The ‘Recovery’ of Greece: Fraud and Fiction


Written by Jeff Nielson
Thursday, 03 April 2014 14:35

Roughly 2 ¼ centuries ago, a member of the French aristocracy (Marie Antoinette) was reputedly quoted as saying “let them eat cake”, as her naïve response to the plight of starving, French peasants (shortly before the French Revolution).

Historians now cast doubt as to whether this line was ever uttered by her, and it’s quite possible it was merely attributed to her as a means of attacking her reputation. However, the allegory itself has survived. Why? Because whether or not this anecdote is authentic; the symbol is an eternal one: elitist Oligarchs dwelling in their ivory towers, so totally out of touch with ordinary people (and reality) that their perspective on the real world is naïve and/or absurd.

In the 21st century, we see that this same Ivory Tower remains intact, and is currently situated at the headquarters of Bloomberg News. Do the drones who work for this den of elitism prescribe “eating cake” to feed the 100+ million unemployed across the Western world, or to mitigate the 50+% collapse in the standard of living of ordinary people in the West?

No. Bloomberg’s callous elitism is much more corporate in nature, and demonstrated in stark/absurd terms, in its piece of Marie Antoinette “journalism” from March 27th:

Greece Is Pulling Off an Amazing Recovery

Of what “recovery” does Bloomberg speak? Did Greece’s corrupt coalition government find any jobs for the 27% of the Greek population “officially” unemployed (real unemployment is closer to 50%)? Of course not. The Traitor Governments of the West don’t “create jobs” – they only destroy them.

So what is this “amazing recovery”? Bloomberg is so overjoyed it doesn’t keep readers in suspense for long. It reveals this “remarkable story” in its sub-title:

Greece Can Afford To Borrow Again

Anyone who hasn’t spent the past five years journeying on distant planets understands that Greece’s economy was just destroyed – utterly – as it went through a messy (and deliberately induced) debt-default. Now with Greece’s economy still in a state of utter ruin, the bankers want us to applaud the fact that they (and Greece’s Traitor Government) are about to start piling new debts on a population which cannot even currently feed itself.

This is not like Marie Antoinette saying to the people of France “let them eat cake.” Its bankers and politicians saying to the people of Greece “let them eat poison” (just as they are now doing with their new victims in Ukraine). But beyond the absurd/outrageous theme of this piece of elitist nonsense; in trying to create the myth of an “amazing recovery”, Bloomberg and the bankers have done nothing but inadvertently reveal their own culpability (and fraud) in the original destruction of Greece’s economy.

It’s all in the numbers:

Only one thing has changed between the time that Greece was driven into debt-default versus the (supposed) “recovery” of 2014: interest rates on Greece’s debt. Nothing else has changed. So why was the interest rate on Greek 10-year bonds at 5% at the beginning of 2010, at 30% (at its peak) during the summer of 2012, and now, a few, short months later back down to roughly 7.5%?

There is only one answer: manipulation. Some degree of fluctuation would be normal in this (or any) market. But not the 500% increase in Greece’s interest rates over a two-year period, immediately followed by a “remarkable” 75% decline, not when there have been no significant, fundamental changes within the (real) economy. There is no rational/legitimate explanation of any kind which could explain such a criminal degree of fluctuation.

Understand that even after Greece’s economy has been totally destroyed that the bankers and politicians themselves are estimating “economic growth” of less than 1% in Greece this year. After seeing the entire economy shrink by roughly 1/3rd, a less-than-1% rate of growth doesn’t even qualify as “a dead-cat bounce” for this economy – just a dead cat.

But one would never know this from listening to the liars at Bloomberg, the criminals working for the One Bank, or the traitors in Greece’s government. They can begin to (sadistically) pile new debt on these innocent victims (as the One Bank seeks to cement its Debt Slavery for future generations), and that’s all that they care about.

How have Greece’s interest rates been manipulated up and down like a yo-yo? Regular readers are familiar with the modus operandi here: credit-default swaps, and (to a lesser-extent) interest-rate swaps. These “economic WMD’s” as Warren Buffet described them before embracing them (in his own corruption) are literally nothing but mountains of bets.

However, when piled atop each other (in the $10’s of trillions) they become an economic doomsday weapon, capable of destroying any economy at which they are (maliciously) directed. The flip-side of this fraud is that these weapons can be used in reverse – to pump-up debt markets rather than destroy them. Thus we see the other “miracle” on display: the hopelessly bankrupt U.S. economy paying the lowest rates of interest in history on its own mega-debts.

As was pointed out in a previous commentary (written four years earlier); the only significant difference (in structural terms) between the economy of Greece and the economy of the United States was/is interest rate fraud – the same fraud – simply used in a precisely opposite manner. Now we have Bloomberg effectively confessing the fraud of the One Bank in Greece’s debt market, by highlighting this absurd (and totally inexplicable) roller-coaster ride with its interest rates.

Why has the One Bank now reduced Greece’s interest rates, after driving them high enough to first bankrupt the nation? Two reasons. As already mentioned; one reason why Greece’s government is now getting the “carrot” rather than the “stick” is because the current government now serves the bankers. The second reason is, again, simple numbers.

If the One Bank did not manipulate Greece’s interest rate down to a more rational/realistic level (somewhat relative to the West’s other Deadbeat Debtors), then the moment it piled more debt on this severely crippled economy it would immediately default on that debt again. That would negate the (new) yoke of debt around the throats of Greece’s population – and force the One Bank (and Greece’s corrupt government) to conduct yet another reset, before Debt Slavery could once again be imposed (as a long-term strategy).

It is yet another indication of how radically the fiction of the Corporate media deviates from the real world that what Bloomberg is calling “an amazing recovery” is very obviously simply another crime-against-humanity being perpetrated by the One Bank against the people of Greece. In our Wonderland Matrix, such perversity is now the norm, rather than the exception.


Η μετάφραση εδώ :

Η «Ανάκαμψη» της Ελλάδας: H Απάτη και o Μύθος



– Greek Bail-Out: 77% went into the Financial Sector

Do you still believe that the Greek government wants to save Greece? (1)

Do you still believe that the Greek government wants to save Greece? (2)

– The decoding of the Greek debt crisis

– Huffington Post: The Reality Behind the Greek ‘Success Story’

– Τα αποτελέσματα της διάσωσης της Ελλάδας σύμφωνα με τα τελευταία στοιχεία της EUROSTAT


2 comments on “The ‘Recovery’ of Greece: Fraud and Fiction

  1. «Πώς να κάνετε το έλλειμμα να εξαφανιστεί»

    ΠΙΝΑΚΕΣ.WSJ. Οι αναφορές περί πλεονάσματος τα νέα “greek statistics”? «H Ελλάδα θα μπορούσε να κάνει στάση πληρωμών για το εξωτ.χρέος & να συνεχίσει την καταβολή συντάξεων-μισθών από τους φόρους»

  2. Pingback: Μετά την Τρόικα….τι υποστηρίζει το Ελεγκτικό Συνέδριο για τα greek statistics | ΤΟ ΛΗΜΕΡΙ

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