STEVE PIECZENIK TALKS

The Intolerable Essence of Being Greece and the EU!

Stop renegotiating a fictitious debt that has already been discounted with an entity, the EU, that may no longer exist in a few years. For some time now, we have been witnessing a financial Kabuki where Greece and its ignoble, manipulative representatives are playing on the world stage while their country sinks into oblivion.

For the past year, I have stated very clearly that the best thing for Greece is to refuse to pay a debt incurred while doing business with Germany. Simply put, Greece cannot afford to pay anything, let alone fictitious debts denominated in the over-inflated Euro. At the same time, Germany knows all too well that there is no collateral that will guarantee any repayment, let alone one that is denominated in the billions. Both parties are playing an exasperating game which amounts to really nothing other than process leading to Erehwon [nowhere spelled backwards].

What should Greece do?

Get rid of all its present leaders who have made a mockery out of a country that once had a very noble history albeit centuries ago. These politicians know all too well that they are just kicking the can of insolvency down the road so that they can come later onto the world stage and play their farce once again. The most important reason for Greece to leave the EU is the simple financial revelation that with their own printing press—in Drachmas—they can literally print their way out of trouble; instead of pleading to retain a currency—the Euro—which is nothing more than a paper barometer of the German economy.

In turn, Germany has to come to turns with the realization that Greece will never be able to ascend from this fictitious morass created by France and Germany to basically control the militaristic future of a Prussian resurgence a la WWI, WWII etc. The Euro is not a real currency that reflects anything other than the presumed strength of the once formidable,  Deutchmark.

Contrary to the world bankers and hedge fund managers accruing paper wealth beyond the diktats of the game, Monopoly, they are really nothing more than “Teddy Boys”[sorry Britain] playing with themselves. For the most part, currencies are nothing more than paper expressions of wishful thinking about a particular nation, commodity or assets. In reality there is nothing to back up the myriads of currencies floating around the world. All that moves around are electrons which indicate some number that may or may not having meaning; according to the receiver.

The Greek debt is as much a myth as the European Union is and will be. There is no real European Union! What we have is a group of former politicians in one country refusing to give up their past personas in order to play again in a country which can’t even garner a Prime Minister, let alone a efficient government. And that basket case of a country –Belgium—has become the epicenter of the fictitious European Union where more countries are performing under par [France]; or, completely out of step with German growth like Spain, Italy, Ireland, Portugal [PIIGS].

In reality, the EU has become somewhat of psychological burden on the financial systems of the world, having to work through national companies which are highly subsidized like the French or even the Spanish. Only those countries that have grown strong have retained their own currencies, denominated in numbers that can attain whatever ratios are needed for trade. Witness the Swiss Franc that broke through the ersatz basket [or snake] of the Euro to ascend into one of the strongest currencies in the world. 

Why?

For three hundred years, the Swiss have been successful in allowing their banks and FIFA executives to indulge in massive financial corruption without harnessing an ounce of moral indignation. And so, England, Norway, Sweden, and Holland have all quietly amassed an impressive growth picture while remaining relatively silent on the world stage.

Only the Greeks and Germans, and sometimes the French, scream ‘bloody murder’ when the Kabuki goes awry.

  Greece will inevitably default on its debt. 

In fact, if anyone bothers to take the time to read their balance sheet, one will find that Greece is in technical insolvency! In other words, Greece’s DEBTS EXCEED ITS ASSETS! If that is not bankruptcy, then folks, I have no idea what that term really means. 

The Greece/Germany two step has shown me how inept our own bankers, Secretaries of State and Treasury really are –when they announce that the world financial markets will collapse if Greece fails to pay its debts. It has already failed de facto to pay its multiplicity of debts. Nothing has happened to the world markets; simply because Greece and the Euro are not that important to Chinese, South East Asian and American GDPs [which is what really matters].

Russia, Ukraine, Eastern Europe are all nice geopolitical entities in which highly paid pundits revel about in their nonsensical discussions about Geopolitical Imperatives or the New Cold War. The truth is more ugly than that. China keeps growing. India will grow. 

Vietnam; Indonesia; Cambodia; Myanmar— will all grow.

Europe is the newest and oldest sense of the term is just not relevant!

America could become an asterisk in the history of the 21st Century if we don’t stop creating wasteful and complete inane wars thousands of miles from our shores—all in the name of “Peter Pan’s” Terrorism. We have a very weak growth capacity. We will enter a negative growth curve if we don’t stop producing the useless tools of a war that has no bearing on our future.. or national security.

Yet who am I? Just a lonely voice in the world of “bankruptcy”; whether real; or imagined. A word of wisdom to all countries and currency producers---Get Your Own Printing Press! No more worldwide Kabukis, its a distraction and its tiresome.