Tuesday, July 7, 2015

The Greek fallacy: Global system needs to cut everyone’s debt, not just Greece’s

Projection.  It is one of the most common forms of ignoring one’s own issues and problems by making public these same things in someone else.  And for months now the European Union has been projecting Greek debt as the singular monetary problem to the world, when in fact almost every one of the European economies are in the same state of affairs, and under the bondage of massive debt obligations.
At the point of the spear for Europe against Greece is the continent’s largest economy and monetary force, and antagonist for wanting to indenture or enslave the Greek people in their future.  That country is of course Germany, who ironically became the Union’s greatest financial power not simply through hard work and frugal spending, but by the very same thing that Greece is wanting to do for their own economy.
Through default and not paying off their debts and obligations.
Germany is the poster child for a nation that not only didn’t pay off their debt obligations once in the 20th century, but twice.  After World War I the Big Four (France, Italy, England, and the United States) placed war reparations on Germany for their engaging in an illegal war, and causing massive loss of life and property to several countries they fought in.  And by the time the 1930’s came about, the country had paid little towards its debt to the victors, and instead defaulted on it and rebuilt their economy to a place similar to before they engaged in World War I.


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