riots in GREECE , happening now

[ralph]

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[RaisinCain]

And yet even with all of this "austerity", they are merely kicking the can down the road.

Honestly I don't believe this world has seen a real statesman since Reagan; they are all a bunch of CYA let-my-successor-handle-it yes men. Not an intellectual in the bunch.

[planosteve]

What we're seeing in Greece is the end result of centralized banking and fiat money. We will see the same thing here only worse because we are Greece on steroids when it comes to debt.

[GFB]

What we're seeing in Greece is the end result of centralized banking and fiat money. We will see the same thing here only worse because we are Greece on steroids when it comes to debt.

Greece's yearly deficit is 180 % of their GDP.

Our's is less than 3%.

Apples and Brontosauruses.

[ralph]

debt perhaps and certainly millions more people in the USA if it ever happens here . I suppose that these riots are only happening in the large population centers in Greece .

[GFB]

..and Greece's problem..besides being a nation of freeloaders..is that they HAVE no central bank.

[planosteve]

What we're seeing in Greece is the end result of centralized banking and fiat money. We will see the same thing here only worse because we are Greece on steroids when it comes to debt.

Greece's yearly deficit is 180 % of their GDP.

Our's is less than 3%.

Apples and Brontosauruses.

Annual deficits and total debt are two entirely different concepts. Pinapples and Comquats.

[GFB]

What we're seeing in Greece is the end result of centralized banking and fiat money. We will see the same thing here only worse because we are Greece on steroids when it comes to debt.

Greece's yearly deficit is 180 % of their GDP.

Our's is less than 3%.

Apples and Brontosauruses.

Annual deficits and total debt are two entirely different concepts. Pinapples and Comquats.

That's right..but it's the 180% deficit that is got them necessitating the "austerity" they all hate.

[GFB]

There is no way for them to grow out of their debt..because of their deficits.

We have no such problem.

[planosteve]

There is no way for them to grow out of their debt..because of their deficits.

We have no such problem.

The spending was largely borrowed money. Once they quit loaning Greece money the deficit will disappear.

[GFB]

There is no way for them to grow out of their debt..because of their deficits.

We have no such problem.

The spending was largely borrowed money. Once they quit loaning Greece money the deficit will disappear.

They know need the loans to have something for which to even "cut" from.

We do agree that Germany and the IMF should no longer loan them money.

It is throwing good money after bad.

But for Greece, this is a life saver..for a while.

The next loan will demand MORE cuts from the gravy train..until Greece becomes a productive country.

[planosteve]

If banking is a business, no rational banker would lend huge amounts of money to a country which it had no way to pay back. So, why do they do it? Obviously for reasons other than turning a profit. They do it for political control. When someone owes you money, you own them. The interlocking European central banks essentially own the European governments they are suppose to sere just like the FED owns the US banking system and operates with freedom from govt. control.

[GFB]

If banking is a business, no rational banker would lend huge amounts of money to a country which it had no way to pay back. So, why do they do it? Obviously for reasons other than turning a profit. They do it for political control. When someone owes you money, you own them. The interlocking European central banks essentially own the European governments they are suppose to sere just like the FED owns the US banking system and operates with freedom from govt. control.

"if a owe a bank $10,000..the bank owns you.

..if you owe a bank $1 billion dollars..you own the bank."

[ralph]

I agree that it goes both ways but generally the wage slaves are OWNED because they Need cash flow to keep everything they don't really need going . Remove the cash flow from the wage slave for even a couple of months , half a year and that's the END of the wage slave . It got even worse for some wage slaves when both Mom and Dad started working and dreams or curses of a new premium car , boat , bigger house started dancing in their heads . I focus on the wage slave of a few years back before mrobama and pretty much ignore the billionaire . There used to be a couple hundred million wage slaves and maybe 25 billionaires before mrobama when things were normal in the USA .

[GFB]

If banking is a business, no rational banker would lend huge amounts of money to a country which it had no way to pay back. So, why do they do it? Obviously for reasons other than turning a profit. They do it for political control. When someone owes you money, you own them. The interlocking European central banks essentially own the European governments they are suppose to sere just like the FED owns the US banking system and operates with freedom from govt. control.

"if a owe a bank $10,000..the bank owns you.

..if you owe a bank $1 billion dollars..you own the bank."

Let me try that again..

"If you owe a bank $10,000..the bank owns you.

..if you owe a bank $1 billion dollars..you own the bank."