Where did the Greek bailout money go? Only a small fraction of the €240bn (£170bn) total bailout money Greece received in 2010 and 2012 found its way into the government’s coffers to soften the blow of the 2008 financial crash and fund reform programmes.
Most of the money went to the banks that lent Greece funds before the crash. Unlike most of Europe, which ran up large budget deficits to protect pensioners and welfare recipients, Athens was then forced to dramatically reduce its deficit by squeezing pensions and cutting the minimum wage. The troika of lenders first stepped in during the spring of 2010 after Athens could no longer afford to finance €310bn borrowed from a wide range of major European banks. Two years later, the International Monetary Fund (IMF), European commission and European Central Bank (ECB) came up with a second bailout that centred on a €100bn debt write-off by private sector lenders.
The IMF Has Made €2.5 Billion Profit Out of Greece Loans. By Jubilee Debt Campaign / jubileedebt.org.uk The IMF has been charging an effective interest rate of 3.6% on its loans to Greece.
This is far more than the interest rate the institution needs to meet all its costs, currently around 0.9%. If this was the actual interest rate Greece had been paying the IMF since 2010, it would have spent €2.5 billion less on payments. Out of its lending to all countries in debt crisis between 2010 and 2014 the IMF has made a total profit of €8.4 billion, over a quarter of which is effectively from Greece. Iceland Dismantles the Corrupt - Then Arrests Ten Rothschild Bankers. Bankers Arrested In Iceland, Ireland, UK, USA, Switzerland, India, France, Ru... How The Federal Reserve Steals Your Money & Why It Must Be Stopped. Please support us and follow our Facebook page A simple animated explanation of HOW the private Federal Reserve steals your money and WHY it must be stopped We are all being scammed by the most basic elements of our government system.
Do you know how your money is created? Or how banking works? Why did housing prices skyrocket and then plunge? The film below takes an entertaining but hard hitting look at how the problems we have today are nothing new, and why leaders throughout our history have warned us and fought against the current type of financial system we have in today.
This video certainly opened my eyes and after watching I urge you to share it everywhere with everyone you know. Comments comments [social_wp] Fed’s Regional Banks Are ‘Unconstitutional,’ Brookings Paper Says. What is of particular note is that this paper comes from a Brookings Institution scholar.
Brookings is generally liberal in its disposition. Rogue bankers. Banking elite. Debt free $ For the last time: poor people didn't cause the financial crisis. Ever since the subprime mortgage crisis broke in 2008, certain corners have clung to a narrative that centers not on reckless risk-taking by big banks or poor regulatory oversight but on, well, poor people, and the policies meant to help them afford homes.
According to this theory, policies meant to improve access to credit among low-income people and disadvantaged minorities, most notably the Community Reinvestment Act of 1977 (CRA), encouraged banks to make risky loans, which eventually fell through, causing the crash. While many conservatives, like former Fed governor and Bush administration economist Randall Kroszner, rejected this view, others — including Charles Krauthammer, former Rep.
Ron Paul (R-TX), former Gov. Mike Huckabee (R-AR), former Rep. Michele Bachmann (R-MN), and even ex-New York mayor Michael Bloomberg — have embraced it. Atm fees. Andrew Jackson. Bad time. Dollar. Billions on wall st. Revolving door. Freddy vs banker. Supes. How the I.R.S. Abuses Criminal Law to Steal Money from Innocent Americans. Carey Wedler October 27, 2014 (TheAntiMedia) Over the weekend, the New York Times revealed that the Internal Revenue Service has been abusing a civil assets forfeiture law intended to target drug traffickers, racketeers, and terrorists.
Instead of catching “evil-doers,” it more commonly uses these policies to confiscate money from innocent people without ever charging them with a crime. The I.R.S. justifies its confiscations through what it calls “structuring,” or depositing less than $10,000 at a time to avoid having to report income-this is illegal. Pursuant to the Bank Secrecy Act, deposits of over 10,000 dollars must be reported by banks to the government, but the government also requires that banks report deposits under $10,000 that seem “suspicious.”
Last year, banks filed over 700,000 reports, and often, a mere bank report is enough for the government to obtain a “seizure warrant.” Subsidies. Thomas Jefferson. This dollar can buy. We'll print more. Henry Ford. The Confidential Memo at the Heart of the Global Financial Crisis. When a little birdie dropped the End Game memo through my window, its content was so explosive, so sick and plain evil, I just couldn't believe it.
The Memo confirmed every conspiracy freak’s fantasy: that in the late 1990s, the top US Treasury officials secretly conspired with a small cabal of banker big-shots to rip apart financial regulation across the planet. When you see 26.3 percent unemployment in Spain, desperation and hunger in Greece, riots in Indonesia and Detroit in bankruptcy, go back to this End Game memo, the genesis of the blood and tears.
The Treasury official playing the bankers’ secret End Game was Larry Summers. Today, Summers is Barack Obama’s leading choice for Chairman of the US Federal Reserve, the world’s central bank. If the confidential memo is authentic, then Summers shouldn’t be serving on the Fed, he should be serving hard time in some dungeon reserved for the criminally insane of the finance world. Obey your dictator. "The House of Rothschild: Money's Prophets" [Documentary] Feudalism. Nicholas Wilson exposing HSBC fraud!!!
Out of options, bank fraud whistleblower turns to Twitter. The wolves are at the door for Nick Wilson.
The bearded 57-year-old meets me at the station in the rickety old town of Hastings, on the south coast of England, famed in this country for the 1066 battle. In more recent folklore, Hastings is said to have been cursed by the occultist Aleister Crowley at the end of his life. Wilson, who goes by the name Mr Ethical on Twitter, is adamant that he’s been jinxed, too—by his former bosses, who made him a pariah after he blew the whistle on what he claims is massive financial fraud by one of the world’s biggest banks.
After stopping off at the pharmacy to pick up medication for his anxiety and depression, the sandal-clad Wilson shows me into his rundown cottage overlooking the English Channel. Monopoly rules. Doesn't grow on trees. Rothschild 2. Rothschild. The truth is out: money is just an IOU, and the banks are rolling in it. Back in the 1930s, Henry Ford is supposed to have remarked that it was a good thing that most Americans didn't know how banking really works, because if they did, "there'd be a revolution before tomorrow morning".
Last week, something remarkable happened. Wall Street’s civil rights disgrace: Inside a quiet, evil lobbying effort. Since the financial crisis of 2008, a defining question has been how to rein in Wall Street’s most reckless practices.
In the face of the Dodd-Frank Act, a nascent Consumer Financial Protection Bureau and some impressive legal settlements against banks involved in securities fraud and abusive loan servicing, Wall Street has not been shy about taking countermeasures.