The Greek Coup: Liquidity As A Weapon Of Coercion

The Greek government was thus broken Mafia-style at the knees, until it was forced to abandon its national sovereignty and watch its public treasures sold off piece by piece. Suspicious minds might infer that this was a calculated plot designed from the beginning to throw Greece’s prized assets onto the auction block, a hostile takeover and asset stripping for the benefit of those well-heeled entities in a position to purchase them, including the very banks, hedge funds and speculators instrumental in driving up Greek debt and destroying the economy.

No Sovereignty Without Control Over Currency and Credit

In the taped conference call for which Yanis Varoufakis is currently facing treason charges, he exposed the trap that eurozone countries are now in. It seems there is virtually no legal way to break free of the euro and the domination of the troika. The government has no access to the critical data files of its own banks, which are controlled by the ECB.

Varoufakis said this should alarm every EU government. As Canadian Prime Minister William Lyon Mackenzie King warned in 1935:

Once a nation parts with the control of its currency and credit, it matters not who makes the nation’s laws.  Usury, once in control, will wreck any nation.

For a nation to regain control of its currency and credit, it needs a central bank with a mandate to serve the interests of the nation. Banking should be a public utility, serving the economy and the people.

1 2 3 4
View single page >> |

Ellen Brown is an attorney, founder of the Public ...

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.
Freto 5 years ago Member's comment

You could call it a form of blackmail but was it not just a precursor to what a grexit would look like? The EU wasn't interested in negotiating, it was in or out & the new government blinked. They should have left the EU currency. They would get their debt relief as they would default on everything like Iceland. It would have been best for both parties & maybe it would help disband the abomination called the euro. The greeks [at least their government & probably half the country] were gutless. Get off the tit.

Stephan Larose 5 years ago Member's comment

Banks as citizen-owned public utilities. Good idea!