Sunday, May 23, 2010

The extortion racket

"The Heresy Of The Greeks Offers Hope" (Pilger):
"What has happened in Greece is theft on an epic, though not unfamiliar scale. In Britain, the “rescue” of banks like Northern Rock and the Royal Bank of Scotland has cost billions of pounds. Thanks to the former prime minister, Gordon Brown, and his passion for the avaricious instincts of the City of London, these gifts of public money were unconditional, and the bankers have continued to pay each other the booty they call bonuses. Under Britain’s political monoculture, they can do as they wish. In the United States, the situation is even more remarkable, reports investigative journalist David DeGraw, “[as the principal Wall Street banks] that destroyed the economy pay zero in taxes and get $33 billion in refunds”.

In Greece, as in America and Britain, the ordinary people have been told they must repay the debts of the rich and powerful who incurred the debts. Jobs, pensions and public services are to be slashed and burned, with privateers in charge. For the European Union and the IMF, the opportunity presents to “change the culture” and dismantle the social welfare of Greece, just as the IMF and the World Bank have “structurally adjusted” (impoverished and controlled) countries across the developing world."

"The Greek People are the Victims of an Extortion Racket" - extortion is exactly the word for it. The banksters bribe the politicians to allow them to lend money to the government - or do something inscrutable that they can later call 'lend' - then they suddenly imagine a 'crisis', which requires the immediate assumption of more debt to pay off the first set of loans. Their thugs come around and say: 'Nice little economy you've got there; shame if anything were to happen to it'. Thus, the freshly re-bribed politicians agree to austerity measures to doubly repay the banksters out of the lives of the people of Greece (or Iceland or any one of a number of third-world countries). The extortion is an endless cycle, as the new tranche of loans will have to be repaid, and so on forever, with ever increasing levels of austerity. Moral and decent people know that the 'debt', if it is to be repayed at all, must be payed out of the freshly flayed skins of the banksters and politicians. Once some country makes this decision for the first time the extortion racket of the banksters will be finished forever.
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