[AgentR11]

$this->bbcode_second_pass_quote('Revi', ' ')the thing to do is to get out with some cash if you can soon.

[Loki]

$this->bbcode_second_pass_quote('', 'Y')ou wake up one morning, and the treasury guy says, "the number's we're using are stupid, behold the mdol, all your balances have been converted overnight, at the rate of 1 mdol = 1,000,000 USD.

[AgentR11]

I wasn't suggesting one day you would be making 10 Dolllars / hr and then the next 10 mdol; more like a steady increase over time, if it became necessary; and then when the numbers get stupid after a while, you just bump the decimal and give it a name.

Right now though, the bankers seem to be winning the war on non-food/fuel inflation, and keeping wages static for the working class; eventually something will give, but I think there's a lot more give that the working class can fork over, than the working class currently thinks they can fork over.

Crank that thumbscrew babes!

[americandream]

$this->bbcode_second_pass_quote('radon', 'T')he ECB lending directly to Greece/Italy can immediately be renamed into the Soviet European Union Ministry of Finance. And the situation will be similar to the late Soviet Union - bankrupt southern rim and the donor northern core, unwilling to go on financing the south.

[radon]

$this->bbcode_second_pass_quote('americandream', '
')Not really. The USSR was socialised wealth bankrupted by private wealth. The current crisis is private wealth stealing from socialised wealth (again). Can you see the difference?

It is no wonder that the West still fears the Russians. The ex-Soviets know only too well what is afoot. And they also realise that bumblekins such as yourself...

[Quinny]

I understand the transfer of risk, and as Pops article says much of the money is not directly invested back (what it's 'used' for is another question).

As well as propping up the banks, the other crazy thing is that commissions are usually paid on value of bond transaction not on 'profitability' so brokers involved are pocketing massive bonuses for basically re-cycling public money.

The points re sovereign default vs control are valid whether or not intermediaries are involved. With banker appointed puppet leaders which nation can truly be described as sovereign nowadays?

[americandream]

$this->bbcode_second_pass_quote('Quinny', 'I') understand the transfer of risk, and as Pops article says much of the money is not directly invested back (what it's 'used' for is another question).

As well as propping up the banks, the other crazy thing is that commissions are usually paid on value of bond transaction not on 'profitability' so brokers involved are pocketing massive bonuses for basically re-cycling public money.

The points re sovereign default vs control are valid whether or not intermediaries are involved. With banker appointed puppet leaders which nation can truly be described as sovereign nowadays?

[rangerone314]

I don't think that globalism is an essential step for mankind anymore than I think we need the inevitable trillionaires that would eventually result.

Of course with varying government predictions for sometime between 2015 and 2017, for oil production to nosedive, may be a moot question. Globalization will go back to merely being international trade via wooden ships in the 22nd century. Of course global warming will seriously f**c up existing ports, but I guess they'll have to find new ones.

[americandream]

$this->bbcode_second_pass_quote('rangerone314', 'I') don't think that globalism is an essential step for mankind anymore than I think we need the inevitable trillionaires that would eventually result.

Of course with varying government predictions for sometime between 2015 and 2017, for oil production to nosedive, may be a moot question. Globalization will go back to merely being international trade via wooden ships in the 22nd century. Of course global warming will seriously f**c up existing ports, but I guess they'll have to find new ones.