NATION OF THIEVES
So. The world communities lends 100’s of billions to Greece business, to Greece institutions and to the Greek Government. The loans are secured and backed by the full trust and credit of the Greek entities involved on clear repayment schedules. Later when the borrower betrays the trust give to them, and can not repay the loan, the creditors extend time. Later when the Greeks can’t still repay the extended loan. More money is lent and the time is extended. In the third bail out, the terms got very strict. Now the Greeks want to suggest:
1. Look we stole your money
2. Look we never intend to repay your money not EVER
3. Look we want you to give us debt relief meaning we never have to repay your loan not EVER
4. We also want new loans to be able to even repay part of your money back from new money you give us.
5. If you won’t give us new money – more than enough to pay you back a part of what you already lent us – we will not even pay that part back. Not ever.
Greece has now not paid a third bail out, term, of trust, under that plan, defaulting ( stealing ) 1.4 billion dollars from just the IMF. The world is watching. What happens when you steal 1.4 billion from the IMF with billions more to follow just around the corner? They are suggesting here is what happens when you steal that money – NOTHING. Nothing at all happens. That is what their politicians are lying to the Greek People about. But of course it is a lie. What is about to happen is a consequence of cheating people. Thats all. Its an adult consequence for cheating.
The world see’s pension fixed income people and we all feel sorry for them. BUT and its a big but, Greek leaders and their voters have been in a thirty year rally to pledge promises that financially are lies. Retire at 62 – 60 – 57 – 55 – etc. The promises can not be paid for. As the budget the Greek Nation and their voters escalated so that the nation spent 170% more than it earned in income, how could the nation continue to operate as it once did? The lies have caught up to the people in the merry go round.
The notion the world owes them a safe living is not true.
The notion Germany can rescue liars and crooks is not true.
The notion anyone can deal with a nation of liars and crooks is naive.
The nation must resolve its fiscal mushroom cloud. No one can save a nation year after year after year after year after decade after decade operating at 170% negative red ink. You don’t give a child who over draws their bank, exceeds their credit limits and never intends to pay anyone back not EVER another new credit card? No one does. No one will. If you issued one new credit card to repay the others. Then the kid went over limit on that bonus card. Then you gave them a second bonus card. They over ran that card expecting the third. You gave them the third card but you said THIS IS THE LAST ONE and they went over limit on that card and asked for a fourth card. You say to that child, NO. Your done. Your grown ups solve this problem yourself.
So what happens?
Greece drops out of the EU. Because the EU will be destroyed by giving Greece the fourth credit card. No one will then trust the EU. Itself.
Further Greece will take a year to get a new currency up and stable. For the first period inflation will run 25% a month. It will be terrible. Unemployment will double from 25% to 50%. Greece will experience a major depression versus a recession. The entire economic network, banks, investment houses and countless businesses will go bankrupt.
Greece will lack revenue to pick up trash, clean up water, deliver power, and manage essentials. There will be no money of any kind. Why? Because of political lies and cheats and children playing in adult world. They have lost confidence of all the world. This confidence will not return to these liars and thieves. Not anytime soon. For the reasons set forth here.
The small cut required of pensions to get through this and other fixed costs that are not sustainable without revenues, will now become a complete cut off of pensions. People will die. Starve. Get ill and die. The cost of the decisions of the few who are so uninformed of how systems work, will now costs millions their security, their futures, and their lives. The standard of living in Greece will become third world.
Greece might resolve its nightmare by becoming a satellite of Russia. That “sell out” of sovereign state into another financial system could work. But the transition will be brutal and Greece will no longer be Greece it will be a Russian State. Russia will have the sea and its major new port. It may pencil for Russia. They will kill the liars and thieves.
Far fetched? You don’t think this is in the works right now? You don’t think Putin seeing the USA is marginalized by global policies of impotence is not fully ERECT to fill in the void? Personally I think its already in the works. When that begins the United Federation of Russia, the Soviet UNION, begins to rebuild in the vacuum left by the WEST.
Can Greece be saved.
Nope. Not with liars and thieves. Can’t be done.
Until Greece considers self responsibility and accepts they bankrupted themselves, no one bankrupted Greece, they did it themselves to themselves for themselves and of themselves. When this happens in Free Market Space their is a depression to redistribute wealth and retool financial systems. This consumes a generation over 25 years.
That is the future for Greece. Greece will be forced to live on a budget. On income. The day of Greece living economically on borrowed funds, on loans, is over. They have trashed their credit and their credit cards have all been recalled. They have no credit. Nothing to lubricate their system.
The population with cash in the banks have all lost ALL THEIR MONEY. Its all gone. There is no money of worth remaining in the bank. No one is going to give the remaining bankrupt EU’s to the population. It is not going to happen. Now the thieves are trying to protect their EU remaining trade accounts to pay for moving to their own currency, which itself will be worthless. No one will trust it when thieves run the nation. Who should ? Who would?
Blame shifting that the EU or Germany and France OWE the thieves new credit and new money, when they have exhausted their promises with thief after crook after thief who just stole their tax payer money and they are out untold billions and ripple costs from the Greek Bankruptcy is obtuse. No one OWES the nation that cheats and fails to adjust spending to income, anything. Not anything. You have to pay your bills. You have to pay them on time. If you don’t you lose your credit card. You lose your privileges. You are not worthy. You are not deserving.
Other tax payers living in proper systems do not owe irresponsible tax payer who live in a system they voted for which was financially INSANE anything. The sane do not need to enter into discussion with the insane. Because the insane is NUTS. No more WHY. No more blame. Who is to blame. The GREEK PEOPLE ARE TO BLAME all of them and until they all take responsibility and boot the leadership out they loose.
There is one hope. THEY ALL VOTE OVERWHELMINGLY to stay in the EU forcing the leadership to return to integrity.
The result of such ignorance is a consequence.
The consequence is Greece is an island of a failed state fully bankrupt. Isolated from the world. Do they understand when cruise ships stop coming in when all trade stops how this spiral makes every hope become an endless dark cloud for this generation. What do you DO if your GREEK? You leave now while your still in the EU. You leave NOW.
Pack up all you can and leave. Leave everything. Go get good jobs anywhere. Those who leave will save themselves and help their nation. Those who stay will perish in state sponsored depression or go under Russia. LEAVE NOW.
Thats my advice if your Greek.
As an investment banker economist I wish I had soft news, better news, but the hope I’ve presented is not being executed by the financial markets – a single new powerful option I call SUPER BONDS and without SUPER BONDS nothing pencils nothing works. Nothing.
So the leadership has failed their people and the people have failed their trust and obligations to debt providers who trusted them. They stole their money. All of their money. The consequence is now you must pay that price of defaulting. It is a terrible price …it always is.
Greece. We will pray of you. Your moral soul as well as your economic future is part of one and the same. Without accepting responsibility for your stealing so much money you are simply not worthy of being in the world community as partners. IT starts and it ENDS right there.
The time to pay the moral piper has arrived this July 4th Weekend.
Chairman CEO SPACE regular writer for THE PERFORMANCE MAGAZINE and others.