I was preparing for a radio interview about the Greek Financial Crisis, and I discovered how the financial matrix and its allies in the global banking system in partnership with local governments have been in action in several countries, and above all Greece, which is facing its worse financial crisis.
Bestselling author and leadership expert Orrin Woodward shaped the conceptual framework of the financial matrix acting against the people, governments, and countries to ensure a web of debt and stress for these countries, and profits and control for the banks and the elite.
The Greek case helps me better understand the financial matrix at a closer level.
I don’t need to go far into history to describe Greece as the knowledge well of the western civilization. A great civilization which has been collapsed under its own weight and the Five Laws of Decline studied by Orrin Woodward in his outstanding bestselling book And Justice for All.
Recently, in 2010, after the great recession, a combination of international and local factors led the Greek economy to its most-severe crisis.
This situation goes back to 2001 when numerous banks concluded secret- financial deals with Greece to facilitate its entrance in the European Union Monetary System.
Big banks, such as Goldman Sachs, JPMorgan Chase, supplied cash in advance in exchange for future payments by the Greek government disguised as “swaps” and consequently did not get registered as debt.
That deal, hidden from public view, was treated as a currency trade rather than a loan. It enabled politicians to mask additional borrowing in Greece with liabilities then left off the books. The very same corrupt practices scheme which toppled Enron.
[Greece paid Goldman Sachs] about $300 million in fees for arranging the 2001 transaction, and traded away the rights to airport fees and lottery proceeds in years to come, reported the New York Times quoting several bankers familiar with the deal.
These conditions had enabled the Greek government to spend beyond its means, while meeting the deficit targets of the European Union.
Goldman Sachs have colluded with past Greek governments to reduce the appearance of more than $ 1 billion Greece’s debt for short-term gain, while in reality making it worse than ever.
Arlene McCarthy, vice-president of the European parliament’s economic and monetary affairs committee stated: “These deals have increased costs for Greek taxpayers and left a mess behind for Greece’s citizens and the eurozone.”
In May 2010, the Greek government deficit was estimated to hit 120% of GDP. As a consequence, there was a crisis in international confidence in Greece’s ability to repay its sovereign debt. To avert such a default, in May 2010 the other Eurozone countries, and the IMF, agreed to a rescue package which involved giving Greece an immediate $ 50 billion in loans, with more funds to follow, totaling $ 125 billion.
To secure the funding, Greece was required to adopt harsh austerity measures to bring its deficit under control. These measures are as followed: reduce pension payments, increase pension contributions, end early retirement and raise retirement age, privatization etc… (for more specifics on the measures being negotiated with the international creditors click on this link )
This is The Financial Matrix. We know it when we see it. It finds its terrain with the avarice, greed of the elite and its legal banking system, the neglect of the middle class and its allies in the government and the ignorance of the masses.
I am glad to be part of the Life Leadership Compensated Community which is building new forces to break free from the matrix through self-directed leadership education, personal responsibility, civic engagement to keep our governments accountable, and to keep us from the plunder of the elites and its banking system.