These are interesting days we live in. Greece is the turnip you can’t get blood out of. The International Monetary Fund wants to squeeze the turnip anyway. There might be a few shekels in that.
Meanwhile, rallies are taking place in Greece, some urging the Greeks to vote no to a horribly burdensome debt agreement with her creditors, others urging a yes vote.
The International Monetary Fund says Greece missed a $1.8 billion debt payment Tuesday, becoming the first developed country to default on a loan to the lending agency.
Eurozone finance chiefs refused to grant a last-minute extension of the bailout program Greece has relied on for five years, and the Greek government couldn’t come up with money on its own to pay the IMF. The IMF said its executive board would consider a Greek request to extend the loan.
Greek Prime Minister Alexis Tsipras has called a referendum Sunday in which Greek voters can decide whether to approve a deal proposed by the country’s creditors. A “No” vote would likely force Greece to stop using the euro currency.
The last country to miss an IMF loan payment was Zimbabwe in 2001.
There’s a good, easy to understand analysis of the banking oligarchy at Paul Craig Roberts. Mr. Roberts is fearful that the leaders of the Greek government will be assassinated by the West for their rebellion. All of this insanity we’ve been experiencing recently represent the death rattle of the Western economic system, according to Mr. Roberts.
Mr. Roberts also penned this article noting that nothing works in the turd world former USA anymore, while explaining what our problems are and how to solve them. He covers TPP, which has abrogated all rule of law in the US and is an act of treason. It’s an excellent read.