Cherchez la Verite: Few Americans understand the reasons for European Sovereign Debt Crisis. The "Troika" consisting of the European Commission, the European Central Bank, and the International Monitary Fund (IMF) decide to make loans to economically failing EU member countries in the full knowledge that countries like Greece, Italy, Spain, and Portugal cannot possibly pay them off. Why would they do that? Well you have to know how it works. The IMF immediately takes the promised loans and uses them to pay off the creditors. Then the IMF requires that the people of those countries pay the IMF back every red cent by taking additional cuts in their salaries and pensions and requiring their government to sell off services such as water and electricity to foreigners who will raise the prices. How to escape starvation? Why resign from the European Union and default on all current loans! Of course, they would still need loans. But they would need to be long term so that those loans can be paid back after they are first used to improve their economies. Who would grant them such loans? Why Russia, China, and the BRICS!

Monday, April 13, 2015

Few Americans understand the reasons for European Sovereign Debt Crisis. The "Troika" consisting of the European Commission, the European Central Bank, and the International Monitary Fund (IMF) decide to make loans to economically failing EU member countries in the full knowledge that countries like Greece, Italy, Spain, and Portugal cannot possibly pay them off. Why would they do that? Well you have to know how it works. The IMF immediately takes the promised loans and uses them to pay off the creditors. Then the IMF requires that the people of those countries pay the IMF back every red cent by taking additional cuts in their salaries and pensions and requiring their government to sell off services such as water and electricity to foreigners who will raise the prices. How to escape starvation? Why resign from the European Union and default on all current loans! Of course, they would still need loans. But they would need to be long term so that those loans can be paid back after they are first used to improve their economies. Who would grant them such loans? Why Russia, China, and the BRICS!

Paul Craig Roberts – As Greece Pivots, Putin Unleashing Ultimate Move To Crush The EU And NATO

With people around the world worried about the escalating crisis in Greece and conflicts in the Middle East and Ukraine, today former U.S. Treasury official, Dr. Paul Craig Roberts, warned King World News that as Greece pivots, Putin is unleashing the ultimate move to crush the EU and NATO.

Eric King: “Dr. Roberts, I find the foresight you have is fascinating. You were the only person in the world who talked (on KWN in January) about Greece and the new Greek government getting close to (Putin and) the Russians. And here we are in the month of April and we’ve got the Greek government officials meeting with Vladimir Putin. How did you know that it would end up in this place? What possibly made you dream up this scenario that’s (now) unfolding?”

Dr. Paul Craig Roberts: “The former (Greek) governments were all interested in being accepted in the West, (being) paid off, taken care of, having comfortable bank balances in Switzerland or wherever, and so they went along with this notion that we will drive the Greek people into starvation in order to pay the people who have speculated on Greek debt (the banksters)….

“This current (Greek) government isn’t willing to do that, or at least so far has not been willing to do that. And they understand that the debt cannot be repaid. The Greeks can’t pay the bailout and so the president of Russia, Vladimir Putin, who has been accepting indignity after indignity from the EU and Washington, lie after lie, sanction after sanction, he saw an opportunity. He said, ‘Look, come do business with us Greece.'

So the possibility is there now that the Greeks will simply default on the entire debt. If I was the Greek government that is exactly what I would do. I would tell the West:

"You’re trying to drive us into the ground — to force starvation on the Greek people. You go to hell, we’re not paying you one nickel. In fact, we’re not having anything else to do with you. We’re out of NATO, we’re out of the EU, we’ve got our own currency back, and if we need any financing, our Russian friends are going to finance us."

That Would Set Off A Chain Reaction In The West

Now this would begin the breakup of NATO, which is necessary if there is to be peace in the world. There can be no peace as long as NATO exists because NATO is a mercenary force for Washington’s aggressions. And without NATO, Washington doesn’t have any cover.

Well, if they lose the cover of Europe, Washington is standing there alone in its aggression. So the minute NATO were to breakup, the threat of war with Russia and China would be over because Washington alone wouldn’t be able to pursue this type of enterprise.

Greek And Russian Alliance Spells The End Of NATO

So Greece and Russia (together) is the beginning of the possibility of the breakup of NATO because if the Greeks were to default on the debt, that would leave Greece debt free. It would have zero debt to GDP, and if they needed financing for some reason, the Russians could finance them.

Italy And Spain Would Be Next After Greece

Now, if this happens with Greece, it’s bound to happen with Italy and Spain because Italy and Spain are in the same situation — they’ve got more debt than they can service. And the United States has been very active to make sure that the governments of Italy and Spain are governments that Washington controls — who will ruin their own people and their own country in order to pay off Washington and the New York hedge funds, Germany, Netherlands, and the European big banks (banksters).

Spain And Italy May Also Look To The Russians, Chinese Or The BRICs

But if Greece were to leave, then that shows the politicians in Spain and Italy that they can do the same thing — they could default and have a debt free balance sheet. And if they needed to have any kind of financing, they can turn to Russia, or Russia and China, or the BRICS bank (AIIB), which is now funded with $100 billion.

Greedy Banksters May Cause The Fall Of The Empire

So what we see possibly happening here is that the greed of the West and the Western financial interests (banksters), the hedge funds, the EU, Washington, this greed to loot countries, even their own members like Greece, could end up breaking up the empire.

I think we need to be very hopeful that this does occur because the United States has kept the world at war and there have been millions of people killed, displaced, maimed, and wounded. And now that they (the U.S.) are running out of easy enemies, they are seizing on Russia. Well, Russia is not an easy enemy and the Russians keep telling Washington:

"We’re not Gaddafi. We’re not Saddam Hussein. If you mess with us, it’s the end of the world. What are you doing? Don’t you have any sense? Do you really want war with nuclear powers? Why can’t you be intelligent and why don’t we work out these things diplomatically?"

But Washington doesn’t hear. Washington just goes on about its business. These people are committed to a war with Russia, but that’s not a war that anybody can win.

So I think that the Greeks are fortunate to have gotten a new government. I think the Greeks were silly not to have given the new government a massive majority. I think if they had given the new government a massive majority then the Europeans would have made an adjustment in their demands.

But since the Europeans are still determined to loot Greece for their own gain, the Greeks may turn away from Europe. And if they do, it will be the beginning of the unraveling of the EU, the euro, and, thank goodness, of NATO.” KWN has now released the incredible audio interview with Dr. Paul Craig Roberts, where he discusses one of the greatest periods of crisis that the world has ever seen as well as the dangerous events taking place around the globe and you can listen to it by CLICKING HERE