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Europe’s Big Banks Are Fueling the Continent’s Far-Right Fascists


Europe’s Big Banks Are Fueling the Continent’s Far-Right Fascists

Walden Bello

For a moment this summer, it appeared that Greece had cornered its creditors. In a hotly contested vote in which their European neighbors openly intervened, Greeks overwhelmingly voted to reject more austerity.

In a controversial turnaround, however, Greek Prime Minister Alexis Tsipras then submitted to the demands of eurozone leaders for more austerity measures in return for a bailout loan of 86 billion euros. Tsipras lamented that he’d had no choice — resistance would have meant a forcible exit from the eurozone.


TPTB are likely just fine with right-wing parties coming into power–the better to keep the people in line.

When the neoliberal vanguards close in on their own death, don’t a good percentage of them understand they’ve done wrong, they’ve killed (albeit at a distance), they’ve starved children, they’ve stolen freedoms others died for?

Don’t they tell those around them, “Please stop this insanity. It wasn’t worth having this estate to have sold our souls to the devil.”?


“mocks and brushes aside the popular wish expressed in the Greek elections and it seeks to impose a policy of austerity, the continuity of a policy of austerity which the Greek people no longer want.” Posing a
rhetorical question no doubt asked by many Greeks, she wondered aloud, “Confronted with the choice, who will win? Democracy or Euro-Dictatorship?”

I find myself considering how Le Pen frames this to be highly revealing. It completely skirts the details, a good part of which are fortunately laid out in the article. The history of the extreme right precisely “…mocks and brushes aside the popular wish expressed…”. The rhetorical slam serves to leap frog over the fact that ‘democracy’ as currently being legislated is not democracy but oligarchy, and global at that. How convenient for whipping up frustrations into a froth (zillions of eency-weency bubbles) to be popped by the weight of the bubble of the financial frauds. Likewise as noted from the G20: “Where reckless behavior and a lack of responsibility led to crisis, we will not allow a return to banking as usual.” And of whom/what is this actually speaking; what precisely is the “usual” ??

Some interesting observations in the Keiser Report


My question: How many shares in these banks does the Catholic Church own?

Because there is a so-called socialist Pope who purports to represent this vastly rich entity with untold real estate and capital holdings, and which takes in billion$ and billion$ in untaxed wealth, and pays its priests, nuns, monks and teachers practically nothing.


Excellent article, for the most part.

I am most intrigued with this idea of “Inversion of Narrative.”

Robert Parry wrote many analyses of the manner by which Western media framed Putin as the aggressor in Ukraine when that was patently NOT the case.

U.S. media went on a RAMpage (The ram is the symbol for the warrior-Mars’ sign of Aries) after 911 and similarly insisted upon a patently false narrative of events. In that instance, all sorts of props were used to insist that Saddam Hussein was “gassing his own people,” and putting infants into strange incubators, and responsible for the attacks on the World Trade Center.

In the U.S., the right wing media went to work making low-income home buyers the sacrificial lambs and would-be causative agents for the global financial collapse. This relieved criminal banking enterprises of their criminal conduct.

Note how this same inversion now takes place with respect to Greece:

"As Mark Blyth writes, “sovereign debt crises are almost always ‘credit booms gone bust.’ They develop in the private sector and end up in the public sector. The causation is clear. Banking bubbles and busts cause sovereign debt crises. Period. To reverse the causation and blame the sovereign for the bond market crisis, as policy makers in Europe have repeatedly done to enable a policy of austerity that isn’t working, begs the question, why keep doing it?”

Why keep doing it is because… “The banks OWN the place.”

I am pointing out these distortions because their equivalents are used CONTINOUSLY to blame citizens for policies put into place–often by corrupt means and covert operations–by a variety of corporations that wield more financial power than many sovereign nations.

That’s why the sloppy use of the WE frame works to aid and abet this criminality.

If WE have no agency; if elected officials work the will of their corporate masters; if courts disallow citizens to hold “standing” or slap-suits tie up the principled efforts of organizations that uphold the Public Good in log-term costly litigation (a favorite tactic of corporations with LOTS of ready cash); and if “law” enforcement turns its weapons on the citizens fighting for a sustainable future for all… how then can the powers who have ABUSED their roles in society be granted immunity as is done by positing that WE all do “thus and so.”

It is time for language to articulate the distinctions between those who work for change and live by higher ideals and those who worship naked profit (mammon) and naked aggression (Mars’ rules). They are NOT the same.


This article reads like the circumstantial detail of how all politics is just a front for money… which in turn just a front for bully tactics.

Anyway, for what it is worth, Tsipras did have a choice. He could have resigned and gone public on all the shit that was aimed as his regime. The book would have made him rich enough for some good medical care when the bus ran him down. And the people would benefit from the odd crumb of truth coming out of the whole sorry empire. It would sure have smashed a few dinner plates in Brussels too. But his no-tie image was obviously just superficial fashion. He lay down. If he and his kind represent the only real opposition to oligarchy, the oligarchs have already won.


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This post was flagged by the community and is temporarily hidden.


Indeed. As a corollary: If pol’s like Walker, LePage, etc. are so unpopular with the (vaunted) people, how is it they keep returning to office?


Since both Greece and Hunland are in the EU and travel is easy between borders, I recommend that the 11 million Greeks travel to Hunland where they can reside legally and live on social security. It would take about 30 days to walk to Germany.


The New Plan - In1934 Germany designed an economic policy. It gave preferential trade treatment to nations that were willing to sell to Germany and receive payment in German goods. The Germans would then use the money left in Germany to buy and sell elsewhere. The advantage to the “preferred” nations was that they had a market in the depression. The disadvantage was that they could not absorb enough German manufacturing to use the money which was then tied up as “cash” in Germany.


To bring The New Plan up to date. Lend money to countries that can’t afford to borrow it. Then sell your products in those poorer countries (I have been going to Greece for 15 years, and the amount of German products sold there is mind boggling). The products are consumer products and also lots of military equipment, really high profit stuff. Then when the country goes broke, beat it with a stick until you get all the money back from the middle class and the poor.