Anyone following the Greek implosion?
  • Looks like Greece caved. I suppose everything could change in a heartbeat, but it looks like Greece blinked in this game of chicken. I am surprised, since they had a vote on this. The ruling faction has to figure that in the next election, somebody will promise flat out default and be pretty damn tough to beat. Anticlimactic for now.
  • The Greek people vote no, the parliament votes yes. Mmmmmm... smell that EU democracy in action!

    "The EU has been great for bringing democracy and prosperity!" *snicker chortle guffaw*

    GEFM, the gold standard did NOT cause the Great Depression you moron. Please put Krugman away and read something else!

    Having precious metals back a currency doesn't cause problems, nor does it limit credit creation. Yes, you can have credit AND a gold standard if you want to, just not insane credit like we have now. You think that's wealth the US/EU/etc etc are generating? Fool. They are sitting on top of a giant debt bubble. Debt is not wealth. Unless you listen to Krugman.

    I guess you didn't bother checking out the history of fiat currencies. Gold lasted 4000 years or so, until Reagan abandoned it in the 70's. (The ONLY reason the US dollar was trusted as the global reserve to begin with was because it was backed by gold, by the way). Fiat currencies, ie, unbacked paper currencies, last on average around 45 years iirc, with the longest on record lasting nearly 80 years. How old is the US dollar now (post gold abandoning)? Hmmm..... oh oh, how much has the dollar devalued in the last 80 years? 97% wasn't it? Yep, fantastic success story you got there!

    Tick tock tick tock.

    It's all in the history books, as I've said time and time again. And it will happen again. The only, I repeat ONLY reason the US hasn't gone tits up is because it is the world's reserve currency. If you can't understand that, and actually think US production is the reason, you're an idiot.

    It's the reason China and Russia are trying (successfully I might add) to lure other countries away from the dollar. It's why they created the AIIB. It's why they are amassing a gold collection. It's why they are building military installations all over the place. The terrorist nation of this world is yours. The good ol' US of A. Anyone with a functioning brain can realize the US won't go quietly into the night, because as twerps like your good buddy Krugman even said on air, "The US dollar is backed by men with guns".

    Mmmmmm...smell that freedom and democracy!

    Do you have any idea how fake GDP numbers are? How fake the stock markets are? How fake the CPI is? I'm guessing no.

    The Fed (and all the other central bankers btw) doesn't like a result it simply changes the formula until it gets the result it wants, and goes back and changes previous results for continuity. And THEN it makes future predictions based on the numbers in these cooked books. That's great science yeah? All of this can be found online if you are willing to search for it and read through some of the driest economic texts penned by man. Or you can close your eyes and sing "La la la".

    If the economy is so awesome, why are interest rates at zero? Why are interest rates outright negative in some places, and stealthily in others? You know, if things have improved so much after all...

    You big government loving unthinking drones are amazing. Your solution to everything is simple: more cowbell.

    The EU is not democratic. The EU is not deterring war or promoting friendship between member nations. More EU will not solve anything. If you don't tow the line they strap on the financial thumb screws and start twisting, just like you can see them doing to Greece now, just like they've done to numerous other countries. Don't be so fucking willfully ignorant of what's right in front of you.
  • On the topic of currency, what are everybody's thoughts about Bitcoin and blockchain-based (open ledger) cryptocurrencies? I'd be keen to get everybody's thoughts.

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