Christine LaGarde, The Troika, And Greece

I wouldn’t travel to Greece if I was Ms. LaGarde; she might find herself on the receiving end of the sort of animosity she has displayed for the Greek people…..

“I think they should also help themselves collectively,” Ms Lagarde said.

She added: “I think more of the little kids from a school in a little village in Niger who get teaching two hours a day, sharing one chair for three of them, and who are very keen to get an education. I have them in my mind all the time.

“Because I think they need even more help than the people in Athens.”

And when asked if she was saying to the Greeks and other European nations that they had had a nice time and it was now payback time, Ms Lagarde responded: “That’s right.”

She also reiterated that the IMF had no intention of softening the terms of Greece’s austerity package.

I agree — they should help themselves.

They should start by placing all the bonds they issued and which LaGarde’s IMF, along with the other banksters, lent upon into the paper shredder and send the bits to the ECB and LaGarde via FedEx.  After all every one of these institutions was part and parcel of increasing credit into their economy at a greater rate than GDP, and thus was fully aware they were effectively counterfeiting Euros into the Greek economy.

That this action was legal doesn’t change the moral depravity of the act, nor does it excuse those who committed it from the consequences.

The consequence, incidentally, is that you lose your money as you don’t get repaid, and the bogus nature of your claimed “asset valuations” and lack of capital behind your positions is exposed.

This detonates your firm (and maybe your central bank too.)  Awwwww… cry me a river.

None of this changes the fact that Greece cannot spend more in its government than it taxes.  That has to change, and it has to change right now.

But it is manifestly unjust, and should be corrected through whatever means are necessary, that only the Greeks should bear that consequence while the banksters who knew damn well what they were doing get away with being willing and active co-conspirators.

This nonsense will not stop until someone stands up to these jackals and points out that they’re not going to get paid as the lender was fully aware they were emitting unbacked credit into the system with no mathematical possibility of repayment.  That is, they were willingly and intentionally promulgating a Ponzi Scheme.

The other nations in Europe should likewise erect the middle finger, simultaneously having the necessary debate with their citizens over the services that they want government to provide and implement the tax structure necessary to do so.

Greece, in a word, needs to reply quite simply “No” and make clear that it is explicitly authorizing its citizens and military to resist by whatever means are appropriate and necessary should any part of the “Troika”, or any bank associated with same, attempt to tamper with the nation’s internal affairs.

Enough is enough.

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