Thursday, 16 June 2011

Winner takes all.

Greece has always been poor. It's a country of goat herders and melon growers. Since the early 90's, successive Socialist and Communist politicians have raised living standards by simply borrowing money. Entry to the EU provided yet more "infrastructure grants" and raised living standards further as it soaked up "free" money from Brussels.

Along came the Euro, which Greek politicians held up as the new standard of civilisation, the melon farmers and goat herders were now as rich as their cousins in Germany, without all the effort, or taxes that built the German state.

Of course, the bankers sat back and lent as much as they were asked to lend. An Olympic stadium? No problem. Ports and airports? Sign here. Politicians lined their pockets and basked in the glory whilst the Greeks retired at 50 and ordered new BMWs. From their cousins. With credit provided by their nephews, the French. One happy family.

The bills racked up and still no one could explain how Greece was going to pay all this money back. Unimportant, as long as Brussels could point to shiny new motorways and wind farms.

And now, the cold hard truth is out there. Not only does Greece have no money, it NEVER had any money. The banks were always hedging their bets that Brussels would bail them out should the Greek secret become known and Brussels always knew that the glorious Euro project would force other nations to support the poor relative if required.

Well, the shit is about to hit the fan. German and French banks want their money back and they know they can't get it from Greeks. If Greece simply defaults, French and German banks, along with the European Central Bank will fail. The consequences will be catastrophic. The Euro will plummet, shares will plummet and the whole ponzi scheme will be exposed.

If Greece doesn't default, someone other than banks will have to find the money to keep the goat herders accustomed to this wonderful new standard of living before they burn their Parliament to the ground and hang their politicians. And that will be you, me and the Germans. Money will be taken from our pockets and handed to French and German bankers. Meanwhile, the Greeks will hire more diversity coordinators and the Euro will limp on until the next country has the bailiffs knocking.

This IS new socialism. This is how they redistribute your wealth. Via the banks, who are only too happy to play their part. Take from the taxpayer and hand to the banks who handed to the Socialists. Fiendishly simple.

There IS no crisis. The Greeks will still herd goats and grow melons, as they always have. No one will starve. They will adjust to life without new motorways and BMWs. The only crisis is within the cabal of bankers and EU politicians who have shown their hand too early.

Stand back and watch the fireworks. This may well be something your grandchildren will study in school.

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