[ExI] Doomsday Oil Price: (was RIP: Peak Oil)

[Kelly Anderson]

On Wed, Mar 7, 2012 at 12:23 PM, BillK <pharos at gmail.com> wrote:
> On Wed, Mar 7, 2012 at 6:58 PM, Kelly Anderson  wrote:
>> "Eurozone finance ministers agreed to a new $172 billion bailout
>> package (WSJ) for Greece early this morning, along with a 53 percent
>> write-down of Greek debt by the country's private sector creditors."
>>
>
> Just to be clear. This is political spin.
>
> Greece won't see a penny of this 'bailout'.
> This is another bailout of the French and German banks. These banks
> are bust, just as Greece is bust. Greece cannot make the payments due
> to the bankers, so the Eurozone will lend even more money to Greece so
> that Greece can immediately pay it on to the bankers. It is a farce.
> Refusing to accept that it all has to be written off, bankrupt banks
> closed down and everything restarted with a clean sheet,.
> Like Iceland has done.

My original assertion was that Europe is messed up. Whether it is
Greece that is messed up, or French banks, it's still a mess. If at
some point everyone is going to default on everything, then maybe the
current congress is doing the right thing by borrowing all the money
they can while the borrowing is good. It's all going to hell tomorrow
anyway, follows this line of reasoning, so why not live high on the
hog until the hog spontaneously combusts.

> Now I hear that Greece is considering selling Corfu to raise money! I
> bet a few billionaire bankers will have their snouts in that trough.

I understand they are going to rent the Parthenon out for private
parties too... that's symbolic of course, but it's a symbol of just
how messed up they are.

If shooting one Archduke can cause that bit of trouble 90 years ago in
Europe, where is this all going to end?

-Kelly