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«L'État et les banques, les dessous d'un hold-up historique» par Myret Zaki et Etienne Chouard

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    State and banks, hidden aspects of a historical hold up
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    Conference by Myret Zaki and Etienne Chouard
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    Moderation: fabio Lo Verso (La cité)
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    First conference
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    "The State, Hostage of the financial sector"
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    By Myret Zaki
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    I'll stay here taking notes because there will be an article about this topic in the next issue of
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    newspaper "La Cité" coming out next week
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    we'll come back on tonight's discussion
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    Thank you very much Fabio, and good evening to all of you
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    I am delighted to be here with professor Chouard
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    and to discover "l'usine Kugler"
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    and to work in collaboration with "la cité" newspaper
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    I personally work for an economics magazine called "Bilan"
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    I've written a few books denouncing the
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    drift of the financial sector
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    these last years
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    I've been following the evolution of finance the last 15 years
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    and I've seen how they played a central role in what we now call "the crisis"
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    so we are in the middle of a crisis as you probably noticed
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    But we don't really know why now
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    we suddenly said that Greece was in crisis
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    Can anyone tell me why, according to them,
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    what triggered the "Greek crisis"
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    that is a enormous crisis since end of 2009
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    What started all of that in the first place
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    if you tell me it is because of its debt
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    I will tell you that Greece has the same debt level since several years
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    who decided there is a crisis? does anyone know?
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    Nicolas Brillet who knows all the answers :-)
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    The bad advices of Goldman Sachs and the way they've hidden
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    a part of their debt has contributed greatly
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    ok good thread. The advices of Goldman sachs
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    contributed to the crisis. I agree
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    everything started when at the end of 2009 the notation agencies
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    have said that Greece was having little financial difficulties
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    as several countries of western Europe
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    Their debt rate had slightly declined lately
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    and that they needed to improve the way they manage their finance
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    that's all
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    rating agencies never said that Greece was in bankrupt
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    All they said ...(sorry I am speaking too loud in this mic)
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    In the coming years Greece should
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    try to have a better management of its finances
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    and that was in 2009
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    what did really trigger the crisis is that
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    there was a meeting between 5 hedge funds
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    american hedge funds in a restaurant in new York
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    an american newspaper told that story
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    this is not a fiction
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    one of the speculator present that day was Georges Soros
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    the man who hit the bank of england several years ago
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    and earned 2 billion dollars on an operation to devaluate
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    the british pound.
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    in the seventies
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    So george Soros and a few other american speculators have decided
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    now the subprime crisis is over
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    they needed to find a new prey to make a lot of money
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    It was in february 2010 precisely in a New Yorker restaurant
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    And those people have decided together
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    to attack the euro first through
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    Grece and then through small outlying countries
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    the idea is that if you sink a small countrie such as Grece,
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    there will be a phenomen of panic on the markets which will involve that the other neighbours countries will be contaminated too
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    because the investors will sell their titles too on those countries
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    and that those speculators we were talking about, will be able to grow rich in the infinity
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    on, in reality, the bankruptcy of Europe's periphery and even of the whole Europe
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    somewhere, G.Sorros was trying to creat the same blow
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    he had done and that made him billionaire in the seventies.
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    It hasn't been told a lot, it doesn't interest a lot of people
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    when you speak about it to personns working in the financial and banking sector
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    they say no, all this is very marginal and isn't for something
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    But we know very well that
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    those hedge funds have then massively
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    selled the debt
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    speculator earn money on the drop
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    of the debt or the actions of a country
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    you can really make money on the drop if
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    you bet with derivatives on the collapse of
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    of a market and this is how
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    loads of millionaires and billionaires have form themselves
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    during the last years with the european crisis.
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    It is the facts and the figures
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    We know which hedge funds are involve, which managers
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    We know them, there are mostly British and Americans
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    and they know perfectly the art of spectulation
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    They have accumulated sell positions, during end 2009 and on the begining 2010 against Grece
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    The Greek economic minister was touched about it
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    Indeed Greek gorverment can see the moves made on their debt: they asked themselves what is going on
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    our debt is suddenly the subject of a fierce downward bet
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    effectively what are these attacks going to induce
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    How can these attacks really sink a country
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    Because when you sell massively the debt of a small country like that
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    the interest rates that this small country must pay on his debt are explosing
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    Because if the country's obligations drop dramatically of its value
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    the interest rate increase itself automatically
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    this is then how suddenly Grece have to pay 7% and up to 20% recently
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    This is how Grece have been expulsed of european capital market
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    She couldn't finance herself anymore on the international debt market
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    It comes from markets. Grece has been in crisis through
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    the anglo saxon speculatives attacks.
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    As have Nicolas, here by present, noticed:
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    So, Goldman Sachs had advice Grece to adopt very complex financial tools
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    that Goldman Sachs had set up
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    to mask their real indebtedeness situation to the rest of the E.U
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    Goldman Sachs had in a first time from the years 2000
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    help Grece reduce their real debts only in appearances
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    What has Goldman Sachs done meanwhile?
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    Godlman Sachs went to see some hedge funds which were their clients
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    (these speculatives funds for whom they work)
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    and said: Hey you know what I have a very good information to share with you
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    Grece is much more indebt that she is in reality
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    'Insider trading' this is how it is called
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    Goldman Sachs has shared this information with her clients
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    which allowed speculative funds
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    to attack this debt by advance
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    knowing that the real balance figures of Grece were going to be revealed beginning 2010
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    So you motivate Greece to adopte misleading instruments
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    which will bring her to have more debts than she had
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    then you benefit of the problems
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    that are caused and you share the information with other hedge funds
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    And then took place a kind of butchering of the greek debt
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    the hedge funds went straight on it
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    and the other investors, like the sheeps that they are
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    because finnally the investement world is very herd
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    when they saw that there was a kind of "alert" on the Greek debt market
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    they all started to sell.
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    If you want, speculative funds act like an elite cavalry
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    which comes first and destabilize a country
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    Then come pensions funds and investissors from all over the world
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    who, though they do not understand anything about this story, start selling as well when they saw the risk rising up,
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    That is how you ruin a country.
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    Because a country seeing is debt collapsing like that, and which have to pay some 20% interests
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    can only enter in quasi-default and get out of the capital market
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    So, seeing that they made a so nice strike, the edge fodns didn't want to stop on a so good way,
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    they carried on. Then, the same happened to Portugal, then Irland, then Spain. Then it came to Belgium, then Italy.
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    And the last new ones have been: France, and even GERMANY. Germany which is the more solvent country in the world, the stronger country in the word
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    has been more or less attacked on the international debt market.
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    What are we talking about now? We are talking about a phenomenon which is: If you are a country which have his debt quoted on a market,
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    you are completely vulnarable to some attaks, some RAIDS I would even say
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    some real raids from some scrupleness financiers,
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    and, especially the most important is that these people are not regulated at all.
Title:
«L'État et les banques, les dessous d'un hold-up historique» par Myret Zaki et Etienne Chouard
Description:

NOUVEAU : VERSION "ENRICHIE" DE LA CONFÉRENCE / PREMIÈRE PARTIE DISPONIBLE ICI : http://www.youtube.com/watch?v=3AUbvQIdxy8

Nous cherchons des traducteurs (tout sauf anglais:)

La Fonderie Kugler présente deux conférences en partenariat avec le journal bimensuel La Cité (http://www.lacite.info/) - (http://www.usinekugler.ch/)

Myret Zaki, rédactrice en chef adjointe du magazine Bilan, «L'État, otage du secteur financier»

Étienne Chouard, professeur d'Économie-Gestion à Marseille, chercheur indépendant, «Enjeux pour le peuple du contrôle public de l'État et de la banque».

Pour y accéder directement : http://www.youtube.com/watch?feature=player_detailpage&list=UUuqKwvlBmW_ZZoDbV89LBOA&v=TLjq25_ayWM#t=2105s

Modération par Fabio Lo Verso de La Cité

En complément à la conférence de Myret Zaki, un article qui revient sur les convives du dîner du 8 février 2010 : http://blogs.mediapart.fr/blog/netmamou/030112/un-diner-de-malfrats-pour-mettre-les-europeens-genoux

Un autre article sur les agences de notations : Qui se cache derrière Standard & Poor's : http://www.abadinte.com/2011/12/qui-se-cache-derrire-standard-poors/

En complément à la conférence d'Etienne Chouard, une analyse qui questionne l'importance de la "loi de 1973" : http://www.lemonde.fr/idees/article/2011/12/29/la-loi-pompidou-giscard-rothschild-votee-en-1973-empecherait-l-etat-de-battre-monnaie_1623299_3232.html

La réponse point par point d'Etienne Chouard : http://etienne.chouard.free.fr/Europe/forum/index.php?2011/12/30/178-analyse-des-reflexions-de-monsieur-beitone-sur-la-pretendue-rumeur-d-extreme-droite-a-propos-de-la-loi-de-1973

Excellent résumé de la conférence en une page sur le blog planetisme : http://www.planetisme.net/2012/05/crises-economiques.html

Transcription écrite de la conférence réalisée par le blog creersamonnaie / (merci à eux:) http://creersamonnaie.over-blog.com/article-crise-financiere-grecque-origine-americaine-explications-francaises-96733594.html
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Video Language:
English
Duration:
02:30:16

English subtitles

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