I am looking forward to Armstrong's comments re Greece tomorrow and the near-future.
I think I understand this better than Armstrong does.
Perhaps the Troika will use the big stick of capital controls to induce the Greeks to vote for the Troika's bailout terms which contains a few carrots with more austerity.
The referendum is some sham to convince the Europeans they are not under a dictatorship, as was the case for Scotland.
Remember my prediction in 2010 in the "Understanding Everything Fundamentally" essay.
You will probably need a week or two of studying the thread slowly.
I will be the first to admit I needed a week to fully absorb the following works of AnonyMint.
The Rise of Knowledge
Understand Everything Fundamentally
http://www.coolpage.com/commentary/economic/shelby/Understand%20Everything%20Fundamentally.html#europe
"Coase’s theorem says that an inefficient internal order will continue for as long as there remains an unavoidable frictional barrier insulating it from the more efficient external possibilities. The fundamental reason the EU crisis will not result in a disintegration of the union, at least not until its people significantly abandon collectivism, is that organisms which are unable to comprehend the mechanism by which they are consuming resources faster than their ecosystem can replenish, thus are unable to stop the mechanism before they perish. So the implosion of the friction and thus the order only occurs when they perish, because they will continue to repeat the mechanism which they do not understand to be a cause of their suffering. This can be verified in a petri dish, as an organism will reproduce until it consumes all of its food or oxygen."
Yet another in my growing list of "I told you so". Armstrong finally starting to realize what I told him years ago, that the Euro was designed from the beginning to federalized Europe.
http://www.armstrongeconomics.com/archives/34228
Quote
You Can Check-In for the Euro – But You Can Never Leave
...Brussels has a hidden clause that shows from the very beginning this was a covert action to federalize Europe displacing democratic institutions from the top down...
...This Article 352 allows the EU to wage economic war on any member state to force its will upon the people regardless of what they vote. This is an amazing authoritarian view for this is not just about maintaining a single currency, it is now all about centralized power. The EU is now in a position to carry out coercive measures against Greece that are completely outside any legal framework.
...Brussels has a hidden clause that shows from the very beginning this was a covert action to federalize Europe displacing democratic institutions from the top down...
...This Article 352 allows the EU to wage economic war on any member state to force its will upon the people regardless of what they vote. This is an amazing authoritarian view for this is not just about maintaining a single currency, it is now all about centralized power. The EU is now in a position to carry out coercive measures against Greece that are completely outside any legal framework.
http://www.nytimes.com/2015/07/02/business/international/greece-bailout-tsipras.html
Quote
With its banking system shut down and access to further aid cut off, Greece faced the prospect of further debt defaults...
...Chancellor Angela Merkel of Germany made clear on Tuesday that she favored waiting until after the Greek referendum on Sunday to reopen talks, and her finance minister, Wolfgang Schäuble, repeated that message on Wednesday after news of Mr. Tsipras’s letter became public.
...Chancellor Angela Merkel of Germany made clear on Tuesday that she favored waiting until after the Greek referendum on Sunday to reopen talks, and her finance minister, Wolfgang Schäuble, repeated that message on Wednesday after news of Mr. Tsipras’s letter became public.
I told you so:
http://www.armstrongeconomics.com/archives/34268
Quote
In a TV interview, Mr. Varoufakis said very clearly, “This is a very dark moment for Europe. They have closed our banks for the sole purpose of blackmailing what?
...
The Troika deliberately closed the banks to punish the people of Greece, and to show them what exiting the euro means. This appears to be their only way of diverting the crisis with orchestrating a fake “YES” vote to economic suicide. The Troika will attempt to rig the referendum as they did with the Scottish elections.
...
The Troika deliberately closed the banks to punish the people of Greece, and to show them what exiting the euro means. This appears to be their only way of diverting the crisis with orchestrating a fake “YES” vote to economic suicide. The Troika will attempt to rig the referendum as they did with the Scottish elections.
http://www.armstrongeconomics.com/archives/34373
Quote
EU Openly Wants To Overthrow the Greek Government
The Deutsche-Wirtschafts-Nachrichten is reporting that the head of the EU and Merkel are now openly calling for the overthrow of the Greek Government. It is their way or no way. To defend a failed Euro, they will not tolerate any democratic process that disagrees with their vision of a federalized Europe. This is World War III, just in economic domination coming from Brussels.
The President of the European Parliament, Martin Schulz, has stated that holding new elections in Greece is now mandatory when the people vote for the reform program of the creditors. He insists that any relief for the Greeks, which is blackmail keeping their banks closed, will be bridged with a technical transitional government until elections are held that approve only their candidates, and that this will be a requirement of further negotiations. “If this transitional government is a reasonable agreement with the donors, then Syriza time was over. Then Greece has another chance, ” said Schulz. This is outright dictatorship for not a single member of the Troika is elected by the people including the head of the IMF Christine Lagarde.
We have been forecasting a Crisis is Democracy would emerge by 2015.75 back at our 1985 conference. This is just how all societies collapse. Unfortunately, well – it is here.
The Deutsche-Wirtschafts-Nachrichten is reporting that the head of the EU and Merkel are now openly calling for the overthrow of the Greek Government. It is their way or no way. To defend a failed Euro, they will not tolerate any democratic process that disagrees with their vision of a federalized Europe. This is World War III, just in economic domination coming from Brussels.
The President of the European Parliament, Martin Schulz, has stated that holding new elections in Greece is now mandatory when the people vote for the reform program of the creditors. He insists that any relief for the Greeks, which is blackmail keeping their banks closed, will be bridged with a technical transitional government until elections are held that approve only their candidates, and that this will be a requirement of further negotiations. “If this transitional government is a reasonable agreement with the donors, then Syriza time was over. Then Greece has another chance, ” said Schulz. This is outright dictatorship for not a single member of the Troika is elected by the people including the head of the IMF Christine Lagarde.
We have been forecasting a Crisis is Democracy would emerge by 2015.75 back at our 1985 conference. This is just how all societies collapse. Unfortunately, well – it is here.
thanks!
