Mcatter
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It seems to me that Brussels maintains authoritarian rule over its members via the press and courts. It has successfully survived the Scottish NO vote, thwarted the separatist movements in Spain with favourable court rulings preventing separation, they some had Berlusconi removed from office after he threatened to pull out of the Euro. Now they say that even if the No wins, the referendum is illegal and will not be accepted as the referendum was not given enough time from its announcement to vote.
No offense to the Greek people, but you are blind if you cannot see that you are being manipulated into a life of debt servitude. You are being controlled by an unelected body in Brussels. Are you that ignorant not to be able to understand what is happening to your country? You are going to face hardship with whatever decision you make, at least take control of the situation and fix the problem NOW! Although it seems clear the Yes will prevail, your hardships will continue for much much longer than is required, sad but true!
Can you tell me how it was that Germany was able to transfer the Greek debt from German Banks back on to the Greeks. What was the transfer mechanism? Is it all back in Greece or is it held by the ECB?
They would be wise to get rid of their currency and create the worlds first digital currency controlled by the Central Bank using the blockchain technology. The could control credit issuance, cut costs while having a eye on every transaction. They could then move to eliminate taxes and implement a consumption tax which would eliminate non taxed transactions. The Bank of England, in a report in September 2014, described the blockchain’s open ledger as a “significant innovation” that could transform the financial system more generally.
https://www.reuters.com/article/2015/03/12/us-bitcoin-ibm-idUSKBN0M82KB20150312
It will be interesting to see what the impact will be on the Canadian Economy and more specifically, the Canadian housing market which has been on a tear for the past 6 years. Canadians now have the highest debt levels on record. Canadian Banks have had the wind at their backs for years. They are found in almost every Canadian investors portfolio – have they shielded themselves from the oil and real estate sectors problems?
The Fed is well aware of the EM crisis it has spawned with its QE.No wonder US long bonds continues to rally hard … where else do you hide out? But how long can they go on with this charade and when will markets eventually lose confidence in the Feds ability to talk its way around the inevitable. Does the debt crisis hit in 2015, 16 or 17. Can they postpone it that long and can equities continue to rally under what appears to be a perpetual zero rate world? It could rally another 20-100% before this debt ponzi unravels.
Something’s gotta give sooner or later….any thoughts?
