Greeks resisting the IMF bailout!!!

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Subprime JD's picture
Subprime JD
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Greeks resisting the IMF bailout!!!

These pics say it all

 

And this:

 

 

And this:

 

 

This nasty photo...

The sign in the background says "tonight fascism dies"

 

And for the grand finale, thousands of people surrounding the greek parliament. It will only be a matter of time until the current government falls.

 

 

 

The article headline says it all. Its a short article read it.

Majority of Greeks support more protests: polls

http://www.reuters.com/article/idUSTRE64718W20100508

 

BMT here: The people of Greece are waking up to the reality that if they recieve the IMF loans they will be screwed for the longest time. The debt data has been factored in and the people know that they will be in even more debt if they recieve the loan. The know that they will suffer hardship by defaulting but the sooner the better.

Last night I was watching a greek tv show that discusses current events and they said that "we are now paying the price for our apathy for the past 15 years. We all knew what type of corruption was going on but we didnt do anything about it. Now is our last chance otherwise we will be beholden to IMF and foreign nations. We must accept responsibilty for our inaction, and must now move forward with action." This is a paraphrasing but thats what they were discussing more or less.

The American people have suffered more than the greeks have. How many foreclosed homes, repoed cars, medical bankrputcies, student loan slavery, hefty police fines and arrests, poisoned food and water, and many other things. How many banker bailouts, TALF's, TARPS, TAF's will we accept until we rise up? This is what scares me most about america, that people will sit back and take it, because they still believe in the american dream. Of course, you have to be asleep to believe it such nonsense. Wake up!!!

 

 

 

Vanityfox451's picture
Vanityfox451
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Those Of The USA Take Note ...

BMT,

I've spent many an hour talking with Greeks of all ages in Syntagma Square, the bottom picture where the crowds are forming revolt. I can tell you with total honesty, the people of Greece are going to get their country back, and that they will be the poster child, for every country being raped by the IMF.

As you know, this journey toward independents is going to be severe, yet, the outcome, with time and tenacity, will be a better future than perpetual debt.

You can't have the sweet without the sour ...

καλή υγεία (Good Health),

~ VF ~

agitating prop's picture
agitating prop
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Re: Greeks resisting the IMF bailout!!!

Good for the Greeks. Globalization, as it is presently configured could be dead. Three cheers!

docmims's picture
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Re: Greeks resisting the IMF bailout!!!

They are going to end up with a Communist dictator which is fine with the banksters, because communist governments are much easier to influence and control.  Example: Stalin starving 10 million of his people to raise money for the banksters to industrialize Russia.  Maybe a caring, environmentally correct, and uncorruptable leader will come out on top,  Surprised

EndGamePlayer's picture
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Re: Greeks resisting the IMF bailout!!!

My thoughts - the IMF thought they would come in and look like the "good guys" with their offers of money and the Greeks would then be the first country under the New World Finacial Order and the rest of EU would crumble.

The best thing for them to do - take their money out of banks and keep on their leadrers the way they have.

They have my admiration - we should have done that in the US with the bail outs. Now our grandchildren will be paying the price for many lifetimes to come.

Vanityfox451's picture
Vanityfox451
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Re: Greeks resisting the IMF bailout!!!

Greece will be comparable to this: -

Argentina's Economic Collapse

http://video.google.com/videoplay?docid=4353655982817317115

... but will hopefully go the next step: -

The Take

http://video.google.com/videoplay?docid=8149373547373833649

[quote=]

Luis Zamora ~ Member of Parliament

"Workers without ideology, without trying to prove anything, out of necessity, are putting factories back to work. It is exactly what capitalism, every day, tries to prove is impossible."

τον καλύτερό μου,

~ VF ~

agitating prop's picture
agitating prop
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Re: Greeks resisting the IMF bailout!!!
docmims wrote:

They are going to end up with a Communist dictator which is fine with the banksters, because communist governments are much easier to influence and control.  Example: Stalin starving 10 million of his people to raise money for the banksters to industrialize Russia.  Maybe a caring, environmentally correct, and uncorruptable leader will come out on top,  Surprised

It's doubtful anything like a Russian style monolith of centralized communism would rise from the ashes of corruption. The Greeks are probably as distrustful of the horrors of the far left as they are the manipulations and criminal behaviour of the banksters.

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Re: Greeks resisting the IMF bailout!!!

What Greeks have in common with Argentines is that they are willing to go out into the streets to voice their displeasure. Americans, not so much. Huge protests against the Iraq war in February 2003 had no effect. A new tradition of 'protest pens,' far from the scene of the action, was invented. Practically speaking, the land of free speech (Amendment I of the U.S. Constitution) is less free than other places with weaker legal guarantees. It is a lot easier to get arrested for protesting here -- for blocking the sidewalk, lacking a permit, etc. etc.

My guess -- you can see signs of it already -- is that U.S. authorities will try to turn Americans against each other by stoking class, political and  ethnic resentments, in order to deflect attention from themselves and their continued looting. If that doesn't work, there's always the ever-ready terrorist bogeyman.

Greece is America in microcosm. The IMF's involvement is a wake-up call. So far, the U.S. hasn't been put under creditor supervision. By the time it happens, it will be way too late. The IMF is not large enough to rescue the U.S., nor can they 'print us some oil.'

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Re: Greeks resisting the IMF bailout!!!
EndGamePlayer wrote:

My thoughts - the IMF thought they would come in and look like the "good guys" with their offers of money and the Greeks would then be the first country under the New World Finacial Order and the rest of EU would crumble.

The best thing for them to do - take their money out of banks and keep on their leadrers the way they have.

They have my admiration - we should have done that in the US with the bail outs. Now our grandchildren will be paying the price for many lifetimes to come.

I agree we should say no to the IMF.  I disagree that our children will be paying for it.  WE will and probably pretty soon. I think we will see a dollar devaluation, debt writedown or outright default within this decade.  I hope the banksters choke on their paper.

Subprime JD's picture
Subprime JD
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Re: Greeks resisting the IMF bailout!!!

Citizens across the world are going to suffer the consequences of ignorance, inaction, apathy and just assuming the system would work just fine. Last night I got into a screaming match with my mom and her friend. I said that they also had their part in wrecking the country. I shouted "how many antiwar protests did you attend? NONE."

Greeks also knew about the corruption but also assumed the system would work for them. When the system stops working for many thats when the anger comes. The anger came to late and now they have to pay the price. Imagine if they believed the bs being sprouted from their leaders and agreed to take the IMF money and just ended up in more debt. Now that would really suck.

Americans are seeing the national debt rise month by month. As you all know from my posts that I have many convos with many people i dont know. People are no longer saying the old "its going to get better in a few years, it always does". Now im hearing "its another depression". Yesterday, my neighbor a very wealthy guy says hes just begging for someone to sh*ot a politcian because americans have guns and they need to use them! The point is that im hearing some angry and concerned comments from people who months ago thought that we were going through a severe form of the run of the mill recession. Even my dad the permabull of permabulls is starting to realize that the entire financial system is going to go to shit.

A possible catalyst for the shift in peoples comfort was watching the "crisis" reappear in Europe. Now this is what most sheeple know (that greece and maybe protugal and spain could be in trouble), as we know that China's housing bubble and UK, Spain, Japan are huge risks coming soon. As the general public starts seeing more and more trouble worldwide and continued weakness in our economy the anger will start to build. Make no mistake things are different than pre lehman. Goldman sachs and JP Morgan Chase are household names now. People are learning about the fed. Congress has 9% approval rating. Wars and wars and oil spills and oil slicks and foreclosures, defaults, food stamps, bankruptcies are like a large bell that keeps ringing, slowly but surely waking the american people from their slumber.

The fabric of greek political stability was much thinner than the US. Greece is a young democracy, and was under monarchs, and dictatorships in the 1900's. With the sting of the Junta of 1974, Greeks are extremely wary of police and government power. The US, by and large has had a stable union, with relative peace amongst its borders since the 1860's. As a more mature and wealthier plutocratic democracy it will take more time and more atrocities before the american citizen is shaken with anger. The american still believes in the system, in the economy, he still believes that there is a chance that he will make it. So he stays calm and chuggs along. When the confidence of future opportunity vanishes, coupled by the knowledge that the system is gained to the advantage for those at the top, thats when the bricks start flying here as well.

 

agitating prop's picture
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Re: Greeks resisting the IMF bailout!!!
machinehead wrote:

 The IMF is not large enough to rescue the U.S., nor can they 'print us some oil.'

This, to me, is the best argument against a deflationary outcome, for the U.S. Factor oil out of the equation, and a stronger case could be made for  the U.S, cordoned off from the rest of the world, limping along in self reliance mode. It's citizens unable or unwilling to borrow, and prices responding accordingly.   But the govt will print like crazy, in an attempt to confront the rising cost of oil, priced in U.S. dollars and oil will respond by becoming pricier in dollars, in a never ending positive feedback loop. Unless some of that cash is used to reboot the economy with a Manhattan project style drive to replace oil with alternatives,  hyper inflation could be assured--particularly if China, India, Brazil, keep growing.

 

Subprime JD's picture
Subprime JD
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Re: Greeks resisting the IMF bailout!!!

the U.S, cordoned off from the rest of the world, limping along in self reliance mode

 

Many argue that because we owe the majority of money to ourselves, that we cannot have a true default. This is actually a horrible situation because in the end our own populace gets stiffed. Public/private pensions, SSI and medicare being so huge that they wont be paid back in current dollars. The few trillion owed overseas pales in comparison to what our own citizens are owed. Whats a few trillion in treasury paper vs 100+ trillion in public/private debt and unfunded liabilties owed to our own citizens and financial institutions? Y=

Subprime JD's picture
Subprime JD
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Re: Greeks resisting the IMF bailout!!!

the U.S, cordoned off from the rest of the world, limping along in self reliance mode

 

Many argue that because we owe the majority of money to ourselves, that we cannot have a true default. This is actually a horrible situation because in the end our own populace gets stiffed. Public/private pensions, SSI and medicare being so huge that they wont be paid back in current dollars. The few trillion owed overseas pales in comparison to what our own citizens are owed. Whats a few trillion in treasury paper vs 100+ trillion in public/private debt and unfunded liabilties owed to our own citizens and financial institutions? Y=

Subprime JD's picture
Subprime JD
Status: Platinum Member (Offline)
Joined: Feb 17 2009
Posts: 562
Re: Greeks resisting the IMF bailout!!!

the U.S, cordoned off from the rest of the world, limping along in self reliance mode

 

Many argue that because we owe the majority of money to ourselves, that we cannot have a true default. This is actually a horrible situation because in the end our own populace gets stiffed. Public/private pensions, SSI and medicare being so huge that they wont be paid back in current dollars. The few trillion owed overseas pales in comparison to what our own citizens are owed. Whats a few trillion in treasury paper vs 100+ trillion in public/private debt and unfunded liabilties owed to our own citizens and financial institutions? Y=

machinehead's picture
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Re: Greeks resisting the IMF bailout!!!

Just as one small example of what agitating prop is talking about -- Brazilian ethanol, made from cheap sugar cane, is kept out of the U.S. by tariffs. Instead, the U.S. created its own ethanol industry, burning midwestern corn (i.e., food). It's already gone through a full cycle of overbuilding, a corn price spike, and a shakeout of ethanol producers. All of this was politically motivated malinvestment. We could have bought cheap Brazilian ethanol, and used the capital wasted on ethanol plants to develop energy alternatives.

By the time a desperate Congress lifts the tariffs on Brazilian ethanol, their sale terms will be C.O.D. -- Cash on Delivery. In Brazilian reais, thank you very much.

machinehead's picture
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Re: Greeks resisting the IMF bailout!!!

European finance ministers are meeting now -- Sunday afternoon. Rumors are circulating about additional funding in the range of 60 to 70 billion euros, to defend the euro currency and any member states in difficulty.

The rumors may not pan out. But if true, I don't think 60 or 70 billion will be anywhere near enough. Europe is still playing catch-up, as the crisis rolls on beyond their grasp.

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Re: Greeks resisting the IMF bailout!!!

Here's a note just handed to Germany's interior minister, who's chairing the emergency meeting. His face goes pale:

May 9 (Bloomberg) -- Chancellor Angela Merkel’s party unexpectedly lost control of Germany’s most populous state in a regional election, television projections showed, potentially swinging the balance of power in Berlin and dealing Merkel a blow after criticism of her handling of the Greek crisis.

Merkel’s Christian Democratic Union, or CDU, took 34.3 percent in today’s election in North Rhine-Westphalia, and the opposition Social Democrats 34.7 percent, latest projections showed. The Greens took 12.3 percent, the Free Democrats 6.7 percent and the Left Party 5.7 percent, enough to win seats in the state parliament in Dusseldorf for the first time.

The results may give the Social Democrats and Greens a slim majority, ending the CDU-led coalition that has governed North Rhine-Westphalia, or NRW, since 2005. That would cost Merkel her majority in the upper house of parliament in Berlin, where Germany’s 16 states are represented.

“This is a double blow to confidence in Merkel’s party: a rout at regional level that’s sent a huge wave to the national coalition,” Hans-Juergen Hoffmann, managing director of Berlin- based polling company Psephos, said in an interview. “Her own bedrock CDU voters are worried. The crisis is spinning out of control and confidence in her ability to tame it is evaporating.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aOERePehQ1mA&pos=9

 

 

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