Europe

[monster_gardener]

[AzariLoveIran]

[Alexis]

[monster_gardener]

[Endovelico]

When I am on radical mode, I tend to think things like this:

Why not have governments guarantee all bank deposits and then wipe out all other bank credits and debits? Real assets owned by the banks (from shares to bonds to foreclosed homes) should then be liquidated and the proceedings be used to keep banks functioning until they had been able to build a new credit book. Let's not forget that banks lend money created out of thin air, so that wiping that out would have practically no consequences. With much of their debt wiped out, firms could invest and individuals could consume, boosting the economy. Then one would have to make sure that banks no longer could indulge in speculative investment, and would stick to regular lending for legitimate uses.

Any reason why this wouldn't work out?...

[Colonel Sun]

[monster_gardener]

[Nonc Hilaire]

Even thinking about this in terms of national identities seems irrelevant.

The power structures extend beyond national boundaries - IMF, BIS , UN, etc.

Euro is not a cooperative venture - it is a fictitious firewall to belay losses. A combined fiat currency without combined concurrent debit makes no other sense.

[Ibrahim]

[Alexis]

[Endovelico]

[Endovelico]

[AzariLoveIran]

[Endovelico]

[monster_gardener]

[Endovelico]

Thank you, MG. But if I would decide to go through that extraordinary check list, I'm sure I would miss most of the fun... Don't worry. Portuguese manifestations are very peaceful events. Things may change in a few months time, but for now I'm not expecting any violence.

[Ibrahim]

[Hoosiernorm]

Hat tip to Doc

[Alexis]

[Alexis]

[Colonel Sun]

A note from the you can't make this up department . . .



The ECB is following the US Fed + Wall St + Congress + Admin playbook: privatize the profits and socialize the risks.

ECB to Euro taxpayers: bend over and assume the position.

[Colonel Sun]

[Ibrahim]

[AzariLoveIran]

[Colonel Sun]