Greece Drops the Hammer: Declares European Debt Illegal, Illegitimate, and Odious

[bsbray]

The alternative community has been watching and waiting for this moment for months, if not years. Greece has not only declared that it will not pay all the debt that the European banking cartels are demanding from it, but that this debt is illegal, attacking the very legitimacy of these cartels and their extortions.

It was in April when we got a stark reminder of a post we first penned in April of 2011, describing Odious Debt, and why we thought sooner or later this legal term would become applicable for Greece, because two months ago Greek Zoi Konstantopoulou, speaker of the Greek parliament and a SYRIZA member, said she had established a new "Truth Committee on Public Debt" whose purposes was to "investigate how much of the debt is “illegal” with a view to writing it off."

Moments ago, this committee released its preliminary findings, and here is the conclusion from the full report presented below:

All the evidence we present in this report shows that Greece not only does not have the ability to pay this debt, but also should not pay this debt first and foremost because the debt emerging from the Troika’s arrangements is a direct infringement on the fundamental human rights of the residents of Greece. Hence, we came to the conclusion that Greece should not pay this debt because it is illegal, illegitimate, and odious.

http://www.zerohedge.com/news/2015-0...ate-and-odious


It's just a matter of time before the charade has to come to an end. Greece is not worried about European economic reprisals because Russia has agreed to expand economic relations with them. And Russia is a part of the BRICS, which is developing its own banks with currency based on real physical commodities.

[Windancer]

About time there is another country to declare the banking system a SHAM. Iceland was first, now do you think Americans, Canadians, et el, will get this picture, yet?

[bsbray]

The US government might as well be bought and paid for at this point. I think it's going to go down with the sinking ship. Once it goes down we can always rebuild, but I don't have much hope in the banking cartels in this country letting go of their control until they are forced.

The western banking cartels have forced economic collapses before, but they benefited from them. The difference this time is that if the system is allowed to collapse, there is no guarantee they will have any control whatsoever over what happens next. People are more informed, more ticked off, and there are multiple competing banking systems now (China, BRICS) whose currencies are based on real material value and will not collapse with the western system.

[Windancer]

but I don't have much hope in the banking cartels in this country letting go of their control until they are forced.

Neither do I, I always hoped people here would wake before a force though...just never to happen I guess.

[lcam88]

The difference this time is that if the system is allowed to collapse, there is no guarantee they will have any control whatsoever over what happens next.

I don't quite share that optimism. Fema camps, standing armies, and the might of technological weaponry along with perfect willingness to use them even if it doesn't prove any point at all along with what I consider to be a complete declension from righteousness.

Control of critical natural resources, equipment and required requisites being taken by informed people is something that requires planning and preparation, to think that in there can be a chance, out of randomness, that righteousness alone will emerge victorious is delusional at best.

At best, perhaps, steps may be taken so that economic collapse will not be as destructive to the current order, and that in face of the emerging "enemy" people, bank and government manages to hobble to the next "service station" so that it may be repaired. Ei, we continue this economic "slow burn" rather than a full blown collapse until we can reorganize ourselves into something less "profitable" and more sustainable.

Personally, my take on what is happening with Greece: they have made every attempt in good faith to work towards a meaningful result. In absence, they will grab the next low hanging fruit, Russia and China in exchange for some political or strategic positioning those nations might then have. Europe will balk but they will be weaker because Greece has set the precedent of what they may now do too. Everyone knows this and so when Portugal, Spain and perhaps Italy come to the negotiation table, things will be different. Result, not a collapse, but a slow burn.

The question is how both Greece and the IMF, EU and World Bank can save face to a Europe that is waiting to see what happens before everything burns completely. They can't appear to go too easy, perhaps the notion is that they better err being to hard because you can always go back and pick up the pieces.

[bsbray]

I don't quite share that optimism. Fema camps, standing armies, and the might of technological weaponry along with perfect willingness to use them even if it doesn't prove any point at all along with what I consider to be a complete declension from righteousness.

The Pentagon has control over all that (except for the FEMA camps), and I know that the idea was that they would turn the army on American citizens, but I don't believe the Pentagon will actually carry that out or that the American soldiers themselves would comply with it. I'm sure there are bad apples in the organization but it doesn't appear to be enough of them. And as of yet there are not enough UN or other foreign soldiers here (that was the other plan).

The Pentagon has also been rather openly fighting the CIA's mercenary armies in the Middle East, and Obama has sacked more than 200 high-ranking officers since he took office, and remember that the Naval offices in the Pentagon were one of the targets on 9/11, and important people were killed there and computers destroyed. The various branches of the military have split off with their own agendas and their own intelligence networks since WW2, not all of their structures are under any kind of official oversight, and they do not need to be cooperating with the fascist CIA/Bush/Rockefeller agenda.

[lcam88]

bsbray:

There certainly does appear to be more than one faction in woodworks.

I think a declarations of Martial Law will precede any such action to use military might against the citizenry. For now a police force equipped with military surplus seems to be the norm. I didn't have any intention to suppose there was pentagon or military industrial complex interest entanglements only.

We really don't know much about 9/11 in terms of these factions to declare how and where the Pentagon stands. It could be a double blind routine. And maybe the real story is out there, the problem is there are so many stories I don't think anyone uninvolved will really be able to determine which one it is. Furthermore, if they could make such a determination, there isn't any body with enough oversight or will to do anything except control public opinion. If actually so, we are left on the next step which is, the truth is known. Let the official policy continue as we know that they know and continue as normal.

Lastly, my understanding is that the pentagon wing hit was empty and undergoing reformations. That tracks with the two buildings being mostly empty (of people), but full of paper records (did you see how much floating paper there was in the streets that was caught by news coverage!); perhaps the Pentagon also had a field day at the "paper shredders" just as the financial community had. But what that actually means is just as speculative as the event itself.

I still think these factions have enough reason to continue the slow burn rather that escalate to crisis or collapse. For now it seems that there is still enough trust in the US backed system that they aren't scrapping it; people still want dollars. I am not sure if that is because they actually trust, or that they know no better. Besides the banking system still has a lot of control or influence in what happens around the world. No reason to abandon the sinking ship until it's actually condemned.

[bsbray]

Lastly, my understanding is that the pentagon wing hit was empty and undergoing reformations.

It was either undergoing renovations or recently had been, but there were still important naval officers killed there.

Some of this information is on the 9/11 Research website run by Jim Hoffman:

An office of the Army that had just re-occupied the Pentagon's recently renovated Wedge One, named Resource Services Washington, lost 34 of its 45 employees. Most were civilian accountants, bookkeepers and budget analysts. 3 Defense Secretary Rumsfeld had announced on the eve of the attack that more than $2 trillion was missing from the Pentagon.

More than half of the victims were in the Navy Command Center, a command-and-control facility on the first floor of the Pentagon's D-Ring.

Many survivors suffered horrible injuries. Kevin Shaeffer was watching coverage of the attack in New York City with co-workers in the Navy Command Center when the plane struck, instantly killing 29 people in the same office. Shaeffer sustained second- and third-degree burns over 40 percent of his body. 4

http://911research.wtc7.net/sept11/v...gonkilled.html

There was a chain of command for ordering intercepts on off-course planes. If the first link in the chain doesn't respond after so many minutes, it becomes the next person in the chain's responsibility, and so on. It's my understanding that when the Pentagon was attacked (and even if an aircraft struck it, it's apparent that bombs were also planted inside of it to ensure destruction) one of the officers in that wing of the building should have been picking up the phone to order an intercept himself, but this person was one of those killed. I can't remember his exact name or position as this was years ago, but I do remember reading a detailed minute-by-minute analysis of how the attacks unfolded where this information was included. This would suggest that this guy wasn't in on the job and would have spoiled things.

Also, Flight 93 does appear to have been shot down, as the debris was scattered over several miles, and some Vietnam vet residents of Shanksville and the surrounding area reported that they were sure that they heard jets chasing down the plane. According to some whistleblower accounts that were briefly making their rounds, it was a colonel who ordered this interception and he was disobeying direct orders, and was later fired. Either way it would indicate as well that someone in the chain of command was not playing along with the grand plan of things, and there was probably really was a 4th target.

That tracks with the two buildings being mostly empty (of people), but full of paper records (did you see how much floating paper there was in the streets that was caught by news coverage!); perhaps the Pentagon also had a field day at the "paper shredders" just as the financial community had. But what that actually means is just as speculative as the event itself.

That's true as well, and computer banks were also destroyed by one of the blasts that left those perfectly-round holes in the walls that looked blasted outward rather than inward. This may have at least something to do with the "missing" $2 trillion that Rumsfeld reported on September 10th, but as you say it's just speculation.

I still think these factions have enough reason to continue the slow burn rather that escalate to crisis or collapse.

As far as the Pentagon goes and the branches of the military it ostensibly oversees, I don't think they necessarily have much desire that the US go into any kind of crisis or collapse at all. I think that for the most part, the US military is genuinely invested in defending the US and focused more on the potential destruction of foreign entities rather than its own homeland, aside from the few bad apples that may be amongst them. If the US goes into chaos, the military is going to be in disarray as well. There is too much invested in infrastructure here at home.

On the other hand, these international banking cartels are set up in historic "safe spots" like Switzerland, with all of these rich families having houses all over the world, and borders to them are not such a big deal. The CIA seems to be the heritage of the Nazis (via Operation Paperclip and then its son-of-a-Nazi-banker director George W. Bush), and they don't seem to mind endangering the US and trying to drag it into catastrophic wars either, since it's not as much their problem once things get out of hand.

Anyway I think things are not so bad as to be hopeless, and especially with foreign competition and a lot of new pressure on the old banking cabal from non-western nations, this is really a great opportunity for a massive change in a positive way. Lots of positive changes have already been happening despite all of the dirty stuff, and it takes at least about a 600 year perspective to realize how massive the changes really are today. Ever since the European colonial era, European banks and families have been dominating the world financial markets (and later Americans by extension). But Europe represents only a fraction of world population, production, and real wealth. So it was only a matter of time before this situation changed.

[The One]

And remember folks i'll be watching.

[lcam88]

Very interesting read. Thanks for posting.

Billary? hmmm. I don't get it.

[bsbray]

Malc you are going to give someone a heart attack posting a blow up of that witch's head on here.

[The One]

Malc you are going to give someone a heart attack posting a blow up of that witch's head on here.

Have a bit more respect for you next president lol.Now what will Bill be called first man

[bsbray]

Have a bit more respect for you next president

I wish I could dispute that but her probable opponent (Jeb Bush) is probably no better, so it might as well be a crap shoot. Watch it be Bush vs. Clinton again. And no change in policy whatsoever. Pretty soon one of the two families will just declare themselves the new royals.

[OneOfLaw]

It just so happens...

One is actually working "in the system" at the federal financial supervision office (of course co-opted as well). there are many departments, oneself is in the insurance department, but today one has visited a friend who is working in the bank department and he got wind of people in this area of the institution are literally saying the Deutsche Bank is f*cked, this of course also means that the EURO is "f*cked" as well.

This does not come from some so called "bloaks" talking BS, this is communicated by people who supervise the Deutsche Bank as their duty to the federal government of germany which is the EURO actually and with it there the EURO gets "trash bined", going down the drain. The Deutsche Bank got recently rated even worse than the Lehman bank in 2008 before the crash. It is going to blow up into everybodys face from september onwards.
Just as a little additional notice from within the system here in germany. the mainstream media is now hyping it, being coerced and co-opted by the leaving class still as one of their last resorts they have left before being out of control and being unable to orchestrate.

[lcam88]

Points of consideration?

1. Euro and Germany only as strong as weakest link - Greece
2. Mess with Greece to leverage Germany into cooperations.
3. Neutralize Russia by freezing assets so that Greece may only have the IMF to turn to.
4. Who will blink first, Germany, or Greece.