Greece tells banking cartel STICK IT

[sealybobo]

Too big to fail my f****** ass. Greek wallstreet shipping giants and bankers. Divide and conquer. First Greece actually before Greece it was France and the middle East and Detroit and Puerto Rico. The bankers are getting what they want. The rich are winning this war. Meanwhile they tell us no war is being waged. Worse they claim its us waging war on them. A war we are losing.

I may be a lot more optimistic this year then I was in years past but I am certainly not going back to the Republican Party. haven't been there since Reagan and that was his first term

The bankers aren't getting what they want with Greece, Detroit, Puerto Rico, etc. Banks want to get paid back and earn interest. Those jurisdictions aren't paying them back.

Don't worry about them. They'll get their money back and yours

 

[Mad Scientist]

Imagine that you couldn't make your car payment and the Loan Company wanted to repossess it in Greek Bailout Terms:

We're here to repo yer car, unless we can work something out?
Ok what?
We extend the loan from 5 years to 10 and we put a tax on everyone that rides along with you.
Uh, what?
Anyone that rides with you will be taxed per mile. Think of it as a "Tourist Tax" or a "Value Added Tax".
Uh, then I couldn't take anybody along with me! No one would want to pay the Tax! Then I'd REALLY be in a hole!
Yeah, that's the goal!

 

[Mad Scientist]

Retard alert, You borrow money you pay it back. Anything less is theft. Greece needs to stop paying people not to work and paying it's legal debt.

Retard alert. If Greece cant pay the debt then it must be forgiven (This is Biblical). You can't expect the citizens of ANY country to be made Debt Slaves forever.

Iceland went after the Bankers and they found out they really only owed about 5% of what the Bankers wanted them to pay back.

I'm sure its the same with Greece.

 

[The Rabbi]

You don't understand how government works. You realize that Congress writes legislation, and the President signs bills written by Congress into law?

Correct. What legislation has the GOP House, under Boehner, written to raise revenue toward paying off the debt?

They've had since 2011.

They have written continuing resolutions, which the president has signed into law. So to say the President "hasn't spent anything", is patently false.

Are you talking about bills to fund the people's government?

Or are you talking about big money Obama projects that cost trillions? Because there aren't any of those.

Continuing Resolutions to fund the government cost trillions, and Obama signs them.

Seven and half trillion dollars in debt since he entered office is a "big money project".

Funding the government isn't what got us to $17 trillion.

And don't expect me to explain it all to you. That's been done enough, with factual links to back them up.

Use own damn Google to find out how much the unpaid-for tax cuts cost, the unpaid-for war in Iraq cost, the unpaid-for war in Afghanistan cost, the unpaid-for Medicare D cost, and the unpaid-for 2002 stimulus cost.

Gee all those were under Bush and when he left office the debt was $10T and now its $18T. It's like Obama did nothing for 7 years!

 

[The Rabbi]

Too big to fail my f****** ass. Greek wallstreet shipping giants and bankers. Divide and conquer. First Greece actually before Greece it was France and the middle East and Detroit and Puerto Rico. The bankers are getting what they want. The rich are winning this war. Meanwhile they tell us no war is being waged. Worse they claim its us waging war on them. A war we are losing.

I may be a lot more optimistic this year then I was in years past but I am certainly not going back to the Republican Party. haven't been there since Reagan and that was his first term

The bankers aren't getting what they want with Greece, Detroit, Puerto Rico, etc. Banks want to get paid back and earn interest. Those jurisdictions aren't paying them back.

The banks were largely paid off in previous bail outs by the IMF et all. They wont suffer much in this. People have seen it coming for some time.

 

[SAYIT]

Imagine that you couldn't make your car payment and the Loan Company wanted to repossess it in Greek Bailout Terms:

We're here to repo yer car, unless we can work something out?
Ok what?
We extend the loan from 5 years to 10 and we put a tax on everyone that rides along with you.
Uh, what?
Anyone that rides with you will be taxed per mile. Think of it as a "Tourist Tax" or a "Value Added Tax".
Uh, then I couldn't take anybody along with me! No one would want to pay the Tax! Then I'd REALLY be in a hole!
Yeah, that's the goal!

Of course, in your analogy the creditor can snag the car and recover some or all of the deadbeat's debt. In the case of Greece there is nothing to repo.

 

[Grizz]

Kids the Banks are preparing to seize depositors money. There is no free ride.

 

[The Rabbi]

Kids the Banks are preparing to seize depositors money. There is no free ride.

I have seen no evidence of that, although I wouldnt put it past them
Greece is unsustainable. It will require nothing short of revolution to fix the problem.

 

[Mad Scientist]

Of course, in your analogy the creditor can snag the car and recover some or all of the deadbeat's debt. In the case of Greece there is nothing to repo.

You miss the point.

The Creditor doesn't want to repo the car because that would be the end of it. What the Creditor wants is to make that person, in this case the entire country of Greece, debt slaves.

This is why the Greeks voted no.

 

[Mad Scientist]

Kids the Banks are preparing to seize depositors money. There is no free ride.

I have seen no evidence of that, although I wouldnt put it past them
Greece is unsustainable. It will require nothing short of revolution to fix the problem.

Iceland didn't need a revolution. They just audited and kicked out the bankers. Turns out 90% of the debt the Banks SAID they owed wasn't theirs at all.

 

[Katzndogz]

Kids the Banks are preparing to seize depositors money. There is no free ride.

The banks aren't seizing the depositor's funds. The government is seizing the depositor's funds from the banks. This is what Cypress did. The government just took all the money.

 

[Grizz]

Kids the Banks are preparing to seize depositors money. There is no free ride.

I have seen no evidence of that, although I wouldnt put it past them
Greece is unsustainable. It will require nothing short of revolution to fix the problem.

Just google "bail in", I'd post it but I'm on my phone

 

[Mad Scientist]

Bail Out: Banks get Money from Federal Reserve. Taxpayers get the Bill.
Bail In: Banks take depositors money from Banks. Taxpayers get the Bill AND Depositors LOSE their money!.

Via ZeroHedge:

Hint: The Depositor has his hands up.

Coming soon to America.

 

[Grizz]

Kids the Banks are preparing to seize depositors money. There is no free ride.

The banks aren't seizing the depositor's funds. The government is seizing the depositor's funds from the banks. This is what Cypress did. The government just took all the money.

Thank you, point being they are going to take the people's money, there is no free ride as the OP suggests. This is my problem with many people on the Left, they never weigh the consequences.

 

[The Rabbi]

Kids the Banks are preparing to seize depositors money. There is no free ride.

I have seen no evidence of that, although I wouldnt put it past them
Greece is unsustainable. It will require nothing short of revolution to fix the problem.

Iceland didn't need a revolution. They just audited and kicked out the bankers. Turns out 90% of the debt the Banks SAID they owed wasn't theirs at all.

Iceland=/Greece.
Next.

 

[The Rabbi]

Kids the Banks are preparing to seize depositors money. There is no free ride.

I have seen no evidence of that, although I wouldnt put it past them
Greece is unsustainable. It will require nothing short of revolution to fix the problem.

Just google "bail in", I'd post it but I'm on my phone

http://www.ft.com/cms/s/0/9963b74c-219c-11e5-aa5a-398b2169cf79.html#axzz3fE66k1IP

 

[Steinlight]

You don't understand how government works. You realize that Congress writes legislation, and the President signs bills written by Congress into law?

Correct. What legislation has the GOP House, under Boehner, written to raise revenue toward paying off the debt?

They've had since 2011.

They have written continuing resolutions, which the president has signed into law. So to say the President "hasn't spent anything", is patently false.

Are you talking about bills to fund the people's government?

Or are you talking about big money Obama projects that cost trillions? Because there aren't any of those.

Continuing Resolutions to fund the government cost trillions, and Obama signs them.

Seven and half trillion dollars in debt since he entered office is a "big money project".

Funding the government isn't what got us to $17 trillion.

And don't expect me to explain it all to you. That's been done enough, with factual links to back them up.

Use own damn Google to find out how much the unpaid-for tax cuts cost, the unpaid-for war in Iraq cost, the unpaid-for war in Afghanistan cost, the unpaid-for Medicare D cost, and the unpaid-for 2002 stimulus cost.

You don't get into debt by not spending. You get into debt by spending money you don't have.

You are an incredibly unintelligent person. On one hand, you seriously claim that spending doesn't cause debt. Than you cite examples of massive sending like entitlement expanding and the Iraq war. Cognitive dissonance much?

 

[IsaacNewton]

Greece voted down the knife that international banks had to their throat.

The Greeks are looking at tough times no matter how they voted, so the birthplace of Democracy kicked the fascist international banks in the face and they've said in one loud voice you aren't going to turn us into slaves.
Now those very banks will be FORCED to negotiate a more equitable settlement and payment package because they have no choice

For Europe to even put the oldest democracy in such jeopardy, while insane entities like Isis watch, is beyond unforgivable. You can't squeeze blood from an orange. No matter what, the various financial institutions HAVE to work out a deal with the Greeks.

I applaud the Greeks for standing their ground. They will climb out of this financial disaster, like America has had to climb out of the Bush/Republican financial disaster handed to it in 2008, and come out whole.

What they did today was give notice that you 'don't f#$k with democracy'.

^^^ What an incredibly ignorant post. ^^^

First off, the Greek Government conspired to join the EU. They never should have done it in the first place. But they used debt to cover their tax receipts to spending gap. Even without paying any interest payment at all, they would still be running a deficit. This is the problem that Mob Rule Democracy creates - redistribution of income combined with a moribund economy. Greek's current debt to GDP ratio is 177%.

The U.S. is heading towards a much bigger Greek-style meltdown. Under Obama's rule, our debt has exploded. That is hardly climbing out of the BIPARTISAN 2008 financial crisis. We just mortgaged the future for a temporary respite.

And what does the Greek decision mean for the Greeks who voted for it: worse austerity as they can no longer borrow money to make up for the lack of tax receipts. IF they reform their government to reduce spending, they'll be better off - but that is a Big IF.

One other consideration: What do they do for MONEY without the Euro?

I said in the original post, Greece has tough times ahead no matter how they voted. That is a given. They will have to get their financial house in order and they will.

.

There should be a Constitutional amendment so Congress can never borrow so much.

But a sovereign nation is never going to allow someone to hold a knife to its throat and tell them what to do, unless the knife is a bayonet at the end of a rifle.

Greece and the rest of Europe will have to get this figured out, and they will. If they don't, if the Eurozone kicks Greece out then likely the Eurozone and the Euro will also slowly fall apart. And as I noted in earlier posts the bad players around the world see how western democracies treat each other at such times. It DOES matter.

I don't know how you realistically conclude that Greece will simply sort itself out, as if that were no problem at all. It won't. It needs to get out of a currency it cannot keep up with. No reason to claim that the Eurozone will fail because its tiny member did. In fact I think that squeezing the failures out will strengthen the Euro.

Western democracies owe each other zilch. Bad players as you call them can actually udnerstand that it makes no sense to throw good money after bad. I don't see Putin rushing in to save the Greeks, or China for that matter.

Its easy, when you have no choice you figure it out. The other nations in the Eurozone are already talking to Greece on how to fix things. No one has a choice. And yes, if Greece is forced to leave the Eurozone it will slowly break apart, all you have to do is watch the financial networks and European news networks.

"Bad players as you call them can actually udnerstand that it makes no sense to throw good money after bad." Your level of naivete is stunning.

 

[SAYIT]

Of course, in your analogy the creditor can snag the car and recover some or all of the deadbeat's debt. In the case of Greece there is nothing to repo.

You miss the point.

The Creditor doesn't want to repo the car because that would be the end of it. What the Creditor wants is to make that person, in this case the entire country of Greece, debt slaves.

This is why the Greeks voted no.

You just don't get it. THERE IS NO CAR (nor anything else) to repossess. Greece borrowed from its neighbors on its good name as a sovereign European State and fellow EZ member. They signed on to the agreements and promised to use the money to grow their economy so as to repay their benefactors and create domestic prosperity. Greece lied, cheated and with their recent default on the IMF loan, have stolen. I take it you are a card-carrying member of their socialist (gimme, gimme, gimme) club.

 

[Mad Scientist]

Just 10% went to the Greek People, the rest went to the Bankers.

http://www.keeptalkinggreece.com/20...eeces-bailout-money-go-mostly-to-the-lenders/