[ExI] cyprus banks

[Mirco Romanato]

Il 19/03/2013 11:08, Eugen Leitl ha scritto:

> See above. It's provably impossible to pay back the debt, and 
> quantitative easing to get rid of debt is not sustainable, since
> it destroys the value of the currency long-term.

It is technically impossible to pay back the debt in Europe, because
from 2002 to 2012 the E0 (Euro base) has gone from 400 billions of € to
1.200 billions of € (and it is increasing even with the Bundesbank
braking like hell).

Just repaying the 800 billions created by the ECB plus interests would
probably reduce the base around 300 billions, repaying the previous
debts would simply clear it completely and then would be needed some more.
There is more debt than the fiat money needed to repay it, in EU, in US,
in Japan, everywhere.

And this supposing all the credit created by the fractional reserve
system is repaid (what a concept).

This is because gold, silver, bitcoin, are a better alternative and one
unencumbered by debt, government control or other nastiness.

All this mess is to save the asses of German banks, because they loaned
out so much funds to so many fools the banks are already technically
broken. All of this is to put money back in the bank and shift the debts
to the ECB and the local banks.

Mirco