Posted on 05/24/2015 3:55:41 PM PDT by SeekAndFind
Unfortunately, that’s the complete truth. We just own our own printing presses. It will eventually catch up to us too.
Not much chance of that here in the north woods of Maine.
True, they have relinquished their sovereignty by joining the EU. when they get thrown out, they can repay with worthless Greek paper. Ever notice that only a few countries are allowed to do this? The rest of my response for another time.
Hardly.
The Greeks are in control of the situation
Without more loans from the ECB, IMF or the Euro governments, Greek checks to their employees and retirees will soon bounce. Without more loans, Greek banks will soon run out of cash.
The Greeks control their own fate, not the situation. The Greeks cannot expect more free money while telling their creditors to f-off.
“Loan me more money or I’m going to see a bankruptcy lawyer.”
I usually heard this when a lawsuit was threatened.
Pouring more money into a money pit is just silly.
*****”Why would anyone lend a broke and irresponsible entity or person money?” *****
China lends to us... I wonder what is actually in it for them.
We are being LIED to on such a Grand Scale.
TT
I do as well.
They aren’t going to be paid back by our government.
No one is.
Full faith and credit means not one thing.
I believe the time to cut their losses has arrived for both sides.
“
True, they have relinquished their sovereignty by joining the EU. when they get thrown out, they can repay with worthless Greek paper.”
Well, they have and they haven’t - relinquished their sovereignty. That’s the problem. The EU is in about the same spot that the U.S. was when the Articles of Confedercy was in effect. We had to fight a civil war to resolve the question of Federalism. It’s my guess that eventually Greece will drop out and revert to the Drachma and print, print, print till it’s worthless. Then, “perhaps” Greeks will see the light - but, I wouldn’t bet on it.
“My understanding is they never should have been permitted to join the Euro-zone, that they got in via deception (and possibly winking at that deception by others) and they should get out ASAP.”
There was more than just Greece that got in on a wink. I have an Italian friend who is a banker. He told me back when the whole common currency thing was being put together that Italy wasn’t in any shape to get in either. the PIIGS are going to sink the Euro. It isn’t whether, it’s when.
Greece has been blustering about default for years.
I hereby offer $100 for a title to a nice 100 acre greek island (all taxes and fees paid in perpetuity, no development restrictions).
Doing my part to support the euro!
:-)
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