Author: Spencer

Late breaking update: Greek Prime Minister Alexis Tsipras went on national television on Sunday night and announced that banks and stock markets in Greece would be closed on Monday, and other capital control measures would also be imposed immediately. According to the Guardian, the Greek Finance Minister has already extended the bank and market shutdown until July 7, following the results of the referendum. In response to the Greek parliament’s vote to hold a referendum on July 5, the European Commission issued the text of its latest offer to Greece, in an effort to woo voters to support the deal. Tsipras, in his TV address, labeled the decision by the European Central Bank to limit the emergency funds to Greek banks as “blackmail.”  In another sign of the global panic over the European crisis, President Obama called German Chancellor Merkel on Sunday, to urge EU officials to do everything possible to keep Greece in the EMU.

The Greek parliament Sunday morning voted to hold a referendum on Sunday, July 5, on the Troika’s austerity package. Prime Minister Alexis Tsipras stunned the EU and IMF on Saturday, when he announced his intent to get parliamentary approval for a referendum, which calls the bluff on the Troika’s clear intention of using the so-called debt negotiations to bring down the Syriza government, and install yet another in a long line of corrupt, submissive Greek governments, that would comply with the murderous austerity and illegitimate debt repayment— with the delusionary goal of extending the life of the thoroughly bankrupt Euro system.

In an emergency meeting on Sunday, the European Central Bank announced that it would continue to provide funds from the Emergency Liquidity Assistance (ELA) fund to the Greek banks. However, with runs on the Greek banks over the weekend through ATM withdrawals, there was growing concern that the Greek government might have to announce a bank holiday on Monday or some time later in the week, prior to the July 5 referendum.

On Saturday, European finance ministers had rejected Greece’s proposal for a weeklong extension of the June 30 deadline for a new bailout deal. On June 30, Greece is due to make a 1.5 billion Euro payment to the IMF, which it can only pay if the balance of the 8 billion Euro Troika bailout fund is released.  Even if that payment to the IMF is made, there is no way Greece can make payments to the ECB and EU that are due early in the summer.

In response to the weekend developments, German Finance Minister Wolfgang Schäuble told ZDF TV that he no longer saw any prospect for avoiding a Greek default on Tuesday and an exit from the Euro.  He added that he thought the situation would reach a break point even before the Tuesday deadline for the payment to the IMF—meaning a break point on Monday.

Schäuble’s views were contradicted by French Prime Minister Manuel Valls, who told French TV on Sunday, “I cannot resign myself to Greece leaving the euro zone—we must find a solution.”  He made a plea for Greece to return to the negotiating table.

At the bottom of the split is the looming blowout of the entire European and trans-Atlantic financial system, which is hopelessly bankrupt, and could detonate in the event of a Greek default.  A Greek government Truth Commission issued its findings last week, and concluded that none of the remaining Greek debt is legitimate, and none should be paid.  The injection of ELA funds into the Greek banks, to offset capital flight over the past weeks, has created yet a further nominal debt for Greece, since the ELA loans to the Greek banks are to be paid back at higher interest rates than the Greek government could have gotten from the ECB.  The bankers’ swindle never ends. 

Late breaking update: Greek Prime Minister Alexis Tsipras went on national television on Sunday night and announced that banks and stock markets in Greece would be closed on Monday, and other capital control measures would also be imposed immediately. According to the Guardian, the Greek Finance Minister has already extended the bank and market shutdown until July 7, following the results of the referendum. In response to the Greek parliament’s vote to hold a referendum on July 5, the European Commission issued the text of its latest offer to Greece, in an effort to woo voters to support the deal. Tsipras, in his TV address, labeled the decision by the European Central Bank to limit the emergency funds to Greek banks as “blackmail.”  In another sign of the global panic over the European crisis, President Obama called German Chancellor Merkel on Sunday, to urge EU officials to do everything possible to keep Greece in the EMU.

The Greek parliament Sunday morning voted to hold a referendum on Sunday, July 5, on the Troika’s austerity package. Prime Minister Alexis Tsipras stunned the EU and IMF on Saturday, when he announced his intent to get parliamentary approval for a referendum, which calls the bluff on the Troika’s clear intention of using the so-called debt negotiations to bring down the Syriza government, and install yet another in a long line of corrupt, submissive Greek governments, that would comply with the murderous austerity and illegitimate debt repayment— with the delusionary goal of extending the life of the thoroughly bankrupt Euro system.

In an emergency meeting on Sunday, the European Central Bank announced that it would continue to provide funds from the Emergency Liquidity Assistance (ELA) fund to the Greek banks. However, with runs on the Greek banks over the weekend through ATM withdrawals, there was growing concern that the Greek government might have to announce a bank holiday on Monday or some time later in the week, prior to the July 5 referendum.

On Saturday, European finance ministers had rejected Greece’s proposal for a weeklong extension of the June 30 deadline for a new bailout deal. On June 30, Greece is due to make a 1.5 billion Euro payment to the IMF, which it can only pay if the balance of the 8 billion Euro Troika bailout fund is released.  Even if that payment to the IMF is made, there is no way Greece can make payments to the ECB and EU that are due early in the summer.

In response to the weekend developments, German Finance Minister Wolfgang Schäuble told ZDF TV that he no longer saw any prospect for avoiding a Greek default on Tuesday and an exit from the Euro.  He added that he thought the situation would reach a break point even before the Tuesday deadline for the payment to the IMF—meaning a break point on Monday.

Schäuble’s views were contradicted by French Prime Minister Manuel Valls, who told French TV on Sunday, “I cannot resign myself to Greece leaving the euro zone—we must find a solution.”  He made a plea for Greece to return to the negotiating table.

At the bottom of the split is the looming blowout of the entire European and trans-Atlantic financial system, which is hopelessly bankrupt, and could detonate in the event of a Greek default.  A Greek government Truth Commission issued its findings last week, and concluded that none of the remaining Greek debt is legitimate, and none should be paid.  The injection of ELA funds into the Greek banks, to offset capital flight over the past weeks, has created yet a further nominal debt for Greece, since the ELA loans to the Greek banks are to be paid back at higher interest rates than the Greek government could have gotten from the ECB.  The bankers’ swindle never ends. 

Italian economist Nino Galloni has refuted the Papal Encyclical Laudato Si’ in an article in which he calls for higher energy-flux density as the alternative. The article has been published in the progressive Catholic journal Il Domani d’Italia and on scenarieconomici.it, a website run by anti-euro economists.

The Encyclical proposes to solve the crisis by “equally redistributing resources” which means “proposing a model in which those who have more, alienates one part so that everybody gets enough.” But, Galloni says, “the world has never worked that way.”

A brief excerpt of Mr. Galloni’s remarks:

For additional discussion on the topic of science, technology, and the Laudato Si, watch the June 24th New Paradigm for Mankind Show.

Italian economist Nino Galloni has refuted the Papal Encyclical Laudato Si’ in an article in which he calls for higher energy-flux density as the alternative. The article has been published in the progressive Catholic journal Il Domani d’Italia and on scenarieconomici.it, a website run by anti-euro economists.

The Encyclical proposes to solve the crisis by “equally redistributing resources” which means “proposing a model in which those who have more, alienates one part so that everybody gets enough.” But, Galloni says, “the world has never worked that way.”

A brief excerpt of Mr. Galloni’s remarks:

For additional discussion on the topic of science, technology, and the Laudato Si, watch the June 24th New Paradigm for Mankind Show.

A small debt produces a debtor; a large one, an enemyPublilius Syrus

The showdown between the sovereign nation of Greece, and the financial and imperial entity known as the EU is fast nearing approach. While the mainstream media is reporting on the most recent offers for reconciliation, between the two, that is a false narrative. Lyndon LaRouche commented yesterday that there are, in fact, no meaningful negotiations underway, because the EU insists on imposing policies which are a crime, which the Greeks continue to reject. If the end of the month is reached this way, LaRouche stated, then the entire EU system will go down, and with it Wall Street and the City of London.

Lyndon LaRouche made the point to associates recently that the Papacy has been taken over by the British Empire, and there are only a few bastions of resistance around the globe to this new force of Satanism:

A small debt produces a debtor; a large one, an enemyPublilius Syrus

The showdown between the sovereign nation of Greece, and the financial and imperial entity known as the EU is fast nearing approach. While the mainstream media is reporting on the most recent offers for reconciliation, between the two, that is a false narrative. Lyndon LaRouche commented yesterday that there are, in fact, no meaningful negotiations underway, because the EU insists on imposing policies which are a crime, which the Greeks continue to reject. If the end of the month is reached this way, LaRouche stated, then the entire EU system will go down, and with it Wall Street and the City of London.

Lyndon LaRouche made the point to associates recently that the Papacy has been taken over by the British Empire, and there are only a few bastions of resistance around the globe to this new force of Satanism:

In an interview in Germany’s Frankfurter Allgemeine Zeitung (FAZ) yesterday, Greek resistance veteran and composer Mikis Theodorakis spoke of the Evil of Chaos and the Creativity of Harmony. The interview comes at a time when he will soon be celebrating his 90th birthday. He is a very ill man, whose injuries from torture at the hands of various tyrants who occupied Greece have seriously affected his health.

Theodorakis’s remarks on music, Lyndon LaRouche commented yesterday, display a truthful insight into the matter, but are a somewhat romantic expression of what is actually a scientific issue. He is echoing an actual principal, but a discussion of the principal itself is best found in Megan Beets’s recent treatment of the matter on LaRouchePAC’s New Paradigm for Mankind show.

FAZ asked Theodorakis to comment on Thomas Mann’s statement in 1947 about the “demonic potential” of sound, to which he responded:

The interviewer also asked if music can “harmonize human and even political relations.” Theodorakis responded that

In an interview in Germany’s Frankfurter Allgemeine Zeitung (FAZ) yesterday, Greek resistance veteran and composer Mikis Theodorakis spoke of the Evil of Chaos and the Creativity of Harmony. The interview comes at a time when he will soon be celebrating his 90th birthday. He is a very ill man, whose injuries from torture at the hands of various tyrants who occupied Greece have seriously affected his health.

Theodorakis’s remarks on music, Lyndon LaRouche commented yesterday, display a truthful insight into the matter, but are a somewhat romantic expression of what is actually a scientific issue. He is echoing an actual principal, but a discussion of the principal itself is best found in Megan Beets’s recent treatment of the matter on LaRouchePAC’s New Paradigm for Mankind show.

FAZ asked Theodorakis to comment on Thomas Mann’s statement in 1947 about the “demonic potential” of sound, to which he responded:

The interviewer also asked if music can “harmonize human and even political relations.” Theodorakis responded that

There is still no agreement between the EU and Greece, as much as some people are saying one will be hammered out in a few days. The real issue is the debt.

Lyndon LaRouche commented yesterday that there are, in fact, no meaningful negotiations underway, because the EU insists on imposing policies which are a crime, which the Greeks continue to reject. If the end of the month is reached this way, LaRouche stated, then the entire EU system will go down, and with it Wall Street and the City of London.

Greek Prime Minister Alexis Tsipras issued a statement saying,

The big issue on which all the EU leaders remain silent is the question of the debt, which is a key demand of the Greeks. Tsipras’s assertion that the ball was in the court of the EU leaders, is being interpreted as being related to the debt issue; implying that if there is no statement on the debt, then there would be no deal. The deadline, if there is in fact a deadline, is Wednesday, June 24, when the Eurogroup meets again.

On the debt, German Chancellor Angela Merkel said, “This is not an urgent question.” German Vice Chancellor and Economic Minister Sigmar Gabriel, sounding more and more like Finance Minister Wolfgang Schäuble, also said he does not support a haircut, and that Germany and Europe will not be blackmailed by Greece [sic].

European Commission President Jean-Claude Juncker said this “wasn’t the time to discuss” the debt question.

French President Francois Hollande told reporters: “Extending repayment deadlines, or restructuring the debt— this can only come at the second stage…The debt subject is not in the discussion (for now) … but it must be signalled to be raised later,” after a short-term deal with Athens, he said.

European Central Bank President Mario Draghi, during his meeting with Tsipras, delivered a de facto threat, saying funding of Greek banks was assured only until the end of the month, and thereafter, only if an agreement is signed. Tsipras reportedly mentioned the Greek bonds valued at EU27 billion which had been bought by the Central Bank when Jean-Claude Trichet was at the helm, and whose repayment is now pending.

There is still no agreement between the EU and Greece, as much as some people are saying one will be hammered out in a few days. The real issue is the debt.

Lyndon LaRouche commented yesterday that there are, in fact, no meaningful negotiations underway, because the EU insists on imposing policies which are a crime, which the Greeks continue to reject. If the end of the month is reached this way, LaRouche stated, then the entire EU system will go down, and with it Wall Street and the City of London.

Greek Prime Minister Alexis Tsipras issued a statement saying,

The big issue on which all the EU leaders remain silent is the question of the debt, which is a key demand of the Greeks. Tsipras’s assertion that the ball was in the court of the EU leaders, is being interpreted as being related to the debt issue; implying that if there is no statement on the debt, then there would be no deal. The deadline, if there is in fact a deadline, is Wednesday, June 24, when the Eurogroup meets again.

On the debt, German Chancellor Angela Merkel said, “This is not an urgent question.” German Vice Chancellor and Economic Minister Sigmar Gabriel, sounding more and more like Finance Minister Wolfgang Schäuble, also said he does not support a haircut, and that Germany and Europe will not be blackmailed by Greece [sic].

European Commission President Jean-Claude Juncker said this “wasn’t the time to discuss” the debt question.

French President Francois Hollande told reporters: “Extending repayment deadlines, or restructuring the debt— this can only come at the second stage…The debt subject is not in the discussion (for now) … but it must be signalled to be raised later,” after a short-term deal with Athens, he said.

European Central Bank President Mario Draghi, during his meeting with Tsipras, delivered a de facto threat, saying funding of Greek banks was assured only until the end of the month, and thereafter, only if an agreement is signed. Tsipras reportedly mentioned the Greek bonds valued at EU27 billion which had been bought by the Central Bank when Jean-Claude Trichet was at the helm, and whose repayment is now pending.

Thousands of Syriza supporters rallied in Athens on Sunday, June 21 to send “a loud message of resistance” against demands for more cuts and tax hikes. About 10,000 people demonstrated in front of the Parliament.

In their statement on Sunday, announcing their planned protest, the Syriza party said:

There were pro-Greece demos in other European cities. In Brussels several thousand demonstrated and several hundred in Amsterdam.  Addressing the crowd in Amsterdam, veteran 92-year-old Greek MEP Manolis Glezos declared, “This crisis was caused by the financial sector, not by the Greek people. It’s the financial sector that has to pay, not the Greek people.”

Another demonstration took place in Athens yesterday called by Syriza’s youth movement in front Greece’s central bank demanding the resignation of its Governor, Yannis Stournaras,  for making an illegal intervention into the country’s political debate. Last week, Stournaras, who is supposed to be “neutral,” issued a bogus warning in the Central Bank’s annual report claiming if Greece does not accept a deal with its creditors, it would face an “uncontrollable crisis.”

The report was rejected by the President of the Greek Parliament Zoe Konstantopoulou, when Stournaras delivered it on a USB thumb drive without even bothering to print it. Stournaras could be in even more trouble because Konstantopoulou has demanded that he testify in Parliament over his role in the notorious Siemens corruption case; as Finance Minister in the previous government, Stournaras signed an out of court settlement with Siemens which let the company off scot free from litigation.

Stournaras, who was named central bank governor by the previous government in order to undermine the new Syriza-led government, has been organizing a run on the banks by his insane statements. Previously, as finance minister, he unquestioningly implemented all the orders from the EU Commission/ECB/IMF Troika.

Thousands of Syriza supporters rallied in Athens on Sunday, June 21 to send “a loud message of resistance” against demands for more cuts and tax hikes. About 10,000 people demonstrated in front of the Parliament.

In their statement on Sunday, announcing their planned protest, the Syriza party said:

There were pro-Greece demos in other European cities. In Brussels several thousand demonstrated and several hundred in Amsterdam.  Addressing the crowd in Amsterdam, veteran 92-year-old Greek MEP Manolis Glezos declared, “This crisis was caused by the financial sector, not by the Greek people. It’s the financial sector that has to pay, not the Greek people.”

Another demonstration took place in Athens yesterday called by Syriza’s youth movement in front Greece’s central bank demanding the resignation of its Governor, Yannis Stournaras,  for making an illegal intervention into the country’s political debate. Last week, Stournaras, who is supposed to be “neutral,” issued a bogus warning in the Central Bank’s annual report claiming if Greece does not accept a deal with its creditors, it would face an “uncontrollable crisis.”

The report was rejected by the President of the Greek Parliament Zoe Konstantopoulou, when Stournaras delivered it on a USB thumb drive without even bothering to print it. Stournaras could be in even more trouble because Konstantopoulou has demanded that he testify in Parliament over his role in the notorious Siemens corruption case; as Finance Minister in the previous government, Stournaras signed an out of court settlement with Siemens which let the company off scot free from litigation.

Stournaras, who was named central bank governor by the previous government in order to undermine the new Syriza-led government, has been organizing a run on the banks by his insane statements. Previously, as finance minister, he unquestioningly implemented all the orders from the EU Commission/ECB/IMF Troika.