Tag Archives: Gnomes of Zurich

Mad(e) in Sweden

We have seen the news for weeks now on how one activist named Greta Thunberg, one activist who will be exactly 201 months old in 3 days is shaming politicians all over the world on environmental issues, and she is 100% correct. Even now as I see how she privately met with Canadian prime minister Justin Trudeau and how she is urging to do more for the environment, the media is eating it up and spewing how one girl is fighting the established order like David met Goliath, yet that is not what is in play is it?

When we see the tweeting sarcasms giving us ‘Make America Greta Again‘, we see what happens but we ignore the issues at hand; as does the media to the largest degree. In all the news articles I read there is one massive part missing, one part that is at the foundation of environmental failure, from Southern California to northern Canada, from the East of China to the West of Russia, they all accomplish the not mentioning of the one element that has been the foundation of this failure.

The non-politicians

We see that the noted climate change sceptics are all doing someone’s biding, yet we do not see who they are ‘fighting’ for. We have entered an age of Corporatocracy, they are the powers in the US, in Canada, and they seemingly have the largest sway in France, Germany, Italy and Spain. They have large footing in most monarchies and for the most they have a larger iron grip in Russia to the degree we never fathomed. Through Corporatocracy the growth of billionaires has never been stronger and they want their wealth and they need it to keep on growing. Over the last 8 years their combined wealth went from $2 trillion to $8 trillion whilst the amount of billionaires dipped a little, it is harder to enter that pool whilst those in that pond are growing fatter day by day, in that pool the premise of environment has no hope of survival and until these governments take back the power from these corporatocratics and give it back to the people and the established order there will be no change, it will only get worse.

The fact that the EU gravy train can continue almost completely unhindered is evidence still to a failing much larger that anyone fathoms and as these corporations are shareholders, stake holders and advertisers, the media will only respond to actions that the controlling corporatocratics find acceptable. That is the failing in this entire matter and the fact that the media is ‘catering’ to her is only a viewpoint towards populist stages that are under control of the corporations, it will instil them to make ‘environmental’ donations, but only as long as it can be wielded as a form of advertisement and exploitation down the road. For them it is a double whammy, because Greta Thunberg is doing the right thing and she is fighting all the right windmills, as she is seen as a larger greater good, the people will herald her, yet in their hearts they know that almost nothing will come of it. For the ruling of Corporatocracy is bound to the needs of Wall Street and surpassing those set markers. As they play their games they basically surpassed the Gnomes of Zurich, the Swiss bankers that dictated economic policies for decades, yet as economic dictates moved more and more towards Wall Street and as the Gnomes of Zurich revoked their legendary discretion matters we see that Wall Street becomes the more powerful voice and without the balance that the Gnomes of Zurich brought to some degree we see that only the bottom line remains, a bottom line that is about profit and set on a stage of ‘contribution’ (a better stage of profit metrics), as such the environmental stage was mostly removed and in Sweden it is still at an all-time high because monarchies are about the whole nations, not just the actual consumers and facilitators, like New Zealand their environment needs are among the highest. So whilst the Guardian (at https://www.theguardian.com/environment/2019/sep/27/greta-thunberg-justin-trudeau-meeting-climate-strikes) gave us: “I really believe in Greta’s movement. She is doing amazing things and it’s great that she’s able to press politicians to act on climate change, during an election“, the quoted was 13 year old Annabelle Vellend, the reality is that whatever gain she makes, it will be small and optionally overturned within 2-4 years. In the end when it crosses the needs of Wall Street hard choices will have to be made and in that stage there is a close to 100% certainty that the environment loses.

That is the reality of the matter and the media knows this, they merely like to sprout the fairy tail (pun intended) and when that tail gets shortened it was not due to a young lady of 200 months, it was merely the heart of the economic matter, yet it will be voiced in such a way that it still reads lovely, because that is how the shareholders, stake holders and advertisers need it to be, and as long as the corporatocratic engine is not shown in the out and open this game continues.

In the end Corporations will claim that the desire from Sweden was nice, but in the end not attainable, it was mad to think it ever was, when you see those words consider who you elected and who they enabled in the process, it does not matter which side you elect, corporations have elected beneficiaries on both sides of the political line, it makes continuation a certainty. And whilst we see the positive spark of ‘planting of 2,000,000,000 trees‘ consider what some forests will be valued at for cutting in 3-5 years, and who gets that profit?

In the end this is not a failure of Greta Thunberg, it merely shows the world where the media is at, did you consider that part of the equation?

 

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Is it all Greek to you?

Let’s take a look at the issues!

First there is Bloomberg who on April 11th headlined ‘Greek Bond Sale Tops $4 Billion in Return to Markets’ (at http://www.bloomberg.com/news/2014-04-10/greece-readies-bond-sale-as-athens-car-bomb-reminds-of-upheaval.html), a nation with 11 million have notched up their debt by hundreds of billions, no options at present to repay it and again they are allowed to push new bonds into the market.

My first issue: I want to see a list of names of people that allowed for this. There will be no excuse, no non-clarity; they are to be presented by a panel of economists explaining the rationale for this and it should be presented live! (I wonder how long it will be until we hear ‘carefully phrased denials on lack of clarity‘ in regards to who drove this).

I already gave my view on May 18th on my article ‘Are we getting played?‘ (at https://lawlordtobe.com/2014/05/18/are-we-getting-played/), where I stated: “The investor relies on information like credit ratings (from places like S&P and Moody for example) to make an assessment on how realistic the investment is. The fact that almost a month later the quote ‘Greek lenders are likely to face large losses over the next two years’ is seen, gives rise to the question whether any upgrade to the credit rating was valid“.

It seems clear to me that Greece is unable to manage its economy, its debts and its options to repay the debts. Can we please have a vote whether Greek economic affairs should as per January 1st 2015 be managed by either Germany or Turkey (Turkey is not that great an idea, that’s just me being mean)? It seems clear to me, for a long time now, that pouring money into a hole, whilst people keep digging themselves deeper will not result in any resolution. There has been clear evidence of gross negligence for over a decade; as such other measures will be required.

The Bloomberg article states: “Greece today took one more decisive step toward exiting the crisis,” Samaras said. “International markets are now expressing in the most undoubted way possible their confidence in the Greek economy”, I state that this is not the case, Greece is nothing more than an upgraded vulture option, todays information clearly sees this, let’s just be clear, this is just a little over 6 months AFTER that so called vote of confidence.

The second part we see with “The government and European Union predict that the Greek economy will expand 0.6 percent in 2014 after six consecutive years of contraction that has cost about a quarter of the nation’s economic output and sent the unemployment rate surging” I believe we are being intentionally misinformed here. If we look at http://www.tradingeconomics.com/greece/gdp-growth-annual, we see that this year Greece’s GDP annual growth rate is growing by 1.9%, a growth of 1.5% in a year, whilst this nation is in such disarray, such debts and such levels of unemployment, there is, what I see to be an intentional attempt to misinform people. The standards used are no longer applicable. With a little over 1 out of 4 without a job, this nation is a mess; numbers are withheld, or misrepresented, not unlike the entire Goldman Sachs issue in 2010. If you doubt my word against that of those economic ‘boffins’, then look at today’s news.

 

We see ‘Grexit fears send Greek bonds and shares sliding‘, which the Guardian stated 10 hours ago. The quote “The Greek stock market is plunging to new depths, after the prime minister issued dire warnings of chaos ahead if his party were ejected from power“, as well as “Greek Prime Minister Antonis Samaras on Thursday accused opposition SYRIZA of bringing back Grexit fears and sending a message to the markets not to lend to the country by declaring its sovereign debt unsustainable“. By the way, in my view, the debt was never sustainable. When we consider 300 billion, over 11 million, we see that every Greek needs to bring 27,300 to the table, one out of four has no job, so that costs extra, as well as bring the cost per working Greek now to a little over 33,000. If the average Greek brings home a little less than 10,000, you can see that they come up short by a lot. By the way at 5%, the interest to be brought in would be 20% of a Greek income, whilst at present Greece cannot even properly budget its nations. So, as we look at these numbers, can anyone explain how Greece considers its debt to be sustainable?

Those who allowed Greece to fall in this deep hole should be made public and named, and we are talking Greek names here. Someone signed up for unrealistic debts, misrepresented presentations and the Greek government presented it. The Greek people have a right to know who were behind this titanic blunder. The fact that Austerity measures are not kept and the system is not cleaned up only helps to make a case that Greece should not be allowed to continue to be part of the EEC, because at present they are not in a small measure, the risk, which they could now enable the Euro to collapse completely.

If we consider the reasoning of a quickened election by PM Samaras and the message “Athens exchange has now tumbled by 7%, meaning it has shed 20% of its value since Samaras decided to accelerate the presidential election to next week“, we should wonder why this change is now being made. There are conjectures in play too (partially by me at this point). When we consider another (non proven source, at http://www.zerohedge.com/category/tags/greece), we see ‘Greece Suffers Biggest 3-Day Crash In 27 Years‘, here we see the quote “Did we just get a glimpse of the ugly reality hiding behind the veil of status-quo-maintaining central-bank-sponsored manipulation?“, I have written similar thoughts, but mine were not founded on economic knowledge, just on the data I looked at. One response there was “Central bankers have lied to a false prosperity and zero interest rates as if there is no risk remaining“, which is in line of what I have noticed with economies all over the EEC, I call it ‘managed bad news‘, which seems more apt, but when we see a 20% crater in what is laughingly called ‘Greek valued bonds’, my euphemism of carefully cautious labelling can be thrown out of the front door and perhaps it should be called ‘intentional manipulation for the profit of a few‘. Proving that part takes a little more time, yet those behind the curtain will not be held to account in any way, shape or form and legislating these events seems to be a large ‘No No!’ as well.

So where to look?

Well, if we look at the news CNBC gave us on November 19th, we see “Yields this week have not reached the 9 percent level hit in mid-October when negative sentiment surrounding Greece spread to global markets. However, rising debt yields do highlight that the country’s economic woes are far from over, with a crucial deadline in early December looming large on the horizon” (at http://www.cnbc.com/id/102198319), we also see the following quote “The country managed to exit recession this year and post a positive gross domestic product (GDP) figure last week, but political wrangling has continued nonetheless“, so ‘manage to post a positive…‘, positive by what standards, as well as the part ‘managed’, managed how? Through manufacturing or through manufacturing the books (aka cooking them) with possible assistance from Goldman Sachs or a like-minded institution? The lack of clarity as well as the lack of clear numbers give pause to consider how bad an idea it was to let them back onto the bond market last April.

The final part we get from the Guardian (at http://www.theguardian.com/business/live/2014/dec/11/russia-central-bank-interest-rate-hike-ecb-loans-live#block-54899bc7e4b09dc257b7f1fe), where we see “The 10-year Greek bond is now yielding over 9%, up from 8.7% last night. And the three year bond is now yielding more than 10%, as nervous investors demand a bigger premium for holding debt that matures sooner“, so from a mere 5% to almost 11%, doubling the dividends, is ‘sponsored manipulation‘ THAT far-fetched? I want to see names of those behind the curtains, they are no Wizard of Oz, they are what used to be called the ‘Gnomes of Zurich‘, yet in this day and age, they are virtual, and none of them reside in Zurich, that’s just too old school.

In the end where it their (and our) money, in the form of dividend going to?

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