The situation is becoming, in the minds of the average Greek, Us versus Them…as such matters always devolve when push comes to shove. People fall back to Tribe.
The Greek national Police Union is now threatening to arrest IMF and EU officials for blackmail and other crimes against the Greek people.
Good on the Greeks.
I have respect for any people, even people I must put in the category of Enemies, who have FU in their DNA. (I do not consider the Greeks enemies, at all. They are Socialists, but the Banksters knew that when they loaned the money…)
We are watching the opening days of our next global war, folks.
In a letter obtained by Reuters on Friday, the Federation of Greek Police accused the officials of “…blackmail, covertly abolishing or eroding democracy and national sovereignty” and said one target of its warrants would be the IMF’s top official for Greece, Poul Thomsen.
The threat is largely symbolic since legal experts say a judge must first authorize such warrants, but it shows the depth of anger against foreign lenders who have demanded drastic wage and pension cuts in exchange for funds to keep Greece afloat.
The bankers want their pound of flesh with interest. No bankruptcy for you! Indebted servitude for eternity! Cue maniacal laughter.
Rapid petro shock would doom the EU at this point. They will either come together as a unified entity, or fail and dissolve into what they were prior to the formation of the union. Either way, those are favorable conditions for mass conflict. History always has a tendency to come back and smack you in the mouth just when you think, “Oh hey, we got the right people this time. There won’t be genocidal war. Humanity has grown up now. See!”.
“Time is running out fast. I think we have maybe a few months — it could be weeks, it could be days — before there is a material risk of a fundamentally unnecessary default by a country like Spain or Italy which would be a financial catastrophe dragging the European banking system and North America with it. So they have to act now.”
“The only two guns in town, one is only theoretical, and that is increasing the size of the EFSF to 3 trillion. It should happen but it can’t for political reasons. The other one, the only remaining share is the ECB. They may have to hold their noses while they do it, and if they don’t do it, it’s the end of the euro zone.”
China is a myth. At it’s core, this statement rings true:
I have held for a long time that the rise of China is a Zero Sum game, slightly modified: Every dollar they earn is a direct result of American policies. The day America chooses to gut the Chinese, it is a simple matter of closing the ports to her imports.
A little pain here…and an E.L.E. in China (Extinction Level Event).
Better believe it Suzi. You can wax poetically all you want about the new Chinese century, and how wealth is shifting east, and I will still echo the concept above. America holds all the cards here, sovereign debt or not.
With regard to war in Europe though. It has been made abundantly clear that the people on the EU have no intention of shrugging off their banking masters’ chains. Berlusconi & Greek Papa-whatever’s resignations are clear signs that the ruling class is still very much calling the shots and running the show.
This is a very big deal. One year ago, the Italian 2-year was at 2.010 and the 10-year was at 3.924 The Italian 2-year is now rapidly approaching where the Portuguese 10-year was one year ago. What this indicates is that the end of the Euro and the end of the EU in its present form will likely take place within one year. Greece and Ireland were sideshows. Italy is the main event.
I would agree with the above statement. This is why my travel plans within CONUS (& especially outside CONUS) have been put on indefinite hold.