Greece bailout “a trillion dollars down the rat hole”

[Agorism]

Greece bailout a "trillion dollars down the rat hole. (http://finance.yahoo.com/tech-ticker/dow-tumbles-as-%22disintegration%22-fears-haunt-europe-486431.html;_ylt=Aj8_r65.RVv2wpOrFjtyvxNk7ot4;_ylu =X3oDMTE2Y2FraTBsBHBvcwMxBHNlYwNhcnRpY2xlTGlzdARzb GsDZG93dHVtYmxlc2Fz?tickers=FXE,%5EGSPC,%5EDJI,USO ,GLD,DB,VIX)

[The Patriot]

It just debases the currency throughout the Eurozone. Morgan Stanley is now saying that Germany returning to the Deustchemark is not out of the question.
http://ftalphaville.ft.com/blog/2010/05/13/230631/now-about-those-dem-rumours/

Doing so would drastically help a nation like Germany. Their national debt would be reduced overnight as their debt is held in euros, they could pay back their debt cheap, and the debt of german companies would be reduced as well as they could pay off their debts in cheaper euros. German companies could expand. German GDP would go through the roof as employment and production increased.

[ChaosControl]

A blessing in disguise if it results in the dissolution of the EU.

[The Patriot]

If Merkel and the Christian Democratic Union supported pulling out of the EMU, and returning to the Deustchemark, the positive economic effects for Germany would basically secure her party electoral victories for years to come and set a standard for another economically strong nations like the Netherlands or France to follow suit. It would also give more credibility and popularity to eurosceptic movements. You would no doubt see anti-EU parties gain seats in Brussels and in national parliaments.

[awake]

None of this crap is going to work... just let them tire themselves out.

[Brooklyn Red Leg]

Doing so would drastically help a nation like Germany. Their national debt would be reduced overnight as their debt is held in euros, they could pay back their debt cheap, and the debt of german companies would be reduced as well as they could pay off their debts in cheaper euros. German companies could expand. German GDP would go through the roof as employment and production increased.

Now, if only the united States would convert back to the US Dollar instead of The Federal Reserve Note just before switching to the gold/silver standard, we'd be in good shape too. Most of our phony debt is valued in FRNs too.

[The Patriot]

Now, if only the united States would convert back to the US Dollar instead of The Federal Reserve Note just before switching to the gold/silver standard, we'd be in good shape too. Most of our phony debt is valued in FRNs too.

Exactly, and another net positive would be a deflation of prices, positively affecting the working class and those on fixed incomes. We need to go back to gold backed US Treasury Notes. Such as...
http://www.whitenewsnow.com/images/jamie-kelso/1928-10GoldCertificate.jpg

[osan]

Exactly, and another net positive would be a deflation of prices, positively affecting the working class and those on fixed incomes. We need to go back to gold backed US Treasury Notes. Such as...


Agreed, but do not hold your breath waiting for this.

I would also point out that if and when the first real steps are taken to cut off the nuts of the Fed, do not expect them to simply sit there slack-jawed and wiating for it to happen. I hold small doubt that they will go into economic overdrive in an attempt to do two things. One will be to show those attempting to put them to the scissors who is the real boss. The other will be to scare the bejeezus out of Johnny Q. such that he will be demanding we leave the Fed as it is... or give it more power. They will not take such a threat to their position passively. They will hurt anyone up to an including just about everyone on the planet, and they most certainly can do it.

How about they put in 24-hour calls on so much of the US debt that we collapse literally over night? There are a lot of things that will have to happen virtually simultaneously in order to put the Fed down for good.

OTOH, another thought that occurs to me is that there are now so many traitors in so many high positions that ending the Fed as such might even be promoted and carried off as a "victory of the people". Their operations would then be moved into Treasury - same old shit, different offices and ostensible control, mission, etc. That would be even worse than what we have because it would all be constitutional in the purely formal sense and we'd have, at the surface in any event, no basis for challenging that particular arrangement. Any thoughts on this?

[Brooklyn Red Leg]

Any thoughts on this?

Well, if it were redeemable in gold/silver (or other precious metal) at least it MIGHT keep us from sliding head first into the precipice we're looking into now. If we simply convert to ANOTHER fiat currency, its going to simply delay the inevitable.

[The Patriot]

Agreed, but do not hold your breath waiting for this.

I would also point out that if and when the first real steps are taken to cut off the nuts of the Fed, do not expect them to simply sit there slack-jawed and wiating for it to happen. I hold small doubt that they will go into economic overdrive in an attempt to do two things. One will be to show those attempting to put them to the scissors who is the real boss. The other will be to scare the bejeezus out of Johnny Q. such that he will be demanding we leave the Fed as it is... or give it more power. They will not take such a threat to their position passively. They will hurt anyone up to an including just about everyone on the planet, and they most certainly can do it.

How about they put in 24-hour calls on so much of the US debt that we collapse literally over night? There are a lot of things that will have to happen virtually simultaneously in order to put the Fed down for good.

OTOH, another thought that occurs to me is that there are now so many traitors in so many high positions that ending the Fed as such might even be promoted and carried off as a "victory of the people". Their operations would then be moved into Treasury - same old shit, different offices and ostensible control, mission, etc. That would be even worse than what we have because it would all be constitutional in the purely formal sense and we'd have, at the surface in any event, no basis for challenging that particular arrangement. Any thoughts on this?
I would like to move to competing currencies and private mints ideally. But I highly doubt that when a Congress and Executive Branch comes to power that would support a Gold Standard and move the functions of the Fed to the Treasury would allow the traitors into positions of power. You have to remember, the President would put in place the Treasury Secretary and his Assistants, rather than private banks with shares in the Fed deciding presidents of regional banks and those presidents sitting on the FOMC who set monetary policy. We could also significantly reduce the treasury's powers to affect monetary policy. Disallow them from being a lender of last resort, disallowing them from setting interest rates etc etc.