Greece to probe US banks as global protests spread - RT VIDEO - 18 May, 2010, 04:37

SOURCE: Russia Today (Tomorrow in this case) :-)

With people the world rising up and striking over economic concerns, Greece has threatened to investigate the role US investment banks
played in its debt crisis.

Economist Mike Norman believes the banks are indeed the root cause for the economic crisis and that the Greeks should be absolved of any
responsibility.



We’ve seen a pattern of behavior on the part of investment banks, some of the big names like Goldman, who were actually very active in
repackaging Greek debt and actually hiding that debt, and then using
credit default swaps to bet against that,"
said Norman.





The problem in Europe, according to Norman, is directly connected to the euro.

"All the nations who have embraced the euro have
given up currency sovereignty, they no longer issues their own
currencies and they are under these very strict arbitrary fiscal
constraints. They can’t allow their deficits to go above a certain
amount and you know, running deficits is normal in times of economic
recession or even depression,"
said Norman.

As protests across the globe begin to evolve from financial complaints
into social unrest rooted in the divide between the urban elite and the
rural poor, Norman thinks the world should be prepared for revolution.

"We see trillions and trillions of dollars being raised to bailout
banks and speculators at the expense of working people who now have to
suffer wage cut backs, loss of income, loss of jobs, loss of services
and even higher taxes and it’s manifesting in these demonstrations and
protests in the streets. I for one am rooting for the Greek protestors,”
Norman said.

Views: 81

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

Comment by 7R33SandR0P3S on May 17, 2010 at 11:33pm
Economic crisis spreads unrest globallyPublished 18 May, 2010,

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega posted blog posts
23 hours ago
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea I was wrong Emperor Penguins are big and powerful but still alive but this,  A size…"
yesterday
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"Cheeki kea here's another that they say there have been modern sightings of!  The name of…"
yesterday
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea, did you ever hear of the giant Imperial Penguins? They were about 6 feet tall and could…"
yesterday
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea I do not think these giant two legged birds would need to have a bad attitude as long as…"
yesterday
Olivia Brooks updated their profile
yesterday
John Miller was featured
yesterday
tjdavis's 2 blog posts were featured
yesterday
Zfort Group's blog post was featured
yesterday
Doc Vega's 6 blog posts were featured
yesterday
Burbia commented on tjdavis's video
Thumbnail

“What’s His Motive?” - Inside The Mind of George Soros

"Trump calls for George Soros and son to face federal…"
yesterday
Burbia commented on tjdavis's photo
yesterday
Profile IconSeeta Sathe and Olivia Brooks joined 12160 Social Network
yesterday
tjdavis posted a video

Mossad, Terrifying CIA Technology, Blackwater & The Most Secret CIA Unit | John Kiriakou

John Kiriakou served 15 years in the CIA as a Case Officer (Spy) and as CIA's Head of Counterterrorism Operations in Pakistan where he lead the raid that cap...
Monday
tjdavis posted a photo
Monday
tjdavis posted a video

A Critique of the Tavistock Institute - The Mother Of All Conspiracy Theories

An examination of the Tavistock Institute, a theory which seeks to explain how Western societies have been brainwashed by a cabal of social scientists and th...
Sunday
tjdavis posted a video

“What’s His Motive?” - Inside The Mind of George Soros

In this short clip, Patrick Bet-David, Sebastian Gorka Adam Sosnick, and Tom Ellsworth George Soros and what motivates him to do the things he does. FaceTime...
Aug 27
Doc Vega posted blog posts
Aug 27
cheeki kea favorited Bob of the Family Renner's photo
Aug 26
cheeki kea commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"If you're ever out there Doc V and notice giant two legged birds roaming the wilderness be…"
Aug 26

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted