roman_mir's Journal: Greeks are in a government noose, the debt chair is shaking under their feet.

I believe I found a perfect metaphor for what is happening in Greece. They are being hanged, the noose on their necks is their government. The chair under their legs is the debt.

Eventually the government will tighten on their necks completely and the chair of debt will be kicked from under them.

This is the position Greeks are in today and yet just 2 years ago nobody even spoke of Greece. How deep is this rat hole? Well, it's very deep for Greece. But that's a rat hole with the light shining into it. What are the other rat holes where the light is not shine yet? USA is a much deeper rat hole and the light that will shine into it can be a beam of light that Iran is preparing to light up on the 20th of March 2012, when it supposedly will announce that it will no longer be pricing oil in US dollars but instead will price it in whatever other currency, and maybe even gold, because Iran has been in talks with India, talking about exchanging oil for gold, thus gold becoming de-facto money on national level again.

That is why the is all this sable rattling going around Iran - the US is trying to keep the beam of light off.

As to Greeks - they really needed to kick their government as a bad habit, default on their debts and stay in the Euro zone. Force all the bond holders accept total bankruptcy (I used to think they should have just trimmed the hair by 60-70%, but it looks like they have nothing at all, not even that right now unless they start selling off their lands). Greece does have 100 metric tons of gold in custody of Germany, well, I wonder if they can even get that money back, not if they default completely they won't, but they need to do this.

They need to kick their government, over 98% of government officials will lose their jobs and that should be done. All government payments stop because government is bankrupt, it cannot pay. Instead of doing that, the Greeks have allowed their government to accept a deal where Greeks are forced to repay back some amount of their debt, maybe 30%, but they have no money, so this is going to be a long time for the Greeks to work and pay that off.

Anyway, the people of Greece are hurting now, but this is absolutely necessary. If they don't hurt now, the only thing that will happen is that the chair of debt will be made taller and the government noose on the neck of the nation will become tighter.

Kick the noose of the neck and jump off the chair.