14 June 2014



Since 2010 the “Troika” crime syndicate (the IMF and ECB, plus European Comission bureaucrats) have created about 200 billion euros ($265.5 billion) out of thin air on their computer keyboards, and lent it to Greece as “emergency funding.”

In return for this funny-money, the Troika gangsters demand more and more tribute, in the form of more and more austerity.

On Monday (10 June 2013) the Troika sent its goons to Athens to collect the latest installment in “protection” money. The bag men demanded 1.8 billion euros from privatization revenues by the end of September, plus another 700 million euros by the end of 2013. They also demanded that Greek Prime Minister Antonis Samaras fire at least 2,000 public employees.

They expected to full their suitcases right away with 900 million euros ($1.2 billion) from the sale of the Greece’s Public Gas Corporation (DEPA) to Gazprom, the Russian giant. However Gazprom withdrew the same day the Troika goons arrived. (The  Troika gangsters are demanding that politicians sell public assets, and send the sales proceeeds to Troika-connected investors.)

Gazprom said it was worried about DEPA’s “financial position.”

Translation: the Russians, still outraged by the Troika’s heist in Cyprus,  feared that after they bought DEPA, the Troika thieves would demand perpetual tribute from them.  Here’s how the Russians phrased it in public:

“We haven’t received enough guarantees that DEPA’s finance position would not get worse after the deal is completed. The company is already experiencing difficulties with users’ unpaid bills.” ~ Gazprom spokesman Sergei Kupriyanov. “

Gazprom already supplies about two thirds of DEPA’s natural gas, at princes 30 percent higher than Russia sells to other countries. So why purchase DEPA and have the Troika gangsters to fight with?

The Troika goons, led by Germany, are at economic war with Russia, using 333 million euro-zone slaves as disposable pawns. That’s why the Russians withdrew their Greek offer and physically departed from Athens on the same day the Troika goons arrived from Berlin to demand payment.

Mr. Samaras immediately apologized to the angry Troika goons by sacrificing 2,656 Greek workers to them. On Tuesday he shut down ERT (the state broadcasting station with three TV channels plus radio) thereby eliminating 2,656 jobs. Mr. Samaras did this by using special emergency powers — the same powers he uses to end strikes.

Many ERT staff members locked themselves inside the ERT building, and continued to broadcast via a live stream on the EBU website. Mr. Samaras wants them out, fearing they will broadcast anti-Troika messages.






Since the Greek government can no longer create its money, the government must borrow it, or else tax it from the people. Those 2,656 ERT employes had been collecting €328 million per year (£278 million, USD $437 million), which came from a €51 per household levy on energy bills. Now that €51 will go to “other uses.”

(The state broadcaster of Denmark, which has half the population of Greece, receives annual revenues equivalent to €518 million — but Denmark does not use the euro, and is therefore not under Troika tyranny “protection.”)

Meanwhile in Geneva, which is not part of the Troika domain (aka euro-zone) the European Broadcasting Union (EBU) represents all of Europe’s public service broadcasters.

On Thursday (two days after Greek PM Samaras shut down ERT) the EBU in Geneva told the news people in Athens that they could send their signal to Geneva, and the Swiss would broadcast it on three satellites: Hotbird 13A in Europe, APSTAR 7 in Asia and Intelsat 19 in Oceania.

However, only cable TV subscribers can watch these news broadcasts, and few Greeks can afford to buy cable TV anymore. So this won’t continue for very long.

Besides, the police are planning to storm the ERT building to take down the broadcast “terrorists” and defuse their “WMD’s” (i.e. cameras and other broadcasting equipment). Power will be cut to the ERT building nay day now.

Mr. Samaras says he will set up his own broadcast station later this summer. It will be a tight group of hand-picked propagandists for Mr. Samaras and the Troika.

Mr. Samaras and his right-wing cronies admit that Greece remains in a recession, but they call the recession a “recovery.”





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Liam Byrne is a British Labour Party politician who has been the Member of Parliament (MP) since 2004, and was the Chief Secretary to the Treasury from 2009 to 2010.

That is, Byrne was the lieutenant of the British finance minister (Chancellor of the Exchequer) — i.e. the number #2 man at the British Treasury.

In May 2010, parliament voted to replace Mr. Byrne of the Labour Party with David Laws of the Liberal Democrat party.

It is a convention for outgoing ministers to leave a note for their successors, advising them on how to settle into the job. Byrne left a note for Laws saying, “Dear chief secretary, I’m afraid there is no money. Kind regards – and good luck. Liam.”

This was meant as a joke, but Mr. Laws called it “honest.” (!!!!!)

As you know, the British government has Monetary Sovereignty, which means it creates money from nothing, simply by crediting bank accounts.

However, most politicians never miss a chance to claim that this is not so.






Many people once thought that wars and social unrest would increase because of shortages in food, fuel, and so on.

Social unrest is indeed increasing, but the shortages turned out to be in money, caused by gratuitous austerity. Around the world, the rich are imposing austerity in order to increase the gap between themselves and their “inferiors.”

According to the IMF, 119 governments are imposing austerity (i.e. reducing their deficits).

That’s 61% of all nations worldwide. Three-quarters of those are developing countries, including 21 low-income and 68 middle-income countries.

The IMF projects that  austerity will continue to worsen at least until 2015.

In poor countries the most common form of austerity is to reduce or eliminate food and fuel subsidies, even as the price of food and fuel continues to rise. Governments in 78 developing countries are doing this, or planning to do this. (Even Iran is doing this.)

Social programs and social services are likewise being cut. Teachers, firemen, trash collectors, etc. are being axed across the planet.


At least 63 developing countries are considering raising consumption taxes, such as the value-added tax. These are put on basic foods and household items in order to further impoversh the lower classes, thereby widening the gap between them and the rich.

And still — STILL — most people reject the facts of Monetary Sovereignty, or they simply don’t care.

Even “progressives” defend the lies.




Canadian Prime Minister Stephen Harper recently addressed the Canadian parliament, praising Euro-zone governments for imposing ever-harsher austerity, saying it was necessary to destroy heal their economies, which have been battered by ever harsher austerity.

Mr. Harper told British lawmakers that governments need to live within their means. This includes Monetarly Soverteign governments that create money from nothing, and therefore have no “means.”

He said that Canada needed more austerity in order to widen the gap between the rich and the rest remain strong.





BNP Paribas is the third largest banking conglomerate in the world. It was formed through the merger of Banque Nationale de Paris and Paribas in 2000, and is now headquartered in Paris and London.

Luigi Speranza, one of the company’s bullshitters economists in London, claims that Spain’s economy will end its recession next year, and will grow through 2015, because the Troika has eased its demands for budget cuts.


First, Spain’s austerity and its recession will continue to increase no matter what, since Spain must borrow all its money.

Second, austerity takes two main forms: fiscal and legal.

Fiscal austerity occurs as spending cuts and / or tax increases.

Legal austerity occurs as deregulation, privatization, the firing of public workers, the overturning of labor laws, changes in the constitution to benefit the rich, and so on. This is called “reform,” or “fiscal consolidation,” or “structural adjustment.”

Both forms of austerity keep nations in recession, and widen the gap between the 1% and 99%.

The Troika gangsters have forced as much fiscal austerity on their victims as they possibly could — for the moment.

Hence the gangsters have temporarily switched their emphasis to legal austerity.

The gangsters, the politicians, and morons like this Luigi Spermacetti use this to claim that “austerity is over.” (!!)

The shift in emphasis also lets gangster groups like the IMF claim they “made a mistake” in imposing austerity, while they continue to impose more austerity. In “apologizing,” the IMF means that fiscal austerity has reached its limit, so now it’s time to increase legal austerity.

Of course, no matter how many times the bullshitters economists are proven wrong, the media keeps printing their bullshit opinions.




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