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Greek Banks Get Shut Down For A Week And A ‘Grexit’ Is Now Probable

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posted on Jun, 30 2015 @ 10:53 PM
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originally posted by: AugustusMasonicus

They busted their own kneecap, no one makes you take a loan from a bookie.


So what about the bookies responsibility in providing a bad loan. Why should the bookie expect to get paid when they know there is no means to pay. If you make a sub prime loan that is at your own risk.




posted on Jun, 30 2015 @ 11:03 PM
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a reply to: Isurrender73

The real problem there is a modern society is completely dependent upon those imports for basic survival - no petrol, no electricity, no transport. Basic goods like food and medicine can't be transported, you can't refrigerate food without electricity, plus the majority live in urban areas with no real agriculture prospects, so it's not like they can live off the land - when populations start to starve, very drastic things will happen - with how urban population densities are, and how agriculture production operates, if you cut off a countries petroleum supply, you cut off their food supply.



posted on Jul, 1 2015 @ 06:22 AM
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originally posted by: kwakakev

So what about the bookies responsibility in providing a bad loan. Why should the bookie expect to get paid when they know there is no means to pay. If you make a sub prime loan that is at your own risk.


Did the Greeks get a sub-prime loan? Also, last time I looked bookies were not really in favor of debt forgiveness or negotiation.

Frankly, you are rather naïve, as you come across making it sound like the happy little Greek's had no clue their economic, social and governmental choices were unsustainable.



posted on Jul, 1 2015 @ 07:58 AM
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a reply to: AugustusMasonicus

And you sound naive as well thinking that is just all about Greece and there reckless government. There are many reasons why things are not adding up as they should. The IMF has had its part to play in failed economies and resource takeovers.

If Greece should fall and burn it will just be one of many under the current macroeconomic policy.



posted on Jul, 1 2015 @ 08:03 AM
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originally posted by: kwakakev
The IMF has had its part to play in failed economies and resource takeovers.


When did the IMF first get involved? How did they influence Greece's policies over the past several decades of decadence?



posted on Jul, 1 2015 @ 09:15 AM
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a reply to: AugustusMasonicus

If you are a nation like Greece the only option for a loan has been an institution like the IMF. Countries like the US can just print more money for their decadent lifestyle but since Greece joined the EU it have to give up its printing press with Germany now leading the influence over the printing press for Greece.

This is why China has recently started up its own regional development bank, because they can see how loop sided and biased the terms of IMF loans have been. For what ever reasons Greece is in financial trouble, why must excessive interest rates still be applied to risk losing it all? In this day and age of money being based on debt, just where is the line between exploitation and fair trade?



posted on Jul, 1 2015 @ 04:26 PM
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a reply to: AugustusMasonicus

Why is it ok for organisations like Goldman Sachs to get interest free loans with money pulled out of thin air at the slightest hint that they are in financial trouble, but other organisations like Greece are forced to burden massive and uncontrollable interest policies that go on for generations and privatise any natural resources?

Too big to fail, only if there is a money printing press in the local vicinity.



posted on Jul, 1 2015 @ 04:28 PM
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originally posted by: kwakakev
If you are a nation like Greece the only option for a loan has been an institution like the IMF. Countries like the US can just print more money for their decadent lifestyle but since Greece joined the EU it have to give up its printing press with Germany now leading the influence over the printing press for Greece.


Greece was screwed whether it joined the European Union or not, their debt to GDP ratio is awful.



posted on Jul, 1 2015 @ 04:29 PM
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originally posted by: kwakakev
Why is it ok for organisations like Goldman Sachs to get interest free loans with money pulled out of thin air at the slightest hint that they are in financial trouble, but other organisations like Greece are forced to burden massive and uncontrollable interest policies that go on for generations and privatise any natural resources?


My opinion has long been the interest rates are too low but that is irrelevant as, once again, no one twisted Greece's arm to take these loans out.



posted on Jul, 1 2015 @ 04:37 PM
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a reply to: kwakakev




Why is it ok for organisations like Goldman Sachs to get interest free loans with money pulled out of thin air at the slightest hint that they are in financial trouble,


Because like JP Morgan they are untouchable, they do the dirty work of the US government in propping up the US dollar and suppressing the price of gold.



posted on Jul, 1 2015 @ 04:53 PM
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I am not up to speed on all the loans, terms and conditions. Sure there are many reasons for the collective mess Greece is in with incompetence and corruption all adding to the burden. I know there was a lot of arm twisting going on in the background when setting up the EU and the is a lot of arm twisting going on now.

In hearing stories of what my grandparents went through in the depression I am more focused on avoiding a similar situation.



posted on Jul, 1 2015 @ 04:59 PM
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originally posted by: kwakakev
I know there was a lot of arm twisting going on in the background when setting up the EU and the is a lot of arm twisting going on now.


No one twisted Greece's arm to join, the petitioned of their own volition and was a member of the precursor group to the European Union as well.



posted on Jul, 5 2015 @ 06:12 AM
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a reply to: AugustusMasonicus

I can see one benefit in the policy of interest has been to increase the monetary supply. Without any restraint to this growth, the effect on the economy is like redlining a car engine as you continue to feed more fuel beyond its capacity. I do consider a strong economy one that is stable, secure and sustainable.

The troubles with Greece is only one of the signs of the stresses going through the global economic engine as there are many other countries ready and waiting. I wish Greece, its people and the world well as the people of Greece decide on their referendum today.



posted on Jul, 5 2015 @ 01:08 PM
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originally posted by: kwakakev
I can see one benefit in the policy of interest has been to increase the monetary supply.


Increase in currency is not necessarily a bad thing. There are many factors that play into whether an increase in available currency will be beneficial or not including velocity of money, short/long term rates (inverse curves), credit quality, government/private sector spending, international capital movement of funds and exchange rates. You need to analyze what Greece has done with these and other influencers on currency and you will see the overall result of fiscal policy decisions.



posted on Jul, 5 2015 @ 01:47 PM
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a reply to: AugustusMasonicus

I understand that macroeconomic policy is immensely complex. The basic principles are be it a nation or an individual are pretty similar. Pay the bills and the lights stay on.

The whole competitive nature of money is great for industry and competition. For governments running hospitals, schools and keeping the roads up there are other motivations and priorities rather than purely financial ones.



posted on Jul, 5 2015 @ 02:20 PM
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originally posted by: kwakakev
For governments running hospitals, schools and keeping the roads up there are other motivations and priorities rather than purely financial ones.


All of the factors I mentioned above contribute to these as well and are essential to generate the funds required to support the initiatives you posted.



posted on Jul, 5 2015 @ 02:23 PM
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originally posted by: kwakakev
a reply to: AugustusMasonicus

Why is it ok for organisations like Goldman Sachs to get interest free loans with money pulled out of thin air at the slightest hint that they are in financial trouble, but other organisations like Greece are forced to burden massive and uncontrollable interest policies that go on for generations and privatise any natural resources?

Too big to fail, only if there is a money printing press in the local vicinity.


Because Goldman Sachs has a good credit rating. Greece bonds are in junk investment territory, they are a very high risk investment and with high risk comes high interest.



posted on Jul, 5 2015 @ 02:54 PM
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a reply to: AugustusMasonicus

At the crux of one problem is just how funds are generated. The rise of bitcoin is one example of how money does not have to be about gold, oil, bonds, slaves or any other assets but is really all about trust.



posted on Jul, 5 2015 @ 02:57 PM
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originally posted by: kwakakev
At the crux of one problem is just how funds are generated. The rise of bitcoin is one example of how money does not have to be about gold, oil, bonds, slaves or any other assets but is really all about trust.


And you think all of the factors I pointed out will not influence Bitcoins? Money is money whether it is colored rocks or it takes some unbacked electronic form.



posted on Jul, 5 2015 @ 03:13 PM
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E. U. tried to form a group.....God luv 'em....they had debt problems but said go for it anyway......
now their shot because the debt didn't stay below 3%......it's hugeous really
edit on 5-7-2015 by GBP/JPY because: our new King.....He comes right after a nicely done fake one



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