OK. Here is a good read and easy to understand. http://www.resilience.org/stories/2015-07-09/neither-crowdfunding-nor-oxi-nor-anything-else-can-stave-off-greece-s-systemic-collapse

"In short, not only is the vast amount of "money" in circulation not created by governments, but it is created by private banks, as debt. That is, when a person goes into a bank to get a loan, the bank does not lend out money from other depositors – it creates the money, there and then, out of thin air, under the fractional-reserve banking system. Furthermore, not only do private banks create the vast majority of "money" that we use, but they then expect interest back on those loans they make. In effect, because banks don't create the interest but only the principal, there is actually more money owed back than exists in the system.

In other words, even if we wanted to, we can't actually pay back all the loans. Yes, some loans can be paid back, but not all of them can, and so some people/entities must remain "losers" in this scheme. In this case, the biggest eurozone "loser" of all is Greece. (On top of that, it's safe to say that some people like the system just the way it is, thank you very much, and prefer to keep their debtors in debt peonage for perpetuity"

Zerohedge.com, Truthdig.com, resilience.org.....

Cernunno5, I admire your zest for researching the issue...but maybe there are some more reliable sources of information out there. Ones that show a larger more holistic picture.

In other words, even if we wanted to, we can't actually pay back all the loans. Yes, some loans can be paid back, but not all of them can, and so some people/entities must remain "losers" in this scheme.

We now have democracies...there cant be surfs anymore can there? that's what you imply when you say the loans cant be paid back.we can vote, surly we have all the power now..if someone is indepted well thats just his choice, free will and all that.....some people/ nations wish to serve perpetually for others......let them, a life of bending at the knee cant be that bad..We should be so very gratefull that our corporate lending masters have the money to lend us in the first place, just think of the hard work and overtime hours they put in to have the money to lend in the first place, standing by a printing press must be so tiring . Anyway I got to run, there is a sale at the company store on sugar and mollasass, funny...they only take visa...I quess that's all you really need

What a Joke... they get a mandate to act and they don't...shows stunning lack of forethought and judgement, they should have had plans falling into place Monday. Long term and short term strategies should have been implemented immediately. initiative is lost, they will be made a example of. this was a knife fight and they have kicked theirs under the sofa.......the germans will slice them to pieces with fictitious capital, and I suspect enjoy doing it...their sharping their blades with derivitives right now

Zerohedge.com, Truthdig.com, resilience.org.....

Cernunno5, I admire your zest for researching the issue...but maybe there are some more reliable sources of information out there. Ones that show a larger more holistic picture.

And here I was thinking I was being so charming. 😀

As you pointed out, Zerohedge, one side of the political spectrum and Resilience.org way over on the other side of the political spectrum....saying the same thing. That's pretty holistic to me.

I certainly don't go to The Globe and Mail, The Washington Post, CNN or Fox news if I want actual news. Noam taught me this a long time ago. https://www.youtube.com/watch?v=-KJXPWVckig

Here is the most important video to watch about Greece https://www.youtube.com/watch?v=T2PdyxMtiYM

Here is the most important video to watch about Greece https://www.youtube.com/watch?v=T2PdyxMtiYM

Hard to disagree with ya here! 😉 Couldnt have said it better myself!

Well, the can has once again been kicked. The people are responding, "This is a coup".

I noticed that the first place money seems to be going is to "Recapitalise the Banks". ...and as I mentioned...selling off public assets. Anyone want to buy a Parthenon going cheap. How about some water rights. I'm sure there is some oil to be fracked under those olive tree gardens.

My spidey sense is saying....Violence is about to ensue

All revolutions are betrayed,
most often at the top...
https://www.youtube.com/watch?v=fVcD8MgpkyY

hmmmm when I click on that link it starts in the middle for me...strange

don't blink, best line at 1:59.53

Oh look. Greece May Have to Sell Islands and Ruins Under Its Bailout Deal http://time.com/3956017/greece-bailout-selloff/