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Old 09-19-2011, 08:44 PM
 
Location: Conejo Valley, CA
12,460 posts, read 20,077,688 times
Reputation: 4365

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Quote:
Originally Posted by Don9 View Post
The Europeans states including Greece, Ireland, Spain and Portugal are experiencing a sovereign debt crisis.
Yes.....and how does that conflict with what I have stated? Debts are just an abstraction, a form of obligation, a debt can't destroy the real economy which is made of tangible things.

Tomorrow Europeans could wake up and say "Let the debt all be gone" and it would be gone....and the economy would still be there.

Regardless, the "debt crisis" is really a currency currency. The PIGS could resolve most of their problems by just getting off the Euro, of course the bankers don't want this because that would result in large losses for them....
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Old 09-19-2011, 09:10 PM
 
5,113 posts, read 5,969,382 times
Reputation: 1748
Quote:
Originally Posted by user_id View Post
Yes.....and how does that conflict with what I have stated? Debts are just an abstraction, a form of obligation, a debt can't destroy the real economy which is made of tangible things.

Tomorrow Europeans could wake up and say "Let the debt all be gone" and it would be gone....and the economy would still be there.

Regardless, the "debt crisis" is really a currency currency. The PIGS could resolve most of their problems by just getting off the Euro, of course the bankers don't want this because that would result in large losses for them....
Maybe we should tell the EU people to close their eyes and click their heals three times and say "There's no place like home"...

Interesting that you say "The PIGS could resolve most of their problems by just getting off the Euro". I think you might know more than you let known. Very few people realize that the federal reserve bank is engaging in currency swaps with big EU banks, exchanging Euros for US dollars. Do you know why? We are also lending the EU banks big money ... or should I say an attempted bailout.
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Old 09-19-2011, 09:52 PM
 
Location: Conejo Valley, CA
12,460 posts, read 20,077,688 times
Reputation: 4365
Quote:
Originally Posted by Don9 View Post
Maybe we should tell the EU people to close their eyes and click their heals three times and say "There's no place like home"....
Maybe? If Europeans decided tomorrow that all past debts were null and void....would machines vanish, etc? Nope.....

Debts are just obligations, generally from from "the people" to the elite. In the past you had chains, today you have debt....the goal is the same...slavery. Cut the chains....cut the debt...its all the same.
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Old 09-19-2011, 10:12 PM
 
5,113 posts, read 5,969,382 times
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Quote:
Originally Posted by user_id View Post
Maybe? If Europeans decided tomorrow that all past debts were null and void....would machines vanish, etc? Nope.....

Debts are just obligations, generally from from "the people" to the elite. In the past you had chains, today you have debt....the goal is the same...slavery. Cut the chains....cut the debt...its all the same.
You do realize what happens when a country stops paying on its loans (debt)? The creditors come knocking. The creditors can be countries like China or Japan and anyone who buys treasury bills, bonds and such let alone investment losses in the markets. There will be a run on the banks throughout the world. It would trigger economic panic and collapse ... and really **** off a bunch of people around the world who are already very angry. No, there is no reset button in this game. Besides, most people don't even know the real goal and rules of this game. For the puppet masters, the game will just be getting started once the economic collapse occurs.
Have you noticed protests starting in NYC around Wall Street and the Federal Reserve? These protests will be expanding as time goes on. In about two weeks you will see protests in Washington and major cities around the country. The game is just getting started.

Last edited by Vascodagama; 09-19-2011 at 10:54 PM..
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Old 09-19-2011, 10:17 PM
 
Location: Conejo Valley, CA
12,460 posts, read 20,077,688 times
Reputation: 4365
Quote:
Originally Posted by Don9 View Post
You do realize what happens when a country stops paying on its loans? The creditors comes knocking.
There are many examples of countries that defaulted on their loans....funny thing too....they are still around today.

Creditors can't do anything about a sovereign default...they just take it in the rear.
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Old 09-19-2011, 10:25 PM
 
5,113 posts, read 5,969,382 times
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Quote:
Originally Posted by user_id View Post
There are many examples of countries that defaulted on their loans....funny thing too....they are still around today.

Creditors can't do anything about a sovereign default...they just take it in the rear.
Not this time ... not in the age of a world economy ...

Iceland maybe but not the EU or the USA.
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Old 09-19-2011, 10:26 PM
 
Location: Conejo Valley, CA
12,460 posts, read 20,077,688 times
Reputation: 4365
Yes, this time a hole is going to be ripped in the universe and we will all get sucked in......
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Old 09-19-2011, 10:28 PM
 
5,113 posts, read 5,969,382 times
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Originally Posted by user_id View Post
Yes, this time a hole is going to be ripped in the universe and we will all get sucked in......
Some people might describe it that way
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Old 09-19-2011, 10:33 PM
 
Location: Conejo Valley, CA
12,460 posts, read 20,077,688 times
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Quote:
Originally Posted by Don9 View Post
Some people might describe it that way
Yep....and some people believe they are god.
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Old 09-19-2011, 11:02 PM
 
5,113 posts, read 5,969,382 times
Reputation: 1748
Quote:
Originally Posted by user_id View Post
Yep....and some people believe they are god.
Well lets see ... you went from "Europe will be just fine" TO "Regardless, the "debt crisis" is really a currency currency. The PIGS could resolve most of their problems by just getting off the Euro, of course the bankers don't want this because that would result in large losses for them...."

You are learning Grasshopper!
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