Greece, Please Do The Right Thing: Default Now

06-02-2011 • OfTwoMinds.com/blog

If you think this through, there is only one ethical thing for the maiden to do: toss the spiked sugary drink in the face of the predator and deliver a swift, hard kick between his legs "where it counts." Greece should respond to this planned predation with complete and total default: not a "haircut" or "extended terms," a complete and total refusal to pay any of the debt. We are constantly warned that the resulting collapse of the "too big to fail" banks would trigger a global implosion. That is false; life would go on after the predators declared bankruptcy and were liquidated. What the predators fear most is an awareness that any disruption in normal life would be brief and relatively painless compared to the vast suffering imposed to render them their pound of flesh. The banks are in effect imposing Droit du seigneur--"lords rights"-- on Europe. Someone needs to take the predators down, and it might as well be Greece.