extracted..from
http://www.abc.net.au/lateline/content/2011/s3350031.htm

what they are coming up with is this idea in order to avert having to say to their electorate that there is going to be a kind of fiscal union - fiscal transfer to the countries that are indebted like Italy and Spain, that, "Look, we're not going to give them money.

What we're going to do is we're going to insure their debt," which creates more problems than it solves, because it raises the question of what happens with the old debt which is uninsured?

Who's going to buy that? You can imagine what will happen to the yields of the old bonds.

And there's about three trillion worth of those bonds doing the rounds in the financial markets. Look, let's just be very clear on this: it is a mess, and it is a mess of our politicians' making, and the more they're trying to wriggle their way out of this mess, the more mess they are creating.

TONY JONES: Do you think the markets are going to come to the same conclusion as you inevitably? And - because there doesn't seem to be a great deal here, as you've just pointed out, to help Italy and Spain out of the impending crises that they're both facing.

YANIS VAROUFAKIS: The only good thing one can say about our politicians is that they've created such low expectations in the markets over the last weeks and months that it's very hard to surprise negatively the markets now. So, even if the news is bad as opposed to atrocious, the markets are going to receive a little bit of a boost today.

But I think that once investors pore over the details of what's happening, they will realise that nothing much has happened, so it would be back to business as usual as of the - in the next two or three days.

TONY JONES: OK. A final question because there is another arm to this giant fund and that is a special investment vehicle, as it's called, for public and private investors, and there seems to be

Pericles, you really do have the patience of a saint.

UOGs posts are pure gibberish to me and I don't even
bother to try to decipher them anymore.

I'm sure he is a very nice fellow, but when its all
garbled, its easier to skip over the posts altogether.

As to the European situation, its interesting that now
politicians expect bankers to bale them out for their
self inflicted disasters. Thats not over by a long shot,
its just kicked the can down the road for another week
or two

Agreed, Yabby.

>>Thats not over by a long shot, its just kicked the can down the road for another week or two<<

It's a house of cards, no question.

They're just trying not to sneeze at the moment. By now, most countries have realized for themselves that they are overborrowed on their economies, and are trying to work out how to solve the problem of telling people the bad news, while remaining elected.

Tough one.

Govts over borrowed.What a load of rubbish! These scamming banks we all know and they now admit to it, create money from thin air with the click of a computer mouse and express it as debt to Govts individuals and Corps.Private banks should only loan out money that already exists.

You and Yabby are losing the debate.The revolution has begun but we have to stop the communists from hijacking the debate.Govt does have a role in banking but not in the functioning of the free market.The Socialists want to take over all the means of production.

We will be just swapping one tryant ( Corporate banksters) for and Govt one.Nothing will change.The banking cartels have destroyed the free market just like the communists want to.

the special investment'vehicles'..is another great reveal
seems instead of having..'the bond market'..underwrite the full value of the debt bonded..

this 'new fun-d'..will guarentee 20% return of investment

lol

thats like saying give me 5 bucks
and i assure you you will get one dollar back

so there we go yabby and perculiar
put yuour money where your mouth it

INVEST MATies..
put in your hard earned dollars..[i dare you]

the scam ofever increasing growth is fraud
top down..trickle affect is fraud

[heck even howard super super dooper public fund
has lost value..!..[plus them guys got voting rights ...right?]

see there is the 'other issue'..EVERYONE owns a share
of the shares..via their super..BUT GETS NONE OF THE DISCOUNTS shareholding gets you

has no say re the remuneration
of the public servants sitting on the bored seats
and is making AT best 4% return..lol

we get better investing it as savings

heck there is so much to explain
and so few willing to explain

but its good that per=ridicules
got his...[cheer squad]..yabby

and couldnt find some next thing to ridicule..[this time]
so clearly the rest is what he calls gibberish..[ie hits the spot]
[is beyond disputing..cant be spun arround]

but thats small comfort as all that cash
seeks a place to hold its 'value'

well here is the clue..cash notes are a share..!
proof of debt owed by the bank

IN COIN..!

bank notes are bank bills
we all know what a bill is [right]?

they are a claim on our banking system's base[on the fed what issued them]..just like coins are..only cash is a voting share

till the fed tries to dilute the vote
untill the fed goes.for money-tory quantitive easing
but even then..a fool and his money..are soon partied

bring back the coin-age
or face globbal..[no place to hide]
tell-i-phony rage..

and re the other solution
[web 3]

[please note disappearing the web...
will only see the crime of not having the origonal books]
in-itself clear proof of a dear fraud]

and re the plan to make us sick
gods not going to let that happern again

in the end..a debt is a bet
and ursury a bigger crime than fail-lure to repay..[in full]

so credit where credit is jew
if you paid more than was due

anyhow ridicules..
plenty to ridicule there ol pal