Category Archives: Euro

Greece: Burning Banks

Here a wee vid showing “The worst riot damage in years has struck Greek cities as MPs pass harsh new austerity measures. Amateur video shows violent protests in central Volos, where a branch of one of Greece’s largest banks – Eurobank – was torched.”. (2012-05-13)

I was particularly impressed with some of the comments:

  • “one day all the banks all over the world will be on fire :)”
  • “Let the temples of the money-changers burn! Let the cradle of democracry become the grave of usury.”
  • “MESSAGE TO THE 99%. Let the globalisation of bank-burning commence!! They want a new world order, let’s fucking give them 1!!!!!”
  • “They got the money out first right?”

Video from:


Iceland: How The People Defeated The E.U. And Bankers


In Iceland, the people has made the government resign, the primary banks have been nationalized, it was decided to not pay the debt that these created with Great Britain and Holland due to their bad financial politics and a public assembly has been created to rewrite the constitution.

And all of this in a peaceful way. A whole revolution against the powers that have created the current global crisis. This is why there hasn’t been any publicity during the last two years: What would happen if the rest of the EU citizens took this as an example?


  • 2008. The main bank of the country is nationalized. The Krona, the currency of Iceland devalues and the stock market stops. The country is in bankruptcy
  • 2008. The citizens protest in front of parliament and manage to get new elections that make the resignation of the prime minister and his whole government. The country is in bad economic situation. A law proposes paying back the debt to Great Britain and Holland through the payment of 3,500 million euros, which will be paid by the people of Iceland monthly during the next 15 years, with a 5.5% interest.
  • 2010. The people go out in the streets and demand a referendum. In January 2010 the president denies the approval and announces a popular meeting. In March the referendum and the denial of payment is voted in by 93%. Meanwhile the government has initiated an investigation to bring to justice those responsible for the crisis, and many high level executives and bankers are arrested. The Interpol dictates an order that make all the implicated parties leave the country.

In this crisis an assembly is elected to rewrite a new Constitution which can include the lessons learned from this, and which will substitute the current one (a copy of the Danish Constitution).

25 citizens are chosen, with no political affiliation, out of the 522 candidates. For candidacy all that was needed was to be an adult and have the support of 30 people. The constitutional assembly starts in February of 2011 to present the ‘carta magna’ from the recommendations given by the different assemblies happening throughout the country. It must be approved by the current Parliament and by the one constituted through the next legislative elections.

So in summary of the Icelandic revolution:

  • resignation of the whole government
  • nationalization of the bank.
  • referendum so that the people can decide over the economic decisions.
  • incarcerating the responsible parties
  • rewriting of the constitution by its people

Have we been informed of this through the media? Has any political program in radio or TV commented on this?


The Icelandic people have been able to show that there is a way to beat the system and has given a democracy lesson to the world.


Greece’s new cashless currency

A bit of good news.




Greece develops cashless, Euro-free currency in tight economy

A determination to ‘move beyond anger to creativity’ is driving a strong barter economy in some places

In recent weeks, Theodoros Mavridis has bought fresh eggs, tsipourou (the local brandy: beware), fruit, olives, olive oil, jam, and soap. He has also had some legal advice, and enjoyed the services of an accountant to help fill in his tax return.

None of it has cost him a euro, because he had previously done a spot of electrical work – repairing a TV, sorting out a dodgy light – for some of the 800-odd members of a fast-growing exchange network in the port town of Volos, midway between Athens and Thessaloniki.

In return for his expert labour, Mavridis received a number of Local Alternative Units (known as tems in Greek) in his online network account. In return for the eggs, olive oil, tax advice and the rest, he transferred tems into other people’s accounts.

“It’s an easier, more direct way of exchanging goods and services,” said Bernhardt Koppold, a German-born homeopathist and acupuncturist in Volos who is an active member of the network. “It’s also a way of showing practical solidarity – of building relationships.” …

Tems has been up and running for barely 18 months, said Maria Choupis, one of its founder members. Prompted by ever more swingeing salary cuts and tax increases, she reckons there are now around 15 such networks active around Greece, and more planned. “They are as much social structures as economic ones,” she said. “They foster intimacy and mutual support.” …

The Greek parliament recently passed a law encouraging “alternative forms of entrepreneurship and local development”, including exchange networks such as Volos’s, giving them official non-profit status for tax purposes.

Choupis said there was a new mood abroad in Greece, a determination to “move beyond anger to creativity”.

“You are not poor when you have no money,” she said, “you are poor when you have nothing to offer – except for the elderly and the sick, to whom we should all be offering.”

by Jon Henley in Volos,

See also: “Modern Greeks Return To Ancient System Of Barter”


IMF by Deek Jackson

In under 1 minute.



Queen Victoria would feel at home in our times

I suppose the Bankers will ticking off another box as ‘completed’ on their list of achievements.

Is this the 21 century?
Is this the ‘western world?
Is this a ‘white’ country?
Is this the Europe our ancestors died for?
Is this the EU our ‘leaders’ wants us to have?

Probably wont be long before workhouses are built (with tax money)?



Children ‘dumped in streets by Greek parents who can’t afford to look after them any more’

  • Youngsters abandoned as parents struggle
  • 4-year-old found clutching note: ‘I can’t afford her’
  • Country also running out of medicine
  • Aspirin stocks low as austerity measures bite

By Lee Moran, Last updated at 7:05 PM on 11th January 2012

Children are being abandoned on Greece’s streets by their poverty-stricken families who cannot afford to look after them any more.

Youngsters are being dumped by their parents who are struggling to make ends meet in what is fast becoming the most tragic human consequence of the Euro crisis.

It comes as pharmacists revealed the country had almost run out of aspirin, as multi-billion euro austerity measures filter their way through society.

Athens’ Ark of the World youth centre said four children, including a newborn baby, had been left on its doorstep in recent months.

One mother, it said, ran away after handing over her two-year-old daughter Natasha.

Four-year-old Anna was found by a teacher clutching a note that read: ‘I will not be coming to pick up Anna today because I cannot afford to look after her. Please take good care of her. Sorry.’

And another desperate mother, Maria, was forced to give up her eight-year-old daughter Anastasia after losing her job.

She looked for work for more than a  year, having to leave her child at home for hours at a time, and lived off food handouts from the local church.

She said: ‘Every night I cry alone at home, but what can I do? It hurt my heart, but I didn’t have a choice.’ She now works in a cafe but only make £16 per day and so cannot afford to take her daughter back.

Centre founder Fr Antonios Papanikolaou told the Mirror: ‘Over the last year we’ve had hundreds of parents who want to leave their children with us. They know us and trust us.

‘They say they do not have any money or shelter or food for their kids, so they hope we might be able to provide them with what they need.’

Further evidence of Greeks feeling the pinch of austerity measures is the lack of aspirin and other medicines now available in the country.

Pharmacists are struggling to stock their shelves as the Greek government, which sets the prices for drugs, keeps them artificially low.

This means that firms are turning to sell the drugs outside of the country for a higher price – leading to stock depletion for Greeks.

Mina Mavrou, who runs one of the country’s 12,000 pharmacies, said she spent hours each day pleading with drug makers, wholesalers and colleagues to hunt down medicines for clients.

And she said that even when drugs were available, pharmacists often must foot the bill up front, or patients simply do without.

Meanwhile, talks about private sector creditors paying for part of a second Greek bailout are going badly, senior European bankers said tonight.

That raises the prospect that euro zone governments will have to increase their contribution to the aid package.

‘Governments are mulling an increase of their share of the burden,’ said one banker, while another said ‘Nothing is decided yet, but the bigger the imposed haircut the less appetite there is for voluntary conversion.’   

A third senior banker told Associated Press: ‘Private sector involvement is going badly.’   

There are suggestions in euro zone government circles that ministers are coming to the realisation they may need to bolster Greece’s planned second bailout worth 130 billion euros if the voluntary bond swap scheme, which is a key part of the overall package, falls short of expectations.

Stumping up yet more money would be politically difficult in Germany and other countries in the northern part of the currency bloc.


Old Holborn: Government Bonds and the EU

Am I getting older and more right-wing? Or am I becoming more knowledgeable and appropriately piss-off?

From (with thanks):

Emphasis in red are mine.

Squeezing the Lemons

This week saw the European Central Bank suddenly “create” half a trillion Euros in order to lend to cash strapped banks, so that they could, in turn, lend money to us and businesses. It hasn’t solved anything because the European Central Bank will be lucky to get it back and the market knows this, but also, the Politicians are demanding that the banks now buy Government bonds with the money they have just been lent. Lets break that down again so you can see how the scam actually works.

A Government bond is what a State issues when it can’t fleece it’s citizens with enough taxes to cover the bills. It’s a promise to pay back based on future tax revenues, a huge IOU placed upon the citizens of the country that hopefully, they will work hard enough for the State to be able to borrow in their name, based upon their future labour. So the ECB created from nothing, a large pile of money that doesn’t exist and has lent this imaginary money to the banks to lend to you at a profit, whilst it is backed by the future labour of your children. When this money hits your account, it is very real but you are the only one who is going to be paying interest on it. The banks will get rich, the European Central Bank will earn a tidy sum, and one day, your kids will have to work to pay it back as well. Got that? Excellent, now we’re getting somewhere.

Greece has decided, in order to cover the debts of the bonds it has issued and cannot repay, that a special property tax of up to €20 per square metre will now be imposed on the citizens. If you own a house that uses electricity, a little extra will be tagged on to your leccy bill, to be handed straight to the bankers. And here’s the catch; don’t pay and the state owned electricity company will come round and disconnect your power. Ironically, the very same State that owes the electricity company around £140M in unpaid electricity bills. Very possibly the finest argument for the privatisation of utilities you will find anywhere. When the state can extort funds at this level, no one is safe. It can raid your wage packet, slap 20% on everything you buy in the shops and now cut off your electric if you don’t hand over that little bit more, Luigi. Or you sleep with da fishes, eh?

Naturally, the Greeks are not taking to this mafia enterprise lightly. Already on their knees, groups of electricians are vowing to boycott disconnections or simply reconnect those who refuse to pay and rumours of a new water tax are rife. In effect, the Government of Greece has sold and squandered the future labour of its citizens and is now systematically extracting what little wealth the private citizen has left – the very roof over their heads. Interesting times indeed.

Meanwhile, in the background, the EU prints off more money to lend to people who cannot afford it and can never repay it, in order to keep the wheels of the State turning, regardless of the consequences to the hard pressed citizen. 2012 may yet turn out to be the straw that breaks the camels back when the EU finally runs of out of imaginary money to lend to banks too big to fail. When that happens, the house of cards, built by decades of Politicians promises on sand, will collapse very quickly indeed, along with the massive centralised States it has created. At the height of the Great Depression in the ’30’s, the US had unemployment of 25% and Spain is already at 20% with a default in 2012 likely.

If I were you, dear reader, I would start slowly thinking about your own, personal plan B, just as the Greek citizens are. Plan for the worst, hope for the best and keep crossing your fingers that no one ever picks up the can that is continuously kicked down the road by our Politicians, because when they do, you will see things with your own eyes that our Grandchildren will be taught about in history books.

On that happy note, enjoy your Christmas and try to stay off the stuffing. I fear there’ll be more than enough of that to go around in 2012.


European Stability Mechanism (ESM): A Treaty of Debt

It’s obviously unLawful.

Thanks to:

This is a shocker!

As always most people will not even have heard of the European Stability Mechanism or ESM, but you should make a point of watching the short clip below. It explains that the ESM will be completely immune from any legal, administrative or Govermental challeges. It will be able to up the fund from seven hundred billion Euros to whatever figure they pick out of thin air. Every signatory to the treaty MUST pay funds into the ESM within seven days upon demand! It gets worse, just watch the clip and please, as always, feel free to comment. Say bye bye to Sovereignty! “



The gathering storm

I don’t always agree with everything Pat Condell has to say. Not even everything in this vid. He does some very important points though. Make your own minds up.



Riots if euro fails, Britain warns

I believe that the financial system should die before it can be reborn. Of course, millions will die.


Emphasis in red are mine.

” Embassies told to make contingency plans for expatriates
November 26, 2011

British embassies in the eurozone have been told to draw up plans to help British expatriates through the collapse of the single currency, amid renewed fears for Italy and Spain.

As the Italian government struggled to borrow and Spain considered seeking an international bailout, British ministers privately warned that the breakup of the euro, once almost unthinkable, is now increasingly plausible.

Diplomats are preparing to help Britons abroad through a banking collapse and even riots arising from the crisis.

The Treasury confirmed this month that contingency planning for a collapse was under way, and a senior minister has now disclosed the extent of the government’s concern, saying Britain is planning on the basis that a euro collapse is just a matter of time.

“It’s in our interests that they keep playing for time because that gives us more time to prepare,” the minister told The Daily Telegraph.

Foreign and Commonwealth Office instructions to embassies and consulates request contingency planning for a currency collapse that could leave Britons unable to access bank accounts or even withdraw cash, and facing scenarios such as rioting and social unrest.

Greece has seen outbreaks of civil disorder as it struggles with huge debts.

British officials say similar scenes cannot be ruled out in other nations if the euro collapses.

The EU treaties that created the euro contain no provision for members to leave. If eurozone governments defaulted on debts, European banks that held their bonds face collapse. Some analysts say such an event would risk the collapse of the entire financial system, leaving banks unable to return money to retail depositors and destroying companies dependent on bank credit. ”


Euro Crisis – Debt By Design

Another nail in my coffin.


” The debt crisis in Greece and Italy presents itself as an opportunity for the Global Elite to gain an even tighter grip on the economies of every country within the European Union. The crisis is by design and their goal is for an eventual one world currency. In the face of these troubling times national sovereignty will be under attack as the international banksters attempt to consolidate their power. ”

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