The Canary Is Dying of Asphyxiation
November 3rd, 2011
Dennis Behreandt of New American writes:
I have a theory about the canary in the coal mine. I expect that before it died of asphyxiation, it would panic and chirp loudly and vigorously at the prospect of its coming demise. It would then fall silent, and pass out, and its change in behavior would warn the miners that the air in the mine had become foul.
Take a look at what has transpired in Greece over the last couple years, namely in the last few months, and it should be clear that the canary is dying of asphyxiation before our eyes. Panic has set in at the highest levels of the Greek political and financial echelons, and they are thrashing violently and with the kind of irrational volatility of a canary that senses its imminent demise.
There is no way out of the coal mine.
Last week the Dow Jones was propelled 600 points to new yearly highs after news that European Unions leaders had finally found a solution for the crisis – the third or fourth of its kind (we’ve lost count, at this point). By Monday morning that deal, like all of those that preceded it, was once again on the brink of falling apart when Greek Prime Minister George Papandreou called for a nation wide referendum that would allow the Greek people to vote on whether or not the EU deal should be approved.
Global markets were instantly spooked. Rather, shall we say, it was the bankers, financiers and political powerhouse leaders like Germany’s Angela Merkel and France’s Nicolas Sarkozy who were worried. If it were up to them, the Greek people should have no say in what their government should do. Their idea of a solution is one that is approved without incident by Greek parliament leaders and economic ministers who are in the pockets of the lobbyists and special interests that would benefit from a sell out of the country’s future resources, capital and labor force.
A solution that includes and looks out for the interests of the Greek people is simply not a viable option for the global elite. The people are, after all, just proles and serfs – certainly not capable of holding their government and financial institutions accountable for their transgressions.
Looking back at the 2008 banking collapse in the United States, and the subsequent trillions of dollars in bailouts that followed against calls of protest by nine in ten Americans, it’s impossible to ignore the pattern that has emerged.