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Does The IMF Actually Want To Cause A Greek Debt Default?

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Question Marks - Public DomainWhen it comes to geopolitics, there are often wheels working within wheels that are working within wheels.  Once in a while we get a peek behind the scenes, but for the most part the machinations of the global elite remain shrouded in mystery most of the time.  And sometimes the global elite appear to be doing things that, on the surface, do not seem to make much sense at all.  What is going on in Europe is a perfect example of this.  If everyone was negotiating honestly, I believe that a Greek debt deal would have been reached by now.  As this endless crisis has stretched on month after month, it has become increasingly apparent that more is going on here than meets the eye.  In particular, the IMF has been standing in the way of a deal time after time.  So what do IMF officials want?  Are they looking for the “unconditional surrender” of this new Greek government in order to send a message to other governments that would potentially defy them?  Or could it be possible that the IMF actually wants a Greek debt default for some other insidious reason?

When the latest Greek proposal was embraced with enthusiasm by EU officials, many hoped that this meant that the crisis would soon be resolved.  But it turns out that there is still one very important player that is not happy, and that is the IMF.  The following comes from the Wall Street Journal

But the IMF is still unhappy with key aspects of Greece’s new economic proposals and German officials were irritated by the speed with which the commission welcomed them, warning that much work needs to be done.

Greece’s plan calls for reducing the deficits in its pension system and government budget by relying heavily on raising taxes and social-security contributions, whereas the IMF wanted bigger spending cuts.

The Washington-based IMF has said Greece’s economy is already too heavily taxed and that too many additional tax increases would hurt economic growth, making it harder to pay down Greece’s debt.

It is still short of everything that should be expected,” IMF Managing Director Christine Lagarde said Monday, suggesting Greece will have to modify its proposals significantly to win the IMF’s backing.

So what would make the IMF “happy”?

Would anything short of total capitulation by the Greek government suffice?

Meanwhile, members of Syriza are expressing a high level of frustration with the compromises that Greek Prime Minister Alexis Tsipras has already agreed to.  At this point, there is even doubt whether the current Greek proposal could get through the Greek parliament.  The following comes from Bloomberg

Greek Prime Minister Alexis Tsipras is facing the first signs of dissent within his own party over his latest plan to end a five-month standoff with creditors.

Some of Syriza’s more radical and populist lawmakers expressed opposition Tuesday to the proposal as the deal’s backers called on members to see the bigger picture.

Personally, I cannot support such an agreement that is contrary to our election promises,” Dimitris Kodelas, a Syriza lawmaker associated with former Maoists, said in an interview. “I do not care about the consequences of my decision.

Despite all of the optimism that we have seen this week, the odds of a Greek debt deal getting pushed through are looking slimmer by the day.

And even if a deal somehow miraculously happens, all it would really mean is that the can has been kicked down the road for a few more months

Assuming Tsipras can force the deal through the Greek parliament, and that key creditors such as the IMF and Germany accept it too, it will do little more than buy time for negotiations on yet another rescue.

The final tranche of cash from the existing bailout should be enough to meet repayments due to the IMF and European Central Bank through the end of August. But the Greek government will then have to find more than two billion euros for both institutions in September and October.

If this week concludes with agreement between Greece and its creditors, it won’t be long before the next chapter in this drama,” said Angus Campbell, senior analyst at FxPro.

And no matter what happens by the end of this month, it is a virtual certainty that the economic depression in Greece will just continue to deepen.

At this point, normal economic activity in the nation has pretty much ground to a halt.  Just consider the following excerpt from a recent Zero Hedge article

“Business-to-business payments have almost been paused,” one Athens businessman says. “They are just rolling over postdated cheques.”

For Greek banks, mortgage loans left unserviced by strategic defaulters have become a particular headache, especially since the Syriza-led government says it is committed to protecting low-income homeowners from foreclosures on their properties

“There’s a real issue of moral hazard . . . Around 70 percent of restructured mortgage loans aren’t being serviced because people think foreclosures will only be applied to big villa owners,” one banker said.

For a long time, I have been warning that the next major economic crisis would begin in Europe before spreading across the entire globe.

Greece has a relatively small economy, but Italy, Spain and France are going down the exact same road that Greece has gone.

And what IMF officials are doing right now is that they are setting a precedent for future debt negotiations that they know are almost certainly coming with other countries in the future.

Sadly, most of my readers (being Americans) don’t really grasp the importance of what is going on over in Europe.  We are watching a horrific train wreck unfold in slow-motion, and what is going to happen over the next few weeks is going to have massive implications for the entire planet.

  • robert

    “…what is going to happen over the next few weeks is going to have massive implications for the entire planet.”

    What are the implications please?

    • Guest

      The people of the world will join hands and start a love train.

    • Mike Smithy

      A derivatives meltdown for starters.

    • none

      That the FED created themoney out of thin air.
      Now they will make it disappear!

    • alan

      Lots more debt a few minor wars more stupid laws and a new Bruce Jenner show.

  • Mike Smithy

    Michael, I love a good conspiracy theory as much as the next guy. However, I cannot come up with a plausible explanation as to why the IMF would actually want Greece to default. In my humble opinion, the IMF is simply playing hardball and are looking for the unconditional surrender. The IMF knows that if they capitulate then Italy, Spain and Portugal are going to demand a better deal. The IMF believes that they have no choice but to remain resolute.

    • EgbertThrockmorton1

      Excellent points!

    • Outdoorsman47

      Its called the military industrial complex. The bankers need ww3 so they can finance it. It will be a domino effect, a slow motion train wreck as michael said. You see there is nothing like a war to rally the people around to make them forget about there economic distress. As micheal has said the banksters are in much worse shape now than they were in 2008. Think of the big picture and always remeber to follow the money.

    • John Byde

      You’ve nailed it. No biggie

  • K

    Michael, it is an either or situation. If Greece can be reduced to a slave state, with abject poverty. Then the IMF will be happy. Otherwise, they want them gone. In hopes they can impoverish them in other ways. And Greece is not the only Country, they have such things planned for. This has become less about money, and more about power. A truly impoverished Country can not really maintain, much of a military. For the one worlders, that is an ideal outcome. Weak Countries, that can not defend themselves. Is very easy pickins indeed. All these agreements that take power away from Countries. And give it to international committees and tribunals. Also is for the same reason. One world Government. This is really what this is all about.

  • GSOB

    Romans 1:32

    & 2:9

    15…..the requirements of the law are written on their hearts, their consciences also bearing witness, and their thoughts sometimes accusing them and at other times even defending them…..


    …..I will put my laws in their minds and write them on their hearts. I will be their God, and they will be my people….


    Romans 12:2

    & Mark 4:19

    & 2nd Peter 1:3 > 5

    3……seeing that His divine power has granted to us everything pertaining to life and godliness, through the true knowledge of Him who called us by His own glory and excellence.
    For by these He has granted to us His precious and magnificent promises, so that by them you may become partakers of the divine nature, having escaped the corruption that is in the world by lust.
    Now for this very reason also, applying all diligence, in your faith supply moral excellence, and in your moral excellence, knowledge,…

    • GSOB

      Christ in you… the hope of Glory!

      Colossians 1:26-29
      This mystery has been kept in the dark for a long time, but now it’s out in the open.

      God wanted everyone, not just Jews, to know this rich and glorious secret inside and out, regardless of their background, regardless of their religious standing.

      The mystery in a nutshell is just this: Christ is in you, so therefore you can look forward to sharing in God’s glory. It’s that simple.

      That is the substance of our Message.

      We preach Christ, warning people not to add to the Message.

      We teach in a spirit of profound common sense so that we can bring each person to maturity.

      To be mature is to be basic.


      No more, no less.

      • alan

        This really doesn’t have to do much with the economic collapse.

        • GSOB


          John 12:46


          1 John 5:20

      • Guest

        We get it….please stop preaching and stay on topic. This blog is about collapse not bible study.

        • GSOB

          I think you mean “you’ get it.
          Please start preaching if you are a Christian and stay on target.

          Connect the dots if you can.

    • Gay Veteran

      Polly want a cracker?

  • GSOB


    What shall we conclude then? Do we have any advantage? Not at all! For we have already made the charge that Jews and Gentiles alike are all under the power of sin. As it is written:


    But now apart from the law the righteousness of God has been made known, to which the Law and the Prophets testify. This righteousness is given through faith in Jesus Christ to all who believe.
    There is no difference between Jew and Gentile, for all have sinned and fall short of the glory of God, and all are justified freely by his grace through the redemption that came by Christ Jesus.
    God presented Christ as a sacrifice of atonement, through the shedding of his blood to be received by faith. He did this to demonstrate his righteousness, because in his forbearance he had left the sins committed beforehand unpunished—
    He did it to demonstrate his righteousness at the present time, so as to be just and the one who justifies those

    • GSOB

      Or is God the God of Jews only?
      Is He not the God of Gentiles too?
      Yes, of Gentiles too, since there is only one God, who will justify the circumcised by faith and the uncircumcised through that same faith.
      Do we, then, nullify the law by this faith?
      Not at all! Rather, we uphold the law. (Moral law)

      • df NJ

        The Jews are in a lot of trouble. Something tells me they way they’ve been treating their Arab brothers and sisters is not going to achieve any divine redemption for their diaspora existence any time soon. Absolution will not come from dividing people up into Gentiles versus Jews. The idea of a chosen people is the antithesis of a moral all powerful loving God.

        • RagingVoiceOfReason

          Arab “brothers and sisters”, huh? You mean the ones that, for 1400 years, have been taught by their religion from the time they’re born to hate Jews?

          • Gay Veteran

            you mean the European colonizers

          • His

            few times they did wrong they were not instructed by their religion. Muslims are told to do voilence, now go watch cnn mr. Ho,mo liberal.

          • Gay Veteran

            thank you for contributing to the discussion of a Greek debt default

        • GSOB

          John 6:70

    • alan

      I was always told jews were the chosen people and everyone else I guess are infidels. So after I heard that I stopped believing in god. However I realize the laws that built our country are religious based and law and order of our society comes from religion. I have come to terms with religion, well certain religion not having anything to do with Islam.

      • Gay Veteran

        “…I realize the laws that built our country are religious based and law and order of our society comes from religion….”


        • His

          “It is impossible to rightly govern the world without God and Bible.” George washington

          • Gay Veteran

            and I’m sure good old George used that Bible to justify his ownership of slaves

      • GSOB

        “God may be known by thought about his creative works (general revelation), His inspired Scripture (part of special revelation) and theological resumes of his nature and activity.

        Knowledge of God involves both objective, conceptual validity and subjective, personal fellowship.” –

        Then there’s that personal revelation God reveals to your inner man….

        2 Corinthians 4:6 &

        Philippians 3:12

  • Sandbagger

    Good news! Greece and Russia appear to have made a plan to run a pipeline through Greece. A win-win for both sides. Greece gets cash for allowing Russia to do this, and Russia doesn’t have to worry about Ukraine access anymore. (Wall Street Journal)

    I wonder how the IMF feels about that?

    • Mike Smithy

      Yes indeed. Putin is a grand master when it comes to geopolitical chess. The result of this Greco-Russian alliance makes the USA proxy war in Syria and Ukraine irrelevant. The western central bankster led initiative for the Qatar pipeline is a non-starter and it will be Russian natural gas supplying Europe in the foreseeable future.

      • df NJ

        Just assume NATO and the Americans will be a holes and keep building up your forces on the borders.

      • alan

        So ISIS troops will be discovered operating in Greece.

      • John Byde

        Putin’s also up against a teenage radical with no horse-sense: Obama

      • SunnyFlaSnotress

        It’s a drop in the bucket. The deal is worth 5Bil while the outstanding debt is over 100Bil.

        • Mike Smithy

          You need to think of the ramifications in the larger context. By Greece defaulting on it’s debt, they will owe nothing to it’s creditors. In addition, the Greco-Russian alliance means that they will not be economically and politically isolated after the sovereign default. As a result, the Greek people will get a new lease on life. However, I can only hope that they learned a valuable lesson in that a nation cannot borrow and spend it’s way to prosperity.

          • SunnyFlaSnotress

            Oh, I’m fine with them defaulting, but if you forgive someone/some country their debt, that doesn’t necessarily make them self-sustainable.

          • nekksys

            Correct, but it does allow them to self-reset and establish a new currency / economy with better foresight and sufficient outside support for defense while they rebuild.

    • piccadillybabe

      No wonder Greek Prime Minister Alexis Tsipras had such a **it-eating grin on his face as he exited from his limo the other day during a TV news cast. He looked like he hadn’t a care in the world. It’s possible he just got off the phone with Putin.

  • Paul

    New home sales surged to their highest level since February 2008. Also 280,000 jobs were added for May. Also the number of new unemployment claims is at historically low levels. Looks like America is in the middle of robust economic recovery. Also, I think this Greek crisis much to do about nothing.

    • Bill

      Exactly what you are programmed to think.

      • df NJ

        It may be 10 years before the economy collapses if its just a question of programming. As long as people are not rioting the economy is fine.

        • Bill

          Then why jade helm?

        • alan

          CNBC says its great, gold plated car in every drive way.

      • Paul

        The unemployment rate is down to 5.5% Cannot complain about that.

        • Bill

          Your right to believe it, my right not to.

        • A Friend

          The unemployment rate is not calculated in an honest way and is so modified that it can not be trusted to give any meaningful picture of the state of the health of the US economy. Please do not trust this number.

        • Gay Veteran

          if you believe that then you’re an absolute idiot.

          62.8%: Labor Force Participation Has Hovered Near 37-Year-Low for 11 Months

    • Gay Veteran

      how many of those 280,000 “jobs” are well paying?

  • Forgiveness!!!

    “There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” John

    Is enslaving Greece with debt not what the IMF is doing?

    • John??? Travolta??

      • df NJ

        John Adams. But here’s a John Travolta quote for you:

        “Playing a bad guy is always a freeing experience, because you don’t have the same envelope of restrictions as you have playing a good guy. Good guys restrain themselves; they kind of have their moral fiber cut out for them in varying degrees.”

        John Travolta

  • Bill

    No consensus. Just what TPTB want.

  • Nemnor

    Likewise, things will continue to get worse in the USA (and elsewhere) as long as the exploited masses are kept blind, and are not aware that – Capitalism itself, is the main root cause of the major issues facing the mass of exploited people.

    All those who continue to say – “Capitalism isn’t the problem”, will remain part of the problem, and just like in Egypt, much of their efforts will be in VAIN, as they all fail to see that the true enemy of the masses are the class of people (“the 1%”) that are economically and systematically exploiting “the 90%”.

    • Nemnor

      Capitalism is the “vehicle” the “1%” use to ride on the backs of the exploited “90%”.

      • Bill

        Almost right. “mis-use” not use!

      • True Grit

        $47 per hour for UAW workers. How is that exploitation?

        • Gay Veteran

          how much do the CEOs of the car manufacturers make?
          300x the average worker?

          • Truegrit

            Considering GM has 202,000 employees,
            I think I think its not that much. However, I believe in a Maximum wage.

            Still.. $47 per hour is exploitation?

            That is what the workers agreed to and 300x that is what the CEO agreed to.
            In truth GM is exploiting both of them

            Exploit – Make full use of and derive benefit from a resource. “Merriam Webster

          • Gay Veteran

            NO, they are not exploiting both of them. CEOs rule their companies for THEIR benefit, that is modern “capitalism”

          • True Grit

            NO, CEOs get fired by the share holders
            if they “rule” their companies into a loss.
            There is no modern capitalism. Just capitalism.
            In the U.S.A. today, inconvenient statutes are broken or changed to suit the elite greed barons. Consequences are never paid by those elite. You can call it modern. It’s criminalism or greedism The Government is supposed to address this but they are on the wrong side of it.

        • Nemnor

          Well… Capitalist exploitation is NOT about how much hourly pay you get, but rather how much of the VALUE of the labor/effort you put into a business, actually comes back to YOU (and in consideration of all reasonable expenses uncured in running the business during any given period).

          The Capitalist try to “justify” capitalist exploitation by arguing that they risk their Capital to create the business (to provide the means of production and/or distribution). And indeed private businesses even go bankrupt within the first 3 years of business with the Capitalist possibly losing some of their personal money.

          However, virtually all (big) businesses today are insured against loss, and it is usual for business failure to be written off as a “bad debt” at the bank – or even get ‘bailed out” with tax payers (Workers) money. And hence, the (smart) Capitalist almost NEVER really lose the personal capital they initially put into a new business (or, they NEVER put their personal capital into a business in the first place – as much of decadent Capitalism is running mainly on CREDIT for the last 4 decades or so).

          However, the successful Capitalist businesses that employ Workers could NOT become successful without the labor/efforts of the Workers. I posit that the the Workers should have at least the SAME intrinsic “right” to the profits (i.e. after ALL reasonable expenses are considered), as the Capitalist who “risk” their (personal) Capital to start the business.

          Now, even with businesses that make billions in profits every year, millions of low-wage Workers in the USA are getting around $10 per hour (more or less), and usually less, IF it is an “illegal” Immigrant Worker.

          • True Grit

            I see.. so your argument only holds water against huge multinational “corporations” that make “billions of dollars in profits every year” and use investor capital for start up.
            not the hundreds of thousands of small businesses where the owner uses his own money to start.
            I notice you never mention that workers willingly take the job offered by companies without expectation of a profit share. Just advancement.

            You also never mention that many companies give health care and paid vacations without government force.
            “NEVER really lose personal capital”
            Never is a big word Nemnor, I posit that there is risk in starting a business beyond capital risk. In this Capitalist system, anyone (including workers) can start a business and then they have an intrinsic right to the profits or losses.

    • Bill

      It is not capitalism. It is the the manipulation by a few bad apples.

    • Plextt .


    • SmallerGovNow2

      We don’t have capitalism. We have corporate fascism…

      • True Grit

        Fascism is government control of the economy and society for the good of the country and the people.
        It is much like capitalism except government (we the people) will not allow shameful levels of profit, Usury, Dangerous products etc. on the market because that is not good for the country or the people. Nor will it allow debauchery and filth to permeate and corrupt society through media. Fascism seeks to improve society and the economy for all
        while maintaining the country’s traditional culture. It is essentially Nationalism. All economic systems are subject to abuse by fool politicians and the evil-doers behind them. Fascism is a successful economic model that terrified international world bankers and was crushed
        along with National Socialism in WWII.

  • Catastrophic, more like (((Apocalyptic)))
    The very end of life as we know it.
    Hell on Earth is Coming.

    • df NJ

      I live in New Jersey. Nothing will change for me.

    • John Byde

      As I tell everyone around me: Watch Lichtenstein!

      • Kaspar_Goering

        Do you mean Liechtenstein?

        wikipedia. org/?title=Liechtenstein

  • watchmanonthetower

    I’ve set up enough dominoes over the years to know that it only takes one upset tile to destroy the entire arranged collection.

  • alan

    I read somewhere that a lot of the Greek bailout money is routed through Greece back into US banks. Sort of a backdoor round about bailout.
    I can’t figure out for the life of me why anyone would want to loan Greece more money unless there is something fishy going on.

    • df NJ

      If makes perfect sense. The Fed can keep printing money. If they forgive all the Greek debt the rest of the World will not suffer economic hardships. Tsipras should not agree to anything. Make the bankers sweat it out until they are willing to give Greece 100% forgiveness. Tsipras may be the most powerful man in the World. Of course, once this is settled he will surely be killed by the members of the IMF mafia.

      • alan

        I’m surprised they let him live this long.

    • europa3962

      Its more likely German and French banks, particularly Societ General and Deutsche Bank

  • Kaspar_Goering

    This whole Greece debt problem is just a facade for Conservatives around the world to disrespect a Democratic Republic’s attempt to address it’s citizens in an equitable way. Many of these “Austrian School” trained economists WANT a Greek default to somehow prove that Democratic Republics that have liberal social policies are failures. However, the truth is far from the fiction that these charlatans write on a daily basis.

    Greece could become a prosperous nation if it were released from the artificially imposed “austerity” that has been offered as the only solution.

    If Greece falls, look forward to the same thing happening in all of the worlds Liberal Democratic Republics. The Conservative Republicans are pushing for “reform” of America’s Social Security – which really means elimination of Social Security.

    • df NJ

      My problem is everything only concentrates on one half of the equation. It doesn’t matter what you pay in taxes. What does matter is the purchasing power of your take home pay. If people are not making high enough wages to pay for basic necessities who’s fault is that? I get it that if things are too easy people will not work as hard. But these effing a holes depress wages even when productivity is soaring. It’s completely unfair and completely unbalanced. Now we have the greatest Wealth Inequality in our country’s history. But as long as people are not rioting nothing will happen. If they eliminate Social Security we will surely see riots. All these conservative cuts lead to a death spiral in economic activity. You can speak about the intellectual purity of libertarianism but where the rubber meets the road of the economy government hiring and spending is essential for jump starting growth, jobs, and wages in the private sector. What gets me is if the CEOs raised wages most people below the median workers wage give all their money right back to the corporations. It’s not like the CEOs do not get that money right back!

      • Kaspar_Goering

        That is why Labor Unions are so important. The only way that the disparity in wealth in America can be addressed is if Labor Unions are powerful enough to protect the working class.

        • allen osborne

          Greed never protects the average person. They are a drag on the average person and raise prices beyond fairness ! This is part of the Greek tragedy.

          • Kaspar_Goering

            quote: Greed never protects the average person.

            That is why Labor Unions are so important. They reign in the greed of corporations to benefit the labors who are responsible for their profits in the first place.

            Greece is being bullied by the rest of Europe. It is the “Austrian Schooled” economists who are plotting Greece’s fall to “prove” that Liberal Democratic Republics are failures.

    • John Byde

      Kaspar, many of us conservatives want Greece and its people back on their feet – and for it to destroy the EU.

      • Kaspar_Goering

        If you are a Conservative then I know that what the IMF want’s for Greece is what YOUS GUYS want for America.

        • Mike Smithy

          You obviously know nothing about Conservatism. Conservatives believe in balanced budgets, smaller government, less taxes, real money, rights of the individual, the rule of law, hard work, borders, language and culture.

          • Kaspar_Goering

            Conservatives believe in a lot of things – like supply side “trickle down” economics and fairy tales written down by desert dwelling goat herders.

            And, of course, the Conservative George “W” really showed his “conservative values” by creating huge budget deficits through illegal wars and removing the rights of American citizens in the name of “national security.”

            But what Conservatives REALLY believe is that you need to give tax cuts to millionaires and billionaires to help the so called “job creators” at the cost of the rest of America. And all that this policy has done is enrich the wealthy elites at the COST of the rest of America.

          • Neil

            There are conservatives, and there are “conservatives”. Conservatives are as Smithy described. “Conservatives” are the George W. types, who cloak themselves with the label and talk the talk, and with the help of the so-called “liberal” media which portrays them as conservative, are thus able to get the votes of the conservatives.

          • Kaspar_Goering

            There is no such thing as a “liberal” media. The freedom of the press and journalism are “liberal” ideas to begin with. While you may feel “fooled” into voting for Mr “W” you did vote for him anyway. Because “W” WAS the “conservative” Republican.

            If you want to get “more Conservative” then you would have to vote for someone more like this guy:

            youtube. com/watch?feature=player_detailpage&v=Ilyov2yGsyk

          • Mike Smithy

            By all accounts, Keynesian demand side economics as embraced by Progressives has been an abysmal failure under President Zero’s reign of terror. George W. Bush is not a Conservative and only played lip service to the Conservative ideology. It was bad enough that he added $4 trillion to the national debt. However, this number pales in comparison to President Zero adding another $9 trillion to the national debt. Lastly, I have never been employed by a person that was poorer than me. Conservatives believe in fundamental fairness and equality of opportunity not equality of results.

          • Kaspar_Goering

            Keynesian demand side economics was actually a creation of conservative economists during the latter 19th through the early 20th century. Actually it’s really hard to pin down the dichotomy between “conservative” and “liberal” when it comes to early 20th century policies due to the fundamental change these concepts have had since that time. In view of recent “conservative” revisionists histories being “sold” around the intellectual world what was considered “liberal” in the late 1800’s could be considered “conservative” by today’s standards.

            What really has enriched the wealthy elites in America has always been the labor of the working class. It has been the theft of the surplus value of labor that has really enriched the wealthy. What is most ironic about your claim of Mr Obama’s policies of enriching the 1% is the fact that these 1% have been enriched the most under LIBERAL DEMOCRATIC POLICIES. What you have ultimately admitted is that the policies of Democrats are actually better for the wealthy than the so-called “conservative” policies of tax cuts. If it really were the wealthy class that “created” jobs then there should be jobs everywhere.

            The fact is Keynesian economic theory address the REAL creators of wealth – i.e. the mass of the working population spending their money is what creates the economy – not the well being of rich elites.

          • Mike Smithy

            Certainly a strong middle class is the essential in sustaining a healthy and vibrant economy. However, you must be intellectually honest in asking how Democrat and RINO policies pursuant to unbridled illegal immigration is in the best interest of working class Americans? How are President Zero’s tax increases on the middle class improving the lives of these working class Americans? How have the policies of quantitative easing leading to ZIRP helped elderly Americans who are risk averse, improve their standard of living? How have President Zero’s draconian capital gain tax increases on business helped to foster economic job growth in the USA? As a result, what incentives has Zero established for the 1% to repatriate their vast financial resources to the USA? How is it fair to subsequent generations to be bridled with an additional $12 trillion in debt which has occurred over the past 15 years fair and equitable?

          • Kaspar_Goering

            It is the intellectual dishonesty of the propagandists that have clouded YOUR mind. America is NOT 12 trillion dollars in debt. That number comes from the Libertarian “Austrian School” types who lump in all of Social Securities foreseeable liabilities to make the debt seem much larger than what it really is. More than half of that “Liability” is future earnings of the workers who actually fund Social Security.

            Mr. Obama has NOT raised taxes on the middle class workers. That is if you consider someone who makes more than $250,000.00 a year “middle class.”

            Zero interest rates are the result of the failure of Capitalism. It is the capitalists who are failing the rest of America by withholding their “investments” because of the tax cuts of Reagan and the “W”. Why risk your money to make money when all you have to do now is “kick back” and take the tax cut? Tax cuts on the wealthy do NOTHING for an economy. It is the spending power of the mass of individual citizens that create an economy.

            Future generation do get some responsibility to pay a certain amount of debt. Just like the generation of workers after WW2 had to pay the debt of that war. But look at what we have left them? A vast infrastructure of roads and bridges as well as facilities to educate our grandchildren to become productive citizens as well.

          • allen osborne

            Well said Mike. Those are hard goals to reach in this world of rip offs and deceit in high places. Yet, they are worthy goals !

  • chilller

    Greece needs to have talks with Iceland and follow their successful model. They gave the banisters the boot, continue to jail them and it’s worked out just fine…grow a spine EU countries and free yourselves from the grip of the evil and corrupt bankers!

    • df NJ

      Iceland is amazing. I love the fallacious argument they only had 300,000 mortgages so it can’t work anywhere else. Just amazing.

  • krinks

    I would like someone to explain to me why it is that it is better for a nation to be raped economically than default, nationalize all assets, and start again. The Lord himself set up a year of Jubilee every 7 years that did exactly that.

    • df NJ

      Iceland did the Jubilee after the their bank failures and everything is just fine. The country is stable and prospering. You would never have a Jubilee in America because people would hate it to see their neighbor get any breaks. People in this country want to see their neighbor’s suffer. It’s the American way. There are two popular board games in the World named Monopoly and Settlers of Catan. Both are very similar. But with the American one you crush your neighbor into poverty. In the European one everyone cooperates to build and expand the culture. The win condition in Settlers of Catan is the player with the richest culture. It’s just amazing how America is built on every man is out for himself screw your neighbor before he screws you. I get the whole self-reliance John Wayne beef for dinner attitude. Meanwhile, the communist Chinese are kicking our butts economically.

      • krinks

        The Iceland thing I understand but the rest is drivel. The only thing socialism breeds is group failure. If people aren’t allowed to excel because the fruits of their labors will be given to he that can’t or won’t produce he will stop excelling. This leaves no one to hire you or me.
        Think of it this way. If a classroom started giving everyone the same grade averaged out from the total production regardless of who showed up and worked and who didn’t, those at the top of the class would stop producing, and half the class would never show up again. This is true and you know it. This is why Cuba still drives cars from the 1950s (before communism) and the official auto of the former Soviet Union was garbage.

        • Drud

          How the hell did you get to Socialism from his comment. He was speaking of CULTURE. Socialism is a form of GOVERNMENT. The two are NOT the same thing. That American do not know that is why we are so screwed up. Also, you have the mistaken idea that competition and cooperation are mutually exclusive. Also, very American and another reason we are doomed. Larry Ellison CEO of Oracle, is a perfect example of this sickness his creed in life is a quote from, I am not making this up, Genghis Khan:

          It is not enough that I succeed, everyone else must fail.

          This is America and we are headed for the greatest fall in history.

          • krinks

            A BIG PART of the European Culture is Socialism.

          • alan

            I was going to say socialism is the culture now.

  • df NJ

    If Americans wake up and finally stop accepting the never ending national debt slavery conditions created by a private fractional reserve banking system we will see war, blood, death, and occupation on our soil. Maybe even nuclear strikes.

    • Forgiveness!!!

      Not to seem like a monster! But nuclear war would be fücking awesome!

  • 23tony

    “I do not care about the consequences of my decision.”

    about says it all…

  • Avner

    Lets get this party started already. Seriously. The sheeple need to be smacked in the face a few times and trying to talk and wake them up isn’t doing it.

  • Antonio Ossa


  • vergeetalles

    US has not paid his contribution to the IMF for two years. China did for the first time this year. In the SDR basket there are no more dollars, but here are RMB in it now. How to make the US and NATO weaker? To let the euro, the western banking system and the EU go bankrupt. With Greece going bankrupt the TARGET2 will be a mess.

  • alan

    The IMF is probably trying to instigate trouble in Greece to get a banker approved leader in office. Then party likes its 1929.

  • chris

    The financial elite want Greece to be the trigger for a massive collapse. This will be a cover for their failed policies of the last 7 years and enable them to make a killing by buying back in at the low point or using the collapse as an excuse to scrap the present system completely and bringing in their preferred ‘solution’.

  • CharlesH

    The IMF is at the tippy top of the trash heap and whatever decision they make will be ONLY in their interests – not Greece’s, not Germany or other members of the EU. This is all about the power of the IMF and it’s will and decrees will NOT be questioned or trifled with. Greece is pushing a finger into the chest of the almighty IMF and that will not be tolerated – consequences be damned.

  • grumpyhillbilly

    My guess is the elite hope to create a crisis in hopes trapping Putin, and maybe China. It seems like they have their government agents working overtime to destabilize multiple countries. As for theChinese and Russia, they are two major impediments to this super duper global state. One is loaded with resources, while the other was given industrial might. Both countries have a storied history that seems to bring a nationalist pride. Compare that to the west where the opposite is true. Plus they are the ones sitting on the “heartland”.


    You seem to think it’s bad to let Greece default. It is bad, but it’s the least bad option of many bad options. It is against Eurozone rules for the ECB and these other lenders to be financing government deficits. Greece is insisting on keeping their public pension system as is, and they haven’t made real concessions. The new taxes they proposed this week weren’t enough.
    The real parallel to United States interests would be in municipal budgets. Detroit is already going through it, and Chicago is not far behind. They (and we, when it comes to Social Security) are going to have to reform pension plans. People are living too long, and you can’t have retirements based on pensions in which someone is retired longer than they worked for the employer.

  • landofaahs CIAmAPatriot2

    Answer: Absolutely yes. They want all countries to collapse eventually for world take over and control. It’s out in the open now and I guess it proves that the best way to hide something is in open view.

  • horse777res

    Hey Michael! the so called global elite as you refer to them, will have there day at THE JUDGEMENT SEAT OF GOD to account for every devious act that they perpetrated on the peoples of the world. “For the sun rises with its scorching heat and withers the grass, its flowers falls and its beauty perishes. So also will be the rich man fade away in the midst of his pursuits”. James 1:11 also “But woe to you who are rich, for you have received your consolation”. Luke 6:24″.

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