Greek Police Union Threatens Bankstas

"Since you are continuing this destructive policy, we warn you that you cannot make us fight against our brothers. We refuse to stand against our parents, our brothers, our children or any citizen who protests and demands a change of policy."

"We warn you that as legal representatives of Greek policemen, we will issue arrest warrants for a series of legal violations ... such as blackmail, covertly abolishing or eroding democracy and national sovereignty."
-Greek Police Union to the Bankstas

World Revolution Update

Greece is lowest...and US is worse

Standard & Poor's downgraded Greece's credit rating by three notches today, making it the world's lowest rated country. They're apparently bullish on a Greek default.

A restructuring of Greece's debt — either with a bond swap or by extending maturities on existing bonds — looks increasingly likely to be imposed by European policymakers as a means of sharing the burden of Greece's crisis with the private sector, S&P said in a statement.

"In our view, any such transactions would likely be on terms less favorable than the debt being refinanced, which we, in turn, would view as a de facto default according to Standard & Poor's published criteria," the agency said.
-CNBC

On Wednesday, there will be a general strike, and the general assembly will vote on the "mid-term" agreement with the Troika. And the protestors, some of whom have been camped out in Syntagma square for three weeks now, are threatening to blockade the parliament if they vote away Greece's future to the bankstas. Not surprisingly, Greek officials are cleaning out the underground tunnel from the Greek parliament to Lykavitos and the sea port of Piraeus.

Seriously.
Greek politicans are actually preparing to have to scurry away from an unpopular vote through a tunnel, fearing for their lives.
The Greeks have an excellent opportunity to become the re-birthplace of democracy.
How cool is that?

Meanwhile, over in the #1 exporter of democracy, PIMCO founder and co-CIO, Bill Gross, told CNBC that the United States is actually worse off than Greece.

Much of the public focus is on the nation's public debt, which is $14.3 trillion. But that doesn't include money guaranteed for Medicare, Medicaid and Social Security, which comes close to $50 trillion, according to government figures.

The government also is on the hook for other debts such as the programs related to the bailout of the financial system following the crisis of 2008 and 2009, government figures show.

Taken together, Gross puts the total at "nearly $100 trillion," that while perhaps a bit on the high side, places the country in a highly unenviable fiscal position that he said won't find a solution overnight.
-CNBC

(sigh)

Which begs the question: What will it take to get the American people to surround congressional hill?

Greece paying pensions to dead people while the living continue drawing down their savings

So as the world waits for the latest news on Greece's impending default-by-another-name, two interesting Reuters stories posted this morning.
First, it has come to light that 4500 dead people are still collecting pensions from the Greek government.

(Reuters) - Thousands of Greeks have been receiving pensions despite being long dead, the Labour Minister said on Monday, promising to crack down on social security fraud that is costing the debt-laden country millions each year.

Minister Louka Katseli also said the government is investigating a suspiciously high number of people over the age of 100 and still drawing their pensions.

Data crosschecks had revealed that about 4,500 deceased civil servants continued getting their pension cheques, burdening taxpayers with more than 16 million euros (14 million pounds) each year, Katseli told daily Ta Nea in an interview.

Based on that news, this next piece should be no surprise: There's a slow run on Greek banks that has been going on for quite some time. April deposits shrunk by another 3.5 billion euros.

Deposits have shrunk by about 13 billion euros since the beginning of the year. In 2010, they contracted by 29.1 billion euros or 12.2 percent.