The turth about Greece (and why it matters to every human on Earth)

From zerohedge.com

Submitted by Morpheus

Has Italy Gone Fascist?

In August this year, CLSA’s Russell Napier wrote: “Italy is scary – yields will rise when governments chose to take money from their savers – what Russell calls THE GREAT THEFT - Expect massive capital flight”. Yet while Russell was commenting on Italy’s opening move in repressing private capital by raising the capital gains tax, but not on gains of government debt, the situation has moved with such speed over the past 5 months that the emergence of the first Fascist regime following the 2008 crisis can probably now be associated with the new Monti government.
And while Doug Casey addresses getting out of Dodge on these pages (http://www.zerohedge.com/news/doug-casey-addresses-getting-out-dodge), it may be time for Italian to get themselves as well as their capital even faster out of Pizzaland.
Here are the latest developments which are coming in at extraordinary speed:

• The appointment in December of an unelected government. This government has no accountability and no fixed time mandate. It is being sold as being “technocratic”, but is in fact headed by a University Professor who is distinguished for: (i) having been head of the EU Internal Market Commission, where he used the power of the State to fine Microsoft and other corporate that were “getting too big for their boots”;(ii) being a good friend of Romano Prodi, another University Professor from the Communist heartland of the University of Bologna and creator of the Euro (more on him later);(iii) a paid hand of Goldman Sachs and a friend of Mario Draghi, another Goldman puppet who dispatched of the government of Berlusconi within days of taking the helm of the ECB; (iv) a fervent believer in the pre-eminence of the state over the individual;

• Prodi, the original architect of this catastrophe, famously made this comment in 2001, indicating that this cabal of Professors are playing a very long game indeed:

Romano Prodi, EU Commission President, December 2001

• Thanks to his friendship with Monti and the current government, he is very much still involved in shaping just what such instruments can be;
• The passing of an extraordinary edict making cash transactions of more than Euro 1,000 illegal (not subject to reporting – just plain illegal). Following Prodi’s own desire, the existing regime has indicated that this level will be progressively reduced to a limit as low as Euro 300. Hence cash is maybe for the first time in history no longer legal tender (over Euro 1,000, for now);
• A requirement that credit card companies report all transactions carried out by Italians, in Italy and abroad to the fiscal authorities;
• Delays and refusals by banks in allowing customers to withdraw cash balances of as little as Euro 10,000;
• Finance Police has placed cameras at the physical borders with Switzerland (see below) to register all license plates. In addition, currency-sniffing dogs have been deployed at the border (http://www.cdt.ch/ticino-e-regioni/cronaca/56250/fiscovelox-riapparsi-no...).

Events in Italy must be watched closely. The country that gifted Fascism to the world in the 1930s was widely admired even by FDR, who held Mussolini in high regard and was no doubt inspired in many of his own policy choices. Will Italy lead the way once more, as politicians in Europe and the US watch to see what oppressive policies they may get away with?
And while Russell Napier (correctly) foresees capital controls being imposed and suggested that one parks his cash in Singapore dollars, Italians may want to get themselves out as well before the current group of Professors slams the gates shut. Things are moving even faster than one of the world’s leading financial historians could foresee.

Coals said:

Yes and no. The politicians at the end of the day are puppets of the banks. The ECB through the Euro is a parasite in the same way the Fed through the USD is. Goldman Sachs and other banks played a very direct role in sacking Greece. Greece (and the rest of the EU) practices the same perpetual debt scam system as us. If the government spends one penny, it is doomed, it's just a matter of GDP, resources, taxable population, government spending etc. that dictates when.

As long as nothing changes we will be in the same situation as Greece sooner than you think. This is why it is important to pay attention to what is happening over there, why it is happeneing and who is doing what. We are the top of the pyramid, which means we fall last, but it also means we have the furthest to fall.

Click to expand...

So, overspending had nothing to do with it? Spending more than the country took in for decades had nothing to do with it?

Seriously, on its face in the presence of all the other facts your argument is really weak.

Our government is overspending like Greece. Many governments have spent more money than they take in. This is basic economics not some weird conspiracy theory. It is just another avenue the politicians send you running down to deflect from their direct involvement in sacking their own countries.

NLXSK1 said:

So, overspending had nothing to do with it? Spending more than the country took in for decades had nothing to do with it?

Click to expand...

Nope, you need to read it again....slower. Overspending is in there.

My argument is that spending one cent is overspending

Coals said:

Nope, you need to read it again....slower. Overspending is in there.

My argument is that spending one cent is overspending

Click to expand...

So you agree spending over 15 trillion dollars is overspending.

What portion of that 15 trillion is your mysterious interest payments taking up?

Coals said:

Nope, you need to read it again....slower. Overspending is in there.

My argument is that spending one cent is overspending

Click to expand...

I looked into your whole fed mystery and got some information that essentially probed it as bunk.

Look, the FED exists to regulate interest rates.

When the government needs to borrow money it issues bonds and has a bond sale. These bonds are bought by regular Americans, corporations, cities & states, foreign countries, etc. Now, if there is weakness in the markets and people are not interested in buying these bonds the interest rates go up. The Fed exists to purchase these bonds at certain times and thus keep demand for the bonds high and yield for the bonds low.

Now, the bonds that the government issued have an interest rate attached to them and the government has to pay the interest to the bondholders even if the bondholder is the FED.

Here is where your whole conspiracy theory dissolves. After expenses the Fed gives any proceeds from bond income BACK to the treasury... Yes, the money they make goes right back into the government.

Here is a link to their annual reports for 2006 & 2007. Note that the bottom line says... "Payments to treasury" And it is by far the biggest expenditure. That is the excess bond interest income being returned to the federal government. It isnt stashed away for some secret use by jews...

http://www.federalreserve.gov/boarddocs/rptcongress/annual07/sec2/c3.htm#nl7

I am not really happy that their operating budget is about 3 billion dollars per year but that is hardly a line item on our currently bloated budget.

Now, I am not saying we need to keep the Fed or anything like that. I am simply saying that conspiracy theories that are repeated endlessly on the internet are no more true than when Al Gore invented the internet.

NLXSK1 said:

I looked into your whole fed mystery and got some information that essentially probed it as bunk.

Look, the FED exists to regulate interest rates.

When the government needs to borrow money it issues bonds and has a bond sale. These bonds are bought by regular Americans, corporations, cities & states, foreign countries, etc. Now, if there is weakness in the markets and people are not interested in buying these bonds the interest rates go up. The Fed exists to purchase these bonds at certain times and thus keep demand for the bonds high and yield for the bonds low.

Now, the bonds that the government issued have an interest rate attached to them and the government has to pay the interest to the bondholders even if the bondholder is the FED.

Here is where your whole conspiracy theory dissolves. After expenses the Fed gives any proceeds from bond income BACK to the treasury... Yes, the money they make goes right back into the government.

Here is a link to their annual reports for 2006 & 2007. Note that the bottom line says... "Payments to treasury" And it is by far the biggest expenditure. That is the excess bond interest income being returned to the federal government. It isnt stashed away for some secret use by jews...

http://www.federalreserve.gov/boarddocs/rptcongress/annual07/sec2/c3.htm#nl7

I am not really happy that their operating budget is about 3 billion dollars per year but that is hardly a line item on our currently bloated budget.

Now, I am not saying we need to keep the Fed or anything like that. I am simply saying that conspiracy theories that are repeated endlessly on the internet are no more true than when Al Gore invented the internet.

Click to expand...

Yes that is mostly how the Fed works. There are a few things you missed.

The Fed pays a 6 percent dividend to its owners. The Fed is a private company, that is a fact. It has 12 owners, each of which take 6 percent individually. So not all of the money goes back to the treasury.

Most importantly it is a facility of control. The owners are able to control monetary policy for the entire country, and because the US dollar functions as wrold currency it is able to influence world monetary policy.

They do this in their own interests. They own it. It belongs to them. They do not operate in your interests, it is a business. They answer to no one. We do not vote for the directors or the chairman. Even if we did it wouldn't matter as the directors and chairman all report to the owners!

So is there not a conflict of interest here? The owners of the Fed get to direct monetary policy that effects their industry (financial). Its not a bunch of Butchers and Seamstresses that own the Fed, its the banks that lobbied the government for decades trying to get the Fed created.

Theres another issue. The Fed is buying bnds like crazy right now because no one else wants to buy them. SO when the fed buys bonds it does not buy them from the treasury. It buys them from The Goldman Sachs, which adds fees. If you want to buy a bond, you just buy it. If the Fed wants to buy a bond, it goes to the Vampire Squid. Why? Well because they are all really good friends. Bernanke, Timothy, all of them are cronies and want a peice of the action.

RIght now the fed is lending money to the ECB. This is new money. They are printing money in order to inject it into Europe. This is because Europe is insolvent. There are many banks in Europe that should have gone belly up by now. They haven't because the ECB's overnight lending facility has been flush with BILLIONS of US dollars. They take this money and pay their expenses so they can stay open. Guess who is involved in this swap? The Vampire Squid (Goldman Sachs) facilitates the swap and charges the FEd and the ECB fees!

This all has consequences. The interests of the average American is way down the list of this Oligarchy. The US Dollar is being debased, and you have no control over it. Your government has no control over it. THE US GOVERNMENT HAS NO CONTROL OVER IT'S MONETARY POLICY.


"There is no government agency that can override decisions that we make"
-Alan Greenspan

I am just finishing an excelent book about the depths of the Vampire Squid within our government and its relation to the FED and other agencies called Money and Power - How Goldman Sachs Came to Rule the World by William Cohan. I highly recommend it. Its an eye opener to say the least.

I will be reading Ron Pauls END THE FED next, as long as I don't get distracted by Dr. Peter Breggin's Medication Madness. I imagine Ron Paul will offer many more reasons to hate the Fed.


In general I hate central planning. Our founding fathers fled European style central banking, not the red coats. The Red Coats were simply the army representing the English Central Bank. They left Europe and started America specifally because they hated the Federal Reserve (make no mistake the Fed is a central bank). Central banking is a power grab to control countries, and the world, through monetary policy.

[youtube]iYZM58dulPE[/youtube]

[youtube]hEZfMruLMSI[/youtube]

[youtube]yJGFFD93YA4[/youtube]

Not directly related to the FEd but does touch on central banking, usury and TPTB. The whole movie -parts 1-5- is a must watch IMHO.

NLXSK1 said:

I looked into your whole fed mystery and got some information that essentially probed it as bunk.

Look, the FED exists to regulate interest rates.

When the government needs to borrow money it issues bonds and has a bond sale. These bonds are bought by regular Americans, corporations, cities & states, foreign countries, etc. Now, if there is weakness in the markets and people are not interested in buying these bonds the interest rates go up. The Fed exists to purchase these bonds at certain times and thus keep demand for the bonds high and yield for the bonds low.

Now, the bonds that the government issued have an interest rate attached to them and the government has to pay the interest to the bondholders even if the bondholder is the FED.

Here is where your whole conspiracy theory dissolves. After expenses the Fed gives any proceeds from bond income BACK to the treasury... Yes, the money they make goes right back into the government.

Here is a link to their annual reports for 2006 & 2007. Note that the bottom line says... "Payments to treasury" And it is by far the biggest expenditure. That is the excess bond interest income being returned to the federal government. It isnt stashed away for some secret use by jews...

http://www.federalreserve.gov/boarddocs/rptcongress/annual07/sec2/c3.htm#nl7

I am not really happy that their operating budget is about 3 billion dollars per year but that is hardly a line item on our currently bloated budget.

Now, I am not saying we need to keep the Fed or anything like that. I am simply saying that conspiracy theories that are repeated endlessly on the internet are no more true than when Al Gore invented the internet.

Click to expand...

dear sir...

look into the treasury then


what will you find?

that our treasury ceased to exist and was officially made the IMF... do you enjoy that fact? does that make it better?

OUR GOVERNMENT DOES NOT CONTROL OUR MONEY.