PATHETIC Bank of Greece Soliciting Donations, DO NOT Donate

Let’s do another Orwellian decoding today. “Public Debt” is the Orwellian term. What does it really mean?

A debt is something I’m responsible for because I borrowed money from somebody that I ultimately have to repay. I chose to borrow the money, therefore I repay it either in liquid cash or assets I must liquidate, or if I have nothing, slavery.

What is a “public debt”? When the government takes money away from me by force and threat of violence, and then goes into debt, the debt is only “public debt” because the government has the ability to threaten me to with violence to pay back the debt they incurred using my money, that I never consented to. But because they can kill me if I don’t pay, and the same with everyone else, the debt is considered “public.”

What is it really? It’s government debt. It’s not “public debt”. I have no moral responsibility for this debt because I never consented to it. I’m only responsible for it insofar as the government can force me to pay it. It’s like saying a school bully who steals lunch money from kids and then uses it to incur debt, then says that all the kids he stole money from are now responsible for that debt.

If the bully is unable to beat the money out of his victims, the bully’s creditors will go after the bully. Same case with Greece. If the bully is unable to pay the debt, the creditors go after the bully, not the people the bully stole from. It is in the interest of the victims for the debt to be defaulted on.

So anyway, the Bank of Greece is now publicly soliciting donations for the repayment of its “public debt”.

I cannot think of a worse place to put your ma’aser. DO NOT donate to this cause. It’s so pathetic it’s beyond description.

Here’s the account where you can make donations to the IMF, ECB, ESM, EFSF and all the other bailout funds because Christine Lagarde and Mario Draghi need your charity.

Pathetic. But here’s the info, if you want to participate in bailing out the Greek government.

IBAN: GR 04 010 0024 0000000026132462
SWIFT/BIC: BNGRGRAA.

 

Peter Schiff: Stay the Course, Things are About to Get Rough

Peter Schiff’s understanding of economics, while not as good and in depth as Robert Wenzel’s for instance, is still very good when it comes to the end game. Whereas someone like Wenzel is arguably better at spotting more twists and turns within the business cycle, Schiff is good at pounding away at the inevitable.

While Wenzel holds that the Fed will nominally raise rates around September, Schiff holds that they won’t, and at that point, the cat will be out of the bag and everyone will realize that rates will never, ever rise.

Wenzel holds that rates will rise nominally in September, but will not rise fast enough to damper the coming price inflation. I don’t know which one is correct. I lean towards Schiff.

The key takeaway from this is that when spotting a bubble, you either look like a fool before it pops, or you look like a fool after it pops. Right now I, he, and all gold bugs, look like fools. But not for much longer. Bring on the ridicule now. Heap it on. In the end, we will have the last laugh, and it will be a big one.

Here he is, in one of his most powerful video blogs in recent memory, in my opinion.

Varoufakis to Eurozone: Everyone Should Help Pay Greek Debt Through Eurobonds!

Here’s another edition of “How to Explain Politics/Economics to a 4 Year Old”. I haven’t done this, but I may as well now. Economics really is the most important secular subject for people to understand because when some big politico gets up in front of a crowd and starts spouting finance terms, 999,999 times out of a million he’s trying to confuse you while he steals your money and you sit there and nod saying to yourself that it’s OK you don’t understand what he’s talking about because you don’t have a degree in this stuff.

But first, these little snippets are going well, so here’s another one. Varoufakis claimed 2 days ago that “He never gave the finger to anyone. Ever.” After being caught giving Germany the finger. Well, then he must not have hands.

In any case, Bob Wenzel at EPJ is picking up once again with what I figured out back in 2012. Varoufakis’s grand insane scheme for a United States of Europe. He’s couching it in a bunch of technical language about bonds and yields and coupons and agreements and treaties and trying to baffle everyone with his bullshit. Here’s what he wants, why he’s insane, and why this diarrhea of the mouth will certainly get Greece kicked out of the Euro for good. Now I’m sure of it.

How to explain this to a 4 year old (more or less): Let’s say I’m a central bank in my household because I’m the dictator and I have a monopoly over the money supply in my house. I decide what allowance my kids get. Now, one of them spends too much money and he has a bunch of debt he can’t pay. The other one stays in budget. Now, Varoufakis is saying the solution to this is to equalize the debt so both of my kids are now carrying the same debt burden so both of them can have an equal shot at paying it back. How PISSED is the other kid going to be?

That’s what he’s saying.  Instead of Greek bonds he wants Eurobonds. The Eurobonds will be issued by Eurozone governments, so all of them will have the same yield no matter who sells them. So if one country goes crazy into debt, everyone in the Eurozone has to pay that country’s debt. Yeah, I’m sure that’ll go over great with the frugal states. They’ll love it. It’s bond communism on a continental scale. Gross scary evil stuff.

Wow, talk about tragedy of the commons. That means Germany has to pick up all of Greece’s debt and spread pain throughout the rest of the Eurozone just because Greece decided to spend too much on welfare.

No sovereign European government is going to stand for this crap. Varoufakis is a crazy red Leninist nutcase. In a matter of days, Greece is out. Certainly the Germans see right though this Bolshevik insanity.

The contradictions of these people, it just blows my mind. Now someone on a video at The Guardian is defending him using this gem language:

“His point was related to events in 2010 when he was in favor of a Greek default within the Eurozone, but this was taken out of context in order to make it seem as if he was in favor of not paying the debt owed to Germany and giving Germany the finger.”

Do you see how these sophists use one technical term (default) to hoodwink you? A default means that you do not pay your debt. That’s the definition of the word. So how can he be in favor of a default but still be in favor of paying debt?

Let’s take the technical term out and rephrase this iron defense of Varoufakis:

His point was related to events in 2010 when he was in favor of a Greece not paying the debt within the Eurozone, but this was taken out of context in order to make it seem as if he was in favor of not paying the debt owed to Germany and giving Germany the finger.”

Contradiction. Is anyone alive out there? Can anyone hear me?

I’m on fire with movie quotes these days.

Grexit and the Supermoon Solar Eclipse – Any Meaning Here?

I don’t know. But it certainly is interesting. One of the posts on TheJewishLibertarian that keeps getting traffic week after week is that one I wrote about the four blood moons. In the middle of the those blood moons is the solar eclipse, happening on Friday night, Rosh Chodesh Nissan, 5775.

בניסן נגאלו ובניסן עתידין להיגאל.

I theorized that if we are to assume this means anything, which I never conceded and am not conceding now, then it could mean that Israeli reliance on the West, or the US, will end on that day. It could also mean that the beginning of the domino effect will begin on Friday, during the solar eclipse, that is actually a “supermoon” eclipse (I can’t believe I’m linking to Inforwars, I promise I don’t read or watch Alex Jones, he just showed up on the first page of “supermoon”) because the moon is so close to the Earth during this eclipse that it totally blocks out the sun, which is even rarer than a regular full solar eclipse. And it happening in the middle of 4 total lunar eclipses, I don’t know if that has ever happened before.

Anyway, a lot of headlines have been flying around in the last two days that are very indicative of a Grexit in the next few days. Today there was something about the IMF bitching about how “uncooperative” Greece is, and that the saints at the IMF have never had a more recalcitrant bailout client ever in their 70 year history.

Or actually, “the most unhelpful client ever“. There’s something especially twisted when the world’s largest ball of loot specifically dedicated to bailing out thieves who overspend their tax hordes calls their “clients” “unhelpful”. Be that as it may, it seems everyone’s really pissed off at Greece and they can’t take it anymore.

So just now Zerohedge comes out with this leak, that the ECB is busy calculating how to absorb a 95% loss on Greek bonds over the next few days.

I had an article over at CalvinAyre I wrote yesterday about this Swedish gambling company called Net Ent. It’s a good company, but has (or could have) its bank accounts in an island called Malta off the coast of Italy somewhere. Malta’s banking sector is 800% of its GDP, and the country is 5% exposed to Greek bonds in terms of its GDP. So to give an example of where this domino can spread, if Greek bonds lose 95% face value, that will trigger a bail in of Malta because doubtless its enormous banking sector holds those bonds. Companies like Net Ent, if they hold their accounts in Malta, will be fleeced.

That’s just one minor example.

It would be very fitting, very fitting indeed, and very satisfying personally, if it starts davka now. Let’s see what happens by Friday. Here’s another piece on it I wrote on SeekingAlpha.

While Bibi is building his coalition of jerks, the spark may indeed already be lit.

You may be right. I may be crazy. But it just may be a lunatic you’re looking for.

Or four of them and a superlunatic eclipse. Or maybe not.

 

Quick Thoughts on Election Results

I ended up not voting for anyone. Someone pledged money and then backed out, and I couldn’t bring myself to vote for Arabs. If something bad happened I didn’t want it on my conscience that I voted. There was an article, I think on Zerohedge, a few days ago about common statist arguments. One of them was “If you don’t vote, you have no right to complain.” The truth is exactly the opposite.

Ah, I found it. Here it is, originally on Liberty.me. Google really is an awesome search engine.

If you don’t vote, you have no right to complain”

This is exactly wrong. People who do not vote are the only people who have a right to complain. Those who vote for people who win elections are endorsing politicians and their minions who will engage in activities under color of law that would be punished as crimes if you or I did them. Those who vote for people who lose elections may not be vicariously responsible for the crimes of state agents in the same degree, but participating in the system helps to create the appearance of legitimacy for that which is inherently illegitimate.

I did not vote, therefore I have a right to complain. If you voted, you have no right to complain.

So anyway, God has his own plans, I don’t know what they are, so whatever I think is good and bad about these results is irrelevant. But for what it’s worth, here’s what makes me happy (relatively) and what makes me less happy, in my own superficial emotional responses to larger pictures that are not presented to my eye directly by the Creator of the Universe.

First, Bennett can go blank my blank. He’s dead, his party is dead, it’s back to Mafdal sectoral nonsense, he has no future, he’s gone, goodbye. (Wry smile by me.)

Second, Eli Yishai is out, he can also go blank my blank. He’s never coming back, he will disintegrate into obscurity, good bye, good riddance, now go do your speaking rounds because there’s nothing else anyone will hire you for. The biggest Hillul Hashem in the Knesset, in my opinion, for specifically religious Jews (Netanyahu is the biggest for Jews in general) is out. No more hearing about how the gay people caused massive fires in the Carmel and other lovely gems.

Third, Baruch Marzel, who would have been the magnet for the “all nationalist Jews are crazy” mantra, is also out. That will save many a Hillul Hashem for nationalist Jews down the line.

Fourth, Tzipi Livni is again relegated to a loss. She’s the new Shimon Peres and I hope she looks for yet another stupid party to crash after Likud, Kadima, Tnua, now Labor. Or Zionists, or whatever they want to call themselves.

Fifth, Lieberman is dead. He’ll be absorbed by something, and Yisrael Beiteinu is dead. That’s good.

As for what makes me relatively sadder for today at least, Netanyahu’s, I admit it, pretty impressive victory, my two conclusions are, really, there is nobody else who fits the bill of Prime Minister except Feiglin of course, but he’s on hiatus right now. Anyone else filling that seat is, admittedly, laughable.

Second, the only way he will ever stop leading the Israelis government is in the event of a global economic catastrophe that everybody blames him for. Otherwise, he’s going to be Prime Minister until he dies (not calling for any violence here), and he’s got really top notch longevity genes in his family. His father died at what, 102 or something like that?

Yup, 102. Google gets it again. So it’s either economic catastrophe, or King Bibi for another 36 years give or take.

Feiglin to Netanyahu: Please Let Me Go to Temple Mount On Day of My Son’s Wedding

This really seems like Bibi’s last chance to do Teshuva. It’s elections tomorrow. It’s also David Feiglin’s wedding tomorrow. Moshe wants to go up to Har Habayit with his son before he gets married. I dare say that if Netanyahu allows Moshe to go up, he will win the elections. If he refuses, he will lose badly. This is his very last chance to do something good. There won’t be another. I have a feeling that God will not allow another.

To: Mr. Benjamin Netanyahu

Prime Minister of Israel

With the grace of God, my son will be married tomorrow. That is, my son David who as you know was involved in a terrible car accident.

I have no words to describe how full my heart is with excitement and gratitude for this miracle we have been privileged to see, my son David going from the very brink of death to building a Jewish family.

Our disagreement regarding your policies surrounding the Temple Mount and its consequences for Jewish sovereignty in Jerusalem is well known. The executive decree you declared forbidding entrance specifically to all Knesset Members – the representatives of Jewish sovereignty – is outrageous and unacceptable to me. Nevertheless, I believed my discreet request to the police in this matter would be granted.

From the answer I received and the little time that remains, I came to the conclusion that I have no choice and therefore I am turning to you directly and publicly as a simple citizen to his Prime Minister.

I request and demand that you allow me to exercise my right to go up to the Temple Mount with my son on his wedding day, just as every other Israeli citizen has the right to do.

This is a once-in-a-lifetime event that I will not be able to make up for at some other time.

With most respect,

Moshe Feiglin

This is an epic watershed moment among the many that are happening right now in the world. We’re about to turn a corner, one way or the other.

Feiglin Letter