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https://www.youtube.com/watch?v=GqPiO1fz5NQ
With the bankruptcy of Greece now undeniable, we’ve finally reached the endgame of the Neocolonial-Financialization Model. There are no more markets in Greece to exploit with financialization, and the fact that the mountains of debt are unpayable can no longer be masked.
Europe’s financial Aristocracy has an unsolvable dilemma: writing off defaulted debt also writes off assets and income streams, for every debt is somebody else’s asset and income stream. When all those phantom assets are recognized as worthless, collateral vanishes and the system implodes.
The peripheral nations of the EU are effectively neocolonial debtors of the core, and the taxpayers of the core nations are now feudal serfs whose labor is devoted to making good on any loans to the periphery that go bad. (see chart of Greece’s debtors below)
Greece’s financial/political Elites milked the entry into the EU for all it was worth, effectively destroying the Greek economy in their limitless looting: Misrule of the Few: How the Oligarchs Ruined Greece.
What has already collapsed is the faith that institutions within Greece and the European Union can effectively manage the inevitable Greek default. As noted in the essay linked above, Greece’s power structure is designed to do one thing: protect vested interests and dissipate accountability.
The same can be said of the European Central Bank (ECB) and the European Union (EU). Both were sold as abstract financial magic: the Elitist power structures of every nation in the union–the ultimate source of the rot that is now emitting the foul stench of collapse–would be left intact while the economies of all member nations would magically produce more goods and services based on ever-expanding debt and leverage.
This leads to the critical question of the hour: who’s saving whom? Are last-ditch bailouts saving the Greek people and the integrity of their nation, or are they simply saving the political/financial Elites who benefited from EU membership and the systemic expansion of debt?
Here’s another key question: who’s being punished by the Troika’s “nobody defaults and gets away with it” policy? Clearly, the Greek people are being punished–but to what end? What about punishing the political/financial Elites who benefited from Greece’s entry into the EU and the banking Elites who profited from the irresponsible expansion of loans to Greece?
If Greece had defaulted four years ago when default was already visibly inevitable, the Greek citizenry would already have worked through the painful crisis of adjusting to a dearth of external credit and perhaps a new currency, and maybe they would have jettisoned their corrupt and self-serving Elites, clearing the way for sustainable growth and governance.
Instead, the Greek people have suffered for nothing. Default is still inevitable, as is the resulting EU-wide currency-political crises.
When systems are broke and broken, collapse is the only way forward. Only collapse breaks the grip of vested interests and opens the political process to non-Elite participation. By pushing default/collapse forward for four long years, the Greek Elites have punished their citizens for absolutely no yield on their immense suffering. Greece can no more escape the black hole of default than it could four years ago.
Central and private banking magic has failed. The idea that corrupt, self-serving Elites would magically create widespread prosperity by borrowing money that could never be paid back has collapsed, though the Power Elites of the Troika cling to this foolish fantasy because they have no other choice if they want to retain power.
The only faith remaining in the EU Elite is belief in the goddess TINA–there is no alternative. But there is always another alternative: collapse of the status quo and the assembly of an alternative arrangement that doesn’t concentrate power in the hands of a few at the expense of the many.
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https://www.youtube.com/watch?v=a3gBb9mVGCg
Virginia state senator and former head of the Criminal Law Division at the Pentagon, Richard Black: "This is an act of desperation. A last ditch attempt to attempt to draw the NATO countries, to give them some reason to come into the war on the side of the terrorists. I challenge anyone to give me a rational motive why they would use poison gas on the rebels. There's no motive. If there's no motive for a crime typically there is no crime."
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https://www.youtube.com/watch?v=oDVVmaojKZo
The Democratic National Committee is 'clearing a path' for Hillary Clinton to be its presidential nominee because its upper power echelons are populated with women, according to a female committee member who was in Las Vegas for Tuesday's primary debate.
Speaking on the condition that she isn't identified, she told Daily Mail Online that the party is in the tank for Clinton, and the women who run the organization decided it 'early on.'
The committeewoman is supporting one of Hillary's rivals for the Democratic nomination, and said she spoke freely because she believes the former Secretary of State is benefiting from unfair favoritism inside the party.
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Pope Francis has asked for forgiveness for scandals at the Vatican and in Rome, an apparent reference to two cases of priests and same-sex relations revealed this month during a major meeting of bishops.
“Today … in the name of the church, I ask you for forgiveness for the scandals that have occurred recently either in Rome or in the Vatican,” the pontiff said in unprepared remarks during his weekly general audience in St Peter’s Square on Wednesday.
“I ask you for forgiveness,” Francis said before tens of thousands of people, who broke into applause. The pope then read his prepared address and did not elaborate.
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Tesla Model S and Model X electric vehicles woke up October 15 to cars suddenly empowered to drive themselves down the road. The company’s software update—Tesla Version 7.0, installed via WiFi—includes its new Autopilot technology, which imparts a degree of autonomy to the sleek, high-tech cars. Tesla CEO Elon Musk announced the update via conference call yesterday, stressing that it was still in beta and that drivers will not be able to completely disengage themselves from the act of driving. "Because the software is still at an early stage, it's important people exercise caution," Musk said. "In the long term, drivers will not need to keep their hands on the wheel. Eventually there won't be wheels or pedals."
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Intelligence chiefs are hunting for a new Edward Snowden-style whistleblower who has leaked classified details about America’s drone assassination program.
CIA and Pentagon bosses are investigating after the publication of ‘The Drone Papers’ which includes Top Secret slides on how President Obama authorizes a kill.
The disclosure raises the prospect of a second Snowden-like figure, especially as the leak was published by the same journalists who worked with him before.
But unlike Snowden the single, anonymous source has already spoken out and expresses intense moral outrage over the drone strikes on theintercept.com.
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https://www.youtube.com/watch?v=XAdl_6V54Uk
Support this legislation to repeal the Patriot Act: https://www.congress.gov/bill/114th-congress/house-bill/1466/all-info
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https://www.youtube.com/watch?v=hY52SaGZEUM