OPINION: Bankers and Gangsters



An image from Cyprus’ banking crisis.

The Jordanian people took to the streets for three days and nights in protest against a new austerity tax bill forcing Prime Minister Hani Mulki to quit.

They could no longer cope with the rising consumer prices and falling salaries; bread subsidies scrapped, fuel costs on the increase and added punitive taxation as part of the International Monetary Fund’s (IMF) Mnimonio conditions in exchange for government loans.

Citizens, so it seems, have become perfect victims and easy targets for bailing out incompetent (often corrupt) governments.

Banking institutions, on the other hand, control countries, governments, industry and people’s lives in their pursuit of global economic colonization. Never before in the history of mankind have banks held so much power – they now rule the world.

Like Iceland, Russia banned all IMF operations in that country, and yet nobody else dared to curb or stop banking exploitation in their own states.

This is so reminiscent of what happened in Cyprus and Greece but with a difference; instead of kicking those IMF/Eurogroup bankers out of the country, they bent over backwards to accommodate them — that’s how low the Greek nation has been reduced to in the name of poisoned loans.

Cyprus has to pay back €7.5 billion ($8.6 billion) by 2031 in 20 instalments on loans that were not really necessary -– there were alternatives available to the government but it stubbornly refused to consider its options. One can only ask why.

Misguided, the Anastasiades government did the unthinkable and robbed people’s bank accounts (bail-in) to save a corrupt banking system. That’s unforgivable. Today, it is selling the country’s silver such as: the Harbours and Telephones Authority, (it already sold Cyprus Airways last year), and is now selling the last remaining national bank and other assets to raise extra cash to meet its debt obligation!

But the most important question of all remains unanswered: Where did the €7.5-billion bailout cash go? What happened to the billions and billions of bail-in cash the government stole from people’s bank accounts? What happened to the other billions of income received from selling Laiki interests?

With those thoughts in mind it also triggers more questions, questions the government and the finance minister both refuse to offer an explanation for to either the public or parliament. Meanwhile the politicians remain silent.

Greece’s debt on the other hand is astronomical; it is so vast Greece will never be in a position to repay its current debt and yet the Tsipras government seeks more loans to finance fiscal incompetence and meet the interest payments on its massive debt.

An additional €1.6 billion may or may not be released by the IMF on June 21 and if approved, it will bring further austerity for the nation.

This is insanity on a grand scale. As long as citizens refuse to stand up for their rights (like the Jordanians did) governments and petty-politicians will simply ask for more of the IMF’s poisoned loans to finance their failure rather than stimulate exports, growth and productivity.

The Jordanian people did well but what happened to that Greek spirit of defiance? Where is it? Where is that revolutionary leadership? Some say it’s in hibernation…

*Andreas C Chrysafis is a UK-published author of five books.