With our compliments to John Lenon:
Imagine there's no government
It's easy if you try
No bureaucrat next to us
Above us only sky
Imagine no October-18 Mafia
No statist pie...
Imagine there are no countries
It isn't hard to do
Nothing to kill or die for
No borders too
Imagine all the people
living life in peace...
Imagine no kleptocrats
I wonder if you can
No need for kickbacks
Real freedom of man
imagine all the people
Not bothered by statist freaks...
You may say I'm a dreamer
but I'm not the only one,
I hope some day you'll join us
And the world will live as one.
Central bank's artificial creation of credit is the culprit in the business cycle. As the boom turns into bust, the economy tries to readjust itself into a configuration that conforms to consumer preferences. That is why it is so essential for government to stay entirely out of the adjustment process, because arbitrary government behavior can only delay this necessary and healthy process.
Central banks must be abolished. Money needs to be defined by the government, perhaps as a quantity of gold as in the past, a basket of commodities, or something else in order to make payments and collect taxes. Once money is defined, the private sector is perfectly capable of creating the necessary quantity of money, as it did before the advent of central banks.
Individuals and banks should be free to choose what money they use. This is an especially controversial, but absolutely essential, component of a truly free society. The government may not force us to use infinitely-inflatable, green pieces of paper.
Historically, when left free from government-dictated currency, the overwhelming choice of individuals has been gold money, which has objective value, a stable quantity, and other qualities that make it an excellent form of money.
Interest rates on a gold standard are set by supply and demand in the marketplace; there should be no governmental manipulation of interest rates, and thus no ability of the Federal Reserve to create massive bubbles such as the dot-com and housing bubbles.
The recent financial crisis confirms that anarchy is much better than democracy. Only kleptocrats and looters do better in democracy. Wars, terror, massacres, and misery are instigated by governments, not people. Anarchy is an ideal limit; the closer a system is to anarchy, the better it is. We should all strive for anarchy now. http://venitism.blogspot.com
Democracy is killing banks. Piraeus Bank, Greece's fourth-largest lender, has just reported a first-half net loss of 820 million euros, hurt by an impairment charge from a planned Greek government bond swap. Marilizardism is the death cross of Greek treasury bonds.
Henry David Thoreau(1817–1862) was an important early influence in individualist anarchist thought in the United States and Europe. Thoreau was an American author, poet, naturalist, and tax resister. Celebrated economist Murray Rothbard(1926 – 1995) constructed the theory of individualist anarchism and proved it's the best possible political system on Earth.
Any bank can do much better in anarchy. Piraeus Bank has always said it believes there is merit in consolidation as long as mergers are friendly. The best thing that could ever happen to Greeks would be the majority of the functions of the Greek government were shut down permanently. Jefferson said the two enemies of the people are criminals and government, so let us tie the second down with the chains of the Constitution so the second will not become the legalized version of the first. http://venitism.blogspot.com
Greece, the cradle of democracy, has become the cradle of kleptocracy. Since democracy has deteriorated to kleptocracy, especially in Greece, citizens now consider anarchy. Murray Rothbard defines the state as that institution which possesses one of the following properties: it acquires its income by the physical coercion known as taxation; and it asserts and usually obtains a coerced monopoly of the provision of defense service over a given territorial area.
Piraeus Bank has been exploring tie-ups to bolster its financial strength in a bid to regain access to wholesale funding markets. Marilizardism has created a liquidity black hole for all Greek investments. Anarchy is the best thing that could happen to any bank.
Anarchist society is one where there is no legal possibility for coercive aggression against the person or property of an individual. Anarchists oppose the state because it has its very being in such aggression, namely, the expropriation of private property through taxation, the coercive exclusion of other providers of defense service from its territory, and all of the other depredations and coercions that are built upon these twin foci of invasions of individual rights.
On Monday, Greece's second and third-biggest lenders, Eurobank and Alpha Bank, formed Alpha Eurobank, the largest bank in Southeastern Europe. Global Tax Revolt was the first organization to report the October-18 2010 fiasco to all banks, hedge funds, big investors, traders, and analysts.
As a result, the yields of Greek treasury bonds skyrocketted, as no prudent investor was willing to touch them. Marilizard's stupidity cost October-18 Mafia many billions of euros! The only thing October-18 Mafia got out of this fiasco is toilet paper in the form of worthless Greek treasury bonds! CCU jail needs toilet paper anyhow!
Bundesbank has already decided to establish huge reserves to cover possible risks. The expected failure of Greece, which would lead to the bankruptcy of a few Greek banks, would increase the bill dramatically, because ECB is believed to have purchased Greek government bonds for €60 billion. Besides, ECB had spent about €100 billion on refinancing Greek banks. We criticized many times ECB's program of purchasing government bonds issued by ailing eurozone states. In the event of a bankruptcy or even a deferred payment, ECB would be directly affected.
There is no way any prudent investor will throw a euro in the Cradle of Kleptocracy, which is infested with marilizardism, the October-18 Mafia, charge stacking, and the cancer of socialism. Bank of Greece Pressident George Provopoulos declares more bank sector consolidations. This sets the stage for more changes that will form a very positive picture in the banking system.
Don't be fooled by any bounce of the marilizardist dead cat. Piraeus considers merging with state-controlled ATEbank and Post Savings, and rebuffs a bid by Marfin Popular.
Never catch a falling marilizardist knife. Apostolos Tamvakakis, President of the National Bank of Greece, would not rush into big strategic moves until there was more clarity on the outcome of the debt exchange plan and a test of Greek banks' loan books by BlackRock Solutions.
Piraeus bankers must be dreaming og anarchy! Piraeus reported a first-half net loss of 820 million euros. Its participation in a voluntary debt exchange led to one billion euro writedown. Bank of Cyprus has a first-half net loss of 112 million euros after taking provisions for a Greek sovereign debt swap and being hit by a domestic bank tax.
NBG bankers must be dreaming og anarchy! National Bank of Greece (NBG) made a big first-half loss on government debt writedowns and said it would not rush into big strategic moves, even as local rivals seek security in mergers. Banks cannot participate voluntarily in illegal acts, such as fiduciary imprudency. Bank directors are committed to bank's welfare, and not the public interest.
If bankers waive outstanding debts at the expense of the bank, this is a breach of trust and punishable by law. All those bankers, that IIF claims plan to participate in rollovers, might go to jail for violating the fiduciary duty of prudency! October-18 Mafia pressures the banks to participate, but it really opens Pandora's box.
Net profit at Greece's Intralot, the world's second-largest lottery systems provider, dropped 59 percent in the second quarter. Governments of many repressed countries, such as Greece, use marilizardist tools to manipulate netizens.
Marilizard Libel is accusing dissident bloggers of treason, Marilizard Spaghetti is hurling charges against innocent people, Marilizard Tower is a stack of imaginary charges to scare a blogger, and marilizardism is terrorizing dissident bloggers. October 18 is the international day against marilizardism, and October-18 Mafia is the marilizardist government of Greece. http://venitism.blogspot.com
The International Accounting Standards Board asserts the European financial institutions should have booked bigger losses on Greek government bond holdings during the recent results season. Banks are cheating with creative accounting, pure ans simple. God knows what the banks will do, when in addition to the 21% haircut, get a 50% haircut!
The Fourth Reich bailout of the Cradle of Kleptocracy cannot succeed, because the October-18 Mafia continues corruption, Kangaroo Justice, marilizardism, Marilizard Libel, Marilizard Spaghetti, and Marilizard Towers. October-18 Mafia is the most disgusting predator of internet on Earth! Civil society was shocked by the brutality and stupidity of October-18 fiasco, initiated by the Ministry of Foreign Affairs of the government of Greece. That's why October-18 Mafia is the new name of the government of Greece! http://venitism.blogspot.com
Finnish Prime Minister Jyrki Katainen said he expects the government to solve the issue of how to help Greece in a matter of weeks as Fuehrer Merkozy demands a way out of a dispute over Finland's demand for collateral. Fuehrer Merkozy knows that only stupid investors would squander their money in a country addicted to kleptocracy, socialism, charge stacking, and marilizardism.
There is only one solution to the dilemma faced by the Greek government over its inability to borrow more money. Shut it down! Debt ceiling or no debt ceiling, deficit or no deficit, all of stupid ministries, agencies, boards, commissions, authorities, bureaus, divisions, services, administrations, and programs should be shut down. This is not complicated!
Greek company DEPA has won cheaper gas supplies from Gazprom, which shows Russian exporters have to compromise with European customers that are hurting under current pricing arrangements, but alays with a preferential treatment for Orthodox countries!
The bailout for the Cradle of Kleptocracy is taxpayers' hard-earned money blown out with the wind, because the October-18 Mafia continues corruption, squander, marilizardism, incivility, stupidity, charge stacking, and junketing. http://venitism.blogspot.com
Graecokleptocrats love the Greek debt crisis, because it takes the attention of Greeks away from the myriad scandals of the Greek government, such as the Siemens scandal, the huge kickbacks for purchasing defect military equipment, defect trains who do not fit the rails, churning the retirement funds of poor workers to generate commissions and kickbacks, airplanes that cannot keep balance, submarines that bend, swaps of prime state land with questionable monastery land, and so it goes.
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