Europe’s Greek Moment: My interview with TrumanFactor – in English and in Spanish

TrumanFactor interviewed me on Greece, Europe and the Modest Proposal. Click here for the english version and here for the spanish translation


  • I am lazy today, just posting what I wrote for a Irish Keynesian-Clown website.

    Crash of the Euro is now inevitable!

    In March 1948, Germans believed their savings were secure, but he new D-Mark was already printed.

    What we witnessed in the now three years lasting undemocratic ECB monetary policy is a silent financing via the printing press of the financial Industry, camouflaged by grotesque programs such as EFSM, EFSF, or ESM.

    The ECB knows this since long, and their policy of protracted defaults is extended as long as possible, come 2013, all of ECB’s interventions will be automatically inflationary.

    The public discussion is steered and manipulated by vested interest groups, and is oozing of lies. The focus is the always debtor, whether Iceland, Greece, Ireland, etc., the debtor is the exclusive subject of reporting, where in reality, the creditor should be in the spot light, not the debtor! This is part of the manufactured consent the public is bombarded and brainwashed with.

    This always was a war from day one. You might look at it this way, the combatants are the financial industry and the people, but if you look at it this way, then you will quickly realize that it is typicalasymmetrical warfare.

    The financial Industry outweighs government representatives multifold, by numbers, intellectually, and with many more weapons at their disposal than politicos can even dream about.

    The people on the other side are represented in this war by ‘politicians’ – They truly no longer deserve this title, they are nothing but soul less compliance managers. – and they have no say in the ways this war has been fought, not a sausage. Only Iceland asked their people, no other country did.

    The construct of the EFSF and ESM is illegal, but this does not matter anymore. Every single rule that was designed to guarantee a financial stability in Europe has now been broken, from the Maastricht limits to public debt, the ban on government funding through ECB, the no-bail out provision. Sycophantically grinning politicos are happily signing their country’s economic future away.

    Political expediency is the rule now, but High-Treason is the only proper description for their activities! Parliamentary power in Europe has been circumvented, whether in Ireland or in Germany, parliamentary democracy is no longer reality in Europe’s political landscape.

    The ESFS and ESM construct will be able to allow for multiples of the funds originally agreed on, only a fool who would think that Alexander Dibelius would not be one of it’s architects in one way or the other. He is the german equivalent of Peter Sutherland, the GS vampire squid’s executioners, the financial Pol Pot’s of today!

    There will be a time sooner than you think where emergency legislation is pressed through in Europe and laws will emerge that could disallow the private ownership of Gold for example.

    The financial version of european martial law is already in the drawers and they are ready to cut away your liberties, your citizen rights and more.

    • France and Austria already reduced the limit of anonymous gold buying to around EUR 600,…

    • My mind is now focused on what Mr Varoufakis had said that , as soon as there is an indication that Greece is about to leave Eurozone . Germany will exit Eurozone first .

      The decisions of Eurogroup are always one step behind . EFSF is not going to be implemented , even though it has been passed in the parliaments .

      New currency for Germany is on the way . According to my interpretation of Mr Varoufakis inferences : Germans had always in their minds this option as a resort . Given that as a hypothesis ,explains their reluctance in implementing or considering to implement the other options .

      Really !!! Really now , did we expect people who direct banks that thoughts of Humanism and global prosperity will cross their minds?
      Did we expect whale hunters to protest towards the prosperity of whale population ?
      Did we expect fur traders to protest towards the cruelty acted upon animals ?

      The naive and ignorant will insist that breaking this loop is paradoxical . Bankers don’t want to exterminate their assets ( people that have borrowed money ) , the end of capitalism ?! Whale hunters don’t want to zero the population of whales ! It’s what they do for living , they depend on it . Fur traders don’t want to eliminate foxes from the face of the earth !

      But what you haven’t insert in the equation is that , those are not living from their profession . They don’t actually live on the meat of foxes or whales . There is a phase change . They turn tuna meat , whale meat and fox fur into property , assets ! As soon as whales and foxes disappear , they are going to invest their property into something else . So there is a way out for them … but no way out for the foxes and whales … The loop has broken .

      It’s the same problem with the egg and the chicken . It’s not paradoxical ,because chicken does not lead to the first egg … but to a different egg. Thus the loop is only conceptual not actual .

      What about the stocks of the Attack Industry in their market ? Have they gone up yet? I am sure there is plenty of freshly earned assets to invest on them !

      It time to re-invent Democracy for the very same reasons it was invented in the first place .

  • Can someone tell me the percentage of government employees in Greece, including quango’s?

    • This figure tells you only the input side. If the same % number is efficient in one country and inefficient in another the benefits for society differ.

    • Thank you Yanis!

      Here is Dr G’s, Constantin Gurdgiev’s reply – his blog: – concerning the Irish situation:

      See Annex Table A2

      Public sector employees: excluding census employees:
      396,800 in Q2 2011

      QNHS for Q2 2011: 1,821,300 total employed

      implies % of public sector workers of 21.8%.
      Of course, earnings data on employees is different from QNHS, but…

      Constantin is, not surprising, somewhat of math wizz, and dissecting the establishment lies and smoke screens since a long time now.


      I am neither Libertarian nor Keynesian…or would fit in any of the official categories, I am an artist in the first place and this is not a question of left or right, but right or wrong instead!


    • @Georg: You have to check out the MCK study on the bottom of page 21. Greece has about the same government spend in % of GDP as the Netherlands or Germany. The difference is the outcome. It almost looks like they had to extend the axis just for Greece, which is sitting all alone on the very left…