Not for love of money, but of Humanity. "Greater is he who works for the good of all, then he who works for the good of himself only" ~ Matthew 25:40: "The King will reply, 'I tell you the truth, whatever you did for one of the least of these brothers of mine, you did for me.'"- (NIV). I live in Singapore where the Emperor must not be disturbed.
Wednesday, July 8, 2015
For the sake of world peace, Greece should ASAP quit EuroZone.. So that it can CEASE to be a money laundering agent (subsidiary) of the European Central Bank.
I always knew that the Eurozone was in a very sick situation, but I didn't know about the degree of $ laundering until I read that "... for every euro in bailout funds, the Greek government receives less than 20 per cent. The rest goes to bankers and bondholders.": which just proves that most of the eurozone GDP is from euro currency stimulus policies and not real productivity in output: e.g. business/ infrastructure investments which do not necessarily benefit society (spear headed by greedy bankers + political elites) and only making the eurozone area inequality divide wider which makes it a culture pot for terrorist ideology that is fed by wealth/ social inequality.
The benefits of receiving (diminishing) bailouts from ECB (only 20% goes to greek people) are thus minuscule compared to the 80% of bailout funds which are used ('laundered' based upon Greece high borrowing interest rates) to prop up hapless eurozone banks, which would probably close down the moment the central (ECB) money counterfeiting/ laundering tap is shut.
Being a pawn of organised crime ($counterfeiting + laundering) never pays and in this regard, the Greeks ought to revert to the drachma and prefer to rely upon IMF/ other world assistance in donations/loans denominated in USD/ drachmas to get back on its feet. Serving as an agent/tool (puppet/ mistress/ pawn/ prostitute) to the ECB massive Euro counterfeiting/ laundering operation will be one of diminishing returns as Greece's ballooning sovereign debt (323 billion euros today) will only mandate escalating interest on debt payments.
The ECB should be the agency responsible for the high Greek debt (in euros) for not enforcing proper debt reporting for the years it oversaw its subsidiary banks and false selling the mirage of european prosperity through common currency: the irresponsible and rogue ECB should thus take ownership for the greek debt and also stop its continued Euros counterfeiting and laundering operation which is short term fix but making the whole eurozone more sick as time wears on.
Taking care of poor people and avoiding environmental degradation involves direct provision of public goods like preventive healthcare and education: money counterfeiting and laundering operations using Greece Central Bank (GCB) as courier/ agent is not the right way to run a local government, and probably a sign of end times when a central one attempts to do that.
So for the sake of longer term world economic peace, a return to the drachma for Greece will certainly stop the rot: begun and increasingly perpetuated by the ECB: prosperity from the printing of money is a mirage that must soonest end, the earlier the better for all.
Depending upon and organised criminal syndicate (ECB) never pays and Greece should distance herself from the euro until the ECB stops printing money like there is no tomorrow. (Remaining as part of the European Union (which isn't a counterfeiting/ $-laundering agency is okay, just like the UK is part of the EU) is a good idea so negotiations and diplomacy between all European states can continue).
As a pawn/ prostitute of the ECB, Greece will NEVER stand on 2 feet; at least after a clean cut from being slave of euro-currency agreement, Greece may improve its GDP so that perhaps its borrowing costs in drachmas might be affordable (just like the SG gahmen borrows SGD for like 2.57% p.a. (10yr-bond) today)
To prove that it isn't an organised criminal syndicate, the ECB should wind down its euro currency printing activities and focus on direct social development through progressive policies as well as euros obtained not from rabid printing but from fair and equitable taxation which is the true job of a good government. Countries should also be encouraged to progressively quit the common currency agreement since the ECB has shown itself to repeatedly over-promise and under-deliver, and has in recent times began printing $$$ in a very reckless (rogue) manner.