Yes its finally happening. Greece has closed its banks after massive withdrawals over the last few months. Well withdrawals from the people who actually had money left. Four years of austerity measures which did nothing but punish the typical greek citizen for the sins of the banker class. All the while Germany has enjoyed extremely low interest loans to boost its economy.
Part of the reason for the Greek bank run is feat of exiting the Euro and return to the drachma. The Drachma will be valued at a much lower rate than 1:1 with the euro so taking euros in cash now will make paying off loans in the future easier, or even as simple arbitrage. Various bail out plans will likely fail as there is no capital to service the debt as debt to GDP has reached 178%. the reason for the lack of money to pay off debt is that the money borrowed never reached the Greek economy in the first place, with most of it being siphoned off in the first place by bankers (banksters) and the high dollar swindler class.
Ναι του τελικά συμβαίνει. Η Ελλάδα έχει κλείσει τις τράπεζες μετά από μαζικές αποσύρσεις κατά τη διάρκεια των τελευταίων μηνών. Καλά αναλήψεις από τους ανθρώπους που πραγματικά είχαν χρήματα. Τέσσερα χρόνια εφαρμογής των μέτρων λιτότητας που δεν έκανε τίποτα, αλλά να τιμωρήσει τον τυπικό Έλληνα πολίτη για τις αμαρτίες της κατηγορίας τραπεζίτη. Όλο αυτό το διάστημα η Γερμανία απολάμβανε δάνεια εξαιρετικά χαμηλό επιτόκιο για να τονώσει την οικονομία της. Μέρος του λόγου για τον ελληνικό τραπεζικό πανικό είναι κατόρθωμα της έξοδο από το ευρώ και την επιστροφή στη δραχμή. Η δραχμή θα πρέπει να αποτιμώνται σε πολύ χαμηλότερο ποσοστό από 1: 1 με το ευρώ έτσι λαμβάνοντας ευρώ σε μετρητά, τώρα θα κάνει την εξόφληση των δανείων στο μέλλον πιο εύκολη, ή ακόμα και ως απλό αρμπιτράζ. Διάφορα-bail-out σχέδια πιθανότατα θα αποτύχει, καθώς δεν υπάρχει κεφάλαιο για την εξυπηρέτηση του χρέους, όπως το χρέος προς το ΑΕΠ έχει φτάσει 178%. Ο λόγος για την έλλειψη χρημάτων για την αποπληρωμή του χρέους είναι ότι τα χρήματα ποτέ δανειστεί έφτασε την ελληνική οικονομία στην πρώτη θέση, με το μεγαλύτερο μέρος του να συλλέγεται κατά πρώτο λόγο από τους τραπεζίτες (banksters) και την κατηγορία απατεώνας υψηλό δολάριο.
Recently we have had debates about education funding and regulation. So it would be a worth considering the woeful path New Zealand took with its education funding model about 23 years ago.
The New Zealand loan scheme, the rapacious debt monster that for the first 20 years of its life was unbankrupt-able. Starting out at 7% plus CPI interest rates being charged daily culminating in monthly 2% penalties for non payment, this political football generated billions of dollars of debt placed squarely on the shoulders of the youngest and least able to pay. How did people deal with this in a country with shallow employment markets, low wages and few opportunities. One option was emigration and a significant number who did so simply left the debt behind. Australia with its strict privacy laws vast landscape became an attractive hideout for those who sought to escape the debt slavery of the student loans scheme. Australia is home to approximately 7500 long term non payers owing about 450 million dollars of this debt. Worst of all was the continuous tinkering with the terms and conditions of this debt making it difficult to understand what was actually required. This confusion was exacerbated by the IRD deliberately providing misinformation to confuse and deceive borrowers in paying more that they were legally required to. The IRD is a powerful government agency in New Zealand and has on occasion enacted legislation taking force retroactively, one of the more infamous cases was the first student loan bankruptcy in the mid 1990’s where the borrower had filed for bankruptcy and been discharged after several years only to then be told the loan could not be bankrupted and the debt still stood. For almost 20 years the loans could not be bankrupted. Recent developments with contacting historical borrower appear to be a form of gaming borrowers and simply waiting until they have enough assets to chase despite ignoring them for many years. The statue of limitations on debt ( typically 7 years) does not apply to these loans either.
Recent changes to information sharing between the ATO and IRD ( NZ ‘s tax office) announced by Tony Abbott means that the ATO will be giving information to New Zealand regarding borrowers that are sought for payments. The Australian based hold outs have been getting some very large bills lately.
Recently however the NZ government relented and accepted that a NZ student loan was in fact bankrupt-able, this of course leads to the inevitable new wave of bankruptcies where the largest (and often only debt cited) was the NZ Student loan. So here we have Kristina Andersen, New Zealand based bankruptcy specialist explaining the situation in an interview with radio New Zealand.
But the New Zealand government has changed it’s mind before (retrospectively) to re-shackle a bankrupt with their student loan debt all over again. I’m sure many of the long term defaulters are watching this situation carefully so see if it a real remedy or whether it is just more ‘bait and switch’ policy in the student loan shell game. I guess that’s the reason why they called it the student loan scheme.
Scheme ( definition)
Yes the student loan scheme certainly turned out to be underhanded and completely impractical for borrowers.
The amusing fact is this, NZ student loan borrowers are actually advised to consider declaring bankruptcy right after graduation.
So that is the possible legacy of a completely deregulated education system with loans and debt as fuel for a massive debt and bankruptcy bomb the explode in the future.
Eventually one would hope the business model of putting students in to enormous debt with the intention of farming them over a lifetime will come to an end with the simple inability to pay converged with the fact that information is now almost completely free via the internet. The voucher of a university degree will simply lose its luster as a guarantee of a better middle class life. There is of course the real competition, open source, free market online style education.
It’s seems an anachronism that people would opt for 6 figure debt for information they could get for free. Perhaps the university degree will become a thing of the past, and future people will educate them selves in a lifelong process of continuous learning.
Hard to call them racist, against their own race, which is only a social construct…. The leftist logic melts faster than a clock on a Salvador Dali painting.
Originally posted on tomfernandez28's Blog:
That half of the officers are black appears to dispel the notion that the death of Gray was racially motivated, but the debate raged on social media
byBIZPAC REVIEW | MICHAEL DORSTEWITZ | MAY 2, 2015
On Friday night, the Baltimore police Department released the mugshots of the six police officers charged in the homicide of Freddie Gray
The officers, who have all been released on bond, were previously identified as Lt. Brian Rice, Officer Garrett Miller, Sgt. Alicia White, Officer William Porter, Officer Edward Nero, and Officer Caesar Goodson.
That half of the officers are black appears to dispel the notion that the death of Gray was racially motivated, but the debate raged on social media:
Syndicated columnist and Breitbart News editor-at-large Ben Shapiro tweeted:
But the left wasn’t ready to let the “racist” label loose. Joan Walsh, editor for the far-left Salon, tweeted:
Still no global warming.
Originally posted on Watts Up With That?:
Guest Post by Bob Tisdale
Dr. Roy Spencer introduced the updated and much corrected UAH atmospheric temperature data in his blog post Version 6.0 of the UAH Temperature Dataset Released: New LT Trend = +0.11 C/decade. The new temperature anomaly data for the lower troposphere, mid troposphere and lower stratosphere are presently in beta form for comment. That is, they’re not official…yet. I suspect the update will not go over well with the catastrophic-anthropogenic-global-warming crowd. Links to the version 6.0 beta data are at the bottom of Roy’s post, which also contains a detailed discussion of the updates. So if you have questions, please ask them at Roy Spencer’s blog through the above link. This post is a simple data presentation.
The version 6.0 beta temperature anomaly data for the lower troposphere used in this post are here.
In this post, we’ll take a quick look at the…
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The same pattern every time, In the US and here in Australia. Media is complicit.
Originally posted on The Counter Jihad Report:
Every time that there is a major jihad attack, the media responds in the same way. There is now a routine that the authorities tell us:
Islam is the religion of peace
Muslim driver tries to run down cops at Minneapolis Airport by Pamela Geller
The horror — and the media continues to whitewash these vicious savage acts. The Islamic State has called for Muslims in the U.S. to use their car to attack non-Muslims, especially military personnel and police. But “Stanek said they believe the incident was isolated and does not appear to have any ties to homeland security.” The politically correct fools continue in their denial.
“Suspect Injured Following Officer-Involved Shooting At MSP,” by Susan-Elizabeth Littlefield, CBS Minnesota, April 26, 2015:
MINNEAPOLIS (WCCO) — One man was hospitalized Saturday night after an officer-involved shooting at the Minneapolis-St. Paul…
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You really need to see this on a really big screen.
The word “dysgenic” was first used, as an adjective, about 1915, by David Starr Jordan, describing the dysgenic effect of World war I. Jordan believed that healthy men were as likely to die in modern warfare as anyone else, and that war killed only the physically healthy men of the populace whilst preserving the disabled at home. Stolen straight from Wikipedia.
In essence war weakens a society immediately and for generations to come.
So an entirely plausible chart showing causes and effects of various social institutions and political themes leading to a feedback loop between banks and those pushing progressive (politically correct) culture. Was this actually planned this way of was it an accidental consequence of different groups lust for power at all costs? Either way it is a very interesting analysis of some very big issues. There is the further prong to the assault of attacking logical reasoning also, to prevent people from comprehending what is actually going on.
One can almost image it as a power point presentation being displayed somewhere quite vile.