Greek Drama – Open Thread

by | Jul 7, 2015 | Articles | 31 comments

greekdramaby James Corbett
July 7, 2015

There is a drama of epic proportions unfolding in Greece right now. It’s surely not a comedy, but will it end in tragedy? Stay tuned.

The story so far:

The Greek people defied the majority of the world’s expectations on Sunday by voting “no” to the Eurozone’s bailout proposals. What does this mean? No one knows yet, and don’t believe anyone who tells you otherwise. The word on the street is that the options on the negotiating table at this point are:

a) Back to square one looking for a new bailout deal with bigger and better structural reforms than ever before!

b) The Greek government could start a “parallel currency” by issuing either promissory notes to key creditors or a kind of ‘lesser euro’ within the Eurozone itself.

c) Greece could officially declare bankruptcy and be ejected from the Euro.

The first option is just plain silly; the very inability to hammer out such a deal is precisely why we’re here, after all.

The second option would open a Pandora’s box of unanswered questions that could very well dismantle the Eurozone from the inside out as other economically challenged, bailout-prone “peripheral” countries try to get in on the promissory note act.

That pretty much leaves option three, right? Well, not if the Greeks have their way. Just last week the Greek government threatened to take the Eurozone to court if they tried to force a Grexit, so suddenly option three isn’t looking like such a foregone conclusion.

And let’s not forget that all three of those options are only rumors anyway.

greece_woma_3366167bWhat we do know: Soros-promoting Syriza Finance Minister, Yanis Varoufakis—he of a questionable history—just resigned and is being replaced by Oxford-educated Euclid Tsakalotos. The Greek banks are going to remain closed until at least Wednesday, and ATM withdrawal limits of 60 euros a day might have to be tightened as the central bank starts to run out of physical cash. No one but no one is so much as peeping a breath about the parliamentary report on illegal, illegitimate, odious debt as a starting point for negotiations.

So here we are. Tragedy? Farce? Bleak tale with a light at the end of the tunnel? It’s too early to know. But get your popcorn ready, because no matter how it plays out, this tale is one that will be well worth watching.


  1. Hey guys, I know the Greek drama is very much a moving target at the moment, so I’d appreciate your help in keeping these comments up to date with links and analyses while I’m away. Conversely if you think the Greek story is just a distraction, let us know what you think we’re being distracted from.

    • We are being distracted by the China Meltdown the bubble bursting on the Chinese Economy, What happens when they come to collect their money from trading partners? Stay tuned for the real drama. That is where the fireworks will be starting.

      • Thank you for posting that letter. As included in its step 3, I believe a source of Free Energy is totally key to any positive change. Utopian vision true, but you do get what you really want.

  2. I have nothing to say, other than forwarding this message I just saw today.

    Greece, just a thought to wipe out your national debt
    by Walter Burien – CAFR1

    Greece has been in the news for the last several months per defaulting on their National Debt which is about 200 Billion Dollars in total.

    Here’s a thought; Well, the large institutional traders (primarily banks) have been using the Greece scenario as an excuse to manipulate the world Stock Index and Interest Rate Markets.

    Over the last 20-days they have easily generated value ten-times the total Greek National Debt utilizing Greece’s name and circumstances to do so.

    Here is a 30-year US Bond chart showing 1-week you can expand to show 2-months and here is a DOW chart. You will notice over the last 20-days big gaps up and down.

    Well, for several of those gaps, the institutional accounts utilized the name of Greece as the excuse to manipulate and roll the markets. In doing so they generated tens of billions of profits on each occasion. Now in consideration of the world markets in total, these institutional accounts easily pulled off as mentioned earlier at least ten-times the entire Greek National Debt in doing so.

    So, my message to the people of Greece is: Maybe you should investigate and confirm what institutional accounts were moving in tandem utilizing your country’s name, Greece, and manipulating your circumstance for their own profit, and then you could go to the World Court with that evidence to get a seizure and confiscation court order whereby each has a proportional amount of equity seized / forfeited from the profits they made using your name and then your National Debt is gone. Gone in one move and at one stroke of the pen.

    Now Greece, don’t feel guilty if you do this. Just remember a “proportional” seizure from each of these manipulating institutional accounts would only amount to 10% or less of the profits they made utilizing your name and circumstances.

    They in turn will keep 90% of the wealth the stole from everyone else and your National Debt will be gone. Back to life as usual in Greece. Sounds like a winner to me.. Just a thought if you cared to make it happen.

    Would make a nice precedence with the World Court for justice don’t you think?

    Please forward this to every person you know who is in Greece or is Greek and ask them to do the same.

    Communicated to you and truly Yours,

    Walter J. Burien, Jr. CTA (Commodity Trading Adviser) 1978 – 1992
    P. O. Box 2112
    Saint Johns, AZ 85936

    Home: (928) 458-5854 Arizona


    This Email is covered by the Electronic Communications Privacy Act, 18 U.S.C. Section #2510-2521 and is legally privileged. The information contained in this Email is intended only for use of the individual or entity named above. If the reader of this message is not the intended recipient, or the employee, or personally KNOWN TO THE RECIPIENT agent responsible to deliver it to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication, and you are not the intended recipient I sent to, notify me immediately or please be advised that if you do not notify me immediately, you shall be subject to fine, imprisonment, and civil sanctions.

    To update your information regarding getting email posts from Walter Burien – CAFR1, please use the following link:

    • I’m not holding my breath. I just thought the CAFR king deserves to be heard and remembered.

      Also in FYI department…

      PS Greg Palast reminds us that the Germans work much fewer hours than anybody in the EU (who have jobs)

  3. I have been enjoying the alternative commentary from Ken at:

    He has been updating several times a day and provides interesting incite into this Greek drama that the MSM doesn’t cover. In particular, the conflict of interest of the Executive Director of the IMF, Paulo Nogueira Batista, being recently made Vice President of the BRICS alliance. As the 2D chess board dictates, these are competitive bodies, but as we know from the 3D chess board, they are working together to transition from the old financial order of the West, to the new financial order of the East (but ultimately globally).

    The fact that Tsipras went to meet with the BRICS guys in June (it was only mentioned in the MSM as him visiting Gazprom), such an obvious conflict of interest should have been made much more of by the MSM, but then we know why this wasn’t. Anyway, an outlet that did report on it was:

    I found Redefining God from a reference James made on his ‘How to Fake an Alien Invasion’ video.

    Sorry if you have already covered this James.

  4. With no real solution even possible, it appears that the end is here as the gargantuan global debt bubble has topped out. World central banks have fostered, created, and allowed to manifest a malignant threat to every human being on this planet by inflating a financial debt bubble which is the greatest threat to human life bar none. The debt obligations of not just Greece, but every developed nation on the planet can never be paid back nor can the debt be “forgiven.” The entire malignant system demands that ever increasing amounts of debt constantly be borrowed into existence in larger and greater amounts. Without the ability to continually borrow, you have a crisis like we are witnessing in Greece right now. The issue here is contagion. With the root cause of the problem being debt, and the perpetual demanding of more debt which must be added to fuel the monster, world central banks are powerless to stop a global catastrophe. The world is now staring into an economic abyss unlike anything ever seen in history, and a global economic meltdown truly epic in scale. Please check out this video by Greg Mannarino.

  5. @archives2001,
    Thanks for posting the link for that video. I think it’s the best of it’s kind I’ve watched. Let’s just hope enough people have become roused from their slumber that we can see about reining in some of the false narratives that allow history to continue to repeat itself. We don’t have any control of when and what fashion the rug gets pulled out from under our feet but it is within our control to be mindful and act prudently in the way we respond to crisis.

  6. This morning I watched Naomi Klein’s documentary The Shock Doctrine. I’ve watched it a couple of years ago, but the Greek tragedy and other recent developments made me want to watch it again. It is just striking to see how the politics of crisis, real or perceived, is used time and time again. How the public is constantly being led from one shock to another and is left completely confused. How the public accepts increasingly absurd regulations, with even more absurd justifications.

    I believe this Greek tragedy is an orchestrated crisis, designed as a stepping stone or a test case for the introduction of the Global Shock.

  7. Creditors to Tsipras: “There is no point in holding elections” in bailed out countries:

    Also interesting is that this article also explains the reason why German finance minister Schauble said that the markets will force the eurozone into a political union. Well, the NWO seems to be out in full force with regard to the Greek crisis, don’t they?

  8. Mr. Corbett has been unusually quite these last couple of weeks, anyone know why?

  9. Thank you to everyone who has been contributing to this lively and active discussion. I am back home in Japan now and will be posting new material again shortly. Thanks for your patience during my holiday.

    • Welcome back James. Good to hear from you and hope all is well =]

      I tried posting a message earlier today, regarding an article Ahmed Nafeez published at his website where he was trying to prop up his defense of his recent Bin Laden raid story by citing an article you wrote in 2011, apparently taking issue with your phrasing that there was pretty much an “informed consensus” that Bin Laden was likely long dead by the time of the raid. I’m posting this message without the links or the comment I posted at BFP (where someone informed me of the matter) because I’m thinking maybe that’s why the comments (I tried twice) didn’t show up. Perhaps they’re pending (although I didn’t see anything of the sort). Let me know if you want me to try to post the info again. For now, I’ll just see if this actually posts… Okay, good it worked. I’ll try posting another message with the links.

        • The reply I posted at BFP in response to another member who brought the article to my attention. They said Nafeez appears to have closed the comments. The first two seemed like people were taking a crack at his faulty logic. Anyway, here’s my two cents (it might look a little harsh at first glance, but if you look at Nafeez’s article you ought to be able to understand why I’m annoyed)

          What a douche bag. It seems like he’s trying to cover his ass for catching flack over relying on similar logic to Hersh on the Bin Laden raid by picking at something James said, as if James was implying that an “informed consensus” means that Nafeez’s account falls outside of that ‘consensus’, but James said this way before Nafeez posted his article. Nafeez’s article is well cited and thorough, but only in a way which is marginally better than Hersh’s story. It’s as if he’s saying that, because he has more accounts documenting alleged deaths and/or accounts stating that Bin Laden was actually still was alive that this means that it’s more probable that Bin Laden was still alive when the raid happened. I don’t think think any of the accounts are of much value, but if Nafeez wants props for doing the legwork chasing after bullshit leads, by all means, give him a round of applause and an ‘A’ for effort. James cites less sources in the article Nafeez was criticizing, but he focuses mainly on Bin Laden’s declining health and puts that in the context of the videos that document this followed by subsequent videos where Bin Laden appears to look younger and healthier (it must’ve been the “Just For Men”). James doesn’t try to state when Bin Laden actually died, just that it seems more than likely that, at the bare minimum, the idea that he was still alive by the time the raid happened seems pretty far fetched.

          I particularly appreciate the fact that James avoids getting into petty squabbles with other figures in the alt-media. Perhaps he’s commented on Nafeez’s work at some point, but I highly doubt it. What a coward… His Bin Laden story stunk, but instead of making a cautious effort to clear the air, he just walked out of the bathroom with toilet paper stuck to his shoe.

          James, sorry to flood your inbox (so to speak) with something of this nature, but I feel you ought and other members here ought to be brought up to speed if you weren’t already aware of it. Also, sorry for the language, usually I don’t go there, but that was my immediate reaction.

        • Oye… the last paragraph isn’t particularly clear. I’m referring to Nafeez as being a coward etc, not James. Okay, that’s more than enough from me…

        • @Chatte, thanks for the info. I guess my response was unnecessarily harsh. I didn’t realize that Nafeez was “responding” to your post (which is well presented by the way =), so it just seemed like he was citing James’ work, as if it was emblematic of what’s wrong with other accounts which are critical of his story, even though James never came out to challenge Nafeez’s story himself (at least not to my knowledge). It just seemed like a cheap shot and beyond that, as I indicated in my comment, I think he’s trying to prop up his account using the same sort of faulty logic that he’s criticizing James for. Essentially stating that, because there are so many different contradictory accounts, it’s not reasonable to say that one can make a claim conclusively, yet he’s saying that because he thinks he’s done “the most comprehensive, careful and properly documented account to date”, he’s in a position where he can put down other accounts such as James’ for not being as professional.

          In all fairness though, it appears Nafeez felt that he needed to defend his position, so I guess I can understand why he might have come off the way he did. Regardless, it seems like I overreacted in a way which was unnecessarily “tribalistic”, to use your phrasing, so I appreciate your feedback.

        • Yeah, that was me over at BFP, and my argument is that I do think Nafeez made some very reasonable points, in particular about how the Pakistani press might not be entirely disinterested in the matter of OBL’s death if in fact the ISI was hiding him. So the reports out of Pakistan about his death could be considered suspect on that basis: fair enough.

          But I have two problems, one general and one personal.

          1) Nafeez completely neglects to deal with the mysterious lack of signs of Bin Laden’s continued existence after December 2001. Absence of evidence may not be evidence of absence, but the fact that the CIA acknowledges that its communications intercepts ended then, and that’s when the totally fake videos started appearing, and that no convincingly real ones came out to compete with them, and that it’s completely ridiculous that we had no body and no evidence and lots of lies after the alleged assassination — these things can’t just be ignored in any serious account of the raid. Nafeez ignores them almost entirely, ergo his account can’t be considered completely serious.

          2) He utterly mischaracterizes James’ piece on the “9 Deaths”, making it sound like his use of the phrase “informed consensus” was an attempt to group disparate contradictory accounts into a coherent whole, when if you actually read it, it’s more than clear that James was specifically referring there to death-by-kidney-failure — moreover he shared Nafeez’s bemused skepticism over all the conflicting death reports. That’s kind of why he titled his piece the way he did — duh?! So Nafeez either didn’t read carefully, or he willfully misrepresented James’ argument, and either way there’s no excuse for that kind of behavior for anyone aspiring to be called a serious journalist. It’s shameful and petty behavior unbecoming a scholar. Nafeez absolutely owes James an apology.

          • Thanks for this. Yes, Ahmed has completely mischaracterized the piece. The explicit point of the article is contained in this passage, which Ahmed conveniently omits: “Some might charge that none of the previous reports had any credibility, but as it is now emerging that Osama’s body was buried at sea less than 12 hours after his death with no opportunity for any independent corroboration of his identity, the same question of credibility has to be leveled at this latest charge.”

            I was even more straightforward in my RT appearance on the subject ( “It is not my contention that Osama Bin Laden definitively has been dead for some time, but his death has been announced a number of times at any rate. I don’t see why we should take this pronouncement any more seriously than any of the previous pronouncements, especially considering the complete and utter lack of evidence that has so far been produced to show that Osama Bin Laden or anyone resembling that description was actually killed yesterday.”

            Ahmed’s treatment of my article is sloppy at best and a deliberate misrepresentation at worst.

        • Was that before or after Obama single-handedly strangled the Loch Ness Monster and then ejected it into space before telling anyone about it in accordance with lake monster burial etiquette?

        • Thanks again, John for doing a better job articulating more broadly some of the reasons why the nature of the way Nafeez’s citation of James’ article came off as misleading and slanderous to me (even if I overreacted).

          … Now, for the last time: Bin Laden was captured with a stash of bootleg DVDs of “Dancing with the Stars”, then fed to a lion. This has been been verified by several anonymous top ranking intelligence officials. =p

  10. Apologies, nosoapradio. I just found this comment in the spam folder for some reason. It’s approved now.

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