Protests in Greece

[NJS 4446]

Heres another question, which may be slightly less daft.

 

Who own all the debt? If the US is massively in debt, the Greeks, the Brits, the Irish, the Portuguese, the Spanish, the French, even the Germans etc are all in debt, to whom are they in debt to?

 

The banks? The Chinese? Who is owed the money? Lets find out an invade them....

 

The correct answer.

[Park Life 71]

Heres another question, which may be slightly less daft.

 

Who own all the debt? If the US is massively in debt, the Greeks, the Brits, the Irish, the Portuguese, the Spanish, the French, even the Germans etc are all in debt, to whom are they in debt to?

 

The banks? The Chinese? Who is owed the money? Lets find out an invade them....

 

See my ans reg nationalising banks.

 

We owe ECB and other lending agencies via bonds and whatnot...

 

China holds upwards of a trillion dollars in U.S. bonds which have to be paid back in tranches if they cash them in or summink...But America owes money all over the world, mainly China. Not ideal nuking material unfortunately...Swiss would have been better, you see AIG and USB didn't get their money back.

I was predicting the end of capitalism not really thinking it would happen, but it MIGHT. America and the Uk actually have viable economies and can dig their way out ie most of the G7, the rest are fucked.

[ChezGiven 0]

Heres another question, which may be slightly less daft.

 

Who own all the debt? If the US is massively in debt, the Greeks, the Brits, the Irish, the Portuguese, the Spanish, the French, even the Germans etc are all in debt, to whom are they in debt to?

 

The banks? The Chinese? Who is owed the money? Lets find out an invade them....

 

The correct answer.

 

Where did the banks get the money to lend in the first place?

[Park Life 71]

Heres another question, which may be slightly less daft.

 

Who own all the debt? If the US is massively in debt, the Greeks, the Brits, the Irish, the Portuguese, the Spanish, the French, even the Germans etc are all in debt, to whom are they in debt to?

 

The banks? The Chinese? Who is owed the money? Lets find out an invade them....

 

The correct answer.

 

Where did the banks get the money to lend in the first place?

 

It's made up money ie fractional banking. For every pound in interest or mortgage payments and whatnot they loan out 10 (some in America loan out 30)..So the actual money in circulation isn't really REAL, as it's based on minute core reserves. I think they just put numbers on computer screens actually and there isn't any money at all. fucked. But the best idea is to destroy whomever we owe money to be it banks, countries or hedge funds.

 

Point of interest is that when Building 7 went down it took with it all the hardcopy records of various debts sloshing around in the American system.

Edited May 6, 2010 by Park Life

[NJS 4446]

It's made up money ie fractional banking. For every pound in interest or mortgage payments and whatnot they loan out 10 (some in America loan out 30)..So the actual money in circulation isn't really REAL, as it's based on minute core reserves. I think they just put numbers on computer screens actually and there isn't any money at all. fucked. But the best idea is to destroy whomever we owe money to be it banks, countries or hedge funds.

 

Point of interest is that when Building 7 went down it took with it all the hardcopy records of various debts sloshing around in the American system.

 

This is where the root cause of the shitstorm go back to Thatcher (and Reagan I think) - they allowed retail banks to act as investment banks which meant everyone's money on the high street became that pound that was was used 30 times.

[Park Life 71]

It's made up money ie fractional banking. For every pound in interest or mortgage payments and whatnot they loan out 10 (some in America loan out 30)..So the actual money in circulation isn't really REAL, as it's based on minute core reserves. I think they just put numbers on computer screens actually and there isn't any money at all. fucked. But the best idea is to destroy whomever we owe money to be it banks, countries or hedge funds.

 

Point of interest is that when Building 7 went down it took with it all the hardcopy records of various debts sloshing around in the American system.

 

This is where the root cause of the shitstorm go back to Thatcher (and Reagan I think) - they allowed retail banks to act as investment banks which meant everyone's money on the high street became that pound that was was used 30 times.

 

Correct.

[Toonpack 10411]

It's made up money ie fractional banking. For every pound in interest or mortgage payments and whatnot they loan out 10 (some in America loan out 30)..So the actual money in circulation isn't really REAL, as it's based on minute core reserves. I think they just put numbers on computer screens actually and there isn't any money at all. fucked. But the best idea is to destroy whomever we owe money to be it banks, countries or hedge funds.

 

Point of interest is that when Building 7 went down it took with it all the hardcopy records of various debts sloshing around in the American system.

 

This is where the root cause of the shitstorm go back to Thatcher (and Reagan I think) - they allowed retail banks to act as investment banks which meant everyone's money on the high street became that pound that was was used 30 times.

 

Correct.

 

Ergo - the debt's not real so just write it off

[ChezGiven 0]

Actually, who owes who is a bit more complicated than that.

 

Here is a nice diagram explaining the inter-dependency of European debt.

 

http://www.nytimes.com/interactive/2010/05...ew/02marsh.html

 

Frightening.

[Rob W 0]

awesome graphic

[Rob W 0]

It's made up money ie fractional banking. For every pound in interest or mortgage payments and whatnot they loan out 10 (some in America loan out 30)..So the actual money in circulation isn't really REAL, as it's based on minute core reserves. I think they just put numbers on computer screens actually and there isn't any money at all. fucked. But the best idea is to destroy whomever we owe money to be it banks, countries or hedge funds.

 

Point of interest is that when Building 7 went down it took with it all the hardcopy records of various debts sloshing around in the American system.

 

This is where the root cause of the shitstorm go back to Thatcher (and Reagan I think) - they allowed retail banks to act as investment banks which meant everyone's money on the high street became that pound that was was used 30 times.

 

Correct.

 

Ergo - the debt's not real so just write it off

 

 

except that the banks that have your cash and own your mortgage depend on the fees they make from those dodgy loans to stay afloat

[Park Life 71]

Actually, who owes who is a bit more complicated than that.

 

Here is a nice diagram explaining the inter-dependency of European debt.

 

http://www.nytimes.com/interactive/2010/05...ew/02marsh.html

 

Frightening.

 

Greek debt in isolation.

 

[Park Life 71]

Actually, who owes who is a bit more complicated than that.

 

Here is a nice diagram explaining the inter-dependency of European debt.

 

http://www.nytimes.com/interactive/2010/05...ew/02marsh.html

 

Frightening.

 

Not for us really our GDp in 2008 was 2.67 TRILLION DOLLAH.

[ChezGiven 0]

The important bit is the 10bn owed by Greece to Portugal, the 86bn owed by Portugal to Spain. Then look at Spain.

 

Sheeeeeeeet.

 

From the related NYT article

 

"Solutions are also not easily forthcoming. “In the end, we’re all saying we don’t know how to deal with it,” said Dirk Hoffmann-Becking, a bank analyst with Alliance Bernstein in London. “We don’t know how the channels work, or where the problems will pop up next.”

 

Fuck me.

[Park Life 71]

It's made up money ie fractional banking. For every pound in interest or mortgage payments and whatnot they loan out 10 (some in America loan out 30)..So the actual money in circulation isn't really REAL, as it's based on minute core reserves. I think they just put numbers on computer screens actually and there isn't any money at all. fucked. But the best idea is to destroy whomever we owe money to be it banks, countries or hedge funds.

 

Point of interest is that when Building 7 went down it took with it all the hardcopy records of various debts sloshing around in the American system.

 

This is where the root cause of the shitstorm go back to Thatcher (and Reagan I think) - they allowed retail banks to act as investment banks which meant everyone's money on the high street became that pound that was was used 30 times.

 

Correct.

 

Ergo - the debt's not real so just write it off

 

 

except that the banks that have your cash and own your mortgage depend on the fees they make from those dodgy loans to stay afloat

 

Bank goes down you keep the house iirc. [/Publawyer]

[Park Life 71]

The important bit is the 10bn owed by Greece to Portugal, the 86bn owed by Portugal to Spain. Then look at Spain.

 

Sheeeeeeeet.

 

From the related NYT article

 

"Solutions are also not easily forthcoming. “In the end, we’re all saying we don’t know how to deal with it,” said Dirk Hoffmann-Becking, a bank analyst with Alliance Bernstein in London. “We don’t know how the channels work, or where the problems will pop up next.”

 

Fuck me.

 

Tbf I have been predicting it for 2 years now.

[Rob W 0]

Portugual and Greece are small fry and expendable but Spain......................................... oh dear....................

[Park Life 71]

Portugual and Greece are small fry and expendable but Spain......................................... oh dear....................

 

Agreed. If Spain doesn't hold that's the end of the Euro. Keep hold of dem pounds fellas.

 

3Eu to the pound before long.

[Park Life 71]

Actually, who owes who is a bit more complicated than that.

 

Here is a nice diagram explaining the inter-dependency of European debt.

 

http://www.nytimes.com/interactive/2010/05...ew/02marsh.html

 

Frightening.

 

Basically France is owed roughly 900billion. By the weakest EU states. Fehked!

[Dr Kenneth Noisewater 0]

Apparently if you got a job in the Greek civil service you were guaranteed a job for life. If your position disappeared they would create another one for you.

You got a bonus for turning up on time.

You got a bonus for using the computer they gave you.

You could take your pension at 45! (Bearing in mind these Mediterranean types live to be about 120)

 

No wonder their country is fucked.

[NJS 4446]

Basically France is owed roughly 900billion. By the weakest EU states. Fehked!

 

I would be interesting to see who would come out best if the whole lot was just cancelled on all sides and the banks started again with just the customer deposits which had been guaranteed.

[Toonpack 10411]

It's made up money ie fractional banking. For every pound in interest or mortgage payments and whatnot they loan out 10 (some in America loan out 30)..So the actual money in circulation isn't really REAL, as it's based on minute core reserves. I think they just put numbers on computer screens actually and there isn't any money at all. fucked. But the best idea is to destroy whomever we owe money to be it banks, countries or hedge funds.

 

Point of interest is that when Building 7 went down it took with it all the hardcopy records of various debts sloshing around in the American system.

 

This is where the root cause of the shitstorm go back to Thatcher (and Reagan I think) - they allowed retail banks to act as investment banks which meant everyone's money on the high street became that pound that was was used 30 times.

 

Correct.

 

Ergo - the debt's not real so just write it off

 

 

except that the banks that have your cash and own your mortgage depend on the fees they make from those dodgy loans to stay afloat

 

They lend not real money to make the money that keeps them being able to lend not real money for the fees.

 

So fuck em, I'll keep the hoose thank you very much.

 

Write it all off, it's never ever going to be repaid, chucking more ficticious dosh at them, which also won't be repaid is futile

[Toonpack 10411]

Basically France is owed roughly 900billion. By the weakest EU states. Fehked!

 

I would be interesting to see who would come out best if the whole lot was just cancelled on all sides and the banks started again with just the customer deposits which had been guaranteed.

 

 

My point exactly, but no-one will ever do that sum. Way too many bankers/beurocrats'd not have jobs juggling the pretendy money around

Edited May 6, 2010 by Toonpack

[Guest alex]

In the unusual position of agreeing with TP here.

[Toonpack 10411]

In the unusual position of agreeing with TP here.

 

 

Splendid, can we bomb the Middle East now please (I'll settle for nuking Afghanistan)

[Guest alex]

In the unusual position of agreeing with TP here.

 

 

Splendid, can we bomb the Middle East now please (I'll settle for nuking Afghanistan)

The Christian Right don't normally feel the need to ask