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

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!

No, we feel ripped off because OTHERS spent like that and partied like maniacs....

And somehow WE are going to end up paying for it.

Originally posted by GeorgiaGirl

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!

No, we feel ripped off because OTHERS spent like that and partied like maniacs....

And somehow WE are going to end up paying for it.

please elaborate more

reply to post by biggmoneyme


When any debt is "forgiven", someone has to take a loss. Do you really think that the banks are going to take the loss? No, just like in the US, it's going to somehow get foisted onto taxpayers somewhere. Maybe not the taxpayers in Greece, but taxpayers somewhere, maybe elsewhere in the EU. I'm sure these banks will be "bailed out" somehow. And taxpayers take a bath, again.

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

Well what about the 17 year old with a job paying 5.50 an hour who had a choice to make. Have surgery or die? Rack up 17k in hospital bills totally destroying credit that hadn't even gotten off the ground?

I live in Michigan, my last job I had was digging through trash for recyclables for 8 bucks an hour in a huge doorless metal box filled with trash rain or shine, 90 degrees or -20 windshields. Worked there a 2 years, never got a raise because it was through a temp service, and no way to get a promotion.

Sorry but this would be phenomenal for someone like me. I've been following the worlds finances for a good while and seeing it decline. I have no doubts it will get to that level here. And I can't wait for the day to be honest. Its been a long time coming this broken system is removed entirely or reset.

reply to post by cconn487

Well what about the 17 year old with a job paying 5.50 an hour who had a choice to make. Have surgery or die? Rack up 17k in hospital bills totally destroying credit that hadn't even gotten off the ground?

That is one of the (few) situations that I can sympathize with. This is not "lifestyle" debt....it's "life or death" debt. It was not about poor choices and reckless spending.

reply to post by GeorgiaGirl

You don't understand what is going on.
The debt is a contrived one, it is how the economy was allowed to expand, in fact, MADE to expand. The few families in charge of this scheme don't really loan money, they have the monopoly on counterfeit money. All other counterfeit money would get you a prison sentence, but not for them.
Good for Greece. In fact, we ALL should tell the counterfeiters to suck it.
Now, the small, local banks that are not part of the federal reserve system ARE different. Those are your neighbors, and they loaned you REAL money that belongs to someone that expects to get it back. There IS a difference.

Originally posted by Alda1981
Since I am Greek I can verify that there is a law from mrs Katseli where households that are indebted with crazy amounts of money and can't pay anymore have their debts deleted or they pay for some years an amount which allows them to have enough money to survive as well.

Considering the fact that all those banks have already taken their money back from EU packets and since the % they charge extra is worst than loan sharks then I guess it's only fair for this thing to happen.

America has the same laws. It is called personal Bankruptcy. Millions of Americans have benefitted the same way.

Originally posted by SurrealisticPillow
reply to post by GeorgiaGirl

 

You don't understand what is going on.
The debt is a contrived one, it is how the economy was allowed to expand, in fact, MADE to expand. The few families in charge of this scheme don't really loan money, they have the monopoly on counterfeit money. All other counterfeit money would get you a prison sentence, but not for them.
Good for Greece. In fact, we ALL should tell the counterfeiters to suck it.
Now, the small, local banks that are not part of the federal reserve system ARE different. Those are your neighbors, and they loaned you REAL money that belongs to someone that expects to get it back. There IS a difference.

I'll be honest....and admit that it is certainly possible that I am not up to par on the ins and outs of what is happening in Greece, especially as to how their banking system is run.

That being said--do you really think that the Greek citizens who have lived the high life should have the slate wiped clean like that? REGARDLESS of any crookedness in their banking system--suddenly their debts are gone? Where's the personal responsibility?

Originally posted by GeorgiaGirl
reply to post by cconn487

 

Well what about the 17 year old with a job paying 5.50 an hour who had a choice to make. Have surgery or die? Rack up 17k in hospital bills totally destroying credit that hadn't even gotten off the ground?

That is one of the (few) situations that I can sympathize with. This is not "lifestyle" debt....it's "life or death" debt. It was not about poor choices and reckless spending.

thanks for the understanding hehe. yeah i'm with you though looking at what some people think they need to survive.

reply to post by GeorgiaGirl

Personal responsibility means you are responsible for your own actions. Some people have been led to believe that they should allow themselves to be enslaved simply because they took out an unfortunate loan.
I say, let the lender beware. If you have REAL money to lend, wouldn't you be careful about the character of the person you loan it to? Of course you would, But, when it is not REAL money, then the lender doesn't really lose, because they were getting interest paid on FAKE money that they loaned. Sure, they will try to intimidate the people, and the governments that are in their pocket that are paid AS WELL by this interest will intimidate the people as well.
This is all about economic slavery and a system built upon debt.
For example, to make the economy expand, they create a bubble through various means. They make home ownership TOO affordable, and then allow you to borrow "money" on the appreciation of your home. Sure, you don't have to do this, but THAT is how the economy is BUILT! You play the game or you don't. But, when it FAILS, why should you care? You didn't create the system, so don't be a slave to it.
The truth is, fake money could be created by our OWN government, not some fraudster bankers, and their would be NO INTEREST, the debts could easily be repaid, and you and I would really have a reason to blame people for not paying US back.

Originally posted by PurpleDog UK
This story .IF TRUE........ really pisses me Off

Because.............

I have been sensible and careful with the money i have.........

I have NOT borrowed excessively or put myself in DEBT but if all thats going to happen is that those whom can't control themselves today or over the past decade get REWARDED by having their debt (and Responsibilities) written off then that is just UNFAIR on people like me......

I will be very annoyed and angry if true..

PDUK

being angry isnt going to really accomplish anything? and congrats on being part of the 1% of people who dont have debt.

reply to post by Asktheanimals



This thread however is about personal debt if it's about the linked story. A person who borrowed more than they can pay back who is gainfully employed. It's about the equivalent of filing personal bankruptcy. I'm not sure how it equates to the debt Greece has run up? I don't see one being related to the other. Even the thread title does not match the story its based on?

reply to post by THE_PROFESSIONAL

Could we see something similar in the USA?

Nope, because all the world's bankers live in this country or most do and the only real banker that owns the entire world is Rothchild. People here are too afraid to lose their lifestyles to risk defaulting and ending up a 3rd world country.

Crony capitalism is here to stay.

reply to post by GeorgiaGirl

That being said--do you really think that the Greek citizens who have lived the high life should have the slate wiped clean like that? REGARDLESS of any crookedness in their banking system--suddenly their debts are gone? Where's the personal responsibility?

It disappeared with the stroke of a key.

Hey there's nothing wrong with bucking the system but there are consequences to pay, like returning to the barter and trade system of old and in a day and age when people dunno how to make stuff on their own because theyre spoiled by factories, you can see where that heads to.

People in ages passed grew their own food, made their own clothes, some were blacksmiths, others carpenters or furniture makers, some farmers, others hunters and trappers. People then could survive on their own and trade for stuff they needed. Now? If those days return theres gonna be alot of people thatre going to starve to death because humanity has been weakened and spoiled by technology. When the internet goes down, cell phones goes down, video games goes bye bye, no more television no more air condition, it's going to be like living in hell and i am sure many will die from boredom alone.

...But us country folks will survive. We still have alot of those skills that all those Hollywood actors do not, or those bankers on wall street, or government officials. If you can fish and hunt, you will be doing better than someone who is used to working in an office 80 floors up in the air all day.

reply to post by GeorgiaGirl


So you think mortgages are a bad thing? That's a "lifestyle" debt as you said...



You do realize there's this legal thing called bankruptcy.

Since people can't pay back their loans then what should they do? Be thrown in jail or be indentured servants until their master says they payed them back?

You do realize the Greek financial crisis is because of the banks signing the people on to trillions of garbage derivatives? Which then cut Greek pensions in and more and more "austerity measures" to pay back the same banks that KNOWINGLY signed them onto bad bets? You realize the whole thing is one huge scam right?

Originally posted by Asktheanimals
reply to post by nightbringr

 

Here's an article that highlights Goldman Sachs meddling in Greece-
www.nytimes.com...

It's called cooking the books. We can't blame the people for the misdeeds of their politicians.

I understand and agree there, but the mismanagement has run on for many years. While Goldman may have helped them hide things and should be liable as well, Greece and their politicians share the lions share of the blame. They are the ones who sold their own people out. You can't help but feel people must have known things were afoot with the huge welfare state going on.

It's a shame and must be prevented where ever possible, but countries that run themselves into the ground cannot hold the world ransom any more than the welfare recipent who buys the BMW and can't afford to pay it back.

In the end, no one can argue this one point: they need to fix their finances.

Originally posted by PurpleDog UK

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

I understand why you feel this way - but you are just wrong.

Do you know how these people got to take out all this debt that they had little chance of being able to pay off? Somebody loaned it to them recklessly. The banks and businesses that made stupid loans need to get burned so they tighten up when they give out credit - or they need to go out of business.

Having the threat of bankruptcy will force them to be responsible, will limit the amount of money loaned out and will keep prices lower - It's supply and demand.

The only reason houses went up over 100% in price in the 2000's was loans were way to easy for anyone to get causing demand that should not have existed which caused prices to skyrocket. If you are responsible and you want others to be responsible the best case scenario is for people to only get loans if they truly can pay it back. It stops asset bubbles from occurring and makes the economy more stable.

I understand you are pissed these people got to live above their standard of living when they didn't deserve it. I am somewhat too - but discharging of debt is exactly what needs to happen before our economy has any chance of recovery. That goes for every level of debt, personal, corporate, state, and sovereign. It is going to happen whether anyone likes it or not, because there is far more debt at every level than can ever be paid back.

It's going to be extremely painful, but it is unavoidable. By the way anyone that thinks housing is close to bottoming - think again, it is going to fall much further, the worst is definitely yet to come.

Good for Greece!

I find it hillarious that some people here are upset about this and I hope they simmer and stew in their hate until they pass out. Just pat yourself on the head for being a good slave and get over it.

Banks and unfair practices can ruin a nation just as effectively as war. The bankers are domestic terrorists as far as I'm concerned and I do not weep a single tear for them.

reply to post by Urantia1111


I disagree, in part we voted those congress men into office to represent us and to make them decisions which put us where we are so we owe money then!

op
So a country tells banks to forget it, so what happens when the next time someone wants to loan some money? What say you how the banks are going to respond to a county who allows its citizens to fall back on agreements? Maybe they will fix their corrupt behaviors or just wont do business there?

All the banks in the world have been paid off by the US federal reserve for the next 100 years, no one on the planet owes the banks a dime