Monday, August 18, 2014

British Empire Set to Foreclose on All of Europe, Using their Vulture Funds and Russia Sanctions

The same predatory vulture funds that have gotten a green light from the Obama administration and the Supreme Court of the United States to foreclose on the nation of Argentina and wipe it, and its 41 million inhabitants, off the face of the planet, has been quietly positioning itself over the last 18 months to buy up tens, if not hundreds, of billions of dollars of bad debt on the books of Europe's leading banks, for 3-4 cents on the dollar, to then turn around and use their corrupt court systems to forcibly collect full face value—Argentina style. 
Having whet their palates on smaller carrion such as distressed debt in the Democratic Republic of Congo, Rumania, and Peru, and with the courts granting them a license to kill in the Argentine case, the British Empire's vultures have now turned their sights on larger prey: Europe.
According to multiple accounts in the Spanish media, including, Paul Singer's NML Capital, and its parent, Elliott Management—the lead vulture fund in the current assault on Argentina—over the course of 2013 bought up at least EU1.3 billion in non-performing loans from Europe's largest bank, Banco Santander, and associated Spanish financial institutions such as Bankia. The total cost to Elliott was a mere EU50 million, less than 4% of the face value of the loans. Elliott also purchased the Spanish "debt recovery" firm Gesif at the end of 2013, to convert it into its operational base in Spain for the expected surge in "business" in 2014.
In March 2013, Elliott Management bought EU300 million in bad debt from Banco Santander for a trifling EU12 million. In August of that year, Elliott teamed up with two other vulture funds—Norway's Lindorff, and the New York-based Cerberus Capital Management—to buy EU1,354 million in non-performing loans from the bankrupt Bankia. Elliott took the lion's share, EU1 billion, for a reported EU38 million, or 3.8% of face value.
Lindorff has also been gearing up for action in 2014, having purchased Banco de Sabadell's and then Banco Santander's "debt recovery" division, Reintegra Comercial Espana, which Lindorff director Endre Fangnes explained would "broaden the long-term relationship that the group has with Banco Santander in Europe, and is also an important step in its growth strategy." Lindorff currently has 3,500 employees in 11 European nations, including Norway, Germany, Russia and Spain (where it has 720 employees).
The vulture funds are buying up large quantitites of distressed debt, not only in Spain but across Europe, in collusion with the bankrupt banks. That is meant to help the major banks pass the stress tests which the European Central Bank is currently conducting, while offloading some $800 billion in non-performing real estate loans, and other bad debt to the vultures. (Eurozone banks' bad debt overall amounts to at least $1.5-2.0 trillion on their balance sheets.) At that point, the British gameplan is for the vultures to foreclose on their victims, the nations of Europe, which have been intentionally weakened economically by the rounds of sanctions now being imposed on Russia. Russia, itself, is being targeted with economic warfare in order to intentionally drive it into default, as City of London mouthpiece Ambrose Evans-Pritchard recently bragged.
This is what Lyndon LaRouche has described as a massive, global attempted bail-in of the British Empire. Its implementation will end up wiping out up to 6 bilion out of 7 billion human beings on the planet, which is the stated intent of the British Empire.
LaRouche denounced the vulture moves on Europe as a"total fraud, the greatest fraud imaginable. It is the same thing as the absolute fraud of the targeting of Russia. This is all coming from London. Put the blame squarely where it belongs: It's the British Empire." - One of the two systems of the Holy Roman Empire.