Genocide of the Greek Nation
By Paul
Craig Roberts
August
21, 2018 "Information
Clearing House"
- The political and media
cover-up of the genocide of the Greek Nation
began yesterday (August 20) with European Union
and other political statements announcing that
the Greek Crisis is over. What they mean is that
Greece is over, dead, and done with. It has been
exploited to the limit, and the carcas has been
thrown to the dogs.
350,000
Greeks, mainly the young and professionals, have
fled dead Greece. The birth rate is far below
the rate necessary to sustain the remaining
population. The austerity imposed on the Greek
people by the EU, the IMF, and the Greek
government has resulted in the contraction of
the Greek economy by 25%. The decline is the
equivalent of America’s Great Depression, but in
Greece the effects were worst. President
Franklin D. Roosevelt softened the impact of
massive unemployment with the Social Security
Act other elements of a social safety net such
as deposit insurance, and public works programs,
whereas the Greek government following the
orders from the IMF and EU worsened the impact
of massive unemployment by stripping away the
social safety net.
Traditionally, when a sovereign country, whether
by corruption, mismanagement, bad luck, or
unexpected events, found itself unable to repay
its debts, the country’s creditors wrote down
the debts to the level that the indebted country
could service.
With
Greece there was a game change. The European
Central Bank, led by Jean-Claude Trichet, and
the International Monetary Fund ruled that
Greece had to pay the full amount of interest
and principal on its government bonds held by
German, Dutch, French, and Italian banks.
How was
this to be achieved?
In two
ways, both of which greatly worsened the crisis,
leaving Greece today in a far worst position
that it was in at the beginning of the crisis
almost a decade ago.
At the
beginning of the “crisis,” which would have
easily been resolved by writing down part of the
debt, the Greek debt was 129% of Greek Gross
Domestic Product. Today Greek debt is 180% of
GDP.
Why?
Greece
was lent more money to pay interest to Greece’s
creditors, so that they would not have to lose
one cent. The additonal lending, called a
“bailout” by the presstitute financial media,
was not a bailout of Greece. It was a bailout of
Greece’s creditors.
The
Obama regime encouraged this bailout, because
the American banks, expecting a bailout, had
sold credit default swaps on Greek debt. Without
a bailout the US banks would have lost their bet
and paid default insurance on Greek Bonds.
Additionally, Greece was required to sell its
public assets to foreigners and to decimate the
Greek social safety net, reducing pensions, for
example, to below subsistance incomes and so
radically reducing medical care that people die
before they can get treatment.
If
memory serves, China bought the Greek seaports.
Germay bought the airport. Various German and
European entities bought the Greek municipal
water companies. Real estate speculators bought
protected Greek Islands for real estate
development.
This
plunder of Greek public property did not go
toward reducing the debt that Greek owed. It
went, along with the new loans, to paying the
interest.
The
debt, larger than ever still stands. The economy
is smaller than ever as is the Greek population
that bears the debt.
The
declaration that the Greek crisis is over is
merely a statement that there is nothing left to
extract from the Greek people for the interest
of the foreign banks. Greece is sinking fast.
All of the income associated with sea ports,
airport, municipal utilities, and the rest of
public property that was forcibly privatized now
belongs to foreigners who take the money out of
the country, thus further driving down the Greek
economy.
The
Greeks have not only had their economic future
stolen from them. They have also lost their
sovereignty. Greece is not a sovereign nation.
It is ruled by the EU and the IMF. In my 2013
book, The Failure of Laissez Faire
Capitalism, in Part III, “The End of
Sovereignty,” I described clearly how this was
done.
The
Greek people were betrayed by the Tsipras
government. They had the option of revolting and
using violence to overthrow the government that
sold them out to international bankers. Instead,
the Greeks accepted their own destruction and
did nothing. Essentially, the Greek population
committed mass suicide.
The
world financial crisis of 2008 is not over. It
has been swept under the rug of massive money
creation by the US, EU, UK, and Japanese central
banks. The creation of money has far outpaced
the growth of real output and has driven up
values of financial assets beyond what can be
supported by “conditions on the ground.”
How
this crisis plays out remains to be seen. It
could result in the destruction of Western
civilization. Will Dog eat dog? After Greece,
will it be Italy, Spain, Portugal, France,
Belgium, Australia, Canada, until none are left?
The
entirety of the Western World lives in lies
fomented by powerful economic interest groups to
serve their interests. There is no independent
media except online, and those elements are
being demonized and denied access. Peoples who
live in a world of controlled information have
no idea of what is happening to them. Therefore,
they cannot act in their interest.
Dr. Paul Craig Roberts was Assistant Secretary of
the Treasury for Economic Policy and associate
editor of the Wall Street Journal. He was
columnist for Business Week, Scripps Howard News
Service, and Creators Syndicate. He has had many
university appointments. His internet columns
have attracted a worldwide following. Roberts'
latest books are
The Failure of Laissez Faire
Capitalism and Economic Dissolution of the West,
How America Was Lost,
and
The Neoconservative Threat to
World Order.
The
views expressed in this article are solely those
of the author and do not necessarily reflect the
opinions of Information Clearing House.
See
also -
Germany’s European Empire:
In today’s Germany, politicians laud
“Europe” — while quietly using EU structures to
advance German national interests.
