"I found it peculiar that even though the Americans have significantly worse fundamental data than the euro zone that they tell us what we should do and when we make a suggestion ... that they say no straight away,"They say they don't need his lectures, and they're probably right. They seem to be doing a hell of a job on their own, although they will gladly accept our money to keep the scheme afloat awhile longer.
The latest round of American financial assistance came Thursday with a promise by the Federal Reserve to swap as many dollars for euros as European bankers need.Make no mistake. This is a Banker Bailout, at US Taxpayer Expense
We The Taxpayer will pay for this by paying more for everything as the value of the dollar continues to erode:
But over the long term, consumers could feel the impact of central bankers flooding the financial system with cash, according to John Ryding, chief economist at RDQ Economics.If Greece and other unstable economies collapse, Goldman Sachs and their international partners in crime would suffer catastrophic losses, and we can't have that! So you and I watch our savings continue to be eaten away by these rats and cockroaches, while prices climb, all so Tiny Tim can send Europe all the dollars it needs.
They are propping up a rotting edifice. The foundation has been eroded by rent-seeking rats and moral relativists. The walls are shot through and the roof is sagging, threatening to fall in at any moment.
Collapse is inevitable. Maybe all at once, or maybe piece by piece. A credible argument can be made that it has already started. Does anyone in their right mind really think Greece, Greece! can pay all that money back? Really?
The Economist explains The Cost of Break-Up. Experts conclude that more borrowing is the only answer.
It is a bad sign when the only remedy the wizards can come up with is more of what got you in trouble in the first place.
Bloomberg - End The Fed's Dual Mandate
