What Greece could have done if it had it’s own currency

www.FT.com What happens if Greece exits the euro? As the possibility increases following the country’s recent election and a vote against austerity, FT leader writer Peggy Hollinger and capital markets editor Richard Milne discuss the implications with FT analysis editor Frederick Studemann. For more video content from the FT, visit the Financial Times video section at: www.ft.com

www.peoplestandup.ca Meltdown The credit crunch The global financial crisis (GFC) or global economic crisis is commonly believed to have begun in July 2007 with the credit crunch, when a loss of confidence by US investors in the value of sub-prime mortgages caused a liquidity crisis. This, in turn, resulted in the US Federal Bank injecting a large amount of capital into financial markets. By September 2008, the crisis had worsened as stock markets around the globe crashed and became highly volatile. Consumer confidence hit rock bottom as everyone tightened their belts in fear of what could lie ahead.

thank you for the “bailout” Germany. hehe. facebook: www.facebook.com

Follow us @ twitter.com twitter.com A US lawmaker is reportedly planning to introduce the “Sound Dollar Act” early next month. This is legislation that would move the federal reserve from its dual mandate of maintaining price stability (which is anathema to the dollar debasement that it creates through its massive money printing operations) and keeping unemployment low (which it has failed to do…curious…) to just promoting price stability. Hmmm…what would that mean for the Fed’s unofficial mandate of trashing the dollar? And Turkey, the fastest growing economy after China, is being penalized in the credit markets for failing to promote consumer savings, according to bloomberg. What? You mean savings matter!! That’s amazing…ummm not to us it isn’t. You can’t have economic growth without savings, because you can’t have investment without capital. Capital comes form savings, and growth comes from investment, but its shocking how many people think money “grows on tress.” Can you blame them, when we have a serial money printer at the Federal Reserve, pushing us all into serfdom and neo-feudalism with a policy of perpetual bailouts and zero percent interest rates? Oligarchy here we come! Finally, with central bank policies of the fed and ECB amounting to –trash for cash — as economist David McWilliams puts it with his “Punk Economics: Lesson 2,” turning “water into wine.” These perpetual bailouts are nothing other than an institutional form of wealth transfer. They …

World stock markets rose to their highest level since the summer on Friday, on hopes that a much-anticipated Greek debt deal might finally be about to get off the ground. Feb. 18, 2012. The arrangement would mean that investors who bought Greek government debt would get about a third of their money back – instead of none. However, as News night’s economics editor Paul Mason reports, the curtain is far from falling on this Greek tragedy.

Breaking news on the Greece financial crisis! Check out this video too – www.youtube.com Greek Prime Minister Lucas Papademos told members of his government they must back deeper budget cuts needed to prevent financial collapse or quit, as political dissension threatened to unwind the country’s second bailout. Papademos said failure to secure the 130 billion-euro (1 billion) rescue package that’s under negotiation threatened 11 million Greeks with a default that would halt the payment of wages and pensions and shut down schools, hospitals and businesses. He spoke after five ministers resigned in two hours and protesters clashed with police in Athens. “Some say default would be preferable,” Papademos told a Cabinet meeting in Athens this evening, according to an e-mailed transcript from his office. “They are woefully mistaken. What is of the essence right now is to do whatever we can to approve the new plan and let the loan accord proceed.” Concerns the bailout might unravel mounted after euro-area finance ministers yesterday kept back approval of Greece’s austerity measures, one of the Greek governing coalition parties pushed back against German demands for deeper cuts, and police used tear gas to counter demonstrators in the capital. Papademos met his ministers to discuss the bill detailing the measures, amounting to 7 percent of gross domestic product to 2014, which will be put to a parliamentary vote this weekend. The Cabinet gathered after one minister and three …

In this episode, Max Keiser and co-host, Stacy Herbert, discuss the latest discoveries of blackholes in the financial universe and the populations growing permanently poorer as a result. In the second half of the show, Max talks to Dr. Yanis Varoufakis about financial horror, a currency from which you can’t escape and the Greek situation. KR on FB: www.facebook.com

www.peoplestandup.ca by Terrence MdKenna’s voice that this is from “DocZone,” a CBC.ca The credit crunch The global financial crisis (GFC) or global economic crisis is commonly believed to have begun in July 2007 with the credit crunch, when a loss of confidence by US investors in the value of sub-prime mortgages caused a liquidity crisis. This, in turn, resulted in the US Federal Bank injecting a large amount of capital into financial markets. By September 2008, the crisis had worsened as stock markets around the globe crashed and became highly volatile. Consumer confidence hit rock bottom as everyone tightened their belts in fear of what could lie ahead. The sub-prime crisis and housing bubble The housing market in the United States suffered greatly as many home owners who had taken out sub-prime loans found they were unable to meet their mortgage repayments. As the value of homes plummeted, the borrowers found themselves with negative equity. With a large number of borrowers defaulting on loans, banks were faced with a situation where the repossessed house and land was worth less on today’s market than the bank had loaned out originally. The banks had a liquidity crisis on their hands, and giving and obtaining loans became increasingly difficult as the fallout from the sub-prime lending bubble burst. This is commonly referred to as the credit crunch. Although the housing collapse in the United States is commonly referred to as the trigger for the global financial …

Global stock markets have plunged over Greece’s shock announcement that it would hold a referendum on an EU bailout deal. The decision has raised fears that a rejection of the unpopular EU agreement will renew risks of a Greek default and might even force the country to leave the eurozone. Press TV talks with Max Keiser, a financial journalist and broadcaster in Paris, to get his view on the issue.