in the endless runs of lies:
Well fractional reserve, is another word for guaranteed theft, and guess what the EU does?
Exactly the send money down the road:
http://www.n-tv.de/wirtschaft/EU-pumpt-Milliarden-nach-Bulgarien-article13119776.html
(the link in in German)
Who is surprised?
if it’s given.
http://www.zerohedge.com/news/2014-05-07/marc-faber-redux-i-dont-trust-anyone-hold-gold-outside-us
I told the same me German readers on http://fdominicus.blogspot.com
I warned you over an over again. The Austrians warned before the world war two. But it happens over and over again states are paradises for thieves, but it just gets along some time. And you will loose eventually. Nothing will change that now it’s Argentina again:http://www.zerohedge.com/news/2014-02-09/heres-what-it-looks-when-your-countrys-economy-collapses
It’s as usual. The government promises can’t be kept. There is not enough of anything to fullfill this lies. And as you can see before there is an extreme expanson of government spending. Which of course is just driven be debts. The endless blog entries on Zerohedge are “im”(de)pressing
http://www.zerohedge.com/search/apachesolr_search/ type in Argentina
I warned you in 2011 what will come along and it’s starting. Not in the US or EU (currently) but the states farther down the path to destruction. See what I warned you for and what I propose to do about it for yourself. I needed 5 years to get all the things properly “set-up”. I hope it was enough, and I hope also I will get out of here before the next war comes….
Well you remember my last entries just a month or so ago, where I wrote that police is not your friend any more, but the sheer brutal force to get the elites “living”.
For that you see there are other things which clearly state, there are laws and laws. Those in disadvantege for states can be broken as one likes but don’t you dare to break on written law (you can not even speack from rights) any more.
You don’t believe that? Well how about:
http://www.zerohedge.com/contributed/2014-01-07/jp-morgan-pays-2-billion-avoid-prosecution-its-involvement-madoff-ponzi-schem
at least in my eyes:
I do think that police is fighting against one’s own population while (just) enforcing laws, just the politicans want. Why is it so hard to understand that theft is a crime and there is not difference between theft and taxe or other forced payments. How comes that a government can limit everyone’s life to their liking? Where’s the right in using violence against those who do not want the state?
For me government is part of the problem, not part of the solution. But still people do really think government over all and everyone would be a good thing. I don’t know how that comes…. Government means violence, even if the do enforce it against men who do nothing wrong but not following the “law”. It’s not to understand why you can get all kind of drugs but that having “harsher” drugs could be a crime. Whose rights are violated if you consume them. And it’s not the business of the state to delcare what kind of living is within some artificial “right”, and there is absolutly not way to pacify taxes and right. There is not right also to have payements for uemployment, retirement etc. On the other hand people do not have a right to get paid while not working or being retired. They have to save their money for their after-work-life.
And to save means, that no one has the right to inflate the money people used for keeping their savings, and so central banks never can be right but they onlly can be established by “laws” backed by pure violence from the government. And so we come back to policemen, they are not for “rights” but “laws” and so everyone could happily kill within his duty to the state. Strange enougn the processes of Nürnberg to have judged oterhwise. So tell me how many measure of rights to exist? How can it be that killing from a Nazi soldier was treated as crime but a killing from a cop in the USA is obeying the law and a service to the public?
http://www.zerohedge.com/news/2013-12-07/guest-post-state-causes-poverty-it-later-claims-solve
Indeed the paper “money” system is at it core unjust. I always allows states which do have overall the hightest debts world-wide to pretent that they “own” more then they really have. States to not have to save to bear their expenses. They just can go to everyone else and tax them. Just imagine they would not have “the right” (who has given it to them) to tax? What would happen. They could not afford by any means to throw out the voluntary given money. Because I doubt very much they would get half of the money of each individual in their country.
Another problem is that states still can make debts. And the cumulation of all our debts is the paper money iteself. The sheer madness is that it starts is life out of nothingness and the taker of it are forced to really pay it back.
It’s snake oil, unfortunatly snake oil that pretends to work But in it’s core it’s destructive and unjust. And So they search for other reasons to justify it. And there we have it. Fight against…..
Now fill in the … Come back if you are finished ;-(
http://www.zerohedge.com/news/2013-11-09/venezuela-government-occupies-electronics-retail-chain-enforces-fair-prices
This surely will work at lest as good as in Atlas Shrugged. We must do something, Mr Galt we promise you everything do something but don’t take away anything from us…
So what will happen. Some comments express it: The stuff will be sold and they shop’s won’t buy more because they are simply loosing money with every purchase. So how long can you “survive” with just losses? Well you are not a state which just can try to take away more. And you still can not afford to loose money all the time.
So the end is clear, poverty for the masses and everything else for the “socialists”. Do we really need this reminders over and over again?
And it’s getting even more stupid by the day:
http://www.acting-man.com/?p=27163
Well governemt to the rescue.
http://www.zerohedge.com/news/2013-06-02/obamacare-double-cost-insurance-average-californian
So don’t bother just settle over and pay more and let them take away all your money. You do not just have to pay for yourself but all the freeriders which are eligible for “support”. Who could be suprised about the height fo your payments then?
Obamacare – just means this Obama cares for himself and his gang.
You did not know that? Well then you are even more stupid then I thought….
Well one might think some countries may learn from their own but also from other’s countries faults. I guess I’m again very mistaken about it.
As I wrote before it’s obvious that the USA, Eurozone, Japan and China are racing to the bottom. One may ask why I include China the “big grower”. Well very easy
I say bubbles. And in China the bubble with houses are obvious. It’s not yet the case that every Chinese can buy for 1000€/m-² or whatever the price is.
But it does not matter they have planned and build cities our in the nowhere an hardly anyone has settled there. So that’s a classical malinvestement.
Last but not least Chins is a socialistic dictatorship. The PARTY is capable of nearly everything (as long as the party members are covered by their companions) I guess it would be very interesting to see how wealthy the member of the party are. I bet 1000:1 they are all much “richer” than the average Chinese worker. Every other outcome would be a big surprise
But I do not want to write about the stupidities of the developed countries. But the stupidity of socialists world wide. As you know Argentina has defaulted some 15 or so years ago. And now they start expropriating the “oil companies”. Well the promises they made before the votes have cost dearly and Inflation is a serious problem to anyone living there. But hey it’s not the actions to kill the market, it’s the speculators stupid. Argentina has wiped our the middle class after that default. And now they want to wipe out the lower middle class also. So yes they have not learned the smallest think, neither from their own faults nor the money printing faults of other countries. So you can count in Argentina on the race to the bottom. I guess they will take the pace sooner than later.
The other stupid countries are Bolivia and Venezuela. In every country the socialists are at work and you can see it everywhere. Expropriation every where. Stealing from the people with high inflation and wiping out the small wealth the people have accumulated. So they will go down also. That’s so fucking stupid and sad….
Maybe we see the end nearing. The debts worldwide were soaring the last 3 years and still there is not relief.
It can not come as a surprise to the austrians, liberals or libertarians. What we have seen was and just is “credit expansion”. The central banks manipulate everything and
so we do not have any idea any more about “prices” for money. Just remember what I wrote some time ago:https://mises.org/Community/blogs/fdominicus/archive/2011/09/08/who-could-be-suprised.aspx
Feel free so just search a little through older entries and I also suggest having a look at: https://mises.org/Community/blogs/tincho/
I also wrote about what one “should” try. There is one problem which will bite you whenever you are just having money in one country. This money is prone to expropriation. Especially worse is it for countries nearing the default or being in default. Greece should be a warning for every one. There are now at least 3 levels of creditors. IWF and ECB as “primary” creditors, ECS has not suffered any losses (all the papers bought were change to papers with the same nominal value), then come banks (they were partly bailed out, either through ECB, FED or other central banks and they could probably keep there looses below 50 or so per cent. Then comes the private creditor. They had to suffer losses beyond 80 %. That’ s what will happen world-wide. If you think this well be a Greek specialty, think again and doubt it. If you believe the Fed, ECB or whatever political power will not do the same, you can start burning your money immediately.
There will be always problems if you are just “invested” in one country. The laws change and nobody will grant you anything. You own government does not shy away from robbery. So if you have all your property in your country they will get you. So be suspicious and send your money overseas into different areas. It’s unlikely that you will loose everything at once following that route. But be cautious, one larger country getting into default will have implications on other areas also…..
It’s not secret that I’m strictly against central banks. Anyway here’s a small calculation on the last moves of the ECB.
They made 1 trillion Euros out of the blue. Now a trillion written is: 1 000 000 000 000. How can they do that? Oh it’s simple they just say the money is there and
“it’s” there. Now if we assume a Golf costs 25 000 then VW could build 40 000 000 of them, they may have build around 30 000 000 Golf have been build. The Golf now is around 45 or so years
in production. So if VW can has produced 30 000 000 Golf in 45 years, they can produce around 666 667 cars year. So they would need around 60 years to produce the 40 Millions of it.
Guess how long it took the ECB to create this out of the blue. 0.1 sec. Effort none, and well paper money with a value of 0 also. But assume how this diminishes the information of prices. There are one billion more of a constant amount of things. And it was not earned by individual with their preferences, it’s there from now on. And well it gives the impression of being richer. But that is simply a lie, in the end it just makes the prices go up.
And what is is in the end? Just credit expansion. And that means we’re on our way to broken currencies. And this after war the most dangerous things one can face. So the ECB does not do anything to fullfill their order just to keep the system running while trying to prolong the boom. We all know that can not work. And no it will not be different this time.
Well it has come as I expected more than once.
Now the next German Solar supplier will probably go bankrupt. And what did I post yesterday? Which itself was quire some “old” stuff? And
burning money what did I calculated there.
It’s depressing to see your money (yes I’m one of those still paying taxes) burned that way. Now if I would have invest my money with German Solar panels suppliers and started with this investment just 6 years
ago and would have held till today I would have lost > 97% with each. Very sustainable. Now I do have done that and still I have to pay for the panels on the roofs. But as you also know I placed some extra on my roof also I mentioned it
How to maximize damage to states
I hate to say it, but it’s kind of war time its defending one’s one property against theft, robbery, and black mailing. On the other side are the states and their workers.. It’s a shame.
http://fdominicus.blogspot.com/2008/10/they-raided-successfully.html
Has anything changed or was I right on the point? In fact the debt have risen more then 6 trillions. In just 3 years.
And still the same bandits are riding and driving more and more into poverty. Is that what you US-citizens really want?
Why one would trust anyone of the candidates which have proven to keep this system running is beyond my understanding. The states is the problem and the disease, you must
get cutting it out.
Greece finance minister warns, if the EU let Greece down.
Guess what Greece alone has 330 billion of debt. and if they fail the end will come. Well hell one might think “Finally”
All EU countries have debts beyond imagination and beyond anything in history (even after wars) and they are “suprised” that this won’t work.
That it could work is as likley as extinguish a fire with a flame-thrower. I’m really getting mad about this Bastards. They have accepted all kind of debts for
the most stupid things one can imagine. They tooks tons of money for other things from th e EU. (I bet no street was build on Greece costs alone the last 10 years)
They made working for the government profitable as nothing else, all in the clea knowledge they do not have the money to pay that all.
So in fact they’ve lived beyond any limit on the costs of all creditors, just to rip of everyone in that country. I’m so angry, that I’m not even able any more to
write anything decent. I wish all the Politicians and Bureaucrats over there a hell of time. Take that you looters.
the deledefs have put us into:
Introduce sound money. That means “End the Fed”, bind the currency to something of value
Forbid debt for financing governments
If one thinks the state is needed. Introduce one flat tax for financing it.
Stop the subsidies for the diverse parties and look for de-centralism. That means throw out most of the bureaucrats in Washington.
Disallow any agencies like the CIA , NSA etc. And their acting as states in the state. Don’t allow torture.
Keep the greedy hands of bureaucrats out of business. Every intervention of the government is based on but one thing violence. It’s not acceptable that
the state can use that as “base” for negotiations. It’s the same as if in business one party comes with heavy arms and “suggesting” a certain kind of contract.. You can comply or you die?
Think about the diverse laws and the highest risk insured. That’s bad, it’s a subsedy for large corporation to live on the expenses of anyone else. Give property right back their “meaning”. That means the share holders must be much more involved in what the managers do.
English banks reduce their exposer to EU risks:
http://www.telegraph.co.uk/finance/financialcrisis/8584442/UK-banks-abandon-eurozone-over-Greek-default-fears.html
1:100 that Merkel and Sarkozy will name them speculates. Or traitors or such
Greeks history is near record breaking for defaulting. Just read “This time is different” and you’ll see I’m taking this out of the blue.
Much more interesting is that defaulting seems to correlate very nicely with corruption. For this beeing able to read German check:
http://www.tu-chemnitz.de/wirtschaft/bwl4/interessantes/Korruption_Artikel.pdf
Togehter with this time is different you’ll see the probabiltiy of Greek defaulting is very high and because of the sell of of bonds one can see, all but the deledefs think a default is inevitable.
Translated from: http://fdominicus.blogspot.com/2011/04/das-mochte-ich-hier-festthalten.html
1) a politician never is guilty
2) if a politician is guilty 1) takes immediate precedence
3) if a politician is guilty an lying, it has to be blamed on the markets
Just have a look at a few entries on the mises log in the past few days:
http://blog.mises.org/16587/when-in-doubt-blame-the-speculators-%E2%80%93-again/
Just an example from Germany, The taxes on fuel are well beyond 70% IIRC they are even near 80%. Who get’s blamed the oil companies. Well they are responsible of 1/3 of the price but
with every cent more the deledefs get 0.7 cent more robbed cents. That’s the “truth” and no-one can deny it, but the deledefs do over and over again….
Keep that in mind and you have much easier times to understand, their actions.
I like it it subsumes everything nicely what’s happening in EU or US country. Strange enough one does not hear such garbage from Neu Zealand, or Australia. Well the Japanese are
similiar and the Chinese are well “different”. We know the lie (but how does not) but they are culitvating their own bubbled. I can not see a city without population as a good investement..
See e.g:
http://blog.mises.org/16436/the-inevitable-result-of-central-planning-chinas-ghost-cities-and-malls/
http://research.stlouisfed.org/fred2/series/BASE
Gives an answer. And because it can not be accepted what is the truth. This ponzi-scheme get’s a great name it’ s called quantitative easing.
For those among us, who can read. The Fed does buy bonds from the bond markets, takes that as assets and prints new money. Now this is a scheme everyone BUT Fed would go to jail. But hey you know they are so much “brighter”. No physical barrier can hold them ;-( But yo know you can’t fight natural barriers you can’ t fight problems caues by too much money by making even more money. That’s for sure.
Oh, yes they are so endless stupid that it hurts anyone else. The politicians (sorry deledefs) have initiated the whole crisis stuff. Never were able
to get along with their stolen money (read taxes) and never enough credit for whomever they deem worthwhile.
And now they did it again. No thinking just like animals in panic. One direction. We must have our daily/hourly/minutely/secondly credit. And everything who is not willing to give it to us, we’ll feel our power.
Now the newest attacks on the markets. US Ratings should not hold any longer for Europeans. Agreed this rating agents have done wrong, but they are among those having
made the point that the debts of some EU-countries are “bad”. We know our deledefs see it differently and have taken all EC citizens as hostage. The name is safety chute or whatever, but
mean working against the market because markets to fail. Yes markets do wrong sometimes and after recognizing this they correct that. But it is not allowed to
swing into the direction “less” credit” , this is a no-go zone for any deledef. And so they fight the markets wherever they can, in the end they will fail
It’s just the question whom they will take with them. And here no-one living e.g here in Germany will be spared. Those handling responsible will pay the bill. And deledefs will be the thieves,defrauders, bandits and even murderers.
I have written before what one should do. And I’ve acted accordingly. Money was taken out of the EU dictatorship and put elsewhere. A contract about a lend farm includes the option to get paid in food. And if the money
will be gone some gold was “bought”. The option leaving this country was chosen by me, but not beard by anyone else in the family and so we are stuck with the rat packs name politicians here in EC land….
Paulson … do some bells begin to ring if you hear that name?
Glad you’re with me. Yes it the Paulson which demanded 700 billion Dollar. Now sit down, we European can be nearly as good.
The illegal safety chute (illegal in the sense, how I understand the no-bailout clause), was first just 250 000 000 000 EUR heavy.
Now it should be made “permanent” with just the slight increase of another 250 000 000 000. Yes, I got this figures right. We are talking
about half a trillion EUR for helping out the poor deledefs. That’s also roughly 2.7 times the amount the Germans have saved in 2009. Now the Germans are not
known of beeing a third world country, and guess what we are roughly 80 000 000 ( I guess one has to write “poor”) souls. Yes there are somewhat around
320 000 000 European citizens. But AFAIKT there are just a bit over a third of them “net” payers.
However in other words to just save enough for the safety chute the Germans would have to work around 2.7 years for free. And put all their saving in a pot ….
controlled by “Politicians”. Oh no it’s not that we could decide what is done with the money. This is done by bureaucrats and “choosen” defrauders. The same which started all this
misery. Now say something about “soundness”
For those Germans still having some property. Think a few hundreds times before investing in Europe. It may make all the difference….
In the EU zone the inflation rate is beyond official 2%. That means in 36 years the value of your money is halved.
However this is just the official rate which always is lower than the real one. They write about a “felt” inflation of 5%. The truth will be in between.
So let’s assume it’s 3.5 % So in around 20 years the value of your money is halved.
So currently the Deutsche Bank offers you 2 % for one-year-deposits. You’ve to pay 25% taxes on it so there are 1.5% left. The inflation rate is 3.5% so
you loose 2 % of your money in just one year….
I wrote about it more than once, inflation is government sanctions stealing. Now here we go. Germany has officially 1.7 trillion of debt (this is another big lie) because there is
not money saved or other promises (like e.g the pension payments). You can bet how “bad” government feels about inflation. They will always say “it is terrible” but reality it makes them “smile”. Probably a kind of cruel smile, or simply nasty. The kind of smile you can see if a theft has get along with the valuables of others.
They smile because with more inflation there debts are de-evaluated also. And so they can steal some other money without the need to stick to their theft. It’s the “circumstances” or even better the stags, and that of course is another reason to extend the “control”
Don’t you dare to smile you US citizens, you are even worse of. Your paper money has raised over 100% in 2 years. You will get your share of inflation also. And then it’s your “establishment” which will start to grin…
in old times we had dictators. Now we are a bit beyond we have the welfare state. Well it’s not that much a difference. At first the diverse parties have the saying. In Germany we have 4-5 parties and just two which have come into existence the last 20 or so years. The others all keep “social market” in their names in their Sunday prayers etc. But the all established the most perfidy system in the world and they sell it to us as “without alternative”. It’s the fractional reserver system and on the top are institutions like the FED, EZB etc. They all do but one thing, stealing money from everyone. You don’t believe me. Well then let me ask:: “What’s inflation” how comes that a US Dollar from just 100 year or so ago is just worth 4 ct.? It must be that way, well that is what they tell you. But it’s no secret they lie openly and not so open. This is still the biggest lie ever invented and hold up. There were times this would be named theft but not since the first world war. From there on we just get fancy colorful paper, no “real” money was seen since….
And because they have win some time. They can buy with self issued money whatever they like and worst, the central banks buy bonds. And well bonds are an asset aren’t they? And if you have an asset you surely can print another few colourful notes, don’t they? The illusion that it still has some worth buys them time. But in the end we are will pay dearly. but the bureaucrats and politicians. If all will break down and no money will buy you bread, than it’s time for them to establish them as the saviors of the world. They will steal it from those having acted responsible. And so it starts again. At first they will see that markets will be allowed to function again, then comes the tax. And then the promised of the land of plenty. build on debts or worthless money we are doomed to accept as real money. And the round of booms and busts will start. The sums will get absurd and they will alway tell you “Oh no problem we CAN control it.
Believe them and you will pay not one, not twice but forever. See what you have to pay for and see what you really need, draw your conclusions and be wise enough to not buy any bond from anything related to government…..
well you can call me arrogant but I think I found the biggest political mistakes (well I’d name them criminal offenses) which have lead to our current misery
1) fractional reserve system. I think there can be no discussion about it. if you have fractions you have leverage and leverage can work in both direction. However see the problem:
You have 100 CU (currency units), as a private person you can lend maximally 100 CU. Not in a fractional system. you can lend by fractional reserve of 10% roughly 1000 CU. Now let us assume you get the money for 1% (this is currently realistic) than in one year you have to pay back 101 CU to the central bank. Well if all went well you can expect at least 3-5 % for the lending of the 1000 EUR so if all would go well roughly 1050 EUR. Now let’s calculate 50/100 = 0.5 Now tell something about getting rich quick. But this is not the end. What will happen if 20% of the money will not get paid back? you the will get back around 840 EUR and 160 EUR are missing. But now we come to the second sin
2) subsidies you can read it also as any hindrance to free trade and bearing what was caused by yourself. Let’s proceed with the situation above. We lacking at least 161 CU. Well we do not have the money but know the subsidies come into play (you can see the results in reality for bonds of Greece, Spain, Portugal, Ireland and yet a few others). Now the “genius” strikes back. You are bankrup but now the governments jump in an guarantee the other debts. Result you get the 50% gain, risk free.
I leave it to your imagination what will result.
Well why does it happen. Now just see who really are the worst debtors. They are the governments. And so we have an alliance against those acting within their bounds. Banks want to lend money the more the better, governments want to have money in extreme Amounts, and how brings the government bonds to market? Banks. So governments to not act for the public but their own survival and growth. Their own survival just can be guaranteed in a parasitic way, if they overdraw the host will die. This is bad for any parasit, some of them are “stuid” enough to risk it. But bureaucrats an politicians have one “gurantee” of survival if there are any men left. They can find a way to seize the properties of them. You can see it here in Germany, after the world wars, money was worthless, but still something of value was left, and so they taxed this. You see government is not the solver it’s the “base problem”. The only thing which can help us is being as unfriendly as host as possible. That means, if the dedebets want more power, resist in any way.
Just imagine all EU countries have collected more debts than ever in history. Greece has manipulated data to be part of this system. And what did we do we sanctioned their doing. Now imagine, I’m stealing your money, we go to court and you have to learn. Well yes I had all the rights to betray you. What would you think about such kind of system?
Now the Irish want to get another 85 Billion from us. It was one of the soundest systems before the governement decided to “fail” out their banks, I can not see who has put some pistol on their chest saying. “you must keep your banks afloat”. Well you know the argument “there was/is/willnever be a choice. That simply is a lie.
The money for Greece was illegal, there were (and btw. still are laws) which forbid this kind of “credits”. So the choice with Greek was. “Doing nothing”. The choice for the Irish government was “doing nothing”. And in both cases this would have been the better choice. It surely would have signaled to everyone. “you can earn as much money as you like, but you can loose as much as easily”. Now the signal is to every bank or corporation. “Grow as large as possible don’t put any considerations ons sustainability. If it comes bad, you can held a whole country as hostage.”.
What do you think would stop the death-spriral?
Now it’s done. Laws so not save non-defrauders but,helps defrauders to accomplish their raids. The US and EU are the first countries with laws, which help
criminals. And even best a party supposed to be more liberal than anything els here has say yes to it. From 95 or so just 3 have say no, this has
nothing to to with liberalism. Unfortunatly we just know one of the few which has say no. Howerver it also means that nearl 95% of the FDP politicians
have not even betray their voters but also their principles. It was not the first time they did so. Fortunatly on Sunday there is a voting in the largestt (population wise) in Germany, let’s hope and pray the FDP will have to go. And let’s hope they thake the SPD, CDU, Greens, and Linke with them.
Let’s also hope that the Bundesverfassungsgericht will judge that this is against our “Grundgesetzt”. … If betraying, theft and blackmailing will be “considred” good while done by politicians, than you know ” war is near”…..
what suprise. A German who wrote about German (In)Politicians.
Another round of impertinence. Now I don’t know what fuel prices are in other countries, I just know them from France and Germany, and especially
for Germany ;-). Ok now let’s see price is around 1,40 €/l.. However that’s just half the truth if you now that more than 75 % are taxes. Well you have at least a few taxes
on it. At first it’s a fuel tax and after that all an VAT extra (another 19%). So prices would be around 60-70 ct/l. Now who cries the loudest about “high” fuel price? You have one guess free.
That’s what one can expect from politicians, FUD, and nothing more. If there is no enemy around, they construct one. If there is political nonsense around, well they will find someone else to blame and if that doesn’t help they will pile another layer of bureaucracy upon this political nonsense, and they will try to explain that with rationality.
Ah, well somone would call it “Living in interesting times”. I’d rather read it like, going to die.
The EU considers now (b)failing out Countries, our first try Greece, next stop (who knows) but it can’t took that long
till it’s Germany. I guess this will be the mother of all failouts. I wonder which country can affort to buy out us Germans. I don’t expect the USA beeing capable of that.
No bailout has worked till now but that does not hinder politicians to try again with another trillion…
Howerver if there are laws against such things. In short it’s. “No country has to guarantee for debts of another country”. So yes it was “never” allowed to do so, but
they’re trying hard to “revert” that. And from there on moral hazard is all there will be. Who will judge which country to bailout and which one will be allowed to fail.
The end will be poverty everywhere and with high likliness, war. It never has been different and I’m not that optimistic that this will change. After the war there will no welfare any longer
just what people will do to help another. And the buroeaucrats will linger in the background, waiting patiently to show there cruelty again…
It’s depressing.
Just found. The assets of the Deutsche Bahn are estimated at around 150 Mrd EUR. Now let’s assume the DB is there now for 60 years.
The new debts of German in 2019 are 100 Mrd (currently, still open to higher values, unlikely to be lower). So our Politicians just destrory something
the Germans have paid for 60 years in just 2 years. This is so unbelievable that I hope someone can proof this figures wrong.
And again we have robber : people 100 :0….