Greece Bailout & National Sovereignty

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TheCollectorsCoachShow's picture
TheCollectorsCo...
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Joined: May 6 2010
Posts: 3
Greece Bailout & National Sovereignty

Greece Bailout & National Sovereignty Part 1

Greece Bailout & National Sovereignty Part 2

Subprime JD's picture
Subprime JD
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Joined: Feb 17 2009
Posts: 562
Re: Greece Bailout & National Sovereignty

The bailout money will go to the lenders on the back of the greek people. Not going to happen, the gov will be brought down. Repudiation coming soon.

DrKrbyLuv's picture
DrKrbyLuv
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Joined: Aug 10 2008
Posts: 1995
Re: Greece Bailout & National Sovereignty

Thanks for the great videos TheCollectorsCoach

Jack does a fine job explaining that Greece gave up their right to create money and instead they must borrow it.  This is by choice not necessity and you have to ask why any government claiming to represent the people would allow such a thing to happen.  The answer is of course that Greece's government, like ours, is does NOT represent the people.  It is a puppet government that takes it's marching orders from the international banking cartel.

Jack suggests that the U.S. taxpayers will be on the hook for around 18% of the IMF bail-out while we are in very bad shape and cannot afford taking on debt to save banks in Greece.  

Through the videos a question is asked as part of a poll...should we go back on the gold standard?  I don't know if Jack and Ashley are proponents of the "gold standard" but I suspect they are.  If so, where do they suggest the U.S. get the gold and how much would be needed?

The truth is that the U.S. has very little gold - I estimate less than 3,000 metric tonnes but I am unsure as to the quality of that gold and more important, who owns it?  Even if the U.S. had the 8,000 tonnes they claim, this would not be near enough gold to support a national currency.  The U.S. would have to borrow the money to buy the gold which would make it a debt based fiat system exactly as we have now.

I would strongly suggest that Jack and Ashley look at the history of the gold standard as it has never worked for very long.  For example, the wonderful gold standard failed in 1933 causing an instant devaluation of the dollar by over 40%.  The European "gold standard" had failed by 1930.  

Thanks, hope I am wrong in suspecting that Jack and Ashley are proponents of the gold standard...

Larry

BobRiversShow's picture
BobRiversShow
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Joined: May 10 2010
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Re: Greece Bailout & National Sovereignty

Will the Greece Bailout affect your 401K?

 

Dr. Angsar Belke, Professor of Macroecomoics at the U. of Duisburg-Essen and expert from the German Institute of Econmic Research, will be a guest on The Bob Rivers Show today, May 10th at 8:35am PT, to answer that question. Tune in to KZOK 102.5 Seattle or log on to http://bobrivers.com for live streaming audio and video from the interview!

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