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George Soros: 'Greece Can Never Pay Back Its Debt'
Spiegel.de ^ | October 07, 2013 – 04:02 PM | By Gregor Peter Schmitz in Brussels

Posted on 10/07/2013 9:52:31 AM PDT by DeaconBenjamin

Legendary investor George Soros called for comprehensive debt relief for Greece. "Everyone knows that it can never pay back its debt." Greece is close to a primary budget surplus after a lot of pain and suffering, says Soros, whose speculation against the pound forced the UK to withdraw from the Exchange Rate Mechanism in 1992.

"If the official sector could forgo repayment as long as Greece meets the conditions imposed by the troika [of the International Monetary Fund (IMF), European Central Bank (ECB) and European Commission]," Soros added, "private capital would return and Greece could rapidly recover. I can testify from personal experience that investors would flock to Greece once the debt overhang is removed."

Greek Prime Minister Antonis Samaras has also recently called for a new round of debt relief for his country. "What is important to me is not to procrastinate too much for a solution," he said. But the German government in particular rejects a writedown of Greek government debt. At most, it wants to discuss lower interest rates and longer loan maturities -- measures that many economists do not regard as being sufficient to solve the problems.

In addition, the German head of the European Stability Mechanism (ESM) permanent bailout fund, Klaus Regling, pointed out that debt write-downs are prohibited under ESM rules. The majority of Greece's debt is now held by public institutions, i.e. the IMF, the ECB and other EU member states. If these debts have to be written off, the cost wil be met by taxypayers.

Soros recognizes this problem: "The official sector cannot write down its debt because that would violate a number of taboos, particularly for the ECB." These issues, however, could be surmounted under German leadership.

(Excerpt) Read more at spiegel.de ...


TOPICS: Business/Economy; Foreign Affairs; Government
KEYWORDS: banksters; debtslaves; detroyingeconomies; godmansachs; nwocabal; planned; vulturedavos

1 posted on 10/07/2013 9:52:31 AM PDT by DeaconBenjamin
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To: DeaconBenjamin

Everyone knows Soros isn’t wearing any clothes (other than sovereign paper).


2 posted on 10/07/2013 9:55:54 AM PDT by palmer (Obama = Carter + affirmative action)
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To: DeaconBenjamin

1. everyone knew this from day one.
2. soros must be making a euro play.


3 posted on 10/07/2013 9:56:20 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: DeaconBenjamin

Hmm
what does the old testiment say about not being able to pay back debt?


4 posted on 10/07/2013 9:56:32 AM PDT by CincyRichieRich (“Life is hard, but it’s harder when you’re stupid.” John Wayne)
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To: DeaconBenjamin

This is one scary SOB. It is a long read but it will help you to understand why certain things are happening with the current administration.Who Is George Soros?

He brought the market down in 2 days.

Here is what (CBS’) Mr. (Steve) Kroft’s research has turned up. Bit of a read, but it took 4months to put it together.

“The main obstacle to a stable and just world order is the United States.?

“George Soros is an evil man. He’s anti-God, anti-family, anti-American, and anti-good.” He killed and robbed his own Jewish people.

What we have in Soros, is a multi-billionaire atheist, with skewed moral values, and a sociopaths lack of conscience. He considers himself to be an elitist world class philosopher, despises the American Way and just loves to do social engineering (change cultures).

http://www.orangepower.com/threads/george-soros-evil.95549/


5 posted on 10/07/2013 9:57:06 AM PDT by PLD
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To: DeaconBenjamin

Nice going. Run up a huge debt and expect others to bail you out. Only in a liberal world. This type of money maging scheme will soon be coming to a U.S. city near you. Did I mention “liberal so suck the big one”


6 posted on 10/07/2013 9:58:15 AM PDT by Captain PJ (Are we there yet?)
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To: DeaconBenjamin

George Soros......what a great guy......always trying to help everyone out......a real humanitarian.....he always gave the Jewish kids a piece of candy before he turned them over to the Nazis.


7 posted on 10/07/2013 9:58:51 AM PDT by blueunicorn6 ("A crack shot and a good dancer")
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To: DeaconBenjamin

Attention Soros,,,,,,anyone with a brain had this figured out from day one.


8 posted on 10/07/2013 9:59:57 AM PDT by rockabyebaby (We are sooooooooooooooooooooooooooooooooo screwed!)
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To: DeaconBenjamin
"private capital would return and Greece could rapidly recover..."

What is this? Soros singing the praise of private capital?
Is he off his meds?

9 posted on 10/07/2013 10:01:12 AM PDT by BitWielder1 (Corporate Profits are better than Government Waste)
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To: DeaconBenjamin

Neither can the United States.


10 posted on 10/07/2013 10:01:12 AM PDT by mulligan
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To: DeaconBenjamin

And neither will we.

Hey Soroshole, get relief for us too, you Obama worshipping bottom feeder.


11 posted on 10/07/2013 10:02:46 AM PDT by Da Coyote
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To: DeaconBenjamin

Can’t we unload all of our worthless debt on $0r0$?


12 posted on 10/07/2013 10:03:08 AM PDT by Paladin2
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To: DeaconBenjamin

Hopefully money doesn’t guarantee longevity and he will assume room temperature son.


13 posted on 10/07/2013 10:04:12 AM PDT by Resolute Conservative
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To: longtermmemmory

The politicians keep pretending that there is a debt plan that is working, that balanced budgets and economic improvements are just around the corner.

The lies are told everywhere in Europe from Greece to Italy to Spain to Germany, France and the UK.


14 posted on 10/07/2013 10:05:56 AM PDT by Nextrush (BALANCED BUDGET NOW, PRESIDENT SARAH PALIN,CHANGE I BELIEVE IN)
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To: DeaconBenjamin

I am all for Soros paying off Greece’s debt. I would think that a man of his wealth has a moral responsibility to the peoples of the world. Matter of fact, we should confiscate his money immediately if not sooner.


15 posted on 10/07/2013 10:05:59 AM PDT by Cyman
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To: DeaconBenjamin

-——’Greece Can Never Pay Back Its Debt’——

Neither can Deeetroit, Illinois,California nor America.

Deetroit is the model for the others


16 posted on 10/07/2013 10:07:39 AM PDT by bert ((K.E. N.P. N.C. +12 ..... Travon... Felony assault and battery hate crime)
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To: DeaconBenjamin

O.K. Soros, YOU pay it back for them! They just have been doing what YOU have advocated HERE!


17 posted on 10/07/2013 10:08:43 AM PDT by ZULU (Impeach that Bastard Barrack Hussein Obama)
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To: PLD

Know thy enemy!

http://www.discoverthenetworks.org/default.asp


18 posted on 10/07/2013 10:09:10 AM PDT by CitizenUSA (Conservatives are not anarchists!)
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To: blueunicorn6

Yup, he’ll end up at the very bottom of Dante’s hell. The Ninth Circle — Treachery.


19 posted on 10/07/2013 10:15:07 AM PDT by dhs12345
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To: CincyRichieRich
what does the old testiment say about not being able to pay back debt?

String along your creditors until Jubilee year?

20 posted on 10/07/2013 10:15:44 AM PDT by Pearls Before Swine
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To: DeaconBenjamin

The debt can be paid by giving Germany a few islands.


21 posted on 10/07/2013 10:21:03 AM PDT by Procyon (Decentralize, degovernmentalize, deregulate, demonopolize, decredentialize, disentitle.)
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To: CitizenUSA

Thank you, I saved this..


22 posted on 10/07/2013 10:24:38 AM PDT by PLD
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To: DeaconBenjamin

Duh!


23 posted on 10/07/2013 10:31:53 AM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: DeaconBenjamin

Alex, I’ll take “The Bleedin’ Obvious” for a thousand...


24 posted on 10/07/2013 10:39:25 AM PDT by Buckeye McFrog
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To: DeaconBenjamin

The hero of every Free Trader Communist....George Soros...wants Greece bailed out.

And...if Obamas Free Trade deal with the EU passes...it will be American tax dollars bailing out Greece....just like the US bailed out Mexico when NAFTA passed in the 90s.

Get ready to bail Greece out....the Dems and the Rove/Soros wing of the GOP will push for it


25 posted on 10/07/2013 10:46:26 AM PDT by SeminoleCounty (Fact Is: GOPe want ObamaCare.)
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To: mulligan; DeaconBenjamin
Neither can the United States.

We could but it would take a couple of highly improbable moves by government.

First the government would have to eliminate thousands of regulations that would free up tons of fettered productivity.

Second the government would have to drastically reduce or eliminate the capital gains taxes. This would increase the investments in productive ventures.

Third reduce or eliminate the corporate income taxes. The US has the highest corporate income taxes in the developed world. Making the US competitive in the industrial world for capital investment would return productive industrial development to the most productive country in the world.

If the Federal government would get out of the way the US could grow its way out of the fiscal hole in to which we have dug ourselves.

More people with jobs would pay more in taxes and reduce the number of entitlement seekers.

26 posted on 10/07/2013 11:00:44 AM PDT by Pontiac (The welfare state must fail because it is contrary to human nature and diminishes the human spirit.)
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To: CincyRichieRich
"what does the old testiment say about not being able to pay back debt?"

Borrowing money knowing that you can't pay it back or not having any intention of paying it back is theft.

27 posted on 10/07/2013 11:02:42 AM PDT by StormEye
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To: DeaconBenjamin

‘Greece Can Never Pay Back Its Debt’
That’s obvious and the idea of the Euro was stupid, because it gave the productive countries the obligation to pay the way for the socialist, backward, fiscally irresponsible basket cases like Greece.


28 posted on 10/07/2013 11:10:50 AM PDT by I want the USA back (Media: completely irresponsible traitors. Complicit in the destruction of our country.)
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To: DeaconBenjamin

Neither can America you Nazi sumbich Kapo.


29 posted on 10/07/2013 11:12:42 AM PDT by LibLieSlayer (FROM MY COLD, DEAD HANDS!)
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To: DeaconBenjamin

Sure, Soros wants the IMF or the European Central Bank (ECB) to bail out Greece, so Greece can pay back what they owe him, which is probably plenty.


30 posted on 10/07/2013 11:20:27 AM PDT by Liberty Wins ( The average lefty is synapse challenged)
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To: Pontiac

You left out abolishing SS/Medicare and a host of other un/extra-Constitutional ‘mandatory’ spending programs. Let alone institute a national sales tax (after abolishing the 16th)...so EVERYONE has skin in the game.

Getting gov’t out of the way of biz does nothing for the taxpayers when gov’t keeps adding to the bill...


31 posted on 10/07/2013 11:59:42 AM PDT by i_robot73 (Give me one example and I will show where gov't is the root of all problems.)
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To: i_robot73
Well if we are going to do away with the IRS I would much prefer a flat tax. A sales tax cost too much to regulate and operate.

A sales tax also makes merchants tax collectors which I consider immoral.

32 posted on 10/07/2013 12:06:46 PM PDT by Pontiac (The welfare state must fail because it is contrary to human nature and diminishes the human spirit.)
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To: DeaconBenjamin

Greece can never pay off it’s debt. But American can?


33 posted on 10/07/2013 1:06:00 PM PDT by VerySadAmerican (".....Barrack, and the horse Mohammed rode in on.")
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To: Pontiac

Flat tax still does not have all citizens skin in the game...a sales tax would (and the mechanism is already in place in most States [45/50 IIRC]). Plus, as it’s a line item on the bill, it’s easy to see what gov’t is costing and requires NO collectors (IRS); biz remits to State, State remit to Fed

I have the same feeling about employers being tax collectors; let alone ‘H.C. providers’.


34 posted on 10/08/2013 5:22:21 AM PDT by i_robot73 (Give me one example and I will show where gov't is the root of all problems.)
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To: i_robot73
I have the same feeling about employers being tax collectors; let alone ‘H.C. providers’.

But you would have every merchant be a tax collector for the Feds and have his books subject to Federal audit.

Surely you realize that if every retail merchant becomes a tax collector for the Federal government the government will be anxious to ensure that they are receiving every dime owed to the government.

I will also tell you that I have know more than one merchant that was convicted by the State of Ohio for failing to remit to the state sales taxes collected by them.

This is not unusual for a merchant that is on his back trying to save his business. They are going broke and have to pay their suppliers or not get shipments of product so they go late on their remittance of tax receipts.

The State is not at all forgiving of this kind of infraction. I certainly do not want to put merchants in this position to the Federal government.

35 posted on 10/08/2013 7:31:49 AM PDT by Pontiac (The welfare state must fail because it is contrary to human nature and diminishes the human spirit.)
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To: DeaconBenjamin

I think what Soros is saying is Greece should not pay back the debt to Germany, and he’ll go in and invest to restore the economy. Sounds like a plan, as long as they don’t get into forever debt to Soros.


36 posted on 10/08/2013 7:35:17 AM PDT by grania
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To: Pontiac

No, as I stated they would be remitted to the State (the Feds are thus removed), as most are already. A sales tax would remove the employers from that role and kill the 16th/IRS. Hell, I’d love to tack on having the debt being divided by all States/territories based on population.

So, biz owner busted for not paying his taxes - the customer sure did, is ‘bad’ how?

How would your path of keeping an income tax be a better plan?


37 posted on 10/08/2013 10:19:38 AM PDT by i_robot73 (Give me one example and I will show where gov't is the root of all problems.)
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To: i_robot73
How would your path of keeping an income tax be a better plan?

First there would be no withholding. Make it a quarterly payment that the individual writes a check to the government.

If people have write a check to the government every four months they will very soon have a reality bomb go off in their head as to what government is costing them.

This would be the least costly way to collect taxes. A One page form to calculate your income. A simple table to calculate the taxes owed. Send in your check and you are done.

The pressure to shrink government and cut taxes would be enormous.

The sales tax does have the advantage of that you can lessen your tax load by not spending money but this is also a loop hole in that you can also avoid taxes by buying black market or second hand goods. There is also bartering for services that can avoid taxes.

The Federal government would seek to suppress these markets or find a way to tax them (the states lately have been trying to do this).

The effect of these efforts suppresses the freedom of the market place. I would prefer to find ways for government to secure revenue that puts pressure on government to contain itself rather than to insert itself in to the daily lives of the citizen.

Certainly you can design the sales tax system so that in theory the money is remitted first to the state government but this would be a short term effect and in short order the Federal government would insert itself in to the system to ensure that taxes were being properly calculated and submitted.

38 posted on 10/08/2013 11:09:54 AM PDT by Pontiac (The welfare state must fail because it is contrary to human nature and diminishes the human spirit.)
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To: Pontiac

That still keeps many out of the ‘process’ (same as today), it still requires a Dept. to track/audit/etc. let alone allows the re-start of ‘tweaking’ and loopholes. It still affords no FREEDOM to NOT be taxed. And, income is STILL the worst way to pay for (true) gov’t functions.

Gov’t should NEVER be the 1st one in the collection line after payday with its hands out...an income tax is just that.

A sales tax is not some ‘black market’ loophole. You’re right though, it DOES allow one to be taxed or NOT. I would NOT allow to some group vs. another (even if they COULD get a loophole, EVERYONE could partake...none of this ‘in bracket XYZ’ crap).

2nd hand and bartering SHOULD be actively used, yet another way to get back to our roots.

The Constitution was to be the ‘constraining’ force of gov’t. You actually believe market forces would do better in some way (cough *the Fed* cough *gold standard* cough)

The remittance CAN be over-taken, in time, I’d bet. Though, IMHO, it’d be a hell of a battle when people were shown what economic freedom feels like again.
.


39 posted on 10/08/2013 5:17:16 PM PDT by i_robot73 (Give me one example and I will show where gov't is the root of all problems.)
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