The Care and Feeding of a Financial Black Hole
If the black hole does succeed in sucking in Greece, then which country is next? Will it be Italy, Spain or Portugal? And, as that process continues, at what point will enough people say that enough is...
View ArticleThe bank holidays in Greece are no holiday at all
The history behind the familiar concept of the European “bank holiday” dates back to 1871, when the Bank Holidays Act was passed in the United Kingdom. It established four days each year when banks...
View ArticleAthens Agonistes: Troika Extremists Write New Greek Tragedy
The people of Greece are being driven to their knees by a gang of brutal religious extremists, willing to destroy whole nations for the sake of something that doesn't even exist. Yet the 'civilized'...
View ArticleGreek Referendum on IMF Ultimatum
This is a test. Will the internationalist banksters force extraction of their ill-gotten interest payments to bail out their reckless derivative trades gone wrong, or will a sovereign country abandon...
View ArticleGreece’s Downfall and Redemption
Decades of exorbitant military spending account for Greece’s present downfall under an Olympian-sized debt. European governments and news media portray the problem of Greece’s financial woes as public...
View ArticleGreek Prime Minister Confirms Referendum Will Go Forward
Polls suggest Greek citizens support the government in its stance against the Troika. In a televised address Wednesday, Greek Prime Minister Alexis Tsipras confirmed his government will push ahead with...
View ArticleEU dismisses Greek referendum as ‘not legally correct’
Greece’s referendum was not “legally correct”, the European Commission has declared. Valdis Dombrovskis, the Latvian-born EU vice president responsible for the euro, said the vote had “complicated” the...
View ArticleUkraine Already in Default – Ex-Minister
Ukrainian authorities are trying to restructure the state debt, which means that Ukraine’s default is already happening, ex-finance minister Viktor Pynzennik admitted on Saturday.
View ArticleTrumping the Federal Debt Without Playing the Default Card
In short, the sovereign debt crisis can be solved by issuing sovereign money. But is there really such a thing as a free lunch? Wouldn’t buying up the debt with newly-issued money lead to a...
View ArticleRussia’s Ultimate Lethal Weapon
Imagine Russia defaulting on all its foreign debt – over $700 billion – on which Western sanctions have raised extra, punitive costs in terms of repayment. The default would be payback for the twin...
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