Dirk Mueller, one of the few speaking it out: the Euro (Greek) rescue packages is money irresponsibly wasted, peculated tax payers' money that nobody will ever see again in a situation that in normal circumstances, yours and mine, would be called "delay in filling bankrupcy", an act heavily enforced by penalty; this is all neglected for the sake of the banks, the banksters, who write the blueprint and dictate the conditions and are busy taking shelter.
Greece will default once all the Greek bonds and related CDS - and those of the directly related PIGS and friends- will be in the safe tax payers' hands such as the government owned insurances and all kind of public and Bad Banks led by the wonderful ECB and its national fellow players.
All governments are slaves to the banksters, the very same who started it all. James Galbreith put it right, already in 2009 - nothing has changed but got worse for the masses.
With Axel Weber out of the race for becoming ECB president and Ireland and Portugal printing more EUROs to pay their (bankster's) bills the flood gates could not be open(ed) any wider for the next rounds of Quantitative Easing... and the ongoing competition for the weakest currency showing the highest inflation. There could come a time where paying back EURO debts will be cheap...
I know it seems like currency related topics are taking over, even this blog that would rather discuss solutions to our lives' sustainability issues than what is forlorn hope, anyway; but I should, at least, mention today being a special day for Germany and the rest of Europe.
As expected China does not miss any chance to stay on top of the game and therefore will help Greece with a €3.6bn fund designated to buy Chinese ships. Interest will be ultra low, so Greece will be able to undercut international shipping rates running the latest state-of-the-art-ships even more. China gets its money back which is nothing else but those USD bonds which the US are printing, printing and again printing - in what obviously are totally uncontrolled but desperate processes (from 3 minutes in the video becomes really painful for Madame Inspector General for the Federal Reserve Coleman!):
Yes, the video dates back to 2009, March; but yes, the ECB, the BoE and the BoJ are all busy sucking up (their own) bonds, approving dozens of Bad Banks while pressing return, return, return - nothing else but the modern, though very green alternative, of printing money ponziing the scheme!
That wouldn' bother me too much; what really bothers me is the fact that while some countries seek their rescue in printing, others print and at the same time implement cuts that threaten social peace while all the custs of this world won't catch up with what is thrown into black holes and banksters' pockets.
This could all be cut short: new banks, new money, corrected rules, all said already long ago! Alone, now it needs new currencies as well! So, what's next? The longer we wait the more damage will be done.
The human races' stupidity to not being able to keep pace learning while progressing is closing in on the worst case scenario.
But then there seems to be one country on the edge of a continent, far away, one human race, that understood the rules and regulations of what it was allowed and invited to play with faster and better than all the others combined: China! The one and only global player which has now, watching its rivals' disintegration, decided to spur domestic demand to stabilise economy.
The rest is putting funny text over aging generations' hymns.
rockenergy is concerned with man made change and manipulation - from economy to ecology - and what should or should not be done; topics that will govern our lives for many years to come; topics that will be unpleasant to discuss with our children as they will ask us: "How could you?" or "Why didn't you?". Topics that we soon will be - or are already - fed up with. Becoming fed up with our very existence will not feed us, warm us, or carry us; it threatens our survival – and that of our children.
