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To: GROUND ZERO™ who wrote (71704)	6/7/2015 5:54:15 PM
From: John	5 Recommendations Recommended By GROUND ZERO™ Hawkmoon Mevis pogbull Qualified Opinion Read Replies (1) \| Respond to of 222677

You're right, and the scam of the fiat currency game is a global problem. Here's an analogy that characterizes the Greek debt problem, which is actually a microcosm of the US and EU debt problems, as well as most, if not all, nations that run the fiat currency scam. Imagine that a man is the sole bread-winner in his family. He works to support his wife, their children, and his wife's widowed mother. The family routinely spends far beyond their means and the man's debts mount. Very soon, he is heavily laden with debt and finds it impossible to make even the minimal interest payments on the debts that he owes. In a panic, he goes to a seedy debt consolidation firm, which gladly offers to provide him some relief by consolidating all of his debts into a single, large debt that's attached to a 40% interest rate over the next 30 years. His monthly re-payment is massive and goes largely toward servicing the interest on his debts. His payments consume most of his modest earnings and barely touch the actual principal each month. His family is so rejoiced over the relief loan that they engage in a new round of exuberant spending, far beyond the man's means to repay. Quickly, he finds that he is no longer able to service the interest on the massive debts that he owes, let alone repay the capital. In shame, he defaults, and the credit agency comes calling! With great despair, the man is compelled to return ALL of the emergency relief money to the consolidation firm in exchange for only being held response for the original interest payments to the firm, as well as ALL of the original debts owed to the countless other creditors that he originally owed money to before getting into bed with the seedy consolidation firm. Consequently, the man is far worse off than before be took the consolidation loan, which he wasn't able to use. Greece essentially engaged in the same behavior. The Greek government spent far beyond the nation's means and ran into serious trouble. Greece received a massive bailout package from the EU, but it couldn't make the interest payments on that, and was compelled to use the emergency bailout package capital to make an interest payment. Follow the logic there and let's repeat that with the emphasis that it deserves! Greece received a massive bailout package from the EU, but it couldn't make the interest payments on that, therefore it was compelled to use the emergency bailout package capital to make an interest payment. The original Greek problems that precipitated the emergency bailout package not only still exist, but are far worse now. PLUS, the problems have now been compounded many times over [1]. The US and EU are in the same predicament as Greece, but their central banks print them out of trouble at will. Meanwhile, global debt continues to explode skyward. I'm not sure what it all means when the problem is relative. I know what conventional wisdom suggests, but conventional wisdom hasn't factored into the global economic picture for a long time now. 1. bloombergview.com