An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Greece has a huge trade deficit, and the Greek government cannot create its spending money out of thin air. Therefore Greece must borrow all its euros.
There is no possible way that Greece can ever repay its debts monetarily, or even stop its debt load from rising exponentially.
Hence Greece pays on its debts by surrendering its assets to the rich and the bankers. This is all by neoliberal design. The euro-zone has a monetary union, but no fiscal union.
Privatization does not allow Greece to stay abreast of its ever-growing debt, since Greek assets (e.g. 10,119 archaeological sites) are sold to the rich for a fraction of their market value.
The Greek Archaeologists Association says that the Greek constitution prohibits the sale or surrender of Greek archaeological treasures. Yet, constitutions are routinely ignored worldwide.
“Is the Acropolis next?”
Yes it is. Nothing can stop this as long as Greece continues to cling to the euro. Everything of value in Greece (everything) has been privatized or soon will be.
People who understand MMT foresaw all this on 1 Jan 2001 when Greece adopted the euro.
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Greece has a huge trade deficit, and the Greek government cannot create its spending money out of thin air. Therefore Greece must borrow all its euros.
There is no possible way that Greece can ever repay its debts monetarily, or even stop its debt load from rising exponentially.
Hence Greece pays on its debts by surrendering its assets to the rich and the bankers. This is all by neoliberal design. The euro-zone has a monetary union, but no fiscal union.
Privatization does not allow Greece to stay abreast of its ever-growing debt, since Greek assets (e.g. 10,119 archaeological sites) are sold to the rich for a fraction of their market value.
The Greek Archaeologists Association says that the Greek constitution prohibits the sale or surrender of Greek archaeological treasures. Yet, constitutions are routinely ignored worldwide.
“Is the Acropolis next?”
Yes it is. Nothing can stop this as long as Greece continues to cling to the euro. Everything of value in Greece (everything) has been privatized or soon will be.
People who understand MMT foresaw all this on 1 Jan 2001 when Greece adopted the euro.
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