Posted on 07/05/2015 12:03:53 PM PDT by 867V309
Greece will fully renounce their debts.
...and in 6 months, banks around the world (led by US banks) will be climbing over each other to open up the lending spigot, yet again.
Bankers simply CANNOT HELP IT...they are sick people.
This is silly. All this bank(ster) conspiracy stuff is nonsense spewed mostly from the left.
The only problem with the banking/investing sector is that we (Governments) bail them out when the risks they take are bad ones. Stop bailing out banks and investment firms and the risks they take on deadbeats like Greece are reduced dramatically. And yes, that does mean we have to be on guard to make sure no banks are "too big to fail".
If Greece defaults, they will get offers of credit the same way an individual who declares bankruptcy does. They will be offered credit at a high % rate. The Greek people are addicted to socialism so they will probably go down that road till they can't pay their bills again. As long as those creditors are not bailed out, eventually Greece will find itself without many avenues of credit.
We shall find out...I expect the Greeks to play the bankers off against each other...and then get MUCH LOWER rates than they deserve, considering that everyone knows they’ll simply repeat the cycle, yet again.
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