Is Greece the catalyst to global default?

[ktlight]

Greece is on the brink of defaulting on its loans. Many are thinking the country's economy could trigger a chain of events that will lead to a global economic crisis. Holders of Greek bonds have the most to lose if Greece can't pay what it owes. Is the US going to feel the effects of the Greek economy? Edward Harrison, founder of Credit Writedowns, tells us what the consequences could be and how it will affect the US.

Do you agree?

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[Andre]

I'm not an economist but my understanding is that when (not if) Greece defaults, it will set-off a chain reaction throughout the EU. A part of this chain reaction will see Spain and Italy having to pay even higher interest rates on their bonds in order to sell them, adding to their already unsustainable debt levels. They may not be able to sell them. I know Italy approached the Chinese in the hope that they would buy them. No doubt the Chinese said "not interested". Basically, these countries will no longer be able to sell their bonds and therefore will no longer be able to raise money to service their loans (debt). In other words, (and please correct me if I'm wrong here) the amount of "operating cash" these countries have runs out very quickly without buying more debt. What this whole thing really exposes is that the entire financial system is one gigantic Ponzi scheme that is ready to fall!

Interesting footnote: Today George Soros, spokesperson for the Global Elite, told Europe that the only way out of this morass is to immediately form a European Treasury that can tax all members of the EU. In other words, "you will all have to surrender your sovereignty" if you want to avoid another Great Depression. Now, take a guess at who will be waiting in the wings to manage this European Treasury? You guessed it - the Global Elite, aka the Rothschilds, etc. They are consummate Opportunists that's for sure.

[sdafnom]

Interesting footnote: Today George Soros, spokesperson for the Global Elite, told Europe that the only way out of this morass is to immediately form a European Treasury that can tax all members of the EU. In other words, "you will all have to surrender your sovereignty" if you want to avoid another Great Depression. Now, take a guess at who will be waiting in the wings to manage this European Treasury? You guessed it - the Global Elite, aka the Rothschilds, etc. They are consummate Opportunists that's for sure.

This is exactly the EU plan. Surrender your sovereignty. David Icke described it as a stepping stone process (if any member can point out the YouTube video, thanks).
Greece will not default in an out of control function. It will be a selective default process and will stay in the Euro Zone.
Our PM did two great services for the PTB, by first by collapsing a Euro member state and them bringing IFM to "offer" their deep expertise in Europe.

This is phase III of this theatrical play: Surrender your Sovereignty or else. This will serve as an example for the rest of the Euro zone members.

Lets waiting and see how this will play out.

PS: In case the above plan goes wrong I'm sure we will see the buyout of Greece by a well known group how has some territorial neighborhood disputes for some time now...
They already have enough investments in Greece...and other big islands.

Opinion Lord Sid?

Stavros

[Lord Sidious]

To me this looks like the last part of the plans to cement the European bloc of their new world order.
Either this one or the North American one is the most powerful, it is much of a muchness.
''They'' will collapse the Greek system entirely as an example to the rest, if they need to.
They are merciless, as we have seen before.

[sdafnom]

To me this looks like the last part of the plans to cement the European bloc of their new world order.
Either this one or the North American one is the most powerful, it is much of a muchness.
''They'' will collapse the Greek system entirely as an example to the rest, if they need to.
They are merciless, as we have seen before.

Yes but I was referring to the PS part...

[Lazlo]

The catalyst is greed and lust for power. Greece is just a domino, or a pawn if you prefer.