Astounding Quote Lifts Veil on Elite’s Arrogance

“A Greek economy in depression, austerity that guarantees they’ll stay in depression and living on life support from the rest of Europe is the best.” - Kit Juckes, global head of foreign exchange at Societe Generale, May 18, 2012 (video below)

Bankers Want to Keep Greece Mired in Depression

May 29, 2012

Infowars.com - An astounding quote buried at the bottom of a CNBC article lifts the lid on the arrogance of the global banking elite and their desire to see Greece remain mired in depression.

The article, entitled Greece to Leave Euro Zone on June 18: Wealth Manager, focuses on Integral Asset Management’s Nick Dewhirst’s contention that Greece will exit the single currency the day after national elections on June 17 if the populist party is victorious.

However, in the very last paragraph of the story we read: “Kit Juckes, global head of foreign exchange at Societe Generale, told CNBC’s “Worldwide Exchange” (see video above) that the best outcome was “the status quo.”

“A Greek economy in depression, austerity that guarantees they’ll stay in depression and living on life support from the rest of Europe is the best,” he said.

As the representative of Societe Generale, one of Europe’s biggest banks, Juckes is brazenly admitting that the elite would rather see Greece rot and decline into a failed state than allow her to leave the euro and become economically independent once again.

Juckes’ quote also underscores how the austerity measures imposed on Greece by European technocrats are not in the country’s best interests at all and are in fact designed to keep Greece’s economy under the dictatorial control of the banking elite.

As we have previously documented, the biggest fear amongst technocrats is not for the welfare of the Greek people in the event of bank runs and panic engendered by an exit from the euro, but that a post-euro Greek economic recovery would provide a good example for other countries in the eurozone to follow.

In a Financial Times piece written by Arvind Subramanian, a Senior Fellow at the Peter G. Peterson Institute for International Economics, which counts amongst its directors numerous influential Bilderberg members, including former Federal Reserve chairman Paul Volcker, former United States Treasury Secretary Lawrence Summers, and Bilderberg kingpin David Rockefeller, the elite’s true concerns over a ‘Grexit’ are perfectly encapsulated.

“Suppose that by mid-2013 Greece’s economy is recovering, while the rest of the eurozone remains in recession. The effect on austerity-addled Spain, Portugal and even Italy would be powerful. Voters there would not fail to notice the improving condition of their hitherto scorned Greek neighbour. They would start to ask why their own governments should not follow the Greek path and voice a preference for leaving the eurozone.

“In other words, the Greek experience could fundamentally alter the incentives for these countries to remain in the eurozone, especially if economic conditions remained grim,” writes Subramanian, adding that Greece’s potential exit “may prove an infectious model” and lead to the demise of “the eurozone and perhaps for the European project.”

As Nick Dewhirst explains, the pro-euro camp has been exaggerating the negative consequences of a Greek exit by ignoring the fact that it would in fact be a boon for the Greek economy.

“Greeks would no longer be able to afford German cars and Germans would be able to buy Greek villas and the young unemployed in Greece would have jobs as tourism booms. The best thing would be that they [Greeks] could blame the foreigners,” he said.

Globalists want to keep Greece in depression and “living on life support from the rest of Europe” as Juckes puts it because they know that if Greece escapes the clutches of the technocrats its inevitable economic recovery will blaze a trail for other eurozone countries to follow suit, leaving the elite’s 50-year plus project for a European federal superstate in tatters.