Euro troika: We want austerity.
Yanis Varoufakis: No austerity, we are already broke.
Euro troika: No austerity, then no money.
Yanis Varoufakis: OK, give me four months to work it out.
Euro troika: How about a month?
Yanis Varoufakis: One month or four months, we are still broke. But I’ll take it.
No way out? Or is there a way out? There’s no more blood to squeeze from an impoverished nation. Oh wait, we still have rich bankers who have enough juice to squeeze. There may a solution after all!
Interview with MICHAEL HUDSON, ECONOMICS PROF., UNIV. MISSOURI, KANSAS CITY: “Because what’s at issue really is a class war. It’s not so much Germany versus Greece, as the papers say. It’s really the war of the banks against labor. And it’s a continuation of Thatcherism and neoliberalism.”
Can one extract a pound of flesh without blood? The modern banksters (the EU Shylock) thought they can. Over time, they have mastered and refined the art of kleptocracy. Stealing is a dirty work. But ensuring that the banking system does not fail using public funds and legalised theft is for the public good. That’s modern finance at its best. If the banks lose a few billion dollars, take it from public funds. If they lose more, take it from the depositors. If they commit a crime, just bribe the judge and pay a fine. And to add insult to injury, they richly enrich themselves with enormous bonuses for poor performance, disguised as doing great work in stabilising the financial markets.
Greece is broke. Greece is broke because of simple poor house-keeping – spending beyond their means. Yes, Greece is at fault. But it is more than that. They are broke because the EU Shylock deceitfully entice them to eat and be merry. Shylock wants the pound of flesh after the meal.
Go with me to a notary, seal me there
Your single bond; and, in a merry sport,
If you repay me not on such a day,
In such a place, such sum or sums as are
Express’d in the condition, let the forfeit
Be nominated for an equal pound
Of your fair flesh, to be cut off and taken
In what part of your body pleaseth me. (source Merchant of Venice)
So the Greeks make merry while the money flows. Until the day of reckoning comes. The EU Shylock thinks he can fleece and plunder that pound of flesh from Greece now that repayment is in doubt. Banksters can default, Greece can too, that’s legal too. It is caveat emptor, the banksters know.
Bankruptcy comes with a stigma. So Varoufakis may be too proud to take that route now. Or rather, the expert in “game theory” has another card up his sleeve to keep the game going. Since the banksters created the mess, why not impose austerity on them only. They are wealthy. and in doing so, the promise of austerity is not broken. Well done Varoufakis, get them now. Go for the best of that pound of flesh. Let banksters eat their own poison and taste the joy of austerity (read more: Greece Proposing AUSTERITY on the BANKING CLASS Rather Than the WORKING CLASS).
He that by usury and unjust gain increaseth his substance, he shall gather it for him that will pity the poor.