It may be a holiday weekend in the US but in Europe, the Eurozone is disintegrating. We are watching history unfold as we barbecue burgers here.
Greek Euro exit may exceed 1 trillion euros and would be “unmanageable”
The European Central Bank’s exposure to Greek liabilities is more than twice as big as the ECB’s capital
Niall Ferguson: “Greece is the symptom not the cause”
Forbes tries to be humorous but admits this is just the opening skirmishes in the inevitable crumbling of the Eurozone.
Germany and Greece play chicken in demolition derby, Euro smashed
It’s the European Demolition Derby. Smash! Crash! Crunch! Whack! Fenders banged up. Radiators steaming. Tires flattened. Greece and Germany are playing chicken. Greece presses down the accelerator and heads for Germany.
“If you force us out of the euro, all of Europe will go up in flames,” say the Greeks.
“Oh, Ja?” say the Germans, turning on the speed in their Mercedes
The most likely outcome is that the various cars will indeed smash into each other.
Market Ticker on the loathsome Christine Lagarde, IMF head and her plutocrat insistence that countries be destroyed so banksters can become wealthier even though they knew they were making garbage loans.
[Greece] should start by placing all the bonds they issued and which LaGarde’s IMF, along with the other banksters, lent upon into the paper shredder and send the bits to the ECB and LaGarde via FedEx. After all every one of these institutions was part and parcel of increasing credit into their economy at a greater rate than GDP, and thus was fully aware they were effectively counterfeiting Euros into the Greek economy.
That this action was legal doesn’t change the moral depravity of the act, nor does it excuse those who committed it from the consequences.
Trying to appeal to the morality of the banksters is pointless as they don’t have any. If they did, they wouldn’t deliberately be destroying countries.
The consequence, incidentally, is that you lose your money as you don’t get repaid, and the bogus nature of your claimed “asset valuations” and lack of capital behind your positions is exposed.
It called capitalism, something the banksters profess to believe but by their actions, clearly don’t. Their corrupt, diseases entities continue to shamble upon by looting governments and populations.