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The ECB bought the debt from the private banks, right? So, I think the burden is still to be carried by someone. So, I don't think the ECB should've never bough
by norea-armozel 11y ago
The ECB bought the debt from the private banks, right? So, I think the burden is still to be carried by someone. So, I don't think the ECB should've never bought back the Greek debt at all. The banks need to learn that there's no such thing as a free lunch when it comes to loans. But it seems all governments are hell bent on making the lives of banks far too easy (where the rest of us if we should fail are told to get bent).
- x0x0 11y agoain't that the lesson of the last 7 years? private gains, socialized losses, and fuck the taxpayers
- norea-armozel 11y agoNo doubt. And at this point I'm beginning to lean towards the idea of abolishing money altogether (and I'm the market anarchist here).
- igravious 11y agoDon't throw the idea of money under the bus. Money in itself is not the root of the problem. Money is a tool, an instrument -- let's keep that perspective clear in our minds. We can innovate in the money space (crypto-currencies, blockchains, and all that) if we want better solutions. Somebody posted a G.K.Chesterton quote on this site a mere 6 hours ago that is apropos: https://news.ycombinator.com/item?id=9845506 https://news.ycombinator.com/item?id=9845506 [But donkeys, I fear, will never be abolished.] Look to how money is misused abused and try to figure out how we can remedy those situations. Much better :)
- deleted 11y ago[deleted]