The fact that Greece is in serious economic trouble is not news. In fact, to many, the attempts to solve Greece's troubles has gone on so long, with so many permutations, that the whole issue has become tiresome. Another downgrade of the debt; another bailout; another film clip on television showing rioters in the streets… it's just one small country – why all the fuss?
The Greek system of national fiscal management can understandably be regarded by news-viewers as a dog-and-pony show, and those who recommend that the plug be pulled may well be justified in believing that watching Greece crash and burn would be a useful warning to other countries whose debt and entitlement policies are pushing them towards the brink of insolvency.
In light of this reasoning, the EU's effort to somehow salvage this particular sow's ear might seem to be out of all proportion to the importance of Greece to the world. It suggests that – at least to the EU – there is another issue at stake.
The Federal Reserve of the US has positioned itself as the lender of last resort to the entire western world. Fed Chairman Ben Bernanke has recently confirmed the Fed's assistance in working with the IMF to assure that Europe stay afloat. In turn, the IMF has confirmed a new rescue package for Greece. This commitment has even led China to confirm its interest in contributing to the rescue.
Meanwhile, some respected economists of the Austrian persuasion have stated that it could be argued that the EU and the euro would both be strengthened if Greece were to exit the EU. Conversely, others argue that Greece must be bailed out at all costs – not because Greece is important as an economy, but because, if Greece fails, it would be the first domino to fall away from the EU and could trigger others, such as Spain, Italy, and so on. In fact, other countries in Europe are on-line for so much Greek debt at this point that the EU itself could experience a crash as a result of the news of an exit from the EU by Greece.
Certainly, the fact that a portion of the Greek debt has already been unofficially forgiven through “restructuring” may serve as evidence that the money itself is less important to the EU than the appearance of the EU as a viable concept.
Yet another theory is held by those who believe that the entire EU concept is one leg of a plan by an Anglosphere Power Elite that seeks to create a one-world government during the 21st century. Under this theory, the EU must remain intact, as a one-world government cannot succeed if some countries are allowed out of the plan.
Why All the Ruckus?
So, what does this all mean to those readers who are considering internationalisation?
Why should they bother using up valuable time monitoring this drama? Well, anyone pondering whether to get out of Dodge would be well advised not to wait until the Great Unravelling has fully taken place and the bottom has been reached with all its concurrent governmental controls. As confusing as the present situation is, there are and will be events that can serve as bellwethers – warnings that all will not end well in the countries of the first world.
The more bailouts that occur, the greater the warning. The more those bailouts extend beyond any sound fiscal reasoning, the greater the warning. The more interference by the EU in the sovereignty of Greece, the greater the warning. (The recent appointment of a prime minister without the courtesy of a general election comes to mind.) The more the commitment to resuscitate the dying economy extends itself beyond the EU itself, the greater the warning.
The purpose of this article is not to advise readers as to what move to make. Its purpose is to suggest that readers watch the behaviour of those who pull the strings regarding the Greek crisis and judge for themselves what direction they are headed in. How Greece is dealt with will most certainly be an indicator as to the overall objectives of the puppeteers.
The world press is full of spin as to the reasons for each event in this drama. However, if any truth can be extracted from the situation, it will be by seeing through the smokescreen and examining the actions themselves. The puppeteers, regardless of who we interpret them to be, will reveal themselves through their fruits.
Tags: economic collapse,