The present Euro financial crisis

The present Euro financial crisis

Taxonomy Categories: Banks,

Someone commented on the present Euro crisis as follows:

"Methinks the problems [the Euro crisis] are being somewhat overstated
for effect. The fundamental reason for any country leaving the Euro
would be to create a currency they could create and devalue at will.
That they would simultaneously default on all Euro denominated debt
would be very likely.

However I don't consider it a terrible thing that they would be denied
credit and immediately have to balance their budget. If Argentina is
an example the government would simultaneously steal everyone's
savings. But they are working to do that anyway. And the denial of
credit would be short term. People actually lend to Argentina even
though it regularly defaults.

******The real reason the bankers won't let anyone default is they
want everyone working for them. They create Euro's, that have no
intrinsic value, in huge quantities at no cost to themselves. They
lend these Euro's to corrupt politicians and the people have to pay it
back with the sweat of their labor. Essentially the bankers are
getting slaves for nothing. That is the real reason they will keep
creating all this fake money rather than letting a captive country
leave. This is a system that has to go.****"

Faceted Search Categories: Banks,