Greece – Rescue without Debt
To the great dismay of much of the world, the Greek Parliament approved today – 23 July 2015 – the second or the third (depending who is counting) troika “bail out” of € 86 billion. This would increase the Greek debt according to my counting – mind you there are many different debt theories floating around – to about € 446 billion, or about 210% of GDP.
It’s getting worse by the day. Not one euro of that money would flow into the Greek treasury, to revive its economy, to rebuild the social and medical programs of the country that were totally dismantled and looted by international banksters. In fact, this insane amount of money serves only to restructure Greece’s debt according to modalities and a time frame still to be worked out (“negotiated”) between the criminal troika thugs and Greece until about 20 August. The new € 86 billion – like the hundreds of billions before are transferred from the European Central Bank (sic) to too-big-to-fail commercial banks and are being reshuffled between them – all creating monster profits for the banks from usurious interest rates. Even though interest rates are kept secret, they must be hovering in the areas of 5% – 7%, for sheer fiat money created by a mouse-click that costs nothing to anybody. That interest is compounded increasing the debt exponentially.
In fact, the entire Greek debt could also be eclipsed by another mouse-click. And nobody would be hurt. To the contrary – Greece could suddenly breathe again and start afresh revamping her economy and social safety net. It would even help clean up the banksters’ dirty balance sheets. Of course, the banks don’t care about that. They only care about the insane interest they receive from fiat money. – Maybe that is why the IMF is suddenly advocating debt release for Greece?
Greece could even stay in the EU, putting Washington’s concern about NATO on the back-burner – for a while. Though having gone through this horrific experience, there would be not much trust left by Greece in the EU and its institutions. Grexit would still be the preferred solution; starting on a new slate without the eye and mandate of the ECB-watchdog.
As it stands today, at least 30% of Greek citizens are not covered by health care. They cannot afford insurance, nor can they afford to pay out of their pockets for what’s left of privatized medical services. Child mortality is sky-rocketing. Nobody talks about it. The mainstream media don’t touch the subject.
