Greece about to default

[LegendKiller]

You're about to get owned like a little bitch, so I'd suggest you take whatever little Rep you have and back the fuck out of the thread.

 

[Zorkorist]

Oh, okay next time just tell me you are attacking me.

-John

 

[Zorkorist]

You're about to get owned like a little bitch, so I'd suggest you take whatever little Rep you have and back the fuck out of the thread.

Fuck you.

-John

 

[LegendKiller]

Fuck you.

-John

Thought so. Bub-bye.

 

[Zorkorist]

Fuck off.

-John

 

[Zorkorist]

Eat shit.

-John

 

[Zorkorist]

You're about to get owned like a little bitch, so I'd suggest you take whatever little Rep you have and back the fuck out of the thread.

This is Greece. This is Government.

Attacking.

-John

 

[Zorkorist]

Threatening.

-John

 

[Greenman]

What actually happens if they default? Are they tossed out of the EU? It seems that would be a good thing, they could then start the presses and repay their loans with worthless paper. Can they just start printing money and say one greekmark is worth one euro?

Somebody help me out here.

 

[Zorkorist]

And broke.

-John

 

[Zorkorist]

What actually happens if they default? Are they tossed out of the EU? It seems that would be a good thing, they could then start the presses and repay their loans with worthless paper. Can they just start printing money and say one greekmark is worth one euro?

Somebody help me out here.

Life happens...

Less politics, less bankers, etc.

-John

 

[Greenman]

Life happens...

Less politics, less bankers, etc.

-John

That was somewhat less than informative.

 

[bradley]

Fuck off.

-John

Backed by the largest military in world history. It's going to be hard knocking the battery off of US shoulders like in centuries past.

The Money Masters (1996) [FULL DOCUMENTARY]
https://www.youtube.com/watch?v=iDtBSiI13fE

 

[Subyman]

What actually happens if they default? Are they tossed out of the EU? It seems that would be a good thing, they could then start the presses and repay their loans with worthless paper. Can they just start printing money and say one greekmark is worth one euro?

Somebody help me out here.

No, they can't state what their currency is worth. It will depend on what others will trade it at. After defaulting and beginning to print their own, it will be a long climb back to being worth anything.

 

[Zorkorist]

It's pretty clear that America will default the same way Greece is defaulting today.

Lot's of other countries will go before us, sure.

Doesn't make it any better for us.

-John

 

[Screech]

No, they can't state what their currency is worth. It will depend on what others will trade it at. After defaulting and beginning to print their own, it will be a long climb back to being worth anything.

Sounds like a good time to go on a vacation to greece 😉

Well, unless greece starts to look like something out of Mad Max, I suppose.....

 

[Zorkorist]

No way would I support that country by spending tourist dollars there.

Too many other countries that care about my business.

-John

 

[Screech]

The icelandic krona basically lost half of its value but their economy is recovering now (and tourism growing for obvious reasons....). Would be interesting to see what would happen if greece basically also told the banks to take a hike.

 

[LevelSea]

No way would I support that country by spending tourist dollars there.

Too many other countries that care about my business.

-John

You have no business.

 

[Zorkorist]

I have business you can't imagine.

-John

 

[Nebor]

I have business you can't imagine.

-John

Like some sort of satellite launch company that relies on hamsters to fly the rockets? You've really piqued my interest here.

 

[Zorkorist]

Quite boring, actually... a job.

But for people in Greece, a job is over-whelming.

-John

 

[nickqt]

Quite boring, actually... a job.

But for people in Greece, a job is over-whelming.

-John

You understand less about reality and economics than you do constructing a sentence.

Keep on keepin' on.

 

[alcoholbob]

Backed by the largest military in world history. It's going to be hard knocking the battery off of US shoulders like in centuries past.

As long as the military is getting paid in money that buys something. Petrodollar works for now but what about peak oil? Many empires had coupe de etats when the mercenaries they hired were no longer getting paid in money that was worth anything.

Also as your own currency declines the terms your creditors give you get harder. Colonialism was no longer viable for the British empire when the United States demanded that they had to give up trade exclusivity between their colonies, which is the only reasons colonialism can be profitable (when the colony can only trade with the mainland and at below market rates for raw materials).

 

[OverVolt]

The icelandic krona basically lost half of its value but their economy is recovering now (and tourism growing for obvious reasons....). Would be interesting to see what would happen if greece basically also told the banks to take a hike.

Iceland had no choice. The banks were in trouble far and above the GDP of iceland. Its really just a matter of scale. Here in the US it was fairly easy to recapitalize the banks. We kind of overcapitalized them honestly.