“The Greek Tragedy of Debt” Was It Even Necessary, At All? Part 1

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Greek Debt to EU

An extract from the Q Wealth Special Report, by Kris Karlsson

With the Greek Debt Crisis dominating headlines around the world recently, especially since their historic “NO” in the Referendum Vote, it was difficult to base the latest Q Wealth Special Report on any subject other than Greece really.

The mainstream media circus came to town, or at least to Athens, and the major TV News Networks helicoptered in their most senior reporters to send back “live reports”.

It’s been difficult therefore to avoid being kept “up to date”.

And so therefore it’s not the intention of this Report to simply “saw sawdust” and “pick over the bones” of a story that we’re all no doubt very familiar with.

Perhaps instead, we could take a different approach, in an attempt to put the whole drama into some sort of context.

To do this, we need to compare the current, draconian way that the Greeks have been treated by the Troika “super powers” (IMF, ECB, EU), with the kid gloves, “softly softly” way that the Bank of England treated themselves, when they were going through their own Banking Crisis, back in 1914 at the outbreak of World War One.

As is about to become painfully obvious … not all “Bail Outs” are born equal.

Contrary to “received wisdom” that trickles down from the global Central Banking hierarchy, Austerity is not the only way … and there is more than one way to both “issue” and “repay”, Debt.

 

Compare & Contrast

As is so often the case, because history is “written by the winners”, all is not what it appears with this Greek Tragedy of Debt.

When we “scratch behind the headlines”, it become abundantly clear how harshly Greece and the other so-called “debtor nations” have been treated.

And when we then grasp some of the details of the glaring contrast between the Greek Banking Crises of 2015, and The Bank of England’s Crisis in 1914, then our entire outlook of what the very term “Debt” even means, alters dramatically.

But in order to make such a vital comparison, we need first of all to remind ourselves, of just what went on ‘behind closed doors’ in those ‘smoke filled rooms’ during the critical meetings between The Bank of England and the UK Government, immediately prior to World War One.

 

An Historic Collusion

The date was August 2nd, 1914, just five days after the Austro-Hungarian Empire had declared war on Serbia on the July 28th … and just two days before Britain declared war on Germany.

The Bank of England had for decades been lending to the Empires, Monarchs and Governments of Europe, and was thus massively financially committed to what was increasingly becoming “the inevitable war”

Finding themselves on the very brink of a full blown European War, the Bank of England reviewed their dire financial predicament, and knew that they were in deep, deep trouble … as was their “gold standard” monetary system, and their monopoly on the creation of money.

It situation seemed hopeless, and that only a post-war “Reparations” program, paid for by taxes collected from the defeated European nations’ tax payers, could possibly save them.

But even that wasn’t going to help.

They knew they weren’t even able to stumble over the ‘start line’ of the War, let alone survive long enough to be saved by the peace treaty at the end of it!

The facts were simply inescapable.

The U.K. and the U.S.A were the only two remaining countries yet locked into the rigid “Gold Standard” system by that time, but The Bank of England had “only” £9,000,000 of gold left in its reserves; reserves that were supposedly underwriting the entire country’s economy, as well as that of its banking and financial systems too.

Fine Gold Bars

The truth was though, that the very notion of a ‘Gold Standard’ was already complete hypocritical nonsense by that time of course, given that the UK National Debt alone by 1914 (prior to the massive spending splurge known as World War One) had already ballooned to an eye-watering for the time, £650,000,000 (with £9,000,000 of backing?) a staggering deficit to have run up, given their complete domination of world trade and territory over the previous 200 years.

Now that figure of £650 Million will feature later on in this investigation, but for now, given that the Bank of England was supposedly the “Lender of Last Resort”, it’s clear that the entire ‘British way’ of operating was in dire jeopardy.

And as of to add insult to injury, the Bank of England had just celebrated its 220th anniversary a few days earlier, having been establishment on July 27th 1694 … hence they were in no mood to relinquish the ‘centuries-in-the-making’ financial stranglehold that they had managed to enforce over much of the world.

The bottom line?

The central Bank of England would do “whatever it took” to ensure that they held on to their crown, but they were going to struggle to do so.

The huge fear that kept the Central Bankers awake at night though, was the same fear that always grips those who run any fraudulent Central Banking System …

… they feared a massive “run on the bank”

 

Read the rest of this Q Wealth Special Report, plus Parts 2 and 3 in the members section. Not a member yet? Please enrol here:

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