In my previous blog a week ago, I wrote about the rape of developing countries via generous loans with strings attached that turn into traps to divest them of their national assets. This financial colonialism is a well known historical fact.
But it seems the turn has now come to the developed countries. During the recent gambling orgies at the “Global Casino” they were set up by the international banking community with fancy gambling debts in the guise of “financial instruments” called “Derivatives”. Among the victims, Greece has been in high focus now for some time, with most Eurozone countries in line for similar treatment.
Last week the incisive researcher and master discloser Ellen Brown, attorney and president of the Public Banking Institute, wrote the following for Global Research:
“The Goldman Sachs coup that failed in America has nearly succeeded in Europe—a permanent, irrevocable, unchallengeable bailout for the banks underwritten by the taxpayers.
In September 2008, US Treasury Secretary (i.e. Minister of Finance) Henry Paulson, former head of giant investment bank Goldman Sachs, managed to extort a $700 billion bank bailout from the US Congress. To pull it off, he had to threaten the collapse of the entire global financial system and the imposition of martial law. He got his one time bailout, but his plea for a permanent bailout fund—the Troubled Asset Relief Program or TARP—was rejected by Congress.
The Goldman Sachs Octopus Captures the European Central Bank
Last November, barely noticed in the press, former vice president of Goldman Sachs Europe, Mario Draghi took over as head of the European Central Bank (ECB). Draghi wasted no time doing for the banks what the ECB has refused to do for its member governments—lavish money on them at very cheap rates. He approved a 489 billion Euro bailout for a total of 523 European banks at 1% interest for 3 years without asking anyone’s permission.
Then, in January 2012, a permanent rescue funding program called the European Stability Mechanism (ESM) was passed in the dead of night with hardly even a mention in the press. The ESM imposes an open-ended debt on EU member governments, putting taxpayers on the hook for whatever the ESM’s Eurocrat overseers demand. Its authorized capital stock shall be 700 billion euros.
It´s also worth noting that the heads of the new “tecnocrat crisis governments” of both Greece and Italy have close ties with Goldman Sachs.
The bankers’ coup has triumphed in Europe, seemingly without a fight.
Here are excerpts from the statutes of the ESM:
[Article 9]: “. . . “ESM Members hereby irrevocably and unconditionally undertake to pay on demand any capital call made on them . . . within seven days of receipt of such demand.” . . . If the ESM needs money, we have seven days to pay. . . . But what does “irrevocably and unconditionally” mean? What if we have a new parliament, one that does not want to transfer money to the ESM? . . . .
[Article 10]: “The Board of Governors may decide to change the authorized capital and amend Article 8 … accordingly.” Question: So 700 billion is just the beginning? The ESM can stock up the fund as much as it wants to, any time it wants to? And we would then be required under Article 9 to irrevocably and unconditionally pay up? Within 7 days!
[Article 27, lines 2-3]: “The ESM, its property, funding, and assets . . . shall enjoy immunity from every form of judicial process . . . .” Question: So the ESM people can sue us, but they are above the Law!
[Article 27, line 4]: “The property, funding and assets of the ESM shall . . . be immune from search, requisition, confiscation, expropriation, or any other form of seizure, taking or foreclosure by executive, judicial, administrative or legislative action.”
[Article 30]: “Governors, alternate Governors, Directors, alternate Directors, the Managing Director and staff members shall be immune from legal process with respect to acts performed by them . . . and shall enjoy inviolability in respect of their official papers and documents.” So nobody involved in the ESM can be held accountable for anything . . .
This treaty establishes a new intergovernmental organization to which member states of the eurozone are required to transfer unlimited assets within seven days if it so requests. This organization can sue its members but is itself immune from all forms of prosecution and its managers and staff enjoy the same immunity. There are no independent reviewers and no existing laws apply. Governments cannot take action against it.
The national budgets of the euro-zone countries are then in the hands of one single unelected intergovernmental organization, run by the international banking cartel, which is owned by The Rothschilds, the Rockefellers, Goldman Sachs, et al. Should that be the future of Europe?
Simon Thorpe, a research director at the French National Centre for Scientific Research, has written extensively about this whole issue in his blog.
At 18% interest, he points out, Greek debt doubles in just four years. It is this heavy interest burden, more than the debt itself, that is crippling Greece and other debtor nations. But he has a solution: Instead of lending to private banks, let the European Central Bank lend money directly to member governments. At very low or no interest.
The objection to that is Article 123 of the Lisbon Treaty which prevents the ECB from lending to governments. The idea behind this system is to prevent elected national governments from ordering Central Banks to print money irresponsibly, which could cause price inflation. That´s why the ECB should be independent from governments. But the now proposed system is much worse. The ECB is totally in the hands of the banking sector. If they want half a billion of really cheap money, they just create and spend it. They don´t need to consult anyone. By the time the ECB makes the announcement, the money is already spent and gone.
If the ECB was at least working under the supervision of elected governments, the people in its member states would have some influence when they elect their governments. But now there is no control whatsoever.
Simon Thorpe comments:
“Goldman Sachs and the financial technocrats have taken over the European ship. Democracy has gone out the window, all in the name of keeping the central bank independent from the “abuses” of government.”
Ratifying the ESM treaty, would mean that the Eurozone countries give up their precious democracy to “a rogue band of financial pirates.”
They would be far better off changing article 123 of the Lisbon treaty. Then the ECB could issue credit directly to its member governments.
Another alternative would be for Eurozone governments to take back their economic sovereignty and revive their publicly-owned central banks. Then they can themselves issue the credit they need, practically without interest. If that were to happen, then the idea of one single European currency would go the way of the dodo. The idea as such may have been good, but it was obviously not realistic under the current circumstances.
Simon Thorpe sent a series of questions to the ECB which were all correctly answered. His “killer question” was: “If a publicly owned credit institution was to supply the money to a government such as the Greek government in order for that government to pay off its debts to the financial markets, would the ECB object?”
The response by the ECB to this questions was: According to the Treaty – as you have just quoted – such publicly owned credit institutions “shall be given the same treatment by national central banks and the ECB as private credit institutions.” It is up to the banks to decide how to use the money they have borrowed from the central bank system.
As Thorpe remarks, this provides the following solution: The Greek government can set up a “publicly-owned credit institution”(with sufficient collateral) that asks for 329 billion euros from the ECB at 1%, loans the money on to the Greek government, who then immediately pays off the 329 billion they owe the markets. The Greeks would then no longer be paying 18% to bond market loan sharks, and the banks have all been repaid. My comment is that, according to the rules, eventually the money still has to be repaid to the ECB by the intervening publicly-owned credit institution, but with only 1% interest. As far as I know, they have not done this. Why?
When reading about the Greek crisis, I couldn´t help associating to the ancient Greek myth of the abduction of Europa by Zeus, the ruler of the Olympos transformed into a white bull. It seems Europe, beginning with Greece, is now being raped by the bankers who rule the financial Olympos of the world. Their modern white bull disguise is as Goldman Sachs former executives who pretend to be “saviours”, and who usurp the power as non-elected financial tecnocrats.
Did Europan countries really not learn anything from the rape of all those developing countries by the World Bank and the International Monetary Fund? – Did they think it could not happen to them? – Or are their decision-makers all on the Olympic bull´s payroll?
Wake up, Europe! Hop off that old paradigm bull! It is in the fast lane towards the financial-military dictatorship of the so called New World Order, actually identical to the oldest world order we know. Use your common sense to reject it.
Choose instead the new Aquarian Paradigm for the future! That´s the way to a transformed, conscious world, a world of peace, participation, permanent progress and prosperity for all.
One by one, we may be powerless, but united, we the People, have the power to choose. So take action and DO something about it NOW! Before it´s too late.
I am looking forward to your comments and action reports.
Till next time,
Images of the classic paintings illustrating the rape of Europa are courtesy of blogger Sarah Fallon of Brisbane, Australia