Commenting about Greece’s debt crisis on a panel discussion on Dylan Ratgan’s show on MSNBC last night, investigative reporter and author of the book “Vulture’s Picnic” Greg Palast said that what happened in Greece is not about a loan (s), but in fact it is “about a crime” that was committed on the backs of the Greek people by the banks.
“The real story” said Palast is that in the case of Greece “you don’t have a bunch of ouzo drinking, olive pit spitting Greeks who retire when they are teenagers and are too lazy to show up for more than half an hour of work everyday,. That is the line they are selling to us. They are trying to punish and blame the victims of the crime” he said and not the culprits of the fraud! “Goldman Sachs beginning in 2001, 2002, cut a deal to secretly take Euros out of the Greek treasury convert them to YEN and convert them back to Euros.”
Palast said this was done through some fancy, as he put it, derivative action. The reporter said that after this “Goldman Sachs takes a billion dollar loss, the Greek government gets a gain and there is no deficit in the Greek Treasury (it is only three percent), so the economy looks good”.
“Goldman” notes Palast “does not take billions in losses… It is a scam, it is a fraud. They have cut a secret deal to get that money back and then some.”
He also points out that these days, fraud is not cheap, and underlines that Goldman charged 300-400 million dollars to pull off this scam!
At this point he was abruptly interrupted by the show’s host, who we can all guess did not like what he was hearing, not did the other speakers on the panel who were quick to begin make judgments on what Palast said.Indicative of this was the host who said “Goldman is not here to represent itself”. (Oh brother!!!)
The host then tries to patronize Palast and asks if he has attempted to address these “accusations” to Goldman Sachs directly, and the reporter puts him in his place by replying that not only has he done this but reminds him that he has worked for BBC television, were they have actual investigative reporting reminding him that this is “not legal under the Patriot Act 4 in the United States”.
He said that he has attempted to get in contact with Goldman Sachs about this specific issue on a number of occasions, but to no avail. “They put out a boloney statement admitting that they did currency exchanges.” And then he says the incredible… “I used to do racketeering investigations for the US government, this is the (same) type of stuff, fraud on the market, they hid these transactions, they made it appear that the Greek economy was not in deep trouble”.
“In Iceland what they did was they arrested the prime minister when the flim-flam there was uncovered. You don;t bankrupt the victims and let the criminals walk.Goldman Sachs stillhashalf a billion dollars of profits in its pockets. It is not the people, but the criminals committing the fraud that should be charged.”
The video is a must watch!