Socio-Economics History Blog

Socio-Economics & History Commentary

Former CIA Officer Professor Michael Scheuer on The Economics of War With Iran!

March 13, 2012 Posted by | GeoPolitics | , , , , , , , , , | Comments Off on Former CIA Officer Professor Michael Scheuer on The Economics of War With Iran!

Patrick Henningsen: Big Mega Wars Only Help Establish World Government !

March 13, 2012 Posted by | GeoPolitics | , , , , , | Comments Off on Patrick Henningsen: Big Mega Wars Only Help Establish World Government !

Director Sean Stone: Satanism and Pedophilia Crimes of The Global Elite!

March 13, 2012 Posted by | Social Trends | , , , | Comments Off on Director Sean Stone: Satanism and Pedophilia Crimes of The Global Elite!

Head of Quds Supreme Court Warns About Zionists’ Plots To Destroy Al-Aqsa Mosque!

  • If an attack on Iran by Zionist Israel won’t start the Satanic World War 3, the destruction of the Al Aqsa mosque definitely will ! We are dealing with people who are insane, who are infected by the blasphemous reality of the mentally ill: Satanism!

    Head of Quds Supreme Court Warns about Zionists’ Plots to Destroy Al-Aqsa Mosque! 
    TEHRAN (FNA)- Head of Quds Supreme Court Yusuf Ade’is warned about the Zionist regime’s plots to destroy the al-Aqsa Mosque through artificial earthquakes. 

    “This action (creating artificial earthquake) is not difficult for the Zionist regime since the drilling operations around the (al-Aqsa) Mosque has worn off the foundations of the Mosque’s building,” Ade’is told FNA on Saturday.

    He further cautioned that officials and rabbis of Zionist settlements have recently attended a series of overt and covert meetings coordinated with Israeli defense ministry to work out plans to destroy the al-Aqsa Mosque.

    In light of the Arab and Muslim world’s passive stance, the Zionist regime takes any action it wants very freely and breaks sanctuaries and Judaizes the Quds city without being questioned by the international community.

    In April 2011, the Al Aqsa Foundation for Islamic Endowment (Waqf) and Heritage reported that the Israeli Authorities are going on with their excavations under the Al Aqsa Mosque to create a network of tunnels under and around the very important mosque.

    The foundation stated that occupation is penetrating areas beneath the mosque and its surroundings through excavations that have been escalated during the last few months.

    The foundation added that the excavations and digging are also being conducted under the Al Boraq Wall near the Moghrabi Gate (Bab Al Magharba), Al Silsila Gate (Gate of the Chain), and Al Mat-hara Gate.

    A senior Palestinian journalist in an article last month stressed that protecting the Al-Aqsa Mosque from fanatic Zionist Jews is a vital responsibility of every Muslim.

    In an editorial in Al-Jazeerah website, Khalid Amayreh called on Muslims to protect Islam’s holy places in the Holy Quds (Jerusalem). “Attacking or destroying or burning the Islamic house of worship of 1400 years would spark off religious wars between Muslims and Jews, wars that would only end when the redeemer or Jewish Messiah appears,” he said in the article.

    Palestinian officials have repeatedly warned that the Israeli Quds municipality continues its attempts to Judaize East Quds (Jerusalem) through the renaming of Arab street names and monuments in the city.

    As part of what the municipality calls “infrastructure restoration and area development”, authorities fenced off areas around the city’s historic Damascus Gate to do name and landscape changes as part of the Judaizing of the city.


March 13, 2012 Posted by | GeoPolitics | , , , , , , , | Comments Off on Head of Quds Supreme Court Warns About Zionists’ Plots To Destroy Al-Aqsa Mosque!

Complain in Spain: New Wave of Anger Over Austerity Hits Cities!

March 13, 2012 Posted by | Economics | , , , , , , , | Comments Off on Complain in Spain: New Wave of Anger Over Austerity Hits Cities!

‘Yellow Light Enough’ for Israel To Attack Iran!

Stop the war!

March 13, 2012 Posted by | GeoPolitics | , , , , , , , , , , | Comments Off on ‘Yellow Light Enough’ for Israel To Attack Iran!

Rogue US Soldier Slays 16 Afghans!

  • Afghanistan was never involved in 9/11. There are no evidence at all they were involved. American soldiers are simply deceived useful idiots serving their Illuminist rulers! The American military is committing war crimes every day in Afghanistan. It is an illegal war of aggression. The real reason Afghanistan was invaded was for the gas/oil pipeline infrastructures and opium production. 
  • The global drug trade is controlled by the 13 Satanic bloodlines via Illuminist intelligence agencies: CIA, MI6 …. etc. The Taliban effectively wiped out opium crops in Afghanistan by 2000. That pissed off the western Illuminati and thus (amongst other reasons) Afghanistan was invaded. Since the western invasion, Afghanistan is now the largest producer of the opium crop, something like 90+% of worldwide production. As long as US and NATO remains in Afghanistan, opium production will continue and flourish!

    Taleban Wipes out Afghanistan’s Opium Production
    Jim Teeple Jalalabad, 8 Apr 2001 21:23 UTC
    U.N. drug control officials say Taleban authorities in Afghanistan have wiped out the country’s opium crop – the largest such crop in the world. U.N. officials say the action is unprecedented, and Afghanistan’s former poppy farmers need urgent assistance to help them make the transition to farming legitimate crops. That transition is already well underway, but many Afghan farmers think giving up poppy farming will mean a harder life.

    Afghanistan, Opium and the Taliban
    JALALABAD, Afghanistan (February 15, 2001 8:19 p.m. EST)
    U.N. drug control officers said the Taliban religious militia has nearly wiped out opium production in Afghanistan — once the world’s largest producer — since banning poppy cultivation last summer. A 12-member team from the U.N. Drug Control Program spent two weeks searching most of the nation’s largest opium-producing areas and found so few poppies that they do not expect any opium to come out of Afghanistan this year.
  • Dateline report on CIA drug trafficking into the US with follow-up commentary by Alex Jones
    Dateline news report on how the CIA brought cocaine into the US during the 1980s, igniting the crack epidemic. The late investigative journalist Gary Webb discusses how “Freeway Ricky Ross” was only a small player in a much larger scheme by the CIA to traffic drugs into America. Former DEA agent Cele Castillo is also interviewed, speaking about how when he worked for the DEA and witnessed drug trafficking, he was told that it was a code operation being run by the White House! After the dateline report, Alex Jones offers further insight into the system of control that the US government has manufactured with it’s so called “War on Drugs”. This news piece is extremely damning evidence of the drug running conducted by the US government!
  • MI6 Are the Lords of the Global Drug Trade (emphasis mine)
    by James Casbolt, Former MI6
    It may be a revelation to many people that the global drug trade is controlled and run by the intelligence agencies. In this global drug trade British intelligence reigns supreme. As intelligence insiders know MI5 and MI6 control many of the other intelligence agencies in the world (CIA, MOSSAD etc) in a vast web of intrigue and corruption that has its global power base in the city of London, the square mile. My name is James Casbolt, and I worked for MI6 in ‘black ops’ cocaine trafficking with the IRA and MOSSAD in London and Brighton between 1995 and 1999.

    My father Peter Casbolt was also MI6 and worked with the CIA and mafia in Rome, trafficking cocaine into Britain. My experience was that the distinctions of all these groups became blurred until in the end we were all one international group working together for the same goals. We were puppets who had our strings pulled by global puppet masters based in the city of London. Most levels of the intelligence agencies are not loyal to the people of the country they are based in and see themselves as ‘super national’.

    It had been proved beyond a shadow of a doubt that the CIA has been bringing in most of the drugs into America for the last fifty years
    (see ex LAPD officer Michael Rupert’s ‘From the wilderness’ website for proof). The CIA operates under orders from British intelligence and was created by British intelligence in 1947. The CIA today is still loyal to the international bankers based in the city of London and the global elite aristocratic families like the Rothschild’s and the Windsor’s. Since it was first started, MI6 has always brought drugs into Britain. They do not bring ‘some’ of the drugs into Britain but I would estimate MI6 bring in around ninety percent of the drugs in. They do this by pulling the strings of many organised crime and terrorist groups and these groups like the IRA are full of MI6 agents.

    MI6 bring in heroin from the middle east, cocaine from south America and cannabis from morocco as well as other places. British intelligence also designed and created the drug LSD in the 1950′s through places like the Tavistock Institute in London. By the 1960′s MI5, MI6 and the CIA were using LSD as a weapon against the angry protestors of the sixties and turned them into ‘flower children’ who were too tripped out to organise a revolution.

    Dr Timothy Leary the LSD guru of the sixties was a CIA puppet. Funds and drugs for Leary’s research came from the CIA and Leary says that Cord Meyer, the CIA agent in charge of funding the sixties LSD counter culture has “helped me to understand my political cultural role more clearly”. In 1998, I was sent 3000 LSD doses on blotting paper by MI5 with pictures of the European union flag on them. The MI5 man who sent them told my father this was a government ‘signature’ and this LSD was called ‘Europa’.

    This global drugs trade controlled by British intelligence is worth at least 500 billion a year.
    This is more than the global oil trade and the economy in Britain and America is totally dependent on this drug money. Mafia crime boss John Gotti exposed the situation when asked in court if he was involved in drug trafficking. He replied “No we can’t compete with the government”. I believe this was only a half truth because the mafia and the CIA are the same group at the upper levels. In Britain, the MI6 drug money is laundered through the Bank of England, Barclays Bank and other household name companies. The drug money is passed from account to account until its origins are lost in a huge web of transactions. The drug money comes out ‘cleaner’ but not totally clean. Diamonds are then bought with this money from the corrupt diamond business families like the Oppenheimers. These diamonds are then sold and the drug money is clean.

    MI6 and the CIA are also responsible for the crack cocaine epidemic in Britain and America. In 1978, MI6 and the CIA were in south America researching the effects of the natives smoking ‘basuco’ cocaine paste. This has the same effect as crack cocaine. They saw that the strength and addiction potential was far greater than ordinary cocaine and created crack cocaine from the basuco formula. MI6 and the CIA then flooded Britain and America with crack. Two years later, in 1980, Britain and America were starting to see the first signs of the crack cocaine epidemic on the streets. On august 23, 1987, in a rural community south of Little Rock in America, two teenage boys named Kevin Ives and Don Henry were murdered and dismembered after witnessing a CIA cocaine drop that was part of a CIA drug trafficking operation based at a small airport in Mena, Arkansas. Bill Clinton was the governor of Arkansas at the time. Bill Clinton was involved with the CIA at this time and $100 million worth of cocaine was coming through the Mena, Arkansas airport each month. For proof see the books ‘Compromise’ and ‘Dope Inc’.


March 13, 2012 Posted by | GeoPolitics | , , , , , , , , , , , | Comments Off on Rogue US Soldier Slays 16 Afghans!

US And Russia Continue To Clash Over Syria!

March 13, 2012 Posted by | GeoPolitics | , , , , , , , , | 3 Comments

Stephen Lendman: Israel Terror Bombs Gaza!

  • Zionist ‘666’ Israel can no longer get away with their oppression and mass murder of the semitic Palestinian people. Let me describe to you what is happening: Ashkenazi Khazars non semitic people flying a ‘666’ flag are committing acts of genocide and ethnic cleansing against semitic Palestinian. What does this remind you of? It reminds me of Satan going all out to kill the real Jews, the biological descendents of the 12 tribes of Israel in the book of Revelation!

    Israel Terror Bombs Gaza 
    by Stephen Lendman (Jew), 
    Imagine living years under deplorable isolated siege conditions. Imagine also enduring regular Israeli land, sea and air attacks.

    Gazan resistance groups launch Grad missiles, home-made rockets, and mortar shells in self-defense. Israel calls them “unprovoked” attacks. Palestinian freedom fighters vow to continue their liberating struggle. Under international law, it’s their right, and for them a duty.

    The latest Israeli attacks came Friday and Saturday. Expect more to follow. Deaths so far number at least 15. Over two dozen others were injured, some seriously, according to Gaza medical services spokesman Adham Abu Salmiya. Israel falsely claimed only militants and weapons manufacturing sites were struck.

    Israel often launches strikes to provoke responses. Hamas was maliciously blamed for initiating attacks. Israel’s blame game targets victims. Aggression’s called self-defense. Freedom fighters are called terrorists. World leaders don’t intervene to stop cold-blooded IDF murder.

    Four members of one family were killed. Israel treats civilians like combatants. Crimes of war and against humanity are committed regularly. This time in response, Popular Resistance Committees member Abu Mojahid declared an end of truce and vowed revenge.

    The latest incident began when Israeli air strikes killed Zuhir al-Qaisi, Popular Resistance Committees (PRC) secretary-general. PRC member Mahmoud Hanani was also killed. Both men died when two IDF missiles struck their car. Hanani was released last October as part of the Shalit prisoner swap deal. Israel spuriously claimed al-Qaisi masterminded an August 2011 attack killing eight Israelis, a 2008 incident claiming two more, and planned another on Israel’s border with Gaza.

    Unilaterally maintaining truce for months, Hamas’ interior ministry called Israel’s “Zionist escalation an unjustified crime. It comes as part of the destabilization of a stable security situation in the Gaza Strip. We hold the international community fully responsible for the attacks.” It added that Palestinians have the right to self-defense against Israeli aggression. International law permits it.

    A PA statement condemned Israel’s attacks for “escalat(ing) the circle of violence in the region.” Al-Qassam Brigades officials “mourn(ed) the martyr Zuhir al-Qaisi and martyr Mahmud Hanani and (said) their blood will not be wasted. The enemy’s crime will be a curse on him.”

    US Weapons Killing Palestinians
    The US Campaign to End the Israeli Occupation is a “national coalition of more than 380 groups.” They work together “to end US support for Israel’s occupation of the Palestinian West Bank, Gaza and East Jerusalem.”

    On March 6, its policy paper titled, “US Military Aid to Israel” explained that weapons and munitions supplied kill Palestinian civilians.National Advocacy Director Josh Ruebner said “U.S. military aid to Israel is a policy that is running on autopilot and must be reconsidered.”

    “U.S. weapons provided to Israel at taxpayer expense make the U.S. complicit in Israel’s human rights abuses of Palestinians living under Israel’s 44-year military occupation of the West Bank, East Jerusalem, and Gaza Strip and defeat U.S. foreign policy objectives of halting Israeli settlement expansion, ending Israeli military occupation, and establishing a just and lasting Israeli-Palestinian peace.”

    Israel gets more US aid than all other nations combined. Through 2008, it exceeds $100 billion based on official figures. In fact, they way understate true amounts supplied. What Israel wants it gets. Included are state-of-the art weapons, munitions and technology, as well as direct financial aid for Israel’s defense industry, emergency supplemental appropriations, and much more.

    … for more click here!

Revelation 2:9 – …. and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.

“ … it turns out the creation of Israel had not, after all, been a haphazard fight in which the Arabs fled their homes at the directives of their own leaders, but it had been an unprovoked, systematic campaign of ethnic cleansing by the Jewish militia involving massacres, terrorism and the wholesale looting of an entire nation.” from 4:22 onwards


March 13, 2012 Posted by | GeoPolitics | , , , , , , , , , , | Comments Off on Stephen Lendman: Israel Terror Bombs Gaza!

Greece is ‘Likely To Need Third Bail-Out’!

  • The 2nd bailout has barely started and we are already talking about a 3rd bailout. These so-called bailouts are a con job. Greece has not been bailed out or saved. It is the banksters which have been bailed out. It is about saving the Illuminist banks while shoving the bill down the throat of the Greek sheeple!

    Greece is ‘likely to need third bail-out’! 
    By , 
    A third bail-out for Greece cannot be ruled out, a senior European Central Bank (ECB) official said, as the country’s troika of lenders prepared to rubber-stamp its €130bn (£109bn) second financial rescue.

    Greece concluded a complex debt restructuring with private sector creditors on Friday, leading to the declaration of a “credit event” that will trigger about €3.5bn of credit default insurance payouts. There were doubts over the exact impact of the credit default swaps, as Austria said it would need to inject up to €1bn into a state-owned bank as a result.

    Even as ECB policymaker Ewald Nowotny hailed Greece’s debt restructuring a “clear success”, he today admitted a third aid package was a possibility. “You have to see this very realistically,” he said. “It would be negligent to rule such a thing out completely but I don’t see any need for this at the moment.”

    Alastair Winter, chief economist at Daniel Stewart & Co, said he was certain a third bail-out would ultimately be needed. “I don’t see how they can possibly return to the capital markets in 2015,” he said.

    … for more click here!


March 13, 2012 Posted by | Economics | , , , , , , , , | Comments Off on Greece is ‘Likely To Need Third Bail-Out’!

Pentagon Already Planning for Strikes Against Iran And Syria According To Senior Officials!

“Military men are dumb, stupid animals to be used as pawns for foreign policy.” ~ Henry Kissinger (Committee of 300?).

  • The Illuminist plan is: global economic, financial and monetary collapse leading to World War 3. You can see clearly that all they say about a nuclear armed Iran threat are nonsense. It is simply a convenient excuse to start their Satanic World War 3. They want a World War 3 to conquer the world, to cover up the economic mess they have created, to kill off their enemies ie. the sheeple … to set the stage for the coming of their fake messiah, the Anti-Christ, the bringer of false peace, the white horseman of Revelation 6. Unfortunately, the sheeple are too dumb to understand this and will volunteer to goto war against anybody their Illuminist government tell them to. They are simply deceived useful idiots complicit in their own destruction.

    Pentagon Already Planning for Strikes Against Iran and Syria According to Senior Officials! 
    By Madison Ruppert, The Intel Hub 
    According to senior Pentagon officials, American military forces are already planning for possible strikes against Iran and Syria utilizing both conventional weaponry and cyberwarfare as the situation in both nations only seems to be getting worse by the day.

    Lieutenant General Herbert Carlisle, deputy chief of staff for operations, plans and requirements with the U.S. Air Force informed a March 8 investors conference sponsored by McAleese and Associates and Credit Suisse that the Department of Defense is exploring their options for military actions.

    Carlisle’s statement came on the heels of an interview with the U.S. Secretary of Defense Leon Panetta for the National Journal during which he confirmed that the Pentagon is indeed planning for strikes on Iran.

    This also came in the wake of Panetta saying that he thinks that the North Atlantic Treaty Organization (NATO) should begin debating the issue of military intervention in Syria, although NATO Secretary-General Anders Fogh Rasmussen claims that that discussion has not yet begun.

    While Iran repeatedly denies any intent to develop nuclear weapons and Panetta himself has confirmed that they are not currently developing weapons on two separate occasions, the alleged developments in their program continues to give lawmakers and others the fuel they need to call for war.

    In the case of Syria, the entire fiasco has been rife with blatant propaganda (and poor attempts at damage control), predictions of a military coup d’état, reports that the West is already discussing a no-fly zone, reports of cross-border attacks coming from Turkey, reports of Mossad, CIA and Blackwater already operating, even reports of undercover French army officers being captured and much more.

    In the case of Iran, Carlisle refused to provide specifics on their planning, citing limitations due to the classified nature of the subject. “I won’t get into any details on that, obviously, because it’s ongoing operational planning,” he said, according to Defense News.

    … for more click here! 
  • Daniel 7:23 (New King James Version)
    23 “Thus he said:
    ‘The fourth beast shall be
    A fourth kingdom on earth,
    Which shall be different from all other kingdoms,
    And shall devour the whole earth,

    Trample it and break it in pieces.


March 13, 2012 Posted by | EndTimes, GeoPolitics | , , , , , , , , , , | Comments Off on Pentagon Already Planning for Strikes Against Iran And Syria According To Senior Officials!

Netanyahu Threatens Unilateral Strike Against Iran ‘in Months’!

Revelation 2:9 - .... and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.

  • Zionist Israel is run by genocidal madmen! Iran is not a nuclear threat to anybody. They do not have a nuclear bomb or a nuclear weapons program. The Zionist snakes running Israel are once again fabricating lies, mythology, fear and war mongering …. to lead the Zionist state into totally unnecessary wars. These mental defectives fabricate enemies, fabricate existential threats … to perpetuate the myth that the whole world is against them, to perpetuate the state of siege, the militarization of the state, the constant state of war nonsense …!
  • This is a state which has been committing genocide and ethnic cleansing against largely defenceless, imprisoned … Palestinian people. These Zionist-Illuminists are insane! It appears an attack is scheduled in the Aug-Oct 2012 time frame! The Zionist-Illuminists want to start the Satanic World War 3. It will lead to the destruction of Zionist ‘666’ Israel, the Satanic counterfeit !

    Netanyahu threatens unilateral strike against Iran ‘in months’! 
    Israeli Prime Minister Benjamin Netanyahu has raised the specter of war by saying unilateral strikes on Iranian nuclear sites are possible within months.

    ­Speaking with local media for the first time since returning from Washington earlier this week, Netanyahu said “I hope there won’t be a war at all, and that the pressure on Iran will succeed,” Haaretz daily reports. However, he said the eleventh hour was soon approaching for Iran to “halt its nuclear program or suffer the consequences.”

    “We’re not standing with a stopwatch in hand,” he said. “It’s not a matter of days or weeks, but also not of years. The result must be the removal of the threat of nuclear weapons in Iran’s hands.”

    Netanyahu’s tough talk seems to fly in the face of US President Barack Obama, who told a pro-Israeli lobbying group last Sunday a more measured approach was needed.

    “Already, there is too much loose talk of war. Over the last few weeks, such talk has only benefited the Iranian government by driving up the price of oil, which they depend on to fund their nuclear program. For the sake of Israel’s security, America’s security, and the peace and security of the world, now is not the time for bluster,” he told the AIPAC Policy Conference.

    On Thursday, the defense secretary, Leon Panetta, also said diplomacy had not run its course. While he did not think Israel had made a final decision on a unilateral strike against Iranian nuclear sites, he said their impact would be limited.

    “If they decide to do it, there’s no question that it would have an impact, but I think it’s also clear that if the United States did it we would have a hell of a bigger impact,” Panetta said.

    With the announcement of big power nuclear talks with Iran on Thursday, it remains to be seen what effect Netanyahu’s intensified rhetoric will have on the possibility of a diplomatic breakthrough.


March 13, 2012 Posted by | GeoPolitics | , , , , , , , , , , | Comments Off on Netanyahu Threatens Unilateral Strike Against Iran ‘in Months’!

Why China Is Dumping The Dollar? And Why You Should Read Up on The Weimar Republic!

  • China has begun dumping US treasuries and USD. It will only get worse for the USD as countries the world over abandon it as an international trade settlement currency. A great deal of USD will return to American shores and this will stoke inflation. The FedRes will monetize even more US treasuries. Not only do they have to monetize the US$1.4T of deficit spending. They have to buy up all the treasuries China, Russia and others dump!

    Why China Is Dumping The Dollar – And Why You Should Read Up on the Weimar Republic! 
    by CrownThomas, 
    As ZH posted today, China is systematically dumping the dollar (and beginning to set up other agreements). CNBC assures everyone, however, that things are fine. Don’t read those anonymous financial blogs.

    China has a long way to go in turning itself into more of a consumption based economy, so the dumping of USD has to be rather gradual (as to not rock the boat too much, the U.S. still needs to be supplied the funds to purchase Chinese goods, and also most trades are settled in USD for now), but it is happening.

    One major reason for this action by China is due to the fact that the United States Government has loaded up on so much debt that it’s not possibly sustainable – and the Federal Reserve knows that unless they want to see the house of cards the Keynesians have built come crashing down, they have no choice but to completely monetize the debt. As the dollar continues to be devalued (more in a second), the more yuan China has to print in order to buy dollars to keep their fx target. So not only is China on the hook to pay higher commodity prices (priced in dollars), they’re stuck with creating more domestic inflation as well – which is something they don’t have time to deal with at the moment, as their housing market is on the verge of collapsing.

    Today ZH also pointed out that Greece has 107 Billion Euro in hidden liabilities that oops, they forgot to disclose to anyone. Which made me think, hey, how about the unfunded & if not hidden, largely swept under the rug liabilities the United States has.

    Alas, the Treasury doesn’t use GAAP accounting when they put out their debt figures, they use cash accounting. This means that all of the social programs we have in place (medicare, pensions, social security, etc) are left out of the debt calculation. China is not stupid, they realize that not only are we going to be 100% of GDP soon on our reported debt, we’re going to be well over 100% of GDP on total debt if we are being honest & including our unfunded liabilities. Over $80 Trillion in debt, or over 500% of GDP, according to Shadow Stats John Williams.

    Here is a chart showing our Gross Debt to GDP, along with Total Debt to GDP if we were being honest (via John Williams, Shadow Stats)

    … for more click here!

We will all be trillionaires but can't afford breakfast !


March 13, 2012 Posted by | Economics | , , , , , , | 1 Comment

The Greek €107 Billion Contingent Liability Gorilla Exposed !

  • It appears the amount of debt defaulted on (and thus the CDS exposure) is way above €100 Billion for Greece. This figure is far higher than the €3.2 Billion of CDS exposure reported in the MSM. We now simply have to wait to see which banks go bust when they are made to pay up. Let me assure you: the Illuminist central banks will create a massive amount of money out of thin air to bail out their banks. Got physical gold yet?

    The Greek €107 Billion Contingent Liability Gorilla Exposed ! 
    by Tyler Durden, 
    From Mark Grant, as a follow up The Eight Hundred Pound Greek Gorilla Enters The Room 
    When we have been given the data on Greek sovereign debt it appears we have been misled. I have added up now the ISDA debt issuances and I present them to you; all of these issuances are GUARANTEED by the Hellenic Republic; full faith and credit.


    The New Economy Development Fund $139,000,000.00
    The Hellenic Railway $2,240,000,000.00
    Structured Notes (Not counting Floating Rate Notes) $20,683,000,000.00
    Athens Urban Transportation $837,000,000.00
    Greek Bank Guaranteed Debt $83,314,000,000.00

    TOTAL GREEK GUARANTEED. DEBT $107,213,000,000.00

    Here is $107 billion of OTHER debt; guaranteed debt that does not appear to be included anywhere in the official Greek sovereign debt figures. Contingent liabilities that are not counted any longer perhaps as the accepted manner of doing business now in Europe. Most of these issuances are governed under British law with “Default” clauses and “Negative Covenant” clauses. Greece defaults on €105 billion Euros and adds new debt, the IMF/EU loans, of 130 billion Euros and we are told that Greece is better off today than yesterday. What drivel! With the addition of the new IMF/EU loans of $172 billion and the revelation of the guaranteed debt at $107 billion Greece now has $279 billion of new and hidden debts.

    All of the meandering, all of the charades, all of the red nail polish applied will, in the end I forecast, not be able to hide the reality that the barking dog is a greasy Pig. A Dose of Reality:

    1. If Greece borrows money from the IMF/EU which means that they have more debt now than they did before they defaulted then they are worse off and not better off as they have a larger debt.
    2. If Greece has an additional $107 billion in debt that has not been accounted for because it is not in the name of the Hellenic Republic but is guaranteed by the Hellenic Republic then how are they going to pay off this debt?
    3. If the goal of this entire exercise was to reduce Greece’s debt to GDP ratio to 120% then how will a larger debt accomplish this as it is fiscally impossible.
    4. If the “real REAL goal” was to pay off the European banks so they wouldn’t default then Europe has accomplished this goal but at a terrible cost to Greece and to the Greek people. 


March 13, 2012 Posted by | Economics | , , , , , , , | Comments Off on The Greek €107 Billion Contingent Liability Gorilla Exposed !

LPAC TV: The Anglo-American Illuminist Drive To Thermonuclear World War 3!

March 13, 2012 Posted by | GeoPolitics | , , , , , , , , , , , , | Comments Off on LPAC TV: The Anglo-American Illuminist Drive To Thermonuclear World War 3!