Friday, July 31, 2015

Grexit or Jubilee? With Ellen Brown

 


This provides a clear picture of the available options to Greece, but they are unlikely to ever be given those options.

Through simple ignorance, central bankers continue  to bluff their view of the world onto the heads of government  long after their solutions have all failed or worse, crested the problem in the first place.  

We forget that in the USA all sub prime borrowers by and large walked away sooner than later.  Amazngly they decided that they could not pay their bills and left the asset to the banks.  Much of those assets became unsalable forcing the banks to absorb the total loss.  This is called bad banking.  That what quantitative easing fixed.

 The Greeks need to give the EU Banks an offer they cannot refuse.  If they want some of their money back they must relend and match funds against earning assets.  If no such assets are available that sorry why did you lend?  Otherwise absorb the loss and cry elsewhere.

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Grexit or Jubilee? How Greek Debt Can Be Annulled

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