Paul Craig Roberts PROPAGANDA IS LEADING TO WAR

Dr Paul Craig Roberts: You know many of the Greek governments have been known for their corruption and it appears that much of the existing Greek sovereign debt was created by foreign banks coming to governments and saying, “Hey, - for example, this is an example. A German bank comes and says, “Wouldn’t you like to borrow a few billion Euros and then you can buy some German submarine in Germany. And by the way here’s a bagful of money for going along with the deal.” So a great deal of the loans never came into the Greek economy. The Greek government was there collecting the fee for indebting Greece so that for example German manufacturers could get orders. So that’s origin of a lot of this. That’s one way they got in trouble. Another way they got in trouble was by joining the E.U., by joining the Euro because any government that is a member of the Euro zone; you see the British are in E.U. but they’re not in the euro, they kept their own currency. They have their own central bank, so the British government can finance itself but not the governments that are dependent on the Euro because they can’t print Euros. They essentially don’t have a central bank and so they cannot finance themselves. So a country that can’t finance itself is not really sovereign. So these are the two ways they into the trouble. And of course they were helped in to the Euro by Goldman Sachs which came in and devised a scheme for the Greek government to hide the debt. They created I think some kind of derivatives that sort of hid the debt so that they met the requirements for joining in to the Euro. So Goldman Sachs played a hand in this as well. So that’s how it came about.


The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more