Comment Re:Plenty of circumstancial evidence of fraud (Score 1) 110
If those meat bags are sent dead, or don't breathe, drink, or eat along the way, it might be possible.
You could also do it with multiple launches and in-orbit assembly.
If those meat bags are sent dead, or don't breathe, drink, or eat along the way, it might be possible.
You could also do it with multiple launches and in-orbit assembly.
Nah. All they had to do was let the Greek banks fail and handle it as any other business bankruptcy. The bank assets would be resold on the market and used to repay the creditors who would then have to write down the debt on their books. Instead they're just kicking the can down the road and letting the debt snowball.
I don't hate Germany. I hate near sighted politicians. And I don't know why you think I'm Greek.
Why did you think Merkel was kowtowing to Putin regarding Ukraine? Germany has cut their armed forces substantially since the fall of the Soviet Union. Just look at the amount of Leopard 2 tanks they sold to other countries including Greece. The Germans today have less Leopard 2 tanks in their army than the Greeks!
That's why Putin can do whatever he damned pleases.
That's one of the reasons the Greeks are miffed at Germany. A large fraction of the Greek government expenses were spent in German military hardware. German military companies actively corrupted Greek government officials to get those contracts. This is documented.
Ask the Czechs and Poles why they're dragging their feet so they don't get in the Eurozone.
Fact is anyone with an economy that matters has tried to steer well clear of the Euro for quite some time now ever since the troubles started. And if countries start being ejected it will only precipitate the destruction of the Eurozone.
If only the PIIGS had done that too.
Greece has problems. But the talk they were the only ones that cheated their way into the Euro is just plain bunk. Basically everyone cheated their way into it. Germany set the rules and they were the first to break them when they started running up a deficit followed by France. Just because currently they are running up less of a deficit doesn't mean they won't the future. Do the German government think China is going to buy their stuff forever? Good luck.
The Chinese high-speed rail buildup is a good example why the Germans won't get what they want. They are always running to try to find new markets in Africa and Latin America but they will bump into already installed Chinese interests when they try to get there.
For what? The money printing?
https://www.richmondfed.org/pu...
Figure 6 pg 41. Also that chart conveniently does not show the amount of DMs they printed when they absorbed Eastern Germany. They converted Eastern German currency to DMs on a 1:1 basis when black market value was 10:1!
And the US Geological Society estimates there are around 22 billion barrels of oil in the Ionian Sea, off western Greece, and another 4 billion barrels in the northern Aegean Sea.
What would happen instead is a deflationary spiral like the one that helped cause the Great Depression.
Greece has untapped oil reserves.
The Euro had all sorts of problems. That spurious inflation on the beginning was one. As for the increase in trade it went mainly in one direction and actually exacerbated the current problem.
Do you know what caused the inflation? Germany printed a bunch of DMs before the Euro came into the market. In order to keep their inflation low, and fullfill the ERM convergence criteria, they kept the DMs stashed in the banks and kept them out of the market. Once the Euro came online they converted all these bogus DMs into Euros and flooded the market with them causing the inflation, and loaned them to countries like Greece. So effectively the Germans loaned bad money to countries like Greece and are asking for good money in goods and services as return now.
Also whoever had the idea of making a monetary union with free bank transfers with a eurozone wide deposit insurance scheme was bonkers.
Did you read that notice about the formation of the BRICS bank? It is supposed to start operating in the middle of next year. Basically the BRICS are creating the XXIst century equivalent of COMECON as a counter to the G7 nations.
Deflactionary currencies are always a bad idea. The Government (or someone) needs to be able to print money. Money is just a means of exchange for goods and services produced by people. Usually the more people you have the more goods and services you produce. Imagine everyone was using Bitcoin while the world population was increasing. What do you think would happen?
In other words cryptocurrencies are a Ponzi scheme. Plus Bitcoin is deflactionary like the man himself said.
"The four building blocks of the universe are fire, water, gravel and vinyl." -- Dave Barry