Banks create money when they make loans. Greece could restore the liquidity desperately needed by its banks and its economy by nationalizing the banks and issuing digital loans backed by government guarantees to its ailing businesses. Greece could provide an inspiring model of sustainable prosperity for the world. But it is being strangled by a hegemonic power in a financial war that is being waged against us all.
On July 4, 2015, one day before the national vote on the austerity demands of Greece’s creditors, it was rumored in the Financial Times that Greek banks were preparing to “bail in” (or confiscate) depositor funds to replace the liquidity choked off by the European Central Bank.
The response of the Syriza government, to its credit, was “no way.” As reported in Zerohedge, the government was prepared to pursue three “nuclear options” to protect the deposits of the Greek people:
- nationalize the banks,
- launch a parallel currency in the form of electronic California-style IOUs, and
- use the Greek central bank’s printing press to issue euros.
Ambrose Evans-Pritchard wrote in the UK Telegraph:
Syriza sources say the Greek ministry of finance is examining options to take direct control of the banking system if need be rather than accept a draconian seizure of depositor savings – reportedly a ‘bail-in’ above a threshhold of €8,000 – and to prevent any banks being shut down on the orders of the ECB.
Government officials recognize that this would lead to an unprecedented rift with the EU authorities. But Syriza’s attitude at this stage is that their only defense against a hegemonic power is to fight guerrilla warfare. …
Clinton Asked Lanny Davis, Longtime Clinton Operative and Lobbyist for Pro-Coup Honduran Businesses, to Arrange Phone Meeting with Coup Dictator
Buried in the latest trove of Hillary Clinton emails made public last week are some missives that shed new light on the former Secretary of State’s role in seemingly undermining President Barack Obama’s policy in dealing with the 2009 coup d’état in Honduras.
The official emails recently made public by the State Department —more than 3,000 pages worth — were sent or received primarily in 2009 through Clinton’s private email account — via an email server set up outside the government’s system and used to conduct official business.
One email exchange discovered in the recently released batch of State Department communications reveals that Clinton personally signed off on continuing the flow of US funds to the putsch regime in Honduras in the fall of 2009 — even as the White House was telling the world that such aid had been suspended.
Another email exchange involving Clinton shows that she turned to a lobbyist employed by Honduran business interests suspected of orchestrating the coup to get access to the Roberto Micheletti, the “de facto” president of the putsch regime. Micheletti assumed power after the democratically elected president of Honduras, Manuel Zelaya, was removed from office at gunpoint on June 28, 2009. …
Clinton will be a worthy successor to all the previous torturers of latin america that have occupied the white house.