1. Hi there guest! Welcome to PoliticalJack.com. Register for free to join our community?
    Dismiss Notice

Greece struggles to find creditors

Discussion in 'Economics, Business, and Taxes' started by Max R., Apr 17, 2015.

  1. Queen Titania

    Queen Titania Senator

    Joined:
    Sep 18, 2011
    Messages:
    37,569
    Likes Received:
    4,414

    I was reading somewhere that The EU its self was thought up by a Pole, now a US citizen but from Poland. The Poles being the most troublesome and war like of all Europeans I do doubly doubt the whole concept had nothing to do with unity, not that instinctively I ever thought it was ---- when 'Hitler' ( shhh I didn't mention that name ssshhhh) called for peace and unity and fair trade all he got was a declaration of War ---

    WWII was fought for the Dollar --- Germans have to tread carefully so though I go along with the 'Germany is being too harsh' pov I am also aware of their predicament going back over two wars where the mightiest forces in the World crushed them for simply being themselves. But I just mentioned that for to say that this goes deeper, I don't want to 'do' it ---
     
    • Like Like x 1
    • Winner Winner x 1
  2. georgephillip

    georgephillip Governor

    Joined:
    Jul 18, 2013
    Messages:
    19,632
    Likes Received:
    1,642
    Carroll Quigley spends a lot of ink on the economics of WWII. For example, he points out how the French government was limited by its economic elites in 1937:

    "As a result, the franc passed through a series of depreciations and partial devaluations which benefited no one except the speculators and left France for years torn by industrial unrest and class struggles.

    "Unable to arm or give foreign affairs the attention they needed, the government was subjected to systematic blackmail by the well-to-do of the country because of the ability of these persons to prevent social reform, public spending, arming, or any policy of decision by selling francs.

    "Only in May 1938 was a decisive step made. At that time the franc was drastically depreciated to 179 in the pound, and pegged at that figure. Its gold content (by a law of November 12, 1938) was fixed at about 27.5 milligrams nine-tenths fine. By that time France had suffered years of economic chaos and governmental weakness. These conditions had encouraged German aggression, and, when a decisive financial action was made in 1938, it was, because of the rising international crisis, too late to reap any important..."

    I'm starting to see a certain logic in hanging some financial speculators at some crucial times in history.:D

    Quigley, Carroll (2014-06-05). Tragedy and Hope: A History of the World in Our Time (Kindle Locations 8321-8328). GSG & Associates Publishers. Kindle Edition.
     
  3. georgephillip

    georgephillip Governor

    Joined:
    Jul 18, 2013
    Messages:
    19,632
    Likes Received:
    1,642
    I don't think you're the only one with those doubts...
    "Moreover – as Martin Armstrong has warned for decades – letting countries like Greece join he Euro without first structurally adjusting their debts was a recipe for disaster. For example, when the Euro double in value a couple of years ago, Greece’s debt doubled in real terms. That’s when Greek really started sliding towards crisis …

    "So the wealthy nations like Germany – intentionally or unintentionally – and the other wealthy nations laid the groundwork from the start for asset stripping in Greece and other indebted states."

    http://www.zerohedge.com/news/2015-07-17/little-known-history-euro-crisis-was-baked-start
     
  4. Queen Titania

    Queen Titania Senator

    Joined:
    Sep 18, 2011
    Messages:
    37,569
    Likes Received:
    4,414
    Brics have offered Greece a loan

    http://www.ibtimes.co.uk/russia-offers-debt-ridden-greece-funds-brics-bank-1509825
     
    • Like Like x 1
    • Thanks! Thanks! x 1
  5. georgephillip

    georgephillip Governor

    Joined:
    Jul 18, 2013
    Messages:
    19,632
    Likes Received:
    1,642
    "Russia has said that debt-ridden Greece can borrow money from Brics' New Development Bank to crawl out of its present crisis.

    "In order to be eligible for the funding, it is enough if Greece buys shares in the recently-launched bank, said Russian Deputy Finance Minister Sergey Storchak.

    "'If they buy, so to speak, a few shares and become members of the bank, they will be able to count on the resources. We do not have any co-relation between a contribution and an amount of funding. There is general agreement that the system of the countries' assets will be balanced.'"

    http://www.ibtimes.co.uk/russia-offers-debt-ridden-greece-funds-brics-bank-1509825
     
    • Like Like x 2
  6. Max R.

    Max R. On the road Supporting Member

    Joined:
    Mar 16, 2015
    Messages:
    18,880
    Likes Received:
    2,838
    I'd love to see Russia throw a ton of Rubles into that money pit. If Greece defaults, will Russia then annex them?
     
  7. georgephillip

    georgephillip Governor

    Joined:
    Jul 18, 2013
    Messages:
    19,632
    Likes Received:
    1,642
    Not unless Goldman Sachs suggests another cross-currency swap.
     
    • Agree Agree x 1
  8. Max R.

    Max R. On the road Supporting Member

    Joined:
    Mar 16, 2015
    Messages:
    18,880
    Likes Received:
    2,838
    Meaning Russia wouldn't annex Greece or that they wouldn't be giving Rubles to Greece?
     
  9. georgephillip

    georgephillip Governor

    Joined:
    Jul 18, 2013
    Messages:
    19,632
    Likes Received:
    1,642
    Maybe it depends on how many shares Greece can purchase in the new $50B bank before Goldman does "God's Work" in the currency markets?:eek:
     
    • Funny Funny x 1
  10. Queen Titania

    Queen Titania Senator

    Joined:
    Sep 18, 2011
    Messages:
    37,569
    Likes Received:
    4,414
    No ---- this is the whole point of Brics, there are no impossible and crippling strings attached.
     
    • Winner Winner x 1
  11. Queen Titania

    Queen Titania Senator

    Joined:
    Sep 18, 2011
    Messages:
    37,569
    Likes Received:
    4,414
    Meaning that all Brics loans are given for the advancement of poorer countries not in order to enslave them.
     
    • Winner Winner x 1
  12. Max R.

    Max R. On the road Supporting Member

    Joined:
    Mar 16, 2015
    Messages:
    18,880
    Likes Received:
    2,838
    Because all of Greece's problems are due to the "f*cking Jews" at Goldman?

    Sorry, not buying any of that bullsh*t. Here's my solution: Stop lending money to the fiscally irresponsible.
     
  13. georgephillip

    georgephillip Governor

    Joined:
    Jul 18, 2013
    Messages:
    19,632
    Likes Received:
    1,642
    Greedy Jews pose the same threat to humanity as greedy Christians or Muslims. Central banks operating for private profit have no business loaning money to sovereign governments since their owners' faith requires privatizing profit and socializing cost.
    "The Goldman–Sachs family is a prominent family and financial dynasty of German Jewish descent, known for the leading investment bank Goldman Sachs. Marcus Goldman's youngest daughter, Louisa, married Samuel Sachs, the son of close friends and fellow Lower Franconia, Bavaria immigrants.[1] Louisa's older sister and Sam's older brother had already married. His oldest son, Julius Goldman, married Sarah Adler, daughter of Samuel Adler.[2] In 1882, Goldman invited his son-in-law Samuel to join him in the business and changed the firm's name to M. Goldman and Sachs. For almost fifty years, all the partners came from the extended family."
    https://en.wikipedia.org/wiki/Goldman–Sachs_family
     
    • Informative Informative x 2
  14. Queen Titania

    Queen Titania Senator

    Joined:
    Sep 18, 2011
    Messages:
    37,569
    Likes Received:
    4,414
    Never mind what tag we give them or they give themselves ---- Look to the Pyramid which is Vanguard ---- the control of everything but everything sits within it.
     
  15. georgephillip

    georgephillip Governor

    Joined:
    Jul 18, 2013
    Messages:
    19,632
    Likes Received:
    1,642
    Sunday, 26 July: Is a Grexit inevitable?
    "Nobel prize-winning economist Paul Krugman suggests that the Greek economy can recover from the severe recession by exiting the Eurozone (often called 'Grexit' in the media) and launching a new national currency, the drachma.

    "The devaluation of the currency may help Greece boost its exports and pay down its debts with cheaper currency.."

    "However, the consequences of 'Grexit' could be global and severe, including:

    • Membership in the Eurozone would no longer be perceived as irrevocable. Other countries might be tempted to exit or demand additional debt relief. These countries might also see the interest rates rise on their bonds, making debt service more difficult.
    • Further depreciation of the euro relative to the dollar, which would cheapen Eurozone exports while making imports more expensive for Eurozone members. This could reduce the exports of non-euro countries.
    • Geopolitical shifts, such as closer relations between Greece and Russia, as the crisis sours relations with Europe.
    • Significant financial losses for Eurozone countries and the IMF, which are owed the majority of Greece's roughly $300 billion national debt.
    • Adverse impact on the IMF and the credibility of its austerity strategy, which has contributed to the Greek depression.
    • Inability of Greece to access global capital markets and the collapse of its banking system for an indeterminate period of time.[156][157][158][159]"
    https://en.wikipedia.org/wiki/Greek_government-debt_crisis#Exit_the_Eurozone_or_.22Grexit.22
     
    • Informative Informative x 1

Share This Page