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Greek Crisis I

PHOTO: Distraught 77-year-old Greek retiree, Giorgos Chatzifotiadis, falls to the ground outside of a bank in Thessaloniki, July 3, 2015. (AFP: Sakis Mitrolidis)











I would like to draw your attention to two post that appeared on the Mundabor blog. These two post relate to the present situation in Greece. Mundabor has taken the time to provide a very good and detailed understanding of the situation on both what is commonly referred to as a micro-economic level and the macro-economic level (see here and here) of this ongoing Greek Crisis. Even though I do not share some of the conclusions, i.e. the EURO is the weapon of mass destruction that the US was looking for in Iraq problem, nevertheless, I have provided the link to these two excellent posts and suggest a thorough read.

With the above in mind, I would also like to add that in addition to the economic considerations, there exist some higher level considerations. One of these higher levels of considerations can be termed as a Geo-political consideration. It is to this Geo-political level that what started out as a regional European crisis in 2009, this latest iteration of the Greek Crisis has advanced to presently. The proof that the Greek crisis has taken on a Geo-political dimension can be observed through the recent actions of the US White House and Department of the Treasury. To be more specific, it would appear that BH Obama (President) and Jack Lew (Treasury Secretary) are putting pressure on the German government to force it and its European allies to give “debt relief” (debt forgiveness) to Greece. (see here) And when one says “debt relief”, we are speaking about serious money. To the tune of $133 billion (€120b) of the $371 billion (€335b at last count) of Greek government debt outstanding.

Furthermore, in addition to the above identified levels on which the Greek crisis is playing itself out on, I would further like to draw your attention to an even higher level of this Greek crisis that is also beginning to be considered. Finally. And this higher dimension… actually the highest of the Greek Crisis, is something that we have written about quite a bit lately. At its highest level, this Greek crisis is playing itself out in the dimension of what we have termed Visibilium Omnium, et Invisibilium.(see here)

To be more precise. What we are in fact witnessing in the Greek crisis is the “unraveling” of a political/pseudo-economic system that is commonly referred to as “socialism”. Here is the relevant passage from our previous post titled Of False Prophets (see here):

Socialism will not work, whether in one country, a multi-state region such as Europe, or the entire world. Ludwig von Mises explained that socialism is not an alternative economic system. It is a program for consumption. It tells us nothing about economic production. Since each man’s production must be distributed to all of mankind, there is no economic incentive to produce anything, although there may be the incentive of coercion and threats of violence.

Ahem. Francis, are you listening?

And the reason that this pseudo-economic system has “become unstable” to put it mildly is due to its faulty construction. From a purely technical level, the above passage explains the specifics quite elegantly. However, on a higher philosophical level, if one was to define the essence of why socialism and its monetary union is collapsing in Western Europe before our very eyes, one can say that it is collapsing because this construction does not conform to the natural order of thing, i.e. natural law. Case in point, refer to the paragraph explaining Say’s law in the Of False Prophets post.

And now that we have essentially identified the various levels on which the Greek crisis is playing itself out on, let’s tie is all back to God’s creation, i.e. man. In the below post titled The Lesson for the World Coming from Greece, (see here) the reader is presented with a contemporary example of a rather biblical presentation of fallen man. This post, on a higher level quite accurately describes the situation in which fallen man FINDS himself when he stops obeying the natural order that God has put in place to govern his creation. This goes for both collective man as designer of badly flawed social/economic/political systems, as well as for individual man who find themselves, through no fault of their own for the most part governed under these flawed and irrational systems. Please keep in mind that man is the only creature that has the ability to reason and a free will, therefore the only creature that can create unnatural systems that regulate and govern his activities. (see here)

With respect to individual man and regardless of the system in which he finds himself, he can choose to “conform” to the environment that he lives in rationally or he can choose not to. But if he chooses not to, he must be cognizant of the fact that his choices have consequences. Just like the 250 pound moo moo-less ladies in the bikinis on the Jersey shore described in the On The Boardwalk post (see here).

And on that note, here is The Lesson for the World Coming from Greece post.


The Lesson for the World Coming from Greece

The mainstream news is painting the Greeks as the bad guys, and the Troika [Ed note: European Commission, European Central Bank and the International Monetary Fund comprise the Troika] as the savior of Europe. Quite frankly, it is really disgusting. Pictures of an elderly Greek pensioner have gone viral, depicting what the Troika is deliberately doing to the Greek people by punishing them for their own failed design of the euro in a system that is just economically unsustainable.

The heartbreaking photographs circulating are of 77-year-old retiree, Giorgos Chatzifotiadis, after he collapsed on the ground openly in tears, driven to despair, outside a Greek bank with his savings book and identity card strewn next to him on the ground. This illustrates the horror the Troika is deliberately inflicting upon the Greek population.

This image illustrates the core of the issue: ordinary Greeks tormented by EU politicians who pretend to care about people. This is not a Greek debt crisis, this is a Euro Crisis and they refuse to admit that what they designed was solely for the takeover of Europe at the cost of the future of everyone, from pensioners to the youth.

Chatzifotiadis queued up at three banks in Greece’s second city of Thessaloniki on Friday in the hope of withdrawing pensions on behalf of him and his wife. When he went to a fourth bank, he was told he could not withdraw his 120 euros ($180); the ordeal simply became too much and he fell down in tears in total desperation. His comments were simply that he “cannot stand to see my country in this distress”. He continued to say, “That’s why I feel so beaten, more than for my own personal problems.”

This is just the tip of the iceberg. We are facing terrible times ahead because socialism is completely collapsing. Government employees have lined their pockets, which is precisely the endgame and how Rome collapsed. It was not the barbarians at the gate. It was that the Roman army was not paid and they began hailing their various generals as emperor and the attacked cities who did not support their choice. Only after weakening themselves, then the barbarians came in for easy pickings. If Russia really wants to take Europe, all they have to do is be patient. They will self-destruct for the Troika cannot see any change in thinking for that means they must admit that they were wrong from the outset.

Keep in mind: do not keep all of your money in one place. Keep a stock of cash outside the bank. Cash is recognizable for daily transactions, for now.

On an aside, I wonder how long it will take Francis to understand.

Hopefully it’s before the Church’s money runs out.