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Is Wall Street waging “economic warfare” against the euro?
Published: 03 March, 2010, 14:01
Edited: 04 March, 2010, 21:53
Protesters clash with riot police during a demonstration in the center of Athens on February 24, 2010 (AFP Photo / Aris Messinis )
(10.3Mb) embed videoTAGS: Scandal, EU, Crisis, Currencies, USA
With Greece reportedly set to announce stringent measures to offset its crippling financial crisis, are US financial forces working behind scenes against the euro?
According to a recent report in The Wall Street Journal, the US Justice Department has launched an investigation into whether hedge funds – which include SAC Capital Advisors LP, Greenlight Capital Inc., Soros Fund Management LLC and Paulson and Co – banded together to drive down the value of euro.
The Wall Street Journal article reported a precipitous rise in large “short” positions being taken against the euro in recent weeks by the major hedge funds, who were said to have gathered behind closed doors to discuss their strategy.
”It is an attempt to create a new world monetary crisis. It is economic warfare to defend the dollar by attacking Greece and through Greece attacking the euro,” journalist Webster Tarpley told RT.
Investigators may consider whether such information sharing should be considered “collusion,” the Journal suggested.
In the meantime, crowds of people have taken to the streets in Athens to protest against job losses and salary cuts.
The European Union has expressed concerns about the situation in Greece as it might lead to major problems for the European monetary system.
Read also: Poor George Soros wants to destroy European currency again
03.03.2010, 00:49
75 comments
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Part 2 The bankers knew that this loan was going to go bad, but that didn’t matter because that was part of the plan. Then they took those $750.000 house as collateral, put it in some kind of mortgage backed fund and then bedded 100 time more so it would be $75 million and when the price of real estate went up, they get astronomical profits which was taken out of US and hidden in the Cayman Islands banks without any banking record in the official banking books. Then when the prices of the real estate started falling, they created an astronomical loses. Their plan was to bankrupt the USA and come back and but everything on the cheap with the profit which they made earlier when the prices went up. But what happened was the rest of the banking World said enough of this crime and theft and they said no, you cannot cash in on those money because that was created from fraud. And that’s how the World economic crises was orchestrated 2 years ago. When Obama took the office they refloated the bubble which was created during this fraudulent banking scheme which amounted to $4 quintillion dollars, by which these guys are broken to the core and mortally wounded because everything that they printed on their money printing machines since 1913 it wouldn’t amount to that much. Simply they are broke. The international banking cartel which had a total control of the World banking system for the past centuries is finally out of the game and they did it to themselves. Thanks God for that.
It doesn´t matter. Currency investors like Soros can attack the thai baht, the british pound or the argentinian peso....but they cannot attack the Euro, which is a hard currency. If they sell euros, much better for the competitiveness of the Eurozone, as far as inflation is under control, and it is at just 1%. Speculators cannot attack neither the drachma nor the peseta because they don´t exist. It is not possible to attack the "greek drachma" because it doesn´t exist. Inflation in the Eurozone is lower than in the U.S. and much lower than in the UK. Inside the Eurozone there is a single currency and exchange rate to the rest of the World, and Eurozone member states are their main trade partners, so no matter what "speculators" do, that position will not change. What is important now for the whole area is a weaker Euro for exports to the Dollar area, including China. The more the Euro falls, the better...as far as inflation is under control.
Part 1 George Soros and the cronies The Federal Reserve of US have been engaged in Economic Terrorism ever since its unconstitutional conception in 1913, (exclusive right to own money printing machines). This is what happened with the latest World economic collapse which left many people around the World devastated: when Bill Clinton was a President in USA, him and Alan Greenspan, (the Chairman of the Board of Governors of the Federal Reserve System), secretly passed a law allowing 100 time leverage, which means prior to this Law if you bought a $100.000 future contract, you have to had $10.000 real dollars, but with this new Secret Law you only needed to have a $1000 to borrow $100.000 which makes it much, much more high risk high return. The intention with this very high risk law was, for example, in California the banks were lending money to an illegal Mexican worker who was earning $12.000 per year, they gave him a loan to buy a house worth of $750.000 and he didn’t have to start re-paying money on his borrowings for the first five years, because he wouldn’t have them anyway.