Thursday, July 16, 2015

How The BRICS Bank And AIIB Made Grexit (And Frexit?) Possible - Jeff Nielson

How The BRICS Bank And AIIB Made Grexit (And Frexit?) Possible - Jeff Nielson
By Jeff Nielson
 7 days ago
 1 comment

Over the past few days and (to a lesser extent) past few months, we have witnessed a remarkable series of events. First, we had a member (i.e. victim) of the corrupt European Union stand up to the bullies of the Troika, and say “no.” No, to more extortion. No, to more economic rape (via enslavement to debt). No, to the continuing/worsening infringement on its sovereignty.
Obviously that nation was Greece, a nation which everyone, including the new government of Greece, agrees is bankrupt. In the world of commerce, there is only one “solution” to bankruptcy: reduce the debt, if not eliminate it, completely. The corrupt EU, European Central Bank, and the International Monetary Fund have absolutely refused to consider any reduction in Greece’s debt-load. In other words; they have absolutely refused to consider helping Greece. Instead, this diabolical political/economic cabal dictated an ultimatum.

It demanded that Greece take on more debt, harming that economy even further under the weight of the additional interest payments on that debt, when it is already impossible for Greece to pay the interest on its current debt. And, as a “condition” for burying Greece under more, punitive debt, these economic sadists were also demanding that Greece implement more (suicidal) Austerity policies.
As previous commentaries have pointed out; Austerity kills. Every Eurozone nation which has engaged in this seemingly neo-Nazi, economic suicide has seen its economy get sicker, and its deficit problems getworse, not better. Thus every Eurozone nation – except Greece – has been allowed to back-off on this economic suicide, in order to prevent the total collapse of those economies, as well.
In simplest terms; for every 1 euro in “Austerity” cuts, the government loses 2 euros in revenues. It is not a path to economic salvation. Rather, it is the surest and most rapid means to complete the destruction of these already insolvent economies. Thus when Greece said “no” to more debt and more Austerity, it was doing nothing more than saying “yes” to common sense.
However, the tyrannical Troika would not accept “no” as an answer to their ultimatum. The Eurozone thugs tightened their choke-hold on Greece’s economy, trying to throttle it into submission. Simultaneously, they attacked the Greek people with their propaganda: any and every form of fear-mongering of which these tyrants could conceive.
As a response to the increasing lies, political pressure, and economic blackmail, Greece’s courageous government called a referendum. Officially, it was a referendum on saying “yes” or “no” to further Austerity suicide. Unofficially, it was a proxy on Greece continuing to be a member of the EU and a victim of its extortion/oppression.
Despite the lies of the Troika, despite the fear-mongering of the corrupt, corporate media and the now-reviled Establishment parties; the people of Greece voted “no” to more Austerity, and thus “no” to more EU sadism and the EU itself – with a resounding 60/40 majority. Alexis Tsipras, and his party Syriza now have a clear mandate to forge a new path for Greece.
As things stand today, it is a path which must result in “Grexit”: Greece’s exit from this now irredeemably corrupt political and economic straitjacket. The EU is offering nothing but more economic destruction, to an economy which it has already plundered/destroyed, thus Greece must leave the European Union. But Greece is not Iceland, and it is here where we must now refer to a parallel chain of “remarkable events”.
At virtually the same time that the EU (and its overlord, the One Bank) was beginning its latest campaign of economic terrorism against Greece, there was big news in the world of international finance. With China as the focal point; the Rest of the World (i.e. everywhere outside the corrupt Western bloc) announced the creation of two, new, international financial institutions.
On the one hand; we had the launching of the “BRICS Bank”: an institution for facilitating international finance, which as the name implies, was sponsored by the quasi-formal BRICS bloc (Brazil, Russia, India, China, and South Africa). On the other hand; we had the creation of the AIIB (Asian Infrastructure Investment Bank).
There is an obvious parallel between these two, new institutions, and two, thoroughly corrupted, Western-based institutions: the World Bank, and the International Monetary Fund. Where we have a parallel, we have an alternative, and where we have an alternative, we have choice.
As previously noted, Greece is not Iceland. When the government of Iceland, showing tremendous fortitude and wisdom, threw the One Bank out of its nation, entirely, and “burned its bridges” with the EU; circumstances were dramatically different from what is now faced by Greece.
To begin with, Iceland banished the Western financial crime syndicate before that cabal had managed to finish crippling its economy, and thus render it economically insolvent. Secondly, unlike Greece; Iceland wasn’t fully integrated into the EU crime-family. It still had its own, independent currency.
Iceland, too, was threatened-and-bullied by the banksters, and to a lesser extent, the EU itself. The government of Iceland, and the people of Iceland were warned that cutting their ties to the One Bank meant being “cut-off from international financial markets”, and thus international credit. But it was a hollow threat, because (being solvent) Iceland could afford to wean itself from these “financial markets” (i.e. more debt).
Indeed, doing so made its economy much healthier. This was so obvious, that by 2012, even the International Monetary Fund itself issued a reluctant mea culpa, which effectively acknowledged that Iceland was right, and everyone else in the remainder of the Corrupt West was wrong.
Iceland rejected the perversion of capitalism known as “too big to fail”, and followed the dictates of sound, financial management: it put-to-death its own, bloated, corrupt and bankrupt Big Banks. As a result, its economy immediately began to heal, and now thrives.
The rest of the West caved-in to the One Bank’s extortion, embraced the financial/economic insanity of “too big to fail”, and protected rather than exterminated the Big Bank tentacles of the One Bank in their own nations. Those nations and their economies, have continued to sicken-and-die. What a surprise!
This brings us back to Greece, and (potentially) other member-nations of the EU. Greece is not solvent. While it could resurrect its old currency, the drachma, this would be treated/regarded in financial markets as a “virgin” currency. It would require at the very least the “faith” of those international financial markets (if not direct support) in order to be viable. In other words; Greece, unlike Iceland, would not be financially self-sufficient.
Before the birth of the BRICS Bank and AIIB; this would have presented the government of Greece with (to put it mildly) a severe conundrum, if it chose to attempt to cut its financial, economic, and political ties with the corrupt, oppressive European Union. Renouncing the economic slavery of the EU directly implies renouncing Greece’s (European) debts, since it is economically impossible for it to continue to service those debts. In other words; it leads to some form of Debt Jubilee in Greece, which is where the “conundrum” rears its ugly head.
Because Greece’s economy has been so thoroughly destroyed by five years of suicidal Austerity, even after erasing most or all of its sovereign debts, it would still require some level of international support – at least over the short term. Before the creation of the BRICS Bank and the AIIB, the only international institutions set up to provide such assistance were the IMF and World Bank.
After shunning and enraging the EU and its corrupt banker overlords by first rejecting more of their economic slavery and then erasing their fraudulent bond debts; Greece’s government would have then had to immediately turn around, and go cap-in-hand to these Western institutions – seeking “help”.
We’ve already seen what sort of “help” the West is prepared to offer, with Greece still officially a friend-and-ally. One can only imagine the economic rape which would transpire if Tsipras and Syriza approached the West for financial assistance as an enemy, and ex-ally(?), instead. Simply contemplating the malevolence of that economic sadism would have likely been enough to cow Greece’s government into submission.
With the birth of the AIIB and BRICS Bank, however, Greece and other nations now have an alternative. With that “alternative” comes an escape-tunnel, from Western financial hegemony, and its economic exploitation. And with that escape-tunnel comes the political courage to stand-up to the financial pressures and extortion of the Troika Tyrants.
We see an iteration of this political courage, already, from outside of Greece, via the lips of the leader of France’s leading Opposition Party, Marie Le Pen (or “Madame Frexit”, as she has dubbed herself), currently ahead of the (corrupt) incumbent in France’s most-recent polling. Via Bloomberg:
Although Le Pen hasn’t given a full, detailed plan of how she would lead her country out of the euro, she doesn’t believe France would be shut out of the borrowing market or rejected by investors as a result[emphasis mine]
For “borrowing market”; read BRIC Bank. And for “investors”; read AIIB. Even if Marie Le Pen hasn’t already received formal overtures from the BRICS Bank and AIIB (or reached out to them, herself); clearly her perception is that leaving the EU would not, itself, simply be a different form of economic suicide.
Prior to the BRICS Bank and AIIB, Le Pen’s assertions and Greece’s needs would have been regarded as little more than wishful thinking. What’s the one thing worse than being an entity in dire, financial straits and approaching a banker for “help”? Being an entity in dire, financial straits, and approaching a banker who already hates your guts.
To all appearances, at least “a new Day has dawned” for Greece, the nations of the Rest of the World, and any other members/victims of the Corrupt West also seeking to reclaim their sovereignty, and find economic salvation for their people. Let’s hope that the reality which follows reflects these hopes for a better world.
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