On the US, European and Greek Crisis: A double act with Rick Wolff at the Brecht Forum

On 8th November 2011, Rick Wolff invited me to a double act at the Brecht Forum (downtown NYC). Our topic: Rick gave a brilliant wrap up of the recent developments on the US Crisis front. My brief was to start with Greece before discussing more broadly the European debacle. Afterwards Costas Panayotakis commented on my presentation before a pleasant and useful discussion was had with the members of the audience.

CLICK HERE FOR THE VIDEO (Rick Wolff – Yanis Varoufakis Brecht Forum double act, 8th Nov 2011)

In lieu of a summry, here are some of themes that I covered in my talk (which begins at around the 40th minute). 

  • Examples of market coercion from Greece
  • On the close link between the crises of the United States and of Greece
  • There is no such thing as a Greek Crisis – this is a crisis of Global and European Recycling
  • On the real causes of the deficits within the Eurozone (related to the monopoly-capital model of German growth)


  • It was a very cozy speech . Enjoyed it !
    Many subjects were highlighted .
    I have some questions but i have to think a bit , before
    i can articulate them in a manner that makes sense .

    Your strong point as a scientist i think is your capacity to view things from
    many perspectives simultaneously .
    To my understanding , this is very difficult , because as humans we have
    the tendency to subconsciously protect our personal interests .
    In general people from different generic classes have different views .

    Being a person living between two worlds enables and curses you at the
    same time to have a more clear understanding and a lack of feeling of
    belonging in a group , even if you want that .

    In our times , it’s the linking people who are most
    valuable .

    Enough of this psychoanalytical approach !

    So that’s the place all you leftists are hiding !?! 🙂

  • Yannis, this is extremely interesting and frustrating at the same time, because the Brecht center video keeps stopping at min. 20 and takes me back from the beginning (weird)…I tried to find it in utube, but alas…Wish there was another link. Any ideas?

    • i watched it without a problem .
      So something is wrong with your browser or video player .
      Try a different browser or make an update

  • Great speech/debate That was equal parts hilarious and cheerily terrifying! Good lordy I hope you’re wrong, i don’t imagine you are though:(

    • GREECE BANCRUPT? Why don’t see it this way? [Found on a forum. Interesting.]

      All of us in this world worked and had a living until recently. Suddenly the money is gone. Where has it gone? Well, we, the people, make money by contributing something to society. That makes the real money circuit. Others make money with money, they don’t contribute anything to our society but only suck real money out of your purse. Money is not a commodity but is to make barter easier. When we put 100 dollars of our real money into a bank, the bank is allowed to lend the real-money makers [us, workers] ten times the amount you put in or 1000 dollars. You think it is money but it is credit only, it has no value at all. Immediately they start cashing in, say 7% real money for it from you, or 70 dollars a year while you get 2% for your 100 dollars in their bank that make
      their business possible, so you get 2 dollars. Thus they make 35 times more than you do and on money that does not even exist. With their profit [interest], being your real money from labor, they buy up the world and return your real money to your real money circuit to start the game all over again. That way they become richer and richer with fake money without contributing anything to society. They eventually finance wars to keep their business going. When they overdo this, people are going short on their real money from labor and that is what causes the trouble in Greece. But don’t bother. They are not the only ones. This is happening all over the world now so stay put. Always realize that there are two money circuits: a real one and a fake one which is 10 times or more bigger and which is what the rich live on and keep us in line. Oh, there is a third circuit within the real money circuit from work: the black money circuit. But that is real money without paying tax for our society. In some countries it is 40% or more. Eliminate it and the country goes bankrupt. Is everything clear now? To stop them from draining you, put as little money in the bank as is necessary for barter and don’t borrow fake money.