Surprise, Surprise! More Hypocrisy

panama-papers-820This week has seen the rage of citizens from around the world. And the fall of one Prime Minister, so far. The cause is the now infamous Panama Papers leak of documents from the Law Office of Mossack Fonseca. Ironically, once again the Western MSM followed ‘the rules’ and ran headlines of how Putin was named in the Panama Papers. Is there anyone in the US that actually practices journalism anymore? Putin was not even named in the documents that were released. However, the parents of British Prime Minister David Cameron were included, as well as, the Icelandic Prime Minister and his wife.

Iceland Protests Reuters Stigtryggur Johannsson
Reuters; Stigtryggur Johannsson

After the revelation of Prime Minister Sigmundur David Gunnlaugsson, at least 22,000 Icelanders protested for his resignation. For a country that has less than 330,000 residents that is a significant turn out. The UK did not see that kind of outrage, of course the UK did not oust its corrupt bankers either. So far about 200 Americans have been identified in the papers. Most of the Americans that are listed have some criminal involvement. However, the papers are still being scoured. The low number of Americans and the lack of high level Americans has people asking how that is possible. Maybe there is some truth to the theory that American intelligence had something to do with the leak or at least the hack.

The fact is that the US has ‘in-house’ tax havens. Some states, such as Wyoming and Delaware and others, have secrecy that is on par with the likes of Switzerland and the Caymans. The irony is that the US demands that other countries give them information about the banking of US citizens abroad, but does not return the favor. Matter of fact the US has such a hostile attitude about getting information from foreign banks that many Americans abroad have found themselves without banking options in countries they reside in.

The fall out will continue no doubt for weeks, and we will see more mention of Putin’s connections to listed clients, however, we will see very little about the other leaders that are named or have close family members implicated. The irony is that more than likely the connections to Putin, probably will not be as strong as McCain’s connections to known terrorists.

To see a partial list of names found in the paper.

 

BEAUTY OF THE BEAST

I starred at myself,
Then I looked in the mirror.
I saw nothing but bones covered with flesh,
Covered with soft pale skin.
But then how soft it really is,
Or as a matter of fact
How soft am I?
Day in and day out,
I see people die,
They kill each other,
No fear, no guilt.
It seems that humans are losing senses
It’s scary when you realize
Your thoughts can be read
From anywhere, everywhere.
It’s scary when you realize
That what you once had
Is no longer just yours,
It’s everyone’s.
You see people get murdered
Simply for saying things out loud.
For trying to protect others.
Humans are consumed
By being civilized,
By their own ideas of perfection,
By the hunger for money,
By the power of false…
Humans want to improve nature by killing it,
To improve health by destroying it.
Then I woke up realizing
It was only just a nightmare.
I woke up grateful knowing
I’m just a beast.

Euro Illusion

euros scattered
The EU is stating that Greece will need another bailout; this would be the third one for the country since its fall into the Euro Economic Chasm. If the amount of debt that Greece has occurred were limited to its current total of 350 Billion Euros it would take Greece about 175 years to climb out of debt. Of course, this would only be possible if not only does Greece not incur one more Euro of debt but also actually creates from today a sustainable national income that includes a surplus of an average of 3 Billion Euros per annum. These figures are simple and basic, they do not include interest or penalties or fees or other charges; but the simple numbers are enough to show the real horror that is the Euro Zone.
This is just another example of the EU not being the best thing in Europe. It is another argument against the Euro Zone and the EU in general. The EU was a very clever shift from military to political and economic dominance of smaller and weaker countries within the continent. This can be seen from Hungry to Cyprus, and Greece to Portugal. What the ‘big boys’ did not think about was how much it would cost them to have such dominance.
They are dragging their own economies down with them. Of course in reality most of the economies of the world are not real economies. These economies are illusions based on credit, which is based on debt. This means that all the “wealth” does not actually exist. The reserves are printing money that is backed by the debt of the public and the governments in banks that are listing profits that are based on the future payments of the same debts.
To put this in simple terms for the visualization of this set up look at the following example. In previous centuries, prior to the 20th, governments were expected to have gold bullion to back up their economies and banks were limited in the amount of their deposits that they could lend out. This restriction was to protect the customers, insuring that the banks would always have sufficient funds on hand to be able to meet the majority demands of the depositors. With the removal of the gold bullion backing of government, the money of almost all countries is literally not worth the cost and supplies of printing it, or simply put…not worth the paper it is printed on. As for the banks, they are now allowed to use a majority of their deposits for loans. In this set up if even a small percentage, as little as 10% in some cases, of depositors were to seek to remove their deposits it would destabilize the enterprise and have a ripple effect on the local economy, thus creating waves in the larger economy.
There are now calls for the removal of the Euro and for countries to go back to their original currencies. The reasoning for this is that there are not true standards that encompass all of the members of the Euro Zone, Cyprus isn’t as stable as France and Germany is more solvent than Spain and most of the little countries are drowning. The ironic thing is that little and not so little countries are still standing in line to jump off the cliff into EU purgatory.
Photo via: CNBC.com