muses of the moment

October 10, 2013

Reggie on Greece

Filed under: Bailout Nation, Credit Derivatives, European Debt Implosion, The Banking Crisis, The Dollar Crisis — totallygroovygirlfriday @ 5:45 pm

Good post by Reggie Middleton on the Greek debt restructure and bailout. It is a smaller picture of the larger picture of this cycle: a wholesale wealth transfer. This is the current mode of operation going on around the world, especially Europe. It will eventually hit the US in some form (higher taxes, deflation or hyperinflation or all of the above), be prepared. The only positive thing that the US has, is the printing press. But that just means the Greek Tragedy for “advanced countries) takes 9 acts instead of 5…..but the end is the same. Massive transfer of wealth.

Click here.

The news of the potentially greater financing needs comes at a sensitive time for the country. Many in Europe, particularly in Germany, are losing their patience and there has been increased talk of the country leaving the common currency zone. Over the weekend, German Finance Minister Wolfgang Schäuble reiterated his skepticism of additional aid to Greece. “We can’t put together yet another program,” he said on Saturday, adding that it was irresponsible to “throw money into a bottomless pit.”

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