Good for the Greeks. Why in world should any sovereign country
place the profits of private foreign banks ahead of the assets of
the people of an entire country is beyond me. It is only a matter
of time before the countries of the world start to follow Iceland's
lead and tell the bankers to take a hike and start putting the
crooked politicians working with them in jail. If you apply just an
ounce of common sense to the big "banking" picture you quickly
realize that the 10 largest banks in the world are literally going
from country to country attempting to steal each country's wealth.
Add up the total amount the banks claim the "world" owes and one
quickly sees it is far more that the wealth of the countries
involved could ever have possibly borrowed in a traditional sense.
And given this where are the tangible assets/services that these
countries allegedly borrowed all this money to buy? Even if every
penny was given to the citizens (didn't come close to happening)
where are all the goods and services that these trillions would
have bought? If your asking a country to repay many times their GNP
the logical question to ask is OK where did the money go?
The losses are all on paper (derivatives are a prime example).
They were contrived to create paper losses from the outset. This is
a simple case of fraud and extortion by the banks. It is pretty
much the same small group of banks in every country. The quicker
that banks are stopped by simply NOT paying them any more money,
the quicker the markets can make adjustments and return to
equilibrium. Bear in mind that in essence the world at large is
being asked to bankrupt the citizens of entire countries to allow a
handful of banks to generate massive profits. My point is
that sooner rather than later entire countries are going to go
after the banks and the market turmoil that results will be
interesting to say the least.
Why should they have any confidence? Isn't the 'easier' way out
to basically default and not pay anybody anything? Short sighted?
Of course, but the mob wants what the mob wants NOW.
YES WE CAN do it here too, with just four more years! Sorry this
should be off topic, huh?
It's not so easy. Greeks are well aware that a default would be
extremely painful. Bear in mind that Greece has a primary fiscal
deficit which means that it can't even pay pensions, wages,
hospitals, schools and basic infrastructure this month without
bailout money. Even more severe austerity measures as demanded,
however, is like squeezing blood from a stone. The "mob" are real
people who are suffering through pension and wage cuts, job losses
and mounting taxes. The adage "between a rock and a hard place"
accurately describes where the Greek population finds itself
today.
And so when they default and the European Union turns their
backs to them where do the Greeks think they will find the money to
do anything? I would think austerity is better than getting
nothing.
Obviously you don't think that the EU has less then vested
interests in saving Greece. Greece is the lynch pin to a very
explosive situation. My point was that austerity measures alone
whilst piling on more debt to pay previous debt will not stop the
endgame and the Greeks know it. The Greeks would respond more
favorably to any sort of coherent policy to address huge structural
problems in the economy. But they only see power plays to save the
crumbling edifice of the Euro...
Can they repudiate the Socialistic policies and wild free
spending and big govt that has placed them in this situation? Will
they turn on the Union and political machines that have promised
the world and delivered by bankrupting the nation?
What's worse is that if allowed to default, the rest of the
world will rush in to lend the next govt all it wants to keep the
fantasy going in another round of ponzi socialism and fraud.
Reality of the matter is...We really need to Govt to step in to
save Italy, Spain & Portugal. We are talking about significant
financial catastrophe if we dont step in. Mortgage mess will be
peanuts compared to the global impacts. Can you say Global
depression with 20% plus unemployment world wide.
Start with the politicians and union thugs, er bosses. Then
throw in the bankers who facilitated this irrational borrowing and
spending.
Ebenezer: Are there no prisons?
First Collector: Plenty of prisons.
Ebenezer: And the workhouses - are they still in operation?
First Collector: They are. I wish I could say they were not.
Ebenezer: Oh, from what you said at first I was afraid that
something had happened to stop them in their useful course. I'm
very glad to hear it.
GREEKS... WHAT A MESS!
Posted by zach06 on 1st of Nov 2011 at 11:16 am
http://www.bloomberg.com/news/2011-10-31/papandreou-says-new-greek-loan-plans-must-be-put-to-referendum.html Lawmakers calling for vote of NO CONFIDENCE!
Title: Good for the Greeks Good
Posted by caddpro123 on 1st of Nov 2011 at 11:41 am
Good for the Greeks. Why in world should any sovereign country place the profits of private foreign banks ahead of the assets of the people of an entire country is beyond me. It is only a matter of time before the countries of the world start to follow Iceland's lead and tell the bankers to take a hike and start putting the crooked politicians working with them in jail. If you apply just an ounce of common sense to the big "banking" picture you quickly realize that the 10 largest banks in the world are literally going from country to country attempting to steal each country's wealth. Add up the total amount the banks claim the "world" owes and one quickly sees it is far more that the wealth of the countries involved could ever have possibly borrowed in a traditional sense. And given this where are the tangible assets/services that these countries allegedly borrowed all this money to buy? Even if every penny was given to the citizens (didn't come close to happening) where are all the goods and services that these trillions would have bought? If your asking a country to repay many times their GNP the logical question to ask is OK where did the money go?
The losses are all on paper (derivatives are a prime example). They were contrived to create paper losses from the outset. This is a simple case of fraud and extortion by the banks. It is pretty much the same small group of banks in every country. The quicker that banks are stopped by simply NOT paying them any more money, the quicker the markets can make adjustments and return to equilibrium. Bear in mind that in essence the world at large is being asked to bankrupt the citizens of entire countries to allow a handful of banks to generate massive profits. My point is that sooner rather than later entire countries are going to go after the banks and the market turmoil that results will be interesting to say the least.
no confidence?
Posted by perthx on 1st of Nov 2011 at 11:27 am
Why should they have any confidence? Isn't the 'easier' way out to basically default and not pay anybody anything? Short sighted? Of course, but the mob wants what the mob wants NOW.
YES WE CAN do it here too, with just four more years! Sorry this should be off topic, huh?
It's not so easy. Greeks
Posted by Vida on 1st of Nov 2011 at 11:45 am
It's not so easy. Greeks are well aware that a default would be extremely painful. Bear in mind that Greece has a primary fiscal deficit which means that it can't even pay pensions, wages, hospitals, schools and basic infrastructure this month without bailout money. Even more severe austerity measures as demanded, however, is like squeezing blood from a stone. The "mob" are real people who are suffering through pension and wage cuts, job losses and mounting taxes. The adage "between a rock and a hard place" accurately describes where the Greek population finds itself today.
And so when they default
Posted by duesy on 1st of Nov 2011 at 11:50 am
And so when they default and the European Union turns their backs to them where do the Greeks think they will find the money to do anything? I would think austerity is better than getting nothing.
Obviously you don't think that
Posted by Vida on 1st of Nov 2011 at 12:01 pm
Obviously you don't think that the EU has less then vested interests in saving Greece. Greece is the lynch pin to a very explosive situation. My point was that austerity measures alone whilst piling on more debt to pay previous debt will not stop the endgame and the Greeks know it. The Greeks would respond more favorably to any sort of coherent policy to address huge structural problems in the economy. But they only see power plays to save the crumbling edifice of the Euro...
Can the Greeks change?
Posted by perthx on 1st of Nov 2011 at 12:09 pm
Can they repudiate the Socialistic policies and wild free spending and big govt that has placed them in this situation? Will they turn on the Union and political machines that have promised the world and delivered by bankrupting the nation?
What's worse is that if allowed to default, the rest of the world will rush in to lend the next govt all it wants to keep the fantasy going in another round of ponzi socialism and fraud.
Oh themou!
Reality of the matter is...We
Posted by jdaswani on 1st of Nov 2011 at 12:14 pm
Reality of the matter is...We really need to Govt to step in to save Italy, Spain & Portugal. We are talking about significant financial catastrophe if we dont step in. Mortgage mess will be peanuts compared to the global impacts. Can you say Global depression with 20% plus unemployment world wide.
The Euro idea is nots
Posted by dylan398 on 1st of Nov 2011 at 01:07 pm
The Euro idea is nots to begin with and we are being told that if we don't keep it together the world will go into depression...popycock.
Just the ruling class getting a bigger stranglehold on society...JMO
And we should bail out Europe why?
Posted by perthx on 1st of Nov 2011 at 12:18 pm
Start with the politicians and union thugs, er bosses. Then throw in the bankers who facilitated this irrational borrowing and spending.
Ebenezer : Are there no prisons?
First Collector : Plenty of prisons.
Ebenezer : And the workhouses - are they still in operation?
First Collector : They are. I wish I could say they were not.
Ebenezer : Oh, from what you said at first I was afraid that something had happened to stop them in their useful course. I'm very glad to hear it.
greek money
Posted by biscuit on 1st of Nov 2011 at 11:52 am
http://www.youtube.com/watch?v=-dIEqFOG-wE