by Constantine Tokmakides, Professor of the University of Thessaloniki
You’ve lent 100 Euros to someone whose salary is a 100 Euros and 500 Euros to someone whose salary is 1000 Euros. The former owes you 100% of his salary, whereas the latter owes 50% of his salary. By what rationale would you pursue the former who cannot pay his debt and leave the latter who CAN pay his debt? Why would you try to get the 100 Euros back and not the 500 Euros back?
This is exactly what is going on with the IMF.
I looked up the list of all the debt of all the world’s countries online. Some examples…
Germany with a deficit of 5 trillion owes 155% of GDP.
France again with a deficit of 5 trillion owes 188% of GDP.
The USA with a 13 trillion deficit owes 94% of its GDP.
So it’s obvious that what’s important is not the size of the debt but rather its percentage of Gross Domestic Product.
Having taken a few looks at the table a few questions arise:
How is it that although Luxemburg, the UK, Switzerland, Belgium, France, Denmark and Austria all have a GREATER proportion of debt than Greece, these countries DO NOT need saving, but on the contrary step in to save Greece?
How can Afghanistan after nearly half a century of continuous war only be 23% of GDP in debt, when we know just a few days of war can “blow up” a country’s economy.
Question 3. How can Kuwait owe 29% , Bahrain 54% and the UAE 56% at the very moment when they are global oil suppliers?
Question 4. How comes that in Switzerland with 271% debt, a simple hospital cleaner (in around the year 200) could earn around 2000 Euro a month an exact equal amount to the wage earned at the same time by a “high-earning” technician, with a much higher level of education, considered heavy duty and unhealthy work, in dirty coal run electricity plants of Greece, with 25 years of experience?
Question 5. How comes that Norway with 143% debt doesn’t have a problem and doesn’t need to be saved or endure austerity measures?
A real example from there: “An acquaintance of mine moved to Norway two years ago. Now, look at what happened to him there:
a) He got a job in a restaurant kitchen as an unskilled worked and got a salary of 2,500 Euro!
b) After three months at work he said he was “mentally exhausted” and immediately got 15 days leave!
c) Using his tax returns (something like the gratis salary we get) he went on holiday to Tibet with his wife.
d) Now he is unemployed, (using the excuse that HE DID NOT LIKE where he was working) and for two years he can get 1700 Euros a month.
Question 6: Why aren’t the global lenders worried that they might lose the 13.5 trillion owed by the USA or the 2 trillion owed by Luxemburg, the 9 trillion owed by the UK (etc, etc) but are worried about the 500 billion that Greece owes?
Question 7. How is it possible that the whole population of the earth owes 98% of its money?
Question 8: Who has enough money so that they can “withstand” lending so much money?
Question 9. Where did they find all that money?
Question 10. Why is their money not included in their country’s GDP?
Ultimately, don’t these figures just show that the global economy is nothing but a huge bubble, while money is fake, printed in the depths of the multinational banks simply to achieve global control?