PIIGS Web Of Debt: Why Greece Is Just The Beginning...
Message 26514831
From: SliderOnTheBlack 5/6/2010 11:18:52 AM
6 Recommendations Read Replies (1) of 21802
PIIGS Web Of Debt: Why Greece Is Just The Beginning...
The interconnectivity of the PIIGS debt assures the bailout
of Greece is just the first domino. From the New York Times...
nytimes.com
"...a default by a single nation would send other countries
tumbling. If that message was lost on anyone, there was a
reminder last Tuesday when Standard & Poor’s downgrade of
Spanish and Portuguese debt hammered stock markets everywhere,
including in the United States.
The first domino is Greece. It owes nearly $10 billion to
Portuguese banks, and with Portugal already falling two
notches in S. & P.’s ratings and facing higher borrowing
costs, a default by Greece would be a staggering blow.
Portugal, in turn, owes $86 billion to banks in Spain;
Spain’s debt was downgraded one notch last week.
The numbers quickly mount. Ireland is heavily indebted to
Germany and Britain. The exposure of German banks to Spanish
debt totals $238 billion, according to the Bank for
International Settlements, while French banks hold another
$220 billion. And Italy, whose finances are perennially shaky,
is owed $31 billion by Spain and owes France $511 billion,
or nearly 20 percent of the French gross domestic product.
“This is not a bailout of Greece,” said Eric Fine, who manages
Van Eck G-175 Strategies, a hedge fund specializing in
currencies and emerging market debt. “This is a bailout of
the euro system.”
[SOTB: Actually, it's a bailout of German, French, and UK Banks,
and on a deeper level, it's a bailout of the Rothschild's "Inter-Alpha"
banking group which is the modern day successor to the original
"Five Arrows" banking dynasty.]
Solutions are also not easily forthcoming. “In the end, we’re
all saying we don’t know how to deal with it,” said Dirk
Hoffmann-Becking, a bank analyst with Alliance Bernstein in
London. “We don’t know how the channels work, or where the
problems will pop up next.”
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Chart Showing Interconnectivity Of PIIGS & Massive Debt Owed To German, French & UK banks
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The Inter-Alpha Banking Group: The Modern Day Successor To Rothschild's Five Arrows
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The Inter-Alpha Group of Banks was created by the Rothschilds
in 1971, the same year that Richard Nixon closed the U.S. gold
window, and the Bretton Woods fixed rate currency system was
destroyed. A move which opened the door to currency warfare
and manipulation, as well as the creation of the petrodollar
mechanism.
Originally formed with 6 Rothschild controlled banks, it has
now grown in size to include 11 banks representing 15 countries.
inter-alpha.com
AIB Group, Eire
Bqnco Espirto Santo SA, Portugal
Santander, Spain
Soc Gen, France
ING Bank, the Netherlands
Intesa Sanpaolo
KBC Bank, Belgium
Nordea, Denmark, Finland and Sweden
National Bank of Greece, Greece
Commerzbank
The Royal Bank of Scotland Group, UK
Banco Espiritu Santo Group - Portugal is often described as
a "super secretive criminal banking and insurance giant,"
which maintains global offices in most of the money laundering
capitals of the world. One example being their impressive
hi-rise on Brickell Ave. in Miami, Florida, their US Headquarters.
(Remember BCCI?)
Of note to US taxpayers, The Royal Bank of Scotland and Soc Gen,
both received billions from US Taxpayers via TARP through the
backdoor AIG bailout.
And guess who you were bailing out besides the Rothschild cartel?
"Her Majesty's Treasury" which owns 84% of RBS.
Now you know why Bernanke refused to tell Alan Grayson,
where that $500 billion went...
From Wikipedia:
"The Royal Bank of Scotland Group (LSE: RBS) is a British
state owned banking and insurance holding company in which
HM Treasury holds an 84% controlling share (economic interest,
actual voting rights will not rise above 75% in order to retain
stock listing).
This stake is held and managed through UK Financial Investments
Limited. The group is based in Edinburgh, Scotland, and is the
world's largest company by assets.
The group controls the Royal Bank of Scotland Plc, founded in
1727 by a Royal Charter of King George I, the National
Westminster Bank, which can trace its lineage back to 1650,
and Ulster Bank in Ireland."
Most of you reading this are familiar with the British Royal
Family's 400 year old control of the Opium trade dating back
to the British East India Company established in 1609 (link).
And drug dealers always need a bank to launder that drug money,
and that bank has been RBS, which has continually fought money
laundering regulation...
-- August 27, 2007: On August 20, Royal Bank of Scotland told
the Federal Reserve that its anti-money laundering policy
should be withheld from ICP Fair Finance Watch.
-- September 12, 2005: RBS was in full denial mode last week
after reports that its target the Bank of China is under
investigation for laundering money from North Korea's
counterfeiting, drugs and weapons deals. RBS last month
proposed to acquire a 5% stake in Bank of China, “in spite of
concerns over human rights and corporate governance policies
in the Far East giant,” at the Scottish press put it.
-- March 21, 2005: The U.S. Senate’s report last week on
Pinochet’s funds identifies accounts at among others Coutts
& Co. (USA) while it was owned by the Royal Bank of Scotland.
-- January 3, 2005: In continuing Enron fall-out, the report
by Neil Batson, the examiner appointed by the Bankruptcy
Court, has concluded that Royal Bank of Scotland was fully
aware of Enron's accountancy juggling concerning the Teesside
plant. Batson’s report to the court concludes that "RBS aided
and abetted certain Enron officers in breaching their
fiduciary duties".
-----------
*US Taxpayers, including the 39 million on food stamps, the
200,000 per month that are losing their homes to the banks,
and the near 20% who are out of work or working part-time -
bailed out "Her Majesty's Treasury" which owns 84% of RBS.
....amazing how no one on CNBC, or MSNBC, CNN, or ABC ever
explained that to the American sheeple.
The bankers always get paid their interest.
The bankers principle is always guaranteed (by more sovereign
debt, higher taxes, and the infrastructure & natural resources
of the people).
And whenever their principle is threatened, their puppets at
the BIS, the IMF, or the World Bank simply move in and issue
more debt to bailout the old debt... while seizing natural
resources and key infrastructure owned by sovereign taxpayers,
while imposing higher taxes and austerity programs on the
populace, to pay for the newly issued debt.
A giant ponzi scheme where booms & busts are triggered through
manipulating the credit and money supply... which guarantees a
perpetual, slow, and steady transfer of wealth from the people
of every nation to the international banks, and the oligarch
families who control them.
Every child born in America today owes $41,893 on the $12.9
trillion dollar national debt. If you include the unfunded
liabilities to Social Security and Medicare, the debt
inherited at birth is $351,096.
Stats from: usdebtclock.org
Serfdom and debt bondage never went away.
There is no other way to describe a $351,096 debt owed at
birth to the international banks -- than slavery.
SOTB |
