Below, find maalamalama_Vlog_001, “The Only Sustainable Solution for the Greek Debt Problem”, where I discuss three steps Syriza must take to solve their unsustainable debt problem: (1) Declare all EU imposed debt as illegitimate; (2) Arrest all bankers imposing this illegitimate debt upon Greece; and (3) Return Greece to sound money and return Greek banks to banking functions only while outlawing all bank operations that put client deposits at high risk. We explain the above in more detail as Syriza has just foolishly accepted the THIRD troika bailout of themselves and further austerity measures that will doom all Greeks to bank enslavement and debt for multi-generations.
to watch maalamalama_Vlog_001, click on the above image, then click on the text “watch this video on youtube”
Here is the transcript of the video above:
A couple of weeks ago, I read a story, Mr. Alexis Tsipras, about a story emanating from the Greek newspaper To Vima that you had asked Russia’s President Vladimir Putin for a $10 B loan to print drachmas . I’ve heard people refer to To Vima as the equivalent to the Mirror in the UK and the National Enquirer in the US though I really have no idea if this is true or not since I don’t know anyone that has ever read To Vima and can tell me a firsthand account about it. In any event, the irony is that people actually believe mainstream financial publications like Ruport Murdoch’s Wall Street Journal, or the UK Financial Times, the NY Times, Forbes and Fortune magazines are “credible” when often the financial news reported by these mainstream publications are as credible as a report about an alien abduction, yeti or bigfoot sighting that appears in the US national enquirer gossip rag. In fact, the only journalist I know of that wrote for any of those publications that was credible when it came to reporting about financial matters was Pedro de Costa, who recently just resigned, or more likely, was forced out from the Wall Street Journal, so now I don’t know of any. However, further revelations from ZeroHedge seems to point to the plausibility of your ask of Putin, Mr. Tsipras, actually having happened, though it was ridiculed earlier. According to the Financial Times, Former Greek Energy Minister Panayotis Lafazanis convened a “secret” meeting at the Oscar Hotel in Athens on July 14 at which he attempted to convince Syriza hardliners to storm the Greek mint, seize the country’s currency reserves, and, if necessary, arrest central bank governor Yannis Stournaras. Too bad he didn’t succeed, because that would have been the first correct step that they would have taken so far.
In addition, Greek news website Kathimirini reported that Mr. Varoufakis, as the former finance minster, that you had been “authorized by Alexis Tsipras last December to look into a parallel payment system that would operate using wiretapped tax registration numbers (AFMs) and could eventually work as a parallel banking system.” According to this report, Mr Varoufakis, you “claimed to have been given the okay by Tsipras last December – a month before general elections that brought SYRIZA to power – to plan a payment system that could operate in euros but which could be changed into drachmas “overnight” if necessary. The plan would involve hijacking the AFMs of taxpayers and corporations by hacking into General Secretariat of Public Revenues website. This would allow the creation of a parallel system that could operate if banks were forced to close and which would allow payments to be made between third parties and the state and could eventually lead to the creation of a parallel banking system.” The report continues,” Varoufakis said he assigned a childhood friend of his, an information technology expert who became a professor at Columbia University, to hack into the system. A week after Varouakis took over the ministry, he said the friend telephoned him and said he had “control” of the hardware but not the software “which belongs to the troika.”
These excerpts were extracted directly from a recorded phone conversation of yours, Mr. Varoufakis, so the idea of a parallel currency system in Greece that could function despite closures of all banks in Greece by the ECB, IMF and World Bank troika was not speculation but a factual plan, even though it was never executed. Mr. Varoufakis stated “This was very well developed and I think it would have made a very big difference because very soon we could have extended it, using apps on smartphones and it could become a functioning parallel system and of course this would be euro denominated but at the drop of a hat it could be converted to a new drachma.” However, Mr. Varoufakis, in the same story, you stated, “But let me tell you – and this is quite a fascinating story – what difficulties I faced. The General Secretary of Public Revenues within my ministry is controlled fully and directly by the troika. It was not under control of my ministry, of me as minister, it was controlled by Brussels. The general secretary is appointed effectively through a process which is troika-controlled and the whole mechanism within. It’s like the Inland Revenue in the UK being controlled by Brussels. I am sure as you are hearing these words your hair is standing on end.”
About Germany’s finance minister Wolfgang Shauble, this is what Varoufakis said: “Schaeuble has a plan. The way he described it to me is very simple. He believes that the eurozone is not sustainable …he said explicitly to me that a Grexit is going to equip him with sufficient bargaining, sufficient terrorising power in order to impose upon the French that which Paris has been resisting. And what is that? A degree of transfer of budget making powers from Paris to Brussels.”
At one point, Mr. Varoufakis and Mr. Tsipras, you both seemed to be on the same page as far as finding a sustainable solution for Greece but now your paths seemed to have diverged, with Mr. Tsipras seemingly willing to abandon a sustainable solution for an unsustainable one, unless you both are crafting a brilliant chess game whose end goal you have not yet revealed. Because of your seemingly 180, Mr. Tsipras, many are now claiming that only Mr. Varoufakis was willing to fight for the Greek people while you were always willing to sacrifice yourself as a pawn to be used for the purposes of George Soros and the troika. I have no idea whether this is true, and In my eyes, the knowledge of this is irrelevant because if you really want to return Greece to a nation of prosperity, Mr. Tsipras and Mr. Varoufakis, this is what you need to do, as the actions, and not the words of politicians, are how all people judge a politician’s integrity, or lake thereof, and legacy.
#1. DECLARE ALL GREEK DEBTS ILLEGITIMATE
#1 Declare all Greek debts imposed by the IMF and the ECB as what they really are, -illegitimate. Absolve Greece and the Greek people from this illegitimate debts and declare Greece debt free from all the debts imposed upon your nation to draw you into the EU. Goldman Sachs bankers immorally structured Greek’s debt to mask its true deficit to allow Greece to be part of the EU when Greece never should have joined the EU . At the time, to gain admission into the EU the rules stipulated that countries couldn’t exceed 60% total govt debt to GDP ratios, Greece is now approaching 1000% total debt to GDP. Obviously, Goldman Sachs bankers are largely to blame for this massive growth of Greek debt to GDP of nearly 1000% happen GS bankers restructured Greece’s debt to hide their true debt from the EU. the Same happened with Italy and many other EU countries now wallowing in unsustainable and unpayable debt. Since it’s illegitimate, write it off your books.
#2. ARREST ALL BANKERS IN YOUR COUNTRY
Declare all global bankers for what they are – plundering and pillaging thieves and drive every single last one of them out of Greece by putting out all points bulletins for their immediate arrest and incarceration for life with no chance of parole. Regarding this one, of course I don’t mean arrest 100% of the bankers in your country but arrest the ones that are plundering and pillaging your country now. You know who they are. And overhaul the entire banking system in your country and return banking to banking. Kick out all the banks masquerading as casinos for the bankers and hedge funds in your country and only allow banks to operate in you country if they agree to operate like a bank. If you don’t know what this means, study the operations of the 1609 bank of Amsterdam to provide the model for how every bank in your country must operate.
#3. ESTABLISH A SOUND MONETARY SYSTEM
This is the most important step. Hold on to your 112.5 tonnes of gold reserves and use it to establish a gold standard monetary system.
It’s almost a blessing that the secret parallel monetary system in which Euros could be converted to drachmas didn’t work out because changing Euros into drachmas for use in Greece is trading a ticking time bomb with a short fuse for a ticking time bomb with a longer fuse. Drachmas, as a fiat currency with no intrinsic value other than the computer bytes upon which they would have been stored, is not a long-term solution as all fiat currencies are an illegitimate, fraudulent and counterfeit form of currency. Mr. Varoufakis did mention a new drachma, however, and if this drachma were 100% backed by gold or silver than the new drachma would have been acceptable. However, a new fiat drachma backed by nothing but the empty promises of bankers, would not.
Mr. Tsipras, if you don’t know understand why a gold standard would pull your country out of a future with zero hope, as it stands now, and return it to a track of recovery and eventually solid sustainable growth, with a real chance of economic prosperity at some point many years down the road, then contact me. If you truly were debating whether to use the Euro or return to the Drachma as Greek’s national currency, then I would say that you don’t understand the difference between unsound and sound money or the definition of a real gold standard. If you did, then you would have secretly planned to return Greece to a gold standard, not the drachma.
A gold standard is often wrongly defined as a fixed convertibility between a currency and gold whereby a nation’s gold reserves provides a limit to how much currency it can issue. However, this is not the real definition of a true gold standard, but rather the definition of the gold-component system that existed from 1944 to 1971 under the Bretton Woods system. This was not a true gold standard as this gold component standard still served the interests of the bankers first and foremost and not the interest of the people as it should. Under a true gold standard, the only thing that should be fixed is the weight of gold that is to serve as the monetary unit in that nation. Furthermore that fact that most people believe a gold standard limits how much currency a nation can issue already reveals that the majority of people’s understanding of a real gold standard is wrong, because under a real gold standard, the amount of gold backing the standard would never constrain economic growth. While it is true that gold would serve as constraint on banker manipulation of asset prices and the creation of bubbles, this is a hugely different concept and BENEFIT than saying that gold would serve as a constraint on economic growth, which is the very false description of a gold standard that bankers want you to believe . A fractional reserve gold component system like Bretton Woods can not be a true gold standard. A system in which all other global currencies must maintain a fixed exchange rate within a very small margin of fluctuation to the US dollar, as was the structure set up by US bankers under Bretton Woods, can not possibly be a gold standard as it violates every principle of a real gold standard
If you think the price of gold is too low right now to support a return to a true gold standard, then watch my upcoming video Ounces over dollars, and you will understand why this belief is false. And lastly, Mr. Tsipras If you don’t think that your country does not have enough gold to return your country to a gold standard then you don’t understand what is a real gold standard. Because there is no country in the world today whose currency is officially on a gold standard, your country’s new gold currency would immediately become the strongest currency in the world and immediately start Greece on the road to recovery. And if you so desired, you could take your gold reserves and convert them into silver and also put your country on a silver standard. If you understand what is real money, then you would understand that the false prices that bankers have currently established for gold and silver, gives you enormous value in regards to price if you were to purchase gold and silver during the final phases of this banker manipulation of prices lower.
So you better gain an understanding before the troika seizes every last ounce of the 3,616,875 troy ounces of gold that the Greek government holds for the Greek people. For if you allow the troika to raid, plunder and steal your people’s gold as is surely their plan under this third bailout, then all hope for Greece will be extinguished at this point.
If you don’t understand why this is Mr. Tsipras then call me and I will be happy to explain what a real gold standard is and how it should work in Greece. The difference between a real gold standard and the banker definition of a gold standard is as significant as the difference between night and day.
Keynes himself said that “There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency” and that not one in a million men would understand this statement. This statement also means that anyone that wants to continue using the Euro or thinks that a return to the use of a Greek fiat drachma would save Greece also has zero comprehension of this statement.
US Central Banker Alan Greenspan, in congressional testimony on 17 February 2000 testified that he could not define money. That was a total lie. Greenspan merely refused to define money not because he could not, but rather because if he did, then everyone would have realized 15 years ago that we are using counterfeit and fake fiat currencies that all lack the most essential qualities that all sound money must possess. I’m not going to tell you what are these essential qualities that the Euro, pound, yen, and dollar all lack, because I want you to think about whether or not you know what these essential qualities are, as I’ve identified nine of these essential qualities myself. If you find that you can’t define these nine qualities that all money should have, Mr. Tsipras, then is it really far-fetched to think that your understanding of a gold standard may be totally twisted and damaged by centuries of banker propaganda. Keynes said that not one in a million men would understand why devaluing fiat currencies is exactly the same as “overturning the very basis and foundation of a fair and equitable society”. If you understood this, then you would understand that keeping the Euro as the currency for Greece is not a temporary reprieve, but instead a certain death sentence for your people.
I also believe that not one in a million men really understand what is a true gold standard, how it should be set up and how it should be carried out. So that this open letter to you , Mr. Tsipras doesn’t go on forever, I will lay out some more details of how a real gold standard should operate in upcoming videos. Please watch my What is the fair value of gold and ounces over dollars videos that I will release in the coming weeks.
Finally, to all Greek people, we stand in solidarity with you because as I said above, the US is Greece, Spain is Greece, Italy is Greece, France Is Greece, and all other countries that are being looted by criminal bankers will be having the exact same struggles you are having in your country if we do not stand up to them right now. I want to leave you, the Greek people, with one final thought. If the Greek government does not give you what you want, you still have the power to fight back. Bankers want you to think that you have no power and no choice but to lie down at their feet so they can step on your heads as they collect their money and empty your country’s bank accounts and gold reserves and loot your country’s assets. However, even as terrible as things are economically in Greece right now, if all Greek citizens united, refused to deal in Euros, converted as many of your Euros into physical gold or physical silver (take your choice), you could start dozens of local and regional underground black markets in which you only bartered using the sound money of precious metals. You could get around the immoral 10% vat tax on food and other basic necessities of life because you could rebel and report nothing about these transactions using precious metals to the bankers. And by this time, you would have routed the bankers from your country already, right? Your Greek cities could pool money to buy ultrasound machines that can test for the purity of gold and silver to ensure the purity of precious metals circulating in the Greek economy. Think about it. Return to precious metals, kick out the criminal bankers from your country, and lead the world back to monetary freedom.
There are millions of Americans that to make a statement that the US is Greece when it comes to the debt situation is idiotic. And you’re right it is idiotic because the US situation is likely worse than Greece’s situation from a strictly numerical perspective.. Greece’s net government liabilities, according to SocGen’s Albert Edwards, are rapidly approaching 1000%, an obviously unsustainable situation. In the US, a couple of Congressmen stated that the US debt to GDP ratio was over 500% if one used the amount of government bonds outstanding at $87 trillion compared to the US GDP of $17.4 trillion.
Boston University economist Laurence Kotlikoff says when he calculates US debt by the way you’re supposed to do it, not by the way deceitful bankers and politicians calculate it, that it’s not $87 trillion but more than double that amount. If you include unfunded liabilities like Social Security payments, health care and Medicare payments, Medicaid payments, and defense expenditures, which are all real liabilities than the real US government debt balloons from $87 trillion to $222 trillion. Regarding this fiscal gap of unfunded liabiltiies, the US is in the worst shape economically of any developed country in the world, even worse than Greece. Furthermore, anyone that understands an iota of how the US government calculates its GDP knows that the “official” number of $17.4 trillion is also a false number, and that “official” GDP numbers are always artificially inflated to make it appear that GDP growth is positive when indeed it is already negative. But even using this artificially inflated GDP number, the US debt to GDP ratio is 1,276%, the real number somewhere north of this, when compared to Greece that is not yet at 1,000%. The only, and I do mean, the only reason, Greece is in dire economic straits and the US is on that downward slope but not yet comparable to Greece’s situation is because Greece doesn’t have private bankers like the US does in the form of Janet Yellen and Fed reserve bankers that can create unlimited currencies, out of nothing, to meet whatever debt and interest payments are due to pay down the debt. Eventually this foolish practice will end of killing the US dollar.
I don’t mean the USD has to go the way of the Z dollar where it will eventually cost Americans more than 1.4 billion to buy a meal but anyone that understands even the slightest sliver about real economics will understand that the US dollar in its current form can not and will not survive. And when it has to be replaced by a new currency, and it will and it will soon, that will mean that the USD was hyperinflated into death as cancelling out the existence of the current dollar and replacing it with a new one can have no other interpretation.
To all Greek people, the current course your government has set for you ensures the enslavement not only you but your children and likely your grandchildren for more than the next half of a century. That is why the rescinding of these austerity measures imposed by the bailout and the 3 measures I outlined early on in this video is your only choice and the only plan that will allow you to restore freedom and prosperity to Greece. You want to stop the numerous Greek businesses that are planning to flee Greece due to draconian capital controls that are part of the banker bailout plan? Implement a gold or silver standard that illustrates your commitment to the future of your people and you have a chance of keeping these businesses at home. You lose these businesses because of draconian austerity measures the troika is imposing upon them were they to stay home and the future becomes even more bleak. Stay in the Euro, and you have a good chance of driving all Greeks into poverty. Exit the Euro, and return to a fiat drachma, and you still have a good chance of being driven into poverty. Exiting the Euro and the EU is not the solution alone. Exiting and then making the proper choice of how to rebuild is essential. Remember, if you do as I say, the whole world will stand behind you because it’s not just in Greece that people are tired of criminal bankers. People in every nation in the world are tired and looking for a nation to rally around. Let your country, Greek people, be that rallying point. THE END
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