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Comments on: Selling Their Seed https://whynow.dumka.us/2011/06/23/selling-their-seed/ On-line Opinion Magazine...OK, it's a blog Fri, 24 Jun 2011 21:26:46 +0000 hourly 1 https://wordpress.org/?v=6.4.3 By: Bryan https://whynow.dumka.us/2011/06/23/selling-their-seed/comment-page-1/#comment-56876 Fri, 24 Jun 2011 21:26:46 +0000 http://whynow.dumka.us/?p=21319#comment-56876 The French bank own over half of the debt, the Germans a third. The Goldman Sachs connection was well known, and institutional investors should have known what that meant – the bonds were toxic junk – but they bought anyway because they thought they would get out before everything went to hell.

The bloody banks are all over leveraged and need to write down all of their junk assets so people will have some idea what they are really worth, but that scares the crap out of the financial criminal class.

The financial ‘wizards’ belong in prison or the poor house, like anyone else who gambles beyond their ability to pay their bills.

Greece needs to start actually enforcing its tax laws and to start throwing its wealthy elite in prison for evading their taxes, so the country can pay its bills, but that’s a separate issue.

]]> By: Kryten42 https://whynow.dumka.us/2011/06/23/selling-their-seed/comment-page-1/#comment-56871 Fri, 24 Jun 2011 14:37:56 +0000 http://whynow.dumka.us/?p=21319#comment-56871 I’ve come across some curious facts about the Greek financial crisis (which is really a European, and US, crisis).

Greece:
US$481 bln Debt
US$11 Million population

USA:
14 trillion debt
307 million population

Greece Debt: US$44,000 / capita
USA Debt: US$45,000 / capita

Greece hid their problems from the rest of the Europe by going to Goldman Sachs 10 years ago for help. GS helped Greece hide the size of the debt using Currancy Swaps. European Banks bought the bonds, but transferred the potential risk of the bonds using Credit Default Swaps. Nobody knows who got the swaps. But the best guess is US banks.

Considering Greeks get 6 weeks paid vacation per year, and get to retire @ 53 with 80% pay & benefits, I think they are not doing that badly compared to the USA. 😉 At least… they are being screwed out of something tangible they actually had. 😛 😉

It’s all a US plot to bring the World down to the American peasants (workers) subsistence level so that these American’s don’t one day realize that the rest of the World is actually better off (and I do realize that’s actually unlikely to happen… for many reasons). 😈

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