GREEKS PLAN PARALLEL CURRENCY
The Unhived Mind
April 6, 2015
GERMANS COULD WAKE UP TO FIND THEIR EUROS WORTHLESS IN THE EVENT OF A GREEK PARALLEL CURRENCY, ECB PLANS ILLEGAL BAN, DEVALUATION OF GREEK NOTES INSIDE CURRENCY UNION, WILL TRIGGER MASSIVE CAPITAL FLIGHT AND GLOBAL COLLAPSE IN CONFIDENCE IN EURO
https://birdflu666.wordpress.com/2015/04/05/germans-could-wake-up-to-find-their-euros-worth-far-less-in-the-event-of-a-gree-k-exit/#more-10008
*Note. GREECE ENTERED THE EURO WITHOUT A REFERENDUM AND IT DOES NOT NEED A REFERENDUM TO LEAVE AS MEDIA CLAIM, POLLS AND REFERENDUMS CAN BE MANIPULATED
Greek euro notes, which can be identified by the country prefix Y in front of the serial number on every note and not by the word euro in Greek letters as media falsely claim, could be devalued by the ECB in the event that Greece introduces a parallel currency, according to media. Greek notes could also cease to be accepted as legal tender outside of Greece, say media, in the latest attempt to intimidate Greeks poised to escape debt slavery.
http://www.der-postillon.com/2015/04/im-falle-von-grexit-alle-euro-scheine.html
Any ban or devalation of euro notes issued by the Greek central bank would be illegal. It would also affect people all over Europe because euro notes issued by the Greek central bank circulate all over Europe, indeed the world.
Greek euro notes have the prefix Y in front of the 11 digit serial number on every euro note.
German notes begin with an X, Greek notes start with a Y, Spain’s have a V, France a U, Ireland T, Portugal M and Italy S. Belgium is Z, Cyprus G, Luxembourg 1, Malta F, Netherlands P, Austria N, Slovenia H, Slovakia E and Finland L.
http://en.wikipedia.org/wiki/Euro_banknotes#Serial_number
Euro notes with the prefix Y are issued by banks and ATMs throughout the eurozone. A person in Germany, for example, can go to a bank or ATM and receive Greek notes along with French, Italian and Austrian, Dutch, Finnish and Slovakian, Belgian and German notes all mixed together. In fact, I have sometimes withdrawn euro notes from German and Austrian ATMs without a single note issued by either of those country s central banks.
There can be no clearer demonstration to all Europeans, and indeed to the the whole world, of how valueless the euro is than for a portion, which virtually every European holds, to cease to be legal tender of lose half or so of their value overnight thanks to a decree by the ECB. If ECB devalues Greek notes, it will result in a huge capital flight from the euro and a credit crunch.
Imagine a situation where the US Federal Reserve suddenly announces US dollars backed by the Dallas Federal Reserve are no longer legal tender outside of Texas or are to be devalued by a half. Imagine the Bank of England saying UK pounds circulating in Northern Ireland and Scotland are no longer legal tender in the UK or to be devaluated by a third or so. Something like this has never happened in any currency union for the obvious reason that it will lead to a complete collapse in confidence in the all the legal tender within that currency union.
If the ECB can decide unilaterally what value a portion of the euro notes have from one day to the next or which euro notes still can be accepted as legal tender, why should anyone use euros? What is the point of a currency union if the euros inside it can become valueless or have different values and if these values are determined on the whim of the ECB with no legal basis whatsoever? Whose euros are safe?
I d like to see what happens when Italians, Germans, Dutch and French wake up to find euro notes with the country code Y are no longer legal tender outside of Greece? What is going to happen if a person in Germany finds they cannot pay for petrol with euro notes with the Y country code which they have just collected from the ATM?
Why should any country bother staying in the eurozone if their euros can be devalued overnight by the ECB? Why should Germans hold Italian, French, Spanish or Austrian euro notes, if they could be devalued any tim?
There is also nothing in the ECB statutes which allows a devaluation of a portion of euro notes inside a currency union. If an illegal blanket devaluation can happen in Greece today, it can happen in Germany tomorrow. If the ECB tries to impose a devaluation within the currency union unilaterally without any legal base, it will destroy the last shred of confidence in the currency.
Also, there are about 80 regional currencies circulating in Germany. Why, then, can t Greece have one? Let s recall Greece is considering introducing a parallel currency not a national currency. Even if Greece did introduce a national currency, the ECB cannot devalue a portion of euro notes in circulation legally without destroying the credibility of all euro notes. It has to withdraw the notes with the country code Y from ciculation and, then, set a euro exchange rate for any new Greek national currency. This procedure was followed when the euro was introduced without a referendum. National currencies were withdrawn from circulation and replaced by the euro, not devalued or banned overnight.
If Greece can have its euro notes devalued over a regional currency, how long until German euro notes are devalued for the same reason by the ECB?
As Greece prepares to introduce a parallel currency, as I hope it does,, controlled opposition Yanis Varoufakis is in France meeting the IMF s Christine Lagarde. Perhaps they have time to talk about the Germanwings crash in the French Alps (Lagarde can show Varoufakis the site) as well as the Paris Match fake video and glossy shoot of Varoufakis. Perhaps they can also have a chat about the murder of the Polish central banker, who refused an IMF credit line, in the Smolensk crash cover up. Perhaps they will realize the Germanwings crash in the middle of France was one false flag too many.
Any illegal attempt to devalue portions of the euro by the ECB, is going to be one crime too many. It can surely be challenged in courts and will be.
It is time to stop the private creation of money and switch to government issued currency as Martin Wolf said in the Financial Times.
http://www.ft.com/intl/cms/s/0/7f000b18-ca44-11e3-bb92-00144feabdc0.html
It is time to put the ECB and IMF officials, including Mario Draghi and Christine Lagarde, on trial for financial crimes involving the misuse of the fractional reserve banking system and for fraudulently misrepresenting the true nature of the crisis to profit bansks .
Devaluing euro notes inside a currency union with no legal basis is surely a reason for a class action lawsuit against the ECB. Germans should go to the courts, too, because German euro notes too becomes worthless overnight as well as do all the euro notes inside the currency union.
Enough is enough.