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News Link • Economy - International

Greece Once Again Boiling Over

•, by Karl Denninger
 With creditors led by Germany refusing to put up fresh money or offer debt relief, the finance chiefs were unable to scrape together enough funds from other sources to help alleviate Greece’s debt burden, set to hit 190 percent of gross domestic product in 2014.

Yep. And now the IMF has a problem because its bylaws prohibit lending to nations with "unsustainable" debts, which it defines as 120% of GDP.

Then we must define "debt"; the US violates this in spades if you use the discounted cash flow requirement for entitlements as part of "debt."

Isn't it convenient that despite the claims of many, and beliefs of virtually everyone, the law does not define those forward promises in Medicare and Social Security as debts, and that is a settled matter within the courts as well?

Use your thinking caps folks; while at the present time the market is having a few shots of eggnog and (Wild) Turkey, the hangover is just around the corner.

1 Comments in Response to

Comment by Ed Price
Entered on:

In all boils down to this.

You have a bunch of people who want to work. You have natural resources. You have knowledge of all the ways to use the natural resources to make the things you need to live comfortably. And you have all this in abundance. So, where's the problem?

The problem lies with a bunch of governments and bankers. They convince you that they can handle the operation better than nature can. They claim that they can give to the poor better than you would on your own. They claim that they can help the sick, and keep the healthy from becoming sick better than you can. All they need is control of your money to do it.

When you don't give them the control they ask for, they use tricky, deceitful methods to get it. They offer services that actually DO help with the flow of money for a time. Meanwhile, behind the scenes, they are cooking the books, setting themselves up for the day when they can run your lives out in the open.

Well, folks, that day has come. And it is a day of trouble for all the nations that are part of the international banking system, the nations that have tremendously large governments that leach off the labor forces so that they can live in luxury.

This can't go on. And it won't go on for much longer. Collapse is near. But the big government and banking people realize their end is near better than any of the rest of us do. They have the time to make plans. So, WATCH OUT FOR THEIR SNEAKY PLANS, plans that they have in the works for the time when the present system fails completely.

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