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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (64000)	5/31/2010 10:01:21 AM
From: Kayaker	6 Recommendations Read Replies (2) \| Respond to of 217750

<< restructuring sovereign debt of Greece or Portugal NOW it will serve no constructive purpose >> It makes a HUGE difference. Greece should have been allowed to default on its debt. It's the German, Swiss, French banks that would lose, i.e., those that make the risky bets lose. Instead, they lobby the governments to backstop their idiotic loans with taxpayer dollars. It only ENCOURAGES risky lending to countries they KNOW can't afford to pay it back. The banks are the greedy ones. They would never make those loans if they knew governments and taxpayers weren't going to bail them out. Look at Eric Sprott's latest to see the ridiculous leverage of the German banks. sprott.com << just imagine the horrendous damage those speculators could inflict >> Those betting against sovereign debt (those nasty speculators) aren't the greedy ones. They are taking big risks and they won't get bailed out with taxpayer dollars if they are wrong. They shine a light on risky lending that should never have occurred in the first place.

To: Haim R. Branisteanu who wrote (64000)	5/31/2010 11:51:56 AM
From: Golconda	2 Recommendations Read Replies (1) \| Respond to of 217750

At the risk of repeating Kayakers sentiments I would say that Greece debt HAS to be restructured ie default as there is no realistic way that the €'s can ever be paid back, enriching of Soros and co. is incidental. The PIIGS are only taking corrective measures as their positions have been brought into the spotlight by nasty speculators such as Soros & co. risking their funds in the process and after all face a formidable foe in the shape of the combined central banks with all their powers in reserve. Agree the US position is no better than the PIIGS. Yes the consequences of attacks on weak economies could be horrendous but what are the consequences of continuing along the same path? Tax money is already footing the bill both in US and Euroland, where else is it going to come from, suppose the CB's could utilise their gold reserves which could be great for gold bugs, nightmare for fiat money holders and following the laws of unintended consequences absolutely wonderful for the Austrians as the CB's would be castrated. Sorry wandered of topic a bit there....