How to transform an independent country into a banksters colony

Αnother reason why international banksters and speculators rushed to lend the Greek government

Stock market technical analyst P. Panagiotou reveals the whole background of the process

The Greek government decided to design a bond auction that, in order to be held, the planned evaluation of the country should be postponed first. The evaluation would remind the obvious: that Greece is not out of the crisis, that the country has financial gaps and probably will be led to a new memorandum and, of course, Greece's debt is still not viable and needs to be treated substantially.

In order Greece to attract investors like Goldman Sachs, as the Greek government wanted and to build a picture of a "normal" bond auction, has designed the latest bond issuance under unprecedented legal and financial terms for a European and developed nation. This was designed by the government under top secrecy.

A top executive of a party of the opposition forced the Greek Public Debt Management Agency to announce officially that Greece, for the first time in decades, would issue bonds in financial markets which are regulated according to the foreign and not the Greek law. More specifically, the bonds are regulated according to the English law, which is the most protective to the lender against the borrower.

The government tried to block any publication or information concerning its commitments to the private lenders. Due to this fact, on Thursday April 10, just before the beginning of the bond auction, the Ministry of Finance sent to the media a non paper according to which the bond issue was designed under "specific law regime" so that the private lenders to be persuaded to participate, and for this reason there were "very strict conditions of publicity"!

According to some information, the legal text of the specific secret lending contract, disguised as a normal bond auction, contained a stipulation known legally as "pari passu", which upgrades banks like Goldman Sachs on the scale of institutional lenders, equalizing their legal rights with that of the European nations who lent Greece under memorandums.

Also according to some information, the government has signed that in case of delay or being unable to pay the interest or the capital of the specific bonds, their private holders would have the right to impound any part of the Greek public property except from the property elements which are part of the cultural heritage of Greece.

One third of the 5-year bond issue was sold to hedge funds which are investment companies known for their aggressive way and short-term approach in markets. In order government to serve its purposes, the Greek bonds passed in the hands of hedge funds under unprecedented legal stipulations of collateralizing public property, something which equalize official lenders, like eurozone state-members, with these hedge funds.

Like in the case of Simitis administration, when Goldman Sachs lent Greece under secret terms, in order the country to enter eurozone, the current Greek government has borrowed from private lenders under a secret law regime in order to gain the return to markets.

One of the direct consequences is the creation of a "de facto" situation for Greece, with the establishment of a new financial and law "status quo" for the country. Therefore, in every attempt of issuing bonds from now on, the lenders will demand from Greece similar terms, different from the rest of the European countries.

Therefore, in the specific latest bond issue, interest was lower exactly because of this specific law regime, which means that if any Greek government in the future try to proceed in a borrowing process from the markets under normal terms, similar to that of the European and developed countries, the lending interest will rise, increasing the cost of lending, even if the Greek economy would enter in a recovery phase and debt would become viable.

Key parts from the article by Panos Panagiotou, under the title "Exit in markets under the terms of a Goldman Sachs colony" , published on tvxs.gr website

http://www.tvxs.gr/news/ellada/me-oroys-apoikias-tis-goldman-sachs-i-%C2%ABeksodos%C2%BB-stis-agores

Comment: This is a particularly important information because it shows another reason why the international banksters want the Greek experiment to be completed. We will probably see in the future similar actions for other eurozone countries which under the weight of their debt will be forced to change the terms of borrowing from markets under neoliberal governments guided by banking puppets.

Comments

GAME OVER, Trump: Putin, China & BRICS Just CRUSHED US Dollar

Danny Haiphong Donald Trump's war on BRICS is backfiring as the Russia & China-led Global South moves to dump the US dollar and build a new order independent of its dictates. Journalist and geopolitical analyst Ben Norton breaks it all down. Related: Trump's tariffs: A unique opportunity for BRICS and the Global South to fully escape from dollar tyranny

WikiLeaks reveals that literally every router in America has been compromised

The latest Wikileaks Vault7 release reveals details of the CIA’s alleged Cherry Blossom project, a scheme that uses wireless devices to access users’ internet activity. globinfo freexchange As cyber security expert John McAfee told to RT and Natasha Sweatte: Virtually, every router that's in use in the American home are accessible to hackers, to the CIA, that they can take over the control of the router, they can monitor all of the traffic, and worse, they can download malware into any device that is connected to that router. I personally, never connect to any Wi-Fi system, I use the LTE on my phone. That's the only way that I can be secure because every router in America has been compromised. We've been warning about it for years, nobody pays attention until something like WikiLeaks comes up and says 'look, this is what's happening'. And it is devastating in terms of the impact on American privacy because once the router...

Confirmed: Alex Jones' popularity rises after Infowars banning from social media

globinfo freexchange We wouldn't expect to be confirmed so fast on this. A few days ago in the article IT and social media supergiants have just made Alex Jones a hero in the eyes of the ultra-conservative audience , we wrote that Alex Jones' wet dream has just become reality thanks to the combined move by Facebook, Apple, YouTube and Spotify to ban Infowars. These private IT and social media companies couldn't give a better gift to him right now. At a time where Infowars was going through a saturated period according to the best scenario, the corporate giants actually saved it with that stupid(?) strategy. Suddenly, a corporate branch of the liberal establishment gave real value to Alex Jones' awful performance, pretending to be the 'anti-establishment' hero - just like Donald Trump - and made him a real hero in the eyes of the ultra-conservative audience that has been brainwashed by his absurd conspiracy theories. Only a couple of days later...

Stephen Hawking confirms: The problem is Capitalism, not robots!

globinfo freexchange According to world famous physicist Stephen Hawking, the rising use of automated machines may mean the end of human rights – not just jobs. But he’s not talking about robots with artificial intelligence taking over the world, he’s talking about the current capitalist political system and its major players. On Reddit, Hawking said that the economic gap between the rich and the poor will continue to grow as more jobs are automated by machines, and the owners of said machines hoard them to create more wealth for themselves. The insatiable thirst for capitalist accumulation bestowed upon humans by years of lies and terrible economic policy has affected technology in such a way that one of its major goals has become to replace human jobs. If we do not take this warning seriously, we may face unfathomable corporate domination. If we let the same people who buy and sell our political system and resources maintain control of automated technology, the...

CIA had an agent at a newspaper in every world capital at least since 1977

Joel Whitney is a co-founder of the magazine Guernica, a magazine of global arts and politics, and has written for many publications, including the New York Times and Wall Street Journal. His book Finks: How the C.I.A. Tricked the World's Best Writers describes how the CIA contributed funds to numerous respected magazines during the Cold War, including the Paris Review, to subtly promote anti-communist views. In their conversation, Whitney tells Robert Scheer about the ties the CIA’s Congress for Cultural Freedom had with literary magazines. He talks about the CIA's attempt during the Cold War to have at least one agent in every major news organization in order to get stories killed if they were too critical or get them to run if they were favorable to the agency. And they discuss the overstatement of the immediate risks and dangers of communist regimes during the Cold War, which, initially, led many people to support the Vietnam War. globinfo freexchange...

How normal human behavior became a false mental disorder epidemic

globinfo freexchange In the early nineties, an epidemic of mental disorder was sweeping America and Britain. It had been uncovered by a new system for identifying disorders. Psychiatry had been attacked for relying on the personal and fallible judgement of psychiatrists. But instead, a new objective method based on checklists had been invented. These listed only the objective symptoms, and deliberately did not enquire into why the individuals felt an anxiety. In the late 80s, nationwide surveys had revealed an incredible picture: more than 50% of Americans suffered from mental disorders. But at the very same, the drug companies had announced that they had created a new type of drug, called an SSRI, which they claimed, targeted the circuits inside the brain that were causing these malfunctions. The SSRIs were marketed under names like "Prozac". What they did was alter the amounts of serotonin that flowed across the circuit connections within the brain, and they...

Confirmed: US imperialists wanted to drag Russia into a war with Ukraine since at least 2019

globinfo freexchange As we wrote in our previous article, after almost eight years, the US imperialists and the NATO criminals got what they wanted. They finally managed to drag Russia into a war with Ukraine. We now have indisputable evidence for that, through a document by the top US think tank, RAND Corporation. In the preface of a 2019 report under the title Extending Russia, Competing from Advantageous Ground we read: [emphasis added] The purpose of the project was to examine a range of possible means to extend Russia. By this, we mean nonviolent measures that could stress Russia’s military or economy or the regime’s political standing at home and abroad. The steps we posit would not have either defense or deterrence as their prime purpose, although they might contribute to both. Rather, these steps ar...

the unbalanced evolution of homo sapiens

Search This Blog