*VATOPEDI ABBOT EFRAIM TO BE PUT BACK ON TRIAL
*RECEIVED 109 MILLION EUROS FROM VGENOPOULOS’ MARFIN BANK
*MOUNT ATHOS MONASTERY PLAYED ROLE IN CYPRUS FINANCIAL COLLAPSE COASTING TAX PAYERS 4 BILLION
*EFRAIM TO BE MADE HONORAY CITIZEN OF VOLOS FOR SPENDING SO MONEY
*TH SPECATATOR REPORTS ON INCREDIBLE WEALTH OF MOUNT ATHOS, BUILDING SITE
The long running trial of 14 people over the Vatopedi Monastery land swap scandal is to resume with Abbot Efraim in the dock for running what seems to be a vast sprawling web of corruption.
It appears Efraim’s ring ran cash slush funds to bribe politicians, offshore companies, got nearly 200 million euros in loans from banks, and played a role in the engineered collapse of the banks of Andreas Vgenopoulos in Cyprus which cost tax payers 4 billion euros.
It is not clear if the Supreme Court will review any verdicts of prosecutor Efstathia Spyropoulou as the case resumes.
Vatopedia received 109 million euros in loans from the banker Vgenopoulos, Marfin Popular Bank, using a lot of the loans to prop up the shares of the Vgenopoulos group and apparently property prices before pulling the plug.
To understand the fraud, it is important to recall that under the fractional reserve banking system, banks can print money out of thin air as Professor Franz Hormann explained in 2010, which I translated into English on this blog.
Therefore, Vgenopoulos’ bank lent no real money to Vatopedi. Its loans were just book keeping entries. Likewise, its losses were also only book keeping entries, existing on paper, in accouting systems.
Any bank which can hoodwink the public into thinking it has real money, and has lost real money and, which can exaggerate its losses and is, therefore, on verge of collapse, and needs a financial injection to survive, can blackmail billions in tax payers money. That billions of bailout funds is pure profit for the banks. It is real money earned in the real world by real work, real products and real trade.
Propery investments are the ideal way for a bank to artificially exaggerate its losses. By giving easy loans, banks can push up the price of property. Banks can then burst the property bubble by contracting the credit supply. They can then exaggerate their losses on properties and other items by overvaluing them using the fair value accounting system.
For this scam, banks need accomplicies to take loans and burn the money, by making as big a loss as they can on their investments, overpaying for property and shares, to exaggerate their losses, and, therefore, the banks debts and so allow the banks to declare they are in a financial crisis and need bailout money urgent.
I need to explain this more clearly, add the references and send the informaiton to the Greek Supreme Court so they can get a conviction of Vgenopoulos and Efraim, not to mention Theodekti and the Bishop of Volos.
Monks at the Vatopedi monastery helped make those losses for Marfin.
They also bought shares in Marfin Investment Group (MIG), owned by Andreas Vgenopoulos. That year MIG lost €1.8bn, the biggest ever for a Greek company to that point.
It added: “The monks were also major players on the stock market and received €109m euros in loans from Marfin bank.”
Vatopedi continues to have vast sums of money and a major contributor to the economy of Volos, something which has resulted in a proposal crooked Efraim being made a honorary citizen of the city of Volos last week.
Meanwhile, The Spectator reports on the vast wealth of the secretive Mount Athos and asks where the money is coming from.
The author does not realize the Orthodox Church is divided into two parts in conflict with the Russian Orthodow opposing the Globalist New World Order run by the banks and the Greek Orthodox Church and the Ecumenical Patriach of Istanbul, who is in charge of Mount Athos, being major players in for the Globalists as Russia’s boycott of the Holy Synod on Crete shows.
Almost certainly, the vast money the Greek Orthodox monasteries have does not come from Russia but from the bankers and corruption, as the Vatopedi loans and land swap scandal shows.
“Mt Athos is currently one large building site in contrast to the dereliction and poverty of the rest of Greece. It seems unreal that humble monks should be employing so much specialist labour. This must be costing hundreds of millions of euros. The ancient buildings have received EU and Unesco grants, but these surely account for a fraction of the lavish expenditure I observed. Such huge grants could not be justified given that access is so limited and entry is forbidden to women,” reports The Spectator.