How Greece was robbed by the banksters

The Greek people should invoke what Thucydides once said: “As
for the name, it is called a democracy, for the administration
is run with a view to the interests of the many, not of the few”

 

The preliminary report explaining in detail how Greece got robbed and financially devastated was released to the public in 2015. I am hereby re-posting it in its entirety as it is the most compelling case, full of evidence, against the world’s greatest gangsters banksters.

Here are some most crucial findings of report’s authors, the Truth Committee on Greek Public Debt, with my emphasis :

  • The report concludes that the increase in debt was not due to excessive public spending, which in fact remained lower than the public spending of other Eurozone countries, but rather due to the payment of extremely high rates of interest to creditors, excessive and unjustified military spending, loss of tax revenues due to illicit capital outflows, state recapitalization of private banks, and the international imbalances created via the flaws in the design of the Monetary Union itself ,
  • the first loan agreement of 2010 was aimed primarily to rescue the Greek and other European private banks, and to allow the banks to reduce their exposure to Greek government bonds,
  • the report reveals the mechanisms devised by the agreements that were implemented since May 2010. They created a substantial amount of new debt to bilateral creditors and the European Financial Stability Fund (EFSF), whilst generating abusive costs thus deepening the crisis further. The mechanisms disclose how the majority of borrowed funds were transferred directly to financial institutions. Rather than benefiting Greece, they have accelerated the privatization process, through the use of financial instruments,
  • how the creditors imposed intrusive conditionalities attached to the loan agreements, which led directly to the economic unviability and unsustainability of debt. These conditionalities, on which the creditors still insist, have not only contributed to lower GDP as well as higher public borrowing, hence a higher public debt/GDP making Greece’s debt more unsustainable, but also engineered dramatic changes in the society and caused a humanitarian crisis. The Greek public debt can be considered as totally unsustainable at present,
  • the measures implemented under the “bailout programmes” have directly affected living conditions of the people and violated human rights, which Greece and its partners are obliged to respect, protect and promote under domestic, regional and international law. The drastic adjustments, imposed on the Greek economy and society as a whole, have brought about a rapid deterioration of living standards, and remain incompatible with social justice, social cohesion, democracy and human rights,
  • there has been a breach of human rights obligations on the part of Greece itself and the lenders, that is the Euro Area (Lender) Member States, the European Commission, the European Central Bank, and the International Monetary Fund, who imposed these measures on Greece. All these actors failed to assess the human rights violations as an outcome of the policies they obliged Greece to pursue, and also directly violated the Greek constitution by effectively stripping Greece of most of its sovereign rights. The agreements contain abusive clauses, effectively coercing Greece to surrender significant aspects of its sovereignty. This is imprinted in the choice of the English law as governing law for those agreements, which facilitated the circumvention of the Greek Constitution and international human rights obligations. Conflicts with human rights and customary obligations, several indications of contracting parties acting in bad faith, which together with the unconscionable character of the agreements, render these agreements invalid,
  • the report concludes the Greek public debt as of June 2015 is unsustainable, since Greece is currently unable to service its debt without seriously impairing its capacity to fulfill its basic human rights obligations. Furthermore, for each creditor, the report provides evidence of indicative cases of illegal, illegitimate and odious debts,
  • Debt to the IMF should be considered illegal since its concession breached the IMF’s own statutes, and its conditions breached the Greek Constitution, international customary law, and treaties to which Greece is a party. It is also illegitimate, since conditions included policy prescriptions that infringed human rights obligations. Finally, it is odious since the IMF knew that the imposed measures were undemocratic, ineffective, and would lead to serious violations of socio-economic rights.
  • Greek debts to the ECB should be considered illegal since the ECB over-stepped its mandate by imposing the application of macroeconomic adjustment programmes (e.g. labour market deregulation) via its participation in the Troika. Debts to the ECB are also illegitimate and odious, since the principal raison d’etre of the Securities Market Programmeme (SMP) was to serve the interests of the financial institutions, allowing the major European and Greek private banks to dispose of their Greek bonds,
  • the bilateral loans should be considered illegal since they violate the procedure provided by the Greek constitution. The bilateral loans are furthermore illegitimate, since they were not used for the benefit of the population, but merely enabled the private creditors of Greece to be bailed out. Finally, the bilateral loans are odious since the lender states and the European Commission knew of potential violations, but in 2010 and 2012 avoided to assess the human rights impacts of the macroeconomic adjustment and fiscal consolidation that were the conditions for the loans,
  • The debt to private creditors should be considered illegal because private banks conducted themselves irresponsibly before the Troika came into being, failing to observe due diligence, while some private creditors such as hedge funds also acted in bad faith. Parts of the debts to private banks and hedge funds are illegitimate for the same reasons that they are illegal; furthermore, Greek banks were illegitimately recapitalized by tax-payers. Debts to private banks and hedge funds are odious, since major private creditors were aware that these debts were not incurred in the best interests of the population but rather for their own benefit,

 

Having concluded its preliminary investigation, the Committee considers that Greece has been and still is the victim of an attack premeditated and organized by the International Monetary Fund, the European Central Bank, and the European Commission. This violent, illegal and immoral mission is aimed exclusively at shifting private debt onto the public sector.

Or in plain English, read the report to find out how Greece got robbed by the banksters. These financial vampires are still walking around unpunished. 

 

You can download the entire report here.

 

 

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17 thoughts on “How Greece was robbed by the banksters

  1. It’s amazing that nothing severe has happened since. Surely the people know that they were looted and robbed? But then again, what can be done when it all happens behind closed doors and in secret meetings?

    Extortive taxation and usury should be abolished. ALL human interaction should be voluntary.

    Liked by 1 person

    1. Nothing severe happened, although people were in the streets for long 2 years. And achieved nothing. I’m very sure vast majority of Greeks would agree they were robbed of money and basic dignity and they tried to fight back. What should be done and in what way? As much as I’m a pacifist, I don’t think these jewish overlords can be removed without an army. And that’s what makes me worried, will we ever be ready to do the last step?

      True – usury is the biggest issue. In entraps everybody in debt and should be abolished. Taxation is an invention to take away your earned money and transfer it to debt repayment, i.e. few families who own the mint.

      There is a cool article here https://realcurrencies.wordpress.com/2019/01/05/the-economy-of-the-promised-land/ , where the author explains what would be like in an usury-free system. I can hardly imagine anything like it, but on the other hand it truly sounds like heaven on Earth. Mostly due to the fact that in that particular scenario, there are no bastards left at the top so we could actually live in peace for once.

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      1. Regarding the two year fight of the Greeks: Jacques Attali explained how this happens: “Attali believes that all opposition to the coming world order will be futile because it will not propose another system.
        ‘Most of these new contestants will propose no system of substitution… Expect for a handful who will propose a return to theocracy.'”
        https://www.henrymakow.com/insider_reveals_21st_century_i.html

        People ‘protest’, but they’re just letting off steam. They have no inkling of either the real issue (Usury), or what to about it (Interest-free lending, which is not just totally possible, but insanely simple).

        The NWO expects to win, because people just moan and complain, they do not use their brains for some actual cold, hard thinking on how things should actually be solved.

        (I came here because you linked to my article about the Economy of the Promised Land, which is trying to help break through the problem: as you said: ‘I can hardly imagine anything like it’, I think it is massive stumbling block for people that they cannot envisage a better way, and be well aware: immense effort has been made to make this so. For instance: the not-so-New World Order has for thousands of years undermined and destroyed functional, just societies with the key goal of preventing people elsewhere, under their boot, from getting any ideas.

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  2. It’s incredible when it’s there in black and white. I suspect that most ordinary Greeks have little or no idea of the report’s findings, and would be in no position to do much about it.
    As usual it’s a case of ‘ok, we know the truth, but what the hell do we do about it?’.
    Daylight robbery, literally.

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  3. Well, the ordinary people were protesting for approximately 2 years, as all austerity measures were carried on as if there was nobody in the streets protesting. So even if some of them knew what it was all about, the result remained the same – they got robbed. All the perpetrators of this financial and humanitarian rights crimes are free to walk this Earth, which is real life’s sarcasm. We ought to change it, though. Enough is enough, right?

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    1. “All the perpetrators of this financial and humanitarian rights crimes are free to walk this Earth, which is real life’s sarcasm. We ought to change it, though. Enough is enough, right?”

      Absolutely. Where do we start?

      As I recall, the Greeks elected a group that was going to stand up to the IMF and its cronies with a fast-bike riding, financial wizard and a dashing presidential candidate—who sold them all out to the IMF & company in the end. As I’ve stated in Cutting forums; that ballot thing is totally bogus and this paper proves that point. So How?

      Not being a wise ass, but small “wins” by groups like the Yellow Vests is tantamount to six-thousand more years of the status quo, maybe, being slightly inconvenienced. Jared and I have been back and forth on this and he’s correct when he says we’re always fighting the wrong enemy. Yes, local fights are necessary, yet when they produce no significant change, why waste the fight there? So again, I ask how?

      As posted below, Iceland certainly had no problem with their actions and as such their economy is back full tilt and their fraudsters, jailed. Iceland was the first country to get full media attention as the infamous “PIIGS” (at least here stateside) and since their solution, not one peep from the media. Other countries coulda, shoulda, but didn’t, including the US with our splendid “Hope” imposter. I and apparently many others in my state wrote to our “elected” senator telling him no bailouts or no re-election. Surprisingly, he was one of less than two handfuls to vote against the bailout. Obviously that didn’t work, so what will?

      Truth is, the large majority of the population will NOT partake in anything that inconveniences them one iota. Here in the states, that number is probably more. As well as the fact, in the US, a staunch 30% approve of things as they stand now—even if it’s their own worse interest. Plus, “mericans” have little or no concept of anything outside their own borders and couldn’t care less about it, except to ridicule the French incessantly.

      Have enjoyed your articles and your posts in Cutting and glad to finally be able to post here as well. Used to think this wasn’t my fight due to the age thing, but not anymore. WTF do I have to lose that I haven’t already? So I’m all in, as the the poker saying goes. But not in penny-ante poker nor nickel, dime quarter, either. We have more facts than we can possibly shake a thousand sticks at, when do we cease the the call outs and start to actually take out the perps?

      And how?

      PS. Loved the audio piece, particularly as a hearing impaired, from childhood, specimen! Maybe I beat them in deafness?!!

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      1. So many excellent points in your comment,Wayne. All the right questions are being asked – where and how do we begin with dismantling the self-imposed rulers?

        I agree, the elections / “ballot thing” are bogus events – they’re either completely made up in terms of percentage or every candidate is a representative of the elites (under the guise, of course). In both ways the elites get their own guy/gal positioned at the top of the ruling chain, locally. What ought to be a democratic process of appointing people’s representatives is nothing more than an illusion. Pure bollocks, Show me one true representative of the people anywhere in the world, who gets a) a seat in the parliament and b) proper and equal representation within the media, where elite’s front dogs dominate with lies and manipulations. I’ve not yet seen anything alike anywhere in this world made mostly out of lies. In the current system, authored and promoted by the worst kind of people, there is no place for the truth. So we’re actually going deeper and deeper into the dark hole of humanity, with each new elections anywhere in this world. I really don’t know how is it possible to hypnotize and manipulate so many people globally It’s the most amazing feature of our upside-down reality when I think about it.

        You were talking about Alexis Tsipras and Yanis Varoufakis of the former Syriza party setup. The two appeared as the saviors of Greeks, while they were working against their own people from the start. If they didn’t, they would never become political party’s representatives because that’s how it goes in the politics. You either howl with all the other wolves in the pack or you never even enter “the game”. When we see TV promoting any “people’s” representative, we should tag him/her as compromised. And that’s exactly what was going on in Greece in 2011 and 2012 – for the millionth time, the people fell for empty promises. An average Greek person was not able to see that Tsipras is leading them over the edge of the cliff, just like his predecessor. In the meanwhile, they got robbed and heavily beaten with austerity measures. People took the streets only to get harassed again by their own fellow countrymen, this time with sticks, rubber bullets and tear gas. It’s really crazy to think about it, this kind of treason of Greek people and their country should be heavily punished by Greeks themselves, but they can’t seem to realize what actually happened.

        So it’s more than just how do we get rid of our self-imposed rulers, but as well how to properly educate the people about the real state of affairs globally. I too agree with Jared when he said one needs to know who the real enemy is. Of course, in any other scenario one might not eliminate the usurper from the rest of society, meaning the status quo would continue. But how do we do it? How can we spread out the truth on grand scale and educate enough people to reach the critical mass of people who’d be motivated enough to stand up against them? In average, people like to be guided and are not thinking too much. The more I think about it, the more it becomes clear to me that we’ll have to fight for our freedom. Unless of course, we manage to wake up just about everybody, which includes policemen, soldiers and other mercenaries who are usually standing against us. That would be a day, eh?

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        1. Vexman, thanks for your thought-provoking reply.

          Though I agree we need to educate the masses, the probability of doing so seems a tad hopeless, at least on this end and especially in this country (US). Crap my own family thinks me a nutcase when “discussing” these issues, but in reality, that’s always been the case for my having been “different.” If you cannot convince those who know you intimately, what then? Literally, most people do not want to hear that everything they think they know is an elaborate scheme, falsehood or completely faked. Sends them into shocked disbelief and immediately onto, “That’s not even possible….” Yet WE KNOW something entirely different.

          The concept of actually waging war with the true enemy is ludicrous as long as the military, police, governors, courts and a goodly portion of society are in their pockets or at least on their side. Kinda like spitting into hurricane-force winds…gonna come right back at you. Though probably less damaging than what the war thing would bring. I’m tired of the hopelessness of it all. Not sure I can even read another article since the cast of characters and ending is always the same. I’m ok with my “knowledge,” what I am not okay with is acceptance. I mean the CIA admits to a six-million “workforce,” what of M5/M6, Mossad et al? That’s a lot of inpocket people to overcome and we haven’t yet factored in police, military, oligarchs, media, tech, fake governors and everyday provocateurs. Reality is, there aren’t too many ways in which this enemy can be defeated and they know that. They own 90% of the world and thereby control everything and have for eons.

          There will be another Great Recession similar to the ‘08 apocalypse and once again the governors will bring down the house of cards, grab it back on the cheap, make trillions and leave us paupers holding an even larger “tax” bill. And yet again, the masses will scratch their collective heads and wonder how we got here and new generations will be added to lay fallow in the fields for generations to come, as the stage(d) show continues…unabated. Sorry to be so melancholy but have been a problem solver all my life…but this one…this one drives me nuts and short of shape-shifting and time travel, I’ve got no real answers. I’m not hot on small gains and yet another six-thousand years with the status quo, maybe slightly inconvenienced. The only joy is knowing that the scumbags will leave this earth with exactly what they came here with—nothing. But so do we all….

          Has to be a way, no? At least, is there a start to a conversation? Or are we that far down the rabbit hole that even Bugs Bunny can’t help us?

          Again, thanks for your time and reply. Thrilled to finally be able to speak to you.

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  4. What’s lost in all this, is only one of the original PIIGS nations has turned it around, Iceland. They arrested and jailed their banksters and have recovered nicely. Also interesting is they are no longer mentioned in any shape or form anymore by the EU or anyone else!

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    1. Good point. Also, Iceland didn’t give away their sovereignty and waste all their time protesting. They also didn’t wait around for others to do what was needed to be done.

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  5. Hey Vexman, is there a content limit or is this thread closed? Tried to add a response, went through and I figured it was being moderated, but it never showed up. Tried again and got a “this post cannot be posted.” warning.

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  6. Hi Vexman and other commenters. I’ve been grappling with the IMF conditionality thing for a long time. Back in the day, it was written about by people publishing books through the South End Press and articles in the Fifth Estate newspaper in Detroit. I think Ramparts also dove into the critique as well. After disengaging from the leftist perspective on the subject, I started reading publications from the Bank of International Settlements to see if I could figure out what was really going on. Knowing that the BIS was founded by Hjalmar Schacht and Montagu Norman helped keep my radar up. The endless monetary and economic crises in developing countries always demonstrated the deliberate aspects of the collaboration of BIS, World Bank, IMF and Central Banks in the promulgation of misery, resource exploitation, political turmoil, and other such negative effects on the countries and peoples targeted; just as the conclusions of the Truth Committee on Greek Public Debt itemize. Thanks for posting it.

    The next global crisis in the works is probably going to be one for the history books. Modern Monetary Theory (MMT) as espoused by the left today, through the actors like AOC, Sanders and Warren (among others), has been on the back-burner for many years. Ellen Hodgson Brown has been promoting a version of it. My take is that the dollar-reserve system is so far gone, that MMT is the next stepping-stone, prior to a full-blown Weimar hyperinflation in the US, as the government (Famillies) defends its (Their) lifestyles and controls, printing currency (probably mostly digitally) and juggling debts with abandon, impoverishing most in the process. It will be loss of confidence in the US dollar that initiates mass-printing in whatever form, and the signature characteristic will be that while no amount of base-money creation will keep up with price increases, the government will be the first to spend the newly-created dollars. Yes, there will actually be a shortage of money, and credit will become almost non-existent. It will be a double-whammy of asset destruction, a reverse wealth-effect for sure, along with the devaluation of the dollar. These Families have done this trick from Argentina to Malaysia to Russia, and the codification of “Bail-Ins” has cleared most national hurdles, so as banks fail next time, their creditors will be on the hook, which means depositors as well as bond-holders.

    https://www.bis.org/review/r131001b.htm

    This take-down, or “bust-out” as it was referred to by organized crime back in the day, will nail pensioners to the wall, in that their funds are heavily loaded with Treasury debt, a derivative of base-money. The design of the Euro goes back to at least the 1960’s, and was conceived to weather this loss of the dollar international monetary financial system ($IMFS), which they clearly saw coming, using a revalued gold price to compensate for dollar-reserve assets. The theory is called FreeGold and was originally presented by a couple of anonymous posters (Another and Friend of Another FOA) in the late 90’s at the Kitco Forum, later migrating to the USAGold Forum, and presently kept alive in almost cult-like fashion by a guy posting as FOFOA since 2008. China supported the dollar for many years via Treasury purchases/recycling, and bought some time for the system, (likely a quid pro quo for entry into the WTO) but they have backed-off in the last few, and presently it appears that the Federal Reserve is keeping the game going for a spell, under the category of “Other” on the Treasury-purchase reports.

    I’m pretty convinced that the evolution of “monetary theory” is heading in the direction of separating-out one of elements in the fundamental definition of money (unit of account, means of exchange, store of value). Gold may well become the Store of Value after a reset. It will probably occur after a week-end conference and be presented to us as a “solution” on the Monday after. The top-line asset item on the ECB’s Financial Statement is gold and is marked-to-market. The FreeGolders think that when the smoke clears we’ll be in some sort of “meritocracy”, where the common man globally will be able to save and not suffer the vicissitudes of the coming floating-exchange rates between currencies. I see it as a straight-jacket, given the losses people will suffer, and the presumed current-dollar valuation of gold that will be required to seal-the-deal. It will be more like an Austrian-school nightmare for most people, as most people start over, from almost scratch, other than true possessions they’ve managed to hold on to.

    The game has been long and tedious; from FDR’s renege on US citizens, to Nixon’s overnight renege on the international scene, when DeGaulle and his finance minister Jacques Reuff decided to try and exit with gold versus holding dollars. The Families were behind both sides of that one, no doubt, as they advanced once again on the playing field. I wish I had the bandwidth to prove it.

    The only guy I see out there who has a different prescription, i.e. going back to what we know worked pretty well in the 1800’s to early 1900’s is Keith Weiner, a protégé of the late Antal Fekete. He may be tilting at windmills for all I know, and it might be flawed in some way, but we really do need realistic credit that is reliably extinguished by the productivity it enables, and we certainly need income from past savings when we get old. What we don’t need is this constant skim of inflation via monetary debasement that keeps us like hamsters on a wheel, feeding our energies into the Families’ pockets.

    I read The Pestilence of Usury (LaRouche) 40 years ago and revisit it from time to time. It’s pretty good, but the problem I see is that Surplus generated in any society must be shared on some basis, (but not determined by some Platonic Elite). We can readily see the negative effect that almost zero-interest on savings has had on savers, many of them elderly, just eking out an existence. How the distribution of Surplus is shared is a great social concern, but I think nominal interest is part of the equation. Picture it in the most micro sense where an old farmer with savings finances a young farmer with energy. The young farmer’s production is enabled, and the old farmer shares the surplus. That’s interest, whether in the monetary or physical plane. The MMT arguments are seductive and persuasive, so we should be very clear-thinking about where the sirens are calling us to go.

    I really enjoy reading your thoughts and share your outrage at the depredations suffered by people everywhere at the hands of an ancient enemy of mankind, and of the civil society we’re capable of attaining if we put our minds to the task. Peace be with you and yours.

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    1. Thanks for this long comment and your thoughts. You made a couple of very important points, will reply in length later today. I’ve compiled some very interesting bits about the ‘greek’ top heads in finance since the last crisis of 2008. They absolutely need to be published, at least here.

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  7. Hi Vexman – I went over to the RealCurrencies link and from a Miles perspective there’s way too many red flags on the People I Admire page. I then saw more red flags on a web search; including Henry Makow, Veterans Today, various flame-war Hitler blogs, etc. I think it’s a real rabbit-hole over there. As Mae Brussell (an agent herself) said once about LaRouche’s material – “80% top-drawer, 20% rat poison”. Guess it takes one to know one? Just sayin’

    One key thing to point out, is that the assertion of Catholic Europe’s anti-usury stance existing as stated, is easily refuted by such as https://www.catholicculture.org/culture/library/view.cfm?recnum=646

    A much deeper dive into the matter is the writing of Jewish authors themselves on their historical relationship to various Catholic aristocrats in the Middle Age. This information can be found in a 2,000+ page document assembled by a consortium of people who reviewed over 4,000 books authored by prominent Jews, containing over 10,000 quotes from those books. It is available online as “When Victims Rule”. There are various versions, some truncated, others with valuable introductions. It is written as an appeal to dialogue, not promote war with Jews.

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    1. Yes, I completely agree about RealCurrencies. I linked to the only piece there, penned without any red flags involved. The author made a comment here afterwards, probably after seeing my pingback link. I never replied, as that would drag me into a real mess just by association. Anyway, thank you for saying it out loud, I really appreciate caring about all the readers here.

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