EU Openly Wants To Overthrow the Greek Government
The Deutsche-Wirtschafts-Nachrichten is reporting that the head of the EU and Merkel are now openly calling for the overthrow of the Greek Government. It is their way or no way. To defend a failed Euro, they will not tolerate any democratic process that disagrees with their vision of a federalized Europe. This is World War III, just in economic domination coming from Brussels.
The President of the European Parliament, Martin Schulz, has stated that holding new elections in Greece is now mandatory when the people vote for the reform program of the creditors. He insists that any relief for the Greeks, which is blackmail keeping their banks closed, will be bridged with a technical transitional government until elections are held that approve only their candidates, and that this will be a requirement of further negotiations. “If this transitional government is a reasonable agreement with the donors, then Syriza time was over. Then Greece has another chance, ” said Schulz. This is outright dictatorship for not a single member of the Troika is elected by the people including the head of the IMF Christine Lagarde.
We have been forecasting a Crisis is Democracy would emerge by 2015.75 back at our 1985 conference. This is just how all societies collapse. Unfortunately, well – it is here.
The Deutsche-Wirtschafts-Nachrichten is reporting that the head of the EU and Merkel are now openly calling for the overthrow of the Greek Government. It is their way or no way. To defend a failed Euro, they will not tolerate any democratic process that disagrees with their vision of a federalized Europe. This is World War III, just in economic domination coming from Brussels.
The President of the European Parliament, Martin Schulz, has stated that holding new elections in Greece is now mandatory when the people vote for the reform program of the creditors. He insists that any relief for the Greeks, which is blackmail keeping their banks closed, will be bridged with a technical transitional government until elections are held that approve only their candidates, and that this will be a requirement of further negotiations. “If this transitional government is a reasonable agreement with the donors, then Syriza time was over. Then Greece has another chance, ” said Schulz. This is outright dictatorship for not a single member of the Troika is elected by the people including the head of the IMF Christine Lagarde.
We have been forecasting a Crisis is Democracy would emerge by 2015.75 back at our 1985 conference. This is just how all societies collapse. Unfortunately, well – it is here.
Happy Independence Day to Our Canadian Readers
Sorry for being late – my bad. This is actually an important Independence Day for you. True, it was originally the Dominion Day on July 1st, 1867 that was the enactment of the British North America Act, 1867 (today called the Constitution Act, 1867). That merged the three possessions of New Brunswick, Nova Scotia with United Province of Canada into a single country. However, it was not until July 1st, 1982 when it became Canada Day or Independence Day when Canada petitioned the British Parliament to be independent no longer requiring approval from Britain to change various laws.
Cyclically, this year is a perfect 17.2 cycle frequency (2 x 8.6) so it will be rather an important alignment with the 2015.75 turning point of the ECM. Yes, 2015 – 1867 happens to be 148 years and divide that by 8.6 you get 17.2. This is why all of a sudden your government is starting to get more aggressive for power. It is just time.
We have a US$ Yearly Bullish Reversal at 124.26 cash (C$ Bearish .7990 futures). The C$ has reached the 128 level. So a closing above this area for year end will confirm the US dollar rally and the C$ could move back to retest the 140-141 area in the middle of this Sovereign Debt Crisis. We should keep in mind that separatist movements worldwide will begin to surge again with this turning point.
Parti Québécois was formed in 1968 We should expect a large surge again into breaking up Canada by 2019. That will be 51.6 years from the start of 1968. Given the excessive debt of Quebec, this will present great tensions as the debt crisis unfolds. Hence, the process beings again this year just as it began in 2011 with the low in the ECM that manifested into the resurgence that we began to see in 2014.
The first Quebec Referendum was 1980 and the second was 1995 for the people to vote for independence. Despite two referendums, and despite the fact that it is 20 years since the last poll was held, the question of independence has never been settled or gone away. In Canada they even have a phrase to describe this protracted constitutional struggle – the “neverendum referendum”. We should see another referendum as soon as 2018.
Sorry for being late – my bad. This is actually an important Independence Day for you. True, it was originally the Dominion Day on July 1st, 1867 that was the enactment of the British North America Act, 1867 (today called the Constitution Act, 1867). That merged the three possessions of New Brunswick, Nova Scotia with United Province of Canada into a single country. However, it was not until July 1st, 1982 when it became Canada Day or Independence Day when Canada petitioned the British Parliament to be independent no longer requiring approval from Britain to change various laws.
Cyclically, this year is a perfect 17.2 cycle frequency (2 x 8.6) so it will be rather an important alignment with the 2015.75 turning point of the ECM. Yes, 2015 – 1867 happens to be 148 years and divide that by 8.6 you get 17.2. This is why all of a sudden your government is starting to get more aggressive for power. It is just time.
We have a US$ Yearly Bullish Reversal at 124.26 cash (C$ Bearish .7990 futures). The C$ has reached the 128 level. So a closing above this area for year end will confirm the US dollar rally and the C$ could move back to retest the 140-141 area in the middle of this Sovereign Debt Crisis. We should keep in mind that separatist movements worldwide will begin to surge again with this turning point.
Parti Québécois was formed in 1968 We should expect a large surge again into breaking up Canada by 2019. That will be 51.6 years from the start of 1968. Given the excessive debt of Quebec, this will present great tensions as the debt crisis unfolds. Hence, the process beings again this year just as it began in 2011 with the low in the ECM that manifested into the resurgence that we began to see in 2014.
The first Quebec Referendum was 1980 and the second was 1995 for the people to vote for independence. Despite two referendums, and despite the fact that it is 20 years since the last poll was held, the question of independence has never been settled or gone away. In Canada they even have a phrase to describe this protracted constitutional struggle – the “neverendum referendum”. We should see another referendum as soon as 2018.
There is No Hope of Stopping the Crisis in Europe
QUESTION: Mr Armstrong;
A friend works for a ….. Hedge Fund. He said you could put together a team to save Europe. Would you take up such a challenge?
Thank you for telling it the way it is.
OD
ANSWER: In theory, Yes, we could put together a team of people from the real world to try to put the breaks on this catastrophe. However, it is impossible at this stage to prevent the crisis. We might be able to mitigate the worst of it, but what has been set in motion must play out. Nobody reforms without the pain. There are many qualified people with real experience who could step up. Many are now asking to join our firm wanting to retire to give something back to society and see this is not going well for their posterity.
Nonetheless, you have to face reality. Mario Draghi, is ex-Goldman Sachs and he will take his direction from them – not me. Christine Lagarde is a lawyer with no background in trading whatsoever. Besides that, I was invited by Edmond Safra to the IMF Dinner in Washington years ago to show me how the banks had the IMF in their pocket. So I highly doubt the IMF would ever listen to me after I have been critical of their role. In addition, they will fight to preserve only the bondholders – never the people. They are lobbying to make their SDR the new reserve currency and will have meetings on that starting in September in line with the ECM turning point. So this is a power-play for them which I seriously doubt they would give up to help anyone.
So two out of three is a deal killer and the third one is an unelected politician. So in theory sure they could turn to the private sector for help, but they are not ready to raise the white flag. The best strategy we can hope for is to assist a single government when it moves into crisis to restructure to show the world the way out. That will be the only way to help by example and then perhaps you have a shot of it rippling back through the system as Britain did during the Great Depression.
Historically, reform has never been done from the top-down so while in theory it would make sense, those at the top of the food chain are trying to retain control and power. Therefore, they will be the last to admit defeat. A country like Greece has lost everything. That would be a far better candidate to reform and their success would then lead the rest of the world. This is simply judging the potential based upon the past.
Our computer has been forecasting that the West will decline and the Financial Capitol of the World will move to China. This is part of the process in motion. The arrogance of the Troika is right on time. So it is hard to see how any team could reverse this trend. It has been set in motion with the birth of Bretton Woods which created the IMF. It is not that all economic activity in the West will cease to exist. Britain still remains, it just no longer rules the world and the pound is no longer the reserve currency. The US dollar replaced that and it is time that the USA declines thanks to Obama handing the reigns of economic power to China.
QUESTION: Mr Armstrong;
A friend works for a ….. Hedge Fund. He said you could put together a team to save Europe. Would you take up such a challenge?
Thank you for telling it the way it is.
OD
ANSWER: In theory, Yes, we could put together a team of people from the real world to try to put the breaks on this catastrophe. However, it is impossible at this stage to prevent the crisis. We might be able to mitigate the worst of it, but what has been set in motion must play out. Nobody reforms without the pain. There are many qualified people with real experience who could step up. Many are now asking to join our firm wanting to retire to give something back to society and see this is not going well for their posterity.
Nonetheless, you have to face reality. Mario Draghi, is ex-Goldman Sachs and he will take his direction from them – not me. Christine Lagarde is a lawyer with no background in trading whatsoever. Besides that, I was invited by Edmond Safra to the IMF Dinner in Washington years ago to show me how the banks had the IMF in their pocket. So I highly doubt the IMF would ever listen to me after I have been critical of their role. In addition, they will fight to preserve only the bondholders – never the people. They are lobbying to make their SDR the new reserve currency and will have meetings on that starting in September in line with the ECM turning point. So this is a power-play for them which I seriously doubt they would give up to help anyone.
So two out of three is a deal killer and the third one is an unelected politician. So in theory sure they could turn to the private sector for help, but they are not ready to raise the white flag. The best strategy we can hope for is to assist a single government when it moves into crisis to restructure to show the world the way out. That will be the only way to help by example and then perhaps you have a shot of it rippling back through the system as Britain did during the Great Depression.
Historically, reform has never been done from the top-down so while in theory it would make sense, those at the top of the food chain are trying to retain control and power. Therefore, they will be the last to admit defeat. A country like Greece has lost everything. That would be a far better candidate to reform and their success would then lead the rest of the world. This is simply judging the potential based upon the past.
Our computer has been forecasting that the West will decline and the Financial Capitol of the World will move to China. This is part of the process in motion. The arrogance of the Troika is right on time. So it is hard to see how any team could reverse this trend. It has been set in motion with the birth of Bretton Woods which created the IMF. It is not that all economic activity in the West will cease to exist. Britain still remains, it just no longer rules the world and the pound is no longer the reserve currency. The US dollar replaced that and it is time that the USA declines thanks to Obama handing the reigns of economic power to China.
IMF Numbers Warn the Troika Has Destroyed the Greek Economy
The IMF on Thursday issued its own analysis on the Greek economy. The new debt forecast numbers have been raised in recent months and while the IMF analysis is never on point (way too optimistic), this tends to make the new number even more shocking. The entire idea of lending more and more money and raising taxes only reduces the economy, increases bad loans, and perpetuates deflation. All these policies ever do is promote bondholders at the expense of the population. This is why our Solution is so critical. Sorry it is not something dreamed up by academics or politicians – just the reality of capital movement. Politicians and academics always see government as the solution and we are the problem.
The new numbers now available reflect that the total rescue program for Greece has failed in the most spectacular manner. The IMF analysts determined, even before the ultimatum to the Greek government, that the Greek economy would need yet an additional €52 billion euros for this third, so-called “bailout”. This amount is the result of nearly four years of bailouts that have totally failed. Effectively, they have been lending money, but simultaneously demanding austerity, which shrinks the economy and increases the deficits. The IMF analysts have evaluated the overall development of the recent Greek bailout. Essentially, the country remains in a sharp downward declining economic spiral. The demands of the Troika are no different from those that oppressed the German economy following World War I, which set the stage for Hitler to take power in 1933. We see Greek protesters dressing up as German Nazis for this is creating deep resentment, which undermines the entire idea of the EU.
In addition to the €52, we still have the immediate needs of €16.3 billion euros. Greece could have actually paid the latter on the second loan program. In order to get a new loan program in the amount of €70 billion, this will no doubt raise serious concerns among other European taxpayers.
On top of all of this, the Troika has deliberately waged war against Greek citizens by shutting down the banks in an attempt to influence the election so that the Greek people will vote “YES” for Brussels and overthrow the Syriza government. The forced closure of banks has caused companies, who were still servicing their debts, to collapse. The Troika has done far more damage than just trying to manipulate the elections. The bank closures at the beginning of the week have escalated and the ripple effect is now sending the Greek economy into a freefall.
The IMF analysts determined that about half of all loans to Greek banks are non-performing loans (NPL), and this was before the bank closures. What this really means is that they have utterly destroyed the Greek economy with their austerity and total incompetence. This in turn will fuel enormous uncertainty among Greek companies and among consumers – it will more than likely push the economy over the cliff.
A total of €240 billion was invested in loans from the various bailout funds to Greece in order to stabilize the financial system in Euroland. This does not include the emergency loans to the ECB, which will probably amount again to €120 billion. In the face of austerity, raising taxes and enforcement, the economy only declines producing deflation. This may have contributed to the IMF’s refusal to provide any more funds. The team of Christine Lagarde seems to have recognized that cosmetic pretend bailouts are running out. The Troika program for Greece has utterly failed and the prospects from here on out look rather grim. The Troikabailout has been the most spectacular failure in modern history.
No one in the Troika will ever accept responsibility for this disaster on a monumental scale. If these figures are true, it is clear: Greece will be pushed into a massive depression. This is most likely going to spread after October 1, 2015. As stated previously, this is a massive DEFLATIONARY wave. We will be on our hands and knees begging for inflation to return.
The IMF on Thursday issued its own analysis on the Greek economy. The new debt forecast numbers have been raised in recent months and while the IMF analysis is never on point (way too optimistic), this tends to make the new number even more shocking. The entire idea of lending more and more money and raising taxes only reduces the economy, increases bad loans, and perpetuates deflation. All these policies ever do is promote bondholders at the expense of the population. This is why our Solution is so critical. Sorry it is not something dreamed up by academics or politicians – just the reality of capital movement. Politicians and academics always see government as the solution and we are the problem.
The new numbers now available reflect that the total rescue program for Greece has failed in the most spectacular manner. The IMF analysts determined, even before the ultimatum to the Greek government, that the Greek economy would need yet an additional €52 billion euros for this third, so-called “bailout”. This amount is the result of nearly four years of bailouts that have totally failed. Effectively, they have been lending money, but simultaneously demanding austerity, which shrinks the economy and increases the deficits. The IMF analysts have evaluated the overall development of the recent Greek bailout. Essentially, the country remains in a sharp downward declining economic spiral. The demands of the Troika are no different from those that oppressed the German economy following World War I, which set the stage for Hitler to take power in 1933. We see Greek protesters dressing up as German Nazis for this is creating deep resentment, which undermines the entire idea of the EU.
In addition to the €52, we still have the immediate needs of €16.3 billion euros. Greece could have actually paid the latter on the second loan program. In order to get a new loan program in the amount of €70 billion, this will no doubt raise serious concerns among other European taxpayers.
On top of all of this, the Troika has deliberately waged war against Greek citizens by shutting down the banks in an attempt to influence the election so that the Greek people will vote “YES” for Brussels and overthrow the Syriza government. The forced closure of banks has caused companies, who were still servicing their debts, to collapse. The Troika has done far more damage than just trying to manipulate the elections. The bank closures at the beginning of the week have escalated and the ripple effect is now sending the Greek economy into a freefall.
The IMF analysts determined that about half of all loans to Greek banks are non-performing loans (NPL), and this was before the bank closures. What this really means is that they have utterly destroyed the Greek economy with their austerity and total incompetence. This in turn will fuel enormous uncertainty among Greek companies and among consumers – it will more than likely push the economy over the cliff.
A total of €240 billion was invested in loans from the various bailout funds to Greece in order to stabilize the financial system in Euroland. This does not include the emergency loans to the ECB, which will probably amount again to €120 billion. In the face of austerity, raising taxes and enforcement, the economy only declines producing deflation. This may have contributed to the IMF’s refusal to provide any more funds. The team of Christine Lagarde seems to have recognized that cosmetic pretend bailouts are running out. The Troika program for Greece has utterly failed and the prospects from here on out look rather grim. The Troikabailout has been the most spectacular failure in modern history.
No one in the Troika will ever accept responsibility for this disaster on a monumental scale. If these figures are true, it is clear: Greece will be pushed into a massive depression. This is most likely going to spread after October 1, 2015. As stated previously, this is a massive DEFLATIONARY wave. We will be on our hands and knees begging for inflation to return.
The Fallacy of Trying to Fight the Troika in Their Own Courts
Greece now threatens to appeal the abuse of the Troika by taking court action to block a Grexit, or really a Greek expulsion or takeover of Greece by the Troika. European leaders have sold their own peoples’ rights to the highest bidder in Brussels and warn in concert that a “No” vote on Sunday means that Greece will be pushed out of the euro.
It would be the GREATEST of all achievements if Greece just got the hell out of this insane sinking ship. The rest of Europe ignored the protests in Cyprus. They are making the very same mistake again by blaming Greece rather than the unsound construction of the euro by people who have no clue what currency truly is. This is now simply about maintaining centralized power at the expense of any democratic policy.
What Hitler could not accomplish by force of arms, Brussels is doing by making decrees.
The EU leaders are now working to rig the elections to make it appear that the Greek people are overthrowing their own government. God help Greece. The Troika will destroy the Greek economy; we will likely see civil war emerge in Greece, for the majority of the people really do want to preserve their own dignity as a nation.
Trying to fight the Troika in their own court is a futile exercise for there is no legal foundation that ensures a true interpretation of the law.
Greece now threatens to appeal the abuse of the Troika by taking court action to block a Grexit, or really a Greek expulsion or takeover of Greece by the Troika. European leaders have sold their own peoples’ rights to the highest bidder in Brussels and warn in concert that a “No” vote on Sunday means that Greece will be pushed out of the euro.
It would be the GREATEST of all achievements if Greece just got the hell out of this insane sinking ship. The rest of Europe ignored the protests in Cyprus. They are making the very same mistake again by blaming Greece rather than the unsound construction of the euro by people who have no clue what currency truly is. This is now simply about maintaining centralized power at the expense of any democratic policy.
What Hitler could not accomplish by force of arms, Brussels is doing by making decrees.
The EU leaders are now working to rig the elections to make it appear that the Greek people are overthrowing their own government. God help Greece. The Troika will destroy the Greek economy; we will likely see civil war emerge in Greece, for the majority of the people really do want to preserve their own dignity as a nation.
Trying to fight the Troika in their own court is a futile exercise for there is no legal foundation that ensures a true interpretation of the law.
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