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

To: carranza2 who wrote (90711)	5/29/2012 10:42:01 AM
From: TobagoJack	Read Replies (2) \| Respond to of 218201

In the mean time, hold off giggling and uproarious mirth as you read just in in-tray mineweb.com

To: carranza2 who wrote (90711)	5/29/2012 3:08:30 PM
From: Maurice Winn	2 Recommendations Read Replies (1) \| Respond to of 218201

C2, there's nothing wrong with a euro for Europe. Of course they should have a single currency. It was highly annoying to live there and have to deal a dozen different containers of cash and pay exchange rates with the usual high spreads every time we went for a drive somewhere. Not only is there nothing wrong with a euro for Europe, there is a "glob" needed for the globe. A single currency for everywhere. Fortunately, I am in the process of creating that and it's going very well, with Qualcomm supplying umpty million asics for deVices for people to move money through mobile Cyberspace. I just need to tweak a few dials and the system will be ready to roll. The problem with the euro is that it's run by eurocrats, who are a bunch of self-dealing kleptocratic charlatans as are the borrowers of it who run the countries which deal in the euro, whose aim in life is to nab as much of the stuff as they can while it lasts. Get while the getting is good. The tragedy of the commons in the moder realm. It isn't really a problem for the euro if Greece goes bust. All that means is that the banks or whoever loaned Greece the money are going to lose it. Those euros don't just vanish. They were borrowed from people who had saved those euros in Germany, deposited in banks, which then loaned the money to Greek politicians who paid their employees and electoral buddies with featherbedded jobs and absurdly cushy retirement scams. The money paid to said employees, electoral buddies and kleptocratic retirees was then spent by them to buy various things, including BMWs. The recipients of that money then spent it somewhere else. The "problem" is that the creditor banks are staring down the barrel of default. If Greek politicians and their electorates say "Get lost, we are not paying it. Good bye". Then that's bad luck for the creditors because unlike a house owner going bust, there is no mortgagee sale process for a country. The citizens own it and decide what loans they want to repay, or not. Since the citizens for the most part had no part in obtaining the loans and did not benefit from the loans, they quite sensibly see no reason why they should repay the loans and they are quite right, there is no reason for them to repay the loans incurred by their deadbeat brethren, despite Haim moaning about it and calling them rude names. The people in Iceland made the right decision in telling their creditors that they were out of luck and should plan their lives around no repayment. The people in Greece should do the same. If a bank goes bust then they should offer shares to me to recapitalize the bank. I will buy their banks because I would quite like to have my own bank. The shareholders will lose their money and the creditors will lose most of their money, but the bank will stay in business. The difference would be that the new owner would run it differently. Greece is a nice place. Even without Tradable Citizenship they will do just fine once they ditch the kleptocrats, take a pay cut and get back to the serious business of serving souvlaki to hordes of tourists. But if they introduced Tradable Citzenships too, they'd be the envy of the world. If they also adopted the "glob" as the unit of value, they'd be the centre of the new world order and leading The Beginning of History. Fukuyama was quite wrong to thing that kleptocratic democracy is the end of history. The fun has just begun. With 2020 foresight of 2020 reglaciation, I can say that warm places like Greece will be extremely attractive to northern Europeans. Haim will be begging to sign up. Mqurice ... from London, England where summer has arrived. There won't be riots this year because so many people were rounded up and punished after the event. The rioters/thieves thought they were hidden in the crowds, but the average person did not like their villages ripped up and dobbed them in. Property prices remain at absurdly high levels - one million pounds for a pile of bricks in a row of terraced houses.