Greece wipes out Citizens Debt!! Tells Bankers to suck it

page: 2
78
<< 1    3  4  5 >>

log in

join

posted on Jan, 31 2012 @ 12:03 PM
link   
reply to post by PurpleDog UK
 


And it makes me happy that the mass murderers of the Western empire are being bankrupted even more.




posted on Jan, 31 2012 @ 12:09 PM
link   
reply to post by PurpleDog UK
 


I'm all for good financial stewardship but we shouldn't forget the poor less educated ones that have been subject to predatory practices. These people have been told sure you can afford a home by banks. Then when they default the banks swoop in for the kill.



posted on Jan, 31 2012 @ 12:20 PM
link   
reply to post by micmerci
 


I do feel for people that find their homes in negative equity, however IMO these people are behaving just like the bondholders that "can't" be burned. The majority of the western world uses the capitalist system, you take your chances (risk) sometimes you win and sometimes you lose. Why does it become everyone elses problem if you lose?? I have no one but myself to blame for bad financial choices and no one but me should have to carry that burden.



posted on Jan, 31 2012 @ 12:55 PM
link   
reply to post by PurpleDog UK
 


You're right, my husband and I both had previous marriages with spendthrifts. He had to rebuild his credit back up from below zero.

We watch our money carefully and have very little debt. It isn't fair to people like us, but in some ways, it seems fair that people that were told, "yeah, you can afford this" that were lied to and taken advantage of should be able to stick it to the liars.

Cause when I bought my first house, the lender was very careful to look at lots of documentation on my income and employment history and was also pretty clear that my housing costs should not go above a certain percentage so I would be able to afford it.

What really should be happening, IMHO, is that the people that allowed this stuff to happen, should be going to jail, and have THEIR assets stripped to pay back the people they STOLE from.

I just saw today on the news (in the little scroll-y thing st the bottom where the NEWS is hidden) that they are saying that all the money that was "lost" in the MF Global debacle, may never be "found"! WTF???!!!

If you and I scammed a bunch of people out of their money, what would be happening to us right now?



posted on Jan, 31 2012 @ 01:05 PM
link   

Originally posted by PurpleDog UK

Originally posted by micmerci
reply to post by PurpleDog UK
 


Why be pissed? How is someone receiving a forgiveness a harm to you. It does not affect you at all. This is the same attitude as the brother of the prodigal son.


Pissed because I have gone without whilst others have had it all and more and not worried about how to pay for any of it ??

They have lived without care and People like me have done without because we see and understand responsibility and values.......

Cancelling debts is rewarding blind stupidity and ignorance.....neither of which make for a society worth living or being part of .......

PDUK


Exactly. I feel the same way. I'd LOVE to live without care and spend, spend, spend. But I don't, because I only buy what I can pay for. I see everyone around me going on several vacations a year...Disney, cruises, the beach....but we rarely go anywhere, because it is so expensive.

Yet I don't mind NOT buying those things, or NOT going on vacations, because we are NOT in debt! I don't mind giving things up to be able to afford my lifestyle and not racking up debt.

So it would be extremely frustrating to me that those who have made bad decisions would be rewarded with debt forgiveness.



posted on Jan, 31 2012 @ 01:06 PM
link   
With this little Greek Tradegy lies the BIGGER and more serious problem........

As 'High Maintenance' said...
....... Why should they have their debts cleared and KEEP their ill gotten Booty !! acquired from Profligate spending and wanton abandon of responsibility........

On a bigger stage...does the western Society need to be Re-Booted and everything shared out equally across the masses waiting for the next Capitalist society to form.....

It's a real problem that our Governments and decision makers realise BUT are content to just ''kick the can'' down the road a little further....!!

It was nice to see Sir Fred Goodwin......oops Mr Fred Goodwin ...STRIPPED of his Knighthood after the 'dis-service' he cause RBS BUT then IMHO that is a sign that he was guilty of more reckless behaviour and therefore should FORFEIT his HUGE pension as well.....!!!

The problem does not just stop there though............ Remember EASYJET and Stelious... His family own 38% share of the EASYJET company and even he is now protesting about the board of 10 or so whom have ''AWARDED'' themselves over £180 MILLION pounds in the past 10 years ...... FFS it is taking the piss and it is this attitude that is Corrupt across the Capitalist society WHICH HAS TO STOP........

Wether it is someone who cant pay their debts or some Top director 'CREAMING' the pot of cash........... they are BOTH MORALLY wrong and it is about time we had a revoution of RESPONSIBILITY to ourselves and our Society in general...

For one

I have had enough of all of it !!!


PDUK



posted on Jan, 31 2012 @ 01:12 PM
link   

Originally posted by HighMaintenance
reply to post by micmerci
 


I do feel for people that find their homes in negative equity, however IMO these people are behaving just like the bondholders that "can't" be burned. The majority of the western world uses the capitalist system, you take your chances (risk) sometimes you win and sometimes you lose. Why does it become everyone elses problem if you lose?? I have no one but myself to blame for bad financial choices and no one but me should have to carry that burden.



Yep--I agree. We have put more into our home than it is now worth. Luckily we owe less than it is worth, so we don't technically have negative equity, but we have put around $100K into fixing it up, and that money is "gone" right now.

We have done well on houses in the past, and made profits when we sold them. But right now we have to sit tight and wait for the market to rebound (years from now, probably) or just take the hit on the money we invested. At the time, conventional wisdom was that every dollar you spent on your house was well invested. Now, not so much.

But it's no one's problem but ours. I certainly wasn't complaining when we sold houses and made a profit!

Ebb and flow.



posted on Jan, 31 2012 @ 01:13 PM
link   

Originally posted by Nite_wing
I just read every American owes the Government $189,000. I can't pay that. I wonder if a bankruptcy court would wipe out my personal debt to the government?


Where did you read that? I'd be interested to know WHY we owe them money when they're constantly taking money from us.



posted on Jan, 31 2012 @ 01:17 PM
link   
The Bankers showed a tremendous amount of recklessness, how much have they paid back, zero,zilch,nothing
cancel personal debt its the way forward..



posted on Jan, 31 2012 @ 01:21 PM
link   

Originally posted by pilot70

Originally posted by micmerci
reply to post by PurpleDog UK
 


Why be pissed? How is someone receiving a forgiveness a harm to you. It does not affect you at all. This is the same attitude as the brother of the prodigal son.


How about his pension company being the ones going bankrupt because the debt is canceled, and his savings are now lost ? While he saved his money, the other guy borrowed them, and spent them on car's and tv's, now the spender gets off the hook, and the sensible guy has lost his pension.

You can't just cancel debt, you have borrowed someone else's money.

The bank have no money of their own.
edit on 31-1-2012 by pilot70 because: minor grammar issue
edit on 31-1-2012 by pilot70 because: more grammar


apparently if you are Russia, you most certainly can do it



posted on Jan, 31 2012 @ 01:28 PM
link   
reply to post by sezsue
 




He had to rebuild his credit back up from below zero.


Why should you decide your life based on a number that bankers attribute to you? So they can enslave you? I owe 300,000 in debt from professional school and I do not give a rats butt about my credit because it means nothing to me. It is just a number they try to enslave you with. Spend cash backed by gold.



posted on Jan, 31 2012 @ 01:30 PM
link   
This cracks me up.....You all feel ripped off because you didnt get to spend profigatly and party like a maniac.
What is missing that trillions and gazillions, never existed in the first place!
The banks actually lent out ten times the money they really had!
That was the scam!They figured the world would keep going in a steady state and we wuld just keep paying and paying, but never be able to pay it all back because it never existed ...so they effed the system with their greed.
The spenders in the private sector were rolled over by the financial wizards that knew they could parcel all the bad debts up and sell them off as bonds to suckers like the pension fund guys.
Who were part of the bankers in the first place!
Do you see any bankers in the soup lines? DUH!



posted on Jan, 31 2012 @ 01:37 PM
link   

Originally posted by THE_PROFESSIONAL
www.infowars.com...

www.zerohedge.com...




Think filing for bankruptcy is the only way to get debt discharge? Think again, at least in Greece. While previously we have reported that Greek courts had written off "untenable" debts of unemployed Greeks owed to local banks, Kathimerini describes a landmark case which may have profound implications for the indebted country, in which a fully employed woman has had the bulk of her debt written off. From Kathimerini: "In what could turn out to be a significant ruling for Greeks suffering from the economic crisis, a court in Hania, Crete, has become the first in the country to order that the majority of the debt owed to banks by someone still in full employment be wiped out. Sunday’s Kathimerini understands that the Justice of the Peace Court in Hania based its decision on a 2010 law that allows judges to give protection to people struggling to meet their financial commitments. Until now, the legislation has only been used to give debt relief to unemployed people or those with no substantial income." This means that virtually every indebted person in Greece, regardless of employment status will rush into court rooms, demanding equitable treatment and a similar debt write down. It also means that the Greek bank sector, already hopelessly insolvent, is about to see its assets, aka loans issued to consumers, about to be written off entirely. And since the ultimate backstopper of the entire Greek financial system is the ECB, the creeping impairments will have no choice but to impact, very soon, the mark-to-market used by both the ECB and the various national banks. Finally, how long before other courts in Europe express solidarity with their own citizens and proceeds with similar resolutions?


Is this something similar to what we saw in Iceland? The people are revolting against the same banks which put people into debt and enslavement with predatory practices and the usage of usury (lending of money on interest). It is for this reason it is forbidden in all major world religions (usury). Could we see something similar in the USA?


It depends whether their Parliament has the authority to enact legislation overriding the case-law ... if that is the case, and this gets out of hand there, goodbye made-up remedy.



posted on Jan, 31 2012 @ 01:37 PM
link   

Originally posted by stirling
This cracks me up.....You all feel ripped off because you didnt get to spend profigatly and party like a maniac.
What is missing that trillions and gazillions, never existed in the first place!
The banks actually lent out ten times the money they really had!
That was the scam!They figured the world would keep going in a steady state and we wuld just keep paying and paying, but never be able to pay it all back because it never existed ...so they effed the system with their greed.
The spenders in the private sector were rolled over by the financial wizards that knew they could parcel all the bad debts up and sell them off as bonds to suckers like the pension fund guys.
Who were part of the bankers in the first place!
Do you see any bankers in the soup lines? DUH!


You assume that I want to spend RECKLESSLY....

Actually, you are wrong in my case........... I have and never did buy into the Materialistic and Consumer society that most crave to illustrate what shallow lives they lead and whom they are...

I do posses the odd gadget, ones which I feel I needed for my life to function within todays world BUT never anymore......

I do AGREE with you though on your interpretation of the 'invented' money that everyone is now chasing.....I see the exact same situation that you describe...........

The QUESTION is how to recover or resolve this situation............... I think many people need to re-visit their moral compass and 'take a rain check' on the world they currently live in......

Cancelling DEBT does not help AT ALL....

PDUK



posted on Jan, 31 2012 @ 01:38 PM
link   

Originally posted by THE_PROFESSIONAL
reply to post by sezsue
 




He had to rebuild his credit back up from below zero.


Why should you decide your life based on a number that bankers attribute to you? So they can enslave you? I owe 300,000 in debt from professional school and I do not give a rats butt about my credit because it means nothing to me. It is just a number they try to enslave you with. Spend cash backed by gold.


You're right, it's wrong, but in order to get a house, a car, or other things you really need, you have to have fairly decent credit.

Even to get an apartment, you need decent credit. Did you know that now insurance companies can charge you more for your car insurance if you have "bad" credit, even if your driving record is excellent, and you have had no accidents?
I got a job where they automatically checked the credit of every applicant before they made a decision to hire them, hows that for control?

I agree with you, but until the system changes, what else can you do?
edit on 31-1-2012 by sezsue because: (no reason given)



posted on Jan, 31 2012 @ 02:15 PM
link   

Originally posted by THE_PROFESSIONAL
Is this something similar to what we saw in Iceland? The people are revolting against the same banks which put people into debt and enslavement with predatory practices and the usage of usury (lending of money on interest). It is for this reason it is forbidden in all major world religions (usury). Could we see something similar in the USA?


I have to lol when i see people holding up Iceland as an example. Funny thing is, you dont really know what happened with Iceland, do you?

Let me educate. Iceland actually stuck it out. They went down the long, hard road and enacted tough austerity measures and kept to their guns. Fiscal responsibility is what got them out of their mess. If Greece forgives all personal debt to their banks (something highly irresponsible), their economy will collapse for good, and no one should bail them out.

What they have done to get themselves into this mess was irresponsible in the extreme, and other, responsible countries such as Germany should not suffer for thier fiscal mismanagement.



posted on Jan, 31 2012 @ 02:17 PM
link   

Originally posted by sezsue

Originally posted by THE_PROFESSIONAL
reply to post by sezsue
 




He had to rebuild his credit back up from below zero.


Why should you decide your life based on a number that bankers attribute to you? So they can enslave you? I owe 300,000 in debt from professional school and I do not give a rats butt about my credit because it means nothing to me. It is just a number they try to enslave you with. Spend cash backed by gold.


You're right, it's wrong, but in order to get a house, a car, or other things you really need, you have to have fairly decent credit.

Even to get an apartment, you need decent credit. Did you know that now insurance companies can charge you more for your car insurance if you have "bad" credit, even if your driving record is excellent, and you have had no accidents?
I got a job where they automatically checked the credit of every applicant before they made a decision to hire them, hows that for control?

I agree with you, but until the system changes, what else can you do?
edit on 31-1-2012 by sezsue because: (no reason given)


i concur with your statement that credit worthiness is indeed factored into any application for car insurance. the question was recently put to me when answering the usual questions. the questioner asked, "have you ever been turned down for a loan or have you been declared bankrupt in the past 5 years?".
it is seen as a material risk i suppose. careful with the pennies i say.
f



posted on Jan, 31 2012 @ 02:26 PM
link   

Originally posted by LadySkadi
Bold move, if true. Any thoughts on repercussions (positive, negative) both for Greece and on the International scale?


The reprecussions here are obvious. Be setting this precedent, millions of indebted Greeks will run to the courts asking for debt forgiveness.

Now, the thing people here are not seeing is this is not government debt, this is money borrowed by the average citizen to pay for things they personally buy. Why in the world should that debt be forgiven? If you overspend and buy a 50" 3D LED television, and cant afford to pay it back, you deserve to wallow in debt. Fiscal responsibility is a lost art.

Moving on. The first obvious repercussion is a collapse of all Greek banks and lending institutions. As far as i know, these banks dont put a gun to Greeks heads and force them to take out loans they cannot afford, why should they suffer? The next will be the Greek default and likely expulsion from the EU, forcing them to print their own money.

Some people claim this is what they should do, but they cant, can they? Greece has a massive trade deficit, and must use their currency to trade for needed commodities on the world market, as they are not self-sustaining. New banks must be built to replace the ones now destroyed by debt forgiveness. These banks print money, but lo and behold, they must print massive amounts of money each year to pay for their bloated deficit budgets and buy said commodities on the world market. Massive inflation is the obvious outcome. This inflation in turn makes it more and more difficult to afford needed good on the world market, eventually causing a complete and utter destruction of their economy and mass starvation.

Greeces ONLY real option is manning up sticking to the painful austerity measures and balancing their national budget in a very short timeframe. Anything less will be the end of them as a country.
edit on 31-1-2012 by nightbringr because: (no reason given)



posted on Jan, 31 2012 @ 02:27 PM
link   
After all money is just money and no matter where you think the money goes to it eventually finds it's way back into hands. Basically a market is a revolving door.



posted on Jan, 31 2012 @ 02:35 PM
link   

Originally posted by micmerci
reply to post by PurpleDog UK
 


I'm all for good financial stewardship but we shouldn't forget the poor less educated ones that have been subject to predatory practices. These people have been told sure you can afford a home by banks. Then when they default the banks swoop in for the kill.


Sorry. I have absolutely no pity for someone who buys a 2000+ square foot home on the lake all the while making minimum wage. When that same jackass realizes he cannot afford his house, the rest of us will have to pay for it when he gets his debt forgiven.

Say what you want about predatory lending practices, who in their right mind buys a home without doing research? This is the SINGLE MOST IMPORTANT purchase a person will ever make in their life. To me, this is no different than someone on welfare taking out a loan for a $100,000 BMW and then whining when they cant pay it back. Im sorry, morons like that dont deserve to get their money back.

I firmly believe that financial responsibility should be taught in school. People these days have no friggin clue what it means to save before they buy.





new topics
 
78
<< 1    3  4  5 >>

log in

join