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Greece Warns of Going Broke as Tax Proceeds Dry Up

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posted on Jun, 6 2012 @ 11:26 PM
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Greece Warns of Going Broke as Tax Proceeds Dry Up


finance.yahoo.com

ATHENS — As European leaders grapple with how to preserve their monetary union, Greece is rapidly running out of money.

Government coffers could be empty as soon as July, shortly after this month’s pivotal elections. In the worst case, Athens might have to temporarily stop paying for salaries and pensions, along with imports of fuel, food and pharmaceuticals.

Officials, scrambling for solutions, have considered dipping into funds that are supposed to be for Greece’s troubled banks. Some are even suggesting doling out i.o.u.’s.

Greek leaders said that despite their latest bailo
(visit the link for the full news article)




posted on Jun, 6 2012 @ 11:26 PM
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Well, it appears that the end of July might be the big slide for Greece. Funny, they are talking about IOU's, isn't that what fiat currency is?

It's kind of funny as well that the birthplace of democracy might be the undoing of the EU fascist state of unelected bureaucrats and petty despots in $5,000 suits. Is this where we say "Go Spartans, Go!" Personally, I don't see why they just don't turf the IMF out the proverbial door and start using drachma's again. They did ok in the past and they could adjust their currency up or down to bring in the tourism and industry, as it should be for any nation. Oh well, let's see how this plays out ;-)

Cheers - Dave

finance.yahoo.com
(visit the link for the full news article)
edit on 6/6.2012 by bobs_uruncle because: (no reason given)



posted on Jun, 6 2012 @ 11:43 PM
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personally id sent a check to every Greek Citizen,, who can answer a skill testing question ,,on Greek History,,

answer the question,,,correctly,,
win the money ,, GREEK LOTTORY


ya,,,

then run,,,



meet back in 10 years,,

ohh sorry ya give it too the banks,,,,



posted on Jun, 6 2012 @ 11:45 PM
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reply to post by bobs_uruncle
 


issue the cheques in drachma's


brilliant u are,, so it seems it would



posted on Jun, 6 2012 @ 11:52 PM
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reply to post by BobAthome
 


And all the lottery cheques can be drawn on either the bank of nigeria or the bank of zimbabwe? That might work, if they keep passing enough worthless paper back and forth it might actually be seen as real currency. Oh wait, that's already happening LOL.

Cheers - Dave
edit on 6/6.2012 by bobs_uruncle because: (no reason given)



posted on Jun, 7 2012 @ 12:30 AM
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Funny you are,but the situation is fraught with perils for international trade.....
This is the one that wil likely set the pattern for Spain....and Portugal....and Ireland.....and a host of eastern european countries......
I see some very huge consequences for many people who are basically innocent.
hard working, God fearing people who are about to loose everything they ever had......
Time to get back to reality ......come down from the expectations that the banks WILL be paid, because there isnt ehough money in the world.



posted on Jun, 7 2012 @ 12:49 AM
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Perhaps the Greeks should read up on the history of the Wiemar republic, where a loaf cost a wad of 20,000,000 marks. They might find a way to get out of the government made mess.



posted on Jun, 7 2012 @ 02:11 AM
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Maybe Greece should print up its own money backed by gold and say the hell to the fiat euro created by the criminals.



posted on Jun, 7 2012 @ 02:16 AM
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why dont they just take the E.U money in Drachma's?
u know i'll take that in Drachma's our new Fiet Currancy,,u do the conversion,,E.U,,


then,, put their Drachma's on the World exchange,, and see if they made a good deal,,,


its called high finance,,,simple.

use their gold,, no.
edit on 7-6-2012 by BobAthome because: (no reason given)



posted on Jun, 7 2012 @ 02:53 AM
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How long are the stronger nations of europe going to allow this drag on their progress?
the Euro's only as strong as its weakest member, it needs to disconnect from this state and allow it to collapse hoping something peaceful, positive and prosperous emerges.



posted on Jun, 7 2012 @ 11:54 AM
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Originally posted by THE_PROFESSIONAL
Maybe Greece should print up its own money backed by gold and say the hell to the fiat euro created by the criminals.


Uhm what you are recommending is in fact fiat money

lol



posted on Jun, 7 2012 @ 01:04 PM
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yea, its a real knock out drag out on Greek TV....

edit on 7-6-2012 by 1BornPatriot because: (no reason given)



posted on Jun, 7 2012 @ 02:14 PM
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Originally posted by THE_PROFESSIONAL
Maybe Greece should print up its own money backed by gold and say the hell to the fiat euro created by the criminals.


If I was in charge that would be plan, along with an investigation into who committed the treason(s) that put Greece into the state it is today. I wouldn't really care if they were politicians or international bankers, try them in court and if guilty, well, you know where that goes. Of course, I am just a permanent solution kind of guy, my CO in CI used to joke about that ;-)

Cheers - Dave



posted on Jun, 7 2012 @ 02:18 PM
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Originally posted by HunkaHunka

Originally posted by THE_PROFESSIONAL
Maybe Greece should print up its own money backed by gold and say the hell to the fiat euro created by the criminals.


Uhm what you are recommending is in fact fiat money

lol


not really what we have now, which is backed by nothing. the world is leveraged at almost 1000 trillion dollars, you saying that's backed by gold?



posted on Jun, 7 2012 @ 02:31 PM
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Originally posted by pikestaff
Perhaps the Greeks should read up on the history of the Wiemar republic, where a loaf cost a wad of 20,000,000 marks. They might find a way to get out of the government made mess.

We don not need to; we had our own inflations at various times in history, where a loaf of bread would cost that much. We are well aware what inflation does. Before we entered the Euro we were already printing 10.000 Drachmas bills. So, we are well acquainted with inflation.



posted on Jun, 7 2012 @ 03:11 PM
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Do understant that Greece right now has NO govt.

It has only an unelected caretaker gov in charge.

When the People's elected representatives are in charge, change will come, HAVE to come.

I only plead that no violence be used, but instead brains.

It still have shipping and tourism tax receipts to depend on the short term, and can be improved upon by the new govt. Rather than to depend on higher taxes from the little, they should go for the QUANTITY by reducing taxes to welcome investments, investors, shipping and tourists and ensure safety for all.

It will take a far longer time for tax evaders to be apprended, so rather than to kill ( figuratively ) them at one go by forcing them into a corner to pay up, allow them to pay slightly lesser taxes and time and full immunity for past transgressions, espacially to those whom are in manufacturing and services which are critical to the nation and can create jobs.

At the same time, work on the economic strengths of the nation - shipping, tourism, agriculture, to provide jobs and revenue, with foreign investors but on short term contracts, to bring in needed revenue.

Most critical of all - the country needs a leader all can rally to, with real promises and not false ones of the past. Humankind can live with the truth but never lies. Be honest and upfront, if there is a need to reduce wages and pensions temporarily.

They can accept it as long as they can see hope and a future. And there will be hope and future, for mankind still have needs to be met and serviced and will pay for it as long as it is of quality and value.

Just screw the EU and let them do what they want, if they wish to be inhuman and lose their moral conscience over debt repayments. They can sue those whom had sign on the dotted line for all they want, while the greek people gets on with their lives to work hard towards a better future...with hope.

Good luck.



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