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Greece Hires Goldman Sachs, Rothschild to Help Economy

Greece Hires Goldman Sachs, Rothschild to Help Economy

by Anthony Gucciardi
June 30th, 2013
Updated 06/30/2013 at 6:12 pm
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Who better to help Greece escape financial turmoil than Wall Street mafia head Goldman Sachs and the international banking elite family known as the Rothschilds?

According to an official statement as reported by Reuters, Greece’s bank rescue fund has turned to the banking mafia duo in order to sell off two Greek banks (Proton and Hellenic Postbank) that were all but decimated by the economic turmoil in the nation. And who better to help sell these banks and help Greece to get back to a stable economic than Goldman Sachs, who actually was very helpful in helping to wage financial warfare on the Greek people through hiding Greece’s slimy debt.

But that, of course, is just seasoning on top of the ironic yet horrific dish cooked up by this rescue fund in choosing the very origin of the modern banking mafia through turning to the notorious Rothschild family. From funding mega wars to originally making their massive wealth through outright deception following the Battle of Waterloo, electing any Rothschild to act as a Greek adviser is a choice that goes against the interests of the Greek people.

But then again, that is the way of the international banking cartel.


As we saw with the Cyprus incident, the wealthy bankers and connected corporate moguls pulled their voluminous amounts of cash from their accounts within the nation before the government went in and took finances from the savings of the people in order to pay for the country’s mega bailout. Even Cyprus President Nikos Anastasiadis was found to be on the list of individuals who withdrew their finances before the government-backed theft began.

According to Reuters on the partnership between the Greek bank rescue fund and the corrupt banking tag team Goldman and Rothschild in an article that has received virtually zero attention:

“Greece’s bank rescue fund has hired Rothschild and Goldman Sachs as advisers on the sale of lenders Proton and Hellenic Postbank (TT), which are most likely to be bought by bigger Greek banks, officials told Reuters on Friday.”
 

justoffal

Senator
Oh that's just great....

The once proud Empire will now be reduced to a nation of serfs......

These are the old families that pretty much own everything and are literally trillionaires. They will now show the greek bankers how to more throughly fleece the already overtaxed and underpaid populace....... " Hey don't bury that corpse....we can still get something for the hair and the skin! "

JO
 
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fairsheet

Senator
Oh that's just great....

The once proud Empire will now be reduced to a nation of serfs......

These are the old families that pretty much own everything and are literally trillionaires. They will now show the greek bankers how to more throughly fleece the already overtaxed and underpaid populace....... " Hey don't bury that corpse....we can still get something for the hair and the skin! "

JO

Overtaxed? Maybe not. Greece has the lowest tax compliance rate in the western capitalist world - somewhat south of 50%. They elected leadership a little while back, that promised to lead them out of their economic malaise. These leaders had a rather curious,radical, and bizarre plan. They would do it all by raising tax compliance to around 60%. No new taxes. No severe austerity. Just trim back on tax avoidance by a piddling 20%. And surprisingly, per the math, the scheme actually made sense.

Alas......the Greeks had a shit fit. It seems the Greeks'll put up with a lot. But...paying one dime more of what they actually OWE?...that's going too far.
 
Overtaxed? Maybe not. Greece has the lowest tax compliance rate in the western capitalist world - somewhat south of 50%. They elected leadership a little while back, that promised to lead them out of their economic malaise. These leaders had a rather curious,radical, and bizarre plan. They would do it all by raising tax compliance to around 60%. No new taxes. No severe austerity. Just trim back on tax avoidance by a piddling 20%. And surprisingly, per the math, the scheme actually made sense.

Alas......the Greeks had a shit fit. It seems the Greeks'll put up with a lot. But...paying one dime more of what they actually OWE?...that's going too far.
Why would anyone expect anything different? They're Greeks not good little Germans. The day Greece becomes Germany is the day Zorba turns over in his grave.
 

fairsheet

Senator
Why would anyone expect anything different? They're Greeks not good little Germans. The day Greece becomes Germany is the day Zorba turns over in his grave.

You probably should've said "good little Americans" as opposed to "good little Germans", as our compliance rate (83.1%) is considerably higher than theirs (67.72%).

Nervertheless, there's probably a bigger contrast between Germany and Greece - in all sorts of ways, than between any two other Euros.
 
Granted but the problem in Greece is with the Euro, nothing else. The Euro is designed to benefit exporting nations. Any of the nations in the pact that are net importers have absolutely no place to go to get the money they need to buy the imports. So, the borrow them from banks like Goldman. If I could be POTUS for one day, I would spend the entire day on aggregate demand. I would make it the core principle in every single speech, teach it to every kid until they knew it like a prayer and drum it into every policy maker. The economy can only grow if we export more than we import OR we make demand out of thin air. The idle rich are now so rich that what they decide to loan out is mice nuts compared to what we need to overcome this lack of demand. The government is the only entity that can create demand out of thin air by spending money. The rest of us are fighting over crumbs in a zero sum game without more exports or more money flowing into the system. Greece cannot print more money. They cannot devalue their money. They have nothing really to export but vacations and title to their precious land. How exactly are they going to repay their loans? By selling off everything? That is exactly what the Shock Doctrine proved. Loan country X more than it can repay and then come back and buy it up cheap.
 

fairsheet

Senator
Granted but the problem in Greece is with the Euro, nothing else. The Euro is designed to benefit exporting nations. Any of the nations in the pact that are net importers have absolutely no place to go to get the money they need to buy the imports. So, the borrow them from banks like Goldman. If I could be POTUS for one day, I would spend the entire day on aggregate demand. I would make it the core principle in every single speech, teach it to every kid until they knew it like a prayer and drum it into every policy maker. The economy can only grow if we export more than we import OR we make demand out of thin air. The idle rich are now so rich that what they decide to loan out is mice nuts compared to what we need to overcome this lack of demand. The government is the only entity that can create demand out of thin air by spending money. The rest of us are fighting over crumbs in a zero sum game without more exports or more money flowing into the system. Greece cannot print more money. They cannot devalue their money. They have nothing really to export but vacations and title to their precious land. How exactly are they going to repay their loans? By selling off everything? That is exactly what the Shock Doctrine proved. Loan country X more than it can repay and then come back and buy it up cheap.

I have a non-rhetorical question for you for which I don't have the answer....You say that Greece's problem is the Euro. You're not the first to say that and frankly, it makes good sense to me.

Why then, don't the Greeks get the hell out of the Eurozone?
 
I have a non-rhetorical question for you for which I don't have the answer....You say that Greece's problem is the Euro. You're not the first to say that and frankly, it makes good sense to me.

Why then, don't the Greeks get the hell out of the Eurozone?
From what I gather, they wrestled with that very question in the last election. Big money scared the people into staying in the euro. Imagine what would happen if they went back to the drachma. First of all, they would have to default on their loans in euro backed contracts. That would precipitate the Italians and banksters who loaned them the money along with all kinds of other nations to write off billions. I guess you could say so what but it would set a precedent that Merkel would not like. Second, the drachma would be worth very little in exchange value. Greeks would be paying a lot to import anything including oil and energy. Lastly, they would have to pass a law forbidding sales of property to foreigners or Murdoch or Adelson would just buy up Santorini or Mykonos. Personally, I think they will end up leaving the eruo myself.
 

fairsheet

Senator
From what I gather, they wrestled with that very question in the last election. Big money scared the people into staying in the euro. Imagine what would happen if they went back to the drachma. First of all, they would have to default on their loans in euro backed contracts. That would precipitate the Italians and banksters who loaned them the money along with all kinds of other nations to write off billions. I guess you could say so what but it would set a precedent that Merkel would not like. Second, the drachma would be worth very little in exchange value. Greeks would be paying a lot to import anything including oil and energy. Lastly, they would have to pass a law forbidding sales of property to foreigners or Murdoch or Adelson would just buy up Santorini or Mykonos. Personally, I think they will end up leaving the eruo myself.

Thanks for this. We know that Iceland took a "creative" approach to pulling itself out of its banking morass. We know that Argentina at least survived - if not prospered - post its default.

I've made the case that it doesn't do us much good to "over dwell" on these specifics, since the principle reason these approaches worked to the extent they did, was because they're both small nations and both were alone in doing what they did at the time.

I'm thinking that just maybe.....Greece could "get away" with doing something dramatic, as well. We/they seem constrained by "conventional wisdom" that might be valid if lots of nations were to do as Greece were to do, but may not apply to a single small nation.

Some time back, I read a fascinating piece about how the little nation of Latvia was able to pull itself out of the ubiquitous post-Soviet Union doldrums and debt that beset Eastern Europe. They actually took what might be described as an "austerity" tack. But...the reason it worked for them, was that half their employment-age population was able to emigrate to the then-flourishing economies of the Euro, Ireland, et al, earn money, get training, and return once Latvia got back on its feet. That never would have worked, had all of E. Europe taken that approach.

The point of my extended ramble, isn't to suggest anything specific that the Greeks should do. It's simply to suggest that maybe they oughta take a flier, set aside "conventional" wisdom, and do what they think makes best sense for them.

Although...with all due respect to the Greeks, I still get the impression that all too many think they have a God-given right to have their cake and eat it to.
 
.

Although...with all due respect to the Greeks, I still get the impression that all too many think they have a God-given right to have their cake and eat it to.
Iceland did the right thing, they forgave the debt and started over. Now they are doing fine. In regards to the quote above, why shouldn't every nation desire that everyone get a good deal? As it stands today, the entire world economic order is for the benefit of a very few individuals. It is unsustainable. Every nation must follow a path that works for them. In the long run, we are all dead anyway. It would be a sad day indeed if some future Greek turns out to view a Zorba character in a museum in Athens. Look kids, can you believe how miserable he was dancing on the beach while being dead broke? Here is one of my favorite scenes in all of cinema.

 

justoffal

Senator
Overtaxed? Maybe not. Greece has the lowest tax compliance rate in the western capitalist world - somewhat south of 50%. They elected leadership a little while back, that promised to lead them out of their economic malaise. These leaders had a rather curious,radical, and bizarre plan. They would do it all by raising tax compliance to around 60%. No new taxes. No severe austerity. Just trim back on tax avoidance by a piddling 20%. And surprisingly, per the math, the scheme actually made sense.

Alas......the Greeks had a shit fit. It seems the Greeks'll put up with a lot. But...paying one dime more of what they actually OWE?...that's going too far.
I do remember the riots....but I don't think that GS is the rigth fit for the problem.
Thanks for the heads-up on the real numbers...apparently I had the wrong impression of their crisis.....it seems to have stemmed from an overwhelming entitlement state ..hmm
Now where have we seen that before?

JO
 
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