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What is Odious Debt? How Do We Wipe it Out?
People Power in Ecuador worked. Why not here in USA?
by Tom Valentine
The facts put forth in this Debt-O-cracy video can have earthquake type effects on the bleeping world banksters.
Most Americans wont take the time and effort to watch, and read the English subtitles, long enough to get the education that is here. (what’s new with that)? So I will try my best to explain it.
The concept of “Odious Debt is clearly explained, (at the 34-minute mark till the 40 minute mark on the tape.) It’s a phrase The global banksters fear so much, that when the Neocon Bush bunch used it to rid the conquering US of any liability for the billions of debts that Saddam Hussein allegedly owed to these crooks, our own government of puppets, crooks and whore media furiously covered up the truth as instructed. It’s all on this documentary video (at bottom of page) put out by International citizens who want to rid our world of the debt game, once and for all.
The video also shows what angry people can do when they get a united will to do so. Examples are documented in Argentina and especially Equador, which was not played up in the media so we did not know what really happened. “March on Rafael Correa”
Watching this one hour, fourteen minute documentary was sheer pleasure for me. I cheered out loud when the angry green party politician called his EU peers hypocrites for selling billions of dollars worth of ships planes, and armaments to Greece for top dollar, to keep the factories running in Germany while destroying Greece.
Of course, the Greek politicians and privileged elites sold out their own people, and this is why a citizens commission route must be used. The video calls out Goldman Sachs for outrageous crimes, and we get to see documentation for how they operated internationally, criminally, in the name of US taxpayers.
We all have work to do. Cleaning up will be long and hard; but revolution of the kind they pulled in 1776 will only play into their hands. We need to be smarter about this.
An “audit of the Fed” is likely only part of a smokescreen. We can demand a select commission be named, publicly, that puts the International Finance Under a glaring spotlight, ,just as was done in Equador, and may soon happen in Greece because the people are that pissed off!
By openly forcing our government to publicly name such a commission—members we publicly name, which we can do with the Internet and some huge marches on Washington and at pro sports games , etc.
We, the people, must remain persistent. They will blackout the media at first, but there are more than enough pissed off Americans to pull this demonstration game off.
Egyptians did it, so did the Tunisians; however we need to discern which of these “Arab Spring” uprisings are genuine against the phony-debt bastards and which were spawned by our own myrmidon agencies, which are run by the IMFers (Immoral motherbleepers).
Watch the Spaniards, the Irish, The Portuguese, and Icelanders; I think they get it.
Short URL: http://www.veteranstoday.com/?p=117166
Posted by Tom Valentine on Jun 23 2011, With 0 Reads, Filed under Economy, Editors Picks, Investing & Finance. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.
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Great video. Thank you. I missed where “Odious Debt” is legally defined and recognized by an international body. The money masters’ formula might be simplified by three steps: 1-Create fiat money. 2-Get it legitimized. 3-Exchange it with real wealth. Real wealth is land, assets (manufacturing, hi-tech corporations, ..), rights (underground resources, patents, ..), etc. I have also wondered if the “Debt Camps” (countries or regions in debt) can some how come up with an idea to create the same or similar fiat money and pay the debts, while switching and using their own real money. That way we let the criminals in suits taste their own medicine.
Hey! I’m glad to see someone bringing light to this hugely important issue [Odious debt]. Thank you, Tom!
We don’t owe these Banksters a gawddamn dime…and it’s time we sent them a very clear message to that affect. The entire infrastructure of the financial sector needs to be nationalized…and the Banksters, and their puppets, must be hunted down and destroyed! Corporations must lose their status as individuals, too.
@ jack: I think I might agree with you…but I’m not sure.
Excellent article and movie. Time for the citizens to do some auditing of their own, to include the Fed, MIC, congress, world bank, EU to name but a few.
Correct, Thomas, a commission named by us, would deal with all the odors. I’m old and practically crippled but I will carry a hangman’s noose on the mall in DC with the rest of you.The video explains odious debt thoroughly. move the timing line up to 31 or so minutes and invest a few more minutes to get it all. The 1898 taking of Cuba is fascinating history; Rothschilds took the entire hit, I bet. History classes omit any mentions,
why am I not surprised?
Howdy folks Max Keiser has it right, see video: http://maxkeiser.com/ on Greece debt up Friday; also,good stuff on “scum” at Goldman Sachs on another vide I saw on the french connection site Friday.
The Central Banking system owns all our increates in GDP by virtue to creating money from nothing to equal it.To add insult to injury ,they loan what is really ours back as debt.Notice how inflation and GDP are almost the same? To keep enough money in the economy inflation is necessary since the banksters are busy stealing our productivty via stealth.This inflationary money is really counterfeiting.
Solution? End the US Federal Reserve and the Central Euro Banks.Only sovereign Govts should have the power to create money which equals our increases in productivity.
This excess money from these central banksters has only gone into worthless derivatives.They have actually destroyed real productvity and creativity.
It’s obvious you’ve got it all figured out. Tell me Ross, what are the ways the central bank actually creates money?
“Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create deposits.” – Sir Josiah Stamp, Director of the Bank of England, 1922
With a flick of the pen, Rick…with a flick of the pen!
Rick,You obiviously have not studied history or economics.It is the fractional reserve system of banking that enables this rort.Banks are allowed to create 9 times the amount of money they have in deposits as loans or debt to individuals or Companies.The small banks don’t have enough deposits,so they have to borrow from central banks who just create it in their computers.At the height of the sub-prime mortage debacle,investment banks were leveraged at 33:1.
The banksters with their stolen capital created exotic worthless derivatives which in effect destroyed real productivity and gave China/India the upper hand.
When the derivative market collapses and the World bails out of US $,there will be hyper-inflation and rising unemployment known as stagflation.Follow the Depression of the 1930′s,we are repeating history.
Banks are the least productive institutions on the planet but have most of the power.
The Central Bank trades money for assets in the form of loans made that will eventually default for the most part because only enough money is printed for the loan. The extra money to pay the interest on that loan is never printed. The system is designed for periodic reaping of rewards that rightfully belong to those who produced the rewards.
Rick, dont pick on Ross, at least he knows something is really bleeped up with central banking scams; most Americans still have no clue. What we have now is a thorough understanding of the scams. Another thing I just learned, is the only way back is to inflate by paying better wages; wages go up, yes it is inflationary, but everything else is driven upwards too; banksters hollar because they and corporate crooks depend on driving wages down. Dont ask “Where the money comes from for higher wages? where does it come from now?
Tom; The Banksters have destroyed the West via their greed and power lust.They have taken for decades the soul of our productivity and made us their debt slaves.Now it is coming back to bite them via their own arrogance and depravity.They are stalked by growing awareness by the people whom they’ve shafted and China/Russia/India who can also smell their decaying carcass.
The articles’ question is; – What is an odious debt? How do we wipe it out?
Please read this below link and get the answer:
http://www.zerohedge.com/print/365866
Not sure if the Greeks will get away with invoking the concept of “odious debt”.
I think we can expect tanks on the streets of Athens on Monday morning if they tried to pull that one!
Mind you the tanks will probably be there just in case anyway.
Look at the USA’s debt after the bailouts when Nancy Pelosi stated she received 85,000 calls from people against the bailouts. Now the unconstitutional wars and spending on foreign aid against the will of the people. How about CA voting to stop giving tax payer funded benefits to illegal aliens and the FEDS forcing them to.
All of it is odious debt. Most of the debt is now held by the federal reserve bank. We need to stand up and fight against the debt enslavement strapped on us by the politically connected that are truly ruling this nation and impeach Obama and most of congress and remove the czars from power. Then roll the congressional retirement fund into the empty social security trust fund. The congress voted the retirement for themselves and kept it funded while stealing the contents of SS fund. Eliminate congressional retirement and allow people out of SS and allow insurance companies to compete with medicare and people to chose what they want it will save money, improve service and lower the debt.
The creation of the federal reserve bank and the magnification of the power of congress is the root of the entire mess. If congress could not create sweet deals for their cronies there would be no lobbyists. Until we return the federal government to its Constitutionally limited role the politically connected will continue to ruin our country and destroy our freedoms.
Anyone calling for more government to protect us from anything is a fool.
Freeborn, if Ecuador did it, why not everybody? We can have the will—now we see a way.
I’d like to point out the fact that, although we might be able to smash the Banksters grip on our economy, they will still have the vicious, hateful, bloodthirsty Sayanim at their command…hundreds of thousands of Jewish judges, lawyers, cops, FBI agents, doctors, nurses, etc., all willing to do the bidding of their Bankster overlords. THEIR plans will not change…the destruction of the US (and the formation of the North American Union) will move forward. What most people fail to understand is that the Jews behind the New World Order MUST push their plans forward, no matter what the cost, because the rest of the world is very rapidly catching on to what they [Jews] have done, and what they’re trying to do, still. If they fail at this they will be annihilated, and they know it.
This criminal network will also have to be smashed…no matter what the cost.
The R.I.C.O. ACT is just one tool in the kit to deal with the problem.
Plan A and Plan B – are already known, its’ the long delayed Plan C that will become the remedy.
Read at;
http://www.zerohedge.com/print/365866
Paul that is almost $ million for every American.To stop inflation, half of it needs to go into retirement pensions for them.Good Luck.
Well, Paul, it’s like I said in my post above…they [Jews] are pushing their plans ahead no matter what we do. The ONLY way they can be stopped is if we PHYSICALLY stop them from proceeding.
So, if the RICO law can be applied, then apply it…otherwise, grab a rifle and follow me.
Delia, good points; if we cannot establish a working Constitutional republic, we are not citizens, we are subjects; We, the people have certainly had enough experience in the wrong way, we should know what to do.Write a concise constitution and enforce it. Hell, I could write a good document, and I aint as smart as most of you.
http://beforeitsnews.com/story/753/125/Greek_Army_Threatens_Military_Coup_Sparking_Fears_of_Military_Uprisings_And_Civil_Wars_Breaking_Out_Across_All_Of_Europe.html
Max Keiser gets it and speaks truth, capital punishment for bankster crimes. The revolution has started. Send thoughts, prayers, good wishes, whatever to the folks on the street in Athens; write letters to relatives in Ireland, Spain and Portugal. We should try everything—class action suits, Rico act, etc. Watch it however. We do not need another reign of terror and heads rolling in some Masonic blood bath. The solution to economic depression lies in honest wages for honest work; a Little St. Thomas Aquinas thinking wont hurt.
I suppose Im going to need to look up a couple more things but this is a pretty good place to start.