Topic: What is the Greece verdict? (Read 1179 times)
It's just the beginning of the end of our current money system. Whether they loan Greece even more money to pay back what they're owed (which is absurd) or accept that Greece is never paying back, the result remains the same: more money will be printed, and the more depreciated the value of money will be. It's a neverending cycle until the debt becomes too big that you can no longer create enough money to cover without triggering massive inflation reducing its value to practically zero.
If the US has money they just print more (Quantative easing).
Since the whole world has dollars and oil is priced in dollars, printing money screws over everyone in the world.
Since the whole world has dollars and oil is priced in dollars, printing money screws over everyone in the world.
I found this earlier before their summit. Now they also want Greece to sell billions worth of assets and privatize state owned companies. The Greeks are against it and have been arguing with the Germans all night about it. If they agree they have to legislate to back the terms by 15 July or they don't get a bail out. I don't think anyone knows if they will agree or not yet.
http://www.nytimes.com/live/greek-debt-crisis-live-updates/
http://www.nytimes.com/live/greek-debt-crisis-live-updates/
Quote
Draft copies of the Eurogroup’s assessment of Greece’s needs — and what Greece must do to qualify for a bailout — were seen by The New York Times on Sunday evening. The text is still subject to amendment by the eurozone leaders, and numerous sections of the documents were bracketed for the leaders’ amendments.
......
Among the central elements:
“Continued full involvement” of the International Monetary Fund as “a precondition for the Eurogroup to agree on a new” bailout program.
“Greek authorities to legislate without delay, by 15 July, a first set of measures” that must include: “the streamlining of the VAT system and the broadening of the tax base to increase revenue” as well as “upfront measures to improve long-term sustainability of the pension system as part of a comprehensive pension reform program.” Greece must also legislate to ensure the independence of its state statistical agency, overhaul its civil justice system, and adopt European rules to ensure orderly closure of failing banks.
......
Among the central elements:
“Continued full involvement” of the International Monetary Fund as “a precondition for the Eurogroup to agree on a new” bailout program.
“Greek authorities to legislate without delay, by 15 July, a first set of measures” that must include: “the streamlining of the VAT system and the broadening of the tax base to increase revenue” as well as “upfront measures to improve long-term sustainability of the pension system as part of a comprehensive pension reform program.” Greece must also legislate to ensure the independence of its state statistical agency, overhaul its civil justice system, and adopt European rules to ensure orderly closure of failing banks.
I'm glad the Greeks voted OXI. What will come next, I don't know but I hope whatever the central banks are the ones that feel the pain. They are a fraud and a scam that has plagued the modern world for way too long with their fractional reserves. Thomas Jefferson knew the powers these banks had and tried to write in laws to prevent them from seizing the US influence over law makers. Citizens in a democracy think they have a say, and they decide who is in office; what a joke. The only people making any decisions are the banks and the richest 1%. Bankers don't go to jail when they get caught stealing, laundering or rate fixing because they run the whole show. The whole thing makes me sick when I really think about it.
I do agree that the Greek people are getting screwed over but it's not by the EU but through their own government.
They got screwed by rich bankers who convinced the Greek government to take their huge loans and taught them how to hide their debt. It would have worked out well if we didn't have the other big screw up by the banks in 2008 which lead to a world wide financial crisis and that's why Greece suddenly found themselves in a big mess. The problem here is not the Greek government but the corrupt banking system itself who took on too much risk and then let others take the blame and loss for it if things go wrong. We have let the banks turn into monsters, and as long as we keep on bailing them out and piling debt on more debt this monster will keep on growing and destroy everything we hold dear. Greece is just an unfortunate scapegoat caught in the middle of all this.
Quote
How would you help a country if not through the banking system? Banks are required to have businesses start or being run. Banks are required for people to buy houses, etc. Banks == Economy.
Time to start thinking outside of the box and realize we've been doing things all wrong the whole time. The banking system needs to be reformed and fractional reserve banking should be abolished. Nobody should be able to lend money to others they don't actually have, as this lies at the very heart of all these problems. Banks should not be the primary economic driver on which everything depends, we need a real economy based on real goods and services not an economy based on credit and making money from money. It's crazy. The financial industry has become way too big for our own good, and sticking our heads in the sand and continue on our old ways will only make matters worse later on. Greece has to draw a line in the sand now and I hope they pull through.
You are right that the banking system is corrupt. I believe that Greece is the first to fall and many might follow.
Bankers should be personally held responsible if they f**k it up.
Since money is an IOY I do believe that making them have an extremely high percentage of liquidity would be a good thing.
However I don't believe 100% backing of money is a good way to goin our current economy. Making liquidity 20 to 50% and assigning an external supervisor would be a good start towards the 100% backing goal.
If 100% liquidity would be required then the US would be instantly bankrupt
China and EU aswell ofcourse
Is bitcoin the solution? MAYBE but it will take a few decades to introduce it.
The hashtag #ThisIsACoup supporting Tsipras and Greece is blowing on twitter at the moment. Its even Nr.1 on worldtrends.
I do agree that the Greek people are getting screwed over but it's not by the EU but through their own government.
They got screwed by rich bankers who convinced the Greek government to take their huge loans and taught them how to hide their debt. It would have worked out well if we didn't have the other big screw up by the banks in 2008 which lead to a world wide financial crisis and that's why Greece suddenly found themselves in a big mess. The problem here is not the Greek government but the corrupt banking system itself who took on too much risk and then let others take the blame and loss for it if things go wrong. We have let the banks turn into monsters, and as long as we keep on bailing them out and piling debt on more debt this monster will keep on growing and destroy everything we hold dear. Greece is just an unfortunate scapegoat caught in the middle of all this.
Quote
How would you help a country if not through the banking system? Banks are required to have businesses start or being run. Banks are required for people to buy houses, etc. Banks == Economy.
Time to start thinking outside of the box and realize we've been doing things all wrong the whole time. The banking system needs to be reformed and fractional reserve banking should be abolished. Nobody should be able to lend money to others they don't actually have, as this lies at the very heart of all these problems. Banks should not be the primary economic driver on which everything depends, we need a real economy based on real goods and services not an economy based on credit and making money from money. It's crazy. The financial industry has become way too big for our own good, and sticking our heads in the sand and continue on our old ways will only make matters worse later on. Greece has to draw a line in the sand now and I hope they pull through.
http://www.telegraph.co.uk/finance/economics/11735077/Greece-news-three-days-to-prevent-Grexit-as-leaders-issue-ultimatum.html
Mr Schulz said time was of the essence. Asked if the "real" deadline for a Greek deal was July 20, when Greece is due to repay €3.5bn to the ECB, he said: "We'll be a whole lot better off to get an agreement today then to put this off until doomsday." : http://www.telegraph.co.uk/finance/economics/11735077/Greece-news-three-days-to-prevent-Grexit-as-leaders-issue-ultimatum.html.
-7 to doomsday.
Mr Schulz said time was of the essence. Asked if the "real" deadline for a Greek deal was July 20, when Greece is due to repay €3.5bn to the ECB, he said: "We'll be a whole lot better off to get an agreement today then to put this off until doomsday." : http://www.telegraph.co.uk/finance/economics/11735077/Greece-news-three-days-to-prevent-Grexit-as-leaders-issue-ultimatum.html.
-7 to doomsday.
Poor Greeks: After the EU raped them for years (they only helped the banks, not the folks, but the poor people had to suffer), now the poor people invest in Bitcoin and will get eaten and raped by some greedy assholes as soon as the price hits some high values. This world is so sad and fucked up.
I find your post misleading and more negative towards the EU than necessary.
The Greek joined the EU and in 2009/2010 they came forth with the fact that their financial problems were bigger then they had previously mentioned. They had withheld information so they could join the EU.
The EU told them to get their shit together and healthy and gave them a loan of €52,900,000,000,000.
The only thing the EU asked was
- Increase VAT;
- Cut down on government salary and pensions;
- Collect taxes (Yes they weren't bothered to do that ... );
- Restructure the job market;
- Increase pension age;
Greek raped themselves by giving people high-pay government jobs and absurd pension plans.
In greece pension age is 57 whereas countries like the Netherlands it is 67.
Since the Greek refuse to clean house why would the EU throw money into that pit?!?
And why is it that the EU screwing over Greece? If they would have been upfront with their financial problems they wouldn't be allowed to join the EU.
They can leave if they want to but they will be filing bankruptcy pretty soon...
I do agree that the Greek people are getting screwed over but it's not by the EU but through their own government.
How would you help a country if not through the banking system? Banks are required to have businesses start or being run. Banks are required for people to buy houses, etc. Banks == Economy.
Do you really think these c..k suckers care about greek? Or anybody? Profit is everything... (Interview is from 2011 but nothing changed)
https://www.youtube.com/watch?v=eEV3zJbahvM
Banks are required to have businesses start or being run. Banks are required for people to buy houses, etc. Banks == Economy.
Poor Greeks: After the EU raped them for years (they only helped the banks, not the folks, but the poor people had to suffer), now the poor people invest in Bitcoin and will get eaten and raped by some greedy assholes as soon as the price hits some high values. This world is so sad and fucked up.
I find your post misleading and more negative towards the EU than necessary.
The Greek joined the EU and in 2009/2010 they came forth with the fact that their financial problems were bigger then they had previously mentioned. They had withheld information so they could join the EU.
The EU told them to get their shit together and healthy and gave them a loan of €52,900,000,000,000.
The only thing the EU asked was
- Increase VAT;
- Cut down on government salary and pensions;
- Collect taxes (Yes they weren't bothered to do that ... );
- Restructure the job market;
- Increase pension age;
Greek raped themselves by giving people high-pay government jobs and absurd pension plans.
In greece pension age is 57 whereas countries like the Netherlands it is 67.
Since the Greek refuse to clean house why would the EU throw money into that pit?!?
And why is it that the EU screwing over Greece? If they would have been upfront with their financial problems they wouldn't be allowed to join the EU.
They can leave if they want to but they will be filing bankruptcy pretty soon...
I do agree that the Greek people are getting screwed over but it's not by the EU but through their own government.
How would you help a country if not through the banking system? Banks are required to have businesses start or being run. Banks are required for people to buy houses, etc. Banks == Economy.
Verdict: Bitcoin to the moon.
which is what we are interested for, not exactly the grexit, come on... i'm sure everyone was talking about the greece only because of its possible influence on bitcoin market not because we really care about greece...
Poor Greeks: After the EU raped them for years (they only helped the banks, not the folks, but the poor people had to suffer), now the poor people invest in Bitcoin and will get eaten and raped by some greedy assholes as soon as the price hits some high values. This world is so sad and fucked up.
Atleast we are getting rich.. Wait .. wut ?
nvm..
Poor Greeks: After the EU raped them for years (they only helped the banks, not the folks, but the poor people had to suffer), now the poor people invest in Bitcoin and will get eaten and raped by some greedy assholes as soon as the price hits some high values. This world is so sad and fucked up.
Verdict: Bitcoin to the moon.
Anyone know something?
Jump to: