This is the last week-end of the Euro, page 2

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reply posted on 30-5-2010 @ 06:15 AM by Solomons

The reason Greece is in such a pickle is that the corrupt government and whores to the big banks worked in collusion with them to hide and manipulate debt from the books for years, goldman sachs being a biggy. I don't think the eurozone will collapse though, this is the perfect excuse to integrate closer.

reply posted on 30-5-2010 @ 06:39 AM by LieBuster

Originally posted by DangerDeath
When you project the system of "exchange" onto a time line, you get the System of DEBT. It grows out of proportion, in all direction, it doesn't really create the wanted "pyramid" structure, it goes beyond that. TPTB have no idea how things work. They own tons of debt and call it money/power - that is banking. The blown up empty bag which explodes with a very loud bang. The whole global civilization is falling apart.

There is no way out of this trap created by unintelligent elites and their faithful slaves.

Yes we do have a way out.

a few days after the riots break out they will offer us the amro at 50c on the $ well tell them to stick it and they can keep our money, our debt, taxes and police state and we the people will seize the assets of the bankers and corupt politicians.

we owe it to our kids to fight back and to put plant earth back on track and this will not happen if we allow those bent bankers and politicians to tell us what the solution will be to all our probloms.

like it or not, one way or another we are all going to be spending much more time farming the land due to the price of oil and once we secure local food supplies and roofs over our heads on a local scale we can deal with the bankers on a global scale.

i'm a capitalist and can see we need to go backwards before we can go forwards and hope i live to see the day when the worm turns.

reply posted on 30-5-2010 @ 07:00 AM by ukWolf

On the thread with the comedy 3min video, there is a diagram of whom owes what amount to whom, can any one briefly say how the UK is owed the amounts stated, or maybe point me in the direction of where I might find this information. Many thanks in anticipation of any replies.

edit to add - its the sources of the loans that interest me

[edit on 30-5-2010 by ukWolf]

reply posted on 30-5-2010 @ 08:03 AM by Mdv2

reply to post by Dynamitrios

The blog post you mention is very interesting indeed. Yet, it changes nothing about the fact that consecutive Greek governments failed to implement a strong fiscal policy, lived beyond their means and hence, Greece and Greece alone bears responsibility for this crisis. Although banks might have played a role in the eventual downfall, it was Greek officials on various levels that made this corruption possible.

Without the Euro, Greece wouldn't have been able to pay off their debts. Greece's credit rating: BB+ (junk status) caused interest rates to soar to levels of 18% on two years government bonds. Without the aid of the EU and the IMF, Greece would be bankrupt.

First of all, it makes sense that Greece is made (by the EU) to pay an interest rate higher (5%) than that interest rate that countries such as Germany are actually charged (just above 3%). If we wouldn't punish Greece, other countries would not feel an urgency to get their finances in order, because the EU would bail them out at a very small price anyway. Personally, I think that 5% is a very reasonable rate, considering that the long-term rate for Greek Eurobonds is a staggering 7.83%.

You should be happy that the EU has bailed Greece out, without the aid package, Greece would be in a situation incomparable to the current situation. Like I said, I really doubt that Greece is capable to repay the billions of debts and that's exactly why countries like Germany and my own don't benefit at all from this construction.

As a consequence of the Greek disaster, we now have billions of debts more and all political parties are urging that budget cuts need to be made during the next term (it's election time).

Although Greece is only part of a bigger problem, Greeks can blame no one but their own governments. Saying that we (other Eurocountries) profit from the Greek mess is simply ridiculous. Claiming that it is unfair that we charge a higher interest rate than we get, but lower than the rate that Greece itself is charged, is even more ridiculous.

This brings us to my original point: the strong economies of Europe would have probably been better off without the Euro. We pay the burden created by the weak links in the chain. If there would not have been an Euro, these weak links would collapse like a card house while the stronger economies would ''merely'' suffer.

Last, I believe that the Greek case (even though they bare sole responsibility) is the beginning of a globalized economic policy and perhaps even with a currency that will replace the Euro and Dollar. That is not per definition bad, but it would give so much power to a select group of people that would be very frightening.

Risk in % of countries unable to repay debts:

[edit on 30-5-2010 by Mdv2]

reply posted on 30-5-2010 @ 08:35 AM by LieBuster

reply to post by Mdv2

Last, I believe that the Greek case (even though they bare sole responsibility) is the beginning of a globalized economic policy and perhaps even with a currency that will replace the Euro and Dollar. That is not per definition bad, but it would give so much power to a select group of people that would be very frightening.

But this is what i think is going to happen and they are crashing the system to make sure it happens and will thow in a war if things don't move in that direction at the speed they want.

you might not agree with me when a say this could happen before the years end but you would be a fool not to had made some plans and to have some supplies but by just incase.

I don't beleive the graph that has the UK at only 6% when we are in as much debt as greece in terms of GDP and lets face it the ratings agencies have been shown to be totaly useless.

[edit on 30-5-2010 by LieBuster]

reply posted on 30-5-2010 @ 08:45 AM by Mdv2

Originally posted by LieBuster

But this is what i think is going to happen and they are crashing the system to make sure it happens and will thow in a war if things don't move in that direction at the speed they want.

you might not agree with me when a say this could happen before the years end but you would be a fool not to had made some plans and to have some supplies but by just incase.

I wholeheartedly agree with you, but it doesn't change the fact that as a consequence of their own failure, Greece ''presented'' themselves as the perfect guinea pig.

I don't beleive the graph that has the UK at only 6% when we are in as much debt as greece in terms of GDP and lets face it the ratings agencies have been shown to be totaly useless.

True. The UK and the US are not better off and credit ratings are far from objective. I merely used this graph to support my claim that it is not unreasonable for the EU to charge Greece with a higher interest rate than most EU countries are charged themselves.

reply posted on 30-5-2010 @ 09:20 AM by DangerDeath

Originally posted by Dynamitrios
reply to post by DangerDeath

I wouldnt call them unintelligent, this is a pretty well thought out con-job, credits where they are due.

Now imagine if they would use their wit to work for the good of humanity, man this place would be a paradise for everything that lives on this planet

Their intelligence comes to reserving places in escape pods.
The very thing with "bailouts" is more than indicative that the system has crashed and it now operates on auxiliary systems (more taxing). But, Titanic is already sinking.

I don't call that intelligence. It is calculus of criminal minds based on hope that they will not be caught.

Right now there is a lot of elbowing among those guys. We shall yet see the fireworks.

reply posted on 30-5-2010 @ 08:03 PM by Wolf321

reply to post by Mdv2

So the lesson to the US in this matter is, despite a weak dollar, never get into a multi-national currency. It may help in one instance and hurt in another. Overall, not worth it. Correct?

reply posted on 30-5-2010 @ 08:15 PM by hawkiye

I would love to see all fiat currencies crash all over the world! I am sick of the looting, wars, and fraud the banksters have perpetrated on the peoples of the world! they need to be hunted down and brought to justice

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