27 Oct 11
Originally posted by shavixmirBanks will go bankrupt. For they are not able to pay the dept, or the paranoid version; they are not willing to open their reserves and pay the dept.
yeah? And so what if it does?
They will shut down all the possibillities for you to get your money. Coz that's what they always do when things go wrong. Governments are not able to bail out anymore because they don't have that kind of money either. So, your money will be gone. Everything. Your pension, your savings, your account. You will not get paid by the company you work for, for they can not get their money either. And so on. The whole system will collapse, leaving you poor, hungry and thursty. Now, you need to eat, can not pay for it, looting, riots, the lot will go up in flames, police and armies will kill civilians by the thousands, for they are here in the first place to defend the wealth of the few. Fill in the picture.
27 Oct 11
Originally posted by shavixmirGreece already went bankrupt. That's why their creditors were being forced to take a 21% reduction in the money they were owed. Today it was announced the creditors are taking a 50% reduction.
We were basically brainstorming about Greece the other day and nobody could actually really say what happens if a country goes bankrupt.
I constantly hear the "DREAD" of it happening and every capitalist country in the world scurrying to stop it from happening. The IMF sweating like fat pigs in a sauna and the World Bank heaving and huffing like an Alab ...[text shortened]... git's computer screen).
So, please explain it to me so I can start my medication.
Greece is already bust dude.
27 Oct 11
Originally posted by SakeIsn't this just the threat?
Banks will go bankrupt. For they are not able to pay the dept, or the paranoid version; they are not willing to open their reserves and pay the dept.
They will shut down all the possibillities for you to get your money. Coz that's what they always do when things go wrong. Governments are not able to bail out anymore because they don't have that kind of money e ...[text shortened]... ds, for they are here in the first place to defend the wealth of the few. Fill in the picture.
I mean, what really happens?
If everything is so pear-shaped, surely a country just invents new money and starts again.
Why wouldn't they?
28 Oct 11
Originally posted by Teinosukeits like if the banks failed most would suffer finacial ruin, then riots would prevail, if as it should of been in the first place germany and friends joined together, the rest would fail as they gain from others prudance while they can take a carefree atitude and spend spend spend in the knowledge someone will bail them out.
The question that was preoccupying me this morning as I read in The Times about Merkel's apocalyptic threats regarding what would happen if the euro were to fail was - why is Germany so desperate to save this particular house of cards? If Germany left the euro tomorrow (presumably accompanied by Austria and the Netherlands, whose economies are very closel ...[text shortened]... d Finland out of the single currency, and allow the euro to be replaced by the... Mediterraneo?
the reason why it wont but should happen they sold the dream to many and now its turning to a nightmare but they want to keep the dream
29 Oct 11
Originally posted by EladarA lot of Greek debt, like our own, is not held by banks but by bondholders, some individually purchased and others part of mutual funds.
If I understand it right, the banks have written off half of Greece's debt and are doing great!
Why should forgiving the other half do any harm?
The harm is spread to a lot of innocent people who "saved" money for their retirements.
29 Oct 11
Originally posted by EladarWell firstly it is a voluntary agreement on behalf of the banks - we will just have to see how it pans out.
If I understand it right, the banks have written off half of Greece's debt and are doing great!
Why should forgiving the other half do any harm?
If it does pan out it might set a fairly dangerous precedent.