Fiat currency printed
ad infinitum on presses controlled by the political class and their corporate cronies, eco-Fascists, and One World Government Marxists -- what could possibly go wrong?
Greece is only the first domino to fall, and fall it will, whether this month or next. Then the rest of the dominoes will follow, smashing creditors along the way on a path once called contagion. Though it's truly not a virus, it's mathematics triumphing over political fantasists. And the turn of the United States will itself eventually come, unless and until we begin electing leaders with virtue.
People in the mold of Reagan and Cruz. People apart from the system, willing to speak truth to power.
6. Janet Daley, The Telegraph
Greece has become a battleground for the worst ideas of the 20th century: Which of these do you find more repugnant: an autocratic European Union which is no longer bothering to conceal its intention to displace an elected government, or a shambolic clique of Left-wing fantasists who are propelling a country – and its hapless population – into economic ruin and political chaos?
5. The Z Man:
The Greek Revolution: The problem at the core of global finance is that there’s no market mechanism to restrain public debt. The whole point of a floating currency regime is to disguise public debt in order to avoid making tough choices about the welfare state. It’s not an accident that since the Louvre Accords the size and scope of government has skyrocketed throughout the West.
In other words, a currency system based on credit has worked at hiding the cost of government. In fact, it has been so good at it no one noticed that Greece was running up debt at an alarming rate. In the old system, Greece would have been facing double digit borrowing rates long before they reached this point...
...The only people with the ability to pay sovereign debt are the tax payers.