Viewing 13 posts - 1 through 13 (of 13 total)
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  • #40967
    Malgus
    Malgus
    Survivalist
    member8

    Welp…

    Greece went insane today. Full Derp. And it’s darkly funny, in a the way a hangman having a “Have a Nice Day” smiley button on his hood is darkly funny…

    If you take from this that they took $20 out of one pocket and put it in the other, and by doing so claimed to have “paid” the $20, you’re right. Yes, we’re into the realm of the insane my friends….

    You never go Full Retard.

    Read the article:

    http://market-ticker.org/akcs-www?post=230126

    The wicked flee when none pursueth..." - Proverbs 28:1

    #40972
    Profile photo of sledjockey
    sledjockey
    Bushcrafter
    member8

    This surprises you? Since the world left the gold standard and went to the imaginary fairytale money standard there has been NO fiscal responsibility as a whole…. Spend, spend, borrow, spend, borrow, STEAL from their subjects, borrow, spend, spend, spend… Repeat.

    http://ageofdecadence.com

    #40975
    Profile photo of MountainBiker
    MountainBiker
    Survivalist
    member10

    What’s insane is not that Greece did it the way they did but rather that their creditors accept that as having made a payment. The alternative however is that they’d have to admit that Greece is insolvent, and that in turn entails them recognizing the bad loans on their books. Something I read a few years back during the worst of the foreclosure mess was that the big banks were selling loans that were in arrears to their subsidiaries so as to avoid recognizing the bad debt. It is no longer in arrears to them after they sell it, and then when it is reaching the point of having to recognize it as bad debt at the subsidiary, then it gets sold back to the parent bank to start the counting all over again. And the regulators let them play these games, otherwise known as cooking the books.

    #40977
    Profile photo of sledjockey
    sledjockey
    Bushcrafter
    member8

    You are just reiterating what I was getting at…. NO fiscal responsibility.

    http://ageofdecadence.com

    #40989
    Robin
    Robin
    Survivalist
    member8

    US did almost the same thing with “QE.”
    Robin

    #40992
    Profile photo of Roadracer
    Roadracer
    Survivalist
    member7

    Now that you only need a computer terminal to make money appear out of thin air, why worry. Spend what you want on what you want. In this entitlement world, everyone thinks they deserve whatever.

    Greece is the beginning, next comes Spain, Italy and Ireland. Before long even the Federal Reserve’s computers won’t be able to keep up.

    #40993
    Robin
    Robin
    Survivalist
    member8

    The first weak link was Iceland back in 2008. Their bankers had the entire Icelandic economy up for sale. When it imploded that started the Great Recession in 2008. US banks and then others hit panic button and started failing.
    Robin

    #40999
    Profile photo of WhiteKnight
    WhiteKnight
    Survivalist
    rprepper

    I saw this on ZeroHedge yesterday. Full Retard indeed! This is only possible in a world without any semblance of sanity, which is where we live.

    #41001
    Malgus
    Malgus
    Survivalist
    member8

    The first weak link was Iceland back in 2008. Their bankers had the entire Icelandic economy up for sale. When it imploded that started the Great Recession in 2008. US banks and then others hit panic button and started failing.
    Robin

    The Icelanders did the only sane thing… everyone else is losing their minds…

    Their government tried that “Hey, the banks made some poor decisions so we have to take your money to bail them out” schtick, and the Icelanders stepped up and said not only “No!”, but “HELL No!”… they let them fail, which is what you’re supposed to do in a free market. Let them go down and hold the ones in charge responsible. The good and the competent stay, the bad go down.

    They let the banksters fail, and then fired their entire government. Replaced them during the next election.

    Good for them, says I!

    The wicked flee when none pursueth..." - Proverbs 28:1

    #41003
    Profile photo of 74
    74
    Survivalist
    rnews

    “Now that you only need a computer terminal to make money appear out of thin air, – ”

    I missed this video and since I could use some more capital could you post a link?

    #41024
    Profile photo of WhiteKnight
    WhiteKnight
    Survivalist
    rprepper

    Malgus, totally agree. Icelanders are held in high regard in my book!

    #41030
    Profile photo of freedom
    freedom
    Survivalist
    rnews

    The IMF knows that they need to keep Greece from default any way they can. If Greece defaults then we will see a dominoes of countries defaulting on there debt too. Spain, Ireland, Italy, and Portugal are net in line. If this happens the world economies will collapse.

    We are buying time!!! Collapse is coming.

    #41055
    Profile photo of WhiteKnight
    WhiteKnight
    Survivalist
    rprepper

    Yep!

    Greece is the biggest potential trigger point in my eyes. That may change. They might just bail it out yet again… but even in that case, other countries are going to want the same treatment. Spain and the like will hold out their hands for massive free money. This will cause resentment and a further weakening of the EU. And that’s the best case scenario from all of this.

    Meanwhile, Putin is now courting Greece, which is handing Greece both leverage and a potential avenue of escape from the EU. Make no mistake, despite being dragged out for a painfully long period of time, this is a drama to watch and watch closely.

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