Sunday, October 9, 2011

The monstrous fact. From bail-outs to debt peonage.

Click here to access article by David Malone from his blog, Golem XIV. 

The author examines the current plan formulated by the Western capitalist ruling class called the  European Financial Stability Facility (EFSF) to find what it is really all about:
The trick is that the money paid will now not be a ‘bail out’ it will be an ‘investment’. We won’t be bailing out the banks, they’ll be bailing us out (with money we have given them and to asset strip the Greek people – but we won’t talk about that will we). We will have all been pulled through the financial looking glass. And better yet, the amount of return will not be simply what the banks could get by forcing Greece to flog its ‘assets’ today, but will be the whole future income from those assets as well. Rather than give Greece what it needs or even just force it to sell what you want as payment of its debts, even better is to force the nation and its people in to a long term debt peonage.