My only criticism of Germany is that it let itself become the debt collector for Wall Street. Shame.

David Stockman is guy with a checkered history both in and out of government. He has a blind eye when it comes to Goldman Sachs et al. He never even mentioned the bondholders.

I believe Yanis understands the real problem and will show the world that that this crisis is not a Greek crisis, it is a Wall Street overreaching crisis. Wall Street and their offices around the world is where the cave-in will have to take place.

Hopefully Greece will banish the Wall Street moneylenders for ever and other countries will follow. The Greek people will be the first to get ownership of their politicians back. My hat is off to them.

Its going to be tough if not impossible to dislodge the so ingrained Money Men.

It is not what I took out of the essay.
Stockman basically says no matter what happens the economy is toast because of Loose monetary policy of the ECB. This lowered the bond rates, creating huge maladjustment of investment and borrowing.
The result is exponential growth of debt across all nations including Germany.

There is no future in the EU or Euro unless an autocratic, totalitarian state is accepted by the Europeans. That is the result of Central bank money printing policies, the moral hazard (read corruption) unleashed into the community, The greed of the politicians and the people to want unearned privileges, Resulting in an insurmountable mountain of debt. If the borrower cannot pay then the lender will loose too.

The future of any people is to live with their means, neither a lender or a borrower be, and to be moral and upright in dealings with each other.

For survival an individual must step aside from such a system and so must a state. Germany became embroiled in Europe and will suffer the consequences of living with drunks and embezzlers. Those that are down will drag you down with them if you get too close. charity begins at home.

Ireland should, as often repeated, repudiate the onerous debt, (the banking debts assume by bailing out the banks) Create its own currency provided by treasury debt and interest free and pay off the national debt with the new money, Create its own public bank after the North Dakota model promoted by Ellen Brown, Close the central banking system, Reclaim its national assets such as the continental shelf, Lower or eliminate income taxes, and create a fresh start as a proud independent people.

The choice of doing nothing is to be subsumed into the greater union and submerged in suffocating statist governance and destroyed by Central bank profligate printing of money.

There is no such thing as a free lunch. Never was.

Goldman Sachs and its echelon of parasitical bond holder clients are the real terrorists. Everybody is terrified of them. Hopefully the Greeks will highlight the fact that it was Goldman Sachs who almost singlehandedly shepherded Greece into the Eurozone so that it could lend to the Greek Government and send the bill to the German people.

Stockman is right about one thing though, the Germans should have turned on the moneylenders long before now. Hopefully it is not too late.

There looks to be an awful lot going on at the moment, the possible Grexit, France and Germany talking to Russia without the USA / UK and probably a lot more stuff that we have no idea about.

One thing that has been mentioned here and there is the so called satellite evidence Putin holds in relation to what ‘really’ happened on 9/11! Maybe a load of BS but again! I imagine it one of his chess pieces that will be moved if and when it suits him.

I have just read, ‘ Europe’s Greek Showdown: The Sum Of All Statist Errors
by David Stockman • February 10, 2015′
http://davidstockmanscontracorner.com/europes-greek-showdown-the-sum-of-all-statist-errors/

It goes into great detail and paints a picture that looks to be the current situation. He also paints a picture of what will more than likely be the situation.

His bottom line would appear to be that the game is up for the Euro and possibly the EU as the Greeks won’t give in and the Germans won’t give ground.

Do I hear DMark printing presses running at full throttle in the background, it certainly sounds like it!

Gold is a common gift at weddings and festivals, and rural Indians who account for almost 60 percent of demand use it as a means of savings because most don’t have bank accounts…

http://www.bloomberg.com/news/articles/2015-02-11/india-smugglers-and-their-bodies-take-a-break-from-gold