What is to do with Greece?

It is simple scheme.
I call them "economic terrorist"

They threat countires like equities,
Find the poor or undervalued country(company),
spend(give a credits) a little bit money to "help" achieve a good ratings, economic factors etc
Convince others about stability of that country to attract foreign capital.
Set up a government which is part of ur strategy,
Maximize profits then ran out before the country(company) is able to pay back its debts.
Find next country(company)


Argentina won with them, will Greece choose same way ?

let em burn, or was that Rome? They're headed for the same result without welfare $$. Short the Euro to it's knees.

maybe the e/u is already (almost in a short-term view) to it knees...
there are rumors about a 500-600 bln € aid-package

But that means also that a debt-crises get solved with other debts - it's really good to drink more beer, if I'm already drunkn?? Maybe i should try one time to drink beer and wine the morning after a party when I feel really sick :-)

an interesting article:
http://finance.yahoo.com/news/The-Sa....html?x=0&.v=1

Bernanke Admits Printing $1.3 Trillion Out Of Thin Air
21 April 2010

By Greg Hunter

USAWatchdog.com

Fed Chairman Ben Bernanke admitted the central bank created $1.3 trillion out of thin air to buy mortgage backed securities. This shocking admission came from the Joint Economic Committee hearing on Capital Hill last week. I was dumbfounded when I saw Bernanke shake his head in the affirmative as Representative Ron Paul said, “Well, where did you get the money? You created this money. So you did monetize debt, and that went into the banking system.” I was amazed he admitted this. I looked up the original hearing on C-Span to make sure the clip was not edited. It was not.

What is even more shocking is I could not find a single mainstream news agency that covered this revelation. Congress just finished voting on the bitterly contested Obama health care bill that is supposed to cost nearly a trillion dollars over ten years. (Some contend it will be more than twice that amount.) The mainstream media doesn’t even bat an eye over the Fed creating $1.3 trillion in a little more than a year to buy worthless debt no one else will touch. I do not get it. I guess we could have asked the Fed to print up a trillion dollars to pay for health care and avoided that drawn out battle in Congress.

Then, Rep. Paul brings up printing another $105 billion to bailout Greece. Bernanke answers by saying, “. . . I think one of the agreements that the G20 leaders came up with was sort of a mutual commitment to put more money into the IMF as a way of addressing the financial crisis around the world. . .” Notice how Bernanke used the term “mutual commitment.” I think what that really means is an agreement between all the G-20 nations of a “mutual debasement of their currencies.” I think this is why gold has been rising in price around the globe. I have been saying for months that we are going to have some very big inflation. (Real inflation is already at 9.5% according to shadowstats.com.) I wrote about this last November in a post called “The Fix Is In.”

I think Bernanke just opened the Fed playbook and revealed money will be printed to fix all financial problems. I don’t think he’s even trying to hide it anymore. Rep. Paul also brought up the big debt trouble coming soon with many, many bankrupt cities and states such as Los Angeles and California. I think they will all be bailed out one way or another by the printing press.

New York Fed President William Dudley seems to be on the same page as his boss. Dudley recently said, “The fact that our foreign indebtedness is for the most part denominated in our own currency is a huge advantage in the event the dollar were to come under significant downward pressure.” (Zero Hedge has a complete text of Dudley’s speech, click here) Is Dudley making a not so subtle hint about devaluing the U.S. dollar? Once again, I say yes.

Anyone with a savings account or money market denominated in dollars should be terrified. You have scrimped and saved only to have the Fed print money and devalue what you have worked so hard for! Inflation has been chosen for you by the Federal Reserve, and we the taxpayers can’t even audit its actions. Below is the video from the Joint Economic Committee Hearing last week. Watch for yourself Bernanke nod yes to printing $1.3 trillion:

http://usawatchdog.com/bernanke-admi...t-of-thin-air/

1.3 trillion... not bad

strange that i could not find any other sources that confirms this amount - i can't believe that no newpaper would wrote about such an amount

Greece should be thrown out from Euro zone immediately. It is the only way to save Euro and it is also the only fair thing to do. They have been cheating others for years, which means stealing from others. It is time now to be on their own.

bankruptcy is round the corner. they know everything. they are just trying to make some more money. when the greek banks go bankrupt and steal all deposits, for exapmple.

but more countries to come. everything will go bankrupt. in 1-2 years the whole world won't be the same anymore. this is the end.

that's what this world deserve. and nothing more.

More precisely the Greek politicians must be thrown out and the central bankers must be thrown out and who collaborates with them must be thrown out. Nobody has the right to enslave future generations with debt

Is Greece a democratic country? Who elected those politicians to the Parliament?
Why should the tax payers of other countries cover the debts now? No sense.

Reminds me of the story of Faust - do I make a deal with the IMF for an instant fix that I'll have to repay with eternal slavery, or do I rough it out on my own now, atone for my sins and save my soul? See act 5 for the conclusion.

Indrek, Greek people are responsible only in a small degree, because they are hypnotized from the schools, the universities and the media, they are educated ignorants. And not only in Greece, this is world wide.

If we don't know how to assimilate information and knowledge, we are hypnotized from the same information and knowledge.

Please read my other posts, too.

Indrek do you know what the "greek" word "rousfeti" means? Here is an explanation I found for this word: "Rousfeti means expensive political favors, which pervade everything from hiring teachers to property deals with Greek Orthodox monks."

If you don't already know, orthodox monks are well known for their voluntary austerity and povetry. Thus, you can easily understand that the above explanation would mean exactly the same if you placed a dot next to the word "everything" and erase all the words after that.

Ever heard of Wolf Biermann? Here is a link for a song named "I am bored of them". That's a greek translation from german but in that page you can find the lyrics in english as well:



It's a pity that such great persons no longer exist. The world would be much different.

So, you can say that Greece has adopted a new regime. You can call it "rousfetocracy".

It is true. Some of you maybe aware of the Greek reality.(Mostly Greeks, but not all of us...). The others are just reproducing what they have heard or read.
OK. let me tell you that (not only) in this corner of the civilized world there is a species of WOLFS, that are called POLITICIANS. Wolfs are necessary in the biological chain, but whenever they attacked civilized areas, they were chased, or killed by the people that were harmed. You see, Mother Nature has imposed some very strict rules that none can overlook...
But in the case of Politicians, which are making also the Laws..., you only have the right to vote (kill them) every 3-4 years, or make a revolution (which is not guaranteeing anything..-See Indonesia recently), or you face this difficult situation.
The ruling party did not touch any of the big issues they had promised the last 6 years, as they were afraid that they will loose next elections.
The country of 11.000.000 population is almost bankrupt. Since the last 6 years the Public sector increased by 135.000 employees to reach about 1.100.000 because the ruling party was out of the government since 1981 and had to fill their promises.
From 1974 till 2003, the country had borrowed 175 billions Euros, while from 2004 till 2009 the country borrowed some fresh 145 billions.
A dozen of scandals, evolving many billions of euros, were every day present
in the daily papers and tv.
Black economy, is officially calculated to 25%, while unofficially is over 40%.
Nothing was done to minimize these figures.
Tax Collection was totally a useless public sector. 36 billions euros are at this moment confirmed debts from about 10.000 companies. Could not be collected.
Only Employees, Pensioners and Big Companies are paying their taxes.
All the other small companies and free businessmen are avoiding to pay their taxes, as they declare between 10-20% of what they actually should. Imagine that they declare last year an average annual income of 6.500 EURO
while Employees/Pensioners, declared 8500 EURO.
The prices in the super-markets are 25-40% more expensive than Germany or UK while our income is 40-50% lower .
I must also tell you, that above wolfs have voted a law that is declaring them "not guilty" if they were caught to act illegally during the last 4 years.

Where the heck were all these years the EE, the IMF, .????????

Since last Oct. we have a new government which has promised some socialistic measures but has taken some dictatorial ones, trying to persuade us that this is the only way out. I must admit that they are trying hard to do something different, more effective, than the others, but they need time.
Do they/we have the time ?
Since Greece is a democratic country and we have 3,5 years until next election, do you think that we must wait, or 11.000.000 people should be punished today because a cast of 50-100 crooks tackled us ?


Sotos

I get your point very well. But at the same time there is always the question why should other countries be responsible for all this.
Nothing good can happen if Greece itself will not cut state expenses sharply. All those tens or even hundreds of thousands of unnecessary people should be dismissed from public sector, salaries and pensions have to be decreased etc. If the country manages to do all this, only then the trust of other countries can be restored.
The worst thing to do is to protest on the streets and go for strikes. There is no place for any socialist ideas in a crisis like this.

Indrek, ordinary people in Greece don't want any help with debt money. The politicians and... want it.

Ordinary people want first of all justice, that means the politicians and their bosses the central Bankers and the war industry owners mainly, must give back the money they stole and they must pay for all the wars, civil war, tensions with the Turks, politics against serious economic growth of Greece, etc.

Then they want to produce things, without obstacles from the government.

Most of Greek people are hard workers, but they (like the majority of humanity) don't have good understanding of the hierarchy of causes and effects. Democracy is possible only between people that can distinguish in a high degree causes and effects, otherwise is ochlocracy (crowd-cracy).

Today on planet earth we have ochlocracy (crowd-cracy). If one understands the psychology of the masses, crowd is blind force, easily guided from the people who have the most economic power.

Remember the most politicians around the globe work for the central bankers.

As well as the most of the mass media.

And remember too, the central bankers created the most in quantity debt in the majority of countries. Because no country is able to pay back the debt, they ask from country anything they like.

They created or contributed to many wars, because they have the weapon industries.

They have many pharmaceuticals, too. So, few months ago they wanted to sell vaccines to all the world with their propaganda etc, etc.

Its no use playing the blame game. Until the people and politicians really face up to the reality that they are responsible for sorting the problem out the worse its going to get. Best thing (not for the overseas banks though) would be to default, scrap most of the benefits, raise the retirement age to 65, work 48 weeks a year, lower wages and dramatically increase productivity and build the economy up through hard work and innovation. Is there another way? Take responsibility instead of apportioning blame.

If you let the thieves in your house to do whatever they like is your blame. But first one must wake up, because the thieve presents himself as the Savior.

I don't think that central bankers created wars, because they own the weapon industry (as I know the central bankers don't own the weapon industries and the don't own neither the pharma firms).
The wars were "created" only by some crazy politician (with the help of the people) because they promised a mightier country and a better future after the war. I'm pretty sure that there was no war only for making the weapon industry richer - there exists thousands of easier ways for stealing the money from the tax payers and getting rich.

Right now Greece and also other countries has to decrease sharply their debts, it is necessary that the overlarge public administration has to cut costs and that many benefits has to get cut too.

The problem of the big debt of Greece and other countries was, that the interest rates, that they had to pay were too long at a too low level, because the investors didn't realized the risk of Greece.

The central bankers control the war industry, they don't want the weapon power against them. Not all the wars but many major wars are created by them. I speak from thousands of hours of information research and self knowledge.

Do not trust Greek economy now, and for the next five years and more do not trust stock markets, no bonds of any country, perhaps invest in Swiss franc or carefully bye bars of gold.