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Greece, that is.

So say the talking heads on the TeeVee.

That's a lie.

First, the IMF has issued alleged loans to Greece.  Second, the United States is the largest funding source for the IMF.

In other words the United States most-certainly has a stake in the Greek situation as we are in fact part and parcel of the bogus "projections" that the IMF has used to justify previous bailouts.

But now, with the IMF doing a bit of truth-telling, there is nothing that can be done as the IMF is prohibited from participating in "lending" when it does not find that the debt burden of the borrower is sustainable.

The IMF has now found that the debt burden that Greece has is not sustainable and it is therefore barred from further participation.

Both the IMF and the EU "institutions" participated in a gigantic rip-off of the entire EU population by transferring the Greek debt held by private banks onto the balance sheet of the ECB and IMF, institutions that (allegedly) have recourse against the citizens of the European Union (and in the case of the IMF, the United States.)

I argue this was a criminal act of theft by conversion, exactly as were the acts taken by The Fed and Federal Government during the 2008-2009 timeframe in the United States.

As such I also argue that the people of the EU have no obligation to pay any levy occasioned by the ECB's folly, nor to fund one penny of said Greek "bailout."

When does it stop?

Never, until you demand that it does -- although the IMF has certainly raised a lot of hell with the release of their formerly-"secret" study....

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See, I told you so....

Scientists warn that the Earth is just 15 years away from experiencing a "mini ice age" — something that hasn't happened in 300 years. 

Researchers in the U.K. created a new model of the Sun's solar cycles that allows them to make extremely accurate predictions of changes in solar activity like never before.

We'll see.

If they're right, however, the result is likely to be famine and death on a massive scale.

Warmer temperatures hasten growth.  Not only that so does increased atmospheric CO2 as that's what plants use as their biological fuel.

Cooler temperatures shorten growing seasons, decrease yields, and in many cases (e.g. unexpected freezes) kill crops outright.

We have an increasingly-fragile food supply on a global scale.  While this event, if it occurs, is unlikely to cause famine and hunger in the United States the same cannot be said for the rest of the world.

A one-year event would not be catastrophic.  But one that lasts for a decade or more, which is likely, would utterly decimate the developing world's population, likely killing 100 million or more through the third world.

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I've not seen the fine details, but from the reporting thus far I can form an opinion -- which I reserve the right to change if the facts known in the alleged deal change.

First, in broad terms any nation has the right to pursue nuclear energy.  However, and this is important, pursuit of Uranium-Plutonium fuel cycle development is inherently dual-use, as I've noted before.

It's even worse if there are any heavy-water reactors in the nation in question, and in Iran's case there are, because those reactors have a fuel cycle that can be better tuned to produce Plutonium on a "short" fuel cycle.  This is important because the production of Plutonium by itself is not the problem, it is the isotopic balance of said Plutonium that is trouble, and the longer the fuel remains in the reactor the less-favorable the balance is for weapons use.

The counterbalance to this argument by Iran (and any other nation) is that the exact same short-cycle produces a lot of other useful isotopes that have no weapons application at all (e.g. medical and research isotopes.)  This is true but whether that changes things is a political (and not physics-related) question.

If you only want power from the atom in civilian (not ship-borne) applications then the Thorium fuel cycle is one that is very proliferation-resistant, has the ability to run in these applications without having to be located on very large bodies of water, and has inherent safety advantages.

However, if your use case includes naval propulsion then you're building a small-core uranium or plutonium based PWR, and that's all there is to it -- and once you have that you need the infrastructure to support it.  Back we are to dual use, even if not for weapons.

My base position on nuclear power is quite simple: If you have a uranium-plutonium fuel cycle program there is no effective means to prevent the state with one from developing a bomb.  I didn't say "big bomb", I didn't say "efficient bomb", I simply said "bomb", because making something that will go "boom" with that as the precursor is quite simple.  Indeed, if naval propulsion is part of the equation then the material necessary to make said bomb is already going to be in your inventory.

So how about "verification"?

That's simple too: There is no means of verification that is "solid" enough to be effective against a determined adversary.

Therefore, my view on this so far is this: Iran will have a bomb if they don't have one already -- and they probably do.

More as I learn more, if there's any reason for me to update my view this alleged "deal."

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If there was ever a reason for the Greeks to start issuing indictments, prosecuting and then hanging people, this ought to be plenty of justification -- especially considering that the IMF is one of the original Troika and thus, if anything, has a reason to lie:

"The dramatic deterioration in debt sustainability points to the need for debt relief on a scale that would need to go well beyond what has been under consideration to date - and what has been proposed by the ESM," the IMF said, referring to the European Stability Mechanism bailout fund.

European countries would have to give Greece a 30-year grace period on servicing all its European debt, including new loans, and a very dramatic maturity extension, or else make explicit annual fiscal transfers to the Greek budget or accept "deep upfront haircuts" on their loans to Athens, the report said.

Since the EU and ECB -cough- Germany has no intention of doing any such thing this entire process is now exposed as a sham, exactly as I have maintained since it started roughly five years ago.

There are whispered reports that the ECB and EU have airplane loads of people on the ground right now at Greek banks.  It is my contention that they intend to raid the Greek banks the instant that Parliament passes the enabling legislation and once that happens there will be no peaceful means available for the Greek people to put a stop to or reverse it.

This must be stopped, but it's rather obvious that it won't be -- it is clear that Germany has effectively declared war on the sovereign Greek nation.

We are seeing that which was old become new; economic warfare, aimed at the population of a nation and intended to impoverish and render them destitute, effective slaves to what amounts to financial occupation, is nothing new at all.  It has often led to armed conflict and indeed is one of the more-reliable ways to eventually provoke the start of shooting.

What was the American Revolution if not the Colonists saying no damnit to the Crown's effective financial invasion of their affairs?  What was WWII if not the German people's revolt against the "conditions" that were imposed after WWI and the ruinous economic collapse that followed?  What was Pearl Harbor if not an attack in response to financial and trade sanctions against Japan by the United States, culminating in an oil embargo intended to suffocate the nation's economy?

The uncomfortable question becomes this: After Cyprus and now Greece, who stops the Germans this time, when, and by what means?

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Now the screws really are being turned.

It is reported that demands from the Troika now include:

  • Direct veto authority over the government's budget and spending programs.

    AND

  • €50 billion worth of "assets" deposited in Luxembourg to be held as "available for sale" without further act of the Greek Parliament should the Troika not get whatever they want both now and in the future.

I remind everyone that there is no possible way that lending the Greeks another €100 billion, which is now what the estimates are up to, will ever lead to the ability to pay any of that off.  As a result depositing one nickel outside of the nation means they have given it away -- period, full stop.

Tsipras and the Greek Government cannot accede to these demands.  If they do the people of the nation have every right to consider the government illegitimate and beyond salvation, doing whatever becomes necessary next (and it won't be pretty.)

It's quite clear that from 2010 forward, with the first bailout, there was never any ability to clear the books and return to a reasonably-stable situation economically in this country through taking on those loans.  It's also quite clear that all the way back to Greece's entry into the Euro there was active complicity and involvement in outright fraudulent accounting undertaken by and with many international banks -- and then the banks that "bought" that debt agitated in the first bailout for transfer of the paper to the central bank and thus onto the backs of the EU's citizens, a second fraudulent act since there was no way for it to be paid off in full and thus that transfer was the fruit of a poison tree.

The people involved in this need to be indicted and the banks involved in this must have their charters revoked and be shuttered irrevocably with their officers and directors spending the rest of their life worrying about dropping soap in the shower.

It won't happen because the people both here in the United States and there in Europe are too pussified to make it happen.  We instead have sat for and continue to allow literal trillions (whether you want to count them in Euros or Dollars) of theft from all of us to prop up the fraudulent schemes of 0.1% of the population while our forward economic prospects have been grievously and permanently harmed.

As I have repeatedly pointed out over the last 8 years the longer you play games via fraudulent schemes when the underlying reality is an exponentially-growing function the worse the problem gets and it is not linearly more-difficult: It becomes geometrically so with each passing day.

We can either face arithmetic or it will "face" us -- in the face, that is.

smiley

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