reportedly now poised ready to become Europe’s version of Lehman Bros. He isn’t aware of this? . . . Yeah, Right!

If we add to this that banks compliance, with other banks, in the criminal act of rigging the international LIBOR rate, (he wasn’t aware of this either? . . . Yeah, Right!), then the world that Herr Schauble reigns over is as odious as he is, a sentiment endorsed by fellow Germans.

If we then take the demands of the IMF to relinquish Greece of 50bn euros of assets, when it is reported that the country does not now have that level of assets, we have reached a stage of financial manipulation that will not result in financial solvency but a nation of homeless people, destined to live in abject poverty in perpetuity.

So how can criminality like this continue on such a vast scale? The guilt can be squarely placed at the doors of our governments who, in 2008, turned away from the people by aiding and abetting the greatest financial heist in the history of our species. This single act has created a precedent of unimaginable consequences for all of us, manifesting a reign of financial tyranny that is now evident with the treatment of the Greek people.

The EU comprises 28 countries, each with its own national characteristics, needs and ambitions. Like the rich owner of a football team, you can assemble a first class group of players but it is in the management of the individual talent that creates a team capable of winning games for its supporters.

Nowhere in any aspect of the EU can I find any such management skills capable of identifying the individual strengths and weaknesses of the member states and welding them together into a positive force for the good of the people. Having a president, rotated every six months to appease the whole is not a recipe for long term integrated development. There is nobody at the helm to steer such an unstable ship, as is now becoming increasingly evident.

It is within this unhealthy environment that Greece was brought into the club without adequate scrutiny, like all the rest. The result has been that its shaky political establishment has been used and abused relentlessly for the benefit of the banks and other unscrupulous members. Brussels inability to reign in this growing abuse is threatening the whole edifice, which is now on the verge of imploding.

The euro is also playing its part and I my opinion is no use to man nor beast.  I’m sure the politicians had ambitions for it to rival the dominance of the dollar as the global reserve currency. All it seems to be doing however is suffocating the financial independence of member states and hence Greece’s problems now. With its current record I wouldn’t entertain it as the reserve currency in a game of Monopoly!

Our Capitalist driven establishment is sowing the seeds of its own self destruction because its outlandish abuse is being opened up to us by social media and the internet. The same resource that is educating us on the abuse is also now capable of supporting and developing a Society driven establishment. We just need to keep applying ourselves and like the Greek people, not give in. We owe them that much!


Until the next time


Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes