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What’s behind the global bankers’ austerity programs: Seizure of public property for corporations

By Wayne Madsen | June 15, 2011

What lies in store for Greece, Portugal, Spain, Ireland, Italy, and, in short order, the United States, is the wholesale sell-off of public property to private corporations at bargain basement prices. What the despots who gather in their secretive lairs at Davos, Cernobbio, Bilderberg, and G8/G20 are bringing about is a world where no property is owned by the state, which by default means the people. Total corporate control over every facet of life equals extreme fascism.

What is occurring in Greece is a bellwether for what will befall other nations in Europe, as well as the United States, if the bankers get their way. And in Greece, the people know how generations of investments by the taxpayers are being turned over to vampire capitalists who have the full backing of the International Monetary Fund, European Commission, and the European Central Bank.

The European and global bankers have demanded that the Greek government sell off entirely or assume a minority stake in a number of state enterprises and utilities.

For example, this year global capitalists are slated to acquire 84 percent of OTE, the Greek telecommunications provider. In addition, private bankers will assume 66 percent ownership of the Greek Postal Savings Bank; 51 percent of the National Lottery; 60 percent of the Salonika Water Authority; 68 percent of DEPA, the natural gas utility; and 25 percent ownership of the ports of Piraeus and Salonika.

Next year, the capitalist grab for public property increases in intensity with Athens International Airport coming under 79 percent private ownership. The global capitalists will also obtain 100 percent ownership of the Egniata toll motorway; 60 percent of Hellenic Post; 66 percent of OPAP, the state-run video-lotto and online sports betting firm; 73 percent of the Athens Water Authority; 83 percent of DEI, the Greek Electric Authority; and 51 percent of the Greek Regional Airports Authority.

The Greek Communist Party has vowed to fight against the acquisition of public property by the private sector. In fact, it is the Communist parties of Europe that have been the most vocal against the power grab by the bankers but their opposition to the privatization moves receives very little attention by the corporate-controlled media.

Massive sell-off lists of public property are now being drawn up by the governments of Portugal, Spain, Italy, and Ireland. In the United States, there are calls for the privatization of the US Postal Service, Social Security, and Medicare.

One Libyan government official this reporter spoke to in Tripoli, during an intensive NATO bombing assault, opined that the same fate is in store for the Libyan Socialist Jamahiriyah. With the highest standard of living in Africa, Libyans could witness the U.S.- and NATO-backed rebel government begin to sell off Libyan government assets to global capitalists. The Libyan official said, “These people [global bankers] would sell the air if they could get away with it.”

Previously published in the Wayne Madsen Report.

Copyright © 2011

Wayne Madsen is a Washington, DC-based investigative journalist and nationally-distributed columnist. He is the editor and publisher of the Wayne Madsen Report (subscription required)


Investment bankers salivate over North Africa

June 15, 2011 - Posted by | Economics, Timeless or most popular


  1. Before the globalists can drop the borders, all humans must work for the same low wages, and all currency be driven down to the same worthless level, and everyone must be a slave to the same global private central bank. This IS the New World Order.

    Comment by Michael Rivero | June 16, 2011

  2. Comment by The Late Great Joan Veon (RIP) | June 16, 2011

  3. From what I’ve understood, the total return on the sell-off of Greek utilities and infrastructure would amount to a mere 10-15% of what [it is claimed] Greece owes.

    Last year, the British government proposed the sell-off of Welsh, Scottish and English forests, ie, public property, claiming that the measure would help lighten Britain’s debt burden! The Brown administration also floated the idea of taxing savings accounts …

    This is sheer insanity.

    For those who are interested in the financial situation in Europe, there’s not a blog I would recommend more highly than David Malone’s Golem XIV. He’s digging deep into the roots of the “financial crisis” and floating interesting ideas. See, notably, Who bankrupted Ireland?, in which Malone’s research uncovers a nest of millionaire investors, not the “grannies and orphans” whom financial institutions claim would be hurt by restructure of Irish debt.

    Comment by sijepuis | June 16, 2011

  4. I was talking with our dermatologist about how we might pay off our debt to the Chinese et all. I mentioned Yellow stone national park and she said that Yellow stone was already owned by the UN.

    Comment by ehswan | June 16, 2011

  5. The Greeks are behaving stupidly, If they don’t want to be sold out they will just have to retire at 65 like most of us, pay their taxes properly so this can happen, instead of wheeling and dealing in cash to get out of paying taxes (Greece isn’t a third world country is it?). Socialism and Communism seem only to make people more surly, sullen and unhappy. People seem to forget know matter who is at the top running things they are usually feathering their own nest or agenda. The most loud outspoken cretins don’t know their history, nothing has changed on Planet Earth since the big bang. Get over yourselves and be happy, or better still try and make some else happy you will better immediately.

    Comment by Susan lawrence | June 24, 2011

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