MAJOR NEWS IN GREECE!!!

http://12160.info/page/2-live-stream-greece-protest?xg_source=shorten_twitter

What happens in Greece has worldwide ramifications. Do they honor the debt or default? The rest of the world may well follow their lead.

3 Comments

  1. Joey Zorba said,

    02/12/2012 at 11:19 AM

    The problem with the default is the 100 trillion in CDFs (derivatives) that will have to paid for when the Greek Bonds are worthless. Even with that being said, a default now is the only way. Without default, the hole gets dug deeper and deeper making the ultimate crash much harder. You can’t borrow your way out of debt.

    • Robert H. said,

      02/12/2012 at 11:34 AM

      The question seems to be: will there be an orderly default? The CDF’s are the elephant in the room and it will be interesting to see what the people decide. Should the Geek people be held responsible for debt they had no control over, do they consider themselves responsible, etc. Will the Greek government continue? The answers may very well prove to be a lens on what will occur when the rest of the world faces the reality that is.

      • Joey Zorba said,

        02/12/2012 at 6:08 PM

        It’s hard to image a potentiality in Greece that includes orderly default. If the streets of Greece now are any window into the future, then I’d bet that violence will be the staple, as with most revolutions. They have good reason to be mad as hell. The IMF has replaced their democratically elected Prime Minister with a Bankster dictator (as well as in Italy). Of course, they do this in the name of bypassing political deadlock in Greece. However, in the process, they’ve destroyed Greece’s sovereignty and any possibility of political resolution guided by the people. They’re being forced against a wall. Their choice is 1. take the pain inflicted by an IMF placed dictator as their debt continues to grow or 2. revolt and default – take back their sovereignty, their money, and their fate. The people’s choice should be clear, but the oligarchs with the “puppet power” can’t politically survive a blow as devastating to the banks as the massive derivatives bubble bursting. These IMF “solutions” are nation and people killers. The situation in Greece should be a great warning to all who value their national sovereignty and liberty. People of the world, sleep with one eye opened.


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