Home

A federally-registered independent political party

Follow the CEC on Facebook Follow @cecaustralia on Twitter Follow the CEC on Google +


Follow the CEC on Soundcloud












New Document
The "Detroit Template" and the "Cyprus Template": A Tale of Two Cities
July 24, 2013 • 11:03AM

Detroit Mayor David Bing said on Sunday what everyone other than total morons now know: that Detroit is just the beginning of the planned wave of bankruptcies across the country.

"We're not the only city that's going to struggle through what we're going through. There are over a hundred urban cities that are having the same problems we're having. We may be one of the first, we are the largest, but we absolutely will not be the last." He added that "I have gotten great support from this administration," although there's no word on a federal bailout of Detroit yet.


Detroit leads the world in abandoned structures. CC: Albert duce.

In fact, the "Detroit Template" for the slaughter of American cities and states, is identical in all essentials to the "Cyprus Template" for Europe — as we stated from the moment the bankruptcy filing was announced in mid June. Detroit and Nicosia could actually be considered sister cities. And in this tale of two cities, it has been the best of times (for the banks), and the worst of times (for the people). In the case of Cyprus, in order to restructure and keep servicing the 15.4 billion euros ($20.3 billion) in national debt owed to its creditor banks, about 60% of people's bank deposits were unceremoniously stolen. As a result, unemployment has zoomed, health care and education are being savaged, and so on.

In the case of Detroit, $18 billion in debt is being "restructured," by providing the predator banks that caused the mess in the first place about 80 cents on the dollar, and other bondholders and pensions just pennies on the dollar. And we have documented the physical economic devastation underway in Detroit to make sure this happens.

In short, the banks have been put on life support, while the population has been put on death support.


Citizens Electoral Council © 2016
Best viewed at 1024x768.
Please provide technical feedback to webadmin@cecaust.com.au
All electoral content is authorised by National Secretary, Craig Isherwood, 595 Sydney Rd, Coburg VIC 3058.