If you listen to Alex Jones' radio show he says that one of the reasons the big banks helped to drive Greece into the toilet was to allow them to buy their hotels, resorts, other assets, etc for pennies on the dollar when they collapse. The banks get bailed out for their losses by the EU and also get billions in prime Greek real estate and other goodies for next to nothing.
It's the "never let a crisis go to waste" theory. Of course, he sees a conspiracy in absolutely everything so who knows.
Just because one doesn’t see conspiracy everywhere doesn’t mean that you’re not still getting taken.
“If you listen to Alex Jones’ radio show he says that one of the reasons the big banks helped to drive Greece into the toilet was to allow them to buy their hotels, resorts, other assets, etc for pennies on the dollar when they collapse. The banks get bailed out for their losses by the EU and also get billions in prime Greek real estate and other goodies for next to nothing.”
That sounds exactly like the USA. Banksters with the help of DC pols drive the economy into the toilet; taxpayers are forced to bail them out; and then they come back in and buy up OUR public assets at yard sale prices using our money. It’s happening all over the USA, just not being reported in a consolidated manner by our media. The Russian oligarchs did the same in Russia.
The Icelanders were the smart ones but they had a right of referendum that we Americans don’t and they were not in the EURO. They told the bankrupt bankers to take their debts and stick them where the sun doesn’t shine. They made it the banks problem not Icelanders. The UK and others (Fed?) ended up covering losses for the banker thieves. Now they are attempting to suck them into the Euro-zone and steal their sovereignty.
Most enter too early, and loose big time - like those buying Greek bonds at 70%, now valued at less than 50%, and likely to get marked down to 20-30% before it is over. One only hears about (and envies) the lucky few who manage to buy at the bottom, and do well = the dirty dogs, not the unlucky many who risk and loose, but serve their part in cushioning a decline. May the saints protect and preserve them, any economic system would instantly fall apart without an abundance of these risk takers.
It is not a rule that assets in a troubled area will be reduced to pennies on the dollar, or recover quickly, and it is a brave soul that picks a spot to commit an investment in a sharply declining market. Sure they rationally expect to win. But they are not to be disdained should they happen to get lucky, and/or choose their entry point wisely, or not. (See MF Global)