Whatever will come out of it

Friedrich Dominicus — Thu, 21 Jul 2011 05:42:00 GMT

will be a catastrophe.

I don't know how many times we now have to read about "saving" Greek and the szenarios get more devastating with evey try. Just for the flat lie: "We must save Greece otherwise hell will break loose"

There is not other word for that than black-mailing. I wrote about it yesterday and now it's that all politicians do it. And that is so disgusting, that no word really is unfriendly enough to describe that.

The possibilities are obvious. Given another round of this time more cheaper credits to "buy" older more expensive credits back. Even that can not work. If one does not sell one's bonds, one has will get back 100% of it, but in a default. One can say well if I can sell now for 50% of it's value I' do that. So be it but there will always be people not doing it. So what?

So in fact there is no way to get out of it without defaulting. But even then the papers still are "valid" claims. So Greece will not get any money from the capital markets and still is unable to get along without any other debt. They will need transfer payments and this just is illegal. There's not legitimated government in Euro land and sorry, we see it everywhere transfer payments simple do not work. The only way for the Greek is, cutting down their expenses to their income. Anything which does not follow that is just stealing. We will not help them while taking more of their expenses on our invoice.

I'd put no pressure in any way on the Greek. I just would deny them any further credit. There is no "right" to get credit in any law. We can help if they want but for that they have to take the first steps, we just have to wait. If the actions will be sound, people will invest in Greece if not, so be it. It's their land, ain't it?

Here's what I think will come from it. They will tell us Greece will get the hardest imaginable conditions, and that it's our duty to help. Otherwise Greece and short after EU will get to hell. We'll offer another few hundred billions for them and will hear there's no choice. We'll hear that the private sector will have to bear some of the costs also and they will look into the camera with puppy-eyes like a dog. And say we fight for the EU citizens against the speculates. We have to ..

The have to because they are absolutly clueless or even worth they do not want to miss one strip of their power an dictatorship. Bastards is much to friendly phrase for them, they are looters, and sorry I can not help it assholes.

Newest EU attack on your purse

Friedrich Dominicus — Sun, 28 Nov 2010 07:17:00 GMT

Just imagine all EU countries have collected more debts than ever in history. Greece has manipulated data to be part of this system. And what did we do we sanctioned their doing. Now imagine, I'm stealing your money, we go to court and you have to learn. Well yes I had all the rights to betray you. What would you think about such kind of system? Now the Irish want to get another 85 Billion from us. It was one of the soundest systems before the governement decided to "fail" out their banks, I can not see who has put some pistol on their chest saying. "you must keep your banks afloat". Well you know the argument "there was/is/willnever be a choice. That simply is a lie. The money for Greece was illegal, there were (and btw. still are laws) which forbid this kind of "credits". So the choice with Greek was. "Doing nothing". The choice for the Irish government was "doing nothing". And in both cases this would have been the better choice. It surely would have signaled to everyone. "you can earn as much money as you like, but you can loose as much as easily". Now the signal is to every bank or corporation. "Grow as large as possible don't put any considerations ons sustainability. If it comes bad, you can held a whole country as hostage.". What do you think would stop the death-spriral?

F Dominicus Blog : Greek

Whatever will come out of it

Newest EU attack on your purse