Paul Craig Roberts – Over-lending to nations is a looting system, designed to destroy sovereignty

The IMF says the austerity being imposed on Greece is a mistake.  Only the EU is in favour of enforcing the impossible burden of debt.  The effect of enforcing austerity doesn’t reduce the ratio of debt, but raises it.  The austerity programmes have made it more impossible that the debts will be paid, not less.  So what is going on?

The EU is using the Greek debt crisis to destroy the remaining sovereignty of the European member states.  The result will be the loss of fiscal independence of the member states.  This is one of the final centralisations of EU authority over the member states.

 

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3 Responses to “Paul Craig Roberts – Over-lending to nations is a looting system, designed to destroy sovereignty”

  1. Lynn says:

    Who voted for this take over!! no one, this was a huge lie to loot all of us. Asset stripping and stealing the rights of all. They knew exactly what their nafarious plan was. We fell into Tyranny and they have almost won. We are the only chance of change left. I really despair at how this has covertly been done. What the future holds now is very uncertain..

  2. Gordon Logan says:

    When I was at university back in the mid seventies, I asked economists about huge national debts and I was told that creditors were content with getting interest payments and didn’t want the payment of the ‘principal’. So everything was fine and dandy. The Vietnam War had got the USA into so much debt that the Fed had to close the gold window. With that the US national debt started to climb. The Jewish 9/11 wars have led to a colossal hike in the US debt as the Pentagon has pissed away trillions in treasure. Here in the UK, Cameron has played the same game and doubled the UK national debt in just five years. It’s unprecedented but the public is blissfully unaware of it. Carney has staved off disaster by keeping the BoE interest rate at 0.5% until 2020 – this is Jacob Rothschild’s reward for Cameron ‘s support of the neocons’ nuclear brinkmanship – of which the British public is unaware. Jacob Rothschild said it: ‘the geo-political situation hasn’t been so dangerous since 1945’ while his lieutenant George Soros calls for war on Russia and Victoria Nuland puts the fear of death into Tsipras, after wrecking Ukraine.

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