While the mainstream media and the political puppets in Europe keep spewing their crypto-racist propaganda about the “lazy Greeks” who spent more than they could afford and now need to be “saved” by taking away their right to choose their own rulers, it’s sobering to read this article by the investigating journalist Greg Palast, adapted from his new book Vultures’ Picnic: In Pursuit of Petroleum Pigs, Power Pirates, and High-Finance Carnivores (2011).
The article elaborates how a small group of American bankers have knowingly and deliberately driven national economies of different countries to the ground since the late 1990s. The story begins when the bankers lobbied the Clinton administration to repeal the Glass-Steagall Act in 1999, which allowed the large US banks to start dealing in “derivatives”, that is bets on the future value of assets. Using international organizations such as the World Bank and WTO as their tools, they basically blackmailed smaller nations to lift any restrictions to foreign banks they had in place for their local markets, thus allowing the US banks to dump their “products” that they knew perfectly well included worthless assets to pension funds the world over, causing local banks to collapse and resulting in the destruction of civil societies we can now see in various European countries. And now, of course, the banksters are back for the “fire sale” of national assets, as Palast puts it. There’s really no need to make up any conspiracies about secret societies, this is all happening in broad day light. The most shocking part of the whole story is that the whole scam was carried out in a perfectly legal way. Now if that doesn’t convince you that Western democracy is seriously broken, I don’t know what will.
Of course, these days the bankers no longer even need to actually engage in lobbying to squeeze profits out of the national treasuries now that the European elite has been kind enough to hand the formal ability to set laws straight to the bankers themselves. Really, you couldn’t make this shit up. The complete submissiveness of the political elite to even the most outrageous demands of the bankster gang simply boggles the mind. I have a terrible hunch that if we don’t do something about this madness now, there will come a day when our children will curse us bitterly for our passivity.